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Maximus, Inc.(MMS)Earnings, Financials & Key Ratios
MMS•NYSE
$56.85
10.3× P/E·Price updated Jul 7, 2026
AboutMaximus, Inc. provides business process services (BPS) to government health and human services programs. It operates through three segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment offers various BPS solutions, such as program administration, appeals and assessments, and related consulting works for U.S. state and local government programs, including the Affordable Care Act, Medicaid, the Children's Health Insurance Program, Temporary Assistance to Needy Families, child support programs, Preadmission Screening and Resident Reviews, and Independent Developmental Disability assessments. This segment also provides 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; person-centered independent disability, long-term sick, and other health assessments; and specialized consulting services. The U.S. Federal Services segment offers centralized citizen engagement centers and support services; document and record management; case management, citizen support, and consumer education; independent medical reviews and worker's compensation benefit appeals; Medicare and Medicaid appeals; and federal marketplace eligibility appeals. This segment also provides modernization of systems and information technology infrastructure; infrastructure operations and support services; software development, operations, and management services; and data analytics services. The Outside the U.S. segment offers BPS solutions for governments and commercial clients outside the United States, including health and disability assessments, program administration for employment services, and other job seeker-related services. The company was incorporated in 1975 and is headquartered in Tysons, Virginia.Show more
- Revenue$5.43B+2.4%
- EBITDA$723M+15.2%
- Net Income$319M+3.9%
- EPS (Diluted)5.51+10.4%
- Gross Margin23.01%+5.3%
- EBITDA Margin13.3%+12.6%
- Operating Margin10.62%+14.6%
- Net Margin5.87%+1.6%
- ROE18.14%+3.8%
MMS Price & Volume
Maximus, Inc. (MMS) stock price & volume — 10-year historical chart
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Stagnating Revenue Growth Challenges Operational Margin Stability
Investment Thesis • Updated 2026Q2
VerdictNeutral
Growth:Decelerating
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Contract re-compete and labor inflation
Key Thesis Takeaways
- Maximus faces a challenging transition as the post-pandemic Medicaid redetermination tailwinds fade, resulting in a 4.1% year-over-year revenue contraction in 2026Q2.
- While the company maintains a disciplined debt-to-equity ratio of 0.96, the reliance on labor-intensive service delivery models and significant goodwill of $1.8 billion creates persistent margin volatility.
- Investors should monitor the company's ability to manage working capital swings and contract re-compete risks, as current earnings quality remains heavily influenced by non-operating items.
Verdict Logic
while the forward P/E of 6.46 suggests a discounted valuation, the inconsistent OCF/NI ratio, which swung to -2.60 in 2026Q1, warrants caution regarding the sustainability of cash-backed earnings.
MMS Growth Metrics
Maximus, Inc. (MMS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years9.97%
5 Years9.43%
3 Years5.46%
TTM-1.44%
Profit CAGR
10 Years7.3%
5 Years8.26%
3 Years16.11%
TTM24.42%
EPS CAGR
10 Years8.9%
5 Years10.2%
3 Years18.75%
TTM32.8%
Return on Capital
10 Years20.1%
5 Years13.69%
3 Years13.82%
Last Year17.4%
MMS Recent Earnings
Maximus, Inc. (MMS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$2.07+4.5%
$1.98
Rev
$1.3B-0.6%
$1.3B
Q1 2026
Feb 5, 2026Metric
Actual
Est
EPS
$1.85+0.5%
$1.84
Rev
$1.3B-2.2%
$1.4B
Q4 2025
Nov 20, 2025Metric
Actual
Est
EPS
$1.62-3.0%
$1.67
Rev
$1.3B-1.7%
$1.3B
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$2.16+55.4%
$1.39
Rev
$1.3B+0.5%
$1.3B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $2.07vs $1.98+4.5% | $1.3Bvs $1.3B-0.6% |
| Q1 2026 | Feb 5, 2026 | $1.85vs $1.84+0.5% | $1.3Bvs $1.4B-2.2% |
| Q4 2025 | Nov 20, 2025 | $1.62vs $1.67-3.0% | $1.3Bvs $1.3B-1.7% |
| Q3 2025 | Aug 7, 2025 | $2.16vs $1.39+55.4% | $1.3Bvs $1.3B+0.5% |
Based on last 12 quarters of dataView full earnings history →
Latest MMS News
Recent stock market news and headlines for Maximus, Inc. (MMS)
Business Wire·2 days ago
Maximus Declares Quarterly Cash Dividend of $0.33 per ShareTYSONS, Va.--(BUSINESS WIRE)--Maximus (NYSE: MMS), a leading provider of government services, announced today that its Board of Directors has approved a quarterly cash dividend of $0.33 per share, payable on August 31, 2026, to shareholders of record on August 14, 2026.
Peers Comparison
Key metrics vs top competitors for Maximus, Inc. (MMS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $56.85 | $2.99B | 10.32 | 2.36% | 5.87% | 18.14% | 2.09% | |
| $497.36 | $10.98B | 22.28 | 12.64% | 5.86% | 13.15% | — | |
| $113.67 | $4.81B | 14.76 | -2.9% | 5.55% | 27.22% | — | |
| $108.57 | $13.66B | 9.75 | 3.07% | 7.77% | 27.1% | — | |
| $63.31 | $7.58B | 9.16 | -6.37% | 7.57% | 81.03% | — | |
| $22.85 | $1.39B | -1.12 | 2.15% | -13.15% | -41.8% | — |
Compare MMS vs Peers
Maximus, Inc. (MMS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MMS SEC Filings & Documents
Maximus, Inc. (MMS) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 7, 2026·SEC
Material company update
Mar 11, 2026·SEC
Material company update
Feb 5, 2026·SEC
10-K Annual Reports
210-Q Quarterly Reports
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MMS Frequently Asked Questions
Maximus, Inc. (MMS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Maximus, Inc.'s revenue?
Maximus, Inc. (MMS) reported $5.32B in revenue for fiscal year 2025. This represents a 5058% increase from $103.1M in 1996.
How fast is Maximus, Inc. growing?
Maximus, Inc. (MMS) grew revenue by 2.4% over the past year. Growth has been modest.
Is MMS profitable?
Yes, Maximus, Inc. (MMS) is profitable, generating $373.3M in net income for fiscal year 2025 (5.9% net margin).
Dividend & Returns
Does MMS pay dividends?
Yes, Maximus, Inc. (MMS) pays a dividend with a yield of 2.09%. This makes it attractive for income-focused investors.
What is MMS's return on equity?
Maximus, Inc. (MMS) has a return on equity (ROE) of 18.1%. This is reasonable for most industries.
What is Maximus, Inc.'s free cash flow?
Maximus, Inc. (MMS) generated $372.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.