MOLINA HEALTHCARE, INC.

Listed Company

MOHCIK 0001179929NYSELarge AcceleratedHospital & Medical Service PlansDelawareFY ends Dec 31

Period

FY 2025

Revenue

$45.43B

Net Income

$472.00M

Total Assets

$15.56B

Equity

$4.07B

Shares Out

52.10M

Op. Cash Flow

$-535.00M

Business

MOLINA HEALTHCARE, INC. provides managed healthcare services under Medicaid, Medicare and through state insurance marketplaces. It offers health plan products and services including Medicaid managed care, Medicare Advantage and dual‑eligible plans (D‑SNP, HIDE, FIDE), Marketplace ACA‑compliant plans, long‑term services and supports, care management, utilization management and pharmacy management. Its operations are organized into four reportable segments—Medicaid, Medicare, Marketplace and Other—and it arranges care through provider networks, PBMs and centralized administrative services. Molina serves members across multiple U.S. states and distributes products via state contracts, independent agents, brokers, online channels and auto‑assignment mechanisms.

Summary from filing dated 2025-02-11

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Premium revenue	43,052	38,627	32,529	30,883	26,855
Premium tax revenue	1,863	1,486	1,069	873	787
Investment income	420	452	394	143	52
Other revenue	91	85	80	75	77
Total revenue	45,426	40,650	34,072	31,974	27,771
Medical care costs	39,488	34,428	28,669	27,175	23,704
General and administrative expenses	3,009	2,743	2,462	2,311	2,068
Premium tax expenses	1,863	1,486	1,069	873	787
Depreciation and amortization	195	186	171	176	131
Other	90	100	128	58	61
Total operating expenses	44,645	38,943	32,499	30,801	26,751
Operating income	781	1,707	1,573	1,173	1,020
Interest expense	192	118	109	110	—
Income before income tax expense	589	1,589	1,464	1,063	875
Income tax expense	117	410	373	271	216
Net income	472	1,179	1,091	792	659
Basic (in dollars per share)	8.93	20.52	18.91	13.72	11.4
Diluted (in dollars per share)	8.92	20.42	18.77	13.55	11.25
Basic (in shares)	53	57	58	58	58
Diluted (in shares)	53	58	58	59	59

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	4,248	4,662	4,848	4,006	4,438
Investments	4,008	4,325	4,259	3,499	3,202
Receivables	3,533	3,299	3,104	2,302	2,177
Prepaid expenses and other current assets	655	487	331	277	247
Total current assets	12,444	12,773	12,542	10,084	10,064
Property, equipment, and capitalized software, net	301	288	270	259	396
Goodwill and intangible assets, net	2,195	1,938	1,449	1,390	1,252
Restricted investments	299	286	261	238	212
Deferred income taxes, net	178	207	227	220	106
Other assets	147	138	143	123	179
Total assets	15,564	15,630	14,892	12,314	12,209
Medical claims and benefits payable	4,887	4,640	4,204	3,528	3,363
Amounts due government agencies	1,326	1,874	2,294	2,079	2,472
Accounts payable, accrued liabilities and other	1,093	1,331	1,252	889	842
Deferred revenue	66	51	418	359	370
Total current liabilities	7,372	7,896	8,168	6,855	7,047
Long-term debt	3,766	2,923	2,180	2,176	2,173
Finance lease liabilities	184	195	205	215	219
Other long-term liabilities	173	120	124	104	140
Total liabilities	11,495	11,134	10,677	9,350	9,579
Common stock, $0.001 par value per share; 150 million shares authorized; outstanding: 51 million shares at December 31, 2025, and 56 million at December 31, 2024	0	0	0	0	0
Preferred stock, $0.001 par value per share; 20 million shares authorized, no shares issued and outstanding	0	0	0	0	0
Additional paid-in capital	452	462	410	328	236
Accumulated other comprehensive income (loss)	15	−57	−82	−160	−5
Retained earnings	3,602	4,091	3,887	2,796	2,399
Total stockholders equity	4,069	4,496	4,215	2,964	2,630
Total liabilities and stockholders equity	15,564	15,630	14,892	12,314	12,209

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	195	186	171	176	131
Deferred income taxes	43	53	−31	−66	−24
Share-based compensation	47	116	115	103	72
Other, net	−3	8	2	8	33
Receivables	−145	−78	−778	−95	−415
Prepaid expenses and other current assets	52	−57	−69	−124	−19
Medical claims and benefits payable	−132	−40	580	153	471
Amounts due government agencies	−591	−453	196	−428	1,046
Accounts payable, accrued liabilities and other	−221	115	328	55	138
Deferred revenue	−51	−367	59	−11	−5
Income taxes	−201	−18	−2	2	7
Net cash (used in) provided by operating activities	−535	644	1,662	773	2,119
Purchases of investments	−751	−1,132	−1,433	−1,913	−2,713
Proceeds from sales and maturities of investments	1,408	1,111	772	1,398	1,329
Net cash paid in business combinations	−245	−344	−3	−134	−129
Purchases of property, equipment and capitalized software	−101	−100	−84	−91	−77
Other, net	1	1	4	−50	−63
Net cash provided by (used in) investing activities	312	−464	−744	−790	−1,653
Proceeds from borrowings under credit facility and term loans	1,100	300	0	—	—
Repayment of credit facility and term loans	−1,100	−300	0	0	0
Common stock purchases	−1,000	−1,000	0	−400	−128
Proceeds from senior notes offerings, net of issuance costs	838	740	0	0	740
Common stock withheld to settle employee tax obligations	−37	−57	−60	−54	−53
Other, net	29	−30	2	33	1
Net cash used in financing activities	−170	−347	−58	−441	−183
Net (decrease) increase in cash and cash equivalents, and restricted cash and cash equivalents	−393	−167	860	−458	283
Cash paid during the period for interest	181	121	108	108	127

Filings

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