Intrinsic value of Molina Healthcare - MOH

Previous Close

$59.63

  Intrinsic Value

$356.65

stock screener

  Rating & Target

str. buy

+498%

  Value-price divergence*

-128%

Previous close

$59.63

 
Intrinsic value

$356.65

 
Up/down potential

+498%

 
Rating

str. buy

 
Value-price divergence*

-128%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MOH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  25.42
  12.90
  12.11
  11.40
  10.76
  10.18
  9.66
  9.20
  8.78
  8.40
  8.06
  7.75
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
  6.32
  6.19
  6.07
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
Revenue, $m
  17,782
  20,076
  22,507
  25,073
  27,770
  30,598
  33,555
  36,642
  39,859
  43,207
  46,690
  50,310
  54,073
  57,983
  62,047
  66,270
  70,662
  75,229
  79,982
  84,929
  90,082
  95,452
  101,049
  106,888
  112,981
  119,342
  125,986
  132,928
  140,185
  147,774
  155,712
Variable operating expenses, $m
 
  19,526
  21,883
  24,370
  26,986
  29,727
  32,594
  35,587
  38,705
  41,952
  45,328
  48,777
  52,425
  56,215
  60,155
  64,250
  68,508
  72,936
  77,544
  82,340
  87,336
  92,542
  97,969
  103,629
  109,536
  115,703
  122,145
  128,875
  135,911
  143,269
  150,965
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  17,476
  19,526
  21,883
  24,370
  26,986
  29,727
  32,594
  35,587
  38,705
  41,952
  45,328
  48,777
  52,425
  56,215
  60,155
  64,250
  68,508
  72,936
  77,544
  82,340
  87,336
  92,542
  97,969
  103,629
  109,536
  115,703
  122,145
  128,875
  135,911
  143,269
  150,965
Operating income, $m
  306
  550
  624
  702
  785
  871
  961
  1,055
  1,153
  1,255
  1,361
  1,534
  1,649
  1,768
  1,892
  2,020
  2,154
  2,293
  2,438
  2,589
  2,746
  2,910
  3,081
  3,259
  3,444
  3,638
  3,841
  4,053
  4,274
  4,505
  4,747
EBITDA, $m
  488
  674
  756
  842
  933
  1,028
  1,127
  1,231
  1,339
  1,451
  1,568
  1,690
  1,816
  1,947
  2,084
  2,226
  2,373
  2,527
  2,686
  2,852
  3,026
  3,206
  3,394
  3,590
  3,795
  4,008
  4,231
  4,465
  4,708
  4,963
  5,230
Interest expense (income), $m
  66
  48
  76
  106
  138
  171
  206
  242
  280
  319
  361
  403
  448
  494
  542
  592
  644
  698
  754
  812
  873
  936
  1,002
  1,071
  1,143
  1,218
  1,296
  1,378
  1,463
  1,552
  1,645
Earnings before tax, $m
  205
  502
  548
  596
  647
  700
  755
  813
  873
  936
  1,001
  1,130
  1,201
  1,274
  1,350
  1,428
  1,510
  1,596
  1,684
  1,777
  1,873
  1,974
  2,078
  2,187
  2,301
  2,420
  2,545
  2,675
  2,811
  2,953
  3,102
Tax expense, $m
  153
  136
  148
  161
  175
  189
  204
  220
  236
  253
  270
  305
  324
  344
  364
  386
  408
  431
  455
  480
  506
  533
  561
  591
  621
  654
  687
  722
  759
  797
  837
Net income, $m
  52
  366
  400
  435
  472
  511
  551
  594
  637
  683
  731
  825
  877
  930
  985
  1,043
  1,103
  1,165
  1,230
  1,297
  1,367
  1,441
  1,517
  1,597
  1,680
  1,767
  1,858
  1,953
  2,052
  2,156
  2,264

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  4,577
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,449
  7,012
  7,861
  8,757
  9,700
  10,687
  11,720
  12,798
  13,922
  15,092
  16,308
  17,573
  18,887
  20,253
  21,672
  23,147
  24,681
  26,276
  27,936
  29,664
  31,464
  33,340
  35,295
  37,334
  39,462
  41,684
  44,005
  46,430
  48,964
  51,615
  54,388
Adjusted assets (=assets-cash), $m
  2,872
  7,012
  7,861
  8,757
  9,700
  10,687
  11,720
  12,798
  13,922
  15,092
  16,308
  17,573
  18,887
  20,253
  21,672
  23,147
  24,681
  26,276
  27,936
  29,664
  31,464
  33,340
  35,295
  37,334
  39,462
  41,684
  44,005
  46,430
  48,964
  51,615
  54,388
Revenue / Adjusted assets
  6.192
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
  2.863
Average production assets, $m
  555
  622
  698
  777
  861
  949
  1,040
  1,136
  1,236
  1,339
  1,447
  1,560
  1,676
  1,797
  1,923
  2,054
  2,191
  2,332
  2,479
  2,633
  2,793
  2,959
  3,133
  3,314
  3,502
  3,700
  3,906
  4,121
  4,346
  4,581
  4,827
Working capital, $m
  1,418
  -2,008
  -2,251
  -2,507
  -2,777
  -3,060
  -3,356
  -3,664
  -3,986
  -4,321
  -4,669
  -5,031
  -5,407
  -5,798
  -6,205
  -6,627
  -7,066
  -7,523
  -7,998
  -8,493
  -9,008
  -9,545
  -10,105
  -10,689
  -11,298
  -11,934
  -12,599
  -13,293
  -14,018
  -14,777
  -15,571
Total debt, $m
  1,645
  1,861
  2,590
  3,359
  4,167
  5,015
  5,901
  6,826
  7,790
  8,794
  9,837
  10,922
  12,050
  13,222
  14,440
  15,705
  17,021
  18,390
  19,814
  21,297
  22,841
  24,450
  26,128
  27,878
  29,704
  31,610
  33,601
  35,682
  37,856
  40,131
  42,510
Total liabilities, $m
  5,800
  6,016
  6,745
  7,514
  8,322
  9,170
  10,056
  10,981
  11,945
  12,949
  13,992
  15,077
  16,205
  17,377
  18,595
  19,860
  21,176
  22,545
  23,969
  25,452
  26,996
  28,605
  30,283
  32,033
  33,859
  35,765
  37,756
  39,837
  42,011
  44,286
  46,665
Total equity, $m
  1,649
  996
  1,116
  1,244
  1,377
  1,518
  1,664
  1,817
  1,977
  2,143
  2,316
  2,495
  2,682
  2,876
  3,077
  3,287
  3,505
  3,731
  3,967
  4,212
  4,468
  4,734
  5,012
  5,301
  5,604
  5,919
  6,249
  6,593
  6,953
  7,329
  7,723
Total liabilities and equity, $m
  7,449
  7,012
  7,861
  8,758
  9,699
  10,688
  11,720
  12,798
  13,922
  15,092
  16,308
  17,572
  18,887
  20,253
  21,672
  23,147
  24,681
  26,276
  27,936
  29,664
  31,464
  33,339
  35,295
  37,334
  39,463
  41,684
  44,005
  46,430
  48,964
  51,615
  54,388
Debt-to-equity ratio
  0.998
  1.870
  2.320
  2.700
  3.030
  3.300
  3.550
  3.760
  3.940
  4.100
  4.250
  4.380
  4.490
  4.600
  4.690
  4.780
  4.860
  4.930
  4.990
  5.060
  5.110
  5.160
  5.210
  5.260
  5.300
  5.340
  5.380
  5.410
  5.440
  5.480
  5.500
Adjusted equity ratio
  -1.019
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142
  0.142

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  52
  366
  400
  435
  472
  511
  551
  594
  637
  683
  731
  825
  877
  930
  985
  1,043
  1,103
  1,165
  1,230
  1,297
  1,367
  1,441
  1,517
  1,597
  1,680
  1,767
  1,858
  1,953
  2,052
  2,156
  2,264
Depreciation, amort., depletion, $m
  182
  124
  132
  140
  148
  157
  166
  176
  186
  196
  207
  156
  168
  180
  192
  205
  219
  233
  248
  263
  279
  296
  313
  331
  350
  370
  391
  412
  435
  458
  483
Funds from operations, $m
  1,017
  491
  532
  575
  620
  668
  717
  769
  823
  879
  937
  981
  1,044
  1,110
  1,177
  1,248
  1,322
  1,398
  1,478
  1,560
  1,647
  1,737
  1,830
  1,928
  2,030
  2,137
  2,248
  2,365
  2,486
  2,614
  2,747
Change in working capital, $m
  344
  -229
  -243
  -257
  -270
  -283
  -296
  -309
  -322
  -335
  -348
  -362
  -376
  -391
  -406
  -422
  -439
  -457
  -475
  -495
  -515
  -537
  -560
  -584
  -609
  -636
  -664
  -694
  -726
  -759
  -794
Cash from operations, $m
  673
  720
  775
  832
  890
  951
  1,013
  1,078
  1,145
  1,214
  1,286
  1,343
  1,420
  1,501
  1,584
  1,670
  1,761
  1,855
  1,953
  2,055
  2,162
  2,273
  2,390
  2,512
  2,640
  2,773
  2,913
  3,059
  3,212
  3,373
  3,541
Maintenance CAPEX, $m
  0
  -55
  -62
  -70
  -78
  -86
  -95
  -104
  -114
  -124
  -134
  -145
  -156
  -168
  -180
  -192
  -205
  -219
  -233
  -248
  -263
  -279
  -296
  -313
  -331
  -350
  -370
  -391
  -412
  -435
  -458
New CAPEX, $m
  -176
  -68
  -75
  -80
  -84
  -88
  -92
  -96
  -100
  -104
  -108
  -112
  -117
  -121
  -126
  -131
  -136
  -142
  -147
  -153
  -160
  -166
  -174
  -181
  -189
  -197
  -206
  -215
  -225
  -235
  -246
Cash from investing activities, $m
  -202
  -123
  -137
  -150
  -162
  -174
  -187
  -200
  -214
  -228
  -242
  -257
  -273
  -289
  -306
  -323
  -341
  -361
  -380
  -401
  -423
  -445
  -470
  -494
  -520
  -547
  -576
  -606
  -637
  -670
  -704
Free cash flow, $m
  471
  597
  637
  682
  729
  777
  827
  878
  931
  987
  1,044
  1,086
  1,148
  1,212
  1,278
  1,347
  1,419
  1,494
  1,572
  1,654
  1,739
  1,828
  1,921
  2,018
  2,119
  2,226
  2,337
  2,453
  2,575
  2,703
  2,837
Issuance/(repayment) of debt, $m
  0
  688
  729
  769
  808
  847
  886
  925
  964
  1,003
  1,044
  1,085
  1,128
  1,172
  1,218
  1,266
  1,316
  1,369
  1,424
  1,483
  1,544
  1,609
  1,678
  1,750
  1,826
  1,906
  1,991
  2,081
  2,175
  2,274
  2,379
Issuance/(repurchase) of shares, $m
  18
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  19
  688
  729
  769
  808
  847
  886
  925
  964
  1,003
  1,044
  1,085
  1,128
  1,172
  1,218
  1,266
  1,316
  1,369
  1,424
  1,483
  1,544
  1,609
  1,678
  1,750
  1,826
  1,906
  1,991
  2,081
  2,175
  2,274
  2,379
Total cash flow (excl. dividends), $m
  490
  1,285
  1,366
  1,451
  1,537
  1,624
  1,713
  1,803
  1,895
  1,990
  2,087
  2,171
  2,275
  2,384
  2,496
  2,613
  2,735
  2,863
  2,997
  3,136
  3,283
  3,437
  3,598
  3,768
  3,945
  4,132
  4,328
  4,534
  4,750
  4,977
  5,216
Retained Cash Flow (-), $m
  -92
  -112
  -121
  -127
  -134
  -140
  -147
  -153
  -160
  -166
  -173
  -180
  -187
  -194
  -202
  -209
  -218
  -227
  -236
  -245
  -256
  -266
  -278
  -290
  -302
  -315
  -330
  -344
  -360
  -376
  -394
Prev. year cash balance distribution, $m
 
  766
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,938
  1,245
  1,324
  1,403
  1,484
  1,566
  1,650
  1,736
  1,824
  1,915
  1,992
  2,089
  2,190
  2,294
  2,404
  2,517
  2,636
  2,761
  2,891
  3,028
  3,171
  3,321
  3,478
  3,643
  3,816
  3,998
  4,189
  4,390
  4,601
  4,822
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  1,859
  1,140
  1,152
  1,156
  1,150
  1,137
  1,115
  1,085
  1,048
  1,004
  946
  891
  833
  770
  706
  640
  574
  508
  445
  385
  328
  276
  228
  186
  148
  117
  90
  68
  50
  36
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Molina Healthcare, Inc. provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program. The company operates through three segments: Health Plans, Molina Medicaid Solutions, and Other. The Health Plans segment operates health plans in 11 states. As of December 31, 2015, this segment served approximately 3.5 million members who were eligible for Medicaid, Medicare, and other government-sponsored health care programs. The Molina Medicaid Solutions segment provides design, development, implementation; business process outsourcing; hosting services; and information technology development and administrative services to Medicaid agencies in Idaho, Louisiana, Maine, New Jersey, and West Virginia, as well as the U.S. Virgin Islands; and drug rebate administration services in Florida. The Other segment provides behavioral health and social services. The company offers health care services for its members through contracts with independent physicians and groups; hospitals; and ancillary providers, as well as through its clinics. Molina Healthcare, Inc. was founded in 1980 and is headquartered in Long Beach, California.

FINANCIAL RATIOS  of  Molina Healthcare (MOH)

Valuation Ratios
P/E Ratio 65.4
Price to Sales 0.2
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 5.1
Price to Free Cash Flow 6.8
Growth Rates
Sales Growth Rate 25.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 33.3%
Cap. Spend. - 3 Yr. Gr. Rate 12.4%
Financial Strength
Quick Ratio 10
Current Ratio 0.1
LT Debt to Equity 71.1%
Total Debt to Equity 99.8%
Interest Coverage 4
Management Effectiveness
Return On Assets 1%
Ret/ On Assets - 3 Yr. Avg. 2%
Return On Total Capital 1.6%
Ret/ On T. Cap. - 3 Yr. Avg. 3.6%
Return On Equity 3.2%
Return On Equity - 3 Yr. Avg. 7%
Asset Turnover 2.5
Profitability Ratios
Gross Margin 14.2%
Gross Margin - 3 Yr. Avg. 14.8%
EBITDA Margin 2.5%
EBITDA Margin - 3 Yr. Avg. 3%
Operating Margin 1.7%
Oper. Margin - 3 Yr. Avg. 2.1%
Pre-Tax Margin 1.2%
Pre-Tax Margin - 3 Yr. Avg. 1.6%
Net Profit Margin 0.3%
Net Profit Margin - 3 Yr. Avg. 0.6%
Effective Tax Rate 74.6%
Eff/ Tax Rate - 3 Yr. Avg. 61.2%
Payout Ratio 0%

MOH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MOH stock intrinsic value calculation we used $17782 million for the last fiscal year's total revenue generated by Molina Healthcare. The default revenue input number comes from 2016 income statement of Molina Healthcare. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MOH stock valuation model: a) initial revenue growth rate of 12.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MOH is calculated based on our internal credit rating of Molina Healthcare, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Molina Healthcare.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MOH stock the variable cost ratio is equal to 97.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MOH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.1% for Molina Healthcare.

Corporate tax rate of 27% is the nominal tax rate for Molina Healthcare. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MOH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MOH are equal to 3.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Molina Healthcare operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MOH is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1649 million for Molina Healthcare - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 56.478 million for Molina Healthcare is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Molina Healthcare at the current share price and the inputted number of shares is $3.4 billion.

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COMPANY NEWS

▶ Aetna Trounces Expectations As Big ObamaCare Insurer Crashes   [04:02PM  Investor's Business Daily]
▶ Obamacare just got a one-two punch of bad news   [02:24PM  Business Insider]
▶ Trumps latest threat would hurt his own supporters   [01:23PM  Yahoo Finance Video]
▶ What's working: Health insurer stocks   [07:16AM  CNBC Videos]
▶ Molina Healthcare to exit ACA exchanges in Utah, Wisconsin   [Aug-02-17 06:54PM  Associated Press]
▶ Molina cutting 10% of workforce nationwide, not disclosing impact on Columbus   [Jul-31-17 02:50PM  American City Business Journals]
▶ Molina Healthcare announces cuts to national workforce   [Jul-25-17 10:18PM  American City Business Journals]
▶ Molina Healthcare to cut about 1,400 jobs -memo   [Jul-24-17 06:06PM  Reuters]
▶ Molina Healthcare to cut about 1,400 jobs   [03:58PM  CNBC Videos]
▶ Dr. Molina Says GOP Health Care Bill is Dead on Arrival   [Jun-30-17 10:04AM  Bloomberg Video]
▶ What's working: Health care plays   [06:49AM  CNBC Videos]
▶ Molina Healthcare of NM names new president   [Jun-05-17 04:45PM  American City Business Journals]
▶ [$$] How the Molina Brothers Got Bounced From the Family Health-Care Firm   [Jun-01-17 12:07AM  The Wall Street Journal]
▶ [$$] How the Molina Brothers Got Bounced From the Family Health-Care Firm   [May-31-17 11:19AM  The Wall Street Journal]
▶ Molina Could Crash 20%, Says This Analyst   [10:11AM  TheStreet.com]
▶ How AHCA Hurts States That Voted For Trump   [May-29-17 09:30AM  Forbes]
▶ UPDATE: When Molina layoffs will go into effect   [May-10-17 09:31AM  American City Business Journals]
▶ Buy This Insurer Instead of Molina Health   [May-04-17 04:41PM  Motley Fool]
▶ Leadership shakeup rocks Molina Healthcare's national C-suite   [May-03-17 05:22PM  American City Business Journals]
▶ [$$] Molina Healthcare Fires CEO, CFO   [12:28AM  The Wall Street Journal]
▶ [$$] Molina Healthcare Fires CEO, CFO   [May-02-17 07:36PM  The Wall Street Journal]
Stock chart of MOH Financial statements of MOH
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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