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Centene CNC Q4 2025 Annual earnings

Reported February 6, 2026 · Before market open

Revenue$49.7BBeat by $1.3B
EPS-$1.19Beat by $0.03
Revenue estimate$48.4B
EPS estimate-$1.22

Next report

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

Financials

Q4 2025

Income statement

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Revenue$49.7B+21.9%
Gross profit$49.0B+22.3%
Operating income-$1.7B-1,097%
Net income-$1.1B-489%
EPS (diluted)-$2.24-461%

Balance sheet

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Cash & equivalents$17.9B+27.2%
Total debt$18.2B-6.5%
Total equity$20.0B-24.4%
Total assets$76.7B-6.9%

Cash flow

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Operating cash flow$437.0M—
CapEx$213.0M+38.3%
Free cash flow$224.0M+130%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$20.23B-33.9%
Enterprise value$20.5B-43.0%
P/S0.1×-0.1×

Profitability

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Gross margin98.6%+0.3pp
Operating margin-3.9%-5.9pp
Net margin-3.4%-5.5pp
FCF margin2.2%+2.0pp

Returns & leverage

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Return on equity-28.8%-41.4pp
Debt / equity0.9×+0.2×
Current ratio1.1×0.0×

Segments

By segment

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Medicaid$28.0B+10.7%
Commercial$10.8B+23.7%
Medicare$9.6B+75.5%
Other$1.3B+0.6%

By product

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Premium and service revenues$44.7B+23.2%
Premium$44.0B+23.8%
Service$749.0M-3.6%

FAQ

When did Centene report Q4 2025 earnings?
Centene (CNC) reported Q4 2025 earnings on February 6, 2026 before market open.
What were Centene's Q4 2025 revenue and EPS?
Centene reported revenue of $49.7B and eps of $-1.19 for Q4 2025.
Did Centene beat estimates in Q4 2025?
Revenue beat the consensus estimate of $48.4B by $1.3B. EPS beat the consensus estimate of $-1.22 by $0.03.
How did Centene's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 21.9% from $40.8B a year earlier.
Where can I find Centene's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001071739-26-000031) and the 10-K periodic report (0001071739-26-000049) directly on SEC EDGAR. The filing index links above go to sec.gov.