CNC FY 2013 Earnings Report — Centene Corporation Revenue & Financial Results | Market Cap Arena

Centene CorporationCNC

FY 2013 Earnings

Reported February 21, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$10.9B	—	—	—	—
Op. Income	$277M	—	—	—	—
Gross Margin	11.1%	—	—	—	—
Net Margin	1.5%	—	—	—	—
EPS (Diluted)	$0.74	—	—	—	—
Free Cash Flow	$315M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$10.9B
Cost of Revenue	$9.7B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$931M
SG&A Expenses	$931M
Other Expenses	$0
Operating Expenses	$931M
Cost & Expenses	$10.6B
OPERATING INCOME	$277M
Interest Income	$0
Interest Expense	$27M
Other Income/Expenses	-$8M
INCOME BEFORE TAX	$269M
Income Tax Expense	$107M
Net Income from Continuing Ops	$162M
Net Income from Discontinued Ops	$4M
Other Adjustments	$0
NET INCOME	$165M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$165M
D&A	$67M
EBIT	$296M
EBITDA	$363M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$10.9B
Cost of Revenue	$9.7B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$931M
SG&A Expenses	$931M
Other Expenses	$0
Operating Expenses	$931M
Cost & Expenses	$10.6B
OPERATING INCOME	$277M
Interest Income	$0
Interest Expense	$27M
Other Income/Expenses	-$8M
INCOME BEFORE TAX	$269M
Income Tax Expense	$107M
Net Income from Continuing Ops	$162M
Net Income from Discontinued Ops	$4M
Other Adjustments	$0
NET INCOME	$165M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$165M
D&A	$67M
EBIT	$296M
EBITDA	$363M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$166M
Depreciation & Amortization	$67M
Stock-Based Compensation	$37M
Deferred Income Tax	-$2M
Other Non-Cash Items	$154M
Change in Working Capital	$115M
OPERATING CASH FLOW	$383M
Capital Expenditure	-$68M
Acquisitions (Net)	-$63M
Purchases of Investments	-$791M
Sales/Maturities of Investments	$579M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$342M
Net Debt Issuance	$135M
Common Stock Repurchased	-$20M
Common Dividends Paid	$0
Other Financing Activities	$6M
NET CASH FROM FINANCING	$146M
FREE CASH FLOW	$315M
Net Change in Cash	$228M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.0B
Short-Term Investments	$102M
Net Receivables	$429M
Inventory	$14M
Other Current Assets	$231M
TOTAL CURRENT ASSETS	$1.8B
PP&E (Net)	$395M
Goodwill	$348M
Intangible Assets	$49M
Long-Term Investments	$792M
Tax Assets	$0
Other Non-Current Assets	$145M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$3.5B
Account Payables	$338M
Short-Term Debt	$3M
Deferred Revenue	$38M
Other Current Liabilities	$1.1B
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$666M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$61M
TOTAL NON-CURRENT LIABILITIES	$727M
TOTAL LIABILITIES	$2.3B
Common Stock	$59.0K
Additional Paid-In Capital	$594M
Retained Earnings	$732M
Treasury Stock	-$89M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$9M
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$669M
Net Debt	-$369M