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Molina Healthcare vs Oscar Health: revenue, profit, margins and growth compared

Molina Healthcare brought in $45.4B of revenue in fiscal 2025, Oscar Health $11.7B in fiscal 2025. Revenue changed by +11.7% at Molina Healthcare and +27.5% at Oscar Health on the year before, so Oscar Health grew faster. Molina Healthcare kept 1.0% of its revenue as net profit, Oscar Health -3.8%. Free cash flow was -$636M at Molina Healthcare and $1.1B at Oscar Health.

Side by side, latest fiscal year

MOHOSCR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$45.4B$11.7B
Revenue growth+11.7%+27.5%
Net income$472M-$443.2M
Net margin1.0%-3.8%
Free cash flow-$636M$1.1B
Free cash flow margin-1.4%9.0%
Earnings per share (diluted)$8.92-$1.69
Cash$4.2B$2.8B
Debt$3.8B$430.1M
Price to earnings21.4n/a
Market value$10B$9.1B
Dividend yieldn/an/a
Rank by revenue in sector#17 of 523 · Health care#41 of 523 · Health care

Over the years

Revenue
MOH FY2018: $18.9BMOH FY2019: $16.8BMOH FY2020: $19.4BMOH FY2021: $27.8BMOH FY2022: $32BMOH FY2023: $34.1BMOH FY2024: $40.7BMOH FY2025: $45.4BOSCR FY2019: $488.2MOSCR FY2021: $462.8MOSCR FY2021: $1.8BOSCR FY2022: $4BOSCR FY2023: $5.9BOSCR FY2024: $9.2BOSCR FY2025: $11.7BFY18FY19FY20FY21FY22FY23FY24FY25
MOH $45.4BOSCR $11.7B
Net income
MOH FY2018: $707MMOH FY2019: $737MMOH FY2020: $673MMOH FY2021: $659MMOH FY2022: $792MMOH FY2023: $1.1BMOH FY2024: $1.2BMOH FY2025: $472MOSCR FY2019: -$261.2MOSCR FY2021: -$406.8MOSCR FY2021: -$572.6MOSCR FY2022: -$606.3MOSCR FY2023: -$270.7MOSCR FY2024: $25.4MOSCR FY2025: -$443.2MFY18FY19FY20FY21FY22FY23FY24FY25
MOH $472MOSCR -$443.2M
Net margin
MOH FY2018: 3.7%MOH FY2019: 4.4%MOH FY2020: 3.5%MOH FY2021: 2.4%MOH FY2022: 2.5%MOH FY2023: 3.2%MOH FY2024: 2.9%MOH FY2025: 1.0%OSCR FY2019: -53.5%OSCR FY2021: -87.9%OSCR FY2021: -31.1%OSCR FY2022: -15.3%OSCR FY2023: -4.6%OSCR FY2024: 0.3%OSCR FY2025: -3.8%FY18FY19FY20FY21FY22FY23FY24FY25
MOH 1.0%OSCR -3.8%
Revenue growth
MOH FY2019: -10.9%MOH FY2020: +15.4%MOH FY2021: +43.0%MOH FY2022: +15.1%MOH FY2023: +6.6%MOH FY2024: +19.3%MOH FY2025: +11.7%OSCR FY2021: -5.2%OSCR FY2021: +297.3%OSCR FY2022: +115.6%OSCR FY2023: +47.9%OSCR FY2024: +56.5%OSCR FY2025: +27.5%FY19FY20FY21FY22FY23FY24FY25
MOH +11.7%OSCR +27.5%
Free cash flow
MOH FY2018: -$344MMOH FY2019: $377MMOH FY2020: $1.8BMOH FY2021: $2BMOH FY2022: $682MMOH FY2023: $1.6BMOH FY2024: $544MMOH FY2025: -$636MOSCR FY2019: -$191.4MOSCR FY2021: $208.7MOSCR FY2021: -$207.6MOSCR FY2022: $351.3MOSCR FY2023: -$297.7MOSCR FY2024: $950.3MOSCR FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
MOH -$636MOSCR $1.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Molina Healthcare and Oscar Health

Which is bigger by revenue, Molina Healthcare or Oscar Health?

Molina Healthcare is bigger by revenue: $45.4B in fiscal 2025, against $11.7B for Oscar Health in fiscal 2025.

Which keeps more of its revenue as profit, Molina Healthcare or Oscar Health?

Molina Healthcare had a net margin of 1.0% in fiscal 2025; Oscar Health had -3.8% in fiscal 2025.

Which grew revenue faster, Molina Healthcare or Oscar Health?

In their latest fiscal years revenue changed by +11.7% at Molina Healthcare and +27.5% at Oscar Health.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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