MOH MOLINA HEALTHCARE, INC.

Overview and Growth

In fiscal 2025, MOLINA HEALTHCARE, INC. recorded $45.43B of revenue, net income of $472.00M, and an operating cash outflow of $535.00M. The $45.43B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 11.7% from $40.65B in fiscal 2024, increasing the company’s operating scale. The company reported diluted EPS of $8.92, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS decreased by 56.3% from $20.42 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The revenue-to-assets relationship was 2.92x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $5.94B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 13.1%, so that share of each revenue unit remained after the cost of revenue reported for the period. The reported operating result was $781.00M, capturing profitability after direct costs and the operating expenses reflected in the statements. Operating margin measured 1.7%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $472.00M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 1.0% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $589.00M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 1.3% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $117.00M, the amount recognized between pretax income and the final net-income result. The effective relationship between income tax and positive pretax income was 19.9%, without assuming a statutory-rate comparison. Net income equaled 11.6% of period-end equity, showing the earnings generated on shareholders’ book capital.

Liquidity and Capital Structure

The company held $15.56B of assets against $11.49B of liabilities and $4.07B of equity, revealing how the asset base was financed. At period end, current assets of $12.44B compared with current liabilities of $7.37B, defining the company’s short-term resource position. The current ratio was 1.69x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $4.25B in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 57.6% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $3.77B, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.93x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 24.2%, showing how much of the asset base was matched by borrowing. Liabilities represented 73.9% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 27.3% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 0.4% from $15.63B in fiscal 2024, leaving current total assets lower year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $535.00M, rather than cash generation from operations. Capital spending of $101.00M added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Operating cash flow and capital spending combined to leave a $636.00M cash deficit after capital spending. Relative to revenue, the post-investment cash deficit represented 1.4%. Relative to total assets, the post-investment cash deficit measured 4.1%.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.