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CNC logoCentene Corporation(CNC)Earnings, Financials & Key Ratios

CNC•NYSE•Insurance & Managed Care
$52.97
$26.15B mkt cap·Price updated May 6, 2026
SectorHealthcareIndustryHealth InsuranceSub-IndustryGovernment Program Managed Care
AboutCentene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which cover dually eligible individuals, as well as aged, blind, or disabled programs. Its health plans include primary and specialty physician care, inpatient and outpatient hospital care, emergency and urgent care, prenatal care, laboratory and X-ray, home-based primary care, transportation assistance, vision care, dental care, telehealth, immunization, specialty pharmacy, therapy, social work, nurse advisory, and care coordination services, as well as prescriptions and limited over-the-counter drugs, medical equipment, and behavioral health and abuse services. This segment also offers various individual, small group, and large group commercial healthcare products to employers and directly to members. The company's Specialty Services segment provides pharmacy benefits management services; nurse advice line and after-hours support services; vision and dental services, as well as staffing services to correctional systems and other government agencies; and services to Military Health System eligible beneficiaries. This segment offers its services and products to state programs, correctional facilities, healthcare organizations, employer groups, and other commercial organizations. The company provides its services through primary and specialty care physicians, hospitals, and ancillary providers. Centene Corporation was founded in 1984 and is headquartered in St. Louis, Missouri.Show more
  • Revenue$194.78B+19.4%
  • Combined Ratio103.91%+6.0%
  • Net Income-$6.67B-301.9%
  • Return on Equity-28.66%-327.5%
  • Medical Cost Ratio87.76%-2.1%
  • Operating Margin-3.91%-300.9%
  • Net Margin-3.43%-269.0%
  • ROA-8.34%-310.7%
  • Equity / Assets25.83%-19.7%
  • Book Value per Share40.84-19.3%
  • Tangible BV/Share9.55+41.2%
  • Debt/Equity0.94+27.7%
Analysis→Technical→

CNC Key Insights

Centene Corporation (CNC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 88 (top 12%)
  • ✓Share count reduced 6.2% through buybacks
  • ✓Trading at only 1.3x book value

✗Weaknesses

  • ✗High loss ratio of 87.8%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CNC Price & Volume

Centene Corporation (CNC) stock price & volume — 10-year historical chart

Loading chart...

CNC Growth Metrics

Centene Corporation (CNC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years23.95%
5 Years11.88%
3 Years10.45%
TTM17.02%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-286.59%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-295.83%

Return on Capital

10 Years5.58%
5 Years0.86%
3 Years-0.64%
Last Year-14.6%

CNC Recent Earnings

Centene Corporation (CNC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
Apr 28, 2026
EPS
$3.37
Est $2.23
+51.1%
Revenue
$49.9B
Est $47.5B
+5.1%
Q1 2026
Feb 6, 2026
EPS
$1.19
Est $1.22
+2.5%
Revenue
$49.7B
Est $48.4B
+2.7%
Q4 2025
Oct 29, 2025
EPS
$0.50
Est $0.14
+445.4%
Revenue
$49.7B
Est $47.7B
+4.1%
Q3 2025
Jul 25, 2025
EPS
$0.16
Est $0.11
-243.4%
Revenue
$48.7B
Est $44.1B
+10.4%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 28, 2026
$3.37vs $2.23+51.1%
$49.9Bvs $47.5B+5.1%
Q1 2026Feb 6, 2026
$1.19vs $1.22+2.5%
$49.7Bvs $48.4B+2.7%
Q4 2025Oct 29, 2025
$0.50vs $0.14+445.4%
$49.7Bvs $47.7B+4.1%
Q3 2025Jul 25, 2025
$0.16vs $0.11-243.4%
$48.7Bvs $44.1B+10.4%
Based on last 12 quarters of dataView full earnings history →

CNC Peer Comparison

Centene Corporation (CNC) competitors in Government Program Managed Care — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MOH logoMOHMolina Healthcare, Inc.Direct Competitor10.01B192.1721.5411.75%0.42%4.44%0.97
UNH logoUNHUnitedHealth Group IncorporatedDirect Competitor330.28B363.8727.5011.81%2.68%11.54%4.87%0.77
ELV logoELVElevance Health Inc.Direct Competitor80.15B369.0714.6912.62%2.62%11.92%3.96%0.75
HUM logoHUMHumana Inc.Direct Competitor28.76B239.5324.3410.06%0.82%6.17%1.3%0.73
CVS logoCVSCVS Health CorporationDirect Competitor102.56B80.6958.057.85%0.44%2.35%7.61%1.24
ALHC logoALHCAlignment Healthcare, Inc.Product Competitor3.74B18.30-4945.9546.06%0.47%11.5%3.03%1.89
OSCR logoOSCROscar Health, Inc.Product Competitor4.71B17.94-10.6227.5%-3.79%-45.19%22.49%0.44
CLOV logoCLOVClover Health Investments, Corp.Product Competitor1.35B2.61-15.3540.34%-4.45%-27.71%

Compare CNC vs Peers

Centene Corporation (CNC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MOH

Most directly comparable listed peer for CNC.

Scale Benchmark

vs UNH

Larger-name benchmark to compare CNC against a more recognizable public peer.

Peer Set

Compare Top 5

vs MOH, UNH, ELV, HUM

CNC Income Statement

Centene Corporation (CNC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue48.38B60.12B74.64B111.11B125.98B144.55B154B163.07B194.78B198.1B
Revenue Growth %19.15%24.25%24.16%48.87%13.38%14.74%6.54%5.89%19.44%17.02%
Medical Costs & Claims42.58B51.7B65.8B95.9B111.78B127.89B136.68B146.24B170.94B168.53B
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 Expenses4.6B6.96B7.06B12.13B12.41B15.34B14.38B13.65B31.45B36.86B
OpEx / Revenue %9.51%11.58%9.46%10.92%9.85%10.61%9.34%8.37%16.15%18.61%
Depreciation & Amortization361M495M643M1.26B1.33B1.43B1.29B1.24B1.27B960M
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%-
EBITDA1.56B1.95B2.42B4.34B3.12B2.75B4.22B4.42B-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 Expense255M343M412M728M665M665M725M702M678M672M
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 Tax326M474M473M979M477M760M899M963M-50.96M77.04M
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)2.402.313.193.172.312.094.976.33-13.61-
Diluted Shares Outstanding353.09M398.51M420.41M579.13M590.52M582.04M545.7M523.74M491.07M495.59M

CNC Balance Sheet

Centene Corporation (CNC) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets21.86B30.9B40.99B68.72B78.38B76.87B84.64B82.44B77.66B81.17B
Asset Growth %8.21%41.39%32.66%67.63%14.05%-1.92%10.11%-2.59%-5.8%-8.95%
Total Investment Assets5.84B7.58B8.58B14.43B15.58B17B18.75B20.05B20.88B4M
Long-Term Investments5.31B6.86B7.72B12.85B14.04B14.68B16.29B17.43B20.88B74.45B
Short-Term Investments531M722M863M1.58B1.54B2.32B2.46B2.62B02.48B
Total Current Assets8.7B12B20.32B23.39B28.5B30.13B40.76B38B35.99B44.99B
Cash & Equivalents4.07B5.34B12.12B10.8B13.12B12.07B17.19B14.06B17.89B21.26B
Receivables3.41B5.15B6.25B9.7B12.24B13.27B15.53B19.71B18.11B82.19B
Other Current Assets687M784M1.09B1.32B1.6B2.46B5.57B1.6B01.82B
Goodwill & Intangibles6.15B9.25B8.93B27.04B27.59B25.72B23.66B22.97B15.37B68.81B
Goodwill4.75B7.01B6.86B18.65B19.77B18.81B17.56B17.56B10.84B10.84B
Intangible Assets1.4B2.24B2.06B8.39B7.82B6.91B6.1B5.41B4.53B4.36B
PP&E (Net)1.1B1.71B2.78B2.77B6.96B4.99B2.42B2.43B2.35B2.09B
Other Assets589M1.08B1.25B2.66B1.28B1.35B1.52B1.62B2.16B2.3B
Total Liabilities14.98B19.88B28.3B42.76B51.35B52.63B58.69B55.94B57.6B59.65B
Total Debt4.7B6.69B14.51B18.32B22.66B21.33B18.88B19.43B18.78B16.37B
Net Debt627M1.34B2.39B7.52B9.54B9.26B1.68B5.37B889M-4.89B
Long-Term Debt4.7B6.65B13.64B16.68B18.57B17.94B17.71B18.42B17.97B16.31B
Short-Term Debt4M38M88M97M267M82M119M110M196M63M
Total Current Liabilities9.33B11.97B12.93B21.59B25.77B28.46B36.72B34.26B21.48B40.05B
Accounts Payable4.17B4.05B4B7.07B8.29B9.35B16.25B13.02B20.54B16.83B
Deferred Revenue328M385M383M523M434M478M715M661M736M953M
Other Current Liabilities4.29B6.83B7.47B12.23B14.24B16.75B18B18.31B-50M5.37B
Deferred Taxes001000K1000K1000K1000K1000K1000K1000K3.95B
Other Liabilities952M1.26B921M1.62B1.99B2.48B2.74B1.83B15.8B2.55B
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 Equity6.85B10.92B12.55B25.77B26.8B24.06B25.84B26.41B19.95B21.43B
Minority Interest26M106M141M189M227M180M116M100M103M75M
Retained Earnings2.75B3.66B4.98B6.79B8.14B9.34B12.04B15.35B8.67B10.21B
Common Stock4.35B001M1M1M1M1M1M1M
Accumulated OCI-3M-56M134M337M77M-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 / Assets31.46%35.67%30.96%37.78%34.48%31.53%30.67%32.15%25.83%26.49%
Debt / Equity0.68x0.61x1.14x0.71x0.84x0.88x0.73x0.73x0.94x0.94x
Book Value per Share19.4727.6630.1944.8345.7641.6447.5650.6240.8443.39
Tangible BV per Share2.064.448.96-1.86-0.97-2.554.216.769.5512.72

CNC Cash Flow Statement

Centene Corporation (CNC) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations1.49B1.23B1.48B5.5B4.21B6.26B8.05B154M5.09B5.09B
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%2.57%
Net Income808M894M1.31B1.79B1.34B1.2B2.7B3.29B-6.68B-6.44B
Depreciation & Amortization361M495M643M1.26B1.48B1.55B1.29B1.24B1.27B932M
Stock-Based Compensation135M145M177M281M203M234M216M212M204M154M
Deferred Taxes-108M-129M55M-51M-132M-631M-78M13M-60M-13M
Other Non-Cash Items-1M1B301M25M-54M1.71B546M-91M9.52B9.93B
Working Capital Changes294M-171M-1B2.19B1.38B2.19B3.37B-4.51B823M2.63B
Cash from Investing-1.26B-4.58B-1.53B-6.96B-3.3B-2.92B-1.28B-1.05B453M1.07B
Capital Expenditures-422M-675M-730M-869M-910M-1B-799M-644M-767M-832M
Acquisitions-50M-2.06B-36M-3.58B-466M1.02B619M990M-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 Investments1.9B1.99B1.81B4.92B5.46B3.8B5.52B5.79B5.78B5.82B
Other Investing12M00-22M19M00000
Cash from Financing-16M4.69B6.81B260M1.36B-4.2B-1.57B-2.41B-1.6B-2.42B
Dividends Paid0000000000
Share Repurchases-65M-71M-75M-626M-297M-3.1B-1.63B-3.12B-475M-463M
Stock Issued02.78B00070M44M46M37M37M
Debt Issuance (Net)1000K1000K1000K1000K1000K-1000K1000K1000K-1000K-4M
Other Financing5M9M16M-34M-102M-41M0-6M-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 Effect09M-2M-131M50M-187M-85M174M-114M-131M
Cash at Beginning3.93B4.07B5.34B12.12B10.8B13.12B12.07B17.19B14.16B17.96B
Cash at End4.07B5.34B12.12B10.8B13.12B12.07B17.19B14.06B17.96B20.59B
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 Share3.021.41.7985.589.0313.29-0.948.88.8

CNC Key Ratios

Centene Corporation (CNC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Combined Ratio97.52%97.57%97.61%97.23%98.58%99.09%98.1%98.05%103.91%103.68%
Medical Cost Ratio88.01%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 / Assets31.46%35.67%30.96%37.78%34.48%31.53%30.67%32.15%25.83%26.49%
Book Value / Share19.4727.6630.1944.8345.7641.6447.5650.6240.8443.39
Debt / Equity0.68x0.61x1.14x0.71x0.84x0.88x0.73x0.73x0.94x0.94x
Revenue Growth19.15%24.25%24.16%48.87%13.38%14.74%6.54%5.89%19.44%17.02%

CNC SEC Filings & Documents

Centene Corporation (CNC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 28, 2026·SEC

Material company update

Mar 24, 2026·SEC

Material company update

Mar 10, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 17, 2026·SEC

FY 2025

Feb 18, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 28, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 25, 2025·SEC

CNC Frequently Asked Questions

Centene Corporation (CNC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

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.

Dividend & Returns

Centene Corporation (CNC) has a return on equity (ROE) of -28.7%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Centene Corporation (CNC) has a combined ratio of 103.9%. A ratio above 100% means claims and expenses exceed premiums.

Explore More CNC

Centene Corporation (CNC) financial analysis — history, returns, DCA and operating performance tools

Full CNC Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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