CVS vs MOH: CVS Health and Molina Healthcare compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- CVS Health is the larger company, worth $109.7B, about 11.1 times Molina Healthcare.
- CVS Health grew revenue faster over the last year (+7.3% vs -4.8%).
- CVS Health keeps more of each dollar of revenue as operating profit (2.0% vs 0.5%).
- On earnings, CVS Health is the cheaper stock (37.7x vs 50.8x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CVS | MOH |
|---|---|---|
| Market cap | $109.7B | $9.9B |
| Share price | $87.95 | $196.93 |
| Revenue (last fiscal year) | $402.1B | $45.4B |
| Free cash flow (last fiscal year) | $7.8B | -$636M |
| Revenue growth, last year | +7.3% | -4.8% |
| Revenue growth per year, last 5 fiscal years | +8.3% | +13.1% |
| Operating margin | 2.0% | 0.46% |
| Net margin | 1.2% | -0.02% |
| Return on equity | 6.1% | -0.17% |
| P/E (trailing) | 37.7x | 50.8x |
| Price / free cash flow | 14.0x | — |
| EV / EBITDA | 12.6x | 12.5x |
| FCF growth the price implies | 0.36% | — |
| Dividend yield | 3.1% | — |
| Debt / equity | 2.18x | 2.84x |
| Fundamental grade | C | F |
| Superinvestors holding it | 14 | 7 |
| Insider purchases, last 12 months | 6 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
CVS Health
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $292.1B | $15.7B | 4.6% |
| 2022 | $322.5B | $13.4B | 2.5% |
| 2023 | $357.8B | $10.4B | 3.8% |
| 2024 | $372.8B | $6.3B | 2.3% |
| 2025 | $402.1B | $7.8B | 1.2% |
Molina Healthcare
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $27.8B | $2.0B | 3.7% |
| 2022 | $32.0B | $682M | 3.7% |
| 2023 | $34.1B | $1.6B | 4.6% |
| 2024 | $40.6B | $544M | 4.2% |
| 2025 | $45.4B | -$636M | 1.7% |
Where the revenue comes from
CVS Health · by segments, 2025
Health Services$190.4B40%
Health Care Benefits$143.4B30%
Pharmacy & Consumer Wellness$139.4B29%
Molina Healthcare · by segments, 2023
Medicaid$27.7B81%
Medicare$4.2B12%
Marketplace$2.1B6%
Other$76M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CVS in InvestinglyQuestions
Which is bigger, CVS Health or Molina Healthcare?
CVS Health (CVS), at $109.7B against $9.9B.
Is CVS or MOH cheaper?
By trailing P/E, CVS Health (37.7x) is cheaper than Molina Healthcare (50.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, CVS or MOH?
CVS Health: revenue grew +7.3% over the last year, against -4.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.