Tuesday 13 October 2026 Export CNC’s income statement to Excel — free account

Centene Corporation

Centene Corporation’s revenue for fiscal 2025 (year ended December 2025) was $194.8 billion, up 19.4% from fiscal 2024. In the quarter to June 2026, revenue grew 9.92%, EPS grew 533.3%, free cash flow grew 116.6% and total debt fell 8.37%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for ten consecutive years.

68.86 1.84 +2.75%

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Market cap: $33.1B
P/E: 0.0×
Fwd P/E: 24.8×
Dividend yield: —
F-score: 5/9
Altman Z: 2.64
Beneish M: −3.07
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Impairment Oct 29, 2025

All filings →

Insider Decisions trades per month

Total sells 14.63

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	—	—	—	—	1	—	2	—	—

Insider Ownership 1.75%

Capital & Financial Ratios $m

Market Cap 33,110.00

Revenue 202,938.00

Net Income (5,106.00)

Free Cash Flow 8,951.00

Net Debt (10,952.00)

Current Ratio 1.15

Debt/Equity 0.71

P/E ratio 0.00

Fwd P/E 24.80

P/S ratio 0.17

P/B ratio 1.50

Past 5Y EPS Growth —

This Y EPS Growth 134.17%

Next Y EPS Growth 8.80%

Next Y revenue growth 0.59%

Next 5Y EPS Growth 46.50%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 12.80%

10-year low 10-year high

P/B against its own 10 years 39.34%

10-year low 10-year high

EV/Sales against its own 10 years 11.25%

10-year low 10-year high

EV/FCF against its own 10 years 3.69%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2027	Powerpack
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	19,652	16,685	20,320	27,057
Receivables	15,532	19,713	18,105	18,076
Inventory	—	—	—	—
Other	5,572	1,601	1,945	1,552
	40,756	37,999	40,370	46,685

	2023	2024	2025	Q'26
Payables	16,420	13,174	13,774	17,965
ST’ Debt	119	110	50	75
Other	18,000	18,308	20,544	20,262
	36,716	34,261	36,696	40,759

Compound Annual Growth %

	10y	5y	3y
Sales	23.95%	11.88%	10.45%
Cash Flow	22.70%	(1.56%)	(6.68%)
Earnings	0.00%	0.00%	0.00%
Book Value	24.90%	(5.00%)	(6.08%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	49,944	53,579	—	—	—
’25	46,620	48,742	49,690	49,725	194,777
’24	40,407	39,836	42,023	40,805	163,071
’23	38,889	37,608	38,042	39,460	153,999
’22	37,185	35,936	35,865	35,561	144,547
’21	29,983	31,025	32,406	32,568	125,982
’20	26,025	27,712	29,090	28,288	111,115

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	4,366	3,590	—	—	—
’25	1,510	1,785	1,356	437	5,088
’24	(456)	2,175	(978)	(587)	154
’23	4,269	2,546	1,021	217	8,053
’22	1,151	3,354	3,332	(1,576)	6,261
’21	43	1,685	1,802	675	4,205
’20	(240)	3,714	(952)	2,981	5,503

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	4,166	3,416	—	—	—
’25	1,375	1,577	1,145	224	4,321
’24	(607)	1,989	(1,131)	(741)	(490)
’23	4,044	2,331	885	(6)	7,254
’22	909	3,072	3,085	(1,809)	5,257
’21	(144)	1,435	1,577	427	3,295
’20	(417)	3,479	(1,203)	2,775	4,634

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	3.11	2.19	—	—	—
’25	2.63	(0.51)	(13.50)	(2.24)	(13.53)
’24	2.16	2.16	1.36	0.56	6.31
’23	2.04	1.92	0.87	0.08	4.95
’22	1.44	(0.29)	1.27	(0.38)	2.07
’21	1.19	(0.92)	0.99	1.01	2.28
’20	0.08	2.05	0.97	(0.02)	3.12

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	23.68	28.00	48.81	41.62	43.96	57.16	73.19	60.83	55.03	25.08	Analyst estimates 2026–2028 Powerpack
	High	37.79	52.33	74.49	69.25	74.70	85.44	98.53	83.61	81.42	66.81
People
People	Employees	30,500	33,700	47,300	56,600	71,300	72,500	74,300	67,700	60,500	61,100
	Revenue/emp, $m	1.33	1.44	1.27	1.32	1.56	1.74	1.95	2.27	2.70	3.19
Income, $m
Income, $m	Revenue	40,607	48,382	60,116	74,639	111,115	125,982	144,547	153,999	163,071	194,777
	Gross margin, %	13.65	11.99	14.01	11.85	13.69	11.27	11.52	11.24	10.32	7.12
	EBT	1,160	1,134	1,368	1,782	2,773	1,813	1,962	3,598	4,257	(6,728)
	EBT margin, %	2.86	2.34	2.28	2.39	2.50	1.44	1.36	2.34	2.61	(3.45)
	Net income	561	808	894	1,309	1,794	1,336	1,202	2,699	3,294	(6,677)
	Depreciation	278	361	495	643	1,259	1,335	1,430	1,293	1,241	1,275
Per share, $
Per share, $	Revenue	127.24	140.30	154.05	180.51	194.69	216.15	251.30	283.44	312.52	394.99
	Earnings	1.76	2.40	2.31	3.19	3.17	2.31	2.09	4.97	6.33	(13.53)
	Cash flow	5.80	4.32	3.16	3.59	9.64	7.21	10.89	14.82	0.30	10.32
	Capex	(0.96)	(1.22)	(1.73)	(1.77)	(1.52)	(1.56)	(1.75)	(1.47)	(1.23)	(1.56)
	Free cash flow	4.84	3.09	1.43	1.82	8.12	5.65	9.14	13.35	(0.94)	8.76
	Book value	18.52	19.90	28.22	30.62	45.35	46.22	42.04	47.74	50.79	40.63
	Shares, m	319	345	390	413	571	583	575	543	522	493
Valuation, ×
Valuation, ×	P/E	18.06	21.38	24.32	19.71	19.24	35.67	38.34	15.58	9.66	0.00
	P/S	0.23	0.37	0.37	0.35	0.31	0.38	0.32	0.27	0.19	0.10
	P/B	1.57	2.58	2.04	2.05	1.32	1.78	1.90	1.61	1.19	1.01
	EV/Sales	0.23	0.37	0.38	0.36	0.35	0.41	0.34	0.26	0.21	0.09
	EV/FCF	6.17	16.67	41.36	35.51	8.34	15.84	9.41	5.50	(68.28)	4.02
Cash, $m
Cash, $m	Operating cash flow	1,851	1,489	1,234	1,483	5,503	4,205	6,261	8,053	154	5,088
	Capex	(306)	(422)	(675)	(730)	(869)	(910)	(1,004)	(799)	(644)	(767)
	Free cash flow	1,545	1,067	559	753	4,634	3,295	5,257	7,254	(490)	4,321
Balance, $m
Balance, $m	Working capital	(258)	(629)	27	7,391	1,808	2,732	1,664	4,040	3,738	3,674
	Total debt	4,655	4,699	6,686	13,726	16,779	18,838	18,020	17,829	18,533	17,401
	Net debt	220	96	622	740	4,399	4,181	3,625	(1,823)	1,848	(2,919)
	Shareholders’ equity	5,909	6,864	11,013	12,659	25,885	26,940	24,181	25,937	26,500	20,033
Returns, %
Returns, %	ROA	4.08	3.94	3.41	3.67	3.30	1.83	1.55	3.35	3.96	(8.38)
	ROIC	12.88	10.77	7.83	8.31	6.36	3.58	2.96	7.59	7.00	(27.84)
	ROE	13.92	12.96	10.07	11.16	9.38	5.10	4.70	10.78	12.61	(28.69)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
UNH UnitedHealth Group Incorporated	$339.8B	24.3×	23.3×	+0.37% (above 0%: growing)	+61.50% (above 0%: growing)	+62.69% (above 0%: growing)	20.80%	7.13%	Compare
CVS CVS Health Corporation	$112.2B	22.9×	15.4×	+7.26% (above 0%: growing)	+187.65% (above 0%: growing)	+338.29% (above 0%: growing)	44.52%	4.43%	Compare
ELV Elevance Health, Inc.	$91.5B	18.8×	20.3×	+1.40% (above 0%: growing)	−13.08% (below 0%: shrinking)	−9.01% (below 0%: shrinking)	15.77%	4.56%	Compare
CI Cigna Group	$74.9B	11.7×	11.4×	+6.68% (above 0%: growing)	+10.16% (above 0%: growing)	+66.93% (above 0%: growing)	88.24%	3.73%	Compare
HUM Humana Inc.	$52.1B	39.5×	42.9×	+26.18% (above 0%: growing)	+27.88% (above 0%: growing)	+58.51% (above 0%: growing)	13.45%	3.33%	Compare
CNC Centene Corporation	$33.1B	— (loss-making)	24.8×	+9.92% (above 0%: growing)	n/m	+116.61% (above 0%: growing)	8.59%	2.24%
MOH Molina Healthcare, Inc	$10.7B	— (loss-making)	55.0×	−4.84% (below 0%: shrinking)	−74.95% (below 0%: shrinking)	+5.81% (above 0%: growing)	13.19%	1.33%	Compare
OSCR Oscar Health, Inc.	$10.5B	19.8×	29.7×	+70.40% (above 0%: growing)	n/m	+316.29% (above 0%: growing)	22.25%	7.96%	Compare
CLOV Clover Health Investments, Corp.	$2.5B	— (loss-making)	292×	+55.60% (above 0%: growing)	n/m	+406.43% (above 0%: growing)	20.59%	3.77%	Compare
Median of peers	$63.5B	21.3×	26.5×	+6.97%	+19.02%	+64.81%	20.70%	4.10%

All 12 Healthcare Plans stocks →

Centene Corporation (CNC) key facts

Concern: Centene Corporation reported a net loss of $6.7 billion, or a loss of $13.53 per share, for fiscal 2025.
Strength: Centene Corporation’s revenue for fiscal 2025 (year ended December 2025) was $194.8 billion, up 19.4% from fiscal 2024.
Centene Corporation (CNC) is a Healthcare Plans company in the Healthcare sector, listed on the New York Stock Exchange.
As of October 13, 2026, CNC traded at $68.86, a market capitalization of $33.1 billion.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 0.2× sales.
Return on equity was −28.7% and debt-to-equity 0.71.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.64 (grey zone) for fiscal 2025.