Centene Past Earnings Performance
Past criteria checks 0/6
Centene's earnings have been declining at an average annual rate of -32.2%, while the Healthcare industry saw earnings growing at 4% annually. Revenues have been growing at an average rate of 8.7% per year.
Key information
-32.20%
Earnings growth rate
-32.85%
EPS growth rate
| Healthcare Industry Growth | 8.50% |
| Revenue growth rate | 8.72% |
| Return on equity | -29.97% |
| Net Margin | -3.61% |
| Next Earnings Update | 28 Jul 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 16
CNC: Margin Recovery Efforts Will Offset Policy And Exchange Uncertainty
Centene's updated analyst price target moves from $43.47 to $54.94 as analysts factor in slightly higher revenue growth assumptions, a higher forward P/E multiple, and recent price target increases and upgrades across several research firms, balanced by some ongoing margin concerns. Analyst Commentary Recent research updates on Centene show a mix of optimism on the earnings and margin recovery path alongside caution about Medicaid and exchange exposure.Narrative Update • Apr 29
CNC: Policy And Exchange Uncertainty Will Pressure Margins And Constrain Upside
Analysts have trimmed the fair value estimate for Centene to $43.47 from $44.18, reflecting updated views on revenue growth, margin potential, and a lower expected future P/E multiple, even as several recent price target revisions highlight ongoing debate around the stock. Analyst Commentary Recent Street research paints a mixed picture for Centene, with several firms adjusting price targets and ratings as they reassess the company after Q4 results, updated guidance, and regulatory developments.Seeking Alpha • Apr 28
Centene: Big Comeback Story
Summary Centene Corporation delivered a strong Q1 earnings beat, signaling a robust turnaround after a challenging year for health insurers. Q1 revenue surged to $49.94 billion, up 7.1% year-over-year and $2.4 billion above consensus, driven by premium yield and Medicaid growth. Cost discipline was evident as the health benefits ratio fell to 87.3% and SG&A expenses declined, fueling a $1.24 adjusted EPS beat versus consensus. CNC raised 2026 revenue and EPS guidance, now projecting at least $3.40 adjusted EPS—a 63.4% year-over-year increase—supporting a bullish re-rating and buy recommendation. Read the full article on Seeking Alpha
Narrative Update • Apr 15
CNC: Medicaid Margins In 2026 Will Underpin Future Earnings Power
Centene's updated analyst price targets show only a modest reduction in implied fair value to about $60.51, as analysts factor in slightly better revenue growth and margins while tempering expectations with lower assumed P/E multiples and continued concern about margin pressure and exchange and Medicaid visibility. Analyst Commentary Recent research on Centene points to a mixed backdrop, but with a clear group of bullish analysts highlighting valuation support, execution on margins, and potential growth from policy and rate decisions.Narrative Update • Apr 01
CNC: Government Program Margins In 2026 Will Support Future Earnings Power
Centene's updated analyst price targets show a modest downward reset of about $4 across several firms to a range of roughly $32 to $49, with analysts citing recalibrated valuation multiples, ongoing Medicaid and exchange visibility questions, and mixed readthroughs from recent Q4 results and policy headlines. Analyst Commentary Recent research shows a split view on Centene, with some firms trimming targets and others lifting them, but the common thread is a focus on how Medicaid, exchange membership, and Q4 execution shape the risk and reward profile from here.Narrative Update • Mar 18
CNC: Government Managed Care Recovery In 2026 Will Support Future Earnings Power
Narrative Update Centene's implied fair value estimate has edged lower to about $60.89 from $62.81 as analysts recalibrated price targets. This reflects slightly softer growth and margin assumptions and a mix of recent target cuts and trims in valuation multiples across the group.
Narrative Update • Mar 04
CNC: Medicaid And Exchange Uncertainty Will Pressure Margins Despite 2026 EPS Guidance
Analysts have nudged their average price targets for Centene higher into a $43 to $59 range, pointing to margin improvement efforts, potential earnings power across segments, and sector recovery themes, even as they flag ongoing uncertainty around Medicaid and exchange visibility. Analyst Commentary Recent research on Centene shows a mix of optimism around margin potential and earnings power, alongside pointed concerns about execution risks in key government programs.Narrative Update • Feb 17
CNC: Policy Uncertainty And Margin Recovery Prospects Will Shape Balanced Outlook
Analysts have lifted their average price target on Centene by about $3 to roughly $44, citing updated views on fair value, slightly higher expected profit margins and P/E, and ongoing research that points to potential margin recovery in government managed care despite recent CMS related concerns. Analyst Commentary Recent research on Centene reflects a mix of optimism around long term earnings power in government managed care and caution around policy and utilization risks that could affect how quickly that potential is realized.Narrative Update • Feb 03
CNC: CMS Rate Pressure And Medicaid Uncertainty Will Restrain Future Earnings Recovery
Analysts have lifted their price targets on Centene into a US$43 to US$59 range, citing updated views on government managed care earnings potential and recently softer utilization trends, even as broader commentary highlights ongoing policy and Medicaid uncertainty for the sector. Analyst Commentary Recent research on Centene sits against a mixed backdrop for government managed care, with several firms highlighting both potential earnings recovery drivers and ongoing policy and contract risks.Narrative Update • Jan 20
CNC: Government Managed Care Policy Tailwinds Will Support Future Earnings Power
Analysts have lifted their fair value estimate for Centene from about $54.65 to roughly $62.81, citing updated views on discount rates, revenue growth, margins, and future P/E following recent price target hikes and sector commentary around government managed care and the "Great Healthcare Plan." Analyst Commentary Bullish analysts are highlighting a mix of policy tailwinds, product positioning, and company specific execution as reasons to revisit Centene's valuation. Recent research focuses on how government managed care, Medicare Advantage rate discussions, and the "Great Healthcare Plan" could influence earnings power and the multiple investors are willing to pay.Narrative Update • Jan 06
CNC: Marketplace Margin Recovery And Medicaid Pressures Will Shape Balanced Outlook
Analysts have raised their implied fair value estimate for Centene to about US$41 from roughly US$40, reflecting a mix of higher price targets tied to recent earnings beats and margin recovery expectations in Marketplace and Medicaid, partially balanced by concerns around Medicaid trends and contract losses. Analyst Commentary Recent Street research on Centene reflects a split view, with some analysts focusing on earnings power from margin recovery and others highlighting ongoing risks in Medicaid and selected contracts.Narrative Update • Dec 19
CNC: Medicaid Margin Pressures Will Likely Cap Earnings Recovery Ahead
Analysts have raised their fair value estimate for Centene to $32 from $24, citing improving margin visibility, stronger than expected Q3 results, and a more constructive long term earnings trajectory despite near term Medicaid and contract headwinds. Analyst Commentary Street research following Centene's Q3 earnings has been mixed, with several firms lifting price targets on the back of stronger profitability trends while others caution that EPS visibility remains constrained by Medicaid and Marketplace uncertainties.Narrative Update • Dec 05
CNC: Marketplace And Medicaid Margin Normalization Will Offset Policy And Contract Headwinds
Analysts have modestly raised their price target on Centene to $39.94 from $39.41, citing improved profit margin visibility and expectations for continued EPS growth as Marketplace and Medicaid margins recover, despite lingering near-term Medicaid pressures. Analyst Commentary Street research on Centene has become more polarized, with several bullish analysts lifting price targets into the mid 40s on the back of Q3 outperformance and clearer earnings visibility, while a cohort of more cautious voices highlight lingering Medicaid and Star rating risks that could constrain valuation multiple expansion.Narrative Update • Nov 21
CNC: Margin Recovery In Medicaid And Marketplace Will Drive 2026 Earnings Upside
Centene's analyst price target has increased by $5.59 to $45.00, as analysts expect margin recovery in the Marketplace and Medicaid segments to drive accelerated earnings growth, despite ongoing near-term pressures. Analyst Commentary Recent research coverage of Centene highlights a mix of positive and negative outlooks, with analyst views divided over the company’s near- and medium-term trajectory.Narrative Update • Nov 06
CNC: Medicaid Margin Stability And 26% ACA Premium Hike Will Shape 2026 Prospects
Centene’s analyst price target has been raised from $36 to approximately $39.76 per share. Analysts cite improving Medicaid profitability and stronger earnings guidance as key drivers for the upward revision.Narrative Update • Oct 22
Analysts Lift Centene Price Target on Margin Recovery but Warn of Lasting Sector Headwinds
Centene's analyst fair value target has been increased from $34.63 to $36.00. Analysts highlight improving margin visibility and constructive EPS guidance updates as key factors supporting the upward revision.Narrative Update • Oct 08
Medicaid And Medicare Advantage Will Expand Health Care Access
Centene's analyst price target increased from $33.94 to $34.63, as analysts cited stable EPS guidance, anticipated Medicaid margin improvement, and a constructive outlook for Marketplace rates as supporting factors for the revision. Analyst Commentary Recent analyst research on Centene reflects a full spectrum of perspectives, as experts weigh strong execution signals against ongoing uncertainties in the managed care and healthcare exchange landscape.Narrative Update • Sep 19
Medicaid And Medicare Advantage Will Expand Health Care Access
Centene's modest price target increase reflects mixed analyst sentiment, with optimism around reaffirmed FY25 EPS guidance and Medicaid margin improvements tempered by concerns over ongoing Medicaid and marketplace pressures, regulatory risks, and reduced long-term earnings visibility, resulting in a slight upward revision of fair value to $33.94. Analyst Commentary Bullish analysts cite reaffirmation of FY25 adjusted EPS guidance and constructive commentary on Medicaid margin improvement, ACA Marketplace rate refiling, and Stars performance as supporting recent price target raises.Analysis Article • Sep 12
Centene Corporation's (NYSE:CNC) Price Is Right But Growth Is Lacking After Shares Rocket 30%
Centene Corporation ( NYSE:CNC ) shareholders are no doubt pleased to see that the share price has bounced 30% in the...Narrative Update • Sep 04
Medicaid And Medicare Advantage Will Expand Health Care Access
Centene’s analyst price target remains at $34.56 as ongoing macro and regulatory uncertainty, elevated Medicaid cost trends, and withdrawn 2025 EPS guidance have driven increased caution and reduced forward earnings visibility. Analyst Commentary Persistent macro uncertainty and regulatory volatility in the healthcare exchange (ACA Marketplace) and Medicaid markets are driving cautious outlooks, especially due to potential disenrollment, risk pool degradation, and rate/trend volatility stemming from legislative changes and the expiration of enhanced APTCs. Centene’s withdrawal of FY2025 EPS guidance, prompted by incorrect Marketplace risk-adjustment assumptions and elevated Medicaid cost trends, has resulted in significant downward revisions to earnings estimates for the next three years.Analysis Article • Jul 03
Why Investors Shouldn't Be Surprised By Centene Corporation's (NYSE:CNC) 38% Share Price Plunge
Unfortunately for some shareholders, the Centene Corporation ( NYSE:CNC ) share price has dived 38% in the last thirty...Seeking Alpha • Mar 26
Centene: A Leader In Government-Sponsored Insurance And Its Prospects
Summary Centene's business transformation and strategic focus on core segments have led to increased operational marginality, despite losing 3.3 million Medicaid customers in 2024. I assign a "Buy" rating to Centene, with a fair valuation of $73 per share, indicating a 27% potential increase from the current price. The company’s competitive advantage lies in its focus on Medicaid and Medicare, but it faces risks from regulatory changes and strong competition. Centene's prospects are bolstered by demographic trends, Medicaid privatization, and ACA Marketplace demand, with expected improvements in cash flow and profitability. Read the full article on Seeking AlphaSeeking Alpha • Mar 18
Centene Corporation Is Resilient And Will Thrive
Summary Centene Corporation is a buy opportunity under $60, with a strong valuation and momentum, despite market volatility and economic concerns. The company reported strong Q4 '24 results, with EPS of $0.80 and FY '24 EPS of $7.17, and management raised 2025 revenue guidance by $4 billion. Risks include potential Medicaid and Medicare enrollment cuts, program pullbacks, and cash flow concerns for the company, but we expect management to navigate these challenges. Insiders and hedge funds are investing, indicating confidence in Centene's resilience and growth potential, with a target price of around $72. Read the full article on Seeking AlphaSeeking Alpha • Jan 02
Centene: Attractive Risk-Reward For A Growing Company At A Value Price
Summary Centene reported strong Q3’24 results, beating revenue expectations by $4.13 billion and achieving EPS of $1.62, driven by Medicaid rate increases and membership growth. Key highlights from the quarter include successful Medicaid reprocurements, improved 2025 Medicare Advantage star ratings, and advancements in AI for operational efficiency, positioning Centene for long-term growth. Despite some leverage, Centene's investment-grade rating and attractive debt maturities suggest financial stability, with a promising outlook for EPS growth and Medicare revenue. Insider buying and undervaluation, with Centene trading at around 10x earnings, indicate confidence in the company's future despite Medicaid redetermination and regulatory risks. Read the full article on Seeking AlphaSeeking Alpha • Oct 22
Centene: Should Have Followed My Original Thesis, But A Buy For Q3 2024
Summary Centene, a leading health insurer, shows strong fundamentals and growth despite sector challenges, making it a "Buy" at a target price of $70/share. The company’s 2Q24 results indicate robust earnings growth and increasing membership, contrasting with peers like Humana, which face significant declines. Centene's valuation at $61/share with a P/E of 9x is attractive, projecting a potential 27.17% annualized upside until 2026. Despite lacking a dividend, Centene's stability and growth prospects in government programs and managed healthcare segments justify a conservative investment approach. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Centene makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 178,332 | -6,444 | 12,904 | 0 |
| 31 Dec 25 | 176,151 | -6,674 | 12,876 | 0 |
| 30 Sep 25 | 167,285 | -5,290 | 12,748 | 0 |
| 30 Jun 25 | 159,268 | 2,054 | 12,661 | 0 |
| 31 Mar 25 | 153,244 | 3,453 | 12,510 | 0 |
| 31 Dec 24 | 147,145 | 3,305 | 12,305 | 0 |
| 30 Sep 24 | 146,352 | 3,067 | 12,494 | 0 |
| 30 Jun 24 | 144,202 | 2,823 | 12,455 | 0 |
| 31 Mar 24 | 142,949 | 2,735 | 12,573 | 0 |
| 31 Dec 23 | 141,393 | 2,702 | 12,407 | 0 |
| 30 Sep 23 | 139,364 | 2,444 | 12,130 | 0 |
| 30 Jun 23 | 138,111 | 2,713 | 11,934 | 0 |
| 31 Mar 23 | 136,941 | 1,483 | 11,704 | 0 |
| 31 Dec 22 | 135,999 | 1,202 | 11,366 | 0 |
| 30 Sep 22 | 132,756 | 2,014 | 10,892 | 0 |
| 30 Jun 22 | 129,228 | 1,860 | 10,562 | 0 |
| 31 Mar 22 | 124,181 | 1,497 | 9,888 | 0 |
| 31 Dec 21 | 118,573 | 1,347 | 9,376 | 0 |
| 30 Sep 21 | 114,130 | 736 | 9,657 | 0 |
| 30 Jun 21 | 111,284 | 720 | 9,995 | 0 |
| 31 Mar 21 | 108,158 | 2,461 | 10,461 | 0 |
| 31 Dec 20 | 104,280 | 1,808 | 10,276 | 0 |
| 30 Sep 20 | 95,764 | 2,029 | 9,529 | 0 |
| 30 Jun 20 | 86,523 | 1,556 | 8,301 | 0 |
| 31 Mar 20 | 78,105 | 845 | 7,290 | 0 |
| 31 Dec 19 | 70,807 | 1,321 | 6,448 | 0 |
| 30 Sep 19 | 68,385 | 1,353 | 6,472 | 0 |
| 30 Jun 19 | 65,507 | 1,277 | 6,591 | 0 |
| 31 Mar 19 | 61,028 | 1,082 | 6,457 | 0 |
| 31 Dec 18 | 56,688 | 900 | 6,331 | 0 |
| 30 Sep 18 | 52,618 | 889 | 5,795 | 0 |
| 30 Jun 18 | 48,655 | 1,075 | 5,105 | 0 |
| 31 Mar 18 | 47,201 | 1,029 | 4,797 | 0 |
| 31 Dec 17 | 45,810 | 828 | 4,370 | 0 |
| 30 Sep 17 | 44,870 | 853 | 4,267 | 0 |
| 30 Jun 17 | 43,646 | 796 | 4,303 | 0 |
| 31 Mar 17 | 42,468 | 713 | 4,246 | 0 |
| 31 Dec 16 | 37,693 | 562 | 3,900 | 0 |
| 30 Sep 16 | 32,839 | 416 | 3,284 | 0 |
| 30 Jun 16 | 28,062 | 360 | 2,719 | 0 |
| 31 Mar 16 | 22,948 | 277 | 2,152 | 0 |
| 31 Dec 15 | 21,292 | 356 | 1,990 | 0 |
| 30 Sep 15 | 19,854 | 350 | 1,827 | 0 |
| 30 Jun 15 | 18,548 | 339 | 1,699 | 0 |
Quality Earnings: CNC is currently unprofitable.
Growing Profit Margin: CNC is currently unprofitable.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: CNC is unprofitable, and losses have increased over the past 5 years at a rate of 32.2% per year.
Accelerating Growth: Unable to compare CNC's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: CNC is unprofitable, making it difficult to compare its past year earnings growth to the Healthcare industry (17%).
Return on Equity
High ROE: CNC has a negative Return on Equity (-29.97%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/25 00:19 |
| End of Day Share Price | 2026/05/22 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Centene Corporation is covered by 34 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | Argus Research Company |
| Hua Ha | Baird |
| Andrew Mok | Barclays |