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Centene CNC Medicare — Medical costs

Other segment segments

Medicaid
$21.96B+5.3%
Commercial
$7.2B-5.4%
Other
$378M-24.1%

Similar metrics at other companies

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MOHMedicare — Medical care costs
$1.36B+5.2%
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ELVMedical costs
$35.62B+0.9%
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MOHMedicare — Current year
$1.43B+6.1%
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MOHMedicare — Segment Expenses
$1.36B+5.2%
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CBMedical costs
$6.13B-11.1%
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MOHMedicaid — Medical care costs
$7.3B-0.6%

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:PolicyholderBenefitsAndClaimsIncurredNet.

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 medicare — medical costs?
Centene (CNC) reported medicare — medical costs of $8.77B in Q1 2026.
How has Centene's medicare — medical costs changed year-over-year?
Centene's medicare — medical costs increased by 16.1% year-over-year, from $7.56B to $8.77B.
What is the long-term trend for Centene's medicare — medical costs?
Over 4 years (2021 to 2025), Centene's medicare — medical costs has grown at a 22.4% compound annual growth rate (CAGR), from $15.25B to $34.23B.
What does medicare — medical costs mean?
Reflects the direct costs incurred for medical services provided to members enrolled in Medicare plans, including hospital stays, physician visits, and pharmacy benefits. This is the primary operating expense for the segment and is critical for calculating the medical loss ratio (MLR).