Which has grown faster, CNC or WAT?

Over the past five years, CNC grew revenue faster — CNC at a 11.48% CAGR versus WAT at 8.48%.

Is CNC or WAT more profitable?

WAT runs the higher net margin — CNC at -3.25% versus WAT at 11.91%.

Which has been the better investment, CNC or WAT?

Over the past 10-year, WAT delivered the higher annualized total return — CNC at 6.32% versus WAT at 10.40%. Past performance doesn't predict future results.

Centene Corporation (CNC) vs Waters Corporation (WAT)

CNC leads on 7 of 13 compared metrics.

A side-by-side comparison of Centene Corporation and Waters Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 16, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

Total return — CNC vs WAT

growth of $100 · last 25y

CNC +4208.8%WAT +904.0%CNC compounded faster

CNC WAT

CNC vs WAT: by the numbers

•CNC is the larger company ($30.48B vs $23.70B market cap).
•WAT is profitable (11.91% net margin) while CNC runs a net loss (-3.25%).
•CNC grew revenue faster over the past five years (11.48% vs 8.48% CAGR).

Which is better, CNC or WAT?

Metric tally: CNC 7 · WAT 6

It depends on what you're optimizing for:

GrowthCNC(faster 5Y revenue CAGR)

QualityWAT(higher ROIC)

Metrics side by side

Valuation

Metric	CNC	WAT
P/E ratio	—	45.46
Forward P/E	14.09●	21.79
P/S ratio	0.16●	7.79
P/B ratio	1.47●	1.92
PEG ratio	—	75.62
EV / EBITDA	—	37.31
FCF yield	20.20%●	0.90%

Profitability

Metric	CNC	WAT
Gross margin	14.93%	55.02%●
Operating margin	-3.68%	17.08%●
Net margin	-3.25%	11.91%●
ROE	-30.07%	2.94%●
ROIC	-13.41%	17.57%●

Growth (annualized)

Metric	CNC	WAT
Revenue CAGR (5Y)	11.48%●	8.48%
EPS CAGR (5Y)	14.68%●	5.16%
FCF CAGR (5Y)	5.28%●	-17.63%
Total return CAGR (5Y)	-3.19%	1.19%●

Frequently asked

Which is better, CNC or WAT?: It depends on your goal. growth: CNC (faster 5Y revenue CAGR); quality: WAT (higher ROIC). Across all compared metrics, CNC leads 7 to 6.
Which has grown faster, CNC or WAT?: Over the past five years, CNC grew revenue faster — CNC at a 11.48% CAGR versus WAT at 8.48%.
Is CNC or WAT more profitable?: WAT runs the higher net margin — CNC at -3.25% versus WAT at 11.91%.
Which has been the better investment, CNC or WAT?: Over the past 10-year, WAT delivered the higher annualized total return — CNC at 6.32% versus WAT at 10.40%. Past performance doesn't predict future results.

Go deeper

Full CNC analysis Full WAT analysis Interactive comparison tool

Dig into the metrics

Centene P/E ratio Waters P/E ratio Centene dividend yield Waters dividend yield Centene ROE Waters ROE Centene operating margin Waters operating margin Centene revenue growth Waters revenue growth Centene free cash flow Waters free cash flow

Centene & Waters appear in these rankings

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Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 16, 2026.