Comprehensive Stock Comparison
Compare Molina Healthcare, Inc. (MOH) vs Centene Corporation (CNC) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | CNC | 19.4% revenue growth vs MOH's 11.7% |
| Value | CNC | Lower P/E (15.0x vs 22.9x) |
| Quality / Margins | MOH | 1.0% net margin vs CNC's -3.4% |
| Stability / Safety | CNC | Lower D/E ratio (86.8% vs 97.1%) |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | CNC | -22.8% vs MOH's -48.8% |
| Efficiency (ROA) | MOH | 3.0% ROA vs CNC's -8.7%, ROIC 17.4% vs -22.2% |
Who Each Stock Is For
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Molina Healthcare is a managed care organization that provides health insurance to low-income families and individuals through government-sponsored programs. It generates revenue primarily from Medicaid premiums (roughly 80% of revenue), Medicare Advantage plans, and Marketplace exchange plans — receiving capitated payments from government agencies for each member enrolled. The company's moat lies in its specialized expertise serving the complex Medicaid population and its established state-level contracts that create significant regulatory and operational barriers to entry.
Centene Corporation is a managed healthcare company that primarily serves government-sponsored health programs for low-income and vulnerable populations. It generates revenue mainly through Medicaid managed care plans—which account for the majority of its business—along with Medicare, commercial insurance, and specialty pharmacy services. The company's key advantage is its deep expertise and scale in administering complex government healthcare programs, particularly Medicaid, where it has built specialized infrastructure and relationships with state governments.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
CNC leads in 2 of 6 categories (Valuation Metrics, Total Returns). MOH leads in 1 (Profitability & Efficiency). 2 tied.
Financial Metrics (TTM)
CNC is the larger business by revenue, generating $194.8B annually — 4.3x MOH's $45.4B. Profitability is closely matched — net margins range from 1.0% (MOH) to -3.4% (CNC). On growth, CNC holds the edge at +21.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | MOHMolina Healthcare… | CNCCentene Corporati… |
|---|---|---|
| RevenueTrailing 12 months | $45.4B | $194.8B |
| EBITDAEarnings before interest/tax | $976M | -$6.3B |
| Net IncomeAfter-tax profit | $472M | -$6.7B |
| Free Cash FlowCash after capex | -$636M | $4.3B |
| Gross MarginGross profit ÷ Revenue | +7.4% | +12.2% |
| Operating MarginEBIT ÷ Revenue | +1.7% | -3.9% |
| Net MarginNet income ÷ Revenue | +1.0% | -3.4% |
| FCF MarginFCF ÷ Revenue | -1.4% | +2.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +8.3% | +21.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -172.4% | -5.0% |
Valuation Metrics
| Metric | MOHMolina Healthcare… | CNCCentene Corporati… |
|---|---|---|
| Market CapShares × price | $7.9B | $22.1B |
| Enterprise ValueMkt cap + debt − cash | $7.6B | $21.6B |
| Trailing P/EPrice ÷ TTM EPS | 17.27x | -3.30x |
| Forward P/EPrice ÷ next-FY EPS est. | 22.93x | 14.96x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 7.82x | — |
| Price / SalesMarket cap ÷ Revenue | 0.17x | 0.11x |
| Price / BookPrice ÷ Book value/share | 2.00x | 1.10x |
| Price / FCFMarket cap ÷ FCF | — | 5.11x |
Profitability & Efficiency
MOH delivers a 11.6% return on equity — every $100 of shareholder capital generates $12 in annual profit, vs $-33 for CNC. CNC carries lower financial leverage with a 0.87x debt-to-equity ratio, signaling a more conservative balance sheet compared to MOH's 0.97x. On the Piotroski fundamental quality scale (0–9), CNC scores 6/9 vs MOH's 4/9, reflecting solid financial health.
| Metric | MOHMolina Healthcare… | CNCCentene Corporati… |
|---|---|---|
| ROE (TTM)Return on equity | +11.6% | -33.4% |
| ROA (TTM)Return on assets | +3.0% | -8.7% |
| ROICReturn on invested capital | +17.4% | -22.2% |
| ROCEReturn on capital employed | +9.8% | -17.3% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 |
| Debt / EquityFinancial leverage | 0.97x | 0.87x |
| Net DebtTotal debt minus cash | -$298M | -$487M |
| Cash & Equiv.Liquid assets | $4.2B | $17.9B |
| Total DebtShort + long-term debt | $4.0B | $17.4B |
| Interest CoverageEBIT ÷ Interest expense | 4.07x | -9.46x |
Total Returns (with DRIP)
A $10,000 investment in CNC five years ago would be worth $7,557 today (with dividends reinvested), compared to $6,932 for MOH. Over the past 12 months, CNC leads with a -22.8% total return vs MOH's -48.8%. The 3-year compound annual growth rate (CAGR) favors CNC at -13.1% vs MOH's -17.6% — a key indicator of consistent wealth creation.
| Metric | MOHMolina Healthcare… | CNCCentene Corporati… |
|---|---|---|
| YTD ReturnYear-to-date | -13.7% | +7.4% |
| 1-Year ReturnPast 12 months | -48.8% | -22.8% |
| 3-Year ReturnCumulative with dividends | -44.0% | -34.4% |
| 5-Year ReturnCumulative with dividends | -30.7% | -24.4% |
| 10-Year ReturnCumulative with dividends | +148.3% | +57.6% |
| CAGR (3Y)Annualised 3-year return | -17.6% | -13.1% |
Risk & Volatility
MOH is the less volatile stock with a -0.01 beta — it tends to amplify market swings less than CNC's 0.18 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CNC currently trades 68.0% from its 52-week high vs MOH's 42.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MOHMolina Healthcare… | CNCCentene Corporati… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | -0.01x | 0.18x |
| 52-Week HighHighest price in past year | $359.97 | $66.03 |
| 52-Week LowLowest price in past year | $121.06 | $25.08 |
| % of 52W HighCurrent price vs 52-week peak | +42.8% | +68.0% |
| RSI (14)Momentum oscillator 0–100 | 42.5 | 53.2 |
| Avg Volume (50D)Average daily shares traded | 1.5M | 5.2M |
Analyst Outlook
Wall Street rates MOH as "Buy" and CNC as "Buy". Consensus price targets imply 1.4% upside for CNC (target: $46) vs 0.5% for MOH (target: $155).
| Metric | MOHMolina Healthcare… | CNCCentene Corporati… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $154.82 | $45.50 |
| # AnalystsCovering analysts | 38 | 43 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +12.6% | +2.2% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Molina Healthcare, … (MOH) | 100 | 142.3 | +42.3% |
| Centene Corporation (CNC) | 100 | 77.2 | -22.8% |
Centene Corporation (CNC) returned -24% over 5 years vs Molina Healthcare, … (MOH)'s -31%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Molina Healthcare, … (MOH) | $17.7B | $45.4B | +156.5% |
| Centene Corporation (CNC) | $40.6B | $194.8B | +379.7% |
Molina Healthcare, Inc.'s revenue grew from $17.7B (2016) to $45.4B (2025) — a 11.0% CAGR. Centene Corporation's revenue grew from $40.6B (2016) to $194.8B (2025) — a 19.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Molina Healthcare, … (MOH) | 0.0% | 1.0% | +2198.9% |
| Centene Corporation (CNC) | 1.4% | -3.4% | -347.5% |
Molina Healthcare, Inc.'s net margin went from 0% (2016) to 1% (2025). Centene Corporation's net margin went from 1% (2016) to -3% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Molina Healthcare, … (MOH) | 11 | 19.5 | +77.3% |
| Centene Corporation (CNC) | 21.5 | 9.6 | -55.3% |
Molina Healthcare, Inc. has traded in a 11x–28x P/E range over 8 years; current trailing P/E is ~17x. Centene Corporation has traded in a 10x–40x P/E range over 8 years; current trailing P/E is ~-3x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Molina Healthcare, … (MOH) | 0.92 | 8.92 | +869.6% |
| Centene Corporation (CNC) | 1.72 | -13.62 | -891.9% |
Molina Healthcare, Inc.'s EPS grew from $0.92 (2016) to $8.92 (2025) — a 29% CAGR. Centene Corporation's EPS grew from $1.72 (2016) to $-13.62 (2025) — a NaN% CAGR.
Chart 6Free Cash Flow — 5 Years
Molina Healthcare, Inc. generated $-636M FCF in 2025 (-131% vs 2021). Centene Corporation generated $4B FCF in 2025 (+31% vs 2021).
MOH vs CNC: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is MOH or CNC a better buy right now?
Molina Healthcare, Inc. (MOH) offers the better valuation at 17.3x trailing P/E (22.9x forward), making it the more compelling value choice. Analysts rate Molina Healthcare, Inc. (MOH) a "Buy" — based on 38 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MOH or CNC?
On forward P/E, Centene Corporation is actually cheaper at 15.0x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — MOH or CNC?
Over the past 5 years, Centene Corporation (CNC) delivered a total return of -24.4%, compared to -30.7% for Molina Healthcare, Inc. (MOH). A $10,000 investment in CNC five years ago would be worth approximately $8K today (assuming dividends reinvested). Over 10 years, the gap is even starker: MOH returned +148.3% versus CNC's +57.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MOH or CNC?
By beta (market sensitivity over 5 years), Molina Healthcare, Inc. (MOH) is the lower-risk stock at -0.01β versus Centene Corporation's 0.18β — meaning CNC is approximately -1467% more volatile than MOH relative to the S&P 500. On balance sheet safety, Centene Corporation (CNC) carries a lower debt/equity ratio of 87% versus 97% for Molina Healthcare, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — MOH or CNC?
Molina Healthcare, Inc. (MOH) is the more profitable company, earning 1.0% net margin versus -3.4% for Centene Corporation — meaning it keeps 1.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MOH leads at 1.7% versus -3.9% for CNC. At the gross margin level — before operating expenses — CNC leads at 12.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is MOH or CNC more undervalued right now?
On forward earnings alone, Centene Corporation (CNC) trades at 15.0x forward P/E versus 22.9x for Molina Healthcare, Inc. — 8.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CNC: 1.4% to $45.50.
07Which pays a better dividend — MOH or CNC?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is MOH or CNC better for a retirement portfolio?
For long-horizon retirement investors, Molina Healthcare, Inc. (MOH) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.01), +148.3% 10Y return). Both have compounded well over 10 years (MOH: +148.3%, CNC: +57.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between MOH and CNC?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: MOH is a small-cap deep-value stock; CNC is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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