Health Care
CNC returned to profitability in Q2 FY2026, with revenue rising 9.9% year over year to $53.6B and net income attributable to Centene reaching $1.1B versus a $253M loss a year earlier, supported by lower medical costs relative to premium revenue, Marketplace risk-adjustment benefits, and improved cost discipline. Source: 10-Q Item 2 MD&A, pp. 21, 27-29.
Key risk: Balance-sheet leverage remains meaningful relative to equity
Total liabilities were $60.4B compared with stockholders' equity of $22.6B, producing a debt-to-equity ratio of 2.68x. Equity declined 17.7% year over year, so the company has less equity capital relative to its liability base than in the prior-year period.
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