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Stocks · Health care · Hospital & Medical Service Plans

Centene Corporation

CNC Clue Score42
United States Fiscal year ends December CIK 0001071739
$67.02 +2.54% Close, 12 Oct 2026
Alert on the numbers Alert on insider trades
Price $67.02 +6.31% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue37.58Operating income1.26Net income0.56EPS, diluted1.71Fiscal year 2017Revenue45.62 +21.4%Operating income1.20Net income0.83 +47.3%EPS, diluted2.34 +36.8%Fiscal year 2018Revenue56.44 +23.7%Operating income1.46Net income0.90 +8.7%EPS, diluted2.26 −3.4%Fiscal year 2019Revenue70.36 +24.7%Operating income1.78Net income1.32 +46.8%EPS, diluted3.14 +38.9%Fiscal year 2020Revenue103.80 +47.5%Operating income3.08Net income1.81 +36.9%EPS, diluted3.12 −0.6%Fiscal year 2021Revenue117.98 +13.7%Operating income1.78Net income1.35 −25.5%EPS, diluted2.28 −26.9%Fiscal year 2022Revenue135.48 +14.8%Operating income1.32Net income1.20 −10.8%EPS, diluted2.07 −9.2%Fiscal year 2023Revenue140.10 +3.4%Operating income2.93Net income2.70 +124.8%EPS, diluted4.95 +139.1%Fiscal year 2024Revenue145.51 +3.9%Operating income3.18Net income3.31 +22.3%EPS, diluted6.31 +27.5%Fiscal year 2025Revenue174.58 +20.0%Operating income−7.62Net income−6.67 −301.9%EPS, diluted−13.53 −314.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 37.58 45.62 56.44 70.36 103.80 117.98 135.48 140.10 145.51 174.58
Growth +21.4% +23.7% +24.7% +47.5% +13.7% +14.8% +3.4% +3.9% +20.0%
Operating income 1.26 1.20 1.46 1.78 3.08 1.78 1.32 2.93 3.18 −7.62
Net income 0.56 0.83 0.90 1.32 1.81 1.35 1.20 2.70 3.31 −6.67
Growth +47.3% +8.7% +46.8% +36.9% −25.5% −10.8% +124.8% +22.3% −301.9%
EPS, diluted 1.71 2.34 2.26 3.14 3.12 2.28 2.07 4.95 6.31 −13.53
Growth +36.8% −3.4% +38.9% −0.6% −26.9% −9.2% +139.1% +27.5% −314.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Operating margin3.4%Net margin1.5%Free cash flow margin4.1%Fiscal year 2017Operating margin2.6%Net margin1.8%Free cash flow margin2.3%Fiscal year 2018Operating margin2.6%Net margin1.6%Free cash flow margin1.0%Fiscal year 2019Operating margin2.5%Net margin1.9%Free cash flow margin1.1%Fiscal year 2020Operating margin3.0%Net margin1.7%Free cash flow margin4.5%Fiscal year 2021Gross margin12.3%Operating margin1.5%Net margin1.1%Free cash flow margin2.8%Fiscal year 2022Gross margin12.5%Operating margin1.0%Net margin0.9%Free cash flow margin3.9%Fiscal year 2023Gross margin12.6%Operating margin2.1%Net margin1.9%Free cash flow margin5.2%Fiscal year 2024Gross margin11.7%Operating margin2.2%Net margin2.3%Free cash flow margin−0.3%Fiscal year 2025Gross margin8.1%Operating margin−4.4%Net margin−3.8%Free cash flow margin2.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a n/a n/a 12.3% 12.5% 12.6% 11.7% 8.1%
Operating margin 3.4% 2.6% 2.6% 2.5% 3.0% 1.5% 1.0% 2.1% 2.2% −4.4%
Net margin 1.5% 1.8% 1.6% 1.9% 1.7% 1.1% 0.9% 1.9% 2.3% −3.8%
Free cash flow margin 4.1% 2.3% 1.0% 1.1% 4.5% 2.8% 3.9% 5.2% −0.3% 2.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.85Capital expenditure−0.31Free cash flow1.55Buybacks−0.06Fiscal year 2017Operating cash flow1.49Capital expenditure−0.42Free cash flow1.07 −30.9%Buybacks−0.07Fiscal year 2018Operating cash flow1.23Capital expenditure−0.68Free cash flow0.56 −47.6%Buybacks−0.07Fiscal year 2019Operating cash flow1.48Capital expenditure−0.73Free cash flow0.75 +34.7%Buybacks−0.08Fiscal year 2020Operating cash flow5.50Capital expenditure−0.87Free cash flow4.63 +515.4%Buybacks−0.63Fiscal year 2021Operating cash flow4.21Capital expenditure−0.91Free cash flow3.30 −28.9%Buybacks−0.30Fiscal year 2022Operating cash flow6.26Capital expenditure−1.00Free cash flow5.26 +59.5%Buybacks−3.10Fiscal year 2023Operating cash flow8.05Capital expenditure−0.80Free cash flow7.25 +38.0%Buybacks−1.63Fiscal year 2024Operating cash flow0.15Capital expenditure−0.64Free cash flow−0.49 −106.8%Buybacks−3.12Fiscal year 2025Operating cash flow5.09Capital expenditure−0.77Free cash flow4.32Buybacks−0.48
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.85 1.49 1.23 1.48 5.50 4.21 6.26 8.05 0.15 5.09
Capital expenditure −0.31 −0.42 −0.68 −0.73 −0.87 −0.91 −1.00 −0.80 −0.64 −0.77
Free cash flow 1.55 1.07 0.56 0.75 4.63 3.30 5.26 7.25 −0.49 4.32
Growth −30.9% −47.6% +34.7% +515.4% −28.9% +59.5% +38.0% −106.8%
Buybacks −0.06 −0.07 −0.07 −0.08 −0.63 −0.30 −3.10 −1.63 −3.12 −0.48

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash3.93Total debt4.66Net cash (debt)−0.73Shareholders’ equity5.90Debt to equity0.79Fiscal year 2017Cash4.07Total debt4.70Net cash (debt)−0.63Shareholders’ equity6.85Debt to equity0.69Fiscal year 2018Cash5.34Total debt6.69Net cash (debt)−1.34Shareholders’ equity10.92Debt to equity0.61Fiscal year 2019Cash12.12Total debt13.73Net cash (debt)−1.60Shareholders’ equity12.55Debt to equity1.09Fiscal year 2020Cash10.80Total debt16.78Net cash (debt)−5.98Shareholders’ equity25.77Debt to equity0.65Fiscal year 2021Cash13.12Total debt18.84Net cash (debt)−5.72Shareholders’ equity26.80Debt to equity0.70Fiscal year 2022Cash12.07Total debt18.02Net cash (debt)−5.95Shareholders’ equity24.06Debt to equity0.75Fiscal year 2023Cash17.19Total debt17.83Net cash (debt)−0.64Shareholders’ equity25.84Debt to equity0.69Fiscal year 2024Cash14.06Total debt18.53Net cash (debt)−4.47Shareholders’ equity26.41Debt to equity0.70Fiscal year 2025Cash17.89Total debt17.40Net cash (debt)0.49Shareholders’ equity19.95Debt to equity0.87
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 3.93 4.07 5.34 12.12 10.80 13.12 12.07 17.19 14.06 17.89
Total debt 4.66 4.70 6.69 13.73 16.78 18.84 18.02 17.83 18.53 17.40
Net cash (debt) −0.73 −0.63 −1.34 −1.60 −5.98 −5.72 −5.95 −0.64 −4.47 0.49
Shareholders’ equity 5.90 6.85 10.92 12.55 25.77 26.80 24.06 25.84 26.41 19.95
Debt to equity 0.79 0.69 0.61 1.09 0.65 0.70 0.75 0.69 0.70 0.87

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
37.58 45.62 56.44 70.36 103.80 117.98 135.48 140.10 145.51 174.58
Growth +21.4% +23.7% +24.7% +47.5% +13.7% +14.8% +3.4% +3.9% +20.0%
1.86 1.85 2.39 2.47 3.30 4.89 7.03 3.56 2.73 2.67
n/a n/a n/a n/a n/a 14.49 16.92 17.64 17.07 14.21
Growth +16.8% +4.2% −3.2% −16.8%
3.67 4.45 6.04 6.53 9.38 9.60 11.59 12.56 12.40 12.90
1.26 1.20 1.46 1.78 3.08 1.78 1.32 2.93 3.18 −7.62
Growth −5.1% +21.6% +22.2% +73.0% −42.1% −26.1% +122.3% +8.4% −340.1%
1.16 1.13 1.37 1.78 2.77 1.81 1.96 3.60 4.26 −6.73
0.60 0.33 0.47 0.47 0.98 0.48 0.76 0.90 0.96 −0.05
0.56 0.83 0.90 1.32 1.81 1.35 1.20 2.70 3.31 −6.67
Growth +47.3% +8.7% +46.8% +36.9% −25.5% −10.8% +124.8% +22.3% −301.9%
Per share
1.76 2.40 2.31 3.19 3.17 2.31 2.09 4.97 6.33 −13.53
1.71 2.34 2.26 3.14 3.12 2.28 2.07 4.95 6.31 −13.53
Growth +36.8% −3.4% +38.9% −0.6% −26.9% −9.2% +139.1% +27.5% −314.4%
319.1 344.9 390.2 413.5 570.7 582.8 575.2 543.3 521.8 493.1
328.0 353.4 398.5 420.4 579.1 590.5 582.0 545.7 523.7 493.1
Growth +7.8% +12.8% +5.5% +37.8% +2.0% −1.4% −6.2% −4.0% −5.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 11.0% a year over five years.
  • The diluted share count fell 14.9% in five years, so buybacks did some of the work per share.
  • Operating margin is down 7.3 points on five years ago, at -4.4%.
  • A net loss in 1 of 10 years on file.