Centene Corp (CNC)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	17,710,000	17,888,000	17,896,000	18,223,000	17,938,000	18,084,000	18,456,000	18,640,000	18,571,000	18,594,000	16,536,000	16,695,000	16,682,000	16,737,000	16,708,000	17,150,000	13,638,000	6,975,000	7,047,000	6,775,000
Total stockholders’ equity	US$ in thousands	25,840,000	25,295,000	25,671,000	25,042,000	24,057,000	25,378,000	26,289,000	27,169,000	26,795,000	26,466,000	25,911,000	26,342,000	25,773,000	25,725,000	25,056,000	23,549,000	12,551,000	12,311,000	12,154,000	11,540,000
Debt-to-equity ratio		0.69	0.71	0.70	0.73	0.75	0.71	0.70	0.69	0.69	0.70	0.64	0.63	0.65	0.65	0.67	0.73	1.09	0.57	0.58	0.59

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $17,710,000K ÷ $25,840,000K
= 0.69

The debt-to-equity ratio of Centene Corp. has been relatively stable over the past eight quarters, fluctuating between 0.69 and 0.75. A decreasing trend is observed from Q4 2022 to Q1 2023, suggesting a reduction in the company's reliance on debt financing compared to its equity. However, this trend is followed by a slight increase in the ratio in subsequent quarters. The ratios are within a reasonable range, indicating that Centene Corp. has a balanced mix of debt and equity in its capital structure. Overall, the company's debt-to-equity ratio appears to be adequately managed and does not raise immediate concerns about its financial leverage.