Question 1

What is Centene's EV/EBITDA ratio?

Accepted Answer

Centene (CNC) EV/EBITDA ratio is 3.5× as of October 28, 2025. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Centene?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Centene specifically, the relevant sector benchmark is the current sector median of 15.0×.

Question 5

Is Centene's EV/EBITDA ratio high or low?

Accepted Answer

Centene's EV/EBITDA ratio of 3.5× is below its own 5-year average of 9.2× and below the sector median of 15.0×. That places the current reading at the 5th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Centene's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Centene (CNC) EV/EBITDA ratio has ranged from a low of 2.2× in 2025 to a high of 32.9× in 2006. The 5-year average is 9.2× and the 5-year median is 7.0×.

Question 7

What was Centene's EV/EBITDA ratio in 2024?

Accepted Answer

Centene (CNC) EV/EBITDA ratio at the end of 2024 was 5.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Centene's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$20.21B	−$5.14B	—	—	Dec 31, 2025
2024	$30.32B	$6.20B	5.3×	-1.6×	Dec 31, 2024
2023	$39.65B	$5.62B	6.9×	-5.9×	Dec 31, 2023
2022	$45.92B	$4.12B	12.8×	-1.3×	Dec 31, 2022
2021	$48.07B	$3.95B	14.2×	+5.9×	Dec 31, 2021
2020	$33.67B	$4.76B	8.3×	-1.4×	Dec 31, 2020
2019	$26.03B	$2.84B	9.7×	-1.3×	Dec 31, 2019
2018	$23.70B	$2.21B	11.0×	+1.0×	Dec 31, 2018
2017	$17.45B	$1.75B	10.0×	+4.0×	Dec 31, 2017
2016	$9.67B	$1.65B	6.0×	-2.4×	Dec 31, 2016
2015	$7.86B	$851.00M	8.4×	-0.5×	Dec 31, 2015
2014	$6.11B	$581.70M	8.9×	+1.4×	Dec 31, 2014
2013	$3.24B	$365.66M	7.6×	-14.9×	Dec 31, 2013
2012	$2.12B	$74.70M	22.5×	+16.0×	Dec 31, 2012
2011	$2.00B	$253.53M	6.5×	+1.5×	Dec 31, 2011
2010	$1.24B	$224.27M	5.0×	+1.0×	Dec 31, 2010
2009	$911.05M	$197.83M	3.9×	+0.6×	Dec 31, 2009
2008	$852.95M	$187.54M	3.4×	-6.9×	Dec 31, 2008
2007	$1.19B	$105.90M	10.3×	—	Dec 31, 2007
2006	$1.06B	−$65.45M	—	—	Dec 31, 2006
2005	$1.11B	$102.92M	9.7×	-2.9×	Dec 31, 2005
2004	$1.16B	$80.98M	12.7×	+4.6×	Dec 31, 2004
2003	$500.05M	$53.38M	8.0×	—	Dec 31, 2003
2002	$351.93M	−$346.36M	—	—	Dec 31, 2002


Gilead Sciences (GILD)	13.9×
Labcorp Holdings (LH)	13.6×
Amgen (AMGN)	13.6×
Charles River (CRL)	13.2×
Regeneron Pharmaceuticals (REGN)	12.9×
GE HealthCare (GEHC)	12.9×
UnitedHealth Group (UNH)	12.7×
Pfizer (PFE)	12.4×
Henry Schein (HSIC)	12.0×
Medtronic (MDT)	11.7×
AptarGroup (ATR)	11.5×
Bristol-Myers Squibb (BMY)	11.5×
Zimmer Biomet Holdings (ZBH)	11.2×
Biogen (BIIB)	10.5×
HCA Healthcare (HCA)	10.0×
Molina Healthcare (MOH)	8.8×
DaVita (DVA)	8.5×
IQVIA (IQV)	8.2×
Incyte (INCY)	7.9×
Cigna (CI)	7.8×
Elevance Health (ELV)	6.8×
Novo Nordisk (NVO)	6.5×
Solventum (SOLV)	5.8×
Universal Health Services (UHS)	5.7×
Humana (HUM)	4.5×

EV/EBITDA for Centene (CNC)

EV/EBITDA daily chart for Centene (CNC)

Historical EV/EBITDA for Centene (CNC) from 2002 to 2025

About EV/EBITDA at Centene (CNC)

Centene EV/EBITDA by Year

Centene EV/EBITDA 2024: 5.3×

Centene EV/EBITDA 2023: 6.9×

Centene EV/EBITDA 2022: 12.8×

Centene EV/EBITDA 2021: 14.2×

Centene EV/EBITDA 2020: 8.3×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Centene (CNC) Key Financials

EV/EBITDA daily chart for Centene (CNC)

Historical EV/EBITDA for Centene (CNC) from 2002 to 2025

About EV/EBITDA at Centene (CNC)

Centene EV/EBITDA by Year

Centene EV/EBITDA 2024: 5.3×

Centene EV/EBITDA 2023: 6.9×

Centene EV/EBITDA 2022: 12.8×

Centene EV/EBITDA 2021: 14.2×

Centene EV/EBITDA 2020: 8.3×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Centene's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Centene?

+Is Centene's EV/EBITDA ratio high or low?

+What is Centene's historical EV/EBITDA ratio range?

+What was Centene's EV/EBITDA ratio in 2024?

+Why does Centene's EV/EBITDA ratio change over time?

Centene (CNC) Key Financials