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MARKETS / NYSE / CNC
NYSE · HOSPITAL & MEDICAL SERVICE PLANS · LARGE CAP

Centene Corp. CNC

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$174.6B
▲ 20.0% YoY
$-6.7B
▼ 301.9% YoY
$4.3B
In brief

What this company does

The company provides managed healthcare products and services, primarily through Medicaid, Medicare and commercial products. Its membership totaled 27.6 million as of December 31, 2025. During 2025, it operated in four segments: Medicaid, Medicare, Commercial and Other. Its Medicaid business served 12.5 million members in 30 states as of December 31, 2025. In Medicare, it served 1.0 million Medicare Advantage members across 32 states, primarily under the brand name Wellcare. Its Commercial business served 5.5 million Marketplace members across 29 states under the brand name Ambetter Health. Its Other segment covers specialty pharmacy operations, vision and dental services, clinical healthcare, behavioral health, and centralized services. It was organized in Wisconsin in 1993 as a holding company for its initial health plan and reincorporated in Delaware in 2001.

Written from the business description in CENTENE CORPORATION's annual report to the U.S. Securities and Exchange Commission, filed 17 February 2026. Every sentence was checked against that document before publication.

Growth
USD 174.6B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 174.6 · Net income -6.7
80B160B2008201120142017202020232025
Compound annual growth
+8.8%
+11.0%
+22.6%
+27.7%
−47.5%
−6.0%
+27.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +11.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−4 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -4.4% · Net -3.8%
1%2%3%-2%-4%2008201120142017202020232025
ROE
FY2025 · ROE -28.8%
5%10%15%-10%-20%2008201120142017202020232025

Each USD of equity lost 29 cents this year.

Cash & shareholders
USD 438.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 4.3
2.5B5.0B2008201120142017202020232025
Net buybacks $B Dividends $B
FY2025 · Dividends — · Net buybacks 0.4
2B-1B-2B2008201120142017202020232025

USD 438.0M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 76.7B
EquityUSD 20.0B
CashUSD 17.9B
Gross debtUSD 17.4B
Net debtUSD -487.0M
Current ratio1.10×

The company holds more cash than debt.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B174.6145.5140.1135.5118.0103.870.456.445.637.622.816.610.98.15.24.44.13.4
Operating income $B−7.63.22.91.31.83.11.81.51.21.30.70.50.30.10.20.20.10.1
EBITDA $B−7.03.73.51.92.33.62.11.71.41.40.80.50.30.20.20.20.2·
Income tax $B−0.11.00.90.80.51.00.50.50.30.60.30.20.10.00.10.10.00.1
Net income $B−6.73.32.71.21.31.81.30.90.80.60.40.30.20.00.10.10.10.1
Free cash flow $B4.3−0.57.35.33.34.60.80.61.11.50.51.10.30.20.20.10.20.2
EPS, diluted $−13.536.314.952.072.283.123.142.262.341.712.882.251.470.022.121.881.891.88
Dividend / sh $··················
Payout %··················
ROE %−28.812.710.84.75.19.411.310.113.014.018.218.215.10.212.913.613.9·
Shares out B0.490.500.530.550.580.580.420.410.350.170.120.120.110.050.050.05··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures · 5 divergences in 75 reconciliationsAUDITED

Reconciled in 13 of 19 fiscal years. 5 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures5 divergent
ActivityHospital & Medical Service Plans
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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