MOLINA HEALTHCARE, INC. (MOH) Form 10-Q — Oct 22, 2026
Molina Healthcare reported Q3 2026 net income of $38 million, or $0.73 per diluted share, down sharply from $79 million, or $1.51 per diluted share, in the third quarter of 2025. Premium revenue fell 4% to $10.5 billion as membership declined 14% year over year to 4.9 million, and the consolidated medical care ratio ticked up to 92.9% from 92.6%, reflecting a challenging medical cost environment. Nine-month net income dropped to $112 million from $632 million, including a $93 million impairment tied to the planned 2027 exit from the MAPD product.
Key figures
- Eps
- 0.73
- Revenue
- 11082000000
- Net Income
- 38000000
- Total Debt
- 3771000000
- Revenue Yoy
- -3.4% (total revenue $11,082M vs $11,477M)
- Total Assets
- 15652000000
- Cash Position
- 4479000000
- Shares Outstanding
- 52200000
- Membership
- 4.9 million (down 766,000 or 14% YoY)
- Q3 2025 mcr
- 92.6%
- Q3 2026 mcr
- 92.9%
- Gna ratio q3
- 6.4%
- Working capital
- $5.1 billion
- Buyback remaining
- $500 million through December 31, 2026
- Medical margin q3
- $738M vs $797M
- Pre tax margin q3
- 0.5%
- Revolver capacity
- $1.25 billion (undrawn)
- Impairment q1 2026
- $93 million (MAPD product exit)
- Q3 premium revenue
- $10,457M (down 4% YoY)
- Q3 2025 eps diluted
- 1.51
- Cash and investments
- $8.9 billion
- Nine month net income
- $112M vs $632M prior year
- Operating cash flow nine months
- $629M vs -$237M prior year
- Favorable prior year development
- $352 million
AI analysis
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