Elevance Health
ELV · Managed Health Care
$439.95
1.2%Molina Healthcare
MOH · Managed Health Care
$209.15
3.5%The short version
- Elevance Health is the larger business, with $199.1B of revenue in fiscal 2025 against $45.4B for Molina Healthcare, about 4.4 times as much.
- Elevance Health grew revenue faster (12.5%, against 11.8%).
- Elevance Health kept more of each dollar of sales as operating profit (3.6% operating margin, against 1.7% operating margin).
- Elevance Health turned more of its sales into free cash flow (1.6% FCF margin, against −1.4% FCF margin).
| Latest fiscal year | ELV · FY25 | MOH · FY25 |
|---|---|---|
| Size | ||
| Market cap | $95.7B | $10.8B |
| Revenue | $199.1B | $45.4B |
| Free cash flow | $3.2B | −$636M |
| Net income | $5.7B | $472M |
| Growth | ||
| Revenue growth | 12.5% | 11.8% |
| 5-year growth | 10.3% | 18.5% |
| Share count change | −3.6% | −8.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 3.6% | 1.7% |
| Net margin | 2.8% | 1.0% |
| FCF margin | 1.6% | −1.4% |
| Return on capital | 15.2% | — |
| Return on equity | 13.3% | 11.0% |
| Balance sheet | ||
| Net debt | −$3.3B | −$4.3B |
| Net debt / EBITDA | −0.4x | −4.4x |
| Dividends and buybacks | $4.1B | $1.0B |
| Valuation & quality | ||
| P/E | 18.7x | — |
| Piotroski F-score | 6 | 4 |
FY16
ELV $84.9B
MOH $17.8B
FY17
ELV $90.0B
MOH $19.9B
FY18
ELV $92.1B
MOH $18.9B
FY19
ELV $104.2B
MOH $16.8B
FY20
ELV $121.9B
MOH $19.4B
FY21
ELV $138.6B
MOH $27.8B
FY22
ELV $156.6B
MOH $32.0B
FY23
ELV $171.3B
MOH $34.1B
FY24
ELV $177.0B
MOH $40.7B
FY25
ELV $199.1B
MOH $45.4B
ELV
MOH
FY16
ELV 5.7%
MOH 1.7%
FY17
ELV 4.6%
MOH −2.8%
FY18
ELV 5.9%
MOH 6.0%
FY19
ELV 5.8%
MOH 6.2%
FY20
ELV 5.2%
MOH 5.6%
FY21
ELV 5.5%
MOH 3.7%
FY22
ELV 5.3%
MOH 3.7%
FY23
ELV 5.0%
MOH 4.6%
FY24
ELV 4.4%
MOH 4.2%
FY25
ELV 3.6%
MOH 1.7%
ELV
MOH
FY16
ELV $2.7B
MOH $497M
FY17
ELV $3.4B
MOH $718M
FY18
ELV $2.6B
MOH −$344M
FY19
ELV $5.0B
MOH $377M
FY20
ELV $9.7B
MOH $1.8B
FY21
ELV $7.3B
MOH $2.0B
FY22
ELV $7.2B
MOH $682M
FY23
ELV $6.8B
MOH $1.6B
FY24
ELV $4.6B
MOH $544M
FY25
ELV $3.2B
MOH −$636M
ELV
MOH
FY16
ELV 13.2%
MOH —
FY17
ELV 18.0%
MOH —
FY18
ELV 15.3%
MOH —
FY19
ELV 17.7%
MOH —
FY20
ELV 18.2%
MOH —
FY21
ELV 22.3%
MOH —
FY22
ELV 23.3%
MOH —
FY23
ELV 23.8%
MOH —
FY24
ELV 17.6%
MOH —
FY25
ELV 15.2%
MOH —
ELV
MOH
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.