Molina Healthcare, Inc. (MOH) Income Statement
MOH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMOH revenue and net income
Where MOH's revenue goes
2025Each bar shows an amount and its share of revenue. MOH kept 1.0% of revenue as net income.
MOH profit margins
MOH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.7% | +12.4% | +18.5% | +12.4% |
| Gross profit | −14.0% | +1.2% | +8.8% | +9.5% |
| Operating income | −54.2% | −17.3% | −6.2% | +7.3% |
| Net income | −60.0% | −15.8% | −6.8% | +12.7% |
| EPS (diluted) | −53.0% | −15.9% | −5.9% | +14.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MOH quarterly EPS vs estimates
Molina Healthcare beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: October 21, 2026 (estimate $0.72).
MOH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $45.43B | $40.65B | $34.07B | $31.97B | $27.77B | $19.42B | $16.83B | $18.89B | $19.88B | $17.71B |
| Cost of revenue | $41.35B | $35.91B | $29.74B | $28.05B | $24.49B | $16.75B | $14.39B | $16.27B | $18.00B | $15.94B |
| Gross profit | $4.08B | $4.74B | $4.33B | $3.93B | $3.28B | $2.68B | $2.44B | $2.62B | $1.88B | $1.77B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $3.01B | $2.74B | $2.58B | $2.31B | $2.07B | $1.48B | $1.30B | $1.33B | $1.59B | $1.39B |
| Total operating expenses | $3.29B | $3.03B | $2.76B | $2.54B | $2.26B | $1.60B | $1.39B | $17.01B | $19.95B | $1.53B |
| Operating income | $781.0M | $1.71B | $1.57B | $1.38B | $1.02B | $1.08B | $1.04B | $1.13B | −$555.0M | $306.0M |
| Interest income | $192.0M | $118.0M | $109.0M | $110.0M | $120.0M | $102.0M | $87.0M | $115.0M | $118.0M | $101.0M |
| Interest expense | $192.0M | $118.0M | $109.0M | $110.0M | $120.0M | $102.0M | $87.0M | $115.0M | $118.0M | $101.0M |
| Income before taxes | $589.0M | $1.59B | $1.46B | $1.06B | $875.0M | $961.0M | $972.0M | $999.0M | −$612.0M | $137.0M |
| Income taxes | $117.0M | $410.0M | $373.0M | $271.0M | $216.0M | $288.0M | $235.0M | $292.0M | −$100.0M | $129.0M |
| Net income | $472.0M | $1.18B | $1.09B | $792.0M | $659.0M | $673.0M | $737.0M | $707.0M | −$512.0M | $8.0M |
| EBITDA | $976.0M | $1.89B | $1.74B | $1.35B | $1.13B | $1.15B | $1.15B | $1.24B | −$316.0M | $488.0M |
| EPS (diluted) | $10.65 | $22.65 | $20.89 | $17.91 | $13.55 | $14.46 | $11.68 | $10.45 | −$8.68 | $0.49 |
| Gross margin | 9.0% | 11.7% | 12.7% | 12.3% | 11.8% | 13.8% | 14.5% | 13.9% | 9.5% | 10.0% |
| Operating margin | 1.7% | 4.2% | 4.6% | 4.3% | 3.7% | 5.6% | 6.2% | 6.0% | −2.8% | 1.7% |
| Net margin | 1.0% | 2.9% | 3.2% | 2.5% | 2.4% | 3.5% | 4.4% | 3.7% | −2.6% | 0.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.87B | $10.80B | $11.38B | $11.48B | $11.43B | $11.15B | $10.50B | $10.34B | $9.88B | $9.93B | $9.05B | $8.55B |
| Cost of revenue | $9.95B | $9.77B | $10.67B | $10.55B | $10.26B | $9.87B | $9.39B | $9.15B | $8.67B | $8.71B | $8.01B | $7.48B |
| Gross profit | $929.0M | $1.02B | $701.0M | $927.0M | $1.17B | $1.28B | $1.11B | $1.19B | $1.21B | $1.22B | $1.04B | $1.07B |
| Sales, general & admin | $724.0M | $779.0M | $795.0M | $729.0M | $711.0M | $774.0M | $665.0M | $676.0M | $691.0M | $711.0M | $645.0M | $608.0M |
| Total operating expenses | $784.0M | $939.0M | $863.0M | $790.0M | $794.0M | $847.0M | $733.0M | $722.0M | $780.0M | $794.0M | $726.0M | $707.0M |
| Operating income | $145.0M | $83.0M | −$162.0M | $137.0M | $373.0M | $433.0M | $380.0M | $467.0M | $434.0M | $426.0M | $316.0M | $359.0M |
| Interest income | — | — | $52.0M | $49.0M | $48.0M | $43.0M | $34.0M | $29.0M | — | — | — | $27.0M |
| Interest expense | $54.0M | $54.0M | $52.0M | $49.0M | $48.0M | $43.0M | $34.0M | $29.0M | $28.0M | $27.0M | $27.0M | $27.0M |
| Income before taxes | $91.0M | $29.0M | −$214.0M | $88.0M | $325.0M | $390.0M | $346.0M | $438.0M | $406.0M | $399.0M | $289.0M | $332.0M |
| Income taxes | $31.0M | $15.0M | −$54.0M | $9.0M | $70.0M | $92.0M | $95.0M | $112.0M | $105.0M | $98.0M | $73.0M | $87.0M |
| Net income | $60.0M | $14.0M | −$160.0M | $79.0M | $255.0M | $298.0M | $251.0M | $326.0M | $301.0M | $301.0M | $216.0M | $245.0M |
| EBITDA | $185.0M | $122.0M | −$118.0M | $182.0M | $431.0M | $481.0M | $428.0M | $514.0M | $480.0M | $471.0M | $359.0M | $401.0M |
| EPS (diluted) | $1.51 | $2.35 | −$2.75 | $1.84 | $5.48 | $6.08 | $5.05 | $6.01 | $5.86 | $5.73 | $4.38 | $5.05 |
| Gross margin | 8.5% | 9.5% | 6.2% | 8.1% | 10.2% | 11.5% | 10.6% | 11.5% | 12.3% | 12.3% | 11.5% | 12.5% |
| Operating margin | 1.3% | 0.8% | −1.4% | 1.2% | 3.3% | 3.9% | 3.6% | 4.5% | 4.4% | 4.3% | 3.5% | 4.2% |
| Net margin | 0.6% | 0.1% | −1.4% | 0.7% | 2.2% | 2.7% | 2.4% | 3.2% | 3.0% | 3.0% | 2.4% | 2.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MOH's financial statements (latest annual report filed February 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MOH financial results
In fiscal year 2025 (ended December 31, 2025), Molina Healthcare reported revenue of $45.4 billion, up 11.7% from the year before. It had net income of $472.0 million (down 60.0%), a net profit margin of 1.0%. Diluted earnings per share came to $10.65. Over five years revenue grew at an average rate of 18.5% a year.
See the MOH stock overview for the latest quote and news, or the MOH chart for price history and technical indicators.
MOH income statement FAQ
What is Molina Healthcare's annual revenue?
Molina Healthcare reported total revenue of $45.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 11.7% from $40.6 billion the previous year.
Is Molina Healthcare profitable?
Yes. Molina Healthcare reported net income of $472.0 million in fiscal 2025, a net profit margin of 1.0%; its operating margin was 1.7%.
What is Molina Healthcare's gross margin?
Molina Healthcare's gross margin was 9.0% in fiscal 2025: for every $100 of revenue, Molina Healthcare kept $9 after the direct cost of its products and services.
How fast is Molina Healthcare growing?
Revenue grew 18.5% a year on average over the last five fiscal years, from $19.4 billion to $45.4 billion.
What are Molina Healthcare's earnings per share?
Molina Healthcare earned $10.65 per diluted share in fiscal 2025, compared with $22.65 a year earlier.
When will Molina Healthcare report its next earnings?
Molina Healthcare is expected to report results for the quarter ending September 30, 2026 on October 21, 2026 after the market closes.
When does Molina Healthcare's fiscal year end?
Molina Healthcare's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 10, 2026.