Maximus, Inc. (MMS) Financial Statements
Industry: Business Services (Other) (Services)
In fiscal 2025, Maximus reported revenue of $5.43B, up 2.4% from $5.31B the year before. Net income was $319.0M (a 5.9% net margin), or $5.51 per diluted share. Gross margin was 24.6% and operating margin was 9.7%. Operating activities generated $429.4M of cash, leaving $366.2M of free cash flow. At fiscal year end, Maximus held $4.07B in total assets against $2.40B in total liabilities, including $222.4M of cash and equivalents.
Open the full interactive Maximus financials → Quarterly statements, key ratios, valuation history and price charts.
Maximus Key Stats
| Share Price | $58.08 |
|---|---|
| Market Cap | $3.08B |
| P/E Ratio | 10.5 |
| Revenue YoY Growth | +2.4% |
| 52-Week Range | $52.10 – $97.37 |
| Shares Outstanding | 52.9 million (basic, 2026 Q3) |
Maximus Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $3.46B | $4.25B | $4.63B | $4.90B | $5.31B | $5.43B |
| Gross Profit | $711.0M | $947.0M | $939.8M | $1.03B | $1.25B | $1.33B |
| Operating Income | $288.3M | $408.5M | $325.9M | $294.8M | $488.5M | $528.3M |
| Pre-Tax Income | $287.1M | $383.7M | $277.1M | $210.3M | $406.5M | $444.8M |
| Income Tax | $72.6M | $92.5M | $73.3M | $48.5M | $99.6M | $125.8M |
| Net Income | $214.5M | $291.2M | $203.8M | $161.8M | $306.9M | $319.0M |
| Diluted EPS | $3.39 | $4.67 | $3.29 | $2.63 | $4.99 | $5.51 |
Maximus Quarterly Results
| 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | |
|---|---|---|---|---|
| Revenue | $1.32B | $1.35B | $1.31B | $1.28B |
| Net Income | $75.3M | $93.9M | $98.1M | $103.6M |
| Diluted EPS | $1.30 | $1.70 | $1.80 | $1.95 |
Maximus Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $71.7M | $135.1M | $40.7M | $65.4M | $183.1M | $222.4M |
| Current Assets | $932.6M | $1.08B | $1.03B | $1.06B | $1.20B | $1.25B |
| Total Assets | $2.02B | $4.12B | $3.99B | $3.99B | $4.13B | $4.07B |
| Current Liabilities | $561.2M | $789.4M | $774.4M | $723.0M | $807.5M | $765.2M |
| Total Long-Term Debt | $28.9M | $1.51B | $1.36B | $1.25B | $1.13B | $1.33B |
| Total Liabilities | $782.9M | $2.64B | $2.44B | $2.32B | $2.29B | $2.40B |
| Shareholders' Equity | $1.24B | $1.48B | $1.55B | $1.67B | $1.84B | $1.67B |
Maximus Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $244.6M | $517.3M | $289.8M | $314.3M | $515.3M | $429.4M |
| Cash From Investing | -$44.1M | -$1.84B | -$54.0M | -$81.0M | -$129.1M | -$60.3M |
| Cash From Financing | -$230.1M | $1.39B | -$248.3M | -$250.8M | -$275.6M | -$343.9M |
| Free Cash Flow | $203.9M | $480.8M | $233.7M | $223.6M | $401.1M | $366.2M |
Figures from Maximus' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Maximus financials page for every line item.
Maximus Company Profile
| Ticker | MMS |
|---|---|
| Exchange | NYSE |
| Industry | Business Services (Other) (Services) |
| Headquarters | Mclean, Virginia |
| Incorporated in | Virginia |
| Fiscal Year End | September 30 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001032220 |
Frequently Asked Questions
What was Maximus' revenue in fiscal 2025?
Maximus (MMS) reported revenue of $5.43B for fiscal 2025.
What is Maximus' annual revenue history?
Maximus' annual revenue by fiscal year: 2020: $3.46B; 2021: $4.25B; 2022: $4.63B; 2023: $4.90B; 2024: $5.31B; 2025: $5.43B.
What was Maximus' net income in fiscal 2025?
Maximus reported net income of $319.0M for fiscal 2025.
What was Maximus' earnings per share (EPS) in fiscal 2025?
Maximus' diluted EPS was $5.51 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Maximus generate in fiscal 2025?
Maximus generated $366.2M of free cash flow in fiscal 2025.
What was Maximus' revenue last quarter?
In its most recent reported quarter (2026 Q3), Maximus reported revenue of $1.28B.
How much debt does Maximus have?
Maximus reported $1.33B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Maximus are outstanding?
Maximus reported a weighted average of 52.9 million basic shares outstanding in 2026 Q3.
What is Maximus' market cap?
Based on its latest closing price, Maximus (MMS) has a market capitalization of about $3.08B.
When does Maximus' fiscal year end?
Maximus' fiscal year end, as registered with the SEC, is September 30.
Where is Maximus headquartered?
Maximus lists its business address in Mclean, Virginia in its SEC filings.