Percent change in each close since the start of the chosen range, for both companies and the S&P 500 (SPY). Daily closes over the last year, weekly before that and monthly before five years.
In short
How the two compare
On the latest closes (28 Oct 2026), Elevance Health is the larger company by market value ($98.55B against $33.19B). Over the past year Centene Corporation returned +102.3% and Elevance Health +22.9%, while the S&P 500 returned +12.7%. The operating margin is -0.6% for Centene Corporation and 6% for Elevance Health. Over the next 21 sessions the model expects +0.99% for Centene Corporation, with a 78% chance of a rise, and −0.46% for Elevance Health, with a 33% chance. Centene Corporation has no published fair value today. Elevance Health's long-run fair value is $395.41, a gap of −4.6% to its price; the long-run model view is neutral.
Model view
What the model expects
Expected returns and the chance of a rise from our forecasting models, and the long-run fair value against the price. Readings, not advice.
Model readings:
MeasureCentene Corporation · CNCElevance Health · ELV
Expected returnnext 21 sessions
CNC+0.99%
ELV−0.46%
Chance of a risenext 21 sessions
CNC78%
ELV33%
Expected returnnext 63 sessions
CNC+4.89%
ELV+0.66%
Range of outcomes63 sessions, 80% band
CNC−21.3% to +31.1%
ELV−20.8% to +22.1%
Chance of a risenext 63 sessionsMembers only · see plans
Long-run fair valueintrinsic value model
CNC—The model's fair value falls outside its own interval or at the gap clamp, so it is not a measurement.
ELV$395.4128 Oct 2026
Gap to pricefair value against the close
CNC—The model's fair value falls outside its own interval or at the gap clamp, so it is not a measurement.
ELV−4.6%
Past readings that matchedsign of the 21-session outcome
CNC56.5%of 269
ELV58%of 269
Price performance
How the prices moved
Price change over each period, with the S&P 500 (SPY) for comparison.
Closes to
MeasureCentene Corporation · CNCElevance Health · ELV
1 monthS&P 500: +1.1%
CNC+7.8%
ELV+5.5%
6 monthsS&P 500: +8.5%
CNC+24.2%
ELV+10.5%
Year to dateS&P 500: +13.3%
CNC+62.9%
ELV+19.4%
1 yearS&P 500: +12.7%
CNC+102.3%
ELV+22.9%
5 yearsS&P 500: +70.7%
CNC−1.5%
ELV+4.7%
1 year against the S&P 500percentage points
CNC+89.6 pts
ELV+10.2 pts
Position in the 52-week range0% low, 100% high
CNC87%close $67.05 in $31.63 to $72.50
ELV80%close $414.41 in $272.05 to $450.69
Against the 200-day average
CNC+21.6%
ELV+11.8%
Valuation
What the market pays
Size and the multiples from the latest filed quarter. A P/E on losses reads n/m.
Filings: quarter to (CNC), (ELV)
MeasureCentene Corporation · CNCElevance Health · ELV
Market value
CNC$33.19B28 Oct 2026
ELV$98.55B28 Oct 2026
Enterprise valueat the last filing
CNC$25.51B30 Sep 2026
ELV$120.79B30 Jun 2023
P/Elatest filed
CNCn/mA P/E on negative earnings is not a multiple.
ELV—Not measured today.
Price to book
CNC1.38
ELV2.76
EV / EBITDA
CNC101.22
ELV—Not in the latest filing data.
Free cash flow yield
CNC−13.05%
ELV—Not in the latest filing data.
Dividend yield
CNC0%
ELV—Not in the latest filing data.
Profitability
How much of revenue becomes profit
Margins and returns on capital from the latest filing; revenue, net income and earnings per share over the trailing twelve months.
Filings: quarter to (CNC), (ELV)
MeasureCentene Corporation · CNCElevance Health · ELV
Gross margin
CNC6.5%
ELV90.1%
Operating margin
CNC−0.6%
ELV6%
Net margin
CNC−0.1%
ELV4.2%
Return on equity
CNC−0.5%
ELV—Not in the latest filing data.
Return on invested capital
CNC−0.6%
ELV3.2%
Revenuetrailing twelve months
CNC$195.73B
ELV—Not in the latest filing data.
Net incometrailing twelve months
CNC—Not derived for a year of losses.
ELV—Not in the latest filing data.
Earnings per sharetrailing twelve months
CNC—Not derived for a year of losses.
ELV—Not in the latest filing data.
Growth
How fast the business grew
Change against the same quarter a year earlier.
Filings: quarter to (CNC), (ELV)
MeasureCentene Corporation · CNCElevance Health · ELV
Revenue growthyear over year
CNC+1.9%
ELV—Not in the latest filing data.
Earnings growthyear over year
CNC+98.9%
ELV—Not in the latest filing data.
Free cash flow growthyear over year
CNC−203.4%
ELV—Not in the latest filing data.
Financial health
Balance sheet and quality scores
Leverage, liquidity and two published scores: Altman Z (below 1.8 the distress zone, above 3 the safe zone) and Piotroski F (0 to 9).
Filings: quarter to (CNC), (ELV)
MeasureCentene Corporation · CNCElevance Health · ELV
Debt to equity
CNC0.69
ELV0.66
Current ratiocurrent assets over current liabilities
CNC1.16
ELV1.44
Altman Z-score
CNC1.25
ELV1.98
Piotroski F-scoreout of 9
CNC2 of 9
ELV6 of 9
Trading and risk
How the shares trade
Volatility, sensitivity to the market, the deepest fall, short interest and how closely the two move together.
Closes to ; FINRA settlement
MeasureCentene Corporation · CNCElevance Health · ELV
Volatility21 sessions, annualised
CNC29.9%
ELV26.2%
Betaagainst the S&P 500, 5 years
CNC0.50
ELV0.45
Deepest fallpeak to trough, 5 years
CNC−74.1%
ELV−50.4%
Market regimeour reading at each model date
CNCStrong risk-off
ELVStrong risk-off
Short interestshare of the float
CNC2.1%settled 30 Sep 2026
ELV—Not measured today.
Days to covershort shares over average volume
CNC2.0
ELV3.9
Average volume3 months, shares a day
CNC4.5M
ELV1.16M
Moving togethercorrelation of daily returns, past year0.58, often together−1 opposite0 unrelated+1 together
Questions
Centene Corporation or Elevance Health: common questions
Which is larger by market value, Centene Corporation or Elevance Health?
Elevance Health, at $98.55B against $33.19B for Centene Corporation, on the latest closes (28 Oct 2026).
How did Centene Corporation and Elevance Health move over the past year against the S&P 500?
Over the past year Centene Corporation returned +102.3% and Elevance Health +22.9%, while the S&P 500 returned +12.7%. Prices at close 28 Oct 2026.
What does the model expect for Centene Corporation and Elevance Health over the next month?
+0.99% for Centene Corporation with a 78% chance of a rise, and −0.46% for Elevance Health with a 33% chance, over the next 21 sessions. Model readings 28 Oct 2026. These are model readings, not advice.
How do the operating margins of Centene Corporation and Elevance Health compare?
The operating margin is -0.6% for Centene Corporation and 6% for Elevance Health, and the gross margin 6.5% against 90.1%. Filings: quarter to 30 Sep 2026 and 30 Jun 2023.
Do Centene Corporation and Elevance Health shares move together?
Over the past year the correlation of their daily returns was 0.58 (often together); 1 means they always move together, 0 unrelated, −1 opposite. Prices at close 28 Oct 2026.
In the consoleCompare up to four companies with every model readingMembers see the 63-session chance of a rise and all four horizons, side by side in Research › Compare.
Model readings are research estimates, not investment advice. Prices: daily closes. Fundamentals: the latest SEC filings. Short interest: FINRA, settlement 30 Sep 2026. A dash means the figure is not in our data; it is never shown as zero. The model view follows a published rule: next month by the sign of the expected return, the long run positive at a fair value 10% or more above the price and negative at 10% or more below it.