MMS

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Maximus, Inc.

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Key Metrics

Previous Close: $58.40
52-Week Range: $52.73 – $100.00
Market Cap: $3.02B
P/E (TTM): 8.54
EPS (TTM): 6.76
Dividend Yield: 2.26%

Advanced Metrics

Price/Book: 1.74
PEG Ratio: 2.06
Return on Equity: 21.11%
Return on Assets: 8.20%
Gross Margin: 25.59%
Operating Margin: 12.62%
Profit Margin: 7.07%
Current Ratio: 2.42
Debt/Equity: 1.00
Total Debt: $1.73B
Free Cash Flow: $354.07M
Revenue Growth: -5.10%
Earnings Growth: 4.80%
Enterprise Value: $4.70B

MMS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$4.63B	$4.90B	$5.31B	$5.43B
Cost of Revenue	$3.69B	$3.88B	$4.05B	$4.10B
Gross Profit	$939.81M	$1.03B	$1.25B	$1.33B
Selling, General & Admin	$534.49M	$639.22M	$671.58M	$713.11M
Operating Expenses	$624.96M	$733.81M	$763.15M	$805.15M
Operating Income	$314.85M	$294.79M	$488.50M	$528.29M
EBITDA	$455.86M	$443.75M	$614.48M	$662.64M
Pretax Income	$277.10M	$210.29M	$406.51M	$444.85M
Income Tax	$73.27M	$48.50M	$99.59M	$125.81M
Net Income	$203.83M	$161.79M	$306.91M	$319.03M
Diluted EPS	3.29	2.63	4.99	5.51
Diluted Shares	61.97M	61.45M	61.48M	57.92M

MMS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$40.66M	$65.41M	$183.12M	$222.35M
Receivables	$809.27M	$843.43M	$884.80M	$902.00M
Current Assets	$1.03B	$1.06B	$1.20B	$1.25B
Total Assets	$3.99B	$3.99B	$4.13B	$4.07B
Current Liabilities	$774.45M	$723.01M	$807.53M	$765.16M
Long-Term Debt	$1.29B	$1.16B	$1.09B	$1.28B
Total Debt	$1.51B	$1.43B	$1.28B	$1.44B
Total Liabilities	$2.44B	$2.32B	$2.29B	$2.40B
Retained Earnings	$1.03B	$1.12B	$1.28B	$1.06B
Shareholders' Equity	$1.55B	$1.67B	$1.84B	$1.67B
Working Capital	$257.87M	$332.45M	$393.01M	$487.76M
Net Debt	$1.32B	$1.18B	$948.97M	$1.11B

MMS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$289.84M	$314.34M	$515.26M	$429.37M
Capital Expenditure	-$56.15M	-$90.69M	-$114.19M	-$63.21M
Free Cash Flow	$233.69M	$223.65M	$401.07M	$366.16M
Depreciation & Amortisation	$132.79M	$149.32M	$125.53M	$133.72M
Stock-Based Compensation	$30.48M	$29.52M	$35.35M	$41.18M
Investing Cash Flow	-$54.01M	-$80.96M	-$129.10M	-$60.26M
Financing Cash Flow	-$248.27M	-$250.80M	-$275.65M	-$343.88M
Dividends Paid	-$68.72M	-$68.07M	-$72.90M	-$68.71M
Share Repurchases	-$96.12M	$0.00	-$73.07M	-$447.48M
Net Change in Cash	-$12.44M	-$17.42M	$110.51M	$25.23M

MMS Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$1.36B	$1.35B	$1.32B	$1.35B	$1.31B
Cost of Revenue	$1.02B	$988.89M	$984.86M	$1.03B	$963.70M
Gross Profit	$338.82M	$359.51M	$333.55M	$318.67M	$342.26M
Selling, General & Admin	$162.86M	$170.83M	$187.68M	$152.16M	$173.48M
Operating Expenses	$185.85M	$193.84M	$210.69M	$172.46M	$193.78M
Operating Income	$152.97M	$165.67M	$122.86M	$146.21M	$148.49M
EBITDA	$186.37M	$198.24M	$160.07M	$180.27M	$181.27M
Pretax Income	$132.46M	$142.97M	$100.47M	$126.27M	$126.53M
Income Tax	$35.89M	$36.99M	$25.18M	$32.32M	$28.47M
Net Income	$96.57M	$105.98M	$75.29M	$93.94M	$98.06M
Diluted EPS	1.69	1.86	1.32	1.70	1.80
Diluted Shares	57.06M	56.98M	56.99M	55.30M	54.59M

MMS Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$108.06M	$59.78M	$222.35M	$137.59M	$157.45M
Receivables	$1.10B	$1.43B	$902.00M	$1.15B	$1.18B
Current Assets	$1.33B	$1.61B	$1.25B	$1.42B	$1.51B
Total Assets	$4.20B	$4.46B	$4.07B	$4.21B	$4.24B
Current Liabilities	$721.24M	$706.15M	$765.16M	$608.05M	$681.69M
Long-Term Debt	$1.45B	$1.61B	$1.28B	$1.51B	$1.47B
Total Debt	$1.62B	$1.78B	$1.44B	$1.67B	$1.63B
Total Liabilities	$2.53B	$2.69B	$2.40B	$2.49B	$2.54B
Retained Earnings	$1.07B	$1.16B	$1.06B	$1.11B	$1.08B
Shareholders' Equity	$1.67B	$1.77B	$1.67B	$1.72B	$1.70B
Working Capital	$607.03M	$898.88M	$487.76M	$815.16M	$827.16M
Net Debt	$1.38B	$1.60B	$1.11B	$1.43B	$1.38B

MMS Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$42.71M	-$182.72M	$649.37M	-$244.40M	$189.53M
Capital Expenditure	-$17.21M	-$15.49M	-$7.53M	-$6.26M	-$10.51M
Free Cash Flow	$25.51M	-$198.21M	$641.85M	-$250.66M	$179.02M
Depreciation & Amortisation	$32.44M	$32.62M	$37.17M	$33.19M	$32.63M
Stock-Based Compensation	$12.62M	$10.75M	$10.86M	$7.02M	$9.90M
Investing Cash Flow	-$19.37M	-$15.49M	-$3.15M	$6.63M	-$10.51M
Financing Cash Flow	$8.93M	$146.12M	-$490.67M	$156.90M	-$113.28M
Dividends Paid	-$16.90M	-$16.90M	-$16.84M	-$16.34M	-$17.82M
Share Repurchases	-$77.85M	$0.00	-$141.04M	-$40.56M	-$114.44M
Net Change in Cash	$32.28M	-$52.09M	$155.56M	-$80.87M	$65.74M

Market Snapshot

About

Maximus, Inc. provides government health and human services program management and technology solutions. The company administers Medicaid, Medicare, welfare-to-work, and child support programs on behalf of state, federal, and international government clients. Maximus also offers consulting, system design, and digital transformation services for public sector agencies.