Centene Corporation

Health Care Managed Health Care St. Louis, Missouri Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$174.6B
                    3y CAGR +8.8%
                    
                    P69
                    
                    +20.0%
                    
                    Net income
                    FY2025
                
$-6.7B
                    Net margin -3.8%
                    
                    P7
                    
                    -301.9%
                    
                    Total assets
                    FY2025
                
$76.7B
                    ROA -8.7%
                    
                    P5
                    
                    -6.9%
                    
                    Operating cash flow
                    FY2025
                
$5.1B
                    FCF margin +2.5%
                    
                    P20
                    
                    +3203.9%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 10 years

Total assets $76.7B

Total liabilities $56.7B

Shareholders equity $20.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+18.3%	+17.3%	+23.5%	+20.6%	+27.3%	+28.8%	+45.6%	+16.6%	+3.6%	—
Short Term Investments	+19.1%	+22.9%	+25.4%	+28.9%	+25.0%	+33.0%	+19.6%	+19.6%	+5.1%	—
Prepaid Expenses	+9.9%	+8.5%	+31.2%	+19.8%	+14.0%	+12.2%	+9.4%	-2.9%	-17.4%	—
Other Current Assets	+9.9%	+8.5%	+31.2%	+19.8%	+14.0%	+12.2%	+9.4%	-2.9%	-17.4%	—
Total Current Assets	+19.1%	+20.8%	+25.4%	+23.8%	+27.8%	+29.3%	+34.4%	+19.8%	+4.0%	—
Property,Plant and Equipment	+11.0%	+12.7%	+14.2%	+20.4%	+33.6%	+36.6%	+38.6%	+46.3%	+38.5%	—
Goodwill	+9.7%	+17.9%	+20.7%	+26.0%	+33.2%	+41.1%	+13.4%	+22.0%	+0.8%	—
Intangible Assets	+12.7%	+17.0%	+21.7%	+28.4%	+38.3%	+52.6%	+10.1%	+20.4%	-9.5%	—
Long Term Investments	+15.8%	+18.3%	+20.0%	+21.6%	+25.3%	+29.7%	+19.3%	+33.8%	+16.9%	—
Other Noncurrent Assets	+21.0%	+25.7%	+28.0%	+74.5%	+108.9%	+102.5%	+136.0%	+135.5%	+377.9%	—
Total Assets	+16.0%	+19.2%	+22.7%	+25.0%	+31.2%	+35.8%	+26.6%	+23.7%	+8.2%	—
Liabilities
Accounts Payable	+15.5%	+17.0%	+23.4%	+16.7%	+17.7%	+17.1%	+3.4%	+3.8%	+10.7%	—
Accrued Liabilities	+17.5%	+18.8%	+23.0%	+22.0%	+24.5%	+25.8%	+14.5%	+17.8%	+8.2%	—
Deferred Revenue	+10.0%	+9.8%	+12.5%	+7.3%	+6.8%	+13.7%	+7.0%	+10.9%	+4.8%	—
Current Portion of Long Term Debt	+32.4%	+51.3%	+62.4%	+65.4%	+131.7%	+121.9%	+180.2%	+208.2%	+0.0%	—
Other Current Liabilities	+8.5%	+14.5%	+22.6%	+36.5%	+45.2%	+35.8%	+25.8%	+20.4%	+9.6%	—
Total Current Liabilities	+17.5%	+18.8%	+23.0%	+22.0%	+24.5%	+25.8%	+14.5%	+17.8%	+8.2%	—
Long Term Debt	+15.8%	+18.8%	+21.0%	+25.2%	+31.9%	+37.6%	+43.1%	+19.6%	+0.9%	—
Deferred Tax Liabilities	+2.4%	+0.2%	-0.7%	-1.5%	+15.9%	+22.9%	+5.6%	-8.9%	-23.8%	—
Other Noncurrent Liabilities	+8.5%	+14.5%	+22.6%	+36.5%	+45.2%	+35.8%	+25.8%	+20.4%	+9.6%	—
Total Liabilities	+16.7%	+18.8%	+22.5%	+24.5%	+29.4%	+31.9%	+26.0%	+18.6%	+5.9%	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	—	—	—	—	—	—	—	—	—	—
Additional Paid In Capital	+19.5%	+22.0%	+25.3%	+29.8%	+36.2%	+46.8%	+22.2%	+33.3%	+3.8%	—
Retained Earnings	+18.2%	+29.7%	+30.0%	+30.2%	+33.5%	+37.1%	+37.4%	+38.1%	+43.1%	—
Treasury Stock	+10.8%	+43.1%	+37.3%	+69.3%	+43.6%	+46.1%	+6.1%	-11.9%	+36.3%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Noncontrolling Interest	+21.4%	+26.2%	+31.9%	+43.8%	+59.6%	+68.2%	+97.6%	+161.9%	+0.0%	—
Total Stockholders Equity	+14.5%	+20.6%	+23.5%	+26.4%	+35.4%	+44.6%	+28.6%	+36.1%	+16.2%	—
Total Liabilitiesand Equity	+16.0%	+19.2%	+22.7%	+25.0%	+31.2%	+35.8%	+26.6%	+23.7%	+8.2%	—

Income Statement

Revenue, expense, and profitability

19 accounts · 10 years

Revenue $174.6B

Operating income $-7.6B

Net income $-6.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+18.6%	+18.4%	+20.7%	+23.8%	+25.7%	+28.9%	+23.3%	+22.5%	+21.4%	—
Expenses Cost of Revenue	+4.1%	+4.9%	+9.7%	+24.8%	+21.3%	+15.4%	+9.8%	+13.1%	-0.9%	—
Expenses Selling,General and Administrative	+15.0%	+16.4%	+19.2%	+21.1%	+21.2%	+26.4%	+21.2%	+28.3%	+21.0%	—
Expenses Depreciation and Amortization	+18.4%	+20.6%	+24.6%	+31.4%	+36.9%	+45.9%	+32.2%	+33.4%	+29.9%	—
Expenses Share Based Compensation	+3.6%	+4.6%	+5.5%	+7.9%	+6.5%	+17.4%	+6.1%	-1.0%	-8.8%	—
Expenses Operating Expenses	+20.0%	+19.2%	+21.2%	+24.0%	+25.8%	+28.7%	+22.8%	+22.1%	+19.9%	—
Other Income Expense Gross Profit	—	—	—	—	—	—	—	—	—	—
Other Income Expense Operating Income	—	+12.2%	+12.8%	+0.7%	+7.2%	+25.0%	+12.1%	+7.4%	-5.1%	—
Other Income Expense Interest Income	+33.8%	+41.0%	+43.0%	+49.6%	+48.3%	+43.2%	+57.2%	+49.0%	+66.7%	—
Other Income Expense Interest Expense	+13.5%	+15.8%	+18.8%	+20.5%	+25.1%	+35.3%	+23.8%	+25.7%	+17.5%	—
Other Income Expense Other Income/expense	—	—	—	—	—	—	—	—	—	—
Other Income Expense Income Before Tax	—	+17.6%	+17.6%	+9.2%	+9.3%	+24.3%	+15.4%	+8.6%	-2.2%	—
Income Tax Income Tax Expense	—	+6.1%	+6.0%	+4.0%	-4.5%	+13.1%	-7.6%	-11.0%	-45.6%	—
net Income net Income	—	+24.8%	+25.1%	+13.5%	+19.1%	+33.9%	+33.0%	+26.5%	+47.3%	—
net Income Comprehensive Income	—	+26.2%	+29.0%	—	+15.2%	+39.2%	+41.3%	+25.7%	+60.6%	—
Earnings Per Share Basic Eps	—	+17.4%	+16.0%	+2.9%	+5.6%	+15.8%	+21.9%	+14.6%	+36.4%	—
Earnings Per Share Diluted Eps	—	+17.7%	+16.4%	+3.2%	+5.9%	+16.2%	+22.5%	+15.0%	+36.8%	—
Earnings Per Share Weighted Average Shares Basic	+5.0%	+6.3%	+7.9%	+10.3%	+12.8%	+15.6%	+9.0%	+10.6%	+8.1%	—
Earnings Per Share Weighted Average Shares Diluted	+4.6%	+6.0%	+7.5%	+10.0%	+12.5%	+15.3%	+8.6%	+10.2%	+7.8%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $5.1B

Investing cash flow $472.0M

Financing cash flow $-1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	—	+24.8%	+25.1%	+13.5%	+19.1%	+33.9%	+33.0%	+26.5%	+47.3%	—
Operating Activities Depreciation and Amortization	+18.4%	+20.6%	+24.6%	+31.4%	+36.9%	+45.9%	+32.2%	+33.4%	+29.9%	—
Operating Activities Stock Based Compensation	+3.6%	+4.6%	+5.5%	+7.9%	+6.5%	+17.4%	+6.1%	-1.0%	-8.8%	—
Operating Activities Deferred Income Taxes	—	-21.7%	—	—	—	—	-15.8%	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	-0.8%	—	+15.7%	-15.6%	—	—	—	—	-55.8%	—
Operating Activities Other Non Cash Items	—	—	—	—	—	—	—	—	—	—
Operating Activities net Cash From Operating Activities	+11.9%	-26.7%	+23.4%	+22.5%	+17.8%	+31.3%	-7.1%	-18.4%	-19.6%	—
Investing Activities Capital Expenditures	+10.7%	+9.7%	+14.7%	+21.9%	+24.4%	+29.8%	+33.6%	+48.5%	+37.9%	—
Investing Activities Purchases of Investments	+7.2%	+14.5%	+15.4%	+18.5%	+24.9%	+32.1%	+1.9%	+25.8%	+9.2%	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	-24.1%	-21.4%	-17.5%	-41.5%	+0.7%	-13.1%	+40.3%	-17.6%	-84.4%	—
Financing Activities Repayment of Debt	-12.1%	-24.8%	-12.9%	-20.9%	+4.1%	-9.5%	+43.1%	-18.0%	-77.7%	—
Financing Activities Repurchase of Common Stock	+25.2%	+62.9%	+59.2%	+91.4%	+36.4%	+77.5%	+6.0%	+6.2%	+3.2%	—
Financing Activities Proceeds From Stock Issuance	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	-12.9%	-44.4%	+36.0%	+30.3%	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	+7.3%	—	+13.8%	—	+1.5%	—	+47.9%	-22.5%	-92.7%	—
Cash Reconciliation Cash At Beginning of Period	+18.4%	+17.4%	+23.7%	+21.0%	+27.4%	+29.2%	+45.5%	+16.6%	+3.9%	—
Cash Reconciliation Cash At End of Period	+18.4%	+17.4%	+23.7%	+21.0%	+27.4%	+29.2%	+45.5%	+16.6%	+3.9%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+98.5%	+98.1%	+97.5%	+94.8%	+95.9%	+96.8%	+96.5%	+95.8%	+96.0%	+95.0%
Operating margin	-4.4%	+2.2%	+2.1%	+1.0%	+1.5%	+3.0%	+2.5%	+2.6%	+2.6%	+3.4%
Net margin	-3.8%	+2.3%	+1.9%	+0.9%	+1.1%	+1.7%	+1.9%	+1.6%	+1.8%	+1.5%
FCF margin	+2.5%	-0.3%	+5.2%	+3.9%	+2.8%	+4.5%	+1.1%	+1.0%	+2.3%	+4.1%
Growth
Revenue CAGR (3y)	+8.8%	+7.2%	+10.5%	+24.4%	+27.9%	+31.5%	+23.3%	+35.4%	+40.2%	+51.2%
Returns
ROE	-33.4%	+12.5%	+10.5%	+5.0%	+5.0%	+7.0%	+10.5%	+8.2%	+12.1%	+9.5%
ROA	-8.7%	+4.0%	+3.2%	+1.6%	+1.7%	+2.6%	+3.2%	+2.9%	+3.8%	+2.8%
ROIC	-39.2%	+8.0%	+8.3%	+2.7%	+4.0%	+6.3%	+9.2%	+7.8%	+11.4%	+9.2%
Liquidity
Current ratio	1.10x	1.11x	1.11x	1.06x	1.11x	1.08x	1.57x	1.00x	0.93x	0.97x
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	2.84x	2.12x	2.27x	2.19x	1.92x	1.66x	2.25x	1.82x	2.19x	2.40x
Interest coverage	-11.24x	4.52x	4.04x	1.98x	2.68x	4.23x	4.32x	4.25x	4.70x	5.82x
Efficiency
Asset turnover	2.27x	1.76x	1.66x	1.76x	1.51x	1.51x	1.72x	1.83x	2.09x	1.86x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Centene Corporation

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