Molina Healthcare Stock vs Competition: Who Wins?
Molina Healthcare (MOH) stock has significantly underperformed peers like UNH and CNC over the past year. But how does it truly stack up amid a challenging managed care landscape marked by rising medical costs and policy uncertainty? A closer look reveals competitive revenue growth, yet weaker profitability and negative free cash flow compared to its larger rivals. Despite a moderate valuation and a recent rebound fueled by optimism for 2026 premium hikes, its smaller scale and ongoing margin pressures may limit substantial upside without sustained operational improvements.
- MOH’s 3.0% operating margin, trailing UNH (6.1%), indicates tighter profitability from its pure-play government programs versus UNH’s diversified, higher-margin Optum services.
- MOH’s 13.7% revenue growth, outpacing UNH but lagging CNC, shows success in government contracts and acquisitions despite Medicaid redetermination headwinds.
- MOH’s 43.3% stock decline and 11.4 PE signal investor concern over elevated Q3 medical costs and guidance cuts, particularly in its Marketplace segment.
Here’s how Molina Healthcare stacks up across size, valuation, and profitability versus key peers.
| MOH | UNH | CNC | |
|---|---|---|---|
| Market Cap ($ Bil) | 8.8 | 309.7 | 20.1 |
| Revenue ($ Bil) | 44.5 | 435.2 | 185.9 |
| PE Ratio | 11.4 | 17.8 | -3.3 |
| LTM Revenue Growth | 13.7% | 10.5% | 14.9% |
| LTM Operating Margin | 3.0% | 6.1% | 0.6% |
| LTM FCF Margin | -1.3% | 4.0% | 1.8% |
| 12M Market Return | -43.3% | -32.1% | -29.6% |
For more details on Molina Healthcare, read Buy or Sell MOH Stock. Below we compare MOH’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| MOH | 13.7% | 19.3% | 6.6% | 15.1% |
| UNH | 10.5% | 7.7% | 14.6% | 12.7% |
| CNC | 14.9% | 5.9% | 6.5% | 14.7% |
Operating Margin Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| MOH | 3.0% | 4.2% | 4.6% | 4.3% |
| UNH | 6.1% | 8.1% | 8.7% | 8.8% |
| CNC | 0.6% | 2.0% | 2.2% | 2.5% |
PE Ratio Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| MOH | 11.4 | 14.2 | 19.1 | 24.1 |
| UNH | 17.8 | 32.3 | 21.8 | 24.7 |
| CNC | -3.3 | 9.6 | 14.9 | 39.2 |
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