Centene (CNC) revenue breakdown
By segment, Medicaid is the largest at 57% of fiscal 2025 revenue; Commercial grew fastest, 25% a year over 4 years.
By product, Premium is the largest at 98% of fiscal 2025 revenue, growing 19% a year over 8 years.
Revenue by segment
Fiscal years, as Centene reports them in its 10-K filings; fiscal 2025 total $194.8B.
| Segments | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Medicaid | — | — | — | — | $84.1B | $93.2B | $100.8B | $101.4B | $110.4B | 57% |
| Commercial | — | — | — | — | $17.0B | $17.4B | $24.8B | $33.7B | $42.0B | 22% |
| Medicare | — | — | — | — | $17.5B | $22.5B | $22.3B | $23.0B | $37.2B | 19% |
| Other | — | — | — | — | $7.4B | $11.5B | $6.1B | $4.9B | $5.1B | 3% |
| Managed Care | $45.8B | $57.0B | $71.2B | $106.9B | — | — | — | — | — | — |
| Specialty Services | $2.6B | $3.1B | $3.4B | $4.3B | — | — | — | — | — | — |
Revenue by product
Fiscal years, as Centene reports them in its 10-K filings; fiscal 2025 total $174.6B.
| Products | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| Premium | $43.4B | $53.6B | $67.4B | $100.1B | $112.3B | $127.1B | $135.6B | $142.3B | $171.6B | 98% |
| Service | $2.3B | $2.8B | $2.9B | $3.7B | $5.7B | $8.3B | $4.5B | $3.2B | $3.0B | 2% |
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Where does Centene make its money?
In fiscal 2025, by segment: Medicaid $110.4B, Commercial $42.0B, Medicare $37.2B, Other $5.1B.
From Centene's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.