Centene CorporationCNCEarnings & Financial Report
Centene Corporation is an American for-profit healthcare company based in the Greater St. Louis area, which is an intermediary for government-sponsored and privately insured healthcare programs. Centene ranked No. 23 on the 2025 Fortune 500.
Revenue
$42.5B
Gross Profit
$3.0B
Operating Profit
$-458.0M
Net Profit
$-253.0M
Gross Margin
7.1%
Operating Margin
-1.1%
Net Margin
-0.6%
YoY Growth
18.1%
EPS
$-0.51
Centene Corporation Q2 FY2025 Financial Summary
Centene Corporation reported revenue of $42.5B (up 18.1% YoY) for Q2 FY2025, with a net profit of $-253.0M (down 122.1% YoY) (-0.6% margin). Cost of goods sold was $39.4B, operating expenses totaled $3.5B.
Key Financial Metrics
| Total Revenue | $42.5B |
|---|---|
| Net Profit | $-253.0M |
| Gross Margin | 7.1% |
| Operating Margin | -1.1% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
Centene Corporation Q2 FY2025 revenue of $42.5B breaks down across 4 segments, led by Total Premium And Service at $21.7B (51.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Total Premium And Service | $21.7B | 51.2% |
| Commercial Segment | $10.1B | 23.7% |
| Medicare Segment | $9.4B | 22.3% |
| Services | $727.0M | 1.7% |
Centene Corporation Revenue by Segment — Quarterly Trend
Centene Corporation revenue by segment across the last 4 reported quarters, showing how each business line (such as Total Premium And Service and Commercial Segment) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Total Premium And Service | — | $23.0B | $23.2B | $21.7B |
| Commercial Segment | — | $10.8B | $11.0B | $10.1B |
| Medicare Segment | — | $9.6B | $9.4B | $9.4B |
| Services | — | $749.0M | $772.0M | $727.0M |
Centene Corporation Annual Revenue by Year
Centene Corporation annual revenue history includes year-by-year totals (for example, 2025 revenue was $174.6B).
| Year | Annual Revenue |
|---|---|
| 2025 | $174.6B |
| 2024 | $145.5B |
Centene Corporation Quarterly Revenue & Net Profit History
Centene Corporation results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $49.9B | +7.1% | $1.5B | 3.1% |
| Q4 FY2025 | $44.7B | +23.2% | $-1.1B | -2.5% |
| Q3 FY2025 | $44.9B | +21.7% | $-6.6B | -14.8% |
| Q2 FY2025 | $42.5B | +18.1% | $-253.0M | -0.6% |
| Q1 FY2025 | $42.5B | +16.9% | $1.3B | 3.1% |
| Q4 FY2024 | $36.3B | +2.7% | $283.0M | 0.8% |
| Q3 FY2024 | $36.9B | +5.5% | $713.0M | 1.9% |
| Q2 FY2024 | $36.0B | +3.3% | $1.1B | 3.2% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $35.97B | $36.90B | $36.30B | $42.49B | $42.47B | $44.90B | $44.73B | $49.94B |
| YoY Growth | 3.3% | 5.5% | 2.7% | 16.9% | 18.1% | 21.7% | 23.2% | 7.1% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $83.14B | $82.35B | $82.44B | $87.04B | $86.39B | $82.09B | $76.75B | $81.17B |
| Liabilities | $55.68B | $54.94B | $55.94B | $59.02B | $58.89B | $61.03B | $56.69B | $59.65B |
| Equity | $27.35B | $27.31B | $26.41B | $27.92B | $27.41B | $20.95B | $19.95B | $21.50B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $2.17B | $-978.0M | $-587.0M | $1.51B | $1.78B | $1.36B | $437.0M | $4.37B |