MOH vs UNH: Molina Healthcare and UnitedHealth Group compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- UnitedHealth Group is the larger company, worth $334.2B, about 33.9 times Molina Healthcare.
- UnitedHealth Group grew revenue faster over the last year (+0.4% vs -4.8%).
- UnitedHealth Group keeps more of each dollar of revenue as operating profit (4.8% vs 0.5%).
- On earnings, UnitedHealth Group is the cheaper stock (27.7x 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 | MOH | UNH |
|---|---|---|
| Market cap | $9.9B | $334.2B |
| Share price | $196.93 | $379.30 |
| Revenue (last fiscal year) | $45.4B | $447.6B |
| Free cash flow (last fiscal year) | -$636M | $16.1B |
| Revenue growth, last year | -4.8% | +0.4% |
| Revenue growth per year, last 5 fiscal years | +13.1% | +11.7% |
| Operating margin | 0.46% | 4.8% |
| Net margin | -0.02% | 3.1% |
| Return on equity | -0.17% | 13.5% |
| P/E (trailing) | 50.8x | 27.7x |
| Price / free cash flow | — | 20.8x |
| EV / EBITDA | 12.5x | 15.0x |
| FCF growth the price implies | — | 5.5% |
| Dividend yield | — | 2.4% |
| Debt / equity | 2.84x | 1.95x |
| Fundamental grade | F | C |
| Superinvestors holding it | 7 | 21 |
| Insider purchases, last 12 months | 4 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
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% |
UnitedHealth Group
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $287.6B | $19.9B | 8.3% |
| 2022 | $324.2B | $23.4B | 8.8% |
| 2023 | $371.6B | $25.7B | 8.7% |
| 2024 | $400.3B | $20.7B | 8.1% |
| 2025 | $447.6B | $16.1B | 4.2% |
Where the revenue comes from
Molina Healthcare · by segments, 2023
Medicaid$27.7B81%
Medicare$4.2B12%
Marketplace$2.1B6%
Other$76M0%
UnitedHealth Group · by segments, 2025
UnitedHealthcare$344.9B56%
Optum Rx$154.7B25%
Optum Health$102.0B16%
Optum Insight$19.4B3%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open MOH in InvestinglyQuestions
Which is bigger, Molina Healthcare or UnitedHealth Group?
UnitedHealth Group (UNH), at $334.2B against $9.9B.
Is MOH or UNH cheaper?
By trailing P/E, UnitedHealth Group (27.7x) is cheaper than Molina Healthcare (50.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, MOH or UNH?
UnitedHealth Group: revenue grew +0.4% 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.