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Side-by-side financial comparison of Centene Corporation (CNC) and EQUINOR ASA (EQNR). Click either name above to swap in a different company.
Centene Corporation is the larger business by last-quarter revenue ($44.7B vs $26.0B, roughly 1.7× EQUINOR ASA). EQUINOR ASA runs the higher net margin — -0.8% vs -2.5%, a 1.7% gap on every dollar of revenue. On growth, Centene Corporation posted the faster year-over-year revenue change (23.2% vs 2.4%).
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.
Equinor ASA is a Norwegian multinational energy company headquartered in Stavanger, Norway. It is primarily a petroleum company operating in 36 countries with additional investments in renewable energy and lithium mining. In the 2020 Forbes Global 2000, Equinor was ranked as the 169th-largest public company in the world. In 2023, the company was ranked 52nd in the same list. As of 2021, the company has 21,126 employees.
CNC vs EQNR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.7B | $26.0B |
| Net Profit | $-1.1B | $-204.0M |
| Gross Margin | 5.7% | 46.6% |
| Operating Margin | -3.9% | 20.2% |
| Net Margin | -2.5% | -0.8% |
| Revenue YoY | 23.2% | 2.4% |
| Net Profit YoY | -489.0% | -108.9% |
| EPS (diluted) | $-2.15 | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $44.7B | — | ||
| Q3 25 | $44.9B | $26.0B | ||
| Q2 25 | $42.5B | $25.1B | ||
| Q1 25 | $42.5B | — | ||
| Q4 24 | $36.3B | — | ||
| Q3 24 | $36.9B | $25.4B | ||
| Q2 24 | $36.0B | — | ||
| Q1 24 | $36.3B | — |
| Q4 25 | $-1.1B | — | ||
| Q3 25 | $-6.6B | $-204.0M | ||
| Q2 25 | $-253.0M | $1.3B | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $283.0M | — | ||
| Q3 24 | $713.0M | $2.3B | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | 5.7% | — | ||
| Q3 25 | 7.5% | 46.6% | ||
| Q2 25 | 7.1% | 49.3% | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | 10.5% | — | ||
| Q3 24 | 10.9% | 48.5% | ||
| Q2 24 | 12.6% | — | ||
| Q1 24 | 13.0% | — |
| Q4 25 | -3.9% | — | ||
| Q3 25 | -15.5% | 20.2% | ||
| Q2 25 | -1.1% | 22.8% | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 1.8% | 27.1% | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 3.0% | — |
| Q4 25 | -2.5% | — | ||
| Q3 25 | -14.8% | -0.8% | ||
| Q2 25 | -0.6% | 5.2% | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 1.9% | 9.0% | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 3.2% | — |
| Q4 25 | $-2.15 | — | ||
| Q3 25 | $-13.50 | $-0.08 | ||
| Q2 25 | $-0.51 | $0.50 | ||
| Q1 25 | $2.63 | — | ||
| Q4 24 | $0.63 | — | ||
| Q3 24 | $1.36 | $0.82 | ||
| Q2 24 | $2.16 | — | ||
| Q1 24 | $2.16 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.3B | $8.1B |
| Total DebtLower is stronger | $17.5B | — |
| Stockholders' EquityBook value | $20.0B | $40.6B |
| Total Assets | $76.7B | $135.8B |
| Debt / EquityLower = less leverage | 0.88× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.3B | — | ||
| Q3 25 | $19.2B | $8.1B | ||
| Q2 25 | $17.3B | — | ||
| Q1 25 | $17.3B | — | ||
| Q4 24 | $16.7B | — | ||
| Q3 24 | $17.6B | $6.2B | ||
| Q2 24 | $20.2B | — | ||
| Q1 24 | $19.7B | — |
| Q4 25 | $17.5B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $18.6B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $20.0B | — | ||
| Q3 25 | $20.9B | $40.6B | ||
| Q2 25 | $27.4B | — | ||
| Q1 25 | $27.9B | — | ||
| Q4 24 | $26.4B | — | ||
| Q3 24 | $27.3B | $44.4B | ||
| Q2 24 | $27.4B | — | ||
| Q1 24 | $27.0B | — |
| Q4 25 | $76.7B | — | ||
| Q3 25 | $82.1B | $135.8B | ||
| Q2 25 | $86.4B | — | ||
| Q1 25 | $87.0B | — | ||
| Q4 24 | $82.4B | — | ||
| Q3 24 | $82.4B | — | ||
| Q2 24 | $83.1B | — | ||
| Q1 24 | $82.6B | — |
| Q4 25 | 0.88× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $437.0M | $6.3B |
| Free Cash FlowOCF − Capex | $224.0M | — |
| FCF MarginFCF / Revenue | 0.5% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $437.0M | — | ||
| Q3 25 | $1.4B | $6.3B | ||
| Q2 25 | $1.8B | $2.5B | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $-587.0M | — | ||
| Q3 24 | $-978.0M | $6.5B | ||
| Q2 24 | $2.2B | — | ||
| Q1 24 | $-456.0M | — |
| Q4 25 | $224.0M | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $-741.0M | — | ||
| Q3 24 | $-1.1B | — | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $-607.0M | — |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 3.7% | — | ||
| Q1 25 | 3.2% | — | ||
| Q4 24 | -2.0% | — | ||
| Q3 24 | -3.1% | — | ||
| Q2 24 | 5.5% | — | ||
| Q1 24 | -1.7% | — |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.88× | ||
| Q1 25 | 1.15× | — | ||
| Q4 24 | -2.07× | — | ||
| Q3 24 | -1.37× | 2.84× | ||
| Q2 24 | 1.90× | — | ||
| Q1 24 | -0.39× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CNC
| Total Premium And Service | $23.0B | 52% |
| Commercial Segment | $10.8B | 24% |
| Medicare Segment | $9.6B | 21% |
| Services | $749.0M | 2% |
EQNR
Segment breakdown not available.
