Centene Corp. (CNC)

Name: Centene Corp. (CNC): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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Centene Corp. (CNC) reported revenue of $53.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 9.9% on the same quarter a year earlier. Net income was $1.1 billion, and diluted earnings per share $2.19. The figures are the company's own, from the 10-Q it filed with the SEC on 28 July 2026.

Revenue$53.6 billionup 9.9%

Net income$1.1 billion

Diluted EPS$2.19

QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE-22.6%

ROCE-14.6%

Operating margin-2.8%

Net margin-2.5%

FCF margin4.4%

Interest cover-8.61

Debt to equity0.71

Cash conversionn/a

Share count, 1 year0.6%

Sales CAGR, 3 years10.5%

Profit CAGR, 3 yearsn/a

EPS, TTM-$10.35

At the close of 21 September 2026

Price$64.99

Market cap$32.1 billion

Stock P/En/a

Price to book1.42

EV / EBITDAn/a

Dividend yieldn/a

Market cap / sales0.16

52-week high$69.41

52-week low$31.80

Price, 1 year104.6%

Price CAGR, 3 years-1.8%

Price CAGR, 5 years0.6%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Centene Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CNC

Filings	19 in twelve months: 13 current reports (8-K), about 7 regulation fd disclosure; 5 officer or director change; 4 results of operations; 2 other events; 1 shareholder vote
Planned insider sales	8 Form 144 notices in twelve months, $24.5 million; latest 26 August 2026
Options tape	put/call 1.14 by open interest on 23 September 2026; the straddle prices a 3.7% move to 25 September 2026
Holders	11 of the followed funds hold it; largest Geode Capital Management; 5 Schedule 13D or 13G filings in twelve months
Insider trading	5 sales and 0 purchases on Form 4 in twelve months
Congress	0 House trades disclosed in six months
Short interest	13.4 million shares short, 3.46 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	38,042	39,460	40,407	39,836	42,023	40,805	46,620	48,742	49,690	49,725	49,944	53,579
Cost of revenue	856	961	669	680	692	688	698	641	651	680	702	729
Gross profit	4,632	3,743	4,736	4,528	4,006	3,799	5,288	3,018	3,345	2,558	5,650	4,617
Gross margin	12%	9%	12%	11%	10%	9%	11%	6%	7%	5%	11%	9%
SG&A	3,048	3,488	3,218	2,894	3,057	3,231	3,353	3,036	3,145	3,370	3,397	3,103
Operating income	735	-194	1,106	1,229	665	175	1,534	-458	-6,954	-1,745	1,861	1,198
Operating margin	2%	-0%	3%	3%	2%	0%	3%	-1%	-14%	-4%	4%	2%
Interest expense	181	183	178	176	176	172	170	170	170	168	164	153
Pre-tax income	768	24.0	1,473	1,516	921	347	1,746	-257	-6,674	-1,543	2,099	1,486
Tax rate	38%	-62%	21%	24%	23%	19%	25%	n/a	n/a	n/a	27%	27%
Net income	469	45.0	1,163	1,146	713	283	1,311	-253	-6,631	-1,101	1,541	1,091
Net margin	1%	0%	3%	3%	2%	1%	3%	-1%	-13%	-2%	3%	2%
Diluted EPS	$0.87	$0.12	$2.16	$2.16	$1.36	$0.63	$2.63	-$0.51	-$13.50	-$2.15	$3.11	$2.19
Operating cash flow	1,021	217	-456	2,175	-978	-587	1,510	1,785	1,356	437	4,366	3,590
Capital expenditure	136	223	151	186	153	154	135	208	211	213	200	174
Free cash flow	885	-6.0	-607	1,989	-1,131	-741	1,375	1,577	1,145	224	4,166	3,416
Buybacks	774	31.0	151	803	1,227	943	41.0	432	0.0	2.0	29.0	4.0
Shares outstanding	535m	534m	536m	526m	510m	496m	498m	491m	491m	492m	494m	494m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014 †	FY2015	FY2016 †	FY2017	FY2018	FY2019	FY2020 †	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Revenue	16,560	22,760	40,607	48,382	60,116	74,639	111,115	125,982	144,547	153,999	163,071	194,777	202,938
Cost of revenue	1,280	1,621	1,864	1,847	2,386	2,465	3,303	4,894	7,032	3,564	2,729	2,670	2,762
Gross profit	15,280	21,139	38,743	46,535	57,730	72,174	107,812	14,487	16,918	17,637	17,069	14,209	16,170
Gross margin	92.3%	92.9%	95.4%	96.2%	96.0%	96.7%	97.0%	11.5%	11.7%	11.5%	10.5%	7.3%	8.0%
Selling, general and administrative	1,298	1,802	3,676	4,446	6,043	6,533	9,380	9,601	11,589	12,563	12,400	12,904	13,015
Operating income	464	705	1,263	1,199	1,458	1,781	3,082	1,784	1,318	2,930	3,175	-7,623	-5,640
Operating margin	2.8%	3.1%	3.1%	2.5%	2.4%	2.4%	2.8%	1.4%	0.9%	1.9%	1.9%	-3.9%	-2.8%
Interest expense	35.0	43.0	217	255	343	412	728	665	665	725	702	678	655
Pre-tax income	457	697	1,160	1,134	1,368	1,782	2,773	1,813	1,962	3,598	4,257	-6,728	-4,632
Income tax	196	339	599	326	474	473	979	477	760	899	963	-51.0	474
Effective tax rate	42.9%	48.6%	51.6%	28.7%	34.6%	26.5%	35.3%	26.3%	38.7%	25.0%	22.6%	n/a	n/a
Net income	271	355	562	828	900	1,321	1,808	1,347	1,202	2,702	3,305	-6,674	-5,100
Net margin	1.6%	1.6%	1.4%	1.7%	1.5%	1.8%	1.6%	1.1%	0.8%	1.8%	2.0%	-3.4%	-2.5%
Diluted EPS	$2.25	$2.88	$3.43	$4.69	$2.26	$3.14	$3.12	$2.28	$2.07	$4.95	$6.31	-$13.53	-$10.35
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2014 †	FY2015	FY2016 †	FY2017	FY2018	FY2019	FY2020 †	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Operating cash flow	1,223	658	1,851	1,489	1,234	1,483	5,503	4,205	6,261	8,053	154	5,088	9,749
Capital expenditure	103	150	306	422	675	730	869	910	1,004	799	644	767	798
Free cash flow	1,120	508	1,545	1,067	559	753	4,634	3,295	5,257	7,254	-490	4,321	8,951
Free cash flow margin	6.8%	2.2%	3.8%	2.2%	0.9%	1.0%	4.2%	2.6%	3.6%	4.7%	-0.3%	2.2%	4.4%
Depreciation and amortisation	89.0	111	278	361	495	643	1,259	1,335	1,430	1,293	1,241	1,275	1,247
Share-based compensation	48.0	71.0	148	135	145	177	281	203	234	216	212	204	236
Buybacks	29.0	53.0	63.0	65.0	71.0	75.0	626	297	3,096	1,633	3,124	475	35.0
Diluted shares, weighted	120m	123m	164m	177m	399m	420m	579m	591m	582m	546m	524m	493m	498m
Shares outstanding at period end	118m	120m	172m	173m	412m	415m	581m	582m	551m	534m	496m	492m	494m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014 †	FY2015	FY2016 †	FY2017	FY2018	FY2019	FY2020 †	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Total assets	5,824	7,339	20,197	21,855	30,901	40,994	68,719	78,375	76,870	84,641	82,445	76,747	83,012
Cash and equivalents	1,610	1,760	3,930	4,072	5,342	12,123	10,800	13,118	12,074	17,193	14,063	17,888	24,151
Goodwill	754	842	4,712	4,749	7,015	6,863	18,652	19,771	18,812	17,558	17,558	10,835	10,835
Long-term debt	878	1,223	4,782	4,829	6,851	13,859	16,880	19,026	18,179	17,962	18,640	17,493	16,030
Operating lease liabilities	n/a	n/a	n/a	n/a	n/a	622	1,334	3,619	3,133	880	738	615	n/a
Shareholders' equity	1,744	2,157	5,895	6,850	10,917	12,551	25,773	26,795	24,057	25,840	26,410	19,953	22,562
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	23.9%	11.9%	10.5%	13.9%
Profit growth, compounded	n/a	n/a	n/a	n/a
Return on equity, average	4.7%	-0.1%	-3.5%	-33.4%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Hospital & Medical Service Plans

Company	Market cap	P/E	ROE	Op. margin	Sales growth TTM	Debt to equity	Div. yield
UnitedHealth Group Inc. UNH	$341.7 billion	24.29	13.5%	4.8%	6.5%	0.67	2.3%
Elevance Health, Inc. ELV	$88.8 billion	18.12	11.1%	2.7%	6.3%	0.69	1.7%
Cigna Group CI	$72.5 billion	11.36	15.1%	3.5%	7.8%	0.68	2.2%
Humana Inc. HUM	$45.5 billion	40.40	6.1%	1.8%	14.1%	0.66	0.9%
Centene Corp. CNC	$32.1 billion	n/a	-22.6%	-2.8%	13.9%	0.71	n/a

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

Filing	Period	Filed	Where
10-Q	30 June 2026	28 July 2026	EDGAR
10-Q	31 March 2026	28 April 2026	EDGAR
10-K	31 December 2025	17 February 2026	EDGAR
10-Q	30 September 2025	29 October 2025	EDGAR
10-Q	30 June 2025	25 July 2025	EDGAR
10-Q	31 March 2025	25 April 2025	EDGAR
10-K	31 December 2024	18 February 2025	EDGAR
10-Q	30 September 2024	25 October 2024	EDGAR
10-Q	30 June 2024	26 July 2024	EDGAR
10-Q	31 March 2024	26 April 2024	EDGAR

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