Centene Corp (CNC)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 84,641,000 | 84,381,000 | 82,853,000 | 82,982,000 | 76,870,000 | 81,172,000 | 81,060,000 | 82,901,000 | 78,375,000 | 77,743,000 | 71,539,000 | 70,285,000 | 68,719,000 | 68,364,000 | 68,347,000 | 66,431,000 | 40,994,000 | 34,252,000 | 34,368,000 | 33,569,000 |
| 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 |
| Financial leverage ratio | 3.28 | 3.34 | 3.23 | 3.31 | 3.20 | 3.20 | 3.08 | 3.05 | 2.92 | 2.94 | 2.76 | 2.67 | 2.67 | 2.66 | 2.73 | 2.82 | 3.27 | 2.78 | 2.83 | 2.91 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $84,641,000K ÷ $25,840,000K
= 3.28
The financial leverage ratio of Centene Corp. has shown some fluctuation over the past eight quarters, ranging from 3.05 to 3.34. The ratio measures the proportion of the company's total assets that are financed by debt, with higher ratios indicating higher levels of financial leverage.
Centene's financial leverage ratio averaged around 3.22 over this period, with a gradual increase from Q2 2022 to Q3 2023, before experiencing a slight decline in Q4 2023. This suggests that the company has been relying more on debt financing to support its operations and growth during this time frame.
A financial leverage ratio above 3 indicates that Centene Corp. has more debt in relation to its total assets, which could signal higher financial risk as the company may have higher interest payments and debt obligations. Investors and analysts may monitor changes in the financial leverage ratio to assess the company's ability to meet its debt obligations and its overall financial stability.
Peer comparison
Dec 31, 2023