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Stock research / United States / MOH · Hospital & Medical Service Plans · NYSE

Molina Healthcare, Inc. (MOH)

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Molina Healthcare, Inc. (MOH) reported revenue of $10.9 billion for Q2 FY2026, the quarter ended 30 June 2026, down 4.8% on the same quarter a year earlier. Net income was $60 million, down 76.5% on the year, and diluted earnings per share $1.19. The figures are the company's own, from the 10-Q it filed with the SEC on 23 July 2026.

Revenue$10.9 billiondown 4.8%
Net income$60 milliondown 76.5%
Diluted EPS$1.19
QuarterQ2 FY2026ended 30 June 2026

Molina Healthcare (MOH) in brief

Molina Healthcare (MOH) reported revenue of $45.4 billion for fiscal 2025, the year ended 31 December 2025, up 11.7% on the year before.
Read moreNet income was $472 million and diluted earnings per share $8.92. Revenue was $40.6 billion in fiscal 2024, $34.1 billion in fiscal 2023, $32.0 billion in fiscal 2022 and $27.8 billion in fiscal 2021. Net income in the same years was $1.2 billion, $1.1 billion, $792 million and $659 million. Over the twelve months to 30 June 2026, Molina Healthcare reported revenue of $44.5 billion and net loss of $7 million. Revenue grew 18.5% a year, compounded, over the five years to fiscal 2025. Molina Healthcare had 52 million shares outstanding at the latest filed count. At the close of 8 October 2026 the market cap of Molina Healthcare was $10.2 billion.

Ratios

From the filings

ROE-0.2%
ROCE2.6%
Operating margin0.5%
Net margin-0.0%
FCF marginn/a
Interest cover0.97
Debt to equity0.90
Cash conversionn/a
Share count, 1 year-3.7%
Sales CAGR, 3 years12.4%
Profit CAGR, 3 years-15.8%
EPS, TTM-$0.18

At the close of 8 October 2026

Price$195.76
Market cap$10.2 billion
Stock P/En/a
Price to book2.44
EV / EBITDA24.16
Dividend yieldn/a
Market cap / sales0.23
52-week high$242.88
52-week low$122.65
Price, 1 year-3.5%
Price CAGR, 3 years-16.7%
Price CAGR, 5 years-6.9%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Molina Healthcare, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
MOHgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on MOH

Filings22 in twelve months: 13 current reports (8-K), about 6 regulation fd disclosure; 4 results of operations; 2 material agreement; 2 new financial obligation; 1 officer or director change
Planned insider sales4 Form 144 notices in twelve months, $3.6 million; latest 14 May 2026
Options tapeput/call 1.93 by open interest at the 8 October 2026 close; the straddle prices a 5.2% move to 16 October 2026
13F holders12 of the followed funds hold it; largest FMR LLC; 16 Schedule 13D or 13G filings in twelve months
Insider trading4 sales and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest3.2 million shares short, 5.84 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue8,5489,0489,9319,88010,34010,49911,14711,42711,47711,37510,79610,874
Cost of revenue7,3067,4548,4148,3688,6439,0039,4799,82910,04410,1369,2709,440
Gross profit1,2421,5941,5171,5121,6971,4961,6681,5981,4331,2391,5261,434
Gross margin15%18%15%15%16%14%15%14%12%11%14%13%
Operating income359316426434467380433373137-16283.0145
Operating margin4%3%4%4%5%4%4%3%1%-1%1%1%
Interest expense27.027.027.028.029.034.043.048.049.052.054.054.0
Pre-tax income33228939940643834639032588.0-21429.091.0
Tax rate26%25%25%26%26%27%24%22%10%n/a52%34%
Net income24521630130132625129825579.0-16014.060.0
Net margin3%2%3%3%3%2%3%2%1%-1%0%1%
Diluted EPS$4.21$3.70$5.17$5.17$5.65$4.44$5.45$4.75$1.51-$3.15$0.27$1.19
Operating cash flow949-690214-219873-224190-302-125-2981,082-294
Capital expenditure26.0n/a27.027.035.011.022.042.038.0n/a27.030.0
Free cash flow923n/a187-246838-235168-344-163n/a1,055-324
Buybacks0.0n/a0.00.05005005000.05000.00.00.0
Shares outstanding58m58m59m59m57m56m54m54m51m51m52m52m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Revenue9,66714,17817,78219,88318,89016,82919,42327,77131,97434,07240,65045,42644,522
Cost of revenuen/an/an/an/an/a13,90515,82023,70427,17528,66934,42839,48838,890
Gross profit1,0001,5271,7251,8102,5182,3032,4794,0674,7995,4036,2225,9385,632
Gross margin10.3%10.8%9.7%9.1%13.3%13.7%12.8%14.6%15.0%15.9%15.3%13.1%12.6%
Operating income193387306-5551,1311,0441,0781,0201,1731,5731,707781203
Operating margin2.0%2.7%1.7%-2.8%6.0%6.2%5.6%3.7%3.7%4.6%4.2%1.7%0.5%
Interest expense57.066.010111811587.0102120110109118192209
Pre-tax income135322205-6129999729618751,0631,4641,589589-6.0
Income tax73.0179153-1002922352882162713734101171.0
Effective tax rate54.1%55.6%74.6%n/a29.2%24.2%30.0%24.7%25.5%25.5%25.8%19.9%n/a
Net income62.014352.0-5127077376736597921,0911,179472-7.0
Net margin0.6%1.0%0.3%-2.6%3.7%4.4%3.5%2.4%2.5%3.2%2.9%1.0%-0.0%
Diluted EPS$1.29$2.58$0.92-$9.07$10.61$11.47$11.23$11.25$13.55$18.77$20.42$8.92-$0.18
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow1,0601,125673804-3144341,8982,1197731,662644-535365
Capital expenditure11513217686.030.057.074.077.091.084.0100101n/a
Free cash flow945993497718-3443771,8242,0426821,578544-636n/a
Free cash flow margin9.8%7.0%2.8%3.6%-1.8%2.2%9.4%7.4%2.1%4.6%1.3%-1.4%n/a
Cash from investing-536-1,420-206-1,0621,143-293-400-1,653-790-744-464312288
Cash from financing79.01,08519.0636-1,193-559217-183-441-58.0-347-170-152
Depreciation and amortisation13412618217812789.088.0131176171186195168
Share-based compensation22.023.026.046.027.039.057.072.010311511647.076.0
Buybacks0.00.0n/a0.00.047.06061284000.01,0001,000500
Diluted shares, weighted48m56m56m56m67m64m60m59m58m58m58m53m51m
Shares outstanding at period end50m56m57m60m62m62m59m58m58m58m56m51m52m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity1,0101,5571,6491,3371,6471,9602,0962,6302,9644,2154,4964,0694,171
Debt6901,4111,4461,3181,0201,2372,1272,1732,1762,1802,9233,7663,769
Operating lease liabilitiesn/an/an/an/an/a48.042.099.077.085.068.056.0n/a
Finance lease liabilitiesn/an/an/an/a197231225219215205195184184
Other liabilities2,7353,6084,3545,8164,2903,3115,0427,0886,8828,2077,9487,4897,879
Total liabilities and equity4,4356,5767,4498,4717,1546,7879,53212,20912,31414,89215,63015,56416,003
Owned
Fixed assets341393454342241n/an/an/an/an/an/an/an/a
Goodwill2725196201861431436929821,1151,2411,6711,958n/a
Intangible assets89.012214069.047.029.0249270275208267237n/a
Investments1,0191,8011,7582,5241,6811,9461,8753,2023,4994,2594,3254,0083,930
Cash and equivalents1,5392,3292,8193,1862,8262,4524,1544,4384,0064,8484,6624,2484,985
Receivables5965979748711,3301,4061,6722,1772,3023,1043,2993,5333,485
Other assets5788156841,2938868118901,1401,1171,2321,4061,5803,603
Total assets4,4356,5767,4498,4717,1546,7879,53212,20912,31414,89215,63015,56416,003
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded12.3%18.5%12.4%2.6%
Profit growth, compounded12.7%-6.8%-15.8%n/a
Return on equity, average19.3%23.1%21.2%11.6%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Insurance

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
UnitedHealth Group Inc. UNH$335.7 billion23.8713.5%4.8%6.5%0.672.4%
Elevance Health, Inc. ELV$86.9 billion17.8211.1%2.7%6.3%0.691.7%
Cigna Group CI$74.3 billion11.6315.1%3.5%7.8%0.682.1%
Humana Inc. HUM$46.5 billion36.626.7%1.9%18.3%0.620.9%
Centene Corp. CNC$31.9 billionn/a-22.6%-2.8%13.9%0.71n/a
Erie Indemnity Co. ERIE$11.8 billion20.5223.4%17.9%3.7%0.00n/a
American Financial Group Inc. AFG$11.8 billion12.4119.8%14.5%-0.2%0.385.1%
Fidelity National Financial, Inc. FNF$10.7 billion13.8610.4%11.3%13.0%0.595.1%
Molina Healthcare, Inc. MOH$10.2 billionn/a-0.2%0.5%2.6%0.90n/a
OLD Republic International Corp. ORI$9.3 billion8.4518.7%14.8%12.1%n/a9.5%
Voya Financial, Inc. VOYA$8.8 billion16.3013.0%9.1%3.2%0.451.9%
Primerica, Inc. PRI$8.5 billion11.0731.5%29.9%8.6%0.241.5%
All 52 in Insurance
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Berkshire Hathaway Inc. BRK.B$1.09 trillion12.7311.5%15.0%3.9%n/an/a
UnitedHealth Group Inc. UNH$335.7 billion23.8713.5%4.8%6.5%0.672.4%
Chubb Ltd. CB$132.6 billion12.1614.8%23.1%8.0%0.231.1%
Progressive Corp. PGR$127.2 billion10.9734.1%16.2%10.5%0.246.4%
Elevance Health, Inc. ELV$86.9 billion17.8211.1%2.7%6.3%0.691.7%
Marsh & Mclennan Companies, Inc. MRSH$83.0 billion21.2325.8%21.6%8.3%1.272.0%
Travelers Companies, Inc. TRV$77.2 billion9.8725.1%21.1%2.4%0.270.8%
Cigna Group CI$74.3 billion11.6315.1%3.5%7.8%0.682.1%
Manulife Financial Corporation MFC *$69.9 billion19.3511.1%n/an/a0.153.4%
Metlife Inc. MET$62.8 billion18.8313.2%8.3%8.7%0.522.3%
Arthur J. Gallagher & Co. AJG$60.0 billion38.816.6%12.6%26.3%0.571.1%
Aon plc AON$58.8 billion15.2840.8%26.5%4.9%1.351.1%
Allstate Corp. ALL$58.6 billion4.6139.4%23.2%5.9%0.221.7%
Aflac Inc. AFL$57.7 billion12.4016.0%32.0%13.6%0.282.0%
Humana Inc. HUM$46.5 billion36.626.7%1.9%18.3%0.620.9%
Sun Life Financial Inc. SLF *$42.0 billion17.5714.5%n/a8.0%0.333.5%
American International Group, Inc. AIG$40.4 billion14.097.3%13.6%-4.2%0.222.3%
Prudential Financial Inc. PRU$39.2 billion10.2912.4%7.6%9.4%0.624.8%
Hartford Insurance Group, Inc. HIG$35.1 billion8.3722.2%17.3%7.0%0.221.7%
Arch Capital Group Ltd. ACGL$32.8 billion7.5119.5%26.9%0.4%0.185.2%
Centene Corp. CNC$31.9 billionn/a-22.6%-2.8%13.9%0.71n/a
Everest Group, Ltd. EG$27.8 billion7.8912.4%13.4%-5.1%0.032.1%
Willis Towers Watson plc WTW$27.7 billion18.3220.4%22.2%3.0%0.751.2%
W. R. Berkley Corp. WRB$26.7 billion14.7919.6%n/a4.3%n/a2.6%
Cincinnati Financial Corp. CINF$25.4 billion7.7920.0%29.8%19.6%0.052.1%
Principal Financial Group Inc. PFG$23.6 billion15.6412.8%11.9%3.7%0.362.8%
Loews Corp. L$22.0 billion13.208.8%12.3%3.5%0.470.2%
Brown & Brown, Inc. BRO$21.0 billion20.119.6%n/a34.2%0.621.0%
Reinsurance Group of America Inc. RGA$16.7 billion11.2411.0%7.2%19.4%0.421.4%
Corebridge Financial, Inc. CRBG$15.3 billion20.128.5%5.4%29.1%0.832.8%
Globe Life Inc. GL$15.3 billion11.0319.7%24.2%5.2%0.480.7%
Unum Group UNM$14.7 billion21.596.5%6.8%3.4%0.351.9%
Equitable Holdings, Inc. EQH$14.6 billionn/an/a-5.7%-22.1%n/a2.0%
Renaissancere Holdings Ltd. RNR$13.9 billion5.6522.3%39.6%-14.0%0.200.5%
Assurant, Inc. AIZ$13.5 billion13.0317.4%9.9%9.4%0.351.2%
Erie Indemnity Co. ERIE$11.8 billion20.5223.4%17.9%3.7%0.00n/a
American Financial Group Inc. AFG$11.8 billion12.4119.8%14.5%-0.2%0.385.1%
Fidelity National Financial, Inc. FNF$10.7 billion13.8610.4%11.3%13.0%0.595.1%
Molina Healthcare, Inc. MOH$10.2 billionn/a-0.2%0.5%2.6%0.90n/a
OLD Republic International Corp. ORI$9.3 billion8.4518.7%14.8%12.1%n/a9.5%
Voya Financial, Inc. VOYA$8.8 billion16.3013.0%9.1%3.2%0.451.9%
Primerica, Inc. PRI$8.5 billion11.0731.5%29.9%8.6%0.241.5%
Kinsale Capital Group, Inc. KNSL$7.7 billion13.7627.9%35.7%15.8%0.110.2%
Hanover Insurance Group, Inc. THG$7.7 billion10.5920.6%15.4%5.6%0.23n/a
First American Financial Corp. FAF$6.4 billion8.7013.3%12.3%22.6%n/a3.5%
Mgic Investment Corp. MTG$5.8 billion8.7114.1%74.0%-1.9%0.132.2%
Essent Group Ltd. ESNT$5.7 billion8.8712.0%62.0%4.3%0.082.1%
RLI Corp. RLI$5.2 billion11.8325.0%28.0%8.7%0.174.7%
Selective Insurance Group Inc. SIGI$5.1 billion10.5613.6%11.5%7.0%0.251.8%
CNO Financial Group, Inc. CNO$5.0 billion18.4010.8%13.3%6.0%0.521.3%
Brighthouse Financial, Inc. BHF$2.8 billion3.9412.7%14.7%2.6%0.48n/a
Ryan Specialty Holdings, Inc. RYANn/an/a19.4%14.8%14.4%7.13n/a
5 companies share its SEC industry code (Hospital & Medical Service Plans); the rest are the names nearest in size in its wider industry, Insurance, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202623 July 2026EDGAR
10-Q31 March 202623 April 2026EDGAR
10-K31 December 202510 February 2026EDGAR
10-Q30 September 202523 October 2025EDGAR
10-Q30 June 202524 July 2025EDGAR
10-Q31 March 202524 April 2025EDGAR
10-K31 December 202411 February 2025EDGAR
10-Q30 September 202424 October 2024EDGAR
10-Q30 June 202425 July 2024EDGAR
10-Q31 March 202425 April 2024EDGAR

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