CNC Centene Corporation Common Stock

NYSE · Health Care

$54.14

Price · Apr 29, 2026

Fundamentals as of Feb 17, 2026

CNC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price

$54.14

Market Cap

$20.24B

P/E (TTM)

-3.0

EPS (TTM)

$-13.53

Revenue (TTM)

$194.78B

Div Yield

—

ROE

-28.8%

Debt/Equity

0.9

52W Range

$25 – $64

CNC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $194.78B

2016-12-31 → 2025-12-31

EPS $-13.53

2016-12-31 → 2025-12-31

Free Cash Flow $4.32B

2016-12-31 → 2025-12-31

Margins -3.4%

2023-12-31 → 2025-12-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric

5Y trend

CNC

Peer Median

P/E (TTM)

-3.0

21.2

P/S (TTM)

0.1

0.6

P/B

1.0

3.0

EV / EBITDA

-2.3

—

Price / FCF

4.7

—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric

5Y trend

CNC

Peer Median

Gross Margin

7.3%

13.1%

Operating Margin

-3.9%

—

Net Profit Margin

-3.4%

1.0%

ROA

-8.4%

3.0%

ROE

-28.8%

9.0%

ROIC

-20.2%

—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

CNC

Peer Median

Debt / Equity

0.9

23.0

Current Ratio

1.1

1.6

Quick Ratio

0.6

—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric

5Y trend

CNC

Peer Median

Revenue YoY

19.4%

—

Revenue CAGR 3Y

10.4%

—

Revenue CAGR 5Y

11.9%

—

EPS YoY

27.5%

—

Net Income YoY

22.3%

—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric

5Y trend

CNC

Peer Median

EPS (Diluted)

$-13.53

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

CNC

Peer Median

CNC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

HOLD 26 analysts

Strong Buy 3 11.5%
Buy 5 19.2%
Hold 16 61.5%
Sell 2 7.7%
Strong Sell 0 0.0%

12-Month Price Target

17 analysts · 2026-04-26

Median $41.00

Now $54.14

Low $32.00

High $70.00

Median target $41.00 -24.3%

Mean target $43.47 -19.7%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise

-0.00%

Period	EPS Actual	EPS Est	Surprise
Dec. 31, 2025	$-1.19	$-1.24	0.05%
Sept. 30, 2025	$0.50	$-0.14	0.64%
June 30, 2025	$-0.16	$0.87	-1.0%
March 31, 2025	$2.90	$2.57	0.33%

Peer Comparison Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
CNC	$20.24B	-3.0	19.4%	-3.4%	-28.8%	7.3%
UNH	$299.08B	25.0	11.8%	2.7%	12.0%	—
ELV	$77.37B	13.9	12.5%	2.8%	13.3%	—
HUM	$50.90B	26.0	10.1%	0.92%	7.0%	—
MOH	$8.85B	19.5	11.8%	1.0%	10.9%	—
HQY	$7.12B	34.0	9.5%	16.4%	10.1%	69.5%
ALHC	$4.03B	—	46.1%	-0.02%	-0.52%	—
PGNY	$2.14B	39.5	10.4%	4.5%	11.3%	23.6%
CLOV	—	-5.1	40.3%	-4.5%	-26.2%	—

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 16

Annual Income Statement data for CNC
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$194.78B	$163.07B	$154.00B	$144.55B	$125.98B	$111.11B	$74.64B	$60.12B	$48.38B	$40.61B	$22.76B	$16.56B
Cost of Revenue	$2.67B	$2.73B	$3.56B	$7.03B	$4.89B	$3.30B	$2.46B	$2.39B	$1.85B	$1.86B	$1.62B	$1.28B
Gross Profit	$14.21B	$17.07B	$17.64B	$16.92B	$14.49B	·	·	·	·	·	·	·
SG&A Expense	$12.90B	$12.40B	$12.56B	$11.59B	$9.60B	$9.38B	$6.53B	$6.04B	$4.45B	$3.67B	$1.80B	$1.30B
Operating Expenses	$202.40B	$159.90B	$151.07B	$143.23B	$124.20B	$108.03B	$72.86B	$58.66B	$47.18B	$39.34B	$22.05B	$16.10B
Operating Income	$-7.62B	$3.17B	$2.93B	$1.32B	$1.78B	$3.08B	$1.78B	$1.46B	$1.20B	$1.26B	$705M	$464M
Interest Expense	·	·	$725M	$665M	$665M	$728M	$412M	$343M	$255M	$217M	$43M	$35M
Other Non-op	$895M	$1.08B	$668M	$644M	·	·	·	·	·	·	·	·
Pretax Income	$-6.73B	$4.26B	$3.60B	$1.96B	$1.81B	$2.77B	$1.78B	$1.37B	$1.13B	$1.16B	$697M	$457M
Income Tax	$-51M	$963M	$899M	$760M	$477M	$979M	$473M	$474M	$326M	$599M	$339M	$196M
Net Income	$-6.67B	$3.31B	$2.70B	$1.20B	$1.35B	$1.81B	$1.32B	$900M	$828M	$562M	$355M	$271M
EPS (Basic)	$-13.53	$6.33	$4.97	$2.09	$2.31	$3.17	$3.19	$2.31	$2.40	$1.76	$2.98	$2.33
EPS (Diluted)	$-13.53	$6.31	$4.95	$2.07	$2.28	$3.12	$3.14	$2.26	$2.34	$1.71	$2.88	$2.25
Shares (Basic)	493,116,000	521,790,000	543,319,000	575,191,000	582,832,000	570,722,000	413,487,000	390,248,000	344,853,000	319,135,000	119,101,000	116,345,764
Shares (Diluted)	493,116,000	523,744,000	545,704,000	582,040,000	590,516,000	579,135,000	420,409,000	398,506,000	353,404,000	327,951,000	123,066,000	120,360,212
EBITDA	$-7.62B	$3.17B	$2.93B	$1.32B	$1.78B	$3.08B	$1.78B	$1.46B	$1.20B	$1.26B	$705M	$464M

Balance Sheet 26

Annual Balance Sheet data for CNC
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Equivalents	$17.89B	$14.06B	$17.19B	$12.07B	$13.12B	$10.80B	$12.12B	$5.34B	$4.07B	$3.93B	$1.76B	$1.61B
Short-term Investments	$2.43B	$2.62B	$2.46B	$2.32B	$1.54B	$1.58B	$863M	$722M	$531M	$505M	$176M	$177M
Other Current Assets	$1.95B	$1.60B	$5.57B	$2.46B	$1.60B	$1.32B	$1.09B	$784M	$687M	$715M	$390M	$252M
Current Assets	$40.37B	$38.00B	$40.76B	$30.13B	$28.50B	$23.39B	$20.32B	$12.00B	$8.70B	$8.37B	$3.60B	$2.95B
PP&E (Net)	$2.04B	$2.07B	$2.02B	$2.43B	$3.39B	$2.77B	$2.12B	$1.71B	$1.10B	$797M	$518M	$445M
PP&E (Gross)	$4.27B	$4.87B	$4.42B	$4.50B	$5.29B	$4.25B	$3.22B	$2.51B	$1.69B	$1.24B	$869M	$733M
Accum. Depreciation	$2.23B	$2.80B	$2.40B	$2.07B	$1.90B	$1.48B	$1.10B	$800M	$590M	$442M	$351M	$288M
Goodwill	$10.84B	$17.56B	$17.56B	$18.81B	$19.77B	$18.65B	$6.86B	$7.01B	$4.75B	$4.71B	$842M	$754M
Intangibles	$4.53B	$5.41B	$6.10B	$6.91B	$7.82B	$8.39B	$2.06B	$2.24B	$1.40B	$1.54B	$155M	$120M
Other Non-current Assets	$528M	$593M	$535M	$2.69B	$3.78B	$1.60B	$1.25B	$527M	$454M	$95M	$177M	$174M
Total Assets	$76.75B	$82.44B	$84.64B	$76.87B	$78.38B	$68.72B	$40.99B	$30.90B	$21.86B	$20.20B	$7.34B	$5.82B
Accounts Payable	$13.77B	$13.17B	$16.42B	$9.53B	$8.49B	$7.07B	$4.16B	$4.05B	$4.17B	$3.76B	$976M	$768M
Current Liabilities	$36.70B	$34.26B	$36.72B	$28.46B	$25.77B	$21.59B	$12.93B	$11.97B	$9.33B	$8.62B	$3.63B	$2.90B
Capital Leases	$615M	$738M	$880M	$3.13B	$3.62B	$1.33B	$622M	·	·	·	·	·
Deferred Tax	$833M	$684M	$641M	$615M	$1.41B	$1.53B	$189M	·	·	·	·	·
Other Non-current Liabilities	$1.81B	$2.57B	$3.62B	$5.62B	$5.61B	$2.96B	$1.54B	$1.26B	$952M	$869M	$170M	$159M
Total Liabilities	$56.69B	$55.94B	$58.69B	$52.63B	$51.35B	$42.76B	$28.30B	$19.88B	$14.98B	$14.14B	$5.01B	$3.93B
Long-term Debt	$17.49B	$18.64B	$17.96B	$18.18B	$19.03B	$16.88B	$13.86B	$6.85B	$4.83B	$4.78B	$1.22B	$878M
Total Debt	$17.40B	$18.53B	$17.83B	$18.02B	$18.84B	$16.78B	$13.73B	$6.69B	$4.70B	$4.66B	$1.22B	$893M
Common Stock	$1M	$1M	$1M	$1M	$1M	$1M	$0	$0	$0	$0	$0	$0
Retained Earnings	$8.67B	$15.35B	$12.04B	$9.34B	$8.14B	$6.79B	$4.98B	$3.66B	$2.75B	$1.92B	$1.36B	$1.00B
Treasury Stock	$9.44B	$9.00B	$5.86B	$4.21B	$1.09B	$816M	$214M	$139M	$244M	$179M	$147M	$98M
AOCI	$-58M	$-504M	$-652M	$-1.13B	$77M	$337M	$134M	$-56M	$-3M	$-36M	$-10M	$-1M
Stockholders' Equity	$19.95B	$26.41B	$25.84B	$24.06B	$26.80B	$25.77B	$12.55B	$10.92B	$6.85B	$5.89B	$2.16B	$1.74B
Liabilities + Equity	$76.75B	$82.44B	$84.64B	$76.87B	$78.38B	$68.72B	$40.99B	$30.90B	$21.86B	$20.20B	$7.34B	$5.82B
Shares Outstanding	491,757,000	495,907,000	615,291,000	607,847,000	602,704,000	598,249,000	421,508,000	417,695,000	360,758,000	356,268,000	253,710,000	124,275,000

Cash Flow 17

Annual Cash Flow data for CNC
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
D&A	$1.27B	$1.24B	$1.29B	$1.43B	$1.33B	$1.26B	$643M	$495M	$361M	$278M	$111M	$89M
Stock-based Comp	$204M	$212M	$216M	$234M	$203M	$281M	$177M	$145M	$135M	$148M	$71M	$48M
Deferred Tax	$-60M	$13M	$-78M	$-631M	$-132M	$-51M	$55M	$-129M	$-108M	$92M	$-17M	$-42M
Amort. of Intangibles	$685M	$692M	$718M	$817M	$770M	$719M	$258M	$211M	$156M	$147M	$24M	$16M
Operating Cash Flow	$5.09B	$154M	$8.05B	$6.26B	$4.21B	$5.50B	$1.48B	$1.23B	$1.49B	$1.85B	$658M	$1.22B
CapEx	$767M	$644M	$799M	$1.00B	$910M	$869M	$730M	$675M	$422M	$306M	$150M	$103M
Investing Cash Flow	$472M	$-1.05B	$-1.19B	$-2.92B	$-3.30B	$-6.96B	$-1.53B	$-4.58B	$-1.25B	$-2.47B	$-813M	$-848M
Debt Issued	$750M	$1.30B	$2.33B	$360M	$9.27B	$5.11B	$24.72B	$6.08B	$1.40B	$8.95B	$1.93B	$1.88B
Net Debt Issued	$-1.15B	$678M	$19M	$-1.13B	$1.83B	$1.04B	$6.92B	$1.99B	$47M	$2.87B	$342M	$201M
Stock Issued	$37M	$46M	$44M	$70M	$35M	$28M	$0	$2.78B	$0	$0	·	·
Stock Repurchased	$475M	$3.12B	$1.63B	$3.10B	$297M	$626M	$75M	$71M	$65M	$63M	$53M	$29M
Net Stock Activity	$-438M	$-3.08B	$-1.59B	$-3.03B	$-297M	$-626M	$-75M	$2.71B	$-65M	$-63M	$-53M	$-29M
Financing Cash Flow	$-1.62B	$-2.41B	$-1.66B	$-4.20B	$1.36B	$260M	$6.83B	$4.61B	$-82M	$2.72B	$305M	$198M
Net Change in Cash	$3.94B	$-3.30B	$5.17B	$-868M	$2.26B	$-1.17B	$6.78B	$1.26B	$153M	$2.10B	$150M	$572M
Taxes Paid	$448M	$1.00B	$887M	$1.20B	$678M	$1.19B	$612M	$448M	$496M	$556M	$328M	$237M
Free Cash Flow	$4.32B	$-490M	$7.25B	$5.26B	$3.29B	$4.63B	$753M	$559M	$1.07B	$1.54B	$508M	$1.12B
Levered FCF	·	·	$6.71B	$4.85B	$2.80B	$4.16B	$450M	$335M	$885M	$1.44B	$486M	$1.10B

Profitability 8

Annual Profitability data for CNC
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Gross Margin	7.3%	10.5%	11.5%	·	·	·	·	·	·	·	·	·
Operating Margin	-3.9%	1.9%	1.9%	0.91%	1.4%	2.8%	2.4%	2.4%	2.5%	3.1%	3.1%	2.8%
Net Margin	-3.4%	2.0%	1.8%	0.83%	1.1%	1.6%	1.8%	1.5%	1.7%	1.4%	1.6%	1.6%
Pretax Margin	-3.5%	2.6%	2.3%	1.4%	1.4%	2.5%	2.4%	2.3%	2.3%	2.9%	3.1%	2.8%
EBITDA Margin	-3.9%	1.9%	1.9%	0.91%	1.4%	2.8%	2.4%	2.4%	2.5%	3.1%	3.1%	2.8%
ROA	-8.4%	4.0%	3.4%	1.6%	1.8%	3.3%	3.7%	3.4%	3.9%	4.1%	5.4%	5.8%
ROE	-28.8%	12.7%	10.8%	4.7%	5.1%	9.4%	11.3%	10.1%	13.0%	14.0%	18.2%	18.2%
ROIC	-20.2%	5.5%	5.0%	1.9%	2.9%	4.7%	5.0%	5.4%	7.4%	5.8%	10.7%	10.1%

Liquidity & Solvency 5

Annual Liquidity & Solvency data for CNC
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Current Ratio	1.1	1.1	1.1	1.1	1.1	1.1	1.6	1.0	0.9	1.0	1.0	1.0
Quick Ratio	0.6	0.5	0.5	0.5	0.6	0.6	1.0	0.5	0.5	0.5	0.5	0.6
Debt / Equity	0.9	0.7	0.7	0.7	0.7	0.7	1.1	0.6	0.7	0.8	0.6	0.5
LT Debt / Equity	0.9	0.7	0.7	0.7	0.7	0.6	1.1	0.6	0.7	0.8	0.6	0.5
Interest Coverage	·	·	4.0	2.0	2.7	4.2	4.3	4.3	4.7	5.8	16.4	13.3

Efficiency 1

Annual Efficiency data for CNC
Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Asset Turnover		2.4	2.0	1.9	1.9	1.7	2.0	2.1	2.3	2.3	2.9	3.5	3.5

Per Share 5

Annual Per Share data for CNC
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Book Value / Share	$40.57	$53.26	$48.35	$43.68	$46.00	$44.32	$30.24	$26.47	$39.50	$34.29	$17.92	$14.73
Revenue / Share	$394.99	$311.36	$282.20	$248.35	$213.34	$191.86	$177.54	$150.85	$273.81	$247.64	$184.94	$137.59
Cash Flow / Share	$10.32	$0.29	$14.76	$10.76	$7.12	$9.50	$3.53	$3.10	$8.43	$11.29	$5.35	$10.16
Cash / Share	$36.38	$28.36	$32.17	$21.92	$22.52	$18.57	$29.21	$12.95	$23.48	$22.86	$14.62	$13.05
EPS (TTM)	$-13.53	$6.31	$4.95	$2.07	$2.28	$3.12	$3.14	$2.26	$2.34	$1.71	$2.88	$2.25

Growth Rates 7

Annual Growth Rates data for CNC
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue YoY	19.4%	5.9%	6.5%	14.7%	13.4%	·	·	·	·	·	·	·
Revenue CAGR 3Y	10.4%	9.0%	11.5%	·	·	·	·	·	·	·	·	·
Revenue CAGR 5Y	11.9%	·	·	·	·	·	·	·	·	·	·	·
EPS YoY	·	27.5%	139.1%	-9.2%	-26.9%	·	·	·	·	·	·	·
EPS CAGR 3Y	·	40.4%	16.6%	·	·	·	·	·	·	·	·	·
Net Income YoY	·	22.3%	124.8%	-10.8%	-25.5%	·	·	·	·	·	·	·
Net Income CAGR 3Y	·	34.9%	14.3%	·	·	·	·	·	·	·	·	·

Valuation (TTM) 14

Annual Valuation (TTM) data for CNC
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue TTM	$194.78B	$163.07B	$154.00B	$144.55B	$125.98B	$111.11B	$74.64B	$60.12B	$48.38B	$40.61B	$22.76B	$16.56B
Net Income TTM	$-6.67B	$3.31B	$2.70B	$1.20B	$1.35B	$1.81B	$1.32B	$900M	$828M	$562M	$355M	$271M
Market Cap	$20.24B	$30.04B	$39.66B	$45.17B	$48.00B	$34.91B	$26.09B	$23.78B	$8.75B	$4.86B	$3.96B	$3.07B
Enterprise Value	$17.32B	$31.89B	$37.84B	$48.79B	$52.18B	$39.31B	$26.83B	$24.40B	$8.84B	$5.08B	$3.24B	$2.24B
P/E	-3.0	9.6	15.0	39.6	36.1	19.2	20.0	25.5	21.6	16.5	11.4	11.5
P/S	0.1	0.2	0.3	0.3	0.4	0.3	0.3	0.4	0.2	0.1	0.2	0.2
P/B	1.0	1.1	1.5	1.9	1.8	1.4	2.1	2.2	1.3	0.8	1.8	1.8
P / Tangible Book	4.4	8.7	18.2	·	·	·	·	·	·	·	·	·
P / Cash Flow	4.0	195.1	4.9	7.2	11.4	6.3	17.6	19.3	5.9	2.6	6.0	2.5
P / FCF	4.7	-61.3	5.5	8.6	14.6	7.5	34.7	42.5	8.2	3.1	7.8	2.7
EV / EBITDA	-2.3	10.0	12.9	37.0	29.2	12.8	15.1	16.7	7.4	4.0	4.6	4.8
EV / FCF	4.0	-65.1	5.2	9.3	15.8	8.5	35.6	43.7	8.3	3.3	6.4	2.0
EV / Revenue	0.1	0.2	0.2	0.3	0.4	0.4	0.4	0.4	0.2	0.1	0.1	0.1
Earnings Yield	-32.9%	10.4%	6.7%	2.5%	2.8%	5.2%	5.0%	3.9%	4.6%	6.0%	8.8%	8.7%

Income Statement 16

Quarterly Income Statement data for CNC
Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Revenue	$49.73B	$49.69B	$48.74B	$46.62B	$40.80B	$42.02B	$39.84B	$40.41B	$39.46B	$38.04B	$37.61B	$38.89B	$35.56B	$35.87B	$35.94B	$37.19B
Cost of Revenue	$680M	$651M	$641M	$698M	$688M	$692M	$680M	$669M	$961M	$856M	$877M	$870M	$1.37B	$1.57B	$2.10B	$1.99B
Gross Profit	$2.56B	$3.35B	$3.02B	$5.29B	$3.80B	$4.01B	$4.53B	$4.74B	$3.74B	$4.63B	$4.61B	$4.65B	$3.91B	$4.04B	$4.56B	$4.41B
SG&A Expense	$3.37B	$3.15B	$3.04B	$3.35B	$3.23B	$3.06B	$2.89B	$3.22B	$3.49B	$3.05B	$3.02B	$3.01B	$3.20B	$2.85B	$2.80B	$2.75B
Operating Expenses	$51.47B	$56.64B	$49.20B	$45.09B	$40.63B	$41.36B	$38.61B	$39.30B	$39.65B	$37.31B	$36.44B	$37.67B	$35.84B	$35.39B	$36.06B	$35.93B
Operating Income	$-1.75B	$-6.95B	$-458M	$1.53B	$175M	$665M	$1.23B	$1.11B	$-194M	$735M	$1.17B	$1.22B	$-282M	$476M	$-129M	$1.25B
Interest Expense	·	·	·	·	·	·	·	$178M	·	$181M	$181M	$180M	·	$169M	$162M	$160M
Other Non-op	$202M	$280M	$201M	$212M	$172M	$256M	$287M	$367M	·	·	·	·	·	·	·	·
Pretax Income	$-1.54B	$-6.67B	$-257M	$1.75B	$347M	$921M	$1.52B	$1.47B	$24M	$768M	$1.42B	$1.39B	$41M	$1.01B	$-236M	$1.15B
Income Tax	$-443M	$-42M	$2M	$432M	$67M	$211M	$370M	$315M	$-15M	$293M	$360M	$261M	$260M	$269M	$-65M	$296M
Net Income	$-1.10B	$-6.63B	$-253M	$1.31B	$283M	$713M	$1.15B	$1.16B	$45M	$469M	$1.06B	$1.13B	$-213M	$738M	$-172M	$849M
EPS (Basic)	$-2.16	$-13.50	$-0.51	$2.64	$0.63	$1.37	$2.16	$2.17	$0.12	$0.87	$1.93	$2.05	$-0.37	$1.29	$-0.29	$1.46
EPS (Diluted)	$-2.15	$-13.50	$-0.51	$2.63	$0.63	$1.36	$2.16	$2.16	$0.12	$0.87	$1.92	$2.04	$-0.35	$1.27	$-0.29	$1.44
Shares (Basic)	-987,787,000	491,141,000	493,548,000	496,214,000	-1,064,886,000	521,965,000	529,602,000	535,109,000	-1,095,927,000	539,535,000	548,932,000	550,779,000	-1,165,644,000	573,961,000	583,644,000	583,230,000
Shares (Diluted)	-989,753,000	491,141,000	493,548,000	498,180,000	-1,068,613,000	523,542,000	530,755,000	538,060,000	-1,099,719,000	541,270,000	550,308,000	553,845,000	-1,172,869,000	580,607,000	583,644,000	590,658,000
EBITDA	·	$-6.95B	$-458M	$1.53B	·	$665M	$1.23B	$1.11B	·	$735M	$1.17B	$1.22B	·	$476M	$-129M	$1.25B

Balance Sheet 26

Quarterly Balance Sheet data for CNC
Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Cash & Equivalents	$17.89B	$17.06B	$14.51B	$14.81B	$14.06B	$14.58B	$17.61B	$17.59B	$17.19B	$18.19B	$17.17B	$15.85B	$12.07B	$14.99B	$13.44B	$11.24B
Short-term Investments	$2.43B	$2.18B	$2.77B	$2.47B	$2.62B	$2.99B	$2.61B	$2.08B	·	$2.24B	$2.21B	$2.13B	·	$2.19B	$1.79B	$1.67B
Other Current Assets	$1.95B	$1.72B	$1.56B	$1.56B	$1.60B	$1.56B	$1.60B	$1.96B	·	$5.47B	$1.88B	$1.81B	·	$2.33B	$3.02B	$2.04B
Current Assets	$40.37B	$44.06B	$40.39B	$41.29B	$38.00B	$37.41B	$38.41B	$38.45B	·	$41.41B	$34.87B	$35.01B	·	$33.27B	$32.41B	$31.11B
PP&E (Net)	$2.04B	$2.16B	$2.12B	$2.04B	$2.07B	$2.04B	$2.04B	$1.99B	·	$2.00B	$2.42B	$2.48B	·	$2.48B	$2.56B	$3.58B
PP&E (Gross)	$4.27B	·	·	·	$4.87B	·	·	·	·	·	·	·	·	$4.54B	$4.61B	·
Accum. Depreciation	$2.23B	·	·	·	$2.80B	·	·	·	·	·	·	·	·	$2.06B	$2.05B	·
Goodwill	$10.84B	$10.84B	$17.56B	$17.56B	$17.56B	$17.56B	$17.56B	$17.56B	$17.56B	$17.56B	$18.72B	$18.84B	$18.81B	$20.04B	$20.31B	$20.90B
Intangibles	$4.53B	$4.84B	$5.01B	$5.24B	$5.41B	$5.58B	$5.75B	$5.93B	·	$6.28B	$6.52B	$6.73B	·	$7.52B	$7.67B	$8.14B
Other Non-current Assets	$528M	$593M	$1.11B	$1.24B	$593M	$617M	$1.09B	$823M	·	$560M	$2.87B	$2.78B	·	$2.60B	$3.22B	$3.83B
Total Assets	$76.75B	$82.09B	$86.39B	$87.04B	$82.44B	$82.35B	$83.14B	$82.62B	·	$84.38B	$82.85B	$82.98B	·	$81.17B	$81.06B	$82.90B
Accounts Payable	$13.77B	$16.88B	$13.52B	$13.95B	$13.17B	$13.34B	$12.23B	$12.13B	·	$15.08B	$9.87B	$10.78B	·	$9.99B	$9.30B	$9.98B
Current Liabilities	$36.70B	$40.63B	$36.79B	$37.14B	$34.26B	$34.06B	$32.73B	$32.78B	·	$36.85B	$31.31B	$32.86B	·	$31.33B	$29.09B	$29.68B
Capital Leases	$615M	·	·	·	$738M	·	·	·	·	$936M	$3.17B	$3.14B	·	$3.04B	$3.27B	$3.53B
Deferred Tax	$833M	$810M	$651M	$708M	$684M	$769M	$665M	$734M	·	$577M	$495M	$522M	·	$480M	$746M	$1.29B
Other Non-current Liabilities	$1.81B	$2.05B	$3.90B	$2.87B	$2.57B	$2.62B	$4.77B	$4.16B	·	$3.65B	$7.37B	$6.19B	·	$5.68B	$6.21B	$5.85B
Total Liabilities	$56.69B	$61.03B	$58.89B	$59.02B	$55.94B	$54.94B	$55.68B	$55.56B	·	$58.97B	$57.07B	$57.80B	·	$55.57B	$54.50B	$55.47B
Long-term Debt	$17.49B	$17.58B	$17.58B	$18.32B	$18.53B	$17.61B	$17.63B	$18.00B	·	$18.00B	$18.01B	$18.32B	·	$18.33B	$18.76B	$18.93B
Total Debt	·	$17.58B	$17.58B	$18.32B	·	$17.61B	$17.63B	$18.00B	·	$18.00B	$18.01B	$18.32B	·	$18.33B	$18.76B	$18.93B
Common Stock	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M	·	$1M	$1M	$1M	·	$1M	$1M	$1M
Retained Earnings	$8.67B	$9.78B	$16.41B	$16.66B	$15.35B	$15.06B	$14.35B	$13.21B	·	$12.00B	$11.53B	$10.47B	·	$9.55B	$8.82B	$8.99B
Treasury Stock	$9.44B	$9.44B	$9.44B	$9.04B	$9.00B	$8.05B	$6.82B	$6.01B	·	$5.83B	$5.04B	$4.64B	·	$2.56B	$1.51B	$1.17B
AOCI	$-58M	$-100M	$-231M	$-337M	$-504M	$-226M	$-646M	$-630M	·	$-1.12B	$-998M	$-915M	·	$-1.39B	$-913M	$-485M
Stockholders' Equity	$19.95B	$20.95B	$27.41B	$27.92B	$26.41B	$27.31B	$27.35B	$26.96B	·	$25.30B	$25.67B	$25.04B	·	$25.38B	$26.29B	$27.17B
Liabilities + Equity	$76.75B	$82.09B	$86.39B	$87.04B	$82.44B	$82.35B	$83.14B	$82.62B	·	$84.38B	$82.85B	$82.98B	·	$81.17B	$81.06B	$82.90B
Shares Outstanding	491,757,000	491,414,000	491,128,000	497,518,000	495,907,000	510,078,000	526,001,000	536,383,000	615,291,000	534,596,000	546,003,000	551,714,000	607,847,000	570,091,000	581,124,000	584,854,000

Cash Flow 17

Quarterly Cash Flow data for CNC
Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
D&A	$329M	$317M	$315M	$314M	$314M	$313M	$306M	$308M	$315M	$328M	$304M	$325M	$351M	$292M	$328M	$390M
Stock-based Comp	$58M	$52M	$35M	$59M	$31M	$49M	$62M	$70M	$49M	$50M	$56M	$61M	$54M	$51M	$59M	$70M
Deferred Tax	$-73M	$129M	$-89M	$-27M	$-1M	$-26M	$-64M	$104M	$-92M	$174M	$-1M	$-159M	$51M	$-265M	$-429M	$12M
Amort. of Intangibles	$169M	$170M	$173M	$173M	$173M	$173M	$173M	$173M	$176M	$180M	$179M	$183M	$208M	$211M	$199M	$199M
Operating Cash Flow	$437M	$1.36B	$1.78B	$1.51B	$-587M	$-978M	$2.17B	$-456M	$217M	$1.02B	$2.55B	$4.27B	$-1.58B	$3.33B	$3.35B	$1.15B
CapEx	$213M	$211M	$208M	$135M	$154M	$153M	$186M	$151M	$223M	$136M	$215M	$225M	$233M	$247M	$282M	$242M
Investing Cash Flow	$660M	$1.24B	$-899M	$-529M	$102M	$-839M	$-1.17B	$852M	$-949M	$435M	$-424M	$-253M	$221M	$3M	$-744M	$-2.40B
Debt Issued	$0	$0	$0	$750M	$950M	$0	$0	$350M	$165M	$889M	$994M	$287M	$3M	$26M	$231M	$100M
Net Debt Issued	·	·	·	$-208M	·	·	·	$163M	·	·	·	$287M	·	·	·	$-426M
Stock Issued	$8M	$11M	$8M	$10M	$9M	$12M	$11M	$14M	$12M	$11M	$21M	$12M	$8M	$24M	$11M	$27M
Stock Repurchased	$2M	$0	$432M	$41M	$943M	$1.23B	$803M	$151M	$31M	$774M	$405M	$423M	$1.43B	$1.24B	$349M	$71M
Net Stock Activity	·	·	·	$-31M	·	·	·	$-137M	·	·	·	$-423M	·	·	·	$-71M
Financing Cash Flow	$-187M	$-10M	$-1.17B	$-250M	$-13M	$-1.25B	$-1.17B	$23M	$-201M	$-524M	$-750M	$-183M	$-1.73B	$-1.48B	$-486M	$-498M
Net Change in Cash	$910M	$2.59B	$-288M	$731M	$-497M	$-3.06B	$-162M	$425M	$-984M	$958M	$1.36B	$3.83B	$-3.06B	$1.83B	$2.08B	$-1.72B
Taxes Paid	$-92M	$36M	$497M	$7M	$181M	$211M	$538M	$13M	$128M	$167M	$581M	$11M	$750M	$37M	$400M	$11M
Free Cash Flow	·	·	·	$1.38B	·	·	·	$-607M	·	·	·	$4.04B	·	·	·	$909M
Levered FCF	·	·	·	·	·	·	·	$-747M	·	·	·	$3.90B	·	·	·	$790M

Profitability 8

Quarterly Profitability data for CNC
Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Gross Margin	·	6.7%	6.2%	11.3%	·	9.5%	11.4%	11.7%	·	12.2%	12.3%	11.9%	·	·	·	·
Operating Margin	·	-14.0%	-0.94%	3.3%	·	1.6%	3.1%	2.7%	·	1.9%	3.1%	3.1%	·	1.3%	-0.36%	3.4%
Net Margin	·	-13.3%	-0.52%	2.8%	·	1.7%	2.9%	2.9%	·	1.2%	2.8%	2.9%	·	2.1%	-0.48%	2.3%
Pretax Margin	·	-13.4%	-0.53%	3.8%	·	2.2%	3.8%	3.6%	·	2.0%	3.8%	3.6%	·	2.8%	-0.66%	3.1%
EBITDA Margin	·	-14.0%	-0.94%	3.3%	·	1.6%	3.1%	2.7%	·	1.9%	3.1%	3.1%	·	1.3%	-0.36%	3.4%
ROA	·	-8.1%	-0.30%	1.6%	·	0.86%	1.4%	1.4%	·	0.57%	1.3%	1.4%	·	0.93%	-0.23%	1.1%
ROE	·	-27.5%	-0.92%	4.8%	·	2.7%	4.3%	4.5%	·	1.8%	4.1%	4.3%	·	2.9%	-0.66%	3.2%
ROIC	·	-17.9%	-1.0%	2.5%	·	1.1%	2.1%	1.9%	·	1.1%	2.0%	2.3%	·	0.80%	-0.21%	2.0%

Liquidity & Solvency 5

Quarterly Liquidity & Solvency data for CNC
Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Current Ratio	·	1.1	1.1	1.1	·	1.1	1.2	1.2	·	1.1	1.1	1.1	·	1.1	1.1	1.0
Quick Ratio	·	0.5	0.5	0.5	·	0.5	0.6	0.6	·	0.6	0.6	0.5	·	0.5	0.5	0.4
Debt / Equity	·	0.8	0.6	0.7	·	0.6	0.6	0.7	·	0.7	0.7	0.7	·	0.7	0.7	0.7
LT Debt / Equity	·	0.8	0.6	0.7	·	0.6	0.6	0.7	·	0.7	0.7	0.7	·	0.7	0.7	0.7
Interest Coverage	·	·	·	·	·	·	·	6.2	·	4.1	6.5	6.8	·	2.8	-0.8	7.8

Efficiency 1

Quarterly Efficiency data for CNC
Metric	Trend	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Asset Turnover		·	0.6	0.6	0.5	·	0.5	0.5	0.5	·	0.5	0.5	0.5	·	0.5	0.5	0.5

Per Share 5

Quarterly Per Share data for CNC
Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Book Value / Share	·	$42.63	$55.80	$56.11	·	$53.53	$52.00	$50.26	·	$47.32	$47.02	$45.39	·	$44.52	$45.24	$46.45
Revenue / Share	·	$101.17	$98.76	$93.58	·	$80.27	$75.06	$75.10	·	$70.28	$68.34	$70.22	·	$61.77	$61.57	$62.96
Cash Flow / Share	·	·	·	$3.03	·	·	·	$-0.85	·	·	·	$7.71	·	·	·	$1.95
Cash / Share	·	$34.71	$29.55	$29.78	·	$28.58	$33.47	$32.78	·	$34.03	$31.45	$28.73	·	$26.29	$23.12	$19.21
EPS (TTM)	·	$-10.02	$5.64	$8.31	·	$6.55	$7.11	$6.99	·	$6.10	$4.94	$4.46	·	$3.41	$1.22	$2.70

Valuation (TTM) 14

Quarterly Valuation (TTM) data for CNC
Metric	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022
Revenue TTM	·	$187.07B	$177.22B	$168.89B	·	$160.31B	$155.89B	$154.95B	·	$150.40B	$148.30B	$147.88B	·	$141.39B	$136.55B	$130.60B
Net Income TTM	·	$-4.86B	$2.92B	$4.33B	·	$3.49B	$3.84B	$3.82B	·	$3.40B	$2.75B	$2.54B	·	$2.00B	$726M	$1.60B
Market Cap	·	$17.53B	$26.66B	$30.20B	·	$38.40B	$34.87B	$42.10B	·	$36.82B	$36.83B	$34.87B	·	$44.36B	$49.17B	$49.24B
Enterprise Value	·	$15.88B	$26.95B	$31.24B	·	$38.43B	$32.29B	$40.43B	·	$34.39B	$35.45B	$35.21B	·	$45.51B	$52.70B	$55.27B
P/E	·	-3.6	9.6	7.3	·	11.5	9.3	11.2	·	11.3	13.7	14.2	·	22.8	69.4	31.2
P/S	·	0.1	0.2	0.2	·	0.2	0.2	0.3	·	0.2	0.2	0.2	·	0.3	0.4	0.4
P/B	·	0.8	1.0	1.1	·	1.4	1.3	1.6	·	1.5	1.4	1.4	·	1.7	1.9	1.8
P / Tangible Book	·	3.3	5.5	5.9	·	9.2	8.6	12.1	·	25.2	84.7	·	·	·	·	·
P / Cash Flow	·	·	·	20.0	·	·	·	-92.3	·	·	·	8.2	·	·	·	42.8
P / FCF	·	·	·	22.0	·	·	·	-69.3	·	·	·	8.6	·	·	·	54.2
EV / EBITDA	·	-2.3	-58.9	20.4	·	57.8	26.3	36.6	·	46.8	30.3	28.9	·	95.6	-408.5	44.1
EV / FCF	·	·	·	22.7	·	·	·	-66.6	·	·	·	8.7	·	·	·	60.8
EV / Revenue	·	0.1	0.2	0.2	·	0.2	0.2	0.3	·	0.2	0.2	0.2	·	0.3	0.4	0.4
Earnings Yield	·	-28.1%	10.4%	13.7%	·	8.7%	10.7%	8.9%	·	8.9%	7.3%	7.1%	·	4.4%	1.4%	3.2%

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$194.78B	$163.07B	$154.00B	$144.55B	$125.98B
Gross Margin %	7.3%	10.5%	11.5%	—	—
Operating Margin %	-3.9%	1.9%	1.9%	0.91%	1.4%
Net Income	$-6.67B	$3.31B	$2.70B	$1.20B	$1.35B
Diluted EPS	$-13.53	$6.31	$4.95	$2.07	$2.28

Balance Sheet

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Debt / Equity	0.9	0.7	0.7	0.7	0.7
Current Ratio	1.1	1.1	1.1	1.1	1.1
Quick Ratio	0.6	0.5	0.5	0.5	0.6

Cash Flow

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$4.32B	$-490M	$7.25B	$5.26B	$3.29B

Latest News Recent headlines mentioning this company

Centene Corporation (CNC): David Einhorn Is Bullish on This Managed Care Firm Yahoo Finance · 3 hours, 15 minutes ago

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CNC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

CNC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

Moving averages & overlays

Volume

Oscillators

Momentum & trend

10-Year Performance Revenue, net income, margins and EPS trends

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Financial Health Debt, liquidity, solvency — balance sheet strength

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

CNC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

12-Month Price Target

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Peer Comparison Key metrics vs sector peers

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Latest News Recent headlines mentioning this company

My Metrics Your personal watchlist — selected rows from Full Fundamentals