Centene Corp (CNC)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 34,635,000 | 31,541,000 | 16,656,000 | 14,199,000 | 15,216,000 |
| Revenue | US$ in thousands | 163,071,000 | 153,999,000 | 144,547,000 | 125,982,000 | 111,115,000 |
| Gross profit margin | 21.24% | 20.48% | 11.52% | 11.27% | 13.69% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $34,635,000K ÷ $163,071,000K
= 21.24%
The gross profit margin of Centene Corp has fluctuated over the past five years, as follows:
1. As of December 31, 2020, the gross profit margin was 13.69%. This indicates that for every dollar of revenue generated, the company retained $0.1369 as gross profit after deducting the cost of goods sold.
2. By December 31, 2021, the gross profit margin decreased to 11.27%, reflecting a decline in the company's ability to generate profit from its core operations.
3. In the following year, by December 31, 2022, the gross profit margin saw a slight improvement to 11.52%, but it still remained below the 2020 level.
4. The gross profit margin then showed significant improvement by December 31, 2023, where it surged to 20.48%. This sharp increase indicates that Centene Corp was able to increase its profitability by effectively managing its production costs.
5. Finally, as of December 31, 2024, the gross profit margin continued to strengthen, reaching 21.24%. This signifies that Centene Corp's profitability further improved, with the company retaining a higher percentage of revenue as gross profit.
Overall, the trend in Centene Corp's gross profit margin demonstrates both fluctuations and notable improvements in the company's ability to generate profits from its core operations over the five-year period.
Peer comparison
Dec 31, 2024