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Centene - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Centene (ISIN: US15135B1017, WKN: 766458) Kursdatum: 21.07.2017 Kurs: 84,730 USD
Beschreibung Daten
Symbol CNC
Marktkapitalisierung 13.893.601.280,00 USD
Land Vereinigte Staaten von Amerika
Indizes S&P 500
Sektor Konsumgüter
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2015-02-20 - 2:1 | 2004-12-20 - 2:1 | 2003-07-14 - 3:2 |
Internet
Letztes Bilanz Update 21.02.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
56,02 7,51 0,00% 2,78 29,19 24,70 0,34 2,36

Firmenbeschreibung

Quarterly Selected Financial Information(In millions, except share data) (Unaudited)  For the Quarter Ended March 31,2015 June 30,2015 September 30,2015 December 31,2015Total revenues$5,131 $5,506 $5,821 $6,302Amounts attributable to Centene Corporation common shareholders:Earnings from continuing operations, net of income tax expense$64 $88 $92 $112Discontinued operations, net of income tax expense (benefit)(1) — 1 (1)Net earnings$63 $88 $93 $111        Net earnings (loss) per common share attributable to Centene Corporation:Basic:        Continuing operations$0.54 $0.74 $0.77 $0.94Discontinued operations(0.01) — 0.01 (0.01)Basic earnings per common share$0.53 $0.74 $0.78 $0.93        Diluted:       Continuing operations$0.52 $0.72 $0.75 $0.91Discontinued operations(0.01) — 0.01 (0.01)Diluted earnings per common share$0.51 $0.72 $0.76 $0.90         For the Quarter Ended March 31,2014 June 30,2014 September 30,2014 December 31,2014Total revenues$3,460 $4,023 $4,352 $4,725Amounts attributable to Centene Corporation common shareholders:Earnings from continuing operations, net of income tax expense$34 $47 $81 

Firmenstrategie

Principles of Consolidation  The accompanying consolidated financial statements include the accounts of Centene Corporation and all majority owned subsidiaries and subsidiaries over which the Company exercises the power and control to direct activities significantly impacting financial performance. All material intercompany balances and transactions have been eliminated. The assets, liabilities and results of operations of Kentucky Spirit Health Plan are classified as discontinued operations for all periods presented. Certain amounts in the consolidated financial statements have been reclassified to conform to the 2015 presentation. These reclassifications have no effect on net earnings or stockholders' equity as previously reported.

RevenueRecognitionPolicyTextBlock

Revenue Recognition

 

The Company's health plans generate revenues primarily from premiums received from the states in which it operates health plans. The Company receives a fixed premium per member per month pursuant to its state contracts. The Company generally receives premium payments during the month it provides services and recognizes premium revenue during the period in which it is obligated to provide services to its members. In some instances, the Company's base premiums are subject to an adjustment, or risk score, based on the acuity of its membership. Generally, the risk score is determined by the State analyzing submissions of processed claims data to determine the acuity of the Company's membership relative to the entire state's Medicaid membership. Some states enact premium taxes, similar assessments and provider pass-through payments, collectively premium taxes, and these taxes are recorded as a separate component of both revenues and operating expenses. Some contracts allow for additional premiums related to certain supplemental services provided such as maternity deliveries.


Revenues are recorded based on membership and eligibility data provided by the states, which is adjusted on a monthly basis by the states for retroactive additions or deletions to membership data. These eligibility adjustments are estimated monthly and subsequent adjustments are made in the period known. We continuously review and update those estimates as new information becomes available.  It is possible that new information could require us to make additional adjustments, which could be significant, to these estimates.


The Company's specialty companies generate revenues under contracts with state programs, individuals, healthcare organizations and other commercial organizations, as well as from the Company's own subsidiaries. Revenues are recognized when the related services are provided or as ratably earned over the covered period of service.

SegmentReportingDisclosureTextBlock

Segment Information


Centene operates in two segments: Managed Care and Specialty Services.  The Managed Care segment consists of Centene’s health plans including all of the functions needed to operate them.  The Specialty Services segment consists of Centene’s specialty companies offering auxiliary healthcare services and products.


Factors used in determining the reportable business segments include the nature of operating activities, existence of separate senior management teams, and the type of information presented to the Company's chief operating decision maker to evaluate all results of operations.


Segment information as of and for the year ended December 31, 2015, follows ($ in millions):

 

Managed Care
 
Specialty
Services
 
Eliminations
 
Consolidated
Total
Premium and service revenues from external customers
$
19,054

 
$
2,211

 
$

 
$
21,265

Premium and service revenues from internal customers
100

 
4,864

 
(4,964
)
 

Total premium and service revenues
19,154

 
7,075

 
(4,964
)
 
21,265

Earnings from operations
513

 
192

 

 
705

Total assets
6,202

 
1,137

 

 
7,339


Segment information as of and for the year ended December 31, 2014, follows ($ in millions):

 

Managed Care
 
Specialty
Services
 
Eliminations
 
Consolidated
Total
Premium and service revenues from external customers
$
13,886

 
$
1,781

 
$

 
$
15,667

Premium and service revenues from internal customers
60

 
3,019

 
(3,079
)
 

Total premium and service revenues
13,946

 
4,800

 
(3,079
)
 
15,667

Earnings from operations
353

 
111

 

 
464

Total assets
4,706

 
1,118

 

 
5,824


Segment information as of and for the year ended December 31, 2013, follows ($ in millions):

 

Managed Care
 
Specialty
Services
 
Eliminations
 
Consolidated
Total
Premium and service revenues from external customers
$
9,741

 
$
785

 
$

 
$
10,526

Premium and service revenues from internal customers
41

 
2,147

 
(2,188
)
 

Total premium and service revenues
9,782

 
2,932

 
(2,188
)
 
10,526

Earnings from operations
198

 
79

 

 
277

Total assets
2,921

 
598

 

 
3,519

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Earnings Per Share


The following table sets forth the calculation of basic and diluted net earnings per common share for the years ended December 31 ($ in millions, except per share data):

 
2015
 
2014
 
2013
Earnings attributable to Centene Corporation:
 
 
 
 
 
Earnings from continuing operations, net of tax
$
356

 
$
268

 
$
161

Discontinued operations, net of tax
(1
)
 
3

 
4

Net earnings
$
355

 
$
271

 
$
165

 
 
 
 
 
 
Shares used in computing per share amounts:
 

 
 
 
 
Weighted average number of common shares outstanding
119,100,744

 
116,345,764

 
108,253,090

Common stock equivalents (as determined by applying the treasury stock method)
3,965,626

 
4,014,448

 
4,241,256

Weighted average number of common shares and potential dilutive common shares outstanding
123,066,370

 
120,360,212

 
112,494,346

 
 
 
 
 
 
Net earnings per common share attributable to Centene Corporation:
 
 
 
 
 
Basic:
 
 
 
 
 
Continuing operations
$
2.99

 
$
2.30

 
$
1.49

Discontinued operations
(0.01
)
 
0.03

 
0.03

Basic earnings per common share
$
2.98

 
$
2.33

 
$
1.52

 
 
 
 
 
 
Diluted:
 
 
 
 
 
Continuing operations
$
2.89

 
$
2.23

 
$
1.43

Discontinued operations
(0.01
)
 
0.02

 
0.04

Diluted earnings per common share
$
2.88

 
$
2.25

 
$
1.47



The calculation of diluted earnings per common share for 2015, 2014 and 2013 excludes the impact of 7,247 shares, 207,980 shares and 187,078 shares, respectively, related to anti-dilutive stock options, restricted stock and restricted stock units.