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Centene CNC Q2 2025 earnings

Reported July 25, 2025 · Before market open

Revenue$48.7BBeat by $4.6B
EPS-$0.16Miss by $0.27
Revenue estimate$44.1B
EPS estimate$0.11

Next report

Oct 27, 2026 (in 2 months)
Revenue estimate$47.1B
EPS estimate$0.07

Financials

Q2 2025

Income statement

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Revenue$48.7B+22.4%
Gross profit$48.1B+22.8%
Operating income-$458.0M-137%
Net income-$253.0M-122%
EPS (diluted)-$0.51-124%

Balance sheet

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Cash & equivalents$14.5B-17.6%
Total debt$17.6B-0.3%
Total equity$27.4B+0.2%
Total assets$86.4B+3.9%

Cash flow

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Operating cash flow$1.8B-17.9%
CapEx$208.0M+11.8%
Free cash flow$1.6B-20.7%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$26.9B-24.0%
Enterprise value$29.96B-15.4%
P/E13.1×+0.6×
P/S0.2×-0.1×

Profitability

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Gross margin98.5%+0.5pp
Operating margin1.1%-0.9pp
Net margin1.2%-0.6pp
FCF margin0.6%-0.8pp

Returns & leverage

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Return on equity7.5%-3.1pp
Debt / equity0.6×0.0×
Current ratio1.1×-0.1×

Segments

By segment

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Medicaid$28.0B+16.1%
Commercial$10.1B+18.0%
Medicare$9.5B+58.1%
Other$1.2B+1.2%

By product

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Premium and service revenues$42.5B+18.1%
Premium$41.7B+18.8%
Service$727.0M-12.7%

FAQ

When did Centene report Q2 2025 earnings?
Centene (CNC) reported Q2 2025 earnings on July 25, 2025 before market open.
What were Centene's Q2 2025 revenue and EPS?
Centene reported revenue of $48.7B and eps of $-0.16 for Q2 2025.
Did Centene beat estimates in Q2 2025?
Revenue beat the consensus estimate of $44.1B by $4.6B. EPS missed the consensus estimate of $0.11 by $0.27.
How did Centene's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 22.4% from $39.8B a year earlier.
Where can I find Centene's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001071739-25-000151) and the 10-Q periodic report (0001071739-25-000150) directly on SEC EDGAR. The filing index links above go to sec.gov.