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Centene Income Statement

Revenue, expenses, and profitability over time

Centene generated $198.10B in trailing twelve-month revenue, up 0.2% year-over-year. Net income was -$6.4B with a -3.25% net margin. Gross margin stands at 98.65% and operating margin at -3.68%. Diluted EPS is $-13.14, which declined 2.9% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$198.10BGross Profit (TTM)$195.43BOperating Income (TTM)-$7.3BNet Income (TTM)-$6.4BEps Diluted (TTM)$-13.14
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$31.4B
ROE-26.12%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$173M$173M$173M$170M$169M$166M
Policyholder Benefits And Claims Incurred Net$31.8B$36.5B$38.8B$40.9B$41.5B$38.3B
Premium tax expense$4.6B$4.2B$6.3B$4.9B$5.1B$5.4B
Selling, general and administrative$3.2B$3.4B$3B$3.1B$3.4B$3.4B
Total operating expenses$40.6B$45.1B$49.2B$56.6B$51.5B$48.1B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.62$2.64$-0.51$-13.50$-2.24$3.13
Diluted earnings per share$0.62$2.63$-0.51$-13.50$-2.24$3.11
Weighted-average shares, basic521.8M496.2M493.5M491.1M493.1M492.1M
Weighted-average shares, diluted523.7M498.2M493.5M491.1M493.1M495.6M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (loss) on extinguishment of debt$0$0———-$5M
Interest expense$172M$170M$170M$170M$168M$164M
Debt extinguishment$0$0———-$5M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$40.1B$45.9B$48.1B$49B$49B$49.2B
Operating income$175M$1.5B-$458M-$7B-$1.7B$1.9B

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$347M$1.7B-$257M-$6.7B-$1.5B$2.1B

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$67M$432M$2M-$42M-$443M$560M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$283M$1.3B-$253M-$6.6B-$1.1B$1.5B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of capitalized software and acquired intangible assets$173M$173M$173M$170M$169M$166M
Depreciation$141M$142M$141M$147M$160M$134M
Investment and other (expense) income, net$344M$382M$371M$450M$369M$407M
Revenue From Contract With Customer Excluding Assessed Tax$36.3B$42.5B$42.5B$44.9B$44.7B$44.7B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Premium tax$4.5B$4.1B$6.3B$4.8B$5B$5.3B
Total revenue$40.8B$46.6B$48.7B$49.7B$49.7B$49.9B

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$688M$698M$641M$651M$680M$702M