Centene Corporation

CNCNYSEHealthcare● Active

$64.24

+$1.91(+3.06%)

Market Cap$31.7B

P/E Ratio—

52W High$63.015

52W Low$25.08

Avg Volume6.5M

Open$62.32

Beta1.09

Free Cash Flow Financials Revenue

Centene Corporation (CNC) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CNC · free cash flow · updated Jun 8, 2026

Core FCF metrics

CNC · FCF · TTM · margin & CAGR

Free cash flow was $4.32B for FY2025 (fiscal year ending 2025-12-31), up 981.8% year-over-year The FCF margin was 2.2%. Five-year CAGR stands at -1.4%.

FY2025 Free Cash Flow$4.32B▲ +981.8% YoY

Trailing 12M (TTM)$6.35Btrailing 4 quarters sum

FCF Margin2.2%$4.32B ÷ revenue

3-Year CAGR-6.3%FY2022 → FY2025

5-Year CAGR-1.4%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CNC · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$5.09B(767M)$4.32B▲ +981.8%2.2%

FY2024$154.0M(644M)−$490.0M▼ 106.8%-0.3%

FY2023$8.05B(799M)$7.25B▲ +38.0%4.7%

FY2022$6.26B(1.00B)$5.26B▲ +59.5%3.6%

FY2021$4.21B(910M)$3.29B▼ 28.9%2.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CNC · P/FCF · FCF yield · FCF per share

Centene Corporation (CNC) trades at a FCF yield of 20.55% and a price-to-free-cash-flow ratio of 5.0x. FCF per share stands at $12.92, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

20.55%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$12.92

TTM FCF ÷ Shares Outstanding

Price / FCF

x5.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x4.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CNC · cash flow statement · operating / investing / financing

For FY2025, Centene Corporation generated $5.09B in operating cash flow and spent 767M in capital expenditures, yielding $4.32B in free cash flow.

Operating Activities

+$5.09B

Cash from core business operations

2025-12-31

Investing Activities

+$453.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.60B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($5.09B) − |CapEx| (767M) = FCF ($4.32B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

CNC vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Centene CorporationYOU

CNC

$4.32B+981.8%2.2%

22%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Centene Corporation (CNC) reported free cash flow of $4.32B for FY2025 (fiscal year ending 2025-12-31), up 981.8% year-over-year. The FCF margin was 2.2%.

Based on available data, Centene Corporation has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $7.25B in FY2023. The 5-year CAGR stands at -1.4%.

Centene Corporation's FCF yield is 20.55% and price-to-FCF ratio is 5.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CNC free cash flow · 8 questions

Centene Corporation free cash flow was $4.32B for FY2025, up 981.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $6.35B.

CNC free cash flowCNC FCFCNC FCF 2025CNC free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Centene Corporation · Centene Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026