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Molina Healthcare, Inc. provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces in the United States. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company was founded in 1980 and is headquartered in Long Beach, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $45.4B | $976M | $472M | $-636M | 11.6% | 11.7% | -60.0% |
| 2024 | $40.6B | $1.9B | $1.2B | $544M | 26.2% | 19.3% | 8.1% |
| 2023 | $34.1B | $1.7B | $1.1B | $1.6B | 25.9% | 6.6% | 37.8% |
| 2022 | $32.0B | $1.3B | $792M | $682M | 26.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 31,974 | 34,072 | 40,650 | 45,426 |
| Cost Of Revenue | - | 28,048 | 29,738 | 35,914 | 41,351 |
| Gross Profit | - | 3,926 | 4,334 | 4,736 | 4,075 |
| Operating Expense | - | 2,545 | 2,761 | 3,029 | 3,294 |
| Operating Income | - | 1,381 | 1,573 | 1,707 | 781 |
| EBITDA | - | 1,349 | 1,744 | 1,893 | 976 |
| EBIT | - | 1,173 | 1,573 | 1,707 | 781 |
| Pretax Income | - | 1,063 | 1,464 | 1,589 | 589 |
| Tax Provision | - | 271 | 373 | 410 | 117 |
| Net Income | - | 792 | 1,091 | 1,179 | 472 |
| Net Income Common Stockholders | - | 792 | 1,091 | 1,179 | 472 |
| Total Expenses | - | 30,593 | 32,499 | 38,943 | 44,645 |
| Interest Expense | - | 110 | 109 | 118 | 192 |
| Selling General And Administration | - | 2,311 | 2,462 | 2,743 | 3,009 |
| Normalized EBITDA | - | 1,557 | 1,744 | 1,893 | 976 |
| Normalized Income | - | 946.97 | 1,091 | 1,179 | 472 |
| Market Cap | 9,166.47 | 9,166.47 | 9,166.47 | 9,166.47 | 9,166.47 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Molina Healthcare, Inc.this co. | MOH | $9.3B | 19.42↓ discount | 2.25 | 11.6% | 9.09 |
| Revvity, Inc. | RVTY | $10.1B | 40.22 | 1.34 | 3.3% | 15.90 |
| Bio-Techne Corporation | TECH | $8.5B | 115.50 | 4.42 | 3.8% | 40.39 |
| Krystal Biotech, Inc. | KRYS | $7.9B | 39.16 | 6.58 | 16.8% | 44.89 |
| Alkermes plc | ALKS | $5.5B | 22.97 |
| - |
| - |
| - |
| - |
| - |
| - |
| 3.05 |
| 13.3% |
| 15.81 |
| PTC Therapeutics, Inc. | PTCT | $5.4B | 8.29 | -27.55 | -332.5% | 8.31 |
| TG Therapeutics, Inc. | TGTX | $5.3B | 13.08 | 9.02 | 69.0% | 44.82 |
| Apellis Pharmaceuticals, Inc. | APLS | $5.1B | 233.78 | 14.14 | 6.0% | 74.89 |
| Corcept Therapeutics Incorporated | CORT | $4.8B | 49.62 | 7.63 | 15.4% | 103.46 |
| Peer Median | - | 39.69 | 5.50 | 9.7% | 42.61 | |