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Molina Healthcare vs Unitedhealth: revenue, profit, margins and growth compared

Molina Healthcare brought in $45.4B of revenue in fiscal 2025, Unitedhealth $447.6B in fiscal 2025. Revenue changed by +11.7% at Molina Healthcare and +11.8% at Unitedhealth on the year before, so Unitedhealth grew faster. Molina Healthcare kept 1.0% of its revenue as net profit, Unitedhealth 2.7%. Free cash flow was -$636M at Molina Healthcare and $16.1B at Unitedhealth.

Side by side, latest fiscal year

MOHUNH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$45.4B$447.6B
Revenue growth+11.7%+11.8%
Net income$472M$12.1B
Net margin1.0%2.7%
Free cash flow-$636M$16.1B
Free cash flow margin-1.4%3.6%
Earnings per share (diluted)$8.92$13.23
Cash$4.2B$24.4B
Debt$3.8B$72.3B
Price to earnings21.428.5
Market value$10B$338B
Dividend yieldn/a2.32%
Rank by revenue in sector#17 of 523 · Health care#1 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: $45.4BUNH FY2018: $226.2BUNH FY2019: $242.2BUNH FY2020: $257.1BUNH FY2021: $287.6BUNH FY2022: $324.2BUNH FY2023: $371.6BUNH FY2024: $400.3BUNH FY2025: $447.6BFY18FY19FY20FY21FY22FY23FY24FY25
MOH $45.4BUNH $447.6B
Net income
MOH FY2018: $707MMOH FY2019: $737MMOH FY2020: $673MMOH FY2021: $659MMOH FY2022: $792MMOH FY2023: $1.1BMOH FY2024: $1.2BMOH FY2025: $472MUNH FY2018: $12BUNH FY2019: $13.8BUNH FY2020: $15.4BUNH FY2021: $17.3BUNH FY2022: $20.1BUNH FY2023: $22.4BUNH FY2024: $14.4BUNH FY2025: $12.1BFY18FY19FY20FY21FY22FY23FY24FY25
MOH $472MUNH $12.1B
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%UNH FY2018: 5.3%UNH FY2019: 5.7%UNH FY2020: 6.0%UNH FY2021: 6.0%UNH FY2022: 6.2%UNH FY2023: 6.0%UNH FY2024: 3.6%UNH FY2025: 2.7%FY18FY19FY20FY21FY22FY23FY24FY25
MOH 1.0%UNH 2.7%
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%UNH FY2019: +7.0%UNH FY2020: +6.2%UNH FY2021: +11.8%UNH FY2022: +12.7%UNH FY2023: +14.6%UNH FY2024: +7.7%UNH FY2025: +11.8%FY19FY20FY21FY22FY23FY24FY25
MOH +11.7%UNH +11.8%
Free cash flow
MOH FY2018: -$344MMOH FY2019: $377MMOH FY2020: $1.8BMOH FY2021: $2BMOH FY2022: $682MMOH FY2023: $1.6BMOH FY2024: $544MMOH FY2025: -$636MUNH FY2018: $13.7BUNH FY2019: $16.4BUNH FY2020: $20.1BUNH FY2021: $19.9BUNH FY2022: $23.4BUNH FY2023: $25.7BUNH FY2024: $20.7BUNH FY2025: $16.1BFY18FY19FY20FY21FY22FY23FY24FY25
MOH -$636MUNH $16.1B

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

Questions about Molina Healthcare and Unitedhealth

Which is bigger by revenue, Molina Healthcare or Unitedhealth?

Unitedhealth is bigger by revenue: $447.6B in fiscal 2025, against $45.4B for Molina Healthcare in fiscal 2025.

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

Molina Healthcare had a net margin of 1.0% in fiscal 2025; Unitedhealth had 2.7% in fiscal 2025.

Which grew revenue faster, Molina Healthcare or Unitedhealth?

In their latest fiscal years revenue changed by +11.7% at Molina Healthcare and +11.8% at Unitedhealth.

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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