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Centene CNC Medicare — Segment gross margin

Other segment segments

Commercial
$2.36B-7.2%
Medicaid
$1.62B+13.0%
Other
$120M+9.1%

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AVAHMedical Solutions — Gross Profit
$20.42M+12.6%

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:GrossProfit.

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 — segment gross margin?
Centene (CNC) reported medicare — segment gross margin of $1.55B in Q1 2026.
How has Centene's medicare — segment gross margin changed year-over-year?
Centene's medicare — segment gross margin increased by 29.1% year-over-year, from $1.2B to $1.55B.
What is the long-term trend for Centene's medicare — segment gross margin?
Over 4 years (2021 to 2025), Centene's medicare — segment gross margin has grown at a 7.1% compound annual growth rate (CAGR), from $2.27B to $2.98B.
What does medicare — segment gross margin mean?
Calculated as the difference between Medicare segment revenues and the direct medical costs incurred to provide care. This metric measures the fundamental profitability of the Medicare insurance product before accounting for corporate overhead and administrative expenses.