Molina Healthcare, Inc.

NYSE•MOH

CEO: Mr. Joseph Michael Zubretsky

セクター: Healthcare

業種: Medical - Healthcare Plans

上場日: 2003-07-02

Molina Healthcare, Inc. provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.

連絡先情報

200 Oceangate, Suite 100, Long Beach, CA, 90802, United States

562-435-3666

www.molinahealthcare.com

時価総額

$7.44B

PER (TTM)

15.5

25.2

配当利回り

52週高値

$359.97

52週安値

$121.06

52週レンジ

10%

順位28Top 16.1%

5.3

F-Score

改良版 Piotroski 分析

10年ファンダメンタル

堅調 • 5.3 / 9 ポイント

スコアレンジ (0-9)

8-9: 価値が優れている

6-7: 基礎体質が強い

4-5: 全体的に堅調

0-3: パフォーマンスが弱い

データ期間: 2016-2025

財務ダッシュボード

Q4 2025 データ

売上高

$11.38B+0.00%

直近4四半期の推移

EPS

-$3.15+0.00%

直近4四半期の推移

フリーCF

-$297.00M+0.00%

直近4四半期の推移

2025 Annual 決算ハイライト

主なハイライト

Premium Revenue Increased 11% Premium revenue reached $43.1B USD, up 11% driven by ConnectiCare acquisition and Medicaid rate increases.

Net Income Dropped Significantly Net income fell to $472M USD from $1.179B USD due to higher medical costs outpacing revenue rates.

Medical Care Ratio Spiked Consolidated MCR rose 260 basis points to 91.7% reflecting challenging medical cost trends across all operating segments.

Medicaid Membership Declined Total membership slightly decreased to 5.491M members; Medicaid lost 322K members due to eligibility redeterminations.

リスク要因

Medicaid Rates Lag Costs Fixed Medicaid rates may not keep pace with rising utilization and medical cost trends, compressing margins significantly.

Marketplace Subsidy Expiration Expiration of enhanced premium tax credits (APTCs) after 2025 could reduce Marketplace participation and membership levels.

OBBBA Medicaid Enrollment Risk New OBBBA legislation expected to cause 15% to 20% reduction in Medicaid Expansion enrollment by 2029.

Incurred Claims Estimation Risk Estimating IBNP liability requires significant judgment; cost trend variations could materially impact financial results.

見通し

Pursuing Government Contracts Strategy focuses on pure-play government business, targeting 11% to 13% long-term premium revenue growth.

Exiting MAPD Product Line Intends to exit MAPD product in 2027 to focus exclusively on higher acuity dual-eligible Medicare members.

Share Repurchase Authorization Board authorized up to $1B share repurchase program through December 31, 2026, demonstrating capital deployment focus.

New Contract Revenue Secured 2025 RFP wins secured nearly $9B in incremental annual Medicaid premium revenue expected to commence in 2026.

同業比較

売上高 (TTM)

MOH

$45.43B

+11.7%

DVA

$13.64B

+6.5%

HSIC

$13.18B

+4.0%

粗利益率 (最新四半期)

EXEL

95.6%

+0.1pp

HALO

77.4%

+1.4pp

GMED

72.0%

+6.5pp

主要指標

銘柄コード	時価総額	PER (TTM)	ROE (TTM)	負債比率
MRNA	$20.74B	-7.3	-30.1%	15.5%
PEN	$13.28B	74.7	13.4%	12.0%
ALGN	$12.48B	30.4	10.4%	1.8%

長期トレンド

直近4四半期

売上高

純利益

営業キャッシュフロー

4四半期売上高CAGR

0.7%

緩やかな成長

4四半期純利益CAGR

N/M

収益構造の変化

キャッシュフロー安定性

25%

キャッシュフローに注意が必要

深度リサーチ

次回決算:2026年4月21日

EPS:-

売上高:-

財務データ

決算説明会

財務レポート

ニュース

損益計算書

バランスシート

キャッシュフロー計算書

財務比率

変化率

損益計算書	直近12ヶ月

データなし