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Companies / Industrials / Maximus, Inc.
MMS

Maximus, Inc.

IndustrialsBusiness Services
Ticker MMSMCLEAN, VAFiscal year ends SeptemberBook value per share $32.09Diluted shares 54.2M

Maximus, Inc. (NYSE: MMS) provides technology-enabled services to government agencies, helping administer public programs and modernize service delivery for citizens in the United States and internationally. Its services include health insurance eligibility and enrollment, clinical assessments and appeals, employment… From the company’s description.

Over the twelve months to Jun 30, 2026, Maximus, Inc. reported revenue of $5.25B, down 3.3% from a year earlier, and net income of $370.89M. Its operating margin was 11.0%, and operations generated $469.51M in cash. In fiscal 2025, it reported revenue of $5.43B, up 2.4% from fiscal 2024, and net income of $319.03M.

Fiscal year 2025 · ends 09-30Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$5.43BFY2025
+2.4% year over year
Last 12 mo $5.25B
9.73%FY2025
+0.5 percentage points
Last 12 mo 11.03%
$319.03MFY2025
+3.9% year over year
Last 12 mo $370.89M
19.06%FY2025
+2.4 percentage points
Last 12 mo 21.31%
Cash & financing
$429.37MFY2025
−16.7% year over year
Last 12 mo $469.51M
$366.16MFY2025
−8.7% year over year
Last 12 mo $433.23M
0.80FY2025
Was 0.61× a year earlier
Last 12 mo 0.94
57.9MFY2025
−5.8% year over year
Last 12 mo 54.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Maximus, Inc. does

In the company’s own words

Maximus, Inc. (NYSE: MMS) provides technology-enabled services to government agencies, helping administer public programs and modernize service delivery for citizens in the United States and internationally. Its services include health insurance eligibility and enrollment, clinical assessments and appeals, employment programs, customer contact centers, and technology development, modernization, analytics, cloud, and cybersecurity. The company serves primarily federal, state, and local government customers, as well as government agencies in the United Kingdom, Canada, and the Middle East. Maximus operates through three segments: U.S. Federal Services, which generated 56% of fiscal 2025 revenue; U.S. Services, which generated 32%; and Outside the U.S., which generated 11%. Federal work includes Medicare support, student loan servicing, veterans’ medical disability examinations, and agency technology solutions. U.S. Services supports programs such as Medicaid, CHIP, and state health insurance exchanges, alongside clinical, employment, and technology services. International services include health and disability assessments, employment programs, and digital customer services. Founded in 1975, Maximus had approximately 37,200 employees as of September 30, 2025. Its website is maximus.com.

Company details
Sector
Industrials
Industry (SIC)
Business Services
Headquarters
MCLEAN, VA
Fiscal year end
September
CIK
1032220
SIC
7389

Financial performance, year by year

Fiscal 2012–2025 · USD
$-543.13M$1.09B$2.72B$4.35B$5.97B20122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Maximus, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

403
funds hold it
0 of 35
superinvestors hold it
$1.63B
held by funds, at market
53.1%
of shares held by funds

Largest fund holders · Maximus, Inc.’s weight in each

Undiscovered Managers Behavioral Value Fund
UBVLX · UNDISCOVERED MANAGERS FUNDS
1.31%of fund net assets
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.08%of fund net assets
Fidelity Low-Priced Stock Fund
FLPSX · Fidelity Puritan Trust
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.09%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Maximus, Inc. and its peers compare on margins and cash generation over ten years?”
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