(MMS) Maximus - Overview

Sector: Industrials | Industry: Specialty Business Services | Exchange: NYSE (USA) | Market Cap: 3.589m USD | Total Return: -2.6% in 12m

Government Services, Technology, Health Assessments, Employment Services
Total Rating 44
Safety 93
Buy Signal -0.23
Specialty Business Services
Industry Rotation: -6.4
Market Cap: 3.59B
Avg Turnover: 47.4M USD
ATR: 3.78%
Peers RS (IBD): 56.3
Risk 5d forecast
Volatility30.0%
Rel. Tail Risk-13.1%
Reward TTM
Sharpe Ratio0.00
Alpha-28.58
Character TTM
Beta0.774
Beta Downside0.262
Drawdowns 3y
Max DD36.66%
CAGR/Max DD-0.17
EPS (Earnings per Share) EPS (Earnings per Share) of MMS over the last years for every Quarter: "2021-03": 1.29, "2021-06": 1.51, "2021-09": 0.83, "2021-12": 0.85, "2022-03": 0.8, "2022-06": 0.51, "2022-09": 1.13, "2022-12": 0.65, "2023-03": 0.52, "2023-06": 0.5, "2023-09": 0.96, "2023-12": 1.04, "2024-03": 1.31, "2024-06": 1.46, "2024-09": 1.46, "2024-12": 1.61, "2025-03": 2.01, "2025-06": 2.16, "2025-09": 1.62, "2025-12": 1.85, "2026-03": 0,
EPS CAGR: -35.51%
EPS Trend: 39.2%
Last SUE: -4.00
Qual. Beats: 0
Revenue Revenue of MMS over the last years for every Quarter: 2021-03: 959.28, 2021-06: 1243.52, 2021-09: 1106.131, 2021-12: 1150.876, 2022-03: 1177.326, 2022-06: 1125.785, 2022-09: 1177.031, 2022-12: 1249.246, 2023-03: 1206.852, 2023-06: 1188.677, 2023-09: 1259.953, 2023-12: 1327.041, 2024-03: 1348.357, 2024-06: 1314.929, 2024-09: 1315.87, 2024-12: 1402.675, 2025-03: 1361.786, 2025-06: 1348.4, 2025-09: 1318.415, 2025-12: 1345.046, 2026-03: null,
Rev. CAGR: 3.62%
Rev. Trend: 86.1%
Last SUE: -0.72
Qual. Beats: 0

Warnings

No concerns identified

Tailwinds

No distinct edge detected

Description: MMS Maximus

Maximus Inc (NYSE: MMS) is a global provider of government services, specializing in business process services (BPS), clinical assessments, and technology modernization for public sector programs. The company operates through three core segments: U.S. Federal Services, U.S. Services, and Outside the U.S., managing high-volume administrative tasks such as eligibility enrollment, case management, and multichannel customer contact centers.

The business model relies heavily on long-term government contracts, which often provide stable, recurring revenue streams and high barriers to entry due to complex regulatory requirements. Within the Data Processing & Outsourced Services sector, companies like Maximus are increasingly integrating advanced analytics and cybersecurity to assist government agencies in digitizing legacy infrastructure.

For a more granular look at the companys historical performance and valuation metrics, consider reviewing the data on ValueRay.

Founded in 1975 and headquartered in McLean, Virginia, Maximus serves federal, state, and international government entities, focusing on health and human services, disability assessments, and workforce development initiatives.

Headlines to Watch Out For
  • Government contract awards drive U.S. Federal Services revenue
  • Healthcare program enrollment changes impact U.S. Services segment
  • International government spending influences Outside the U.S. growth
  • Labor market conditions affect employment services demand
Piotroski VR‑10 (Strict) 6.0
Net Income: 371.8m TTM > 0 and > 6% of Revenue
FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.72 > 1.0
NWC/Revenue: 15.17% < 20% (prev 9.04%; Δ 6.13% < -1%)
CFO/TA 0.06 > 3% & CFO 265.0m > Net Income 371.8m
Net Debt (1.60b) to EBITDA (723.3m): 2.21 < 3
Current Ratio: 2.34 > 1.5 & < 3
Outstanding Shares: last quarter (55.3m) vs 12m ago -7.84% < -2%
Gross Margin: 23.47% > 18% (prev 0.22%; Δ 2.33k% > 0.5%)
Asset Turnover: 130.0% > 50% (prev 132.6%; Δ -2.60% > 0%)
Interest Coverage Ratio: 6.86 > 6 (EBITDA TTM 723.3m / Interest Expense TTM 85.7m)
Altman Z'' 3.81
A: 0.19 (Total Current Assets 1.42b - Total Current Liabilities 608.0m) / Total Assets 4.21b
B: 0.26 (Retained Earnings 1.11b / Total Assets 4.21b)
C: 0.14 (EBIT TTM 587.9m / Avg Total Assets 4.13b)
D: 0.69 (Book Value of Equity 1.72b / Total Liabilities 2.49b)
Altman-Z'' Score: 3.81 = AA
Beneish M -2.96
DSRI: 1.19 (Receivables 1.15b/964.0m, Revenue 5.37b/5.38b)
GMI: 0.92 (GM 23.47% / 21.59%)
AQI: 0.93 (AQ_t 0.62 / AQ_t-1 0.67)
SGI: 1.00 (Revenue 5.37b / 5.38b)
TATA: 0.03 (NI 371.8m - CFO 265.0m) / TA 4.21b)
Beneish M-Score: -2.96 (Cap -4..+1) = A
What is the price of MMS shares? As of April 13, 2026, the stock is trading at USD 65.88 with a total of 416,797 shares traded.
Over the past week, the price has changed by +3.39%, over one month by -9.04%, over three months by -31.49% and over the past year by -2.64%.
Is MMS a buy, sell or hold? Maximus has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy MMS.
  • StrongBuy: 0
  • Buy: 2
  • Hold: 0
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the MMS price?
Analysts Target Price 110 67%
Maximus (MMS) - Fundamental Data Overview as of 11 April 2026
P/E Trailing = 10.092
P/E Forward = 19.084
P/S = 0.6679
P/B = 1.9786
P/EG = 2.0554
Revenue TTM = 5.37b USD
EBIT TTM = 587.9m USD
EBITDA TTM = 723.3m USD
Long Term Debt = 1.51b USD (from longTermDebt, last quarter)
Short Term Debt = 95.8m USD (from shortTermDebt, last quarter)
Debt = 1.74b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.60b USD (from netDebt column, last quarter)
Enterprise Value = 5.19b USD (3.59b + Debt 1.74b - CCE 137.6m)
Interest Coverage Ratio = 6.86 (Ebit TTM 587.9m / Interest Expense TTM 85.7m)
EV/FCF = 23.74x (Enterprise Value 5.19b / FCF TTM 218.5m)
FCF Yield = 4.21% (FCF TTM 218.5m / Enterprise Value 5.19b)
FCF Margin = 4.07% (FCF TTM 218.5m / Revenue TTM 5.37b)
Net Margin = 6.92% (Net Income TTM 371.8m / Revenue TTM 5.37b)
Gross Margin = 23.47% ((Revenue TTM 5.37b - Cost of Revenue TTM 4.11b) / Revenue TTM)
Gross Margin QoQ = 22.18% (prev 23.55%)
Tobins Q-Ratio = 1.23 (Enterprise Value 5.19b / Total Assets 4.21b)
Interest Expense / Debt = 1.10% (Interest Expense 19.1m / Debt 1.74b)
Taxrate = 25.60% (32.3m / 126.3m)
NOPAT = 437.4m (EBIT 587.9m * (1 - 25.60%))
Current Ratio = 2.34 (Total Current Assets 1.42b / Total Current Liabilities 608.0m)
Debt / Equity = 1.01 (Debt 1.74b / totalStockholderEquity, last quarter 1.72b)
Debt / EBITDA = 2.21 (Net Debt 1.60b / EBITDA 723.3m)
Debt / FCF = 7.31 (Net Debt 1.60b / FCF TTM 218.5m)
Total Stockholder Equity = 1.71b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.99% (Net Income 371.8m / Total Assets 4.21b)
RoE = 21.76% (Net Income TTM 371.8m / Total Stockholder Equity 1.71b)
RoCE = 18.27% (EBIT 587.9m / Capital Employed (Equity 1.71b + L.T.Debt 1.51b))
RoIC = 13.58% (NOPAT 437.4m / Invested Capital 3.22b)
WACC = 6.13% (E(3.59b)/V(5.32b) * Re(8.70%) + D(1.74b)/V(5.32b) * Rd(1.10%) * (1-Tc(0.26)))
Discount Rate = 8.70% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -5.20%
[DCF] Terminal Value 85.24% ; FCFF base≈243.4m ; Y1≈231.0m ; Y5≈220.9m
[DCF] Fair Price = 86.74 (EV 6.33b - Net Debt 1.60b = Equity 4.73b / Shares 54.5m; r=6.13% [WACC]; 5y FCF grow -6.60% → 3.0% )
EPS Correlation: 39.20 | EPS CAGR: -35.51% | SUE: -4.0 | # QB: 0
Revenue Correlation: 86.08 | Revenue CAGR: 3.62% | SUE: -0.72 | # QB: 0
EPS next Quarter (2026-06-30): EPS=2.28 | Chg7d=+0.125 | Chg30d=+0.125 | Revisions Net=+2 | Analysts=2
EPS current Year (2026-09-30): EPS=8.52 | Chg7d=+0.345 | Chg30d=+0.345 | Revisions Net=+2 | Growth EPS=+15.7% | Growth Revenue=-0.6%
EPS next Year (2027-09-30): EPS=9.12 | Chg7d=+0.435 | Chg30d=+0.435 | Revisions Net=+2 | Growth EPS=+7.0% | Growth Revenue=+5.2%
[Analyst] Revisions Ratio: +1.00 (2 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = -1.2% (Discount Rate 8.7% - Earnings Yield 9.9%)
[Growth] Growth Spread = +1.8% (Analyst 0.6% - Implied -1.2%)
External Resources
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