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Molina Healthcare MOH Medicare — Impairment of intangible assets

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Other financials

Income statement

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Revenue$10.9B-4.8%
Gross profit$1.4B-10.3%
Operating income$145.0M-61.1%
Net income$60.0M-76.5%
EPS (diluted)$1.19-74.9%

Balance sheet

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Cash & equivalents$5.0B+10.8%
Total debt$4.0B+10.9%
Total equity$4.2B-9.4%
Total assets$16.0B-1.3%

Cash flow

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Operating cash flow$1.1B+469%
CapEx$30.0M-28.6%
Free cash flow$1.1B+528%

Valuation

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Market cap$10.19B+23.4%
Enterprise value$9.15B+25.1%
P/E25×-12.1×
P/S0.2×0.0×

Profitability

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Gross margin12.6%-2.2pp
Operating margin3%-1.2pp
Net margin2%-0.9pp
FCF margin0.6%

Returns & leverage

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Return on equity19.7%-6.7pp
Debt / equity0.9×+0.2×
Current ratio1.7×0.0×

Where this comes from

Reported directly by Molina Healthcare in its filing.

Tagged under the XBRL concept us-gaap:ImpairmentOfIntangibleAssetsFinitelived.

The source filing: Molina Healthcare’s 10-K, filed February 10, 2026.

Filed
Feb 10, 2026, 4:18 PM EST
Fiscal year
FY2026
Accession
0001179929-26-000005

In early February 2026, we determined that the MAPD product does not align with our strategic shift to focus exclusively on dual eligible members in Medicare and we intend to exit this product for 2027. This development does not reflect conditions existing as of the December 31, 2025, balance sheet date, but arose subsequently. Therefore, our December 31, 2025, financial statements are not impacted. We will address the accounting impacts in the first quarter of 2026, including an estimated pre-tax impairment charge of approximately $93 million, attributable to intangible assets associated with the MAPD product. Our MAPD contracts represented approximately 117,000 members as of December 31, 2025, and approximately $1,566 million, or 25%, of Medicare segment premium revenue in 2025.

Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Molina Healthcare's medicare — impairment of intangible assets?
Molina Healthcare (MOH) reported medicare — impairment of intangible assets of $93M in Q1 2026.
What does medicare — impairment of intangible assets mean?
This reflects the non-cash charge recognized when the carrying value of intangible assets, such as provider networks or customer lists within the Medicare segment, exceeds their fair value. It indicates a decline in the expected economic benefit of previously acquired assets. Frequent impairments may signal poor acquisition strategy or deteriorating market conditions.

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