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 35.6x (a premium multiple) and a P/S of 0.1x. The price-to-book ratio of 1.6x 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.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation