Centene (CNC) FY2016 results: revenue $40.6 billion, up 78.4% on the year
Centene Corp. (CNC) reported revenue of $40.6 billion for fiscal 2016, the year ended 31 December 2016, up 78.4% on the year before. Net income was $562 million, up 58.3%, and diluted earnings per share $1.72. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$40.6 billion
+78.4% on the year
FY2009FY2016
Operating margin
3.1%
3.1% a year earlier
FY2009FY2016
Net income
$562 million
+58.3% on the year
FY2009FY2016
Diluted EPS
$1.72
+19.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
40,607
22,760
16,560
+78.4%
Cost of revenue
1,864
1,621
1,280
+15.0%
Gross profit
38,743
21,139
15,280
+83.3%
Gross margin
95.4%
92.9%
92.3%
Selling, general and administrative
3,676
1,802
1,298
+104.0%
Operating income
1,263
705
464
+79.1%
Operating margin
3.1%
3.1%
2.8%
Interest expense
217
43.0
35.0
+404.7%
Pre-tax income
1,160
697
457
+66.4%
Income tax
599
339
196
+76.7%
Effective tax rate
51.6%
48.6%
42.9%
Net income
562
355
271
+58.3%
Net margin
1.4%
1.6%
1.6%
Diluted EPS
$1.72
$1.44
$1.12
+19.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,851
658
1,223
+181.3%
Capital expenditure
306
150
103
+104.0%
Free cash flow
1,545
508
1,120
+204.1%
Free cash flow margin
3.8%
2.2%
6.8%
Cash from investing
-2,469
-813
-848
Cash from financing
2,717
305
198
+790.8%
Depreciation and amortisation
278
111
89.0
+150.5%
Share-based compensation
148
71.0
48.0
+108.5%
Buybacks
63.0
53.0
29.0
+18.9%
Diluted shares, weighted
328m
246m
241m
+33.2%
Shares outstanding at period end
344m
241m
237m
+42.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,895
2,157
1,744
+173.3%
Non-controlling interest
14.0
11.0
-1.0
+27.3%
Redeemable equity
145
156
148
-7.1%
Debt
4,782
1,223
878
+291.0%
Other liabilities
9,361
3,792
3,055
+146.9%
Total liabilities and equity
20,197
7,339
5,824
+175.2%
Fixed assets
797
518
445
+53.9%
Goodwill
4,712
842
754
+459.6%
Intangible assets
1,545
155
120
+896.8%
Investments
5,050
2,103
1,457
+140.1%
Cash and equivalents
3,930
1,760
1,610
+123.3%
Other assets
4,163
1,961
1,438
+112.3%
Total assets
20,197
7,339
5,824
+175.2%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.