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

Centene Corporation

CNC Healthcare Healthcare Plans

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%
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
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% (at or above 15%: strong)
Next Y EPS Growth 8.80%
Next Y revenue growth 0.59%
Next 5Y EPS Growth 46.50% (at or above 15%: strong)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.1×, against a ten-year median of 0.3×; over the ten years it ranged from 0.0× in 2026 to 0.5× in 2018.
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.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Centene Corporation vs peers in Healthcare Plans (Q) = latest quarter vs a year earlier

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 →

CNC metrics, ten years each

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.

Source: company filings (standardised) and stockrow calculations.

Centene Corporation (CNC) Latest News

3 Jul

Impact 5 ·

2 Jul

Impact 5 ·
Impact 5 ·
stockrow.com/CNC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com