Centene (CNC) Balance Sheet: Assets & Liabilities

Centene (CNC) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Centene reported total assets of $77.66B and total liabilities of $57.60B. Shareholders' equity was $19.95B, down 24.4% from $26.41B a year earlier. Total debt stood at $18.78B against $17.89B in cash and short-term investments, a net debt position of $889.00M. That puts debt-to-equity at 0.94, compared with 0.70 a year earlier.

Centene Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Centene Corporation (CNC) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	17.89	14.06	17.19	12.07	13.12	10.80	12.12	5.34	4.07
Short-Term Investments	0.00	2.62	2.46	2.32	1.54	1.58	0.86	0.72	0.53
Cash & Short-Term Investments	17.89	16.69	19.65	14.40	14.66	12.38	12.99	6.06	4.60
Accounts Receivable	18.11	19.71	15.53	13.27	12.24	9.70	6.25	5.15	3.41
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.00	1.60	5.57	2.46	1.60	1.32	1.09	0.78	0.69
Total Current Assets	35.99	38.00	40.76	30.13	28.50	23.39	20.32	12.00	8.70
Non-Current Assets
Property, Plant & Equipment (Net)	2.35	2.43	2.02	4.99	6.96	2.77	2.78	1.71	1.10
Long-Term Investments	20.88	17.43	16.29	14.68	14.04	12.85	7.72	6.86	5.31
Goodwill	10.84	17.56	17.56	18.81	19.77	18.65	6.86	7.02	4.75
Intangible Assets	4.53	5.41	6.10	6.91	7.82	8.39	2.06	2.24	1.40
Other Non-Current Assets	2.16	1.62	1.92	1.35	1.28	2.66	1.25	1.08	0.59
Total Non-Current Assets	41.67	44.45	43.89	46.74	49.88	45.33	20.67	18.90	13.15
Total Assets	77.66	82.45	84.64	76.87	78.38	68.72	40.99	30.90	21.86
Current Liabilities
Accounts Payable	20.54	13.02	16.42	9.35	8.29	7.07	4.00	4.05	4.17
Short-Term Debt	0.20	0.11	0.12	0.08	0.27	0.30	0.25	0.04	0.00
Current Portion of Long-Term Debt	0.05	0.11	0.12	0.08	0.27	-	-	-	-
Deferred Revenue	0.74	0.66	0.72	0.48	0.43	0.52	0.38	0.39	0.33
Other Current Liabilities	-0.05	18.31	19.46	16.75	14.24	13.69	8.30	7.50	4.84
Total Current Liabilities	21.48	34.26	36.72	28.46	25.77	21.59	12.93	11.97	9.33
Non-Current Liabilities
Long-Term Debt	18.58	18.42	17.71	17.94	18.57	18.02	14.26	6.65	4.70
Deferred Tax Liabilities	1.75	0.68	0.64	0.62	1.41	1.53	0.19	0.00	0.00
Other Non-Current Liabilities	15.80	1.83	4.26	2.48	1.99	1.62	0.92	1.26	0.95
Total Non-Current Liabilities	36.13	21.67	21.97	24.17	25.59	21.17	15.37	7.91	5.65
Total Liabilities	57.61	55.94	58.69	52.63	51.35	42.76	28.30	19.88	14.98
Stockholders' Equity
Common Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.35
Retained Earnings	8.67	15.35	12.04	9.34	8.14	6.79	4.98	3.66	2.75
Accumulated Other Comprehensive Income	-0.06	-0.50	-0.65	-1.13	0.08	0.34	0.13	-0.06	0.00
Treasury Stock	9.44	9.00	5.86	4.21	1.09	-	-	-	-
Additional Paid-in Capital	11.34	20.56	14.45	20.06	19.67	18.64	7.43	7.31	4.11
Minority Interest	0.10	0.10	0.12	0.18	0.23	0.19	0.14	0.11	0.03
Shares Outstanding	0.49	0.50	0.53	0.55	0.58	-	-	-	-
Total Stockholders' Equity	19.95	26.41	25.96	24.06	26.80	25.77	12.55	10.92	6.85
Total Liabilities & Equity	77.66	82.45	84.64	76.87	78.38	68.72	40.99	30.90	21.86

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Centene Balance Sheet

How much debt does Centene have?

Centene had total debt of $18.78B as of Dec 31, 2025, against $17.89B in cash and short-term investments. Its debt-to-equity ratio was 0.94. Total debt was $18.53B a year earlier.

What are Centene's total assets?

Centene reported total assets of $77.66B as of Dec 31, 2025, down 5.8% from $82.44B a year earlier. Total liabilities were $57.60B.

What is Centene's shareholders' equity?

Centene's shareholders' equity was $19.95B as of Dec 31, 2025, or about $40.57 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition