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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
$17.00B
P/E (TTM)
-2.5
23.9
Dividend Yield
--
52W High
$66.03
52W Low
$25.08
52W Range
23%
Rank24Top 10.8%
5.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$49.73B+0.00%
4-Quarter Trend

EPS

-$2.24+0.00%
4-Quarter Trend

FCF

$224.00M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Total Revenue Growth Total revenues reached $194.8 B, a 19% increase, driven by PDP yield, Marketplace growth, and premium tax revenue.
Operating Cash Flow Surge Operating cash flows were $5.1 B, a massive increase from $154 M in 2024, reflecting improved rebate timing.
Medicare Segment Expansion Medicare revenues grew 62% to $37.210 B, primarily driven by increased PDP premium yield and IRA changes.
Improved Expense Ratios SG&A expense ratio improved to 7.4% for 2025, down from 8.5% in 2024, showing cost discipline.

Risk Factors

Massive Goodwill Impairment Recorded $7.311 B total impairment charges, including $6.7 B goodwill impairment due to OBBBA and stock price decline.
HBR Deterioration Health Benefits Ratio rose to 91.9% from 88.3%, driven by lower Marketplace risk adjustment revenue.
Medicaid Membership Decline Total membership fell 3% to 27.6 M, primarily due to ongoing Medicaid redeterminations following the PHE expiration.
Commercial Margin Pressure Commercial segment gross margin dropped 33% due to lower estimated risk adjustment revenue and increased medical costs.

Outlook

Divestiture Completion Signed agreement to divest remaining Magellan Health businesses in December 2025, streamlining portfolio focus on core managed care.
2026 Rate Adjustments Completed refiling 2026 Marketplace rates to reflect higher projected morbidity baseline and corrective pricing actions.
Future Capital Flow Expecting net dividends of approximately $1.2 B from regulated subsidiaries during 2026 to fund capital expenditures.
D-SNP Integration Focus Continuing enterprise focus on D-SNP opportunity ahead of 2030 mandate for integrated dual-eligible care alignment.

Peer Comparison

Revenue (TTM)

CNC stock ticker logoCNC
$194.78B
+19.4%
MOH stock ticker logoMOH
$45.43B
+11.7%
FMS stock ticker logoFMS
$22.15B
+1.5%

Gross Margin (Latest Quarter)

RPRX stock ticker logoRPRX
100.0%
+0.0pp
GMAB stock ticker logoGMAB
92.3%
-0.7pp
INCY stock ticker logoINCY
90.9%
+1.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
UTHR$23.35B17.719.3%0.0%
THC$19.75B14.034.8%44.4%
RPRX$19.65B25.711.9%45.6%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.2%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:Apr 23, 2026
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LTM
No Data