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Maximus, Inc. MMS R2K

Industrials · Specialty Business Services · United States
https://www.maximus.com

Maximus, Inc. operates as a provider of government services worldwide. The company operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Federal Services segment offers business process services, eligibility and enrollment, outreach, and other services for federal health and human services programs; clinical services; and technology solutions, such as application development and modernization services, enterprise business solutions, advanced analytics and emerging technologies, cybersecurity services, data management, and infrastructure and engineering solutions. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; subsidized telephone services; and person-centered independent assessment services. This segment also provides employment services, such as eligibility support, case management, job-readiness preparation, job search and employer outreach, job retention and career advancement, and educational and training services; technology solutions; and system implementation project management services. The Outside the U.S. segment offers BPS and technology solutions for international governments, including health and disability assessments, program administration for employment services, wellbeing solutions and other job seeker-related services, digitally-enabled customer services, and technologies for modernization. Maximus, Inc. was founded in 1975 and is headquartered in McLean, Virginia.

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$61.93
-13.10% 1Y

Market & Price

Market Cap
$3.25B
Current Price
$61.93
High / Low (52W)
$97.94 / $59.11
Beta
0.60

Valuation

Stock P/E
9.30
Industry PE
28.38
Forward P/E
6.83
PEG Ratio
2.06
Book Value
$31.95
Price to Book
1.94
P/S
0.61
EV/EBITDA
6.78
Dividend Yield
2.13%

Profitability & Returns

ROCE
16.01%
ROE
22.19%
ROA
8.64%
Profit Margin
7.02%
Op Margin
11.37%
EPS (Latest Qtr)
$1.80
EPS (TTM)
$6.66

Balance Sheet & Liquidity

Debt/Equity
0.96
Quick Ratio
1.96
Current Ratio
2.21
Debt
$1.63B
Total Assets
$4.07B
Current Assets
$1.25B
Working Capital
$487.76M

Ownership

Promoter Holding
1.80%
Chg in Prom Hold
-
FII / Inst Holding
110.46%
Chg in FII Hold
0.02%

Financial Snapshot

Enterprise Value
$4.72B
Total Revenue (TTM)
$5.32B
EBITDA
$696.64M
Free Cash Flow
$262.57M
Operating Cash Flow
$411.78M
Shares Outstanding
52.54M
Gross Margin
25.46%
Payout Ratio
18.47%

Growth (CAGR)

Revenue 5Y
5.46%
Profit 5Y
16.11%
Revenue (YoY)
-4.10%
Earnings (YoY)
6.50%

PROS

  • Strong return on equity of 22.2%.
  • Profit CAGR of 16.1% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading 36.8% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 MMS Maximus, Inc. R2K 61.93 9.30 $3.25B 2.13% 16.01% 22.19% 5.46% 16.11%
2 CAT Caterpillar Inc. SPX 875.87 43.66 $403.42B 0.69% 19.42% 51.33% 4.38% 9.83%
3 GE GE Aerospace SPX 323.76 40.17 $338.27B 0.58% 11.89% 45.43% 16.32% 195.89%
4 GEV GE Vernova Inc. SPXAI 968.32 28.33 $260.21B 0.21% 6.30% 75.71% 8.68% 92.84%
5 RTX RTX Corporation SPX 179.66 33.64 $241.95B 1.54% 9.41% 11.57% 9.72% 9.01%
6 UNP Union Pacific Corporation SPX 262.64 21.60 $155.93B 2.10% 16.19% 40.69% -0.49% 0.66%
7 ETN Eaton Corporation plc SPXAI 400.60 39.20 $155.55B 1.10% 16.23% 20.84% 9.77% 18.41%
8 HON Honeywell International Inc. NDXSPX 237.86 38.00 $150.72B 2.00% 13.57% 24.26% 1.82% -1.62%
9 DE Deere & Company SPX 542.18 30.67 $146.45B 1.20% 12.82% 18.35% -4.50% -11.00%
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Quarterly Results

Figures in USD.

Metric Jun 2015Sep 2015Dec 2015Mar 2016Jun 2016Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019Sep 2019Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Dec 2021Mar 2022Jun 2022Dec 2022Mar 2023Jun 2023Dec 2023Mar 2024Jun 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue ----------623.15M612.79M597.86M558.45M664.62M736.52M730.71M754.97M818.23M818.13M901.34M923.84M945.55M959.28M1.24B1.15B1.18B1.13B1.25B1.21B1.19B1.33B1.35B1.31B1.40B1.36B1.35B1.32B1.35B1.31B
Cost of Revenue -----------------------------------1.02B988.89M984.86M1.03B963.70M
Gross Profit 143.80M125.31M110.22M147.67M151.38M152.93M144.82M152.32M152.19M162.58M151.96M148.80M154.68M138.94M159.26M169.42M174.25M168.25M175.45M153.10M185.60M196.85M206.06M230.66M291.86M228.16M228.45M210.22M244.75M228.60M264.36M300.05M317.59M332.31M301.56M338.82M359.51M333.55M318.67M342.26M
Operating Expenses -----------------------------------185.85M193.84M210.69M172.46M193.78M
Operating Income 71.07M61.53M42.79M77.90M84.61M81.31M73.78M80.33M81.81M77.59M79.68M71.32M82.57M61.91M74.14M81.80M83.59M77.58M79.14M37.31M87.31M84.52M87.57M113.19M139.59M81.53M75.29M54.56M74.78M62.51M58.39M107.51M127.49M141.74M86.79M152.97M165.67M122.86M146.21M148.49M
EBITDA -----------------------------------186.37M198.24M160.07M180.27M181.27M
Interest Expense -----------------------------------21.47M22.66M22.43M20.82M22.11M
Pretax Income -----------------------------------132.46M142.97M100.47M126.27M126.53M
Tax Provision -----------------------------------35.89M36.99M25.18M32.32M28.47M
Net Income 41.67M35.44M26.61M48.78M52.23M50.74M46.66M52.52M56.92M53.33M59.09M55.49M59.86M46.31M55.91M61.92M62.90M60.09M58.73M27.65M64.46M63.66M64.08M80.61M94.50M53.33M50.10M31.34M39.99M31.79M30.86M64.15M80.51M89.75M41.20M96.57M105.98M75.29M93.94M98.06M
Diluted EPS 0.620.530.400.740.790.770.710.800.860.810.890.840.910.710.860.960.970.930.910.431.041.021.031.291.510.850.800.510.650.520.501.041.311.460.691.691.861.321.701.80

Profit & Loss (Annual)

Figures in USD.

Metric Sep 2009Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Sep 2015Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Revenue --------2.45B2.39B2.89B3.46B-4.63B4.90B5.31B5.43B
Cost of Revenue -------------3.69B3.88B4.05B4.10B
Gross Profit 191.35M220.83M253.65M287.94M386.03M452.12M512.72M562.19M611.90M594.38M671.18M711.00M-939.81M1.03B1.25B1.33B
Operating Expenses -------------624.96M733.81M763.15M805.15M
Operating Income 88.59M107.41M122.40M127.33M185.16M225.31M259.83M286.60M313.51M295.48M317.11M288.28M-314.85M294.79M488.50M528.29M
EBITDA -------------455.86M443.75M614.48M662.64M
Interest Expense -------------45.97M84.14M82.44M84.08M
Pretax Income -------------277.10M210.29M406.51M444.85M
Tax Provision -------------73.27M48.50M99.59M125.81M
Net Income 46.54M70.41M81.17M76.13M116.73M145.44M157.77M178.36M209.43M220.75M240.82M214.51M-203.83M161.79M306.91M319.03M
Diluted EPS 1.301.961.141.091.672.112.352.693.173.353.723.39-3.292.634.995.51

Compounded Sales Growth

5 Years:5.46%
1 Year:-4.10%

Compounded Profit Growth

5 Years:16.11%
1 Year:6.50%

Stock Price Performance

1 Year:-13.10%
6 Months:-27.80%
3 Months:-17.64%
1 Month:-4.71%

Balance Sheet (Annual)

Figures in USD.

Metric Sep 2008Sep 2009Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Sep 2015Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Total Assets -433.23M527.74M565.28M695.29M857.98M901.00M1.27B1.35B1.35B1.46B1.75B2.02B-3.99B3.99B4.13B4.07B
Current Assets --------------1.03B1.06B1.20B1.25B
Cash & Equivalents 119.61M87.81M155.32M172.95M189.31M125.62M158.11M74.67M66.20M166.25M349.25M105.56M71.74M-40.66M65.41M183.12M222.35M
Inventory ------------------
Receivables --------------723.98M692.71M734.82M720.50M
Total Liabilities --188.95M190.82M244.19M328.20M344.81M655.86M595.68M404.89M375.58M497.53M782.88M-2.44B2.32B2.29B2.40B
Current Liabilities --164.69M163.89M184.61M262.04M265.32M356.38M340.76M316.27M277.45M364.24M561.17M-774.45M723.01M807.53M765.16M
Long Term Debt --1.41M1.65M1.56M1.32M1.06M210.62M165.34M527.00K-231.00K18.02M-1.29B1.16B1.09B1.28B
Total Debt --------------1.51B1.43B1.28B1.44B
Total Equity 275.71M297.13M338.79M374.46M451.11M529.51M555.96M612.38M749.08M940.09M1.08B1.25B1.24B-1.55B1.67B1.84B1.67B
Shares Outstanding --------------60.77M61.00M60.35M54.80M

Cash Flows (Annual)

Figures in USD.

Metric Sep 2009Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Sep 2015Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Operating Cash Flow 30.63M138.44M96.86M115.16M120.94M213.60M206.22M180.03M336.42M316.77M356.73M244.59M-289.84M314.34M515.26M429.37M
Investing Cash Flow -27.04M-32.40M-25.88M-86.61M-129.83M-49.39M-393.87M-87.10M-25.22M-45.24M-483.88M-44.14M--54.01M-80.96M-129.10M-60.26M
Financing Cash Flow -35.57M-42.40M-51.61M-17.77M-41.86M-127.14M111.11M-96.84M-215.43M-91.88M-110.86M-230.09M--248.27M-250.80M-275.65M-343.88M
Capital Expenditure -19.69M-13.94M-18.51M-18.37M-43.58M-36.26M-98.99M-------56.15M-90.69M-114.19M-63.21M
Free Cash Flow 10.94M124.50M78.35M96.79M77.36M177.34M107.22M------233.69M223.65M401.07M366.16M
Net Change in Cash --------------12.44M-17.42M110.51M25.23M
Share Buybacks 30.05M40.22M56.54M12.98M33.29M111.14M82.79M33.34M28.86M66.92M47.45M166.96M3.36M96.12M073.07M447.48M

Ratios (Annual)

Figures in %.

Metric Sep 2009Sep 2010Sep 2011Sep 2012Sep 2013Sep 2014Sep 2015Sep 2016Sep 2017Sep 2018Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Gross Margin % --------25.0%24.8%23.2%20.5%-20.3%21.0%23.6%24.6%
Operating Margin % --------12.8%12.4%11.0%8.3%-6.8%6.0%9.2%9.7%
Net Margin % --------8.5%9.2%8.3%6.2%-4.4%3.3%5.8%5.9%
ROE % 15.7%20.8%21.7%16.9%22.0%26.2%25.8%23.8%22.3%20.4%19.3%17.3%-13.2%9.7%16.7%19.1%
ROCE % -29.6%30.5%24.9%31.1%35.4%28.4%28.4%30.3%24.9%23.0%19.7%-9.8%9.0%14.7%16.0%

Shareholding Pattern

Insiders
1.80%
Institutions
110.46%
Public Float
112.48%

Top Institutional Holders

#Holder% HeldSharesValue
1 FMR, LLC 15.57% 8.18M $506.49M
2 Blackrock Inc. 14.31% 7.52M $465.69M
3 Vanguard Portfolio Management LLC 6.61% 3.47M $215.00M
4 State Street Corporation 4.68% 2.46M $152.28M
5 Vanguard Capital Management LLC 4.64% 2.44M $150.96M
6 Dimensional Fund Advisors LP 4.01% 2.11M $130.50M
7 Fuller & Thaler Asset Management Inc. 3.96% 2.08M $128.91M
8 Mackenzie Financial Corporation 3.00% 1.58M $97.73M
9 Geode Capital Management, LLC 2.85% 1.50M $92.75M
10 Van Berkom & Associates Inc. 2.23% 1.17M $72.59M

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