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Side-by-side financial comparison of Centene Corporation (CNC) and T-Mobile US (TMUS). Click either name above to swap in a different company.
Centene Corporation is the larger business by last-quarter revenue ($44.7B vs $23.1B, roughly 1.9× T-Mobile US). T-Mobile US runs the higher net margin — 10.8% vs -2.5%, a 13.3% gap on every dollar of revenue. On growth, Centene Corporation posted the faster year-over-year revenue change (23.2% vs 10.6%). T-Mobile US produced more free cash flow last quarter ($4.6B vs $224.0M). Over the past eight quarters, Centene Corporation's revenue compounded faster (10.9% CAGR vs 8.1%).
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.
T-Mobile US, Inc. is an American wireless network operator headquartered in Bellevue, Washington. Its majority shareholder and namesake is the German telecommunications company Deutsche Telekom. T-Mobile is the second largest wireless carrier in the United States, with 140 million subscribers as of September 30, 2025.
CNC vs TMUS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $44.7B | $23.1B |
| Net Profit | $-1.1B | $2.5B |
| Gross Margin | 5.7% | — |
| Operating Margin | -3.9% | 20.8% |
| Net Margin | -2.5% | 10.8% |
| Revenue YoY | 23.2% | 10.6% |
| Net Profit YoY | -489.0% | -15.2% |
| EPS (diluted) | $-2.15 | $2.27 |
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.
| Q1 26 | — | $23.1B | ||
| Q4 25 | $44.7B | $24.3B | ||
| Q3 25 | $44.9B | $22.0B | ||
| Q2 25 | $42.5B | $21.1B | ||
| Q1 25 | $42.5B | $20.9B | ||
| Q4 24 | $36.3B | $21.9B | ||
| Q3 24 | $36.9B | $20.2B | ||
| Q2 24 | $36.0B | $19.8B |
| Q1 26 | — | $2.5B | ||
| Q4 25 | $-1.1B | $2.1B | ||
| Q3 25 | $-6.6B | $2.7B | ||
| Q2 25 | $-253.0M | $3.2B | ||
| Q1 25 | $1.3B | $3.0B | ||
| Q4 24 | $283.0M | $3.0B | ||
| Q3 24 | $713.0M | $3.1B | ||
| Q2 24 | $1.1B | $2.9B |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | — | ||
| Q3 25 | 7.5% | — | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | 10.5% | — | ||
| Q3 24 | 10.9% | — | ||
| Q2 24 | 12.6% | — |
| Q1 26 | — | 20.8% | ||
| Q4 25 | -3.9% | 15.4% | ||
| Q3 25 | -15.5% | 20.6% | ||
| Q2 25 | -1.1% | 24.7% | ||
| Q1 25 | 3.6% | 23.0% | ||
| Q4 24 | 0.5% | 21.0% | ||
| Q3 24 | 1.8% | 23.8% | ||
| Q2 24 | 3.4% | 23.4% |
| Q1 26 | — | 10.8% | ||
| Q4 25 | -2.5% | 8.6% | ||
| Q3 25 | -14.8% | 12.4% | ||
| Q2 25 | -0.6% | 15.2% | ||
| Q1 25 | 3.1% | 14.1% | ||
| Q4 24 | 0.8% | 13.6% | ||
| Q3 24 | 1.9% | 15.2% | ||
| Q2 24 | 3.2% | 14.8% |
| Q1 26 | — | $2.27 | ||
| Q4 25 | $-2.15 | $1.89 | ||
| Q3 25 | $-13.50 | $2.41 | ||
| Q2 25 | $-0.51 | $2.84 | ||
| Q1 25 | $2.63 | $2.58 | ||
| Q4 24 | $0.63 | $2.56 | ||
| Q3 24 | $1.36 | $2.61 | ||
| Q2 24 | $2.16 | $2.49 |
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 | $3.5B |
| Total DebtLower is stronger | $17.5B | $86.0B |
| Stockholders' EquityBook value | $20.0B | $55.9B |
| Total Assets | $76.7B | $214.7B |
| Debt / EquityLower = less leverage | 0.88× | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.5B | ||
| Q4 25 | $20.3B | $5.6B | ||
| Q3 25 | $19.2B | $3.3B | ||
| Q2 25 | $17.3B | $10.3B | ||
| Q1 25 | $17.3B | $12.0B | ||
| Q4 24 | $16.7B | $5.4B | ||
| Q3 24 | $17.6B | $9.8B | ||
| Q2 24 | $20.2B | $6.4B |
| Q1 26 | — | $86.0B | ||
| Q4 25 | $17.5B | $86.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $18.6B | $78.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $55.9B | ||
| Q4 25 | $20.0B | $59.2B | ||
| Q3 25 | $20.9B | $60.5B | ||
| Q2 25 | $27.4B | $61.1B | ||
| Q1 25 | $27.9B | $61.1B | ||
| Q4 24 | $26.4B | $61.7B | ||
| Q3 24 | $27.3B | $64.3B | ||
| Q2 24 | $27.4B | $62.6B |
| Q1 26 | — | $214.7B | ||
| Q4 25 | $76.7B | $219.2B | ||
| Q3 25 | $82.1B | $217.2B | ||
| Q2 25 | $86.4B | $212.6B | ||
| Q1 25 | $87.0B | $214.6B | ||
| Q4 24 | $82.4B | $208.0B | ||
| Q3 24 | $82.4B | $210.7B | ||
| Q2 24 | $83.1B | $208.6B |
| Q1 26 | — | 1.54× | ||
| Q4 25 | 0.88× | 1.46× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.71× | 1.27× | ||
| Q3 24 | — | — | ||
| Q2 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 | $7.2B |
| Free Cash FlowOCF − Capex | $224.0M | $4.6B |
| FCF MarginFCF / Revenue | 0.5% | 19.9% |
| Capex IntensityCapex / Revenue | 0.5% | 0.0% |
| Cash ConversionOCF / Net Profit | — | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | $4.3B | $18.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $7.2B | ||
| Q4 25 | $437.0M | $6.7B | ||
| Q3 25 | $1.4B | $7.5B | ||
| Q2 25 | $1.8B | $7.0B | ||
| Q1 25 | $1.5B | $6.8B | ||
| Q4 24 | $-587.0M | $5.5B | ||
| Q3 24 | $-978.0M | $6.1B | ||
| Q2 24 | $2.2B | $5.5B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $224.0M | $4.2B | ||
| Q3 25 | $1.1B | $4.8B | ||
| Q2 25 | $1.6B | $4.6B | ||
| Q1 25 | $1.4B | $4.4B | ||
| Q4 24 | $-741.0M | $3.3B | ||
| Q3 24 | $-1.1B | $4.2B | ||
| Q2 24 | $2.0B | $3.5B |
| Q1 26 | — | 19.9% | ||
| Q4 25 | 0.5% | 17.2% | ||
| Q3 25 | 2.6% | 21.9% | ||
| Q2 25 | 3.7% | 21.7% | ||
| Q1 25 | 3.2% | 21.0% | ||
| Q4 24 | -2.0% | 15.3% | ||
| Q3 24 | -3.1% | 20.7% | ||
| Q2 24 | 5.5% | 17.6% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 0.5% | 10.1% | ||
| Q3 25 | 0.5% | 12.0% | ||
| Q2 25 | 0.5% | 11.3% | ||
| Q1 25 | 0.3% | 11.7% | ||
| Q4 24 | 0.4% | 10.1% | ||
| Q3 24 | 0.4% | 9.7% | ||
| Q2 24 | 0.5% | 10.3% |
| Q1 26 | — | 2.88× | ||
| Q4 25 | — | 3.16× | ||
| Q3 25 | — | 2.75× | ||
| Q2 25 | — | 2.17× | ||
| Q1 25 | 1.15× | 2.32× | ||
| Q4 24 | -2.07× | 1.86× | ||
| Q3 24 | -1.37× | 2.01× | ||
| Q2 24 | 1.90× | 1.89× |
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% |
TMUS
| Postpaid service revenues | $15.6B | 68% |
| Other | $7.5B | 32% |
