CNC Centene Corporation

Q3 2025 10-Q

Filed: Oct 29, 2025Period ending Sep 30, 2025

Financials

Hospital & Medical Service PlansSEC EDGAR

Centene Corporation (CNC) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 29, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

AI Filing Analysis
Q3 2025 10-Q

Management Discussion & Analysis

• Revenue $49.7B Q3 2025, up 18% YoY from $42.0B Q3 2024; driven by PDP membership/premiums, Marketplace growth, Medicaid rate increases
• Operating margins pressured: HBR 92.7% Q3 2025 vs 89.2% Q3 2024; SG&A ratio improved to 7.0% from 8.3%; adjusted SG&A ratio 7.0% vs 8.3%

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Risk Factors

• No material changes in risk factors since the 2024 10-K and prior 2025 10-Qs
• Carried-forward regulatory risk includes uncertainty in Medicaid program funding and policy changes impacting revenue

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Quarterly Financial Summary
XBRL

Revenue

$44.9B

▲ +21.7% YoY▲ +5.7% QoQ

Net Income

-$6.6B

▼ -1030.0% YoY▼ -2520.9% QoQ

Gross Margin

7.5%

▼ -341bp YoY▲ +34bp QoQ

Operating Margin

-15.5%

▼ -1729bp YoY▼ -1441bp QoQ

Net Margin

-14.8%

▼ -1670bp YoY▼ -1417bp QoQ

ROE

-31.7%

Total Assets

$82.1B

EPS (Diluted)

$-13.42

▼ -1079.6% YoY▼ -2584.0% QoQ

Operating Cash Flow

$1.4B

▲ +238.7% YoY▼ -24.0% QoQ

Source: XBRL data from Centene Corporation Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.

Other Centene Corporation Quarterly Reports

Q2 2025 10-Q

Q1 2025 10-Q

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