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UnitedHealth Group vs Centene: UNH and CNC compared
UnitedHealth Group is the larger company: $112.7B of revenue in its latest quarter (Q3 2026) against $50.6B for Centene (Q3 2026). Centene is growing faster (+2% against -0.4% a year earlier). UnitedHealth Group is more profitable, with an operating margin of 5.8% against -0.6%.
Where the money goes: UNH and CNC
UnitedHealth Group (UNH) · Q3 2026
UnitedHealth Group, Q3 2026: revenue $112.7B (-0.4% year over year), operating margin 5.8%, net earnings $4.1B, operating cash flow $5.1B. The chart follows the revenue to costs, profit and cash.
Centene (CNC) · Q3 2026
Centene, Q3 2026: revenue $50.6B (+2% year over year), operating margin -0.6%, net loss $65.0M, operating cash flow −$3.7B. The chart follows the revenue to costs, profit and cash.
| UnitedHealth Group (UNH) | Centene (CNC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $112.7B | $50.6B |
| Revenue growth, Y/Y | -0.4% | +2% |
| Operating margin | 5.8% | -0.6% |
| Net earnings | $4.1B | −$65.0M |
| Net margin | 3.6% | -0.1% |
| Operating cash flow | $5.1B | −$3.7B |
| Free cash flow | $4.3B | — |
| Market value | $355.5B | $36.7B |
| P/E | 22.5× | 24.6× |
| Analysts’ mean target | $476.64 | $75.39 |
Where the revenue comes from
Centene
- Medicaid: $29.6B (58%)
- Medicare: $11.3B (22%)
- Commercial: $8.7B (17%)
- Other: $1.1B (2%)
Questions
Which is bigger, UnitedHealth Group or Centene?
UnitedHealth Group is the larger company: $112.7B of revenue in its latest quarter (Q3 2026) against $50.6B for Centene (Q3 2026).
Is UnitedHealth Group or Centene growing faster?
Centene is growing faster (+2% against -0.4% a year earlier).
Which is more profitable, UnitedHealth Group or Centene?
UnitedHealth Group is more profitable, with an operating margin of 5.8% against -0.6%.
More: UnitedHealth Group earnings · how UnitedHealth Group makes money · Centene earnings · how Centene makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Oct 27, 2026). Fiscal quarters can end on different dates. Not investment advice.