Centene Corporation
Financial Performance
Centene Revenue & Financials
Revenue
$194.8B (FY2025)
Market Cap
$30.5B
Employees
61,100
What is Centene's revenue?
Centene had $194.8B in revenue for fiscal year 2025, up 19.4% from 2024.
- Latest revenue
- $194.8B (FY2025)
- Year-over-year
- +19.4%
- Growth rate (CAGR)
- 19% over 9 years
- Peak revenue
- $194.8B (FY2025)
- Years of data
- 10
- Employees
- 61,100
- What is Centene's operating income?
- Centene reported an operating loss of $7.6B for fiscal year 2025. sec.gov
- How many employees does Centene have?
- Centene has about 61,100 employees.
Financial Analysis
Centene's revenue grew from $144.5 billion in 2022 to $194.8 billion in 2025, but profit moved the other way. FY2025 ended with a $6.674 billion GAAP net loss attributable to Centene, compared with $3.3 billion of net income in 2024, after a $6.7 billion non-cash goodwill impairment recorded in Q3 2025; adjusted diluted EPS was $2.08. The turnaround showed up in 2026: Q2 2026 total revenue was $53.6 billion, premium and service revenue was $44.4 billion, GAAP diluted EPS was $2.19 and adjusted diluted EPS was $2.51. Centene raised its 2026 guidance to GAAP diluted EPS above $3.11 and adjusted diluted EPS above $4.80, with premium and service revenue guided to $173-$177 billion. The company does not pay a dividend. Centene Corporation is a colossal managed care enterprise, maintaining a strong market valuation frequently exceeding $40 billion.
Revenue Trend Analysis
YoY Change
+19.4%
9-Year CAGR
+19%
Peak Year
2025
Trend
Consistent Growth
Centene Corporation has 10 full fiscal year figures on this page, compounding at +19% annually over 9 years. The most recent year saw a 19.4% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $194.8B. Of 9 comparable year-over-year steps, 9 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $194.8B | -$7.6Bfiling | — | +19.4% | data.sec.gov FY2025 revenue reached $194.777 billion, up 19% year over year, while a $6.7 billion goodwill impairment produced a GAAP net loss attributable to Centene of $6.674 billion. |
| FY2024 | $163.1B | $3.2Bfiling | — | +5.9% | data.sec.gov FY2024 revenue increased to $163.071 billion. |
| FY2023 | $154B | $2.9Bfiling | — | +6.5% | data.sec.gov FY2023 revenue rose to $153.999 billion. |
| FY2022 | $144.5B | $1.3Bfiling | — | +14.7% | data.sec.gov FY2022 revenue was $144.547 billion as Centene continued scaling government-sponsored managed care. |
| FY2021 | $126B | $1.8B | $1.3B | +13.4% | Centene Corporation annual report (Form 10-K, SEC EDGAR, filed 2024-02-20) Fiscal year ended 2021-12-31. |
| FY2020 | $111.1B | $3.1B | $1.8B | +48.9% | Centene Corporation annual report (Form 10-K, SEC EDGAR, filed 2023-02-21) Fiscal year ended 2020-12-31. |
| FY2019 | $74.6B | $1.8B | $1.3B | +24.2% | Centene Corporation annual report (Form 10-K, SEC EDGAR, filed 2022-02-22) Fiscal year ended 2019-12-31. |
| FY2018 | $60.1B | $1.5B | $900M | +24.3% | Centene Corporation annual report (Form 10-K, SEC EDGAR, filed 2021-02-22) Fiscal year ended 2018-12-31. |
| FY2017 | $48.4B | $1.2B | $828M | +19.1% | Centene Corporation annual report (Form 10-K, SEC EDGAR, filed 2020-02-18) Fiscal year ended 2017-12-31. |
| FY2016 | $40.6B | $1.3B | $562M | — | Centene Corporation annual report (Form 10-K, SEC EDGAR, filed 2019-02-19) Fiscal year ended 2016-12-31. |
Click any row to see year details.
Centene Corporation balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $5.1B | $767M | $76.7B | $56.7B | $20B | $4.3B | Form 10-K |
| FY2024ended Dec 31, 2024 | $154M | $644M | $82.4B | $55.9B | $26.4B | -$490M | Form 10-K |
| FY2023ended Dec 31, 2023 | $8.1B | $799M | $84.6B | $58.7B | $25.8B | $7.3B | Form 10-K |
| FY2022ended Dec 31, 2022 | $6.3B | $1B | $76.9B | $52.6B | $24.1B | $5.3B | Form 10-K |
| FY2021ended Dec 31, 2021 | $4.2B | $910M | $78.4B | $51.4B | $26.8B | $3.3B | Form 10-K |
| FY2020ended Dec 31, 2020 | $5.5B | $869M | $68.7B | $42.8B | $25.8B | $4.6B | Form 10-K |
| FY2019ended Dec 31, 2019 | $1.5B | $730M | $41B | $28.3B | $12.6B | $753M | Form 10-K |
| FY2018ended Dec 31, 2018 | $1.2B | $675M | $30.9B | $19.9B | $10.9B | $559M | Form 10-K |
| FY2017ended Dec 31, 2017 | $1.5B | $422M | $21.9B | $15B | $6.8B | $1.1B | Form 10-K |
| FY2016ended Dec 31, 2016 | $1.9B | $306M | $20.2B | $14.1B | $5.9B | $1.5B | Form 10-K |
Keep researching Centene
Centene Revenue and Financial FAQ
What was Centene's total annual revenue in recent fiscal years?
Centene reported revenue of $144.5 billion in 2022, $154.0 billion in 2023, $163.1 billion in 2024 and $194.8 billion in 2025.
Is Centene profitable?
Centene lost $6.674 billion on a GAAP basis in FY2025 but returned to profit in 2026, earning about $1.1 billion in Q2 2026 with GAAP diluted EPS of $2.19.
What caused Centene's 2025 net loss?
The main cause was a $6.7 billion non-cash goodwill impairment recorded in Q3 2025, linked to the One Big Beautiful Bill Act and a decline in Centene's stock price. Marketplace risk-adjustment shortfalls and higher Medicaid costs also cut earnings.
What is Centene's 2026 guidance?
After Q2 2026, Centene raised its 2026 guidance to GAAP diluted EPS above $3.11 and adjusted diluted EPS above $4.80, with premium and service revenue of $173-$177 billion.
What were Centene's Q2 2026 results?
For the quarter ended June 30, 2026, Centene reported total revenue of $53.6 billion, premium and service revenue of $44.4 billion, an HBR of 89.6%, adjusted diluted EPS of $2.51 and operating cash flow of $3.59 billion.
Does Centene pay a dividend?
No. Centene does not pay a cash dividend on its common stock and has historically returned capital through share repurchases.
What is Centene's market capitalization?
Centene's market capitalization was about $30.5 billion as of September 25, 2026, roughly 79% higher than a year earlier after the stock recovered from its 2025 low.
How did Medicaid redeterminations affect Centene?
The restart of Medicaid eligibility checks in 2023-2024 reduced Medicaid membership and left a sicker remaining member mix, pushing up costs. Centene's Medicaid membership fell from 12.8 million to 12.1 million between June 2025 and June 2026.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Centene Revenue & Financials." CorpDigest, https://corpdigest.com/company/centene/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Centene reported $194.8B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/centene/financials" target="_blank" rel="noopener">CorpDigest — Centene financials</a></div>Related Financial Audits
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