CNC vs. MCK: Centene vs. McKesson Stock Comparison

November 11, 2026

How do Centene (CNC) and McKesson (MCK) 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 McKesson (MCK) both belong to the Health Care Providers & Services industry, though CNC is classified under Managed Health Care while MCK falls under Health Care Distributors.

Company profile comparison for Centene (CNC) and McKesson (MCK)
Profile Item	CNC	MCK
Name	Centene Corp.	McKesson Corporation
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	Health Care Distributors
Market Capitalization	34.53 billion USD	122.48 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	December 13, 2001	November 10, 1994
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CNC

MCK

GSPC

Centene (CNC) vs. McKesson (MCK), 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 McKesson (MCK). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Centene (CNC) and McKesson (MCK)
Metric	CNC	MCK
Total Return (1Y)	84.77%	25.40%
Total Return (3Y, Annualized)	-0.97%	32.67%
Total Return (5Y, Annualized)	-1.48%	37.84%

Risk Profile

Drawdown History

CNC

MCK

GSPC

Centene (CNC) vs. McKesson (MCK), 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 McKesson (MCK). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Centene (CNC) and McKesson (MCK)
Metric	CNC	MCK
Volatility (1Y, Annualized)	46.34%	31.71%
Beta (5Y)	1.07	0.26
Max Drawdown (5Y)	-74.07%	-27.17%
Avg. Volume (3M)	4.63M	822.69K

Risk-Adjusted Performance

Risk-Return Positioning

CNC and MCK 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 McKesson (MCK)
Metric	CNC	MCK
Sharpe Ratio (1Y)	1.74	0.67
Sortino Ratio (1Y)	2.71	1.15

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Centene (CNC) earns 6.74% on shareholders’ equity, ranked against its industry; McKesson (MCK) has no ROE this period.

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%

MCK

Health Care Equipment & Services industry group

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

Centene (CNC) vs. McKesson (MCK): MCK does not report ROE, so it has no value marker; CNC is benchmarked against the Health Care Equipment & Services industry group.

Net Margin (TTM)

Both Centene (CNC) at 0.81% and McKesson (MCK) at 1.12% 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%

MCK

Health Care Equipment & Services industry group

1.12%

Max: 29.35%
Q3: 9.33%
Median: 2.18%
MCK: 1.12%
Q1: -6.29%
Min: -28.46%

Centene (CNC) vs. McKesson (MCK): 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 McKesson (MCK) at 1.48% 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%

MCK

Health Care Equipment & Services industry group

1.48%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
MCK: 1.48%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Centene (CNC) and McKesson (MCK)
Metric	CNC	MCK
ROE (TTM)	6.74%	--
ROA (TTM)	2.68%	4.72%
Net Margin (TTM)	0.81%	1.12%
Operating Margin (TTM)	0.74%	1.48%
Gross Margin (TTM)	11.34%	3.65%

Growth

Revenue Growth

Both Centene (CNC) at 19.44% and McKesson (MCK) at 12.36% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Centene (CNC) vs. McKesson (MCK): A comparison of their Revenue Growth across different time periods.

EPS Growth

McKesson (MCK) at 49.22% sits in the top EPS growth quartile, while Centene (CNC) at -314.42% falls below its industry range — a large difference in per-share earnings trajectories.

Centene (CNC) vs. McKesson (MCK): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Centene (CNC) and McKesson (MCK)
Metric	CNC	MCK
Revenue Growth (YoY)	19.44%	12.36%
Revenue Growth (3Y CAGR)	10.45%	13.39%
EPS Growth (YoY)	-314.42%	49.22%
EPS Growth (3Y CAGR)	--	15.31%

Financial Strength

Current Ratio (MRQ)

Both Centene (CNC) at 1.16 and McKesson (MCK) at 0.90 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

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

MCK

Health Care Equipment & Services industry group

0.90

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
MCK: 0.90
Min: 0.30

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

Debt / Equity (MRQ)

Only one side’s leverage can be read here: Centene (CNC) carries debt-to-equity ratio of 0.70 against its industry range, while McKesson (MCK) reports no figure this period.

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

MCK

Health Care Equipment & Services industry group

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00
MCK: --

Centene (CNC) vs. McKesson (MCK): MCK does not report debt-to-equity ratio, so it has no value marker; CNC is benchmarked against the Health Care Equipment & Services industry group.

Financial Strength Metrics

Financial strength metrics for Centene (CNC) and McKesson (MCK)
Metric	CNC	MCK
Current Ratio (MRQ)	1.16	0.90
Debt / Equity (MRQ)	0.70	--
Net Debt / EBITDA	-1.71	0.64

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 McKesson (MCK) reports a yield of 0.32%, 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%

MCK

Health Care Equipment & Services industry group

0.32%

MCK: 0.32%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Centene (CNC) vs. McKesson (MCK): 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 McKesson (MCK) reports a payout of 8.77%, 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%

MCK

Health Care Equipment & Services industry group

8.77%

MCK: 8.77%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Centene (CNC) and McKesson (MCK)
Metric	CNC	MCK
Dividend Yield (TTM)	0.00%	0.32%
Dividend Payout Ratio (TTM)	0.00%	8.77%

Valuation

P/E Ratio (TTM)

Both Centene (CNC) at 23.97 and McKesson (MCK) at 27.36 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

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

MCK

Health Care Equipment & Services industry group

27.36

Max: 80.41
Q3: 47.62
Median: 29.93
MCK: 27.36
Q1: 21.19
Min: 4.21

Centene (CNC) vs. McKesson (MCK): 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 McKesson (MCK) at 0.29 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

MCK

Health Care Equipment & Services industry group

0.29

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
MCK: 0.29
Min: 0.03

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

P/B Ratio (MRQ)

McKesson (MCK) reports a negative P/B ratio of -30.85, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile Centene (CNC) reports 1.55, ranking against industry peers normally.

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

MCK

Health Care Equipment & Services industry group

-30.85

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31
MCK: -30.85

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

Valuation Metrics

Valuation metrics for Centene (CNC) and McKesson (MCK)
Metric	CNC	MCK
P/E Ratio (TTM)	23.97	27.36
P/S Ratio (TTM)	0.19	0.29
P/B Ratio (MRQ)	1.55	-30.85
Free Cash Flow Yield (TTM)	8.93%	6.04%