Saturday 17 October 2026
Export MMS’s income statement to Excel — free account
Maximus, Inc.
MMS Industrials Specialty Business Services
Maximus, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $5.4 billion, up 2.36% from fiscal 2024. In the quarter to June 2026, revenue fell 5.15%, EPS grew 4.81%, free cash flow grew 30.9% and total debt fell 1.23%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five; insiders bought in the last twelve months.
61.47
1.23
+2.04%
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| Sep '25 | Sep '24 | Sep '23 | Sep '22 | Sep '21 | Sep '20 | Sep '19 | Sep '18 | Sep '17 | Sep '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
8 | 9 | 8 | 5 | 5 | 5 | 5 | 7 | 8 | — |
P/E ratio |
16.32 | 18.52 | 28.13 | 17.48 | 17.74 | 20.06 | 20.71 | 18.96 | 20.51 | 20.95 |
P/S ratio |
0.97 | 1.07 | 0.93 | 0.77 | 1.21 | 1.25 | 1.73 | 1.74 | 1.75 | 1.55 |
Altman Z-Score |
3.59 | 3.71 | 3.15 | 2.74 | 2.95 | 6.24 | 9.19 | 10.15 | 9.67 | 6.82 |
P/FCF ratio |
14.90 | 14.70 | 21.67 | 15.15 | 0.00 | 22.73 | 18.07 | 15.11 | 14.40 | 31.15 |
Altman Z″-Score (non-manufacturers) |
3.24 | 3.27 | 2.71 | 2.48 | 2.50 | 5.07 | 6.94 | 8.19 | 6.86 | 4.90 |
P/Operating CF |
8.08 | 34.71 | 31.40 | 29.77 | (21.69) | 29.05 | 53.57 | 32.49 | 50.92 | 51.78 |
Beneish M-Score |
(2.66) | (2.72) | (2.64) | (2.56) | (2.82) | (2.38) | (2.22) | (2.86) | (2.96) | (2.30) |
Dividend Safety Score |
85 | — | — | — | — | — | — | — | — | — |
P/B ratio |
3.13 | 3.09 | 2.72 | 2.31 | 3.49 | 3.47 | 3.99 | 3.84 | 4.54 | 4.94 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 8.58 | 10.29 | 6.97 | 9.67 | 15.10 |
EV/Sales |
1.17 | 1.25 | 1.17 | 1.06 | 1.54 | 1.23 | 1.69 | 1.60 | 1.69 | 1.59 |
EV/EBITDA |
9.56 | 10.75 | 12.81 | 10.59 | 12.86 | 11.00 | 12.14 | 10.67 | 10.86 | 10.67 |
EV/Operating CF |
14.81 | 12.88 | 18.21 | 16.87 | 768.48 | 17.46 | 13.70 | 12.05 | 12.32 | 21.23 |
EV/FCF |
18.06 | 17.15 | 27.32 | 20.72 | (155.05) | 22.51 | 17.72 | 13.82 | 13.90 | 31.98 |
Quick Ratio |
1.47 | 1.32 | 1.26 | 1.10 | 1.24 | 1.53 | 2.00 | 2.76 | 1.90 | 1.66 |
Current Ratio |
1.64 | 1.49 | 1.46 | 1.33 | 1.37 | 1.66 | 2.17 | 2.91 | 2.08 | 1.82 |
Net Debt/EBITDA |
1.67 | 1.54 | 2.65 | 2.85 | 2.70 | (0.11) | (0.24) | (1.03) | (0.43) | 0.28 |
Debt/Assets |
32.79% | 27.40% | 31.36% | 33.96% | 36.65% | 1.43% | 0.57% | 0.01% | 0.07% | 12.28% |
Debt/Equity |
0.80 | 0.61 | 0.75 | 0.88 | 1.02 | 0.02 | 0.01 | 0.00 | 0.00 | 0.22 |
Asset Turnover |
1.32 | 1.31 | 1.23 | 1.14 | 1.39 | 1.84 | 1.80 | 1.70 | 1.82 | 1.83 |
Operating CF/Net income |
1.35 | 1.68 | 1.94 | 1.42 | 1.78 | 1.14 | 1.48 | 1.44 | 1.61 | 1.01 |
Capex/Depreciation |
(0.46) | (0.88) | (0.60) | (0.29) | (0.37) | (0.41) | (0.78) | (0.43) | (0.36) | (0.65) |
Interest Coverage |
6.28 | 5.93 | 3.50 | 7.09 | 27.71 | 140.01 | 107.24 | 295.48 | 145.01 | 69.33 |
| 18.14% | 17.48% | 10.06% | 13.46% | 21.39% | 17.23% | 20.63% | 21.73% | 24.65% | 26.06% | |
| 7.78% | 7.56% | 4.06% | 5.03% | 9.48% | 11.38% | 15.02% | 15.70% | 15.52% | 13.61% | |
ROIC |
11.85% | 10.94% | 6.46% | 7.11% | 8.94% | 15.03% | 17.20% | 25.76% | 25.10% | 21.01% |
Return on Tangible Assets |
61.50% | 71.05% | 43.58% | 65.72% | 82.57% | 48.96% | 45.89% | 36.26% | 47.31% | 43.31% |
Average Days of Receivables |
60.62 | 60.86 | 62.77 | 63.78 | 72.09 | 83.12 | 78.57 | 60.29 | 64.83 | 75.64 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
13.13% | 12.66% | 13.03% | 11.54% | 11.61% | 11.18% | 11.12% | 11.92% | 11.61% | 11.20% |
Intangible Assets out of Total Assets |
0.57 | 0.58 | 0.62 | 0.65 | 0.64 | 0.37 | 0.44 | 0.33 | 0.37 | 0.38 |
Share Based Compensation of Revenue |
0.76% | 0.67% | 0.60% | 0.66% | 0.67% | 0.68% | 0.72% | 0.85% | 0.87% | 0.78% |
Graham Net Nets |
(0.22) | (0.19) | (0.28) | (0.39) | (0.30) | 0.03 | 0.06 | 0.10 | 0.06 | 0.01 |
Graham Number |
60.61 | 58.45 | 40.26 | 43.22 | 50.17 | 38.87 | 40.30 | 35.41 | 32.16 | 26.36 |
Earnings Yield |
6.13% | 5.40% | 3.55% | 5.72% | 5.64% | 4.98% | 4.83% | 5.27% | 4.88% | 4.77% |
Free Cash Flow Yield |
6.71% | 6.80% | 4.62% | 6.60% | (0.82%) | 4.40% | 5.53% | 6.62% | 6.94% | 3.21% |
Revenue per Share |
94.60 | 86.92 | 80.24 | 74.97 | 68.54 | 54.89 | 44.76 | 36.52 | 37.34 | 36.51 |
Operating CF per Share |
7.48 | 8.44 | 5.14 | 4.69 | 8.33 | 3.88 | 5.53 | 4.84 | 5.13 | 2.74 |
Capex per Share |
(1.10) | (1.87) | (1.48) | (0.64) | (0.59) | (0.65) | (1.04) | (0.40) | (0.37) | (0.70) |
Free Cash Flow per Share |
6.38 | 6.57 | 3.66 | 4.05 | 7.75 | 3.23 | 4.49 | 4.43 | 4.76 | 2.03 |
Cash per Share |
3.87 | 3.00 | 1.07 | 0.66 | 2.18 | 1.14 | 1.64 | 5.64 | 2.53 | 1.01 |
Shareholders Equity per Share |
29.16 | 30.19 | 27.29 | 25.08 | 23.85 | 19.69 | 19.35 | 16.59 | 14.41 | 11.44 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
29.16 | 30.19 | 27.29 | 25.08 | 23.85 | 19.69 | 19.35 | 16.59 | 14.41 | 11.44 |
Free Cash Flow |
366.16 | 401.07 | 223.65 | 250.13 | 480.76 | 203.89 | 289.88 | 290.25 | 312.27 | 133.64 |
Working Capital |
487.76 | 393.02 | 332.45 | 257.87 | 290.06 | 371.39 | 425.19 | 531.18 | 340.98 | 280.22 |
Capital Expenditures |
(63.21) | (114.19) | (90.69) | (39.71) | (36.56) | (40.71) | (66.85) | (26.52) | (24.15) | (46.39) |
Net Current Asset Value |
(1,142.68) | (1,088.15) | (1,262.50) | (1,411.03) | (1,559.14) | 149.68 | 291.89 | 433.05 | 252.35 | 25.30 |
EV/EBIT |
12.03 | 13.59 | 19.42 | 15.01 | 16.01 | 14.82 | 15.41 | 12.92 | 13.22 | 13.34 |
Capex to Sales |
0.01 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 |
Price to Operating Income |
9.93 | 11.64 | 15.40 | 10.97 | 12.64 | 14.97 | 15.71 | 14.13 | 13.70 | 12.99 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
4.41 | 3.31 | 3.92 | 2.60 | 1.60 | 1.50 | 0.86 | 0.80 | 0.67 | 0.55 |
Cash ROIC |
11.33% | 12.70% | 7.50% | 8.49% | 15.38% | 15.19% | 21.26% | 19.93% | 28.06% | 13.57% |
Accounts Receivable Turnover |
6.08 | 6.14 | 5.94 | 5.62 | 5.23 | 4.91 | 5.68 | 5.76 | 5.25 | 5.15 |
Accounts Payable Turnover |
13.65 | 13.85 | 14.18 | 12.95 | 11.84 | 12.76 | 15.17 | 15.21 | 13.48 | 12.03 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
26.44 | 27.31 | 26.56 | 26.16 | 33.72 | 33.62 | 29.29 | 23.22 | 24.23 | 29.88 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
893.40 | 864.11 | 826.35 | 824.75 | 814.26 | 704.83 | 508.25 | 415.23 | 466.70 | 466.24 |
Average Payables |
300.10 | 292.70 | 273.32 | 285.06 | 279.45 | 215.56 | 146.08 | 118.23 | 136.40 | 153.06 |
Average Assets |
4,100.57 | 4,058.65 | 3,989.26 | 4,055.84 | 3,071.83 | 1,885.22 | 1,603.87 | 1,406.33 | 1,349.74 | 1,310.19 |
Average Common Equity |
1,758.43 | 1,755.33 | 1,608.60 | 1,514.85 | 1,361.07 | 1,245.01 | 1,167.31 | 1,016.09 | 849.45 | 684.42 |
Columns are period end dates