Centene CNC Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues by Business | ||||||
| Commercial | $9.56B-5.8% | $10.79B+23.7% | $10.99B+26.4% | $10.07B+18.0% | $10.15B+30.9% | |
| Medicaid | $28.89B+9.3% | $28.04B+10.7% | $27.96B+5.8% | $28B+16.1% | $26.43B+3.5% | |
| Medicare | $10.33B+17.9% | $9.61B+75.5% | $9.39B+66.4% | $9.45B+58.1% | $8.76B+47.6% | |
| Other | $4.15B-0.4% | $4.53B+2.3% | $4.19B-2.2% | $3.97B-2.8% | $4.16B+2.1% | |
| Revenue from Contract with Customer, Including Assessed Tax by Business | ||||||
| Commercial | $9.56B-5.8% | $10.79B+23.7% | $10.99B+26.4% | $10.07B+18.0% | $10.15B+30.9% | |
| Medicaid | $28.89B+9.3% | $28.04B+10.7% | $27.96B+5.8% | $28B+16.1% | $26.43B+3.5% | |
| Medicare | $10.33B+17.9% | $9.61B+75.5% | $9.39B+66.4% | $9.45B+58.1% | $8.76B+47.6% | |
| Other | $1.18B-8.2% | $1.28B+0.6% | $1.34B+7.8% | $1.22B+1.2% | $1.28B+7.6% | |
| Segment gross margin by Business | ||||||
| Commercial | $2.36B-7.2% | $497M-68.7% | $1.12B-35.7% | $946M-58.3% | $2.54B+22.7% | |
| Medicaid | $1.62B+13.0% | $1.61B+17.8% | $1.53B+3.9% | $1.12B-23.5% | $1.43B-26.3% | |
| Medicare | $1.55B+29.1% | $378M-48.1% | $538M-20.3% | $863M+33.8% | $1.2B+121% | |
| Other | $120M+9.1% | $74M-35.7% | $159M+32.5% | $92M-40.6% | $110M-37.1% | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Net by Business | ||||||
| Commercial | $5.05B+8.7% | $5.62B+27.3% | $5.57B+38.4% | $5.08B+31.7% | $4.64B+22.7% | |
| Medicaid | $11.4B+1.1% | $10.36B+0.8% | $11.33B+11.6% | $10.43B-0.3% | $11.28B+7.5% | |
| Medicare | $4.07B+8.5% | $4.4B+31.1% | $4.35B+21.4% | $4.39B+19.3% | $3.75B+1.7% | |
| Other | $29M-83.6% | $85M-54.8% | $174M-1.7% | $162M+29.6% | $177M+52.6% | |
| Medical costs by Business | ||||||
| Commercial | $7.2B-5.4% | $10.3B+44.3% | $9.88B+42.0% | $9.12B+45.6% | $7.61B+33.9% | |
| Medicaid | $21.96B+5.3% | $21.41B+10.2% | $21.61B+9.1% | $20.58B+9.7% | $20.84B+6.9% | |
| Medicare | $8.77B+16.1% | $9.23B+94.5% | $8.85B+78.2% | $8.59B+61.0% | $7.56B+40.2% | |
| Other | $378M-24.1% | $550M+11.8% | $559M+22.1% | $516M+30.0% | $498M+35.3% | |
| Cost of Services by Business | ||||||
| Commercial | $0— | $0— | $0— | $0— | $0— | |
| Medicaid | $23M-4.2% | $24M+4.3% | $25M+8.7% | $25M+13.6% | $24M+14.3% | |
| Medicare | $0— | $0— | $0— | $0— | $0— | |
| Other | $679M+0.7% | $656M-1.4% | $626M-6.4% | $616M-6.4% | $674M+4.0% | |
| Premium tax by Business | ||||||
| Commercial | $0— | $0— | $0— | $0— | $0— | |
| Medicaid | $5.29B+28.0% | $5B+10.8% | $4.79B-6.5% | $6.28B+62.4% | $4.13B+1.5% | |
| Medicare | $0— | $0— | $0— | $0— | $0— | |
| Other | $0— | $0— | $0— | $0— | $0— | |
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments by Business | ||||||
| Commercial | $68M+47.8% | $60M+27.7% | $56M+33.3% | $46M+7.0% | $46M+43.8% | |
| Medicaid | $14M-22.2% | $16M-11.1% | $17M-15.0% | $14M-6.7% | $18M+350% | |
| Current year by Business | ||||||
| Commercial | $4.52B-4.4% | $10.01B+47.8% | $9.21B+39.0% | $8.26B+42.2% | $4.73B+41.7% | |
| Medicaid | $14.09B+8.4% | $22.11B+15.4% | $20.23B+3.7% | $20.54B+14.9% | $13B+1.3% | |
| Medicare | $6.4B+22.0% | $9.11B+81.1% | $8.69B+76.8% | $7.62B+57.8% | $5.24B+60.5% | |
| Other | $358M-0.3% | $529M+9.8% | $544M+33.7% | $523M+39.5% | $359M+39.1% | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims by Business | ||||||
| Commercial | $7.2B-5.4% | $10.3B+44.3% | $9.88B+42.0% | $9.12B+45.6% | $7.61B+33.9% | |
| Medicaid | $21.96B+5.3% | $21.41B+10.2% | $21.61B+9.1% | $20.58B+9.7% | $20.84B+6.9% | |
| Medicare | $8.77B+18.9% | $9.51B+94.2% | $8.96B+77.1% | $8.47B+59.8% | $7.38B+38.2% | |
| Other | $378M-24.1% | $550M+11.8% | $559M+22.1% | $516M+30.0% | $498M+35.3% | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid by Business | ||||||
| Commercial | $7.77B+5.3% | $10.24B+51.9% | $9.38B+38.2% | $8.69B+40.2% | $7.38B+38.9% | |
| Medicaid | $20.91B+5.4% | $22.38B+15.9% | $20.72B+2.9% | $21.43B+14.0% | $19.85B+0.1% | |
| Medicare | $9.11B+27.1% | $9.18B+84.6% | $8.9B+75.7% | $7.94B+48.8% | $7.17B+34.8% | |
| Other | $434M-14.7% | $530M+10.2% | $547M+34.7% | $531M+36.9% | $509M+39.1% | |
| Medical claims liability by Business | ||||||
| Commercial | $5.12B+9.1% | $5.68B+27.3% | $5.63B+38.4% | $5.12B+31.5% | $4.69B+22.9% | |
| Medicaid | $11.42B+1.1% | $10.38B+0.7% | $11.34B+11.6% | $10.44B-0.3% | $11.3B+7.7% | |
| Medicare | $4.07B+8.5% | $4.4B+31.1% | $4.35B+21.4% | $4.39B+19.3% | $3.75B+1.7% | |
| Other | $29M-83.6% | $85M-54.8% | $174M-1.7% | $162M+29.6% | $177M+52.6% | |
| Prior years by Business | ||||||
| Commercial | $3.25B+22.8% | $232M— | $167M+7.1% | $435M+10.4% | $2.65B+34.2% | |
| Medicaid | $6.82B-0.4% | $271M+80.7% | $484M-22.6% | $896M-3.1% | $6.85B-2.1% | |
| Medicare | $2.71B+40.9% | $72M— | $209M+38.4% | $329M-35.7% | $1.92B-6.2% | |
| Other | $76M-49.3% | $1M— | $3M— | $8M-38.5% | $150M+38.9% | |
| Premium and service revenues by Product | ||||||
| Premium and service revenues | $44.66B+5.1% | $44.73B+23.2% | $44.9B+21.7% | $42.47B+18.1% | $42.49B+16.9% | |
| Premium | $43.89B+5.2% | $43.98B+23.8% | $44.13B+22.2% | $41.74B+18.8% | $41.71B+17.4% | |
| Service | $768M-1.2% | $749M-3.6% | $772M-1.5% | $727M-12.7% | $777M-3.8% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Centene break its business down?
- Centene (CNC) reports total revenues by business across 4 parts — Commercial, Medicaid, Medicare and Other. Each is extracted from the segment footnotes and tracked over time.
- Where does Centene's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Centene's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
