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Centene Corporation (CNC) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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Centene Corporation (CNC) stock price & volume — 10-year historical chart
Centene Corporation (CNC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Centene Corporation (CNC) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $3.37vs $2.23+51.1% | $49.9Bvs $47.5B+5.1% |
| Q1 2026 | Feb 6, 2026 | $1.19vs $1.22+2.5% | $49.7Bvs $48.4B+2.7% |
| Q4 2025 | Oct 29, 2025 | $0.50vs $0.14+445.4% | $49.7Bvs $47.7B+4.1% |
| Q3 2025 | Jul 25, 2025 | $0.16vs $0.11-243.4% | $48.7Bvs $44.1B+10.4% |
Centene Corporation (CNC) competitors in Government Program Managed Care — business model, growth, and fundamentals comparison
Centene Corporation (CNC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Centene Corporation (CNC) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 48.38B | 60.12B | 74.64B | 111.11B | 125.98B | 144.55B | 154B | 163.07B | 194.78B | 198.1B |
Revenue Growth % | 19.15% | 24.25% | 24.16% | 48.87% | 13.38% | 14.74% | 6.54% | 5.89% | 19.44% | 17.02% |
Medical Costs & Claims | 42.58B | 51.7B | 65.8B | 95.9B | 111.78B | 127.89B | 136.68B | 146.24B | 170.94B | 168.53B |
Medical Cost Ratio % | 88.01% | 85.99% | 88.15% | 86.31% | 88.73% | 88.48% | 88.76% | 89.68% | 87.76% | 85.07% |
Gross Profit | 5.8B▲ 0% | 8.42B▲ 45.2% | 8.84B▲ 5.0% | 15.22B▲ 72.1% | 14.2B▼ 6.7% | 16.66B▲ 17.3% | 17.32B▲ 4.0% | 16.83B▼ 2.8% | 23.83B▲ 41.6% | 29.57B▲ 0% |
Gross Margin % | 11.99% | 14.01% | 11.85% | 13.69% | 11.27% | 11.52% | 11.24% | 10.32% | 12.24% | 14.93% |
Gross Profit Growth % | 4.64% | 45.16% | 5.01% | 72.07% | -6.68% | 17.3% | 3.96% | -2.81% | 41.62% | - |
Operating Expenses | 4.6B | 6.96B | 7.06B | 12.13B | 12.41B | 15.34B | 14.38B | 13.65B | 31.45B | 36.86B |
OpEx / Revenue % | 9.51% | 11.58% | 9.46% | 10.92% | 9.85% | 10.61% | 9.34% | 8.37% | 16.15% | 18.61% |
Depreciation & Amortization | 361M | 495M | 643M | 1.26B | 1.33B | 1.43B | 1.29B | 1.24B | 1.27B | 960M |
Combined Ratio % | 97.52% | 97.57% | 97.61% | 97.23% | 98.58% | 99.09% | 98.1% | 98.05% | 103.91% | 103.68% |
Operating Income | 1.2B▲ 0% | 1.46B▲ 21.6% | 1.78B▲ 22.2% | 3.08B▲ 73.0% | 1.78B▼ 42.1% | 1.32B▼ 26.1% | 2.93B▲ 122.3% | 3.17B▲ 8.4% | -7.62B▼ 339.9% | -7.29B▲ 0% |
Operating Margin % | 2.48% | 2.43% | 2.39% | 2.77% | 1.42% | 0.91% | 1.9% | 1.95% | -3.91% | -3.68% |
Operating Income Growth % | -5.07% | 21.6% | 22.15% | 73.05% | -42.12% | -26.12% | 122.31% | 8.36% | -339.95% | - |
EBITDA | 1.56B | 1.95B | 2.42B | 4.34B | 3.12B | 2.75B | 4.22B | 4.42B | -6.34B | -5.93B |
EBITDA Margin % | 3.22% | 3.25% | 3.25% | 3.91% | 2.48% | 1.9% | 2.74% | 2.71% | -3.26% | -2.99% |
Interest Expense | 255M | 343M | 412M | 728M | 665M | 665M | 725M | 702M | 678M | 672M |
Non-Operating Income | -190M | -253M | -413M | -419M | -694M | -1.31B | -1.39B | -1.78B | -1.2B | -1.22B |
Pretax Income | 1.13B▲ 0% | 1.37B▲ 20.6% | 1.78B▲ 30.3% | 2.77B▲ 55.6% | 1.81B▼ 34.6% | 1.96B▲ 8.2% | 3.6B▲ 83.4% | 4.26B▲ 18.3% | -6.73B▼ 258.0% | -6.37B▲ 0% |
Pretax Margin % | 2.34% | 2.28% | 2.39% | 2.5% | 1.44% | 1.36% | 2.34% | 2.61% | -3.45% | -3.22% |
Income Tax | 326M | 474M | 473M | 979M | 477M | 760M | 899M | 963M | -50.96M | 77.04M |
Effective Tax Rate % | 28.75% | 34.65% | 26.54% | 35.3% | 26.31% | 38.74% | 24.99% | 22.62% | 0.76% | -1.21% |
Net Income | 828M▲ 0% | 900M▲ 8.7% | 1.32B▲ 46.8% | 1.81B▲ 36.9% | 1.35B▼ 25.5% | 1.2B▼ 10.8% | 2.7B▲ 124.8% | 3.31B▲ 22.3% | -6.67B▼ 301.9% | -6.44B▲ 0% |
Net Margin % | 1.71% | 1.5% | 1.77% | 1.63% | 1.07% | 0.83% | 1.75% | 2.03% | -3.43% | -3.25% |
Net Income Growth % | 47.33% | 8.7% | 46.78% | 36.87% | -25.5% | -10.76% | 124.79% | 22.32% | -301.91% | -286.59% |
EPS (Diluted) | 2.35▲ 0% | 2.26▼ 3.8% | 3.14▲ 38.9% | 3.12▼ 0.6% | 2.28▼ 26.9% | 2.07▼ 9.2% | 4.95▲ 139.1% | 6.31▲ 27.5% | -13.62▼ 315.8% | -13.00▲ 0% |
EPS Growth % | 36.63% | -3.83% | 38.94% | -0.64% | -26.92% | -9.21% | 139.13% | 27.47% | -315.85% | -295.83% |
EPS (Basic) | 2.40 | 2.31 | 3.19 | 3.17 | 2.31 | 2.09 | 4.97 | 6.33 | -13.61 | - |
Diluted Shares Outstanding | 353.09M | 398.51M | 420.41M | 579.13M | 590.52M | 582.04M | 545.7M | 523.74M | 491.07M | 495.59M |
Centene Corporation (CNC) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Assets | 21.86B | 30.9B | 40.99B | 68.72B | 78.38B | 76.87B | 84.64B | 82.44B | 77.66B | 81.17B |
Asset Growth % | 8.21% | 41.39% | 32.66% | 67.63% | 14.05% | -1.92% | 10.11% | -2.59% | -5.8% | -8.95% |
Total Investment Assets | 5.84B | 7.58B | 8.58B | 14.43B | 15.58B | 17B | 18.75B | 20.05B | 20.88B | 4M |
Long-Term Investments | 5.31B | 6.86B | 7.72B | 12.85B | 14.04B | 14.68B | 16.29B | 17.43B | 20.88B | 74.45B |
Short-Term Investments | 531M | 722M | 863M | 1.58B | 1.54B | 2.32B | 2.46B | 2.62B | 0 | 2.48B |
Total Current Assets | 8.7B | 12B | 20.32B | 23.39B | 28.5B | 30.13B | 40.76B | 38B | 35.99B | 44.99B |
Cash & Equivalents | 4.07B | 5.34B | 12.12B | 10.8B | 13.12B | 12.07B | 17.19B | 14.06B | 17.89B | 21.26B |
Receivables | 3.41B | 5.15B | 6.25B | 9.7B | 12.24B | 13.27B | 15.53B | 19.71B | 18.11B | 82.19B |
Other Current Assets | 687M | 784M | 1.09B | 1.32B | 1.6B | 2.46B | 5.57B | 1.6B | 0 | 1.82B |
Goodwill & Intangibles | 6.15B | 9.25B | 8.93B | 27.04B | 27.59B | 25.72B | 23.66B | 22.97B | 15.37B | 68.81B |
Goodwill | 4.75B | 7.01B | 6.86B | 18.65B | 19.77B | 18.81B | 17.56B | 17.56B | 10.84B | 10.84B |
Intangible Assets | 1.4B | 2.24B | 2.06B | 8.39B | 7.82B | 6.91B | 6.1B | 5.41B | 4.53B | 4.36B |
PP&E (Net) | 1.1B | 1.71B | 2.78B | 2.77B | 6.96B | 4.99B | 2.42B | 2.43B | 2.35B | 2.09B |
Other Assets | 589M | 1.08B | 1.25B | 2.66B | 1.28B | 1.35B | 1.52B | 1.62B | 2.16B | 2.3B |
Total Liabilities | 14.98B | 19.88B | 28.3B | 42.76B | 51.35B | 52.63B | 58.69B | 55.94B | 57.6B | 59.65B |
Total Debt | 4.7B | 6.69B | 14.51B | 18.32B | 22.66B | 21.33B | 18.88B | 19.43B | 18.78B | 16.37B |
Net Debt | 627M | 1.34B | 2.39B | 7.52B | 9.54B | 9.26B | 1.68B | 5.37B | 889M | -4.89B |
Long-Term Debt | 4.7B | 6.65B | 13.64B | 16.68B | 18.57B | 17.94B | 17.71B | 18.42B | 17.97B | 16.31B |
Short-Term Debt | 4M | 38M | 88M | 97M | 267M | 82M | 119M | 110M | 196M | 63M |
Total Current Liabilities | 9.33B | 11.97B | 12.93B | 21.59B | 25.77B | 28.46B | 36.72B | 34.26B | 21.48B | 40.05B |
Accounts Payable | 4.17B | 4.05B | 4B | 7.07B | 8.29B | 9.35B | 16.25B | 13.02B | 20.54B | 16.83B |
Deferred Revenue | 328M | 385M | 383M | 523M | 434M | 478M | 715M | 661M | 736M | 953M |
Other Current Liabilities | 4.29B | 6.83B | 7.47B | 12.23B | 14.24B | 16.75B | 18B | 18.31B | -50M | 5.37B |
Deferred Taxes | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 3.95B |
Other Liabilities | 952M | 1.26B | 921M | 1.62B | 1.99B | 2.48B | 2.74B | 1.83B | 15.8B | 2.55B |
Total Equity | 6.88B▲ 0% | 11.02B▲ 60.3% | 12.69B▲ 15.1% | 25.96B▲ 104.6% | 27.02B▲ 4.1% | 24.24B▼ 10.3% | 25.96B▲ 7.1% | 26.51B▲ 2.1% | 20.06B▼ 24.3% | 21.5B▲ 0% |
Equity Growth % | 13.58% | 60.31% | 15.14% | 104.55% | 4.08% | -10.31% | 7.09% | 2.13% | -24.35% | -70.62% |
Shareholders Equity | 6.85B | 10.92B | 12.55B | 25.77B | 26.8B | 24.06B | 25.84B | 26.41B | 19.95B | 21.43B |
Minority Interest | 26M | 106M | 141M | 189M | 227M | 180M | 116M | 100M | 103M | 75M |
Retained Earnings | 2.75B | 3.66B | 4.98B | 6.79B | 8.14B | 9.34B | 12.04B | 15.35B | 8.67B | 10.21B |
Common Stock | 4.35B | 0 | 0 | 1M | 1M | 1M | 1M | 1M | 1M | 1M |
Accumulated OCI | -3M | -56M | 134M | 337M | 77M | -1.13B | -652M | -504M | -58M | -171M |
Return on Equity (ROE) | 12.81% | 10.06% | 11.14% | 9.35% | 5.08% | 4.69% | 10.77% | 12.6% | -28.66% | -28.6% |
Return on Assets (ROA) | 3.94% | 3.41% | 3.67% | 3.3% | 1.83% | 1.55% | 3.35% | 3.96% | -8.34% | -7.87% |
Equity / Assets | 31.46% | 35.67% | 30.96% | 37.78% | 34.48% | 31.53% | 30.67% | 32.15% | 25.83% | 26.49% |
Debt / Equity | 0.68x | 0.61x | 1.14x | 0.71x | 0.84x | 0.88x | 0.73x | 0.73x | 0.94x | 0.76x |
Book Value per Share | 19.47 | 27.66 | 30.19 | 44.83 | 45.76 | 41.64 | 47.56 | 50.62 | 40.84 | 43.39 |
Tangible BV per Share | 2.06 | 4.44 | 8.96 | -1.86 | -0.97 | -2.55 | 4.21 | 6.76 | 9.55 | 12.72 |
Centene Corporation (CNC) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 1.49B | 1.23B | 1.48B | 5.5B | 4.21B | 6.26B | 8.05B | 154M | 5.09B | 7.18B |
Operating CF Growth % | -19.56% | -17.13% | 20.18% | 271.07% | -23.59% | 48.89% | 28.62% | -98.09% | 3203.9% | 533.58% |
Operating CF / Revenue % | 3.08% | 2.05% | 1.99% | 4.95% | 3.34% | 4.33% | 5.23% | 0.09% | 2.61% | 3.62% |
Net Income | 808M | 894M | 1.31B | 1.79B | 1.34B | 1.2B | 2.7B | 3.29B | -6.68B | -6.44B |
Depreciation & Amortization | 361M | 495M | 643M | 1.26B | 1.48B | 1.55B | 1.29B | 1.24B | 1.27B | 932M |
Stock-Based Compensation | 135M | 145M | 177M | 281M | 203M | 234M | 216M | 212M | 204M | 154M |
Deferred Taxes | -108M | -129M | 55M | -51M | -132M | -631M | -78M | 13M | -60M | -13M |
Other Non-Cash Items | -1M | 1B | 301M | 25M | -54M | 1.71B | 546M | -91M | 9.52B | 9.93B |
Working Capital Changes | 294M | -171M | -1B | 2.19B | 1.38B | 2.19B | 3.37B | -4.51B | 823M | 2.63B |
Cash from Investing | -1.26B | -4.58B | -1.53B | -6.96B | -3.3B | -2.92B | -1.28B | -1.05B | 453M | 1.07B |
Capital Expenditures | -422M | -675M | -730M | -869M | -910M | -1B | -799M | -644M | -767M | -832M |
Acquisitions | -50M | -2.06B | -36M | -3.58B | -466M | 1.02B | 619M | 990M | -19M | -19M |
Purchase of Investments | -2.7B | -3.85B | -2.58B | -7.4B | -7.4B | -6.74B | -6.62B | -7.18B | -4.54B | -3.9B |
Sale/Maturity of Investments | 1.9B | 1.99B | 1.81B | 4.92B | 5.46B | 3.8B | 5.52B | 5.79B | 5.78B | 5.82B |
Other Investing | 12M | 0 | 0 | -22M | 19M | 0 | 0 | 0 | 0 | 0 |
Cash from Financing | -16M | 4.69B | 6.81B | 260M | 1.36B | -4.2B | -1.57B | -2.41B | -1.6B | -2.42B |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | -65M | -71M | -75M | -626M | -297M | -3.1B | -1.63B | -3.12B | -475M | -463M |
Stock Issued | 0 | 2.78B | 0 | 0 | 0 | 70M | 44M | 46M | 37M | 37M |
Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -4M |
Other Financing | 5M | 9M | 16M | -34M | -102M | -41M | 0 | -6M | -19M | -6M |
Net Change in Cash | 142M▲ 0% | 1.27B▲ 794.4% | 6.78B▲ 433.9% | -1.32B▼ 119.5% | 2.32B▲ 275.2% | -1.04B▼ 145.0% | 5.12B▲ 590.3% | -3.13B▼ 161.1% | 3.83B▲ 222.2% | 5.7B▲ 0% |
Exchange Rate Effect | 0 | 9M | -2M | -131M | 50M | -187M | -85M | 174M | -114M | -131M |
Cash at Beginning | 3.93B | 4.07B | 5.34B | 12.12B | 10.8B | 13.12B | 12.07B | 17.19B | 14.16B | 17.96B |
Cash at End | 4.07B | 5.34B | 12.12B | 10.8B | 13.12B | 12.07B | 17.19B | 14.06B | 17.96B | 20.59B |
Free Cash Flow | 1.07B▲ 0% | 559M▼ 47.6% | 753M▲ 34.7% | 4.63B▲ 515.4% | 3.29B▼ 28.9% | 5.26B▲ 59.5% | 7.25B▲ 38.0% | -490M▼ 106.8% | 4.32B▲ 981.8% | 6.35B▲ 0% |
FCF Growth % | -30.94% | -47.61% | 34.7% | 515.4% | -28.9% | 59.54% | 37.99% | -106.75% | 981.84% | 325.34% |
FCF Margin % | 2.21% | 0.93% | 1.01% | 4.17% | 2.62% | 3.64% | 4.71% | -0.3% | 2.22% | 3.2% |
FCF per Share | 3.02 | 1.4 | 1.79 | 8 | 5.58 | 9.03 | 13.29 | -0.94 | 8.8 | 12.8 |
Centene Corporation (CNC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Combined Ratio | 97.52% | 97.57% | 97.61% | 97.23% | 98.58% | 99.09% | 98.1% | 98.05% | 103.91% | 103.68% |
Medical Cost Ratio | 88.01% | 85.99% | 88.15% | 86.31% | 88.73% | 88.48% | 88.76% | 89.68% | 87.76% | 85.07% |
Return on Equity (ROE) | 12.81% | 10.06% | 11.14% | 9.35% | 5.08% | 4.69% | 10.77% | 12.6% | -28.66% | -28.6% |
Return on Assets (ROA) | 3.94% | 3.41% | 3.67% | 3.3% | 1.83% | 1.55% | 3.35% | 3.96% | -8.34% | -7.87% |
Equity / Assets | 31.46% | 35.67% | 30.96% | 37.78% | 34.48% | 31.53% | 30.67% | 32.15% | 25.83% | 26.49% |
Book Value / Share | 19.47 | 27.66 | 30.19 | 44.83 | 45.76 | 41.64 | 47.56 | 50.62 | 40.84 | 43.39 |
Debt / Equity | 0.68x | 0.61x | 1.14x | 0.71x | 0.84x | 0.88x | 0.73x | 0.73x | 0.94x | 0.76x |
Revenue Growth | 19.15% | 24.25% | 24.16% | 48.87% | 13.38% | 14.74% | 6.54% | 5.89% | 19.44% | 17.02% |
Centene Corporation (CNC) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 28, 2026·SEC
Mar 24, 2026·SEC
Mar 10, 2026·SEC
Centene Corporation (CNC) stock FAQ — growth, dividends, profitability & financials explained
Centene Corporation (CNC) grew revenue by 19.4% over the past year. This is strong growth.
Centene Corporation (CNC) reported a net loss of $6.44B for fiscal year 2025.
Centene Corporation (CNC) has a return on equity (ROE) of -28.7%. Negative ROE indicates the company is unprofitable.
Centene Corporation (CNC) has a combined ratio of 103.9%. A ratio above 100% means claims and expenses exceed premiums.