financial statements

The full income statement, balance sheet, and cash-flow statement for Molina Healthcare (MOH), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	45.4B YoY+11.7%	40.6B YoY+19.3%	34.1B YoY+6.6%	32.0B YoY+15.1%	27.8B YoY+43.0%
Cost of revenue	39.5B YoY+14.7%	34.4B YoY+20.1%	28.7B YoY+5.5%	27.2B YoY+14.6%	23.7B YoY+49.8%
Selling, general & administrative	3.01B YoY+9.7%	2.74B YoY+11.4%	2.46B YoY+6.5%	2.31B YoY+11.8%	2.07B YoY+39.7%
General & administrative	3.01B YoY+9.7%	2.74B YoY+11.4%	2.46B YoY+6.5%	2.31B YoY+11.8%	2.07B YoY+39.7%
Amortization of intangibles	91.0M YoY+11.0%	82.0M YoY-3.5%	85.0M YoY+10.4%	77.0M YoY+57.1%	49.0M YoY+226.7%
Operating income	781M YoY-54.2%	1.71B YoY+8.5%	1.57B YoY+34.1%	1.17B YoY+15.0%	1.02B YoY-5.4%
Interest expense	192M YoY+62.7%	118M YoY+8.3%	109M YoY-0.9%	110M YoY-8.3%	120M YoY+17.6%
Interest & investment income	—	—	—	75.0M YoY-2.6%	77.0M YoY+352.9%
Other non-operating income	—	—	0.00	0.00 YoY+100.0%	-25.0M YoY-66.7%
Pre-tax income	589M YoY-62.9%	1.59B YoY+8.5%	1.46B YoY+37.7%	1.06B YoY+21.5%	875M YoY-8.9%
Income tax	117M YoY-71.5%	410M YoY+9.9%	373M YoY+37.6%	271M YoY+25.5%	216M YoY-25.0%
Net income	472M YoY-60.0%	1.18B YoY+8.1%	1.09B YoY+37.8%	792M YoY+20.2%	659M YoY-2.1%
	$8.92 YoY-56.3%	$20.42 YoY+8.8%	$18.77 YoY+38.5%	$13.55 YoY+20.4%	$11.25 YoY+0.2%
EPS (basic)	$8.93 YoY-56.5%	$20.52 YoY+8.5%	$18.91 YoY+37.8%	$13.72 YoY+20.4%	$11.40 YoY+0.0%
Weighted-avg shares (basic)	52.8M YoY-8.0%	57.4M YoY-0.5%	57.7M YoY-0.2%	57.8M YoY+0.0%	57.8M YoY-2.0%
Weighted-avg shares (diluted)	52.9M YoY-8.3%	57.7M YoY-0.7%	58.1M YoY-0.7%	58.5M YoY-0.2%	58.6M YoY-2.2%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	12.4B YoY-2.6%	12.8B YoY+1.8%	12.5B YoY+24.4%	10.1B YoY+0.2%	10.1B YoY+27.8%
Cash & equivalents	4.25B YoY-8.9%	4.66B YoY-3.8%	4.85B YoY+21.0%	4.01B YoY-9.7%	4.44B YoY+6.8%
Short-term investments	4.01B YoY-7.3%	4.33B YoY+1.5%	4.26B YoY+21.7%	3.50B YoY+9.3%	3.20B YoY+70.8%
Accounts receivable	3.53B YoY+7.1%	3.30B YoY+6.3%	3.10B YoY+34.8%	2.30B YoY+5.7%	2.18B YoY+30.2%
Prepaid expenses	655M YoY+34.5%	487M YoY+47.1%	331M YoY+19.5%	277M YoY+12.1%	247M YoY+41.1%
Other current assets	120M YoY+0.0%	120M YoY+0.0%	120M YoY+0.0%	120M YoY+0.0%	120M YoY+0.0%
	15.6B YoY-0.4%	15.6B YoY+5.0%	14.9B YoY+20.9%	12.3B YoY+0.9%	12.2B YoY+28.1%
Property, plant & equipment	379M YoY+0.0%	379M YoY+0.0%	379M YoY+0.0%	379M YoY+0.0%	379M YoY+0.0%
Operating lease right-of-use	30.0M YoY-14.3%	35.0M YoY-72.7%	128M YoY+0.0%	128M YoY+0.0%	128M YoY+80.3%
Goodwill	1.96B YoY+17.2%	1.67B YoY+34.6%	1.24B YoY+11.3%	1.11B YoY+13.5%	982M YoY+41.9%
Intangible assets	237M YoY-11.2%	267M YoY+28.4%	208M YoY-24.4%	275M YoY+1.9%	270M YoY+8.4%
Long-term investments	10.9M YoY+0.0%	10.9M YoY+0.0%	10.9M YoY+0.0%	10.9M YoY+0.0%	10.9M YoY+0.0%
Deferred tax assets	178M YoY-14.0%	207M YoY-8.8%	227M YoY+3.2%	220M YoY+107.5%	106M YoY+53.6%
Other non-current assets	147M YoY+6.5%	138M YoY-3.5%	143M YoY+16.3%	123M YoY-31.3%	179M YoY+50.4%
	7.37B YoY-6.6%	7.90B YoY-3.3%	8.17B YoY+19.2%	6.86B YoY-2.7%	7.05B YoY+41.9%
Accrued liabilities	1.09B YoY-17.9%	1.33B YoY+6.3%	1.25B YoY+40.8%	889M YoY+5.6%	842M YoY+31.4%
Deferred revenue	66.0M YoY+29.4%	51.0M YoY-87.8%	418M YoY+16.4%	359M YoY-3.0%	370M YoY-1.3%
Short-term & current debt	0.00	0.00	0.00	0.00	0.00
Current lease liability	15.0M YoY+0.0%	15.0M YoY-25.0%	20.0M YoY-51.2%	41.0M YoY+17.1%	35.0M YoY+66.7%
	11.5B YoY+3.2%	11.1B YoY+4.3%	10.7B YoY+14.2%	9.35B YoY-2.4%	9.58B YoY+28.8%
Long-term debt	3.77B YoY+28.8%	2.92B YoY+34.1%	2.18B YoY+0.2%	2.18B YoY+0.1%	2.17B YoY+2.2%
Non-current lease liability	56.0M YoY-17.6%	68.0M YoY-20.0%	85.0M YoY+10.4%	77.0M YoY-22.2%	99.0M YoY+135.7%
Deferred tax liabilities	0.00	0.00	0.00	0.00	0.00
Other non-current liabilities	173M YoY+44.2%	120M YoY-3.2%	124M YoY+19.2%	104M YoY-25.7%	140M YoY+17.6%
	4.07B YoY-9.5%	4.50B YoY+6.7%	4.21B YoY+42.2%	2.96B YoY+12.7%	2.63B YoY+25.5%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Additional paid-in capital	452M YoY-2.2%	462M YoY+12.7%	410M YoY+25.0%	328M YoY+39.0%	236M YoY+18.6%
Retained earnings	3.60B YoY-12.0%	4.09B YoY+5.2%	3.89B YoY+39.0%	2.80B YoY+16.5%	2.40B YoY+29.0%
Treasury stock	0.00	0.00	0.00	0.00	0.00
Accumulated other comprehensive income	15.0M YoY+126.3%	-57.0M YoY+30.5%	-82.0M YoY+48.8%	-160M YoY-3100.0%	-5.00M YoY-113.5%
Total equity incl. non-controlling	2.52B YoY+0.0%	2.52B YoY+0.0%	2.52B YoY+0.0%	2.52B YoY+0.0%	2.52B YoY+20.1%
Total liabilities & equity	15.6B YoY-0.4%	15.6B YoY+5.0%	14.9B YoY+20.9%	12.3B YoY+0.9%	12.2B YoY+28.1%
Common shares outstanding	51.0M YoY-8.9%	56.0M YoY-3.4%	58.0M YoY+0.0%	58.0M YoY+0.0%	58.0M YoY-1.7%
Shares outstanding (cover)	51.4M YoY-10.1%	57.2M YoY-1.9%	58.3M YoY-0.2%	58.4M YoY+0.0%	58.4M YoY-1.5%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	-535M YoY-183.1%	644M YoY-61.3%	1.66B YoY+115.0%	773M YoY-63.5%	2.12B YoY+11.6%
Depreciation & amortization	195M YoY+4.8%	186M YoY+8.8%	171M YoY-2.8%	176M YoY+34.4%	131M YoY+48.9%
Share-based compensation	47.0M YoY-59.5%	116M YoY+0.9%	115M YoY+11.7%	103M YoY+43.1%	72.0M YoY+26.3%
Deferred income taxes	43.0M YoY-18.9%	53.0M YoY+271.0%	-31.0M YoY+53.0%	-66.0M YoY-175.0%	-24.0M YoY-26.3%
Other operating activities	-3.00M YoY-137.5%	8.00M YoY+300.0%	2.00M YoY-75.0%	8.00M YoY-75.8%	33.0M YoY+175.0%
	312M YoY+167.2%	-464M YoY+37.6%	-744M YoY+5.8%	-790M YoY+52.2%	-1.65B YoY-313.3%
Capital expenditure	101M YoY+1.0%	100M YoY+19.0%	84.0M YoY-7.7%	91.0M YoY+18.2%	77.0M YoY+4.1%
Acquisitions	245M YoY-28.8%	344M YoY+11366.7%	3.00M YoY-97.8%	134M YoY+3.9%	129M YoY-82.9%
Other investing activities	-1.00M YoY+0.0%	-1.00M YoY+75.0%	-4.00M YoY-108.0%	50.0M YoY-20.6%	63.0M YoY+3250.0%
	-170M YoY+51.0%	-347M YoY-498.3%	-58.0M YoY+86.8%	-441M YoY-141.0%	-183M YoY-184.3%
Common stock repurchased	1.00B YoY+0.0%	1.00B	0.00 YoY-100.0%	400M YoY+212.5%	128M YoY-78.9%
Other financing activities	29.0M YoY+196.7%	-30.0M YoY-1600.0%	2.00M YoY-93.9%	33.0M YoY+3200.0%	1.00M YoY-50.0%
Net change in cash	-393M YoY-135.3%	-167M YoY-119.4%	860M YoY+287.8%	-458M YoY-261.8%	283M YoY-83.5%
Interest paid	181M YoY+49.6%	121M YoY+12.0%	108M YoY+0.0%	108M YoY-15.0%	127M YoY+13.4%
Income taxes paid	275M YoY-27.4%	379M YoY-6.4%	405M YoY+19.1%	340M YoY+44.7%	235M YoY-26.8%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	8.92B YoY-46.4%	16.6B YoY-21.0%	21.1B YoY+9.2%	19.3B YoY+3.8%	18.6B YoY+47.3%
P/E	18.9× YoY+33.8%	14.1× YoY-37.6%	22.6× YoY-1.1%	22.9× YoY-18.9%	28.2× YoY+50.4%
P/S	0.2× YoY-52.1%	0.4× YoY-35.4%	0.6× YoY+2.9%	0.6× YoY-7.9%	0.7× YoY+3.0%
P/B	2.2× YoY-40.8%	3.7× YoY-31.8%	5.4× YoY-13.9%	6.3× YoY-10.7%	7.1× YoY+17.4%
P/FCF	—	30.6× YoY+196.5%	10.3× YoY-20.4%	13.0× YoY+42.5%	9.1× YoY+31.6%
Earnings yield	5.3% YoY-25.3%	7.1% YoY+60.2%	4.4% YoY+1.1%	4.4% YoY+23.3%	3.5% YoY-33.5%
FCF yield	—	3.3% YoY-66.3%	9.7% YoY+25.6%	7.7% YoY-29.8%	11.0% YoY-24.0%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MOH's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MOH filings on SEC EDGAR → Not investment advice.

MOH▼ financial statements

About this data

financial statements