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Stocks · Health care · Hospital & Medical Service Plans

MOLINA HEALTHCARE, INC.

MOH Clue Score45
United States Fiscal year ends December CIK 0001179929
$196.93 +0.60% Close, 9 Oct 2026
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Price $196.93 −29.45% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue17.78Operating income0.31Net income0.05EPS, diluted0.92Fiscal year 2017Revenue19.88 +11.8%Operating income−0.56Net income−0.51 −1,084.6%EPS, diluted−9.07 −1,085.9%Fiscal year 2018Revenue18.89 −5.0%Operating income1.13Net income0.71EPS, diluted10.61Fiscal year 2019Revenue16.83 −10.9%Operating income1.04Net income0.74 +4.2%EPS, diluted11.47 +8.1%Fiscal year 2020Revenue19.42 +15.4%Operating income1.08Net income0.67 −8.7%EPS, diluted11.23 −2.1%Fiscal year 2021Revenue27.77 +43.0%Operating income1.02Net income0.66 −2.1%EPS, diluted11.25 +0.2%Fiscal year 2022Revenue31.97 +15.1%Operating income1.17Net income0.79 +20.2%EPS, diluted13.55 +20.4%Fiscal year 2023Revenue34.07 +6.6%Operating income1.57Net income1.09 +37.8%EPS, diluted18.77 +38.5%Fiscal year 2024Revenue40.65 +19.3%Operating income1.71Net income1.18 +8.1%EPS, diluted20.42 +8.8%Fiscal year 2025Revenue45.43 +11.7%Operating income0.78Net income0.47 −60.0%EPS, diluted8.92 −56.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 17.78 19.88 18.89 16.83 19.42 27.77 31.97 34.07 40.65 45.43
Growth +11.8% −5.0% −10.9% +15.4% +43.0% +15.1% +6.6% +19.3% +11.7%
Operating income 0.31 −0.56 1.13 1.04 1.08 1.02 1.17 1.57 1.71 0.78
Net income 0.05 −0.51 0.71 0.74 0.67 0.66 0.79 1.09 1.18 0.47
Growth −1,084.6% +4.2% −8.7% −2.1% +20.2% +37.8% +8.1% −60.0%
EPS, diluted 0.92 −9.07 10.61 11.47 11.23 11.25 13.55 18.77 20.42 8.92
Growth −1,085.9% +8.1% −2.1% +0.2% +20.4% +38.5% +8.8% −56.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin9.7%Operating margin1.7%Net margin0.3%Free cash flow margin2.8%Fiscal year 2017Gross margin9.1%Operating margin−2.8%Net margin−2.6%Free cash flow margin3.6%Fiscal year 2018Gross margin13.3%Operating margin6.0%Net margin3.7%Free cash flow margin−1.8%Fiscal year 2019Gross margin13.7%Operating margin6.2%Net margin4.4%Free cash flow margin2.2%Fiscal year 2020Gross margin12.8%Operating margin5.6%Net margin3.5%Free cash flow margin9.4%Fiscal year 2021Operating margin3.7%Net margin2.4%Free cash flow margin7.4%Fiscal year 2022Operating margin3.7%Net margin2.5%Free cash flow margin2.1%Fiscal year 2023Operating margin4.6%Net margin3.2%Free cash flow margin4.6%Fiscal year 2024Operating margin4.2%Net margin2.9%Free cash flow margin1.3%Fiscal year 2025Operating margin1.7%Net margin1.0%Free cash flow margin−1.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 9.7% 9.1% 13.3% 13.7% 12.8% n/a n/a n/a n/a n/a
Operating margin 1.7% −2.8% 6.0% 6.2% 5.6% 3.7% 3.7% 4.6% 4.2% 1.7%
Net margin 0.3% −2.6% 3.7% 4.4% 3.5% 2.4% 2.5% 3.2% 2.9% 1.0%
Free cash flow margin 2.8% 3.6% −1.8% 2.2% 9.4% 7.4% 2.1% 4.6% 1.3% −1.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.67Capital expenditure−0.18Free cash flow0.50Fiscal year 2017Operating cash flow0.80Capital expenditure−0.09Free cash flow0.72 +44.5%Buybacks0.00Fiscal year 2018Operating cash flow−0.31Capital expenditure−0.03Free cash flow−0.34 −147.9%Buybacks0.00Fiscal year 2019Operating cash flow0.43Capital expenditure−0.06Free cash flow0.38Buybacks−0.05Fiscal year 2020Operating cash flow1.90Capital expenditure−0.07Free cash flow1.82 +383.8%Buybacks−0.61Fiscal year 2021Operating cash flow2.12Capital expenditure−0.08Free cash flow2.04 +12.0%Buybacks−0.13Fiscal year 2022Operating cash flow0.77Capital expenditure−0.09Free cash flow0.68 −66.6%Buybacks−0.40Fiscal year 2023Operating cash flow1.66Capital expenditure−0.08Free cash flow1.58 +131.4%Buybacks0.00Fiscal year 2024Operating cash flow0.64Capital expenditure−0.10Free cash flow0.54 −65.5%Buybacks−1.00Fiscal year 2025Operating cash flow−0.54Capital expenditure−0.10Free cash flow−0.64 −216.9%Buybacks−1.00
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.67 0.80 −0.31 0.43 1.90 2.12 0.77 1.66 0.64 −0.54
Capital expenditure −0.18 −0.09 −0.03 −0.06 −0.07 −0.08 −0.09 −0.08 −0.10 −0.10
Free cash flow 0.50 0.72 −0.34 0.38 1.82 2.04 0.68 1.58 0.54 −0.64
Growth +44.5% −147.9% +383.8% +12.0% −66.6% +131.4% −65.5% −216.9%
Buybacks n/a 0.00 0.00 −0.05 −0.61 −0.13 −0.40 0.00 −1.00 −1.00

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash2.82Total debt1.45Net cash (debt)1.37Shareholders’ equity1.65Debt to equity0.88Fiscal year 2017Cash3.19Total debt1.32Net cash (debt)1.87Shareholders’ equity1.34Debt to equity0.99Fiscal year 2018Cash2.83Total debt1.02Net cash (debt)1.81Shareholders’ equity1.65Debt to equity0.62Fiscal year 2019Cash2.45Total debt1.26Net cash (debt)1.20Shareholders’ equity1.96Debt to equity0.64Fiscal year 2020Cash4.15Total debt2.13Net cash (debt)2.03Shareholders’ equity2.10Debt to equity1.01Fiscal year 2021Cash4.44Total debt2.17Net cash (debt)2.27Shareholders’ equity2.63Debt to equity0.83Fiscal year 2022Cash4.01Total debt2.18Net cash (debt)1.83Shareholders’ equity2.96Debt to equity0.73Fiscal year 2023Cash4.85Total debt2.18Net cash (debt)2.67Shareholders’ equity4.22Debt to equity0.52Fiscal year 2024Cash4.66Total debt2.92Net cash (debt)1.74Shareholders’ equity4.50Debt to equity0.65Fiscal year 2025Cash4.25Total debt3.77Net cash (debt)0.48Shareholders’ equity4.07Debt to equity0.93
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.82 3.19 2.83 2.45 4.15 4.44 4.01 4.85 4.66 4.25
Total debt 1.45 1.32 1.02 1.26 2.13 2.17 2.18 2.18 2.92 3.77
Net cash (debt) 1.37 1.87 1.81 1.20 2.03 2.27 1.83 2.67 1.74 0.48
Shareholders’ equity 1.65 1.34 1.65 1.96 2.10 2.63 2.96 4.22 4.50 4.07
Debt to equity 0.88 0.99 0.62 0.64 1.01 0.83 0.73 0.52 0.65 0.93

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
9.7% 9.1% 13.3% 13.7% 12.8% n/a n/a n/a n/a n/a
1.7% −2.8% 6.0% 6.2% 5.6% 3.7% 3.7% 4.6% 4.2% 1.7%
1.2% −3.1% 5.3% 5.8% 4.9% 3.2% 3.3% 4.3% 3.9% 1.3%
0.3% −2.6% 3.7% 4.4% 3.5% 2.4% 2.5% 3.2% 2.9% 1.0%
2.8% 3.6% −1.8% 2.2% 9.4% 7.4% 2.1% 4.6% 1.3% −1.4%
Spending
7.8% 8.0% 7.1% 7.7% 7.6% 7.4% 7.2% 7.2% 6.7% 6.6%
1.0% 0.4% 0.2% 0.3% 0.4% 0.3% 0.3% 0.2% 0.2% 0.2%
74.6% n/a 29.2% 24.2% 30.0% 24.7% 25.5% 25.5% 25.8% 19.9%
Returns
3.2% −38.3% 42.9% 37.6% 32.1% 25.1% 26.7% 25.9% 26.2% 11.6%
0.7% −6.0% 9.9% 10.9% 7.1% 5.4% 6.4% 7.3% 7.5% 3.0%
Balance and payout
0.88 0.99 0.62 0.64 1.01 0.83 0.73 0.52 0.65 0.93
77.9% 84.2% 77.0% 71.1% 78.0% 78.5% 75.9% 71.7% 71.2% 73.9%
n/a 0.0% n/a 12.5% 33.2% 6.3% 58.7% 0.0% 183.8% n/a