Maximus, Inc. logo MMS - Maximus, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 8
HOLD 8
SELL 0
STRONG
SELL
0
| PRICE TARGET: $110.00 DETAILS
HIGH: $110.00
LOW: $110.00
MEDIAN: $110.00
CONSENSUS: $110.00
UPSIDE: 79.83%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Revenue
Revenue 5,431.3 5,306.2 4,904.7 4,631.0 4,254.5 3,461.5 2,886.8 2,392.2 2,451.0 2,403.4 2,099.8 1,700.9 1,331.3 1,050.1 929.6 831.7 717.3 745.1 738.6 700.9 647.5 603.8 558.3 518.7 487.3 399.2 319.5 233.5 127.9 103.1
Cost of Revenue 4,189.9 4,146.1 3,970.7 3,781.7 3,351.9 2,786.2 2,293.9 1,808.2 1,851.3 1,854.5 1,596.5 1,248.8 945.2 762.2 676.0 610.9 525.0 543.4 561.6 547.5 467.6 427.2 391.7 357.0 335.8 269.6 222.5 170.5 93.8 78.1
Gross Profit 1,249.9 1,160.1 934.0 849.3 902.6 675.4 592.9 584.1 599.7 548.8 503.4 452.1 386.0 287.9 253.7 220.8 192.3 201.7 177.1 153.4 179.9 176.6 166.6 161.7 151.4 129.6 97 63 34.1 25
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 4.6 4.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 673.1 668.4 638.6 537.6 483.3 384.2 273.1 284.3 284.5 266.1 238.8 226.2 197.9 157.4 132.1 118.8 106.7 115.6 135.6 129.7 116.7 113.5 107.4 96.0 78.8 67.9 51.1 37.5 22.7 13.1
Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.2 1.0 5.6 6.2 2.7 2.4 0.4 0.3
Operating Expenses 673.1 668.4 638.6 537.6 483.3 384.2 273.1 284.3 284.5 266.1 238.8 226.2 197.9 157.4 132.1 118.8 106.7 115.6 135.6 129.7 116.7 113.5 108.6 97.0 84.4 74.2 53.8 39.9 23.1 13.4
Operating Income
Operating Income 576.8 491.7 295.4 311.8 419.4 291.2 319.8 299.8 315.2 282.8 264.6 225.9 188.2 130.5 121.6 102.1 85.5 86.1 41.5 23.7 63.3 63.0 57.0 64.3 67.0 55.4 43.2 23.1 11 11.6
Interest Expense 84.1 82.4 84.1 46.0 14.7 2.1 3.0 1 2.2 4.1 1.4 0 0 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 4.2 3.5 0.9 0.1 2.4 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 674.7 624.3 456.4 464.8 502.7 396.1 405.7 362.4 384.4 361.9 317.4 276.0 224.9 158.2 148.7 126.7 102.2 59.0 24.1 38.8 74.8 77.2 69.2 72.0 67.0 61.6 45.9 30.3 13.8 13.2
EBIT 528.9 488.9 294.4 323.1 398.4 289.1 320.3 300.2 316.4 290.1 261.2 227.4 189.1 131.8 125.9 108.3 90.0 46.5 3.1 21.1 59.6 64.1 58.0 64.7 67.0 55.4 43.7 27.8 12.7 12.4
Income Before Tax 444.8 406.5 210.3 277.1 383.7 287.1 317.3 299.2 314.2 286.0 259.8 227.4 189.1 131.8 125.9 108.3 90.0 46.5 3.1 4.0 59.6 64.1 58.4 67.4 68.6 54.6 46.8 24.9 12 11.8
Income Tax Expense 125.8 99.6 48.5 73.3 92.5 72.6 76.8 78.4 102.1 105.8 99.8 82.0 71.9 55.7 43.8 38.9 35.4 18.2 11.4 1.6 23.6 25.3 23.1 27.1 28.4 24.1 19.2 10.4 3.4 0.2
Net Income 319.0 306.9 161.8 203.8 291.2 214.5 240.8 220.8 209.4 178.4 157.8 145.4 116.7 76.1 81.2 70.4 46.5 6.7 (8.3) 2.5 36.1 38.8 35.3 40.3 36.2 30.5 27.6 14.5 8.6 11.6
Per Share Data
EPS (Basic) 5.56 5.03 2.65 3.30 4.69 3.40 3.73 3.37 3.19 2.71 2.37 2.15 1.71 1.12 1.18 1.01 0.66 0.09 -0.09 0.03 0.42 0.45 0.42 0.45 0.42 0.36 0.34 0.22 0.17 0.39
EPS (Diluted) 5.51 4.99 2.63 3.29 4.67 3.39 3.72 3.35 3.17 2.69 2.35 2.11 1.67 1.09 1.14 0.98 0.65 0.09 -0.09 0.03 0.42 0.44 0.42 0.43 0.40 0.36 0.33 0.21 0.16 0.39
Shares Outstanding 57.4 61.0 61.1 61.8 62.1 63.1 64.5 65.5 65.6 65.8 66.7 67.7 68.2 67.7 68.8 69.7 70.3 76.2 87.5 85.9 85.3 86.4 84.0 90.7 86.8 84.2 82.1 71.7 56.7 30
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996
Current Assets
Cash & Cash Equivalents 260.5 235.8 122.1 136.8 156.6 88.6 116.5 356.5 179.8 80.3 91.7 121.0 93.2 117.4 95.0 114.1 37.0 61.6 19.4 11 2.3
Short-Term Investments 0 0 0 0 0 0 0 20.3 0 0 0 0 47.4 0.1 0.2 1.2 1.4 37.2 0 0 0
Net Receivables 902.0 884.8 843.4 809.3 840.2 788.3 621.4 395.1 435.3 498.1 149.5 172.8 154.1 144.1 133.2 119.0 102.5 92.1 72.3 39.3 25.4
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5.5 0 0 0 0 0
Other Current Assets 90.5 80.0 89.9 86.2 0 55.7 51.6 36.7 42.1 42.6 43.4 31.4 9.7 7.1 0 20.4 33.6 5.7 14.7 42.8 4.5
Total Current Assets 1,252.9 1,200.5 1,055.5 1,032.3 1,079.5 932.6 789.4 808.6 657.2 621.0 292.1 325.1 304.4 275.8 235.4 260.2 174.4 196.6 112.4 93.1 32.2
Non-Current Assets
Property, Plant & Equipment 131.5 172.6 202.8 185.1 242.0 243.9 99.6 77.5 101.7 131.6 45.3 34.0 25.7 26.2 25.4 20.5 18.7 14.7 4.5 2.9 2.6
Goodwill 1,782.1 1,782.9 1,779.2 1,779.4 1,774.4 593.1 584.5 399.9 403.0 397.6 61.0 60.7 84.9 0 68.8 0 0 0 0 0 0
Intangible Assets 752.5 818.2 811.5 863.6 922.0 183.9 211.6 110.5 125.5 139.2 21.4 17.8 28.1 89.0 6.5 49.8 52.6 8.3 1 0 0
Long-Term Investments 5.5 12.6 31.4 31.4 0 0 0 0 0 0 0 1.3 4.4 (3.4) (1.8) 0 (1.4) 0 0 0 0
Other Non-Current Assets 133.6 129.9 103.0 95.8 100.1 69.3 60.4 58.6 55.6 50.9 10.9 (1.8) 17.3 24.1 15.9 14.4 11.2 3.4 3.6 0.8 0.7
Total Non-Current Assets 2,816.7 2,931.0 2,930.3 2,960.4 3,039.5 1,092.1 956.3 653.4 693.4 727.8 141.1 133.9 160.3 139.2 116.7 87.5 82.5 26.4 8.1 3.7 3.3
Total Assets 4,069.6 4,131.5 3,985.8 3,992.7 4,119.0 2,024.7 1,745.7 1,462 1,350.7 1,348.8 433.2 458.9 464.7 415.0 352.1 347.7 256.9 223 120.5 96.8 35.5
Current Liabilities
Account Payables 296.9 303.3 282.1 264.6 305.6 253.3 177.8 114.4 122.1 150.7 44.4 49.0 27.5 21.6 10.9 12.7 12.6 10.3 10 3.9 2
Short-Term Debt 91.3 87.8 136.7 127.5 156.6 91.6 9.7 0 0.1 0.3 0 0.4 1.6 0.8 0 0 0.2 0 0.2 1.6 0
Deferred Revenue 53.8 83.2 60.5 87.1 98.6 51.7 43.3 51.2 71.7 73.7 22.2 19.7 21.2 22.4 12.9 10.8 0 0 0 0 0
Other Current Liabilities 68.9 69.5 49.1 116.4 35.1 22.1 12.7 11.9 11.9 11.6 51.4 84.6 22.6 29.7 5.9 3.7 33.9 35.8 25.2 25 7.5
Total Current Liabilities 765.2 807.5 723.0 774.4 789.4 561.2 364.2 277.4 316.3 340.8 127.5 173.3 74.9 74.5 49.5 45.8 46.6 46.1 35.4 30.5 9.5
Non-Current Liabilities
Long-Term Debt 1,281.6 1,092.0 1,163.1 1,292.5 1,429.1 18.0 0.2 0 0.5 165.3 0 0 0 0 0 0 0.6 0.6 0.6 0 0
Deferred Tax Liabilities 149.0 169.1 203.9 206.1 194.6 24.7 46.6 26.4 20.1 16.8 0.2 1.6 10.8 2.7 0 1.8 0 0 0 0 0
Other Non-Current Liabilities 84.8 77.8 59.7 62.7 67.7 47.6 54.4 51.4 39.8 32.8 0.6 (9.3) 0.4 0.7 0.5 0.5 0.8 0.8 (0.2) 0.2 16.8
Total Non-Current Liabilities 1,630.4 1,481.2 1,594.9 1,668.9 1,849.2 221.7 133.3 98.1 88.6 254.9 7.4 (1.0) 16.3 7.3 0.5 0.5 1.3 1.4 0.4 0.2 16.8
Total Liabilities 2,395.6 2,288.7 2,318.0 2,443.3 2,638.6 782.9 497.5 375.6 404.9 595.7 136.1 183.2 91.2 81.7 50.0 46.3 48.0 47.5 35.8 30.7 26.3
Stockholders' Equity
Common Stock 628.1 598.3 577.9 558.0 532.4 514.0 498.4 487.5 475.6 461.7 338.7 328.3 148.0 146.2 144.2 185.7 133.1 130.5 0 0 0
Retained Earnings 1,063.8 1,277.0 1,117.6 1,025.4 987.8 770.5 794.7 633.3 492.1 323.6 269.3 230.9 225.9 187.2 157.9 115.8 75.9 45.2 18.2 (0.6) 9.2
Accumulated Other Comprehensive Income (17.9) (32.5) (27.6) (34.0) (39.9) (42.6) (45.4) (37.0) (27.6) (36.2) 8.3 5.5 (0.3) (0.1) 0.0 (0.0) (0.0) (0.3) (4.5) (1.3) (1.1)
Total Stockholders' Equity 1,674.0 1,842.8 1,667.8 1,549.4 1,480.3 1,241.8 1,247.8 1,083.9 940.1 749.1 297.1 275.7 373.5 333.3 302.1 301.4 208.9 175.5 84.7 66.1 9.2
Total Liabilities & Equity 4,069.6 4,131.5 3,985.8 3,992.7 4,119.0 2,024.7 1,745.7 1,462 1,350.7 1,348.8 433.2 458.9 464.7 415.0 352.1 347.7 256.9 223 120.5 96.8 35.5
Debt Metrics
Total Debt 1,444.2 1,277.0 1,429.2 1,506.1 1,707.5 213.7 9.9 0.1 0.7 165.6 0 0.4 6.8 4.6 0 0 0.8 0.6 0.8 1.6 0
Net Debt 1,183.7 1,041.2 1,307.1 1,369.3 1,551.0 125.1 (106.8) (356.5) (179.1) 85.3 (91.7) (120.5) (91.6) (112.7) (95.0) (114.1) (36.2) (61) (18.9) (10.8) (2.3)
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Operating Activities
Net Income 319.0 306.9 161.8 203.8 291.2 214.5 240.5 220.8 212.2 180.2 36.1 38.8 35.3 40.3 36.2 30.5 27.6 14.5 8.6 11.6
Depreciation & Amortization 133.7 125.5 149.3 132.8 90.7 100.2 85.5 62.2 68.0 71.8 15.1 13.2 11.2 7.3 10.1 6.2 2.7 2.4 0.4 0.3
Stock-Based Compensation 41.2 35.3 29.5 30.5 28.6 23.7 20.8 20.2 21.4 18.8 1.4 1.0 0.9 0.3 0.9 0.5 0 0 0 0
Change in Working Capital (90.2) 78.9 (31.6) (79.4) 104.1 (72.9) (2.7) 13.6 31.6 (89.4) 13.7 (23.1) 8.1 5.9 (16.0) (34.7) 0.3 (22.2) 3.7 (8.8)
Other Non-Cash Items 42.3 4.6 3.7 (8.0) 9.4 (1.7) 0 113.5 (0.7) (6.9) 3.0 3.9 1.8 1.8 6.7 (0.4) 0.1 0.1 (0.2) 0
Operating Cash Flow 429.4 515.3 314.3 289.8 517.3 244.6 356.7 323.5 337.2 180.0 74.1 47.1 55.0 58.4 38.4 4.1 27.9 (7.1) 17.3 3.1
Investing Activities
Capital Expenditure (63.2) (114.2) (90.7) (56.1) (36.6) (40.7) (66.8) (26.5) (24.2) (46.4) (13.3) (6.5) (6.8) (7.8) (5.1) (5.0) (21.8) (1) (0.5) (0.3)
Acquisitions 0 3.1 9.7 (14.3) (1,798.9) (3.8) (437.5) (0.2) (1.6) (41.1) (1.9) (6.6) (14.7) (23.7) (0.8) (53.3) 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 20.0 (20.0) 0 0 (71.6) (47.3) (0.0) 0 0.1 (23.2) (23.2) 0 (39.9) (1)
Sales/Maturities of Investments 0 0 0 0 0 0 (20.0) 0 0 0 0 0 0 1.1 0.1 36.1 0 27.8 0 0
Other Investing Activities 3.0 (18.0) 0 16.4 0 0.4 20.4 0.4 0.6 0.4 (10.5) (7.8) (4.1) (4.9) (7.5) 21.1 (0.1) (1.4) 0.1 0
Investing Cash Flow (60.3) (129.1) (81.0) (54.0) (1,835.5) (44.1) (483.9) (46.3) (25.2) (87.1) (97.4) (68.2) (25.7) (35.4) (13.1) (24.3) (45.1) 25.4 (40.3) (1.3)
Financing Activities
Net Debt Issuance 199.7 (112.0) (108.7) (155.7) 1,493.6 18.6 9.5 (0.1) (165.0) (45.4) (1.6) (1.2) (0.2) (0.3) (0.7) (6.8) (1.8) (2.5) 0.5 0.4
Stock Repurchased (447.5) (73.1) (8.5) (96.1) (3.4) (167.0) (47.4) (66.9) (28.9) (33.3) (16.1) (25.7) (21.9) (50.8) 0 0 0 0 (1.2) (0.9)
Dividends Paid (68.7) (72.9) (68.1) (68.7) (68.8) (70.2) (63.9) (11.7) (11.7) (11.7) (6.4) 0 0 0 0 0 (0.8) (7.4) (21.7) (2.2)
Other Financing Activities (27.4) (17.6) (65.6) 72.2 (35.8) (11.6) (9.0) (13.1) (10.8) (7.0) 0 0 0 0 0 0 0 (0.3) (0.1) 0
Financing Cash Flow (343.9) (275.6) (250.8) (248.3) 1,385.7 (230.1) (110.9) (91.9) (215.4) (96.8) (9.5) (4.4) (6.9) (42.1) 51.8 (4.5) 59.3 (9.9) 31.7 (1.9)
Cash Position
Net Change in Cash 24.7 113.7 (14.7) (19.8) 68.0 (27.9) (240.1) 183.0 100.1 (8.5) (32.8) (25.5) 22.4 (19.1) 77.1 (24.7) 42.2 8.4 8.7 (0.1)
Cash at Beginning 235.8 122.1 136.8 156.6 88.6 116.5 356.6 166.3 66.2 74.7 91.9 117.4 95.0 114.1 37.0 61.6 19.4 11 2.3 2.5
Cash at End 260.5 235.8 122.1 136.8 156.6 88.6 116.5 349.2 166.3 66.2 59.1 91.9 117.4 95.0 114.1 37.0 61.6 19.4 11 2.4
Free Cash Flow 366.2 401.1 223.6 233.7 480.8 203.9 289.9 297.0 313.0 133.6 60.8 40.6 48.2 50.5 33.3 (0.9) 6.1 (8.1) 16.8 2.8
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Income Statement
Revenue 5,431.3 5,306.2 4,904.7 4,631.0 4,254.5 3,461.5 2,886.8 2,392.2 2,451.0 2,403.4 2,099.8 1,700.9 1,331.3 1,050.1 929.6 831.7 717.3 745.1 738.6 700.9 647.5 603.8 558.3 518.7 487.3 399.2 319.5 233.5 127.9 103.1
Gross Profit 1,249.9 1,160.1 934.0 849.3 902.6 675.4 592.9 584.1 599.7 548.8 503.4 452.1 386.0 287.9 253.7 220.8 192.3 201.7 177.1 153.4 179.9 176.6 166.6 161.7 151.4 129.6 97 63 34.1 25
Operating Income 576.8 491.7 295.4 311.8 419.4 291.2 319.8 299.8 315.2 282.8 264.6 225.9 188.2 130.5 121.6 102.1 85.5 86.1 41.5 23.7 63.3 63.0 57.0 64.3 67.0 55.4 43.2 23.1 11 11.6
Net Income 319.0 306.9 161.8 203.8 291.2 214.5 240.8 220.8 209.4 178.4 157.8 145.4 116.7 76.1 81.2 70.4 46.5 6.7 (8.3) 2.5 36.1 38.8 35.3 40.3 36.2 30.5 27.6 14.5 8.6 11.6
EPS (Diluted) 5.51 4.99 2.63 3.29 4.67 3.39 3.72 3.35 3.17 2.69 2.35 2.11 1.67 1.09 1.14 0.98 0.65 0.09 -0.09 0.03 0.42 0.44 0.42 0.43 0.40 0.36 0.33 0.21 0.16 0.39
Balance Sheet
Cash & Equivalents 260.5 235.8 122.1 136.8 156.6 88.6 116.5 356.5 179.8 80.3 91.7 121.0 93.2 117.4 95.0 114.1 37.0 61.6 19.4 11 2.3
Total Assets 4,069.6 4,131.5 3,985.8 3,992.7 4,119.0 2,024.7 1,745.7 1,462 1,350.7 1,348.8 433.2 458.9 464.7 415.0 352.1 347.7 256.9 223 120.5 96.8 35.5
Total Debt 1,444.2 1,277.0 1,429.2 1,506.1 1,707.5 213.7 9.9 0.1 0.7 165.6 0 0.4 6.8 4.6 0 0 0.8 0.6 0.8 1.6 0
Stockholders' Equity 1,674.0 1,842.8 1,667.8 1,549.4 1,480.3 1,241.8 1,247.8 1,083.9 940.1 749.1 297.1 275.7 373.5 333.3 302.1 301.4 208.9 175.5 84.7 66.1 9.2
Cash Flow
Operating Cash Flow 429.4 515.3 314.3 289.8 517.3 244.6 356.7 323.5 337.2 180.0 74.1 47.1 55.0 58.4 38.4 4.1 27.9 (7.1) 17.3 3.1
Capital Expenditure (63.2) (114.2) (90.7) (56.1) (36.6) (40.7) (66.8) (26.5) (24.2) (46.4) (13.3) (6.5) (6.8) (7.8) (5.1) (5.0) (21.8) (1) (0.5) (0.3)
Free Cash Flow 366.2 401.1 223.6 233.7 480.8 203.9 289.9 297.0 313.0 133.6 60.8 40.6 48.2 50.5 33.3 (0.9) 6.1 (8.1) 16.8 2.8