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Maximus Inc (MMS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · SPECIALTY BUSINESS SERVICES · DATA UPDATED 2026-08-29

Maximus Inc (MMS) operates in the SPECIALTY BUSINESS SERVICES industry and is headquartered in McLean, United States with about 37,200 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2025-09-30, MMS reported $5.4B in revenue and $319M in net income.

Maximus, Inc. operates as a provider of government services worldwide. The company operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S.

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MMS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30
Total Revenue	$5.2B	$5.4B	$5.3B	$4.9B	$4.6B	$4.3B	$3.5B	$2.9B	$2.4B	$2.5B	$2.4B	$2.1B	$1.7B	$1.3B	$1.1B	$930M	$832M	$717M	$745M	$739M	$701M
Gross Profit	$1.3B	$1.2B	$1.2B	$934M	$849M	$903M	$675M	$593M	$584M	$600M	$549M	$503M	$452M	$386M	$288M	$254M	$221M	$192M	$202M	$177M	$153M
Gross Margin %	24.4%	23.0%	21.9%	19.0%	18.3%	21.2%	19.5%	20.5%	24.4%	24.5%	22.8%	24.0%	26.6%	29.0%	27.4%	27.3%	26.6%	26.8%	27.1%	24.0%	21.9%
Operating Income (EBIT)	$571M	$577M	$492M	$295M	$312M	$419M	$291M	$320M	$300M	$315M	$283M	$265M	$226M	$188M	$131M	$122M	$102M	$86M	$86M	$42M	$24M
Operating Margin %	10.9%	10.6%	9.3%	6.0%	6.7%	9.9%	8.4%	11.1%	12.5%	12.9%	11.8%	12.6%	13.3%	14.1%	12.4%	13.1%	12.3%	11.9%	11.6%	5.6%	3.4%
Net Income	$371M	$319M	$307M	$162M	$204M	$291M	$215M	$241M	$221M	$209M	$178M	$158M	$145M	$117M	$76M	$81M	$70M	$47M	$7M	($8M)	$2M
Net Margin %	7.1%	5.9%	5.8%	3.3%	4.4%	6.8%	6.2%	8.3%	9.2%	8.5%	7.4%	7.5%	8.6%	8.8%	7.2%	8.7%	8.5%	6.5%	0.9%	-1.1%	0.4%
EBITDA	$731M	$675M	$624M	$456M	$465M	$503M	$396M	$406M	$362M	$384M	$362M	$317M	$276M	$225M	$158M	$149M	$127M	$102M	$59M	$24M	$39M
Earnings Per Share (EPS)	$6.76	$5.51	$4.99	$2.63	$3.29	$4.67	$3.39	$3.72	$3.35	$3.17	$2.69	$2.35	$2.11	$1.67	$1.09	$1.14	$0.98	$0.65	$0.09	$-0.09	$0.03
Shares Outstanding (M)	53M	58M	61M	61M	62M	62M	63M	65M	66M	66M	66M	67M	69M	70M	70M	71M	72M	72M	77M	87M	87M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MMS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$1.3B	$1.3B	$1.3B	$1.3B	$1.3B	$1.4B	$1.4B	$1.3B
Gross Profit	$349M	$322M	$298M	$311M	$337M	$316M	$279M	$279M
Gross Margin %	27.3%	24.6%	22.2%	23.5%	25.0%	23.2%	19.9%	21.2%
Operating Income (EBIT)	$161M	$148M	$137M	$124M	$166M	$153M	$125M	$113M
Operating Margin %	12.6%	11.4%	10.2%	9.4%	12.3%	11.2%	8.9%	8.6%
Net Income	$104M	$98M	$94M	$75M	$106M	$97M	$41M	$73M
Net Margin %	8.1%	7.5%	7.0%	5.7%	7.9%	7.1%	2.9%	5.5%
EBITDA	$209M	$183M	$179M	$160M	$198M	$186M	$118M	$146M
Earnings Per Share (EPS)	$1.95	$1.79	$1.70	$1.32	$1.86	$1.69	$0.69	$1.18
Shares Outstanding (M)	53M	55M	55M	57M	57M	57M	60M	61M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MMS Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30
Cash from Operations (CFO)	$470M	$429M	$515M	$314M	$290M	$517M	$245M	$357M	$324M	$337M	$180M	$206M	$214M	$121M	$115M	$97M	$138M	$31M	$57M	$51M	$16M
Capital Expenditures (CapEx)	$36M	$63M	$114M	$91M	$56M	$37M	$41M	$67M	$27M	$24M	$46M	$105M	$47M	$62M	$23M	$26M	$23M	$27M	$15M	$18M	$26M
Free Cash Flow (FCF)	$433M	$366M	$401M	$224M	$234M	$481M	$204M	$290M	$297M	$313M	$134M	$101M	$166M	$59M	$92M	$71M	$116M	$4M	$41M	$33M	($10M)
FCF Margin %	8.2%	6.7%	7.6%	4.6%	5.1%	11.3%	5.9%	10.0%	12.4%	12.8%	5.6%	4.8%	9.8%	4.4%	8.8%	7.6%	13.9%	0.6%	5.5%	4.5%	-1.5%
Dividends Paid	$68M	$69M	$73M	$68M	$69M	$69M	$70M	$64M	$12M	$12M	$12M	$12M	$12M	$12M	$12M	$10M	$8M	$8M	$8M	$9M	$9M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MMS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	($125M)	$190M	($244M)	$649M	($183M)	$43M	($80M)	$164M
Capital Expenditures (CapEx)	$12M	$11M	$6M	$8M	$15M	$17M	$23M	$32M
Free Cash Flow (FCF)	($137M)	$179M	($251M)	$642M	($198M)	$26M	($103M)	$132M
FCF Margin %	-10.7%	13.7%	-18.6%	48.7%	-14.7%	1.9%	-7.3%	10.0%
Dividends Paid	$17M	$18M	$16M	$17M	$17M	$17M	$18M	$18M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MMS Balance Sheet History

Balance sheet	2026-06-30	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30
Total Assets	$4.4B	$4.1B	$4.1B	$4.0B	$4.0B	$4.1B	$2.0B	$1.7B	$1.5B	$1.4B	$1.3B	$1.3B	$901M	$858M	$695M	$565M	$528M	$433M	$459M	$564M	$559M
Cash & Cash Equivalents	$57M	$260M	$236M	$122M	$137M	$157M	$89M	$116M	$349M	$180M	$80M	$88M	$169M	$138M	$201M	$5M	$160M	$92M	$121M	$71M	$41M
Total Liabilities	$2.6B	$2.4B	$2.3B	$2.3B	$2.4B	$2.6B	$783M	$498M	$376M	$405M	$596M	$664M	$345M	$328M	$244M	$191M	$189M	$136M	$183M	$155M	$154M
Total Debt (Short + Long-Term)	$1.7B	$1.4B	$1.2B	$1.3B	$1.4B	$1.6B	$110M	$10M	$100M	$1M	$166M	$211M	$1M	$1M	$2M	$2M	$57M	$47M	$0M	$2M	$4M
Total Shareholders' Equity	$1.7B	$1.7B	$1.8B	$1.7B	$1.5B	$1.5B	$1.2B	$1.2B	$1.1B	$940M	$749M	$615M	$556M	$530M	$451M	$374M	$339M	$297M	$276M	$409M	$405M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MMS viewer.

Other Companies in SPECIALTY BUSINESS SERVICES

UNF · Unifirst Corporation — $5 billion
AZZ · AZZ Incorporated — $4 billion
FA · First Advantage Corp — $4 billion
CBZ · CBIZ Inc — $3 billion
ABM · ABM Industries Incorporated — $3 billion
TH · Target Hospitality Corp — $2 billion
TIC · Acuren Corporation — $2 billion
CMPR · Cimpress NV — $2 billion

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