NYSE Shariah screener · October 2026

Is Molina Healthcare, Inc. (MOH) Halal?

FAIL

Molina Healthcare, Inc. · NYSE: MOH · Healthcare

The short answer

Molina Healthcare's managed-care business shows no haram segments, but it fails on leverage: long-term debt of $3,766 million is 38.5% of its ~$9.78 billion market cap (over the 33% ceiling). Investment income of $420 million is 0.92% of revenue.

Gate 1 — Business activity: PASS

Gate 1 — business activity: PASS. Molina Healthcare, Inc., per its FY2025 Form 10-K (filed February 10, 2026), is a pure-play government-sponsored managed care company serving about 5.5 million members across 21 states - Medicaid ($32,240 million premium revenue), Medicare ($6,235 million) and Affordable Care Act Marketplace ($4,487 million) - earning per-member per-month capitation premiums from state agencies and CMS.

No haram segments were identified: no alcohol, tobacco, gambling, weapons or adult-entertainment lines are disclosed. The business passes gate 1; the FAIL comes from the debt ratio.

Gate 2 — Debt and cash: FAIL

Gate 2 — interest-bearing debt: FAIL (38.5%, ceiling 33%). Per Molina's FY2025 Form 10-K consolidated balance sheet, long-term debt was $3,766 million (five senior-note series, $3,800 million principal less $34 million of issuance costs; no short-term debt, revolver undrawn).

$3,766 million against a market capitalization of about $9.78 billion (Finnhub, October 2, 2026; NYSE: MOH) is about 38.5%, over the 33% ceiling. The debt gate fails and is decisive.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS (0.92%, ceiling 5%). Molina's FY2025 Form 10-K reports investment income of $420 million against total revenue of $45,426 million - about 0.92%, under the 5% ceiling.

The income gate passes, but the result is moot given the debt-gate failure.

Key figures used

Business: pure-play government-sponsored managed care — Medicaid $32,240M, Medicare $6,235M, Marketplace $4,487M premium revenue; ~5.5M members, 21 states (FY2025 10-K)
Haram assessment: no haram segments identified (no alcohol/tobacco/gambling/weapons/adult lines) — business-activity gate passes
Debt: $3,766M long-term debt (five senior-note series; no short-term debt) ÷ ~$9.78B market cap (Finnhub, Oct 2, 2026) = 38.5% — over the 33% ceiling (decisive)
Investment income: $420M ÷ $45,426M total revenue = 0.92% — under the 5% ceiling (moot)
Market data: NYSE-listed (MOH); actively listed, confirmed October 2, 2026; moved S&P 500 to S&P SmallCap 600 Mar 23, 2026 (index change only)
Third-party: Zoya flags MOH not Shariah-compliant (AAOIFI) — consistent with this FAIL; no verifiable Musaffa or ShariaPortfolio rating

Frequently asked questions

What does Molina Healthcare do?

Molina Healthcare, Inc. (NYSE: MOH) is a pure-play government-sponsored managed care company. Per its FY2025 Form 10-K, it serves about 5.5 million members across 21 states through Medicaid ($32,240 million premium revenue), Medicare ($6,235 million) and Affordable Care Act Marketplace ($4,487 million) plans, earning per-member per-month capitation premiums from state agencies and CMS. (Index note: it moved from the S&P 500 to the S&P SmallCap 600 on March 23, 2026.)

Is Molina Healthcare's business Shariah compliant?

Molina's business shows no haram segments: it is a government-sponsored managed care operator (Medicaid, Medicare, Marketplace) with no alcohol, tobacco, gambling, weapons or adult-entertainment lines disclosed. The business-activity gate passes; the FAIL comes from the debt ratio.

How much interest-bearing debt does Molina Healthcare have?

Molina's FY2025 Form 10-K reports long-term debt of $3,766 million (five senior-note series, $3,800 million principal less $34 million of issuance costs; no short-term debt and the revolver undrawn). Against a market capitalization of about $9.78 billion (Finnhub, October 2, 2026), that is about 38.5% - over the 33% ceiling. The debt gate fails and is decisive.

How much interest income does Molina Healthcare earn?

Molina's FY2025 Form 10-K reports investment income of $420 million against total revenue of $45,426 million - about 0.92%, under the 5% non-compliant income ceiling. The income gate passes, but the result is moot given the debt-gate failure.

What do third-party Shariah screeners say about Molina Healthcare?

Zoya flags MOH as not Shariah-compliant (AAOIFI) - consistent with this page's FAIL. I could not verify a Musaffa rating page for MOH or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).