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Centene vs Oscar Health: revenue, profit, margins and growth compared

Centene brought in $194.8B of revenue in fiscal 2025, Oscar Health $11.7B in fiscal 2025. Revenue changed by +19.4% at Centene and +27.5% at Oscar Health on the year before, so Oscar Health grew faster. Centene kept -3.4% of its revenue as net profit, Oscar Health -3.8%. Free cash flow was $4.3B at Centene and $1.1B at Oscar Health.

Side by side, latest fiscal year

CNCOSCR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$194.8B$11.7B
Revenue growth+19.4%+27.5%
Net income-$6.7B-$443.2M
Net margin-3.4%-3.8%
Free cash flow$4.3B$1.1B
Free cash flow margin2.2%9.0%
Earnings per share (diluted)-$13.53-$1.69
Cash$17.9B$2.8B
Debt$17.5B$430.1M
Price to earningsn/an/a
Market value$30.5B$9.1B
Dividend yieldn/an/a
Rank by revenue in sector#7 of 523 · Health care#41 of 523 · Health care

Over the years

Revenue
CNC FY2018: $60.1BCNC FY2019: $74.6BCNC FY2020: $111.1BCNC FY2021: $126BCNC FY2022: $144.5BCNC FY2023: $154BCNC FY2024: $163.1BCNC FY2025: $194.8BOSCR FY2019: $488.2MOSCR FY2021: $462.8MOSCR FY2021: $1.8BOSCR FY2022: $4BOSCR FY2023: $5.9BOSCR FY2024: $9.2BOSCR FY2025: $11.7BFY18FY19FY20FY21FY22FY23FY24FY25
CNC $194.8BOSCR $11.7B
Net income
CNC FY2018: $900MCNC FY2019: $1.3BCNC FY2020: $1.8BCNC FY2021: $1.3BCNC FY2022: $1.2BCNC FY2023: $2.7BCNC FY2024: $3.3BCNC FY2025: -$6.7BOSCR FY2019: -$261.2MOSCR FY2021: -$406.8MOSCR FY2021: -$572.6MOSCR FY2022: -$606.3MOSCR FY2023: -$270.7MOSCR FY2024: $25.4MOSCR FY2025: -$443.2MFY18FY19FY20FY21FY22FY23FY24FY25
CNC -$6.7BOSCR -$443.2M
Net margin
CNC FY2018: 1.5%CNC FY2019: 1.8%CNC FY2020: 1.6%CNC FY2021: 1.1%CNC FY2022: 0.8%CNC FY2023: 1.8%CNC FY2024: 2.0%CNC FY2025: -3.4%OSCR FY2019: -53.5%OSCR FY2021: -87.9%OSCR FY2021: -31.1%OSCR FY2022: -15.3%OSCR FY2023: -4.6%OSCR FY2024: 0.3%OSCR FY2025: -3.8%FY18FY19FY20FY21FY22FY23FY24FY25
CNC -3.4%OSCR -3.8%
Revenue growth
CNC FY2019: +24.2%CNC FY2020: +48.9%CNC FY2021: +13.4%CNC FY2022: +14.7%CNC FY2023: +6.5%CNC FY2024: +5.9%CNC FY2025: +19.4%OSCR FY2021: -5.2%OSCR FY2021: +297.3%OSCR FY2022: +115.6%OSCR FY2023: +47.9%OSCR FY2024: +56.5%OSCR FY2025: +27.5%FY19FY20FY21FY22FY23FY24FY25
CNC +19.4%OSCR +27.5%
Free cash flow
CNC FY2018: $559MCNC FY2019: $753MCNC FY2020: $4.6BCNC FY2021: $3.3BCNC FY2022: $5.3BCNC FY2023: $7.3BCNC FY2024: -$490MCNC FY2025: $4.3BOSCR FY2019: -$191.4MOSCR FY2021: $208.7MOSCR FY2021: -$207.6MOSCR FY2022: $351.3MOSCR FY2023: -$297.7MOSCR FY2024: $950.3MOSCR FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
CNC $4.3BOSCR $1.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Centene and Oscar Health

Which is bigger by revenue, Centene or Oscar Health?

Centene is bigger by revenue: $194.8B in fiscal 2025, against $11.7B for Oscar Health in fiscal 2025.

Which keeps more of its revenue as profit, Centene or Oscar Health?

Centene had a net margin of -3.4% in fiscal 2025; Oscar Health had -3.8% in fiscal 2025.

Which grew revenue faster, Centene or Oscar Health?

In their latest fiscal years revenue changed by +19.4% at Centene and +27.5% at Oscar Health.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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