Molina Healthcare vs Oscar Health
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The short version
- Molina Healthcare is the larger business, with $45.4B of revenue in fiscal 2025 against $11.7B for Oscar Health, about 3.9 times as much.
- Oscar Health grew revenue faster (27.5%, against 11.8%).
- Molina Healthcare kept more of each dollar of sales as operating profit (1.7% operating margin, against β3.4%).
- Oscar Health turned more of its sales into free cash flow (9.1% FCF margin, against β1.4%).
| Latest fiscal year | MOH Β· FY25 | OSCR Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.8B | $10.3B |
| Revenue | $45.4B | $11.7B |
| Free cash flow | β$636M | $1.1B |
| Net income | $472M | β$443M |
| Growth | ||
| Revenue growth | 11.8% | 27.5% |
| 5-year growth | 18.5% | 90.8% |
| Share count change | β8.3% | β1.3% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | 1.7% | β3.4% |
| Net margin | 1.0% | β3.8% |
| FCF margin | β1.4% | 9.1% |
| Return on capital | β | β |
| Return on equity | 11.0% | β44.5% |
| Balance sheet | ||
| Net debt | β$4.3B | β$3.6B |
| Net debt / EBITDA | β4.4x | β |
| Dividends and buybacks | $1.0B | $0.0M |
| Valuation & quality | ||
| P/E | β | 23.8x |
| Piotroski F-score | 4 | 4 |
Revenue
FY16
MOH $17.8B
OSCR β
FY17
MOH $19.9B
OSCR β
FY18
MOH $18.9B
OSCR β
FY19
MOH $16.8B
OSCR $488M
FY20
MOH $19.4B
OSCR $463M
FY21
MOH $27.8B
OSCR $1.8B
FY22
MOH $32.0B
OSCR $4.0B
FY23
MOH $34.1B
OSCR $5.9B
FY24
MOH $40.7B
OSCR $9.2B
FY25
MOH $45.4B
OSCR $11.7B
MOH
OSCR
Operating margin
FY16
MOH 1.7%
OSCR β
FY17
MOH β2.8%
OSCR β
FY18
MOH 6.0%
OSCR β
FY19
MOH 6.2%
OSCR β53.1%
FY20
MOH 5.6%
OSCR β86.9%
FY21
MOH 3.7%
OSCR β29.6%
FY22
MOH 3.7%
OSCR β14.9%
FY23
MOH 4.6%
OSCR β4.0%
FY24
MOH 4.2%
OSCR 0.6%
FY25
MOH 1.7%
OSCR β3.4%
MOH
OSCR
Free cash flow
FY16
MOH $497M
OSCR β
FY17
MOH $718M
OSCR β
FY18
MOH β$344M
OSCR β
FY19
MOH $377M
OSCR β$191M
FY20
MOH $1.8B
OSCR $209M
FY21
MOH $2.0B
OSCR β$208M
FY22
MOH $682M
OSCR $351M
FY23
MOH $1.6B
OSCR β$298M
FY24
MOH $544M
OSCR $950M
FY25
MOH β$636M
OSCR $1.1B
MOH
OSCR
Return on capital
FY16
MOH β
OSCR β
FY17
MOH β
OSCR β
FY18
MOH β
OSCR β
FY19
MOH β
OSCR β
FY20
MOH β
OSCR β
FY21
MOH β
OSCR β
FY22
MOH β
OSCR β
FY23
MOH β
OSCR β
FY24
MOH β
OSCR β
FY25
MOH β
OSCR β
MOH
OSCR
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.