Tuesday 3 November 2026 Export MOH’s income statement to Excel — free account

Molina Healthcare, Inc

Molina Healthcare, Inc’s revenue for fiscal 2025 (year ended December 2025) was $45.4 billion, up 11.7% from fiscal 2024.

Revenue: −3.44%
EPS: −51.7%
Free cash flow: −20.3%
Total debt: +2.54%

Quarter to September 2026, against a year earlier

208.21 3.43 +1.67%

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Market cap: $10.9B
P/E: 0.0×
Fwd P/E: 59.6×
Dividend yield: —
F-score: 4/9
Altman Z: 4.28
Beneish M: −1.99
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Filings

Molina Healthcare, Inc (MOH) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2023: revenue by segment, and margins
Medicaid	27,707	81.32%
Medicare	4,227	12.41%
Marketplace	2,062	6.05%
Other	76	0.22%
Gross margin		15.86%
Operating margin		4.62%
Pre-tax margin		4.30%

Revenue by segment $m

Line	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013
Medicaid	27,707 81.32%	25,783 80.64%	21,231 76.45%	15,217 78.35%	13,026 77.40%	18,471 97.78%	19,352 97.33%	17,234 96.92%	13,917 98.16%	9,449 97.74%	6,376 96.77%
Medicare	4,227 12.41%	3,824 11.96%	3,379 12.17%	2,529 13.02%	2,265 13.46%	—	—	—	—	—	—
Marketplace	2,062 6.05%	2,296 7.18%	3,091 11.13%	1,677 8.63%	1,538 9.14%	—	—	—	—	—	—
Other	76 0.22%	71 0.22%	70 0.25%	0 0.00%	0 0.00%	419 2.22%	531 2.67%	548 3.08%	66 0.47%	8 0.08%	8 0.12%
Medicaid Solutions	—	—	—	—	—	—	—	—	195 1.38%	210 2.17%	205 3.11%
Revenue	34,072	31,974	27,771	19,423	16,829	18,890	19,883	17,782	14,178	9,667	6,589

Operating income by segment $m, and margin

	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013
Medicaid	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicaid Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Consolidated medical care ratio	Q3 FY2026	92.9%	92.6%	—
Days in claims payable	Q3 FY2026	44.00	46.00	−4.35%
Ending membership	Q3 FY2026	4.9M	5.6M	−13.61%
Marketplace ending membership	Q3 FY2026	267.0K	713.0K	−62.55%
Marketplace medical care ratio	Q3 FY2026	92.5%	95.6%	—
Medicaid ending membership	Q3 FY2026	4.4M	4.6M	−5.76%
Medicaid medical care ratio	Q3 FY2026	93.0%	92.0%	—
Medicare ending membership	Q3 FY2026	222.0K	266.0K	−16.54%
Medicare medical care ratio	Q3 FY2026	93.0%	93.6%	—
Other ending membership	Q3 FY2026	1.0K	10.0K	−90.00%
Other medical care ratio	Q1 FY2026	88.4%	87.7%	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024
Consolidated medical care ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Days in claims payable	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Ending membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Marketplace ending membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Marketplace medical care ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicaid ending membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicaid medical care ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicare ending membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Medicare medical care ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other ending membership	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other medical care ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.