CNC vs. ELV: Centene vs. Elevance Health Stock Comparison

November 11, 2026

How do Centene (CNC) and Elevance Health (ELV) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Centene (CNC) and Elevance Health (ELV) are both classified in the Managed Health Care sub-industry within the broader Health Care Providers & Services industry, placing them in the closest GICS peer bucket.

Company profile comparison for Centene (CNC) and Elevance Health (ELV)
Profile Item	CNC	ELV
Name	Centene Corp.	Elevance Health, Inc.
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Providers & Services	Health Care Providers & Services
GICS Sub-Industry	Managed Health Care	Managed Health Care
Market Capitalization	34.53 billion USD	91.96 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	December 13, 2001	October 30, 2001
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CNC

ELV

GSPC

Centene (CNC) vs. Elevance Health (ELV), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Centene (CNC) and Elevance Health (ELV). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Centene (CNC) and Elevance Health (ELV). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Centene (CNC) and Elevance Health (ELV)
Metric	CNC	ELV
Total Return (1Y)	84.77%	35.51%
Total Return (3Y, Annualized)	-0.97%	-0.68%
Total Return (5Y, Annualized)	-1.48%	1.10%

Risk Profile

Drawdown History

CNC

ELV

GSPC

Centene (CNC) vs. Elevance Health (ELV), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Centene (CNC) and Elevance Health (ELV). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Centene (CNC) and Elevance Health (ELV)
Metric	CNC	ELV
Volatility (1Y, Annualized)	46.34%	35.05%
Beta (5Y)	1.07	0.61
Max Drawdown (5Y)	-74.07%	-50.38%
Avg. Volume (3M)	4.63M	1.19M

Risk-Adjusted Performance

Risk-Return Positioning

CNC and ELV are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Centene (CNC) and Elevance Health (ELV)
Metric	CNC	ELV
Sharpe Ratio (1Y)	1.74	0.89
Sortino Ratio (1Y)	2.71	1.25

Profitability

ROE (TTM)

Both Centene (CNC) at 6.74% and Elevance Health (ELV) at 11.48% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

CNC

Health Care Equipment & Services industry group

6.74%

Max: 47.61%
Q3: 14.36%
CNC: 6.74%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

ELV

Health Care Equipment & Services industry group

11.48%

Max: 47.61%
Q3: 14.36%
ELV: 11.48%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Centene (CNC) vs. Elevance Health (ELV): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Both Centene (CNC) at 0.81% and Elevance Health (ELV) at 2.55% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

CNC

Health Care Equipment & Services industry group

0.81%

Max: 29.35%
Q3: 9.33%
Median: 2.18%
CNC: 0.81%
Q1: -6.29%
Min: -28.46%

ELV

Health Care Equipment & Services industry group

2.55%

Max: 29.35%
Q3: 9.33%
ELV: 2.55%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Centene (CNC) vs. Elevance Health (ELV): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Both Centene (CNC) at 0.74% and Elevance Health (ELV) at 4.22% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

CNC

Health Care Equipment & Services industry group

0.74%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
CNC: 0.74%
Q1: -0.28%
Min: -16.29%

ELV

Health Care Equipment & Services industry group

4.22%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
ELV: 4.22%
Q1: -0.28%
Min: -16.29%

Centene (CNC) vs. Elevance Health (ELV): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Centene (CNC) and Elevance Health (ELV)
Metric	CNC	ELV
ROE (TTM)	6.74%	11.48%
ROA (TTM)	2.68%	4.01%
Net Margin (TTM)	0.81%	2.55%
Operating Margin (TTM)	0.74%	4.22%
Gross Margin (TTM)	11.34%	26.43%

Growth

Revenue Growth

Both Centene (CNC) at 19.44% and Elevance Health (ELV) at 12.62% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Centene (CNC) vs. Elevance Health (ELV): A comparison of their Revenue Growth across different time periods.

EPS Growth

Elevance Health (ELV) at -1.83% is around its peer norm for EPS growth, while Centene (CNC) at -314.42% falls below its industry range, a notably weak earnings reading.

Centene (CNC) vs. Elevance Health (ELV): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Centene (CNC) and Elevance Health (ELV)
Metric	CNC	ELV
Revenue Growth (YoY)	19.44%	12.62%
Revenue Growth (3Y CAGR)	10.45%	8.34%
EPS Growth (YoY)	-314.42%	-1.83%
EPS Growth (3Y CAGR)	--	0.53%

Financial Strength

Current Ratio (MRQ)

Elevance Health (ELV) at 1.47 keeps current ratio within its industry’s typical mid-range, while Centene (CNC) at 1.16 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for CNC.

CNC

Health Care Equipment & Services industry group

1.16

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
CNC: 1.16
Min: 0.30

ELV

Health Care Equipment & Services industry group

1.47

Max: 7.59
Q3: 4.00
Median: 1.98
ELV: 1.47
Q1: 1.37
Min: 0.30

Centene (CNC) vs. Elevance Health (ELV): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Both Centene (CNC) at 0.70 and Elevance Health (ELV) at 0.69 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CNC

Health Care Equipment & Services industry group

0.70

Max: 1.88
Q3: 0.91
CNC: 0.70
Median: 0.58
Q1: 0.16
Min: 0.00

ELV

Health Care Equipment & Services industry group

0.69

Max: 1.88
Q3: 0.91
ELV: 0.69
Median: 0.58
Q1: 0.16
Min: 0.00

Centene (CNC) vs. Elevance Health (ELV): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Centene (CNC) and Elevance Health (ELV)
Metric	CNC	ELV
Current Ratio (MRQ)	1.16	1.47
Debt / Equity (MRQ)	0.70	0.69
Net Debt / EBITDA	-1.71	-0.81

Dividends

Dividend Yield (TTM)

Centene (CNC) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Elevance Health (ELV) reports a yield of 1.59%, ranking against industry peers normally.

CNC

Health Care Equipment & Services industry group

0.00%

CNC: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ELV

Health Care Equipment & Services industry group

1.59%

ELV: 1.59%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Centene (CNC) vs. Elevance Health (ELV): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Centene (CNC) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Elevance Health (ELV) reports a payout of 29.17%, ranking against industry peers normally.

CNC

Health Care Equipment & Services industry group

0.00%

CNC: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ELV

Health Care Equipment & Services industry group

29.17%

ELV: 29.17%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Centene (CNC) vs. Elevance Health (ELV): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Centene (CNC) and Elevance Health (ELV)
Metric	CNC	ELV
Dividend Yield (TTM)	0.00%	1.59%
Dividend Payout Ratio (TTM)	0.00%	29.17%

Valuation

P/E Ratio (TTM)

Elevance Health (ELV) at 18.07 sits in the cheaper P/E ratio quartile, while Centene (CNC) at 23.97 is closer to its industry’s usual earnings multiple — a discount for ELV, though growth and earnings durability still matter.

CNC

Health Care Equipment & Services industry group

23.97

Max: 80.41
Q3: 47.62
Median: 29.93
CNC: 23.97
Q1: 21.19
Min: 4.21

ELV

Health Care Equipment & Services industry group

18.07

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
ELV: 18.07
Min: 4.21

Centene (CNC) vs. Elevance Health (ELV): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

Both Centene (CNC) at 0.19 and Elevance Health (ELV) at 0.46 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

CNC

Health Care Equipment & Services industry group

0.19

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
CNC: 0.19
Min: 0.03

ELV

Health Care Equipment & Services industry group

0.46

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
ELV: 0.46
Min: 0.03

Centene (CNC) vs. Elevance Health (ELV): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

Centene (CNC) at 1.55 sits in the lower P/B ratio quartile against book while Elevance Health (ELV) at 2.06 is valued near its industry’s middle — CNC is cheaper on assets, though weigh it against ROE and asset quality.

CNC

Health Care Equipment & Services industry group

1.55

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
CNC: 1.55
Min: -1.31

ELV

Health Care Equipment & Services industry group

2.06

Max: 11.68
Q3: 6.12
Median: 3.00
ELV: 2.06
Q1: 1.73
Min: -1.31

Centene (CNC) vs. Elevance Health (ELV): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Centene (CNC) and Elevance Health (ELV)
Metric	CNC	ELV
P/E Ratio (TTM)	23.97	18.07
P/S Ratio (TTM)	0.19	0.46
P/B Ratio (MRQ)	1.55	2.06
Free Cash Flow Yield (TTM)	8.93%	8.69%