CNC vs. UNH: Centene vs. UnitedHealth Stock Comparison

November 11, 2026

How do Centene (CNC) and UnitedHealth (UNH) 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 UnitedHealth (UNH) 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 UnitedHealth (UNH)
Profile Item	CNC	UNH
Name	Centene Corp.	UnitedHealth Group 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	353.17 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	December 13, 2001	October 17, 1984
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CNC

UNH

GSPC

Centene (CNC) vs. UnitedHealth (UNH), 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 UnitedHealth (UNH). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Centene (CNC) and UnitedHealth (UNH)
Metric	CNC	UNH
Total Return (1Y)	84.77%	26.08%
Total Return (3Y, Annualized)	-0.97%	-7.69%
Total Return (5Y, Annualized)	-1.48%	-1.26%

Risk Profile

Drawdown History

CNC

UNH

GSPC

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

Risk Metrics

Risk profile metrics for Centene (CNC) and UnitedHealth (UNH)
Metric	CNC	UNH
Volatility (1Y, Annualized)	46.34%	34.76%
Beta (5Y)	1.07	0.52
Max Drawdown (5Y)	-74.07%	-61.39%
Avg. Volume (3M)	4.63M	5.13M

Risk-Adjusted Performance

Risk-Return Positioning

CNC and UNH 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 UnitedHealth (UNH)
Metric	CNC	UNH
Sharpe Ratio (1Y)	1.74	0.63
Sortino Ratio (1Y)	2.71	0.86

Profitability

ROE (TTM)

UnitedHealth (UNH) at 15.77% sits in the top ROE quartile, while Centene (CNC) at 6.74% is closer to the peer norm — stronger capital efficiency for UNH.

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%

UNH

Health Care Equipment & Services industry group

15.77%

Max: 47.61%
UNH: 15.77%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

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

Net Margin (TTM)

Both Centene (CNC) at 0.81% and UnitedHealth (UNH) at 3.53% 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%

UNH

Health Care Equipment & Services industry group

3.53%

Max: 29.35%
Q3: 9.33%
UNH: 3.53%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Centene (CNC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 5.82% 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%

UNH

Health Care Equipment & Services industry group

5.82%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
UNH: 5.82%
Q1: -0.28%
Min: -16.29%

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

Profitability Metrics

Profitability metrics for Centene (CNC) and UnitedHealth (UNH)
Metric	CNC	UNH
ROE (TTM)	6.74%	15.77%
ROA (TTM)	2.68%	5.24%
Net Margin (TTM)	0.81%	3.53%
Operating Margin (TTM)	0.74%	5.82%
Gross Margin (TTM)	11.34%	20.05%

Growth

Revenue Growth

Both Centene (CNC) at 19.44% and UnitedHealth (UNH) at 11.81% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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

EPS Growth

UnitedHealth (UNH) at -14.70% 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. UnitedHealth (UNH): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Centene (CNC) and UnitedHealth (UNH)
Metric	CNC	UNH
Revenue Growth (YoY)	19.44%	11.81%
Revenue Growth (3Y CAGR)	10.45%	11.35%
EPS Growth (YoY)	-314.42%	-14.70%
EPS Growth (3Y CAGR)	--	-14.52%

Financial Strength

Current Ratio (MRQ)

Both Centene (CNC) at 1.16 and UnitedHealth (UNH) at 0.74 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

UNH

Health Care Equipment & Services industry group

0.74

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
UNH: 0.74
Min: 0.30

Centene (CNC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 0.70 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

UNH

Health Care Equipment & Services industry group

0.70

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

Centene (CNC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH)
Metric	CNC	UNH
Current Ratio (MRQ)	1.16	0.74
Debt / Equity (MRQ)	0.70	0.70
Net Debt / EBITDA	-1.71	1.58

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 UnitedHealth (UNH) reports a yield of 2.29%, 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%

UNH

Health Care Equipment & Services industry group

2.29%

UNH: 2.29%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Centene (CNC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) reports a payout of 51.71%, 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%

UNH

Health Care Equipment & Services industry group

51.71%

UNH: 51.71%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Centene (CNC) and UnitedHealth (UNH)
Metric	CNC	UNH
Dividend Yield (TTM)	0.00%	2.29%
Dividend Payout Ratio (TTM)	0.00%	51.71%

Valuation

P/E Ratio (TTM)

Both Centene (CNC) at 23.97 and UnitedHealth (UNH) at 22.50 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

UNH

Health Care Equipment & Services industry group

22.50

Max: 80.41
Q3: 47.62
Median: 29.93
UNH: 22.50
Q1: 21.19
Min: 4.21

Centene (CNC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 0.78 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

UNH

Health Care Equipment & Services industry group

0.78

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
UNH: 0.78
Min: 0.03

Centene (CNC) vs. UnitedHealth (UNH): 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 UnitedHealth (UNH) at 3.60 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

UNH

Health Care Equipment & Services industry group

3.60

Max: 11.68
Q3: 6.12
UNH: 3.60
Median: 3.00
Q1: 1.73
Min: -1.31

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

Valuation Metrics

Valuation metrics for Centene (CNC) and UnitedHealth (UNH)
Metric	CNC	UNH
P/E Ratio (TTM)	23.97	22.50
P/S Ratio (TTM)	0.19	0.78
P/B Ratio (MRQ)	1.55	3.60
Free Cash Flow Yield (TTM)	8.93%	7.50%