Centene (CNC) FY2011 results: revenue $5.2 billion, up 17.2% on the year
Centene Corp. (CNC) reported revenue of $5.2 billion for fiscal 2011, the year ended 31 December 2011, up 17.2% on the year before. Net income was $111 million, up 17.3%, and diluted earnings per share $0.53. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2012.
Revenue
$5.2 billion
+17.2% on the year
FY2008FY2011
Operating margin
3.9%
3.5% a year earlier
FY2008FY2011
Net income
$111 million
+17.3% on the year
FY2008FY2011
Diluted EPS
$0.53
+12.8% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
5,211
4,448
4,103
+17.2%
Cost of revenue
78.1
63.9
60.8
+22.2%
Gross profit
5,133
4,384
4,042
+17.1%
Gross margin
98.5%
98.6%
98.5%
Operating income
204
157
138
+29.8%
Operating margin
3.9%
3.5%
3.4%
Interest expense
20.3
18.0
16.3
+12.9%
Pre-tax income
188
154
138
+22.1%
Income tax
70.7
59.9
48.8
+18.0%
Effective tax rate
37.5%
38.8%
35.5%
Net income
111
94.8
83.7
+17.3%
Net margin
2.1%
2.1%
2.0%
Diluted EPS
$0.53
$0.47
$0.47
+12.8%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
262
169
248
+54.9%
Capital expenditure
73.7
119
23.7
-37.8%
Free cash flow
188
50.4
224
+273.2%
Free cash flow margin
3.6%
1.1%
5.5%
Cash from investing
-129
-211
-270
Cash from financing
6.9
72.1
46.5
-90.4%
Depreciation and amortisation
58.3
52.0
44.0
+12.2%
Share-based compensation
18.2
13.9
14.6
+31.0%
Buybacks
7.8
3.2
6.3
+142.2%
Diluted shares, weighted
210m
202m
177m
+4.0%
Shares outstanding at period end
203m
198m
173m
+2.5%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
936
794
601
+17.8%
Non-controlling interest
0.8
3.1
18.6
-74.8%
Debt
352
331
308
+6.3%
Other liabilities
902
816
775
+10.6%
Total liabilities and equity
2,190
1,944
1,702
+12.7%
Fixed assets
350
326
230
+7.1%
Goodwill
282
278
225
+1.4%
Intangible assets
27.4
29.1
22.5
-5.8%
Investments
637
617
565
+3.1%
Cash and equivalents
574
434
404
+32.1%
Other assets
321
259
256
+23.9%
Total assets
2,190
1,944
1,702
+12.7%
10-K for the year ended 31 December 2011, filed 21 February 2012: the filing.