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Centene CNC Operating margin

Operating margin at other companies

Humana logo
HumanaHUM
2.7%-1.7pp
CVS Health logo
CVS HealthCVS
1.5%-1.1pp
UnitedHealth Group logo
UnitedHealth GroupUNH
4.2%-4.0pp
Cencora logo
CencoraCOR
0.8%0.0pp
Cigna logo
CignaCI
3.4%-0.1pp
SS&C Technologies logo
SS&C TechnologiesSSNC
23.1%+0.1pp

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+48.2%
Free cash flow$4.2B+203%

Valuation

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Market cap$29.94B-46.5%
Enterprise value$25.05B-66.7%
P/S0.2×-0.2×

Profitability

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Gross margin98.7%+0.3pp
Net margin-3.3%-5.3pp

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

Calculated from Centene’s reported figures.

Based on trailing twelve months.

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 operating margin?
Centene (CNC) reported operating margin of -3.7% in Q1 2026.
How has Centene's operating margin changed year-over-year?
Centene's operating margin decreased by 273.0% year-over-year, from 2.1% to -3.7%.
What is the long-term trend for Centene's operating margin?
Over 2 years (2021 to 2025), Centene's operating margin has grown at a -27.1% compound annual growth rate (CAGR), from 7.1% to -3.8%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.