Centene vs Humana
Centene is the larger business, with $194.78bn of revenue in fiscal 2025 against $129.66bn for Humana (1.5 times as much). Centene grew faster (19.4% against 10.1%). Humana kept more of each dollar of sales as profit: a net margin of 0.9% against -3.4%. Humana carries less debt relative to equity (70.1% against 87.7%).
| Latest fiscal year | CenteneCNC, 2025 | HumanaHUM, 2025 |
|---|---|---|
| Revenue | $194.78bn | $129.66bn |
| Revenue growth | 19.4% | 10.1% |
| Net income | −$6.67bn | $1.19bn |
| Operating margin | -3.9% | 2.1% |
| Net margin | -3.4% | 0.9% |
| Return on equity | -28.8% | 7.0% |
| Free cash flow | $4.32bn | $375m |
| Cash | $17.89bn | $4.20bn |
| Total debt | $17.49bn | $12.37bn |
| Debt to equity | 87.7% | 70.1% |
| Dividend per share | — | $3.54 |
| Dividend yield | — | 0.9% |
| Share buybacks | $475m | $151m |
| Employees | 61,100 | 67,060 |
| Market value | $33.29bn | $50.68bn |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | 36 (Weak) | 48 (Moderate) |
| Insider trades, 12 months | 0 buys, 5 sales | 1 buys, 0 sales |