Centene CNC Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues by Business | ||||||
| Commercial | $41.41B+14.7% | $42B+24.6% | $39.93B+23.3% | $37.64B+24.8% | $36.1B+32.0% | |
| Medicaid | $112.89B+10.3% | $110.43B+8.9% | $107.73B+6.3% | $106.2B+6.7% | $102.32B+2.2% | |
| Medicare | $38.78B+50.0% | $37.21B+61.6% | $33.08B+44.8% | $29.33B+29.6% | $25.86B+15.8% | |
| Other | $16.84B-0.7% | $16.85B-0.1% | $16.75B-4.6% | $16.85B-2.3% | $16.96B+0.1% | |
| Revenue from Contract with Customer, Including Assessed Tax by Business | ||||||
| Commercial | $41.41B+14.7% | $42B+24.6% | $39.93B+23.3% | $37.64B+24.8% | $36.1B+32.0% | |
| Medicaid | $112.89B+10.3% | $110.43B+8.9% | $107.73B+6.3% | $106.2B+6.7% | $102.32B+2.2% | |
| Medicare | $38.78B+50.0% | $37.21B+61.6% | $33.08B+44.8% | $29.33B+29.6% | $25.86B+15.8% | |
| Other | $5.03B+0.3% | $5.13B+4.3% | $5.12B-1.0% | $5.03B-6.8% | $5.01B-12.5% | |
| Segment gross margin by Business | ||||||
| Commercial | $4.92B-39.6% | $5.1B-33.4% | $6.19B-16.3% | $6.81B-3.1% | $8.13B+39.0% | |
| Medicaid | $5.88B+2.5% | $5.69B-8.9% | $5.45B-20.6% | $5.39B-27.1% | $5.73B-31.5% | |
| Medicare | $3.33B+2.5% | $2.98B+15.0% | $3.33B+57.6% | $3.47B+44.1% | $3.25B+27.8% | |
| Other | $445M-11.0% | $435M-23.0% | $476M-25.3% | $437M-45.7% | $500M-47.9% | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Net by Business | ||||||
| Commercial | $21.32B+25.9% | $20.92B+30.1% | $19.71B+30.7% | $18.16B+32.2% | $16.94B+36.5% | |
| Medicaid | $43.52B+3.2% | $43.39B+4.9% | $43.31B+3.4% | $42.14B-1.5% | $42.17B-2.7% | |
| Medicare | $17.21B+19.8% | $16.89B+18.0% | $15.84B+8.8% | $15.08B+5.9% | $14.37B+4.1% | |
| Other | $450M-32.5% | $598M-1.3% | $701M+31.8% | $704M+50.7% | $667M+45.0% | |
| Medical costs by Business | ||||||
| Commercial | $36.49B+30.5% | $36.9B+41.7% | $33.74B+35.1% | $30.82B+33.3% | $27.97B+30.1% | |
| Medicaid | $85.56B+8.5% | $84.45B+8.9% | $82.47B+6.8% | $80.68B+4.8% | $78.86B+1.5% | |
| Medicare | $35.44B+56.8% | $34.23B+67.5% | $29.74B+43.5% | $25.86B+27.9% | $22.6B+14.3% | |
| Other | $2B+8.6% | $2.12B+23.8% | $2.07B+28.7% | $1.96B+33.8% | $1.85B+28.9% | |
| Cost of Services by Business | ||||||
| Commercial | $0— | $0— | $0— | $0— | $0— | |
| Medicaid | $97M+5.4% | $98M+10.1% | $97M+42.6% | $95M+111% | $92M+268% | |
| Medicare | $0— | $0— | $0— | $0— | $0— | |
| Other | $2.58B-3.3% | $2.57B-2.6% | $2.58B-12.0% | $2.62B-15.9% | $2.67B-20.1% | |
| Premium tax by Business | ||||||
| Commercial | $0— | $0— | $0— | $0— | $0— | |
| Medicaid | $21.35B+21.1% | $20.2B+15.0% | $19.71B+14.7% | $20.04B+32.4% | $17.63B+25.6% | |
| Medicare | $0— | $0— | $0— | $0— | $0— | |
| Other | $0— | $0— | $0— | $0— | $0— | |
| Reinsurance Recoverable for Unpaid Claims and Claims Adjustments by Business | ||||||
| Commercial | $230M+29.2% | $208M+26.8% | $195M+21.1% | $181M+13.1% | $178M+34.8% | |
| Medicaid | $61M-14.1% | $65M+14.0% | $67M+52.3% | $70M+150% | $71M+294% | |
| Current year by Business | ||||||
| Commercial | $32B+33.7% | $32.21B+42.9% | $28.98B+37.8% | $26.39B+37.3% | $23.94B+35.9% | |
| Medicaid | $76.97B+10.7% | $75.87B+9.4% | $72.92B+5.2% | $72.19B+5.0% | $69.52B-0.7% | |
| Medicare | $31.81B+58.9% | $30.65B+69.9% | $26.57B+51.3% | $22.8B+34.1% | $20.01B+18.4% | |
| Other | $1.95B+20.4% | $1.96B+28.4% | $1.91B+34.1% | $1.77B+31.8% | $1.62B+21.9% | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims by Business | ||||||
| Commercial | $36.49B+30.5% | $36.9B+41.7% | $33.74B+35.1% | $30.82B+33.3% | $27.97B+30.1% | |
| Medicaid | $85.56B+8.5% | $84.45B+8.9% | $82.47B+6.8% | $80.68B+4.8% | $78.86B+1.5% | |
| Medicare | $35.71B+57.8% | $34.32B+66.6% | $29.71B+45.0% | $25.8B+29.7% | $22.63B+16.2% | |
| Other | $2B+8.6% | $2.12B+23.8% | $2.07B+28.7% | $1.96B+33.8% | $1.85B+28.9% | |
| Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid by Business | ||||||
| Commercial | $36.09B+33.1% | $35.7B+42.6% | $32.19B+36.1% | $29.6B+35.9% | $27.11B+35.5% | |
| Medicaid | $85.44B+9.4% | $84.37B+8.1% | $81.3B+4.1% | $80.71B+4.1% | $78.07B-1.1% | |
| Medicare | $35.13B+55.8% | $33.18B+60.4% | $28.98B+42.0% | $25.15B+27.1% | $22.54B+16.2% | |
| Other | $2.04B+14.5% | $2.12B+29.0% | $2.07B+34.3% | $1.93B+31.9% | $1.78B+23.9% | |
| Medical claims liability by Business | ||||||
| Commercial | $21.55B+25.9% | $21.12B+30.0% | $19.9B+30.6% | $18.34B+31.9% | $17.12B+36.5% | |
| Medicaid | $43.58B+3.2% | $43.46B+4.9% | $43.38B+3.4% | $42.21B-1.4% | $42.24B-2.5% | |
| Medicare | $17.21B+19.8% | $16.89B+18.0% | $15.84B+8.8% | $15.08B+5.9% | $14.37B+4.1% | |
| Other | $450M-32.5% | $598M-1.3% | $701M+31.8% | $704M+50.7% | $667M+45.0% | |
| Prior years by Business | ||||||
| Commercial | $4.09B+27.8% | $3.48B+38.0% | $3.25B+23.8% | $3.24B+26.3% | $3.2B+33.9% | |
| Medicaid | $8.47B-0.9% | $8.5B-2.2% | $8.38B-4.4% | $8.52B-2.9% | $8.55B-4.0% | |
| Medicare | $3.32B+28.4% | $2.53B-6.6% | $2.46B-13.4% | $2.4B-13.8% | $2.59B+4.0% | |
| Other | $88M— | $162M— | —— | —— | —— | |
| Premium and service revenues by Product | ||||||
| Premium and service revenues | $176.75B+16.5% | $174.58B+20.0% | $166.15B+14.9% | $158.15B+10.9% | $151.66B+7.2% | |
| Premium | $173.73B+17.0% | $171.56B+20.6% | $163.1B+15.7% | $155.09B+11.8% | $148.49B+8.1% | |
| Service | $3.02B-4.9% | $3.03B-5.5% | $3.05B-13.5% | $3.07B-20.3% | $3.17B-23.4% |
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.
