Centene

CNC · Health Care · Market cap $30.2B

Q2 FY26 Jun 30, 2026 reported Jul 28, 2026

Revenue$53.60B +10% year over year

Gross profit$4.60B

Operating profit$1.20B

Net profit$1.10B 2% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	53.60	100%	+10%
Medicaid	32.00	60%	+14%
Medicare	11.10	21%	+17%
Commercial	9.40	18%	−7%
Other/Eliminations	1.20	2%	−2%
Cost of revenue	−49.00	91%
Gross profit	4.60	9% margin	+2pp
SG&A	−3.10	6%	+0pp
Other	−0.30	1%	+0pp
Operating profit	1.20	2% margin	+3pp
Tax	−0.40
Net profit	1.10	2%	+3pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	49.90	100%	+7%
Medicaid	23.60	47%	+6%
Medicare	10.30	21%	+18%
Commercial	9.60	19%	−6%
Other	4.50	9%
Other/Eliminations	1.20	2%	+122%
Service	0.80	2%	−1%
Cost of revenue	−44.30	89%
Gross profit	5.70	11% margin	+0pp
SG&A	−3.40	7%	+0pp
Other	−0.40	1%	+0pp
Operating profit	1.90	4% margin	+0pp
Tax	−0.60
Net profit	1.50	3%	+0pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	46.60	100%	+15%
Medicaid	26.40	57%
Commercial	10.10	22%
Medicare	8.80	19%
Other/Eliminations	1.30	3%
Cost of revenue	−41.30	89%
Gross profit	5.30	11% margin	+0pp
SG&A	−3.40	7%	−1pp
Other	−0.40	1%	+0pp
Operating profit	1.50	3% margin	+1pp
Tax	−0.40
Net profit	1.30	3%	+0pp

All figures in billions of U.S. dollars, for Q3 FY24 (period ends Sep 30, 2024).
Item	Value	Share of revenue	Year over year
Revenue	42.00	100%	+10%
Medicaid	26.40	63%
Commercial	8.70	21%
Medicare	5.60	13%
Other/Eliminations	1.20	3%
Cost of revenue	−38.00	90%
Gross profit	4.00	10% margin	−3pp
SG&A	−3.00	7%	−1pp
Other	−0.30	1%	+0pp
Operating profit	0.70	2% margin	+0pp
Tax	−0.30
Net profit	0.70	2%	+0pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26	Jun 30, 2026	Jul 28, 2026	$53.6B	+10%	2%	$1.1B	2%
Q1 FY26	Jan 1 – Mar 31, 2026	Apr 28, 2026	$49.9B	+7%	4%	$1.5B	3%
Q1 FY25	Jan 1 – Mar 31, 2025	Apr 25, 2025	$46.6B	+15%	3%	$1.3B	3%
Q3 FY24	Jul 1 – Sep 30, 2024	Oct 25, 2024	$42.0B	+10%	2%	$0.7B	2%