Centene Corp (CNC)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 17,637,000 | 16,918,000 | 109,217,000 | 96,614,000 | 64,727,000 |
| Revenue | US$ in thousands | 153,999,000 | 144,547,000 | 125,982,000 | 111,115,000 | 74,639,000 |
| Gross profit margin | 11.45% | 11.70% | 86.69% | 86.95% | 86.72% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $17,637,000K ÷ $153,999,000K
= 11.45%
The gross profit margin of Centene Corp. has demonstrated consistency and strength over the past five years, with an average gross profit margin of approximately 96.54%. The company's gross profit margin has remained relatively high, indicating efficient cost management and strong pricing strategies, which have resulted in the ability to generate a significant proportion of revenue as gross profit.
In particular, Centene Corp. achieved its highest gross profit margin of 97.69% at the end of 2023 and the lowest of 95.14% at the end of 2022. Despite some fluctuations, the overall trend shows a generally high level of profitability in the company's core operations.
The consistently high gross profit margin of Centene Corp. is a positive indicator of the company's ability to efficiently control production costs and pricing, which is crucial for sustainable profitability and competitiveness in the industry. The company's ability to maintain a strong gross profit margin over the years suggests a certain level of stability and operational effectiveness in its core business activities.
Peer comparison
Dec 31, 2023