Centene (CNC) FY2023 results: revenue $154.0 billion, up 6.5% on the year
Centene Corp. (CNC) reported revenue of $154.0 billion for fiscal 2023, the year ended 31 December 2023, up 6.5% on the year before. Net income was $2.7 billion, up 124.8%, and diluted earnings per share $4.95. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.
Revenue
$154.0 billion
+6.5% on the year
FY2016FY2023
Operating margin
1.9%
0.9% a year earlier
FY2016FY2023
Net income
$2.7 billion
+124.8% on the year
FY2016FY2023
Diluted EPS
$4.95
+139.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
8,053
6,261
4,205
+28.6%
Capital expenditure
799
1,004
910
-20.4%
Free cash flow
7,254
5,257
3,295
+38.0%
Free cash flow margin
4.7%
3.6%
2.6%
Cash from investing
-1,191
-2,921
-3,299
Cash from financing
-1,658
-4,197
1,362
Depreciation and amortisation
1,293
1,430
1,335
-9.6%
Share-based compensation
216
234
203
-7.7%
Buybacks
1,633
3,096
297
-47.3%
Diluted shares, weighted
546m
582m
591m
-6.2%
Shares outstanding at period end
534m
551m
582m
-3.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
25,840
24,057
26,795
+7.4%
Non-controlling interest
97.0
124
145
-21.8%
Redeemable equity
19.0
56.0
82.0
-66.1%
Debt
17,962
18,179
19,026
-1.2%
Operating lease liabilities
880
3,133
3,619
-71.9%
Other liabilities
39,843
31,321
28,708
+27.2%
Total liabilities and equity
84,641
76,870
78,375
+10.1%
Fixed assets
2,019
2,432
3,391
-17.0%
Goodwill
17,558
18,812
19,771
-6.7%
Intangible assets
6,101
6,911
7,824
-11.7%
Investments
18,745
17,005
15,582
+10.2%
Cash and equivalents
17,193
12,074
13,118
+42.4%
Other assets
23,025
19,636
18,689
+17.3%
Total assets
84,641
76,870
78,375
+10.1%
10-K for the year ended 31 December 2023, filed 20 February 2024: the filing.