Maximus, Inc.
Rank #215Capital ReturnMMS · NYSE · Industrials
Maximus, Inc. (MMS) — Rank #215 by gross profitability (GP/assets 0.31) · ROE 18.3% · Piotroski F-Score 8 / 9.
As-of 2026-09-28 · CIK 0001032220 · all metrics point-in-time as of the filing date.
About
Maximus, Inc. operates as a provider of government services worldwide.
Show moreShow less
The company operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Federal Services segment offers business process services, eligibility and enrollment, outreach, and other services for federal health and human services programs; clinical services; and technology solutions, such as application development and modernization services, enterprise business solutions, advanced analytics and emerging technologies, cybersecurity services, data management, and infrastructure and engineering solutions. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; subsidized telephone services; and person-centered independent assessment services. This segment also provides employment services, such as eligibility support, case management, job-readiness preparation, job search and employer outreach, job retention and career advancement, and educational and training services; technology solutions; and system implementation project management services. The Outside the U.S. segment offers BPS and technology solutions for international governments, including health and disability assessments, program administration for employment services, wellbeing solutions and other job seeker-related services, digitally-enabled customer services, and technologies for modernization. Maximus, Inc.
was founded in 1975 and is headquartered in McLean, Virginia.
- Industry
- Specialty Business Services
- Sector
- Industrials
- State
- VA
- Filer Category
- Large accelerated filer
- Fiscal Year End
- September 30
- Website
- maximus.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
37,200
Industry
Specialty Business Services
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.31
Primary signal (Novy-Marx).
7th of 10 SIC 7389 peers
Return on equity
18.3%
Gross margin
24.6%
9th of 10 SIC 7389 peers
Revenue growth (YoY)
2.4%
RPO growth (YoY)
-10.8%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
5.5%
Revenue CAGR (5Y)
9.4%
Earnings CAGR (3Y)
16.1%
FCF CAGR (3Y)
16.1%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.57
9th of 9 SIC 7389 peers (best = lowest)
Current ratio
2.42×
6th of 10 SIC 7389 peers
Quick ratio
2.12×
Net cash
-$1.58B
Cash & equivalents minus total debt.
Recession resistance
Revenue through recessions
Worst single-year YoY revenue decline, 17 years of history
Cash-flow health
Free cash flow
$366.16M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.15
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.8%
Stock-based comp intensity.
Piotroski F-Score
F-Score
8 / 9
Fundamental-strength score (0-9).