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Centene Corporation

Centene Corporation

NYSE•CNC
CEO: Ms. Sarah M. London
Sector: Healthcare
Industry: Medical - Healthcare Plans
Listing Date: 2001-12-13
Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support. This segment also provides healthcare products. The Medicare segment offers special needs and medicare supplement, and prescription drug plans. The Commercial segment provides health insurance marketplace product for individual, small, and large group commercials. It also operates clinical healthcare and pharmacies, as well as offers dental and speech therapy services. In addition, the company engages in the government contracts business under the TRICARE program and other healthcare related government contracts. It provides services through primary and specialty care physicians, hospitals, and ancillary providers. Centene Corporation was founded in 1984 and is headquartered in Saint Louis, Missouri.
Contact Information
Centene Plaza, 7700 Forsyth Boulevard, Saint Louis, MO, 63105, United States
314-725-4477
www.centene.com
Market Cap
$19.91B
P/E (TTM)
-3.8
46.4
Dividend Yield
--
52W High
$66.81
52W Low
$25.08
52W Range
37%
Rank25Top 8.6%
6.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$49.69B+18.25%
4-Quarter Trend

EPS

-$13.50-1085.40%
4-Quarter Trend

FCF

$1.15B-201.24%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Total Revenue Growth Strong Total revenues reached $49.7 B for Q3 2025, marking 18% growth versus prior year period.
Operational Efficiency Improves Q3 SG&A expense ratio improved to 7.0% from 8.3% last year, showing better cost leverage.
Adjusted Earnings Solid Adjusted diluted EPS was $0.50 for the quarter, compared to $1.62 in the third quarter 2024.
Cash Position Strengthened Cash, cash equivalents, and restricted cash ended at $17.185 B, increasing from year-end 2024.

Risk Factors

Goodwill Impairment Recorded Recorded $6.7 B goodwill impairment charge in Q3 2025, driving significant GAAP net loss.
Medical Cost Trend Worsening Q3 HBR rose to 92.7% from 89.2% due to increased Marketplace costs and IRA PDP changes.
Medicaid Membership Declining Total at-risk membership fell 672 K members to 27.968 M due to state redeterminations.
Debt Leverage Increased Debt-to-capital ratio rose to 45.5% from 41.2% due to equity reduction from goodwill charge.

Outlook

Medicare Star Ratings Improving Approximately 60% of Medicare Advantage membership now enrolled in 3.5 star or higher plans.
Commercial Rate Adjustments Planned Refiled 2026 Marketplace rates in Q3 2025 to reflect higher projected morbidity baseline.
Sufficient Liquidity Expected Available cash and credit facilities expected to finance operations and CapEx for at least 12 months.
Navigating Regulatory Changes Future results expected to be impacted by OBBBA provisions affecting Medicaid eligibility and funding.

Peer Comparison

Revenue (TTM)

Centene CorporationCNC
$185.86B
+14.9%
Molina Healthcare, Inc.MOH
$44.55B
+13.7%
Fresenius Medical Care AGFMS
$21.68B
+2.1%

Gross Margin (Latest Quarter)

Incyte CorporationINCY
92.8%
+1.8pp
Universal Health Services, Inc.UHS
90.8%
+0.6pp
United Therapeutics CorporationUTHR
87.4%
-1.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WAT$22.98B35.431.3%30.6%
UTHR$22.66B17.518.8%0.0%
ILMN$20.62B29.930.0%41.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
6.8%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Feb 3, 2026
|
EPS:-$1.25
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 29, 2025|
    Revenue: $49.69B+18.2%
    |
    EPS: $-13.50-1085.4%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 25, 2025|
    Revenue: $48.74B+22.4%
    |
    EPS: $-0.51-123.6%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 25, 2025|
    Revenue: $46.62B+15.4%
    |
    EPS: $2.64+21.7%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 18, 2025|
    Revenue: $163.07B+5.9%
    |
    EPS: $6.33+27.4%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 25, 2024|
    Revenue: $42.02B+10.5%
    |
    EPS: $1.37+57.5%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 26, 2024|
    Revenue: $39.84B+5.9%
    |
    EPS: $2.16+11.9%
    Meet
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 26, 2024|
    Revenue: $40.41B+3.9%
    |
    EPS: $2.17+5.9%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 20, 2024|
    Revenue: $154.00B+6.5%
    |
    EPS: $4.97+137.8%
    Beat