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Screener / SEC EDGAR /CIK 0001071739 /10-K filed Feb 17, 2026, compared with Feb 18, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
CICAHELVCNCJNJHUM
NYSE Health care · Health Insurance

Centene Corporation CNC

CNC quote by TradingView

Our mission is to transform the health of the communities we serve, one person at a time. 10-K, Item 1

Employees
61,100
Headquarters
St Louis, MO
Next results
around Feb 5, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2024

Revenue of $163.1B through the costs to a net profit of $3.3B · income statement of the 10-K

2% operating margin
Revenue to Gross profit: $17.1BRevenue to Cost of revenue: $146.0BGross profit to Operating profit: $3.2BGross profit to Operating expenses: $13.9BOperating profit to Net profit: $2.2BOperating profit to Tax: $963.0MOther income to Net profit: $1.1B Revenue: $163.1B REVENUE $163.1B +6% Y/Y Gross profit: $17.1B · 10% margin GROSS PROFIT $17.1B 10% margin · −3% Y/Y Cost of revenue: $146.0B · 90% of revenue COST OF REVENUE $146.0B 90% of revenue Operating profit: $3.2B · 2% margin OPERATING PROFIT $3.2B 2% margin · +8% Y/Y Other income: $1.1B · 1% of revenue OTHER INCOME $1.1B 1% of revenue Operating expenses: $13.9B · 9% of revenue OPERATING EXPENSES $13.9B 9% of revenue Net profit: $3.3B · 2% margin NET PROFIT $3.3B 2% margin · +22% Y/Y Tax: $963.0M · 1% of revenue TAX $963.0M 1% of revenue
Gross profit $17.1B 10% margin · −3% Y/Y
Operating profit $3.2B 2% margin · +8% Y/Y
Net profit $3.3B 2% margin · +22% Y/Y
The full income statement, year by year

CNC among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 19.4%, above 92% of 59 peers (their median 7.1%) REVENUE GROWTH 19.4% · above 92% Gross margin: 7.9%, above 6% of 50 peers (their median 65.2%) GROSS MARGIN 7.9% · above 6% Operating margin: 0.5%, above 8% of 50 peers (their median 13.7%) OPERATING MARGIN 0.5% · above 8% Net margin: 0.7%, above 8% of 59 peers (their median 9.7%) NET MARGIN 0.7% · above 8% FCF margin: 1.9%, above 9% of 55 peers (their median 15.8%) FCF MARGIN 1.9% · above 9%
CNC Peer median Below the median

What changed

6 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 17, 2026 against Feb 18, 2025.

Risk factors
6 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Critical audit matters changed
New this year: Assessment of goodwill impairment for the Medicaid, Medicare, and Commercial reporting units (“As discussed in Notes 2 and 7 to the consolidated financial statements, the Company performs goodwill impairment testing for its reporting units on an annual basis during the fourth quarter or more frequently if impairment indicators exist. The Company estimates the fair value of the Medicaid, Medic”). Same as last year: Evaluation of the estimated medical claims liability; Evaluation of the estimated Affordable Care Act risk adjustment accruals
10-K · XBRL
Accounting checks
7 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

8 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 7 checks found nothing to note

  • Critical audit matters changed
    New this year: Assessment of goodwill impairment for the Medicaid, Medicare, and Commercial reporting units (“As discussed in Notes 2 and 7 to the consolidated financial statements, the Company performs goodwill impairment testing for its reporting units on an annual basis during the fourth quarter or more frequently if impairment indicators exist. The Company estimates the fair value of the Medicaid, Medic”). Same as last year: Evaluation of the estimated medical claims liability; Evaluation of the estimated Affordable Care Act risk adjustment accruals
  • Same auditor in both 10-Ks: KPMG LLP
6 more checks with nothing to note
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

6 paragraphs in Risk Factors that were not in the 10-K filed Feb 18, 2025. Quoted as filed.

All 6 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 18, 2025 10-K, ITEM 1A
    The Final Rule was published in the Federal Register on June 25, 2025. The Final Rule makes changes to policies to strengthen program integrity measures in the Marketplace. For example, the Special Enrollment Period for those under 150% of the FPL has been repealed beginning August 25, 2025. Several of the provisions of the Final Rule…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 18, 2025 10-K, ITEM 1A
    Future levels of funding and premium rates may be affected by continuing government efforts to contain healthcare costs and may further be affected by state and federal budgetary constraints and spending initiatives or changes in control of the legislative or executive branches at the state and federal level. Governments periodically…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 18, 2025 10-K, ITEM 1A
    In addition, the OBBBA includes requirements that may reduce the number of members eligible for state Medicaid Expansion programs by requiring work or community engagement by members and for state Medicaid agencies to redetermine member eligibility at more frequent intervals, along with adding a "Cost Sharing" or "Co-Pay" for certain…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$144.5B$154.0B$163.1B$194.8B
Net income$1.2B$2.7B$3.3B−$6.7B
Operating cash flow$6.3B$8.1B$154.0M$5.1B
Free cash flow$5.3B$7.3B−$490.0M$4.3B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$194.8B ▲ 19.4% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Centene Corporation, St Louis, MO · from the 10-K filed Feb 17, 2026

Our mission is to transform the health of the communities we serve, one person at a time. As the nation's largest managed care company focused on underserved populations, Centene is committed to helping people live healthier lives. Centene offers affordable and high-quality products to more than 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace.

Headquarters
St Louis, MO
Country
United States
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 27, 2026
Incorporated in
DE

Employees, at the top of the page: "Through an intentional focus on building a One CenTeam culture, we have elevated and unleashed the power of 61,100 team members who uniquely understand how to serve our members and are committed to our mission of transforming the health of the communities we serve, one person at a time" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 17, 2026 (open at SEC), compared with the 10-K filed Feb 18, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/CNC/export.csv") into a cell.