(MMS) Maximus - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US5779331041

Eligibility, Enrollment, Assessments, Contact Centers, Technology

Data Processing & Outsourced Services
Market Cap in USD: 5,060m

IPO / Inception: 1997-06-12
12m vs SPY: 4.84%

EPS (Earnings per Share)

EPS CAGR: -43.26%
EPS Trend: 38.0%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 3.69%
Rev. Trend: 88.9%

Last SUE: -0.59
Qual. Beats: 0

Dividends

Dividend Yield	1.58%
Yield on Cost 5y	1.70%
Yield CAGR 5y	1.74%
Payout Consistency	96.8%
Payout Ratio	16.2%

Risk via 5d forecast
Volatility	25.0%
Value at Risk 5%th	35.9%
Relative Tail Risk	-12.79%

Reward TTM
Sharpe Ratio	0.85
Alpha	16.66
CAGR/Max DD	0.38

Character TTM
Hurst Exponent	0.462
Beta	0.377
Beta Downside	0.312

Drawdowns 3y
Max DD	30.37%
Mean DD	9.26%
Median DD	6.07%

Description: MMS Maximus January 10, 2026

Maximus, Inc. (NYSE:MMS) delivers outsourced government services across three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The Federal segment provides business-process outsourcing, eligibility and enrollment, clinical and technology solutions-including analytics, cybersecurity, and cloud modernization-for health and human-services programs. The U.S. Services segment focuses on eligibility support, multilingual contact centers, benefit counseling, and employment-service programs, while the Outside-the-U.S. segment offers similar BPS and technology offerings to international governments.

Key operating metrics that analysts watch include the company’s FY 2023 revenue of approximately $4.5 billion, up roughly 7 % YoY, driven largely by a 12 % increase in the Federal Services backlog. Gross margins have hovered near 24 %, reflecting the higher-margin technology and analytics contracts. A material macro driver is the U.S. federal budget outlook-particularly Medicaid and SNAP spending-which historically accounts for about 70 % of Maximus’ revenue and can swing earnings materially.

For a deeper dive into Maximus’ valuation metrics and peer comparison, the ValueRay platform offers a concise data sheet worth reviewing.

Piotroski VR‑10 (Strict, 0-10) 7.0

Net Income (319.0m TTM) > 0 and > 6% of Revenue (6% = 325.9m TTM)

FCFTA 0.09 (>2.0%) and ΔFCFTA -0.27pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 8.98% (prev 7.41%; Δ 1.57pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.11 (>3.0%) and CFO 429.4m > Net Income 319.0m (YES >=105%, WARN >=100%)

Net Debt (1.18b) to EBITDA (662.6m) ratio: 1.79 <= 3.0 (WARN <= 3.5)

Current Ratio 1.64 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (57.0m) change vs 12m ago -7.31% (target <= -2.0% for YES)

Gross Margin 22.86% (prev 21.86%; Δ 0.99pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 132.5% (prev 128.4%; Δ 4.02pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 6.29 (EBITDA TTM 662.6m / Interest Expense TTM 84.1m) >= 6 (WARN >= 3)

Altman Z'' 3.24

(A) 0.12 = (Total Current Assets 1.25b - Total Current Liabilities 765.2m) / Total Assets 4.07b

(B) 0.26 = Retained Earnings (Balance) 1.06b / Total Assets 4.07b

(D) 0.70 = Book Value of Equity 1.67b / Total Liabilities 2.40b

Total Rating: 3.24 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 77.55

1. Piotroski 7.0pt

2. FCF Yield 5.83%

3. FCF Margin 6.74%

4. Debt/Equity 0.86

5. Debt/Ebitda 1.79

6. ROIC - WACC (= 6.60)%

7. RoE 18.87%

8. Rev. Trend 88.85%

9. EPS Trend 38.05%

What is the price of MMS shares?

As of January 13, 2026, the stock is trading at USD 96.59 with a total of 298,591 shares traded.
Over the past week, the price has changed by +7.57%, over one month by +14.40%, over three months by +13.77% and over the past year by +26.82%.

Is MMS a buy, sell or hold?

Maximus has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy MMS.

Strong Buy: 0
Buy: 2
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the MMS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	110	13.9%
Analysts Target Price	110	13.9%
ValueRay Target Price	103.6	7.2%

MMS Fundamental Data Overview January 07, 2026

P/E Trailing = 15.6976
P/E Forward = 18.2482
P/S = 0.9316
P/B = 2.8131
P/EG = 2.0716
Beta = 0.553
Revenue TTM = 5.43b USD
EBIT TTM = 528.9m USD
EBITDA TTM = 662.6m USD
Long Term Debt = 1.28b USD (from longTermDebt, last quarter)
Short Term Debt = 91.3m USD (from shortTermDebt, last quarter)
Debt = 1.44b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.18b USD (from netDebt column, last quarter)
Enterprise Value = 6.28b USD (5.06b + Debt 1.44b - CCE 222.4m)
Interest Coverage Ratio = 6.29 (Ebit TTM 528.9m / Interest Expense TTM 84.1m)
EV/FCF = 17.15x (Enterprise Value 6.28b / FCF TTM 366.2m)
FCF Yield = 5.83% (FCF TTM 366.2m / Enterprise Value 6.28b)
FCF Margin = 6.74% (FCF TTM 366.2m / Revenue TTM 5.43b)
Net Margin = 5.87% (Net Income TTM 319.0m / Revenue TTM 5.43b)
Gross Margin = 22.86% ((Revenue TTM 5.43b - Cost of Revenue TTM 4.19b) / Revenue TTM)
Gross Margin QoQ = 23.55% (prev 24.96%)
Tobins Q-Ratio = 1.54 (Enterprise Value 6.28b / Total Assets 4.07b)
Interest Expense / Debt = 1.55% (Interest Expense 22.4m / Debt 1.44b)
Taxrate = 25.06% (25.2m / 100.5m)
NOPAT = 396.4m (EBIT 528.9m * (1 - 25.06%))
Current Ratio = 1.64 (Total Current Assets 1.25b / Total Current Liabilities 765.2m)
Debt / Equity = 0.86 (Debt 1.44b / totalStockholderEquity, last quarter 1.67b)
Debt / EBITDA = 1.79 (Net Debt 1.18b / EBITDA 662.6m)
Debt / FCF = 3.23 (Net Debt 1.18b / FCF TTM 366.2m)
Total Stockholder Equity = 1.69b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.78% (Net Income 319.0m / Total Assets 4.07b)
RoE = 18.87% (Net Income TTM 319.0m / Total Stockholder Equity 1.69b)
RoCE = 17.80% (EBIT 528.9m / Capital Employed (Equity 1.69b + L.T.Debt 1.28b))
RoIC = 12.55% (NOPAT 396.4m / Invested Capital 3.16b)
WACC = 5.95% (E(5.06b)/V(6.50b) * Re(7.31%) + D(1.44b)/V(6.50b) * Rd(1.55%) * (1-Tc(0.25)))
Discount Rate = 7.31% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -3.77%
[DCF Debug] Terminal Value 85.60% ; FCFF base≈372.9m ; Y1≈354.0m ; Y5≈337.7m
Fair Price DCF = 161.6 (EV 9.99b - Net Debt 1.18b = Equity 8.80b / Shares 54.5m; r=5.95% [WACC]; 5y FCF grow -6.60% → 2.90% )
EPS Correlation: 38.05 | EPS CAGR: -43.26% | SUE: -4.0 | # QB: 0
Revenue Correlation: 88.85 | Revenue CAGR: 3.69% | SUE: -0.59 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.02 | Chg30d=+0.070 | Revisions Net=+0 | Analysts=2
EPS current Year (2026-09-30): EPS=8.17 | Chg30d=+0.545 | Revisions Net=+2 | Growth EPS=+11.0% | Growth Revenue=+0.7%
EPS next Year (2027-09-30): EPS=8.68 | Chg30d=+0.500 | Revisions Net=+2 | Growth EPS=+6.2% | Growth Revenue=+5.0%

Additional Sources for MMS Stock

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