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Centene CNC Specialty Services — Reinsurance Recoverables On Paid And Unpaid Losses

Discontinued — last reported Q4 '16

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Other financials

Income statement

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Revenue$49.9B+7.1%
Gross profit$49.2B+7.2%
Operating income$1.9B+21.3%
Net income$1.5B+17.5%
EPS (diluted)$3.11+18.3%

Balance sheet

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Cash & equivalents$21.3B+43.5%
Total debt$16.4B-10.6%
Total equity$21.4B-23.2%
Total assets$81.2B-6.7%

Cash flow

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Operating cash flow$4.4B+189%
CapEx$200.0M+48.1%
Free cash flow$4.2B+203%

Valuation

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Market cap$30.13B-46.5%
Enterprise value$25.24B-66.7%
P/S0.2×-0.2×

Profitability

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Gross margin98.7%+0.3pp
Operating margin-3.7%-5.8pp
Net margin-3.3%-5.3pp
FCF margin3.6%+2.7pp

Returns & leverage

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Return on equity-26.1%-38.7pp
Debt / equity0.8×+0.1×
Current ratio1.1×0.0×

Where this comes from

Reported directly by Centene in its filing.

Tagged under the XBRL concept us-gaap:ReinsuranceRecoverablesOnPaidAndUnpaidLosses.

The official record: Centene’s 10-K, filed February 21, 2017, on SEC EDGAR. View the filing →

Questions, answered.

What does specialty services — reinsurance recoverables on paid and unpaid losses mean?
The amount of money the company expects to get back from its insurance partners for claims paid or owed.
How do you interpret specialty services — reinsurance recoverables on paid and unpaid losses?
High recoverables indicate significant risk transfer, but also credit risk exposure to the reinsurers.
How does specialty services — reinsurance recoverables on paid and unpaid losses compare across companies?
Standard balance sheet item for insurers using reinsurance.