Centene Corporation (CNC) financials
Centene revenue and earnings by year
Centene's revenue was $195 billion in the fiscal year to December 31, 2025, up 19.4% from the year before. Net income was -$6.67 billion, -3.4% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 19.0% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 194.8 | 163.1 | 154.0 | 144.5 | 126.0 | 111.1 | 74.6 | 60.1 | 48.4 | 40.6 |
| Revenue growth | 19.4% | 5.9% | 6.5% | 14.7% | 13.4% | 48.9% | 24.2% | 24.3% | 19.1% | — |
| Gross profit | 13.9 | 16.8 | 17.3 | 16.7 | 14.2 | 15.2 | 8.8 | 8.4 | 5.8 | 5.5 |
| Gross margin | 7.1% | 10.3% | 11.2% | 11.5% | 11.3% | 13.7% | 11.8% | 14.0% | 12.0% | 13.7% |
| Operating income | -7.6 | 3.2 | 2.9 | 1.3 | 1.8 | 3.1 | 1.8 | 1.5 | 1.2 | 1.3 |
| Operating margin | -3.9% | 1.9% | 1.9% | 0.9% | 1.4% | 2.8% | 2.4% | 2.4% | 2.5% | 3.1% |
| Net income | -6.7 | 3.3 | 2.7 | 1.2 | 1.3 | 1.8 | 1.3 | 0.9 | 0.8 | 0.6 |
| Net margin | -3.4% | 2.0% | 1.8% | 0.8% | 1.1% | 1.6% | 1.8% | 1.5% | 1.7% | 1.4% |
| Diluted EPS | -$13.53 | $6.31 | $4.95 | $2.07 | $2.28 | $3.12 | $3.14 | $2.33 | $2.34 | $1.58 |
| Free cash flow | 4.3 | -0.5 | 7.3 | 5.3 | 3.3 | 4.6 | 0.8 | 0.6 | 1.1 | 1.5 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open CNC in Markets.
How Centene makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Medicaid | $29.6B | 59.7% |
| Medicare | $11.3B | 22.7% |
| Commercial | $8.70B | 17.6% |
See also: CNC valuation and P/E history · CNC returns
No forecast, no recommendation. This page describes Centene Corporation from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.