Elevance Health vs Molina Healthcare
Elevance Health reported revenue of $199.1 billion in fiscal 2025, 4.4 times Molina Healthcare's $45.4 billion in fiscal 2025. Elevance Health's revenue grew 12.5% in its latest year, and Molina Healthcare's grew 11.8%. Elevance Health had an operating margin of 3.6%, against 1.7% at Molina Healthcare. Free cash flow was $3.2 billion at Elevance Health and −$636 million at Molina Healthcare.
Side by side
| Elevance Health | Molina Healthcare | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $199.1B | $45.4B |
| Revenue growth | 12.5% | 11.8% |
| Revenue growth a year, last 5 years | 10.3% | 18.5% |
| Gross margin | — | — |
| Operating margin | 3.6% | 1.7% |
| Net margin | 2.8% | 1.0% |
| Free cash flow | $3.2B | −$636M |
| Free cash flow margin | 1.6% | −1.4% |
| Return on capital | 15.2% | — |
| Net debt to EBITDA | −0.4x | −4.4x |
| Dividends and buybacks | $4.1B | $1.0B |
| Change in diluted share count | −3.6% | −8.3% |
| Last close | $431.32 | $204.79 |
| P/E at the last close | 18.3× | — |
| Insider trades, last 12 months | bought $2.2 million, sold $6.4 million | bought $100,128, sold $3.6 million |
| Piotroski F-score | 6 of 8 | 4 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Elevance HealthMolina Healthcare
Operating margin
Percent of revenue
Elevance HealthMolina Healthcare
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Elevance HealthMolina Healthcare
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Elevance Health and Molina Healthcare pages.