(MMS) Maximus - Overview
Sector: Industrials | Industry: Specialty Business Services | Exchange: NYSE (USA) | Market Cap: 3.214m USD | Total Return: -17% in 12m
Avg Turnover: 55.5M
EPS Trend: 95.2%
Qual. Beats: 0
Rev. Trend: 86.9%
Qual. Beats: 0
Warnings
Earnings expected to drop: P/E 9.2 → Forward 19.1
Below Avwap Earnings
Tailwinds
Shakeout
Maximus, Inc. (NYSE: MMS) is a global provider of government services, specializing in business process services (BPS), clinical assessments, and technology modernization for federal, state, and international agencies. The company operates through three primary segments: U.S. Federal Services, U.S. Services, and Outside the U.S., managing critical infrastructure for health, human services, and employment programs.
The business model relies on long-term government contracts, which often provide stable, recurring revenue streams and high barriers to entry due to complex regulatory requirements. As a leader in the Data Processing & Outsourced Services sub-industry, Maximus facilitates large-scale digital transformations and eligibility enrollments for programs like Medicaid, Medicare, and international disability assessments.
Investors looking for deeper fundamental insights can find additional data on ValueRay. Founded in 1975 and headquartered in McLean, Virginia, Maximus maintains a significant footprint in the public sector by integrating advanced analytics and cybersecurity into essential government operations.
- Medicaid redetermination volume drives fluctuations in U.S. Services segment revenue
- Federal contract wins and renewals dictate long-term organic growth trajectory
- Shift toward high-margin clinical and technology services improves consolidated EBITDA
- Rising labor costs and staffing shortages impact operational delivery margins
- Government budgetary cycles and legislative changes influence federal outsourcing demand
| Net Income: 373.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 3.56 > 1.0 |
| NWC/Revenue: 15.55% < 20% (prev 11.25%; Δ 4.30% < -1%) |
| CFO/TA 0.10 > 3% & CFO 411.8m > Net Income 373.3m |
| Net Debt (1.48b) to EBITDA (718.0m): 2.05 < 3 |
| Current Ratio: 2.21 > 1.5 & < 3 |
| Outstanding Shares: last quarter (54.9m) vs 12m ago -3.74% < -2% |
| Gross Margin: 23.83% > 18% (prev 0.22%; Δ 2.36k% > 0.5%) |
| Asset Turnover: 126.0% > 50% (prev 128.5%; Δ -2.43% > 0%) |
| Interest Coverage Ratio: 6.62 > 6 (EBITDA TTM 718.0m / Interest Expense TTM 88.0m) |
| A: 0.20 (Total Current Assets 1.51b - Total Current Liabilities 681.7m) / Total Assets 4.24b |
| B: 0.25 (Retained Earnings 1.08b / Total Assets 4.24b) |
| C: 0.14 (EBIT TTM 582.4m / Avg Total Assets 4.22b) |
| D: 0.67 (Book Value of Equity 1.70b / Total Liabilities 2.54b) |
| Altman-Z'' = 3.74 = AA |
| DSRI: 1.09 (Receivables 1.18b/1.10b, Revenue 5.32b/5.40b) |
| GMI: 0.92 (GM 23.83% / 21.90%) |
| AQI: 0.95 (AQ_t 0.62 / AQ_t-1 0.65) |
| SGI: 0.99 (Revenue 5.32b / 5.40b) |
| TATA: -0.01 (NI 373.3m - CFO 411.8m) / TA 4.24b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of May 27, 2026, the stock is trading at USD 60.91 with a total of 513,208 shares traded.
Over the past week, the price has changed by +2.11%,
over one month by -5.82%,
over three months by -19.04% and
over the past year by -17.04%.
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
| Analysts Target Price | 105 | 72.4% |
P/E Trailing = 9.1847
P/E Forward = 19.084
P/S = 0.6044
P/B = 1.9007
P/EG = 2.0554
Revenue TTM = 5.32b USD
EBIT TTM = 582.4m USD
EBITDA TTM = 718.0m USD
Long Term Debt = 1.47b USD (from longTermDebt, last quarter)
Short Term Debt = 99.3m USD (from shortTermDebt, last quarter)
Debt = 1.72b USD (from shortLongTermDebtTotal, last quarter) + Leases 92.0m
Net Debt = 1.48b USD (calculated: Debt 1.72b - CCE 244.7m)
Enterprise Value = 4.69b USD (3.21b + Debt 1.72b - CCE 244.7m)
Interest Coverage Ratio = 6.62 (Ebit TTM 582.4m / Interest Expense TTM 88.0m)
EV/FCF = 12.61x (Enterprise Value 4.69b / FCF TTM 372.0m)
FCF Yield = 7.93% (FCF TTM 372.0m / Enterprise Value 4.69b)
FCF Margin = 7.00% (FCF TTM 372.0m / Revenue TTM 5.32b)
Net Margin = 7.02% (Net Income TTM 373.3m / Revenue TTM 5.32b)
Gross Margin = 23.83% ((Revenue TTM 5.32b - Cost of Revenue TTM 4.05b) / Revenue TTM)
Gross Margin QoQ = 24.65% (prev 22.18%)
Tobins Q-Ratio = 1.11 (Enterprise Value 4.69b / Total Assets 4.24b)
Interest Expense / Debt = 5.12% (Interest Expense 88.0m / Debt 1.72b)
Taxrate = 22.50% (28.5m / 126.5m)
NOPAT = 451.4m (EBIT 582.4m * (1 - 22.50%))
Current Ratio = 2.21 (Total Current Assets 1.51b / Total Current Liabilities 681.7m)
Debt / Equity = 1.01 (Debt 1.72b / totalStockholderEquity, last quarter 1.70b)
Debt / EBITDA = 2.05 (Net Debt 1.48b / EBITDA 718.0m)
Debt / FCF = 3.97 (Net Debt 1.48b / FCF TTM 372.0m)
Total Stockholder Equity = 1.72b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.85% (Net Income 373.3m / Total Assets 4.24b)
RoE = 21.75% (Net Income TTM 373.3m / Total Stockholder Equity 1.72b)
RoCE = 18.27% (EBIT 582.4m / Capital Employed (Equity 1.72b + L.T.Debt 1.47b))
RoIC = 13.23% (NOPAT 451.4m / Invested Capital 3.41b)
WACC = 6.92% (E(3.21b)/V(4.93b) * Re(8.50%) + D(1.72b)/V(4.93b) * Rd(5.12%) * (1-Tc(0.23)))
Discount Rate = 8.50% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -86.67 | Cagr: -4.93%
[DCF] Terminal Value 77.97% ; FCFF base≈310.8m ; Y1≈356.3m ; Y5≈524.4m
[DCF] Fair Price = 122.1 (EV 7.89b - Net Debt 1.48b = Equity 6.42b / Shares 52.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 95.19 | EPS CAGR: 26.67% | SUE: 0.37 | # QB: 0
Revenue Correlation: 86.88 | Revenue CAGR: 4.12% | SUE: -0.24 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.21 | Chg30d=-3.29% | Revisions=-33% | Analysts=2
EPS current Year (2026-09-30): EPS=8.44 | Chg30d=-0.94% | Revisions=+0% | GrowthEPS=+14.6% | GrowthRev=-2.5%
EPS next Year (2027-09-30): EPS=9.07 | Chg30d=-0.49% | Revisions=+0% | GrowthEPS=+7.5% | GrowthRev=+4.8%
[Analyst] Revisions Ratio: -33%