ELV vs MOH: Elevance 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.
- Elevance Health is the larger company, worth $88.9B, about 9.0 times Molina Healthcare.
- Elevance Health grew revenue faster over the last year (+1.4% vs -4.8%).
- Elevance Health keeps more of each dollar of revenue as operating profit (2.7% vs 0.5%).
- On earnings, Elevance Health is the cheaper stock (17.3x 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 | ELV | MOH |
|---|---|---|
| Market cap | $88.9B | $9.9B |
| Share price | $412.70 | $196.93 |
| Revenue (last fiscal year) | $199.1B | $45.4B |
| Free cash flow (last fiscal year) | $3.2B | -$636M |
| Revenue growth, last year | +1.4% | -4.8% |
| Revenue growth per year, last 5 fiscal years | +9.5% | +13.1% |
| Operating margin | 2.7% | 0.46% |
| Net margin | 2.5% | -0.02% |
| Return on equity | 11.1% | -0.17% |
| P/E (trailing) | 17.3x | 50.8x |
| Price / free cash flow | 28.0x | — |
| EV / EBITDA | 12.6x | 12.5x |
| FCF growth the price implies | 9.4% | — |
| Dividend yield | 1.6% | — |
| Debt / equity | 1.81x | 2.84x |
| Fundamental grade | C | F |
| Superinvestors holding it | 18 | 7 |
| Insider purchases, last 12 months | 9 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Elevance Health
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $138.6B | $7.3B | 5.5% |
| 2022 | $156.6B | $7.2B | 5.3% |
| 2023 | $171.3B | $6.8B | 5.0% |
| 2024 | $177.0B | $4.6B | 4.4% |
| 2025 | $199.1B | $3.2B | 3.6% |
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
Elevance Health
No segment breakdown reported.
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 ELV in InvestinglyQuestions
Which is bigger, Elevance Health or Molina Healthcare?
Elevance Health (ELV), at $88.9B against $9.9B.
Is ELV or MOH cheaper?
By trailing P/E, Elevance Health (17.3x) is cheaper than Molina Healthcare (50.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, ELV or MOH?
Elevance Health: revenue grew +1.4% 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.