A Business at a Glance
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PART I ABOUT MOLINA HEALTHCARE Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs, and through the state insurance marketplaces (the “Marketplace”). Molina was founded in 1980 as a provider organization serving low-income families in Southern California and reincorporated in Delaware in 2002. We served approximately 5.5 million members as of December 31, 2025, located across 21 states. Our business footprint, as of December 31, 2025, is illustrated below. FINANCIAL HIGHLIGHTS Year Ended December 31, (In millions, except per-share amounts) Premium Revenue$43,052 $38,627 Total Revenue$45,426 $40,650 Medical Care Ratio (“MCR”) (1) Net Income$472 $1,179 Net Income per Diluted Share$8.92 $20.42 (1)Medical care ratio represents medical care costs as a percentage of premium revenue. OUR SEGMENTS We currently have four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 45.4B | 45.4B | 40.6B | 34.1B | 32.0B | 27.8B |
| Net Income | 472M | 472M | 1.2B | 1.1B | 792M | 659M |
| EPS | $8.92 | $8.92 | $20.42 | $18.77 | $13.55 | $11.25 |
| Free Cash Flow | -636M | -636M | 544M | 1.6B | 682M | 2.0B |
| ROIC | 17.3% | 6.2% | 15.9% | 17.1% | 15.4% | 13.7% |
| Gross Margin | 13.1% | 13.1% | 15.3% | 15.9% | 15.0% | 14.6% |
| Debt/Equity | 0.93 | 0.93 | 0.66 | 0.52 | 0.74 | 0.83 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 781M | 781M | 1.7B | 1.6B | 1.2B | 1.0B |
| Operating Margin | 1.7% | 1.7% | 4.2% | 4.6% | 3.7% | 3.7% |
| ROE | 11.6% | 11.0% | 26.2% | 25.9% | 26.7% | 25.1% |
| Shares Outstanding | 53M | 53M | 58M | 58M | 58M | 59M |
MOLINA HEALTHCARE, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
MOLINA HEALTHCARE, INC. trades at 16.8x trailing earnings, compared to its 15-year median P/E of 18.5x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 13.7% with a gross margin of 14.8%. Total shareholder yield (buybacks) is 12.6%. At current prices, the estimated annualized return to fair value is +5.4%.
MOLINA HEALTHCARE, INC. (MOH) has a current P/E ratio of 16.8, compared to its historical median P/E of 18.5. The stock is currently considered Fair based on its historical valuation range.
MOLINA HEALTHCARE, INC. (MOH) has a 5-year average return on invested capital (ROIC) of 13.7%. This indicates solid capital allocation.
MOLINA HEALTHCARE, INC. (MOH) has a market capitalization of $7.9B. It is classified as a mid-cap stock.
MOLINA HEALTHCARE, INC. (MOH) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 12.60%.
Based on historical P/E analysis, MOLINA HEALTHCARE, INC. (MOH) appears fair. The current P/E of 16.8 is 9% below its historical median of 18.5. The estimated fair value CAGR (P/E method) is 13.2%.
MOLINA HEALTHCARE, INC. (MOH) operates in the Hospital & Medical Service Plans industry, within the Financials sector.
MOLINA HEALTHCARE, INC. (MOH) reported annual revenue of $45.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
MOLINA HEALTHCARE, INC. (MOH) has a net profit margin of 1.0%. This is a modest margin.
MOLINA HEALTHCARE, INC. (MOH) generated $-636 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
MOLINA HEALTHCARE, INC. (MOH) has a debt-to-equity ratio of 0.93. This indicates moderate leverage.
MOLINA HEALTHCARE, INC. (MOH) reported earnings per share (EPS) of $8.92 in its most recent fiscal year.
MOLINA HEALTHCARE, INC. (MOH) has a return on equity (ROE) of 11.0%. This indicates moderate shareholder returns.
MOLINA HEALTHCARE, INC. (MOH) has a 5-year average gross margin of 14.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for MOLINA HEALTHCARE, INC. (MOH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MOLINA HEALTHCARE, INC. (MOH) has a book value per share of $76.90, based on its most recent annual SEC filing.