Centene (CNC) FY2012 results: revenue $8.1 billion, up 55.6% on the year
Centene Corp. (CNC) reported revenue of $8.1 billion for fiscal 2012, the year ended 31 December 2012, up 55.6% on the year before. Net income was $2 million, down 98.2%, and diluted earnings per share $0.01. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2013.
Revenue
$8.1 billion
+55.6% on the year
FY2008FY2012
Operating margin
1.3%
3.9% a year earlier
FY2008FY2012
Net income
$2 million
-98.2% on the year
FY2008FY2012
Diluted EPS
$0.01
-98.6% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
8,110
5,211
4,448
+55.6%
Cost of revenue
88.0
78.1
63.9
+12.7%
Gross profit
8,022
5,133
4,384
+56.3%
Gross margin
98.9%
98.5%
98.6%
Operating income
108
204
157
-47.0%
Operating margin
1.3%
3.9%
3.5%
Interest expense
20.0
20.3
18.0
-1.6%
Pre-tax income
123
188
154
-34.7%
Income tax
47.0
70.7
59.9
-33.5%
Effective tax rate
38.2%
37.5%
38.8%
Net income
2.0
111
94.8
-98.2%
Net margin
0.0%
2.1%
2.1%
Diluted EPS
$0.01
$0.53
$0.47
-98.6%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
279
262
169
+6.5%
Capital expenditure
82.1
73.7
119
+11.4%
Free cash flow
197
188
50.4
+4.6%
Free cash flow margin
2.4%
3.6%
1.1%
Cash from investing
-188
-129
-211
Cash from financing
179
6.9
72.1
+2,489.7%
Depreciation and amortisation
66.0
58.3
52.0
+13.2%
Share-based compensation
25.0
18.2
13.9
+37.6%
Buybacks
13.0
7.8
3.2
+66.5%
Diluted shares, weighted
215m
210m
202m
+2.4%
Shares outstanding at period end
209m
203m
198m
+2.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
953
936
794
+1.9%
Non-controlling interest
0.7
0.8
3.1
-9.4%
Debt
539
352
331
+53.3%
Other liabilities
1,281
902
816
+42.0%
Total liabilities and equity
2,774
2,190
1,944
+26.6%
Fixed assets
376
350
326
+7.5%
Goodwill
256
282
278
-9.1%
Intangible assets
20.3
27.4
29.1
-26.1%
Investments
693
637
617
+8.8%
Cash and equivalents
746
574
434
+30.0%
Other assets
683
321
259
+112.7%
Total assets
2,774
2,190
1,944
+26.6%
10-K for the year ended 31 December 2012, filed 19 February 2013: the filing.