Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Snapshot
CENTENE CORPORATION's top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.
Revenue
+11.5%Compound growth, FY2021 to FY2025
Gross profit
-0.5%Compound growth, FY2021 to FY2025
Operating Income
N/ACompound growth, FY2021 to FY2025
Net income
N/ACompound growth, FY2021 to FY2025
Headline results
Four lines, five fiscal years, straight from the filings.
CENTENE CORPORATION headline income statement — FY2025
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for CENTENE CORPORATION, from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
CENTENE CORPORATION expanded income statement — FY2025
Expanded annual statement lines sourced from the SEC EDGAR database for CENTENE CORPORATION.
Margins
How much of CENTENE CORPORATION's revenue survives through gross profit, operating income, and net income.
Gross margin
-420 bpsFY2025, versus FY2021
Operating Margin
-533 bpsFY2025, versus FY2021
Net income margin
-450 bpsFY2025, versus FY2021
Observation window
yearsFY2021 through FY2025
Margin table
Side-by-side read of gross, operating and net margin.
CENTENE CORPORATION margins — FY2025
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of CENTENE CORPORATION's statement measured against the immediately prior period.
Revenue YoY
FY2024FY2025 versus FY2024
Gross profit YoY
FY2024FY2025 versus FY2024
Op. income YoY
FY2024FY2025 versus FY2024
Net income YoY
FY2024FY2025 versus FY2024
Year-on-year table
Contractions are tinted so slowdowns are obvious.
CENTENE CORPORATION year-on-year change — FY2025
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.
Revenue CAGR
4yrFY2021 to FY2025
Gross profit CAGR
4yrFY2021 to FY2025
Op. income CAGR
4yrFY2021 to FY2025
Net income CAGR
4yrFY2021 to FY2025
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Over the five-year period, Centene’s revenue has shown a strong upward trend, increasing from 125,982 million USD in 2021 to 194,777 million USD in 2025. This growth reflects the company’s robust market presence in the healthcare sector. Gross profit, however, has experienced less consistent progress—rising from 14,487 million USD in 2021 to a peak of 17,637 million USD in 2023 before declining to 14,209 million USD in 2025. This suggests that while top-line growth has been healthy, maintaining efficient cost control over production or service delivery has presented challenges. Operating income and net income both registered gains until 2024, with operating income reaching 3,175 million USD and net income 3,305 million USD; yet, 2025 marked a sharp reversal, with operating income plunging to –7,623 million USD and net income to –6,674 million USD—a swing exceeding 200% compared to the previous year. The dramatic downturn in 2025 raises concerns about the operational efficiency and cost management of Centene. While consistent revenue growth signals successful efforts to expand market share in a highly competitive industry, the significant deterioration in operating and net income metrics suggests that rising expenses, unexpected operational challenges, or shifts in market conditions could be impacting profitability. In this context, despite a historically strong revenue performance, the severe losses in the most recent year signal potential instability in managing costs and investments. Overall, Centene’s financial health appears under pressure, indicating that careful scrutiny of expense structures and strategic operational adjustments will be critical to ensure long-term sustainability.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
