Molina Healthcare, Inc.MOH
NYSE•Healthcare•Healthcare Plans
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.
Molina Healthcare Inc (MOH) reported trailing twelve months revenue of $45.08B as of March 2026, a 7.7% increase year-over-year. Quarterly revenue reached $10.80B, reflecting continued top-line momentum.
Molina Healthcare Inc generated $188.00M in TTM net income, with quarterly EBITDA of $122.00M. The operating margin contracted from 3.9% to 0.8%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (0.8%) and net margin (0.1%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 2.7% a year ago, reflecting increased costs or interest expense.
MOH trades at a P/E of 54.2x (a premium multiple) and a P/S of 0.2x. The price-to-book ratio of 2.5x reflects a moderate premium to book value.
The company generated $1.05B in free cash flow over the trailing twelve months, a 528.0% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $16.39B in total assets with $3.77B in long-term debt against $4.08B in stockholders equity for a debt-to-equity ratio of 0.9. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 2.5%. The business may lack pricing power or face rising costs.'
ROE averages 20.2% but has fluctuated — the competitive advantage may be cyclical or emerging.
Only 3 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (6 of 7 quarters up), with ~20.5% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 76.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 0.9 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
5 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Shares decreased 12.4% — net buybacks are reducing shares outstanding and boosting per-share value.