← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Molina Healthcare grew revenue 11.7% to $45.43B, but medical costs ran ahead of rates in every segment and net income fell 60.0% to $472M, with operating cash flow turning negative
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 11.7% to $45.43B; premium revenue up 11%OK
- Profitability — Medical care ratio 91.7% vs 89.1%; operating margin down 248 bps to 1.72%Watch
- Cash flow — Operating cash flow negative $535M; free cash flow negative $636MWatch
- Balance sheet — Total debt up 28.8% to $3.77B; equity down 9.5%Watch
- Policy exposure — Company expects a 15% to 20% reduction in its 1.2 million Medicaid Expansion members from new federal lawWatch
Business
Molina Healthcare provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces, serving approximately 5.5 million members across 21 states at the end of 2025. States and the federal government pay it a fixed premium per member, and Molina keeps what is left after paying medical claims and running the plans, so small swings in medical costs move its earnings a lot.
Where the revenue comes from
Fiscal 2025, as MOLINA HEALTHCARE, INC. reports it. History and quarterly detail are in the app.
- Medicaid$32.2B
- Medicare$6.2B
- Marketplace$4.5B
- Other$90.0M
Latest filings
- 10-Q · Quarterly report2026-07-23
- 8-K · Company announcement2026-07-22
- 8-K · Company announcement2026-06-10
- 8-K · Company announcement2026-05-11
- 8-K · Company announcement2026-05-08
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about MOLINA HEALTHCARE, INC., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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