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Centene CNC Commercial — Medical claims liability

Other segment segments

Medicaid
$11.42B+1.1%
Medicare
$4.07B+8.5%
Other
$29M-83.6%

Similar metrics at other companies

UnitedHealth Group logo
UNHLiability for Claims and Claims Adjustment Expense
$39.66B+6.8%
CNA Financial logo
CNACommercial — Claim and claim adjustment expenses
$12.67B+8.2%
CNA Financial logo
CNACommercial — Total net liability for unpaid claim and claim adjustment expenses
$10.7B+7.6%
United Fire Group logo
UFCSCommercial other liability — Total of incurred but not reported liabilities plus expected development on reported claims
$186.01M+7.1%
Molina Healthcare logo
MOHMedicaid — Liability for Claims and Claims Adjustment Expense
$3.82B+7.2%
The Hanover Insurance Group logo
THGCore Commercial Lines — Liability For Claims And Claims Adjustment Expense
$3.86B+6.9%

Other financials

Income statement

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Revenue$49.9B+7.1%
Gross profit$49.2B+7.2%
Operating income$1.9B+21.3%
Net income$1.5B+17.5%
EPS (diluted)$3.11+18.3%

Balance sheet

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Cash & equivalents$21.3B+43.5%
Total debt$16.4B-10.6%
Total equity$21.4B-23.2%
Total assets$81.2B-6.7%

Cash flow

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Operating cash flow$4.4B+189%
CapEx$200.0M+48.1%
Free cash flow$4.2B+203%

Valuation

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Market cap$32.46B+20.7%
Enterprise value$27.56B-8.0%
P/S0.2×0.0×

Profitability

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Gross margin98.7%+0.3pp
Operating margin-3.7%-5.8pp
Net margin-3.3%-5.3pp
FCF margin3.6%+2.7pp

Returns & leverage

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Return on equity-26.1%-38.7pp
Debt / equity0.8×+0.1×
Current ratio1.1×0.0×

Where this comes from

Reported directly by Centene in its filing.

Tagged under the XBRL concept us-gaap:LiabilityForClaimsAndClaimsAdjustmentExpense.

The official record: Centene’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Centene's commercial — medical claims liability?
Centene (CNC) reported commercial — medical claims liability of $5.12B in Q1 2026.
How has Centene's commercial — medical claims liability changed year-over-year?
Centene's commercial — medical claims liability increased by 9.1% year-over-year, from $4.69B to $5.12B.
What is the long-term trend for Centene's commercial — medical claims liability?
Over 3 years (2022 to 2025), Centene's commercial — medical claims liability has grown at a 41.0% compound annual growth rate (CAGR), from $7.54B to $21.12B.
What does commercial — medical claims liability mean?
This represents the total estimated financial obligation for medical services provided to members that have been incurred but not yet paid or fully processed. It is a critical reserve balance that reflects the company's actuarial estimate of future cash outflows for healthcare services already delivered.