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Maximus (MMS) Financials

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$67.47 -0.25 (-0.37%)
Closing price 04/28/2025 03:59 PM Eastern
Extended Trading
$67.52 +0.05 (+0.07%)
As of 04/28/2025 07:30 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Maximus

Annual Income Statements for Maximus

This table shows Maximus' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders
158 178 209 221 241 215 291 204 162 307
Consolidated Net Income / (Loss)
160 180 212 221 240 215 291 204 162 307
Net Income / (Loss) Continuing Operations
160 180 212 221 240 215 291 204 162 307
Total Pre-Tax Income
260 286 314 299 317 287 384 277 210 407
Total Operating Income
260 287 314 295 317 288 409 326 295 488
Total Gross Profit
513 562 612 594 671 711 947 940 1,029 1,252
Total Revenue
2,100 2,403 2,451 2,392 2,887 3,462 4,254 4,631 4,905 5,306
Operating Revenue
2,100 2,403 2,451 2,392 2,887 3,462 4,254 4,631 4,905 5,306
Total Cost of Revenue
1,587 1,841 1,839 1,798 2,216 2,751 3,308 3,691 3,876 4,055
Operating Cost of Revenue
1,587 1,841 1,839 1,798 2,216 2,751 3,308 3,691 3,876 4,055
Total Operating Expenses
253 276 298 299 354 423 538 614 734 763
Selling, General & Admin Expense
239 269 285 285 321 387 494 534 639 672
Amortization Expense
9.35 13 12 10 33 36 44 90 95 92
Other Special Charges / (Income)
0.00 - - - - 0.00 0.00 -11 0.00 0.00
Total Other Income / (Expense), net
-0.01 -0.64 0.72 3.73 0.21 -1.22 -25 -49 -85 -82
Interest Expense
1.40 4.13 2.16 1.00 2.96 2.06 15 46 84 82
Other Income / (Expense), net
1.39 3.50 2.89 4.73 3.17 0.84 -10 -2.84 -0.36 0.45
Income Tax Expense
100 106 102 78 77 73 92 73 49 100
Basic Earnings per Share
$2.37 $2.71 $3.19 $3.37 $3.73 $3.40 $4.69 $3.30 $2.65 $5.03
Weighted Average Basic Shares Outstanding
66.68M 65.82M 65.63M 65.50M 64.50M 63.06M 62.07M 61.77M 61.13M 61.05M
Diluted Earnings per Share
$2.35 $2.69 $3.17 $3.35 $3.72 $3.39 $4.67 $3.29 $2.63 $4.99
Weighted Average Diluted Shares Outstanding
67.28M 66.23M 66.07M 65.93M 64.82M 63.32M 62.37M 61.97M 61.45M 61.48M
Weighted Average Basic & Diluted Shares Outstanding
66.60M 65.80M 65.70M 65.50M 63.98M 122.91M 61.95M 60.77M 61.00M 60.30M
Cash Dividends to Common per Share
$0.18 $0.18 $0.18 $0.18 $1.00 $1.12 $1.12 $1.12 $1.12 $1.20

Quarterly Income Statements for Maximus

This table shows Maximus' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Net Income / (Loss) Attributable to Common Shareholders
31 69 40 32 31 59 64 81 90 73 41
Consolidated Net Income / (Loss)
31 69 40 32 31 59 64 81 90 73 41
Net Income / (Loss) Continuing Operations
31 69 40 32 31 59 64 81 90 73 41
Total Pre-Tax Income
41 98 53 42 36 78 86 108 120 93 69
Total Operating Income
55 115 75 63 58 99 108 127 142 112 87
Total Gross Profit
210 273 245 229 264 291 300 318 332 302 302
Total Revenue
1,126 1,177 1,249 1,207 1,189 1,260 1,327 1,348 1,315 1,316 1,403
Operating Revenue
1,126 1,177 1,249 1,207 1,189 1,260 1,327 1,348 1,315 1,316 1,403
Total Cost of Revenue
916 904 1,004 978 924 969 1,027 1,031 983 1,014 1,101
Operating Cost of Revenue
916 904 1,004 978 924 969 1,027 1,031 983 1,014 1,101
Total Operating Expenses
156 158 170 166 206 192 193 190 191 190 215
Selling, General & Admin Expense
133 147 146 142 183 168 169 168 167 167 192
Amortization Expense
23 23 24 24 23 24 23 22 24 23 23
Total Other Income / (Expense), net
-13 -17 -21 -20 -22 -21 -22 -20 -21 -19 -18
Interest Expense
11 16 22 21 21 21 22 20 21 20 18
Other Income / (Expense), net
-2.50 -0.74 0.27 0.82 -1.01 -0.44 -0.49 0.82 -0.81 0.93 -0.31
Income Tax Expense
9.93 29 13 11 5.49 19 21 27 31 20 28
Basic Earnings per Share
$0.51 $1.12 $0.65 $0.52 $0.50 $0.98 $1.05 $1.31 $1.47 $1.20 $0.69
Weighted Average Basic Shares Outstanding
61.61M 61.77M 61.12M 61.12M 61.14M 61.13M 61.32M 61.37M 61.08M 61.05M 59.73M
Diluted Earnings per Share
$0.51 $1.13 $0.65 $0.52 $0.50 $0.96 $1.04 $1.31 $1.46 $1.18 $0.69
Weighted Average Diluted Shares Outstanding
61.76M 61.97M 61.20M 61.38M 61.54M 61.45M 61.54M 61.62M 61.38M 61.48M 60.00M
Weighted Average Basic & Diluted Shares Outstanding
60.55M 60.77M 60.77M 60.78M 60.78M 61.00M 61.03M 60.80M 60.18M 60.30M 56.60M
Cash Dividends to Common per Share
$0.28 $0.28 $0.28 $0.28 $0.28 $0.28 $0.30 $0.30 $0.30 $0.30 $0.30

Annual Cash Flow Statements for Maximus

This table details how cash moves in and out of Maximus' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents
-83 -8.47 99 177 -240 -28 68 -20 -15 114
Net Cash From Operating Activities
206 180 336 317 357 245 517 290 314 515
Net Cash From Continuing Operating Activities
206 180 336 317 357 245 517 290 314 515
Net Income / (Loss) Continuing Operations
160 180 212 221 240 215 291 204 162 307
Consolidated Net Income / (Loss)
160 180 212 221 240 215 291 204 162 307
Depreciation Expense
47 58 56 52 52 65 46 42 55 34
Amortization Expense
9.35 13 12 10 33 36 54 93 97 95
Non-Cash Adjustments To Reconcile Net Income
17 12 21 25 33 22 29 19 30 36
Changes in Operating Assets and Liabilities, net
-27 -84 36 8.61 -2.66 -92 97 -69 -30 43
Net Cash From Investing Activities
-394 -87 -25 -45 -484 -44 -1,835 -54 -81 -129
Net Cash From Continuing Investing Activities
-394 -87 -25 -45 -484 -44 -1,835 -54 -81 -129
Purchase of Property, Plant & Equipment
-105 -46 -24 -27 -67 -41 -37 -56 -91 -132
Acquisitions
-289 -47 -2.68 -0.16 -437 -7.07 -1,799 -14 0.00 0.00
Sale of Property, Plant & Equipment
- - - - - 0.00 0.00 16 0.00 0.00
Divestitures
0.00 5.52 1.04 0.00 0.00 3.25 0.00 0.00 9.73 3.09
Net Cash From Financing Activities
111 -97 -215 -92 -111 -230 1,386 -248 -251 -276
Net Cash From Continuing Financing Activities
111 -97 -215 -92 -111 -230 1,386 -248 -251 -276
Repayment of Debt
-123 -196 -352 -141 -405 -620 -850 -771 -953 -1,222
Repurchase of Common Equity
-83 -33 -29 -67 -47 -167 -3.36 -96 0.00 -73
Payment of Dividends
-12 -12 -12 -12 -64 -70 -69 -69 -68 -73
Issuance of Debt
331 150 185 137 415 638 2,318 615 844 1,100
Other Financing Activities, net
-2.11 -5.90 -8.25 -8.53 -8.92 -11 -9.82 72 -74 -7.92
Effect of Exchange Rate Changes
-6.90 -4.55 3.66 -2.83 -2.05 1.71 0.47 -7.33 2.72 3.16

Quarterly Cash Flow Statements for Maximus

This table details how cash moves in and out of Maximus' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Net Change in Cash & Equivalents
-1.34 26 23 -41 -27 30 31 -35 29 88 -113
Net Cash From Operating Activities
58 120 -135 310 -5.29 145 22 130 199 164 -80
Net Cash From Continuing Operating Activities
58 120 -135 310 -5.29 145 22 130 199 164 -80
Net Income / (Loss) Continuing Operations
31 69 40 32 31 59 64 81 90 73 41
Consolidated Net Income / (Loss)
31 69 40 32 31 59 64 81 90 73 41
Depreciation Expense
8.68 12 12 14 11 18 8.41 8.21 7.53 9.81 8.46
Amortization Expense
23 24 25 24 24 25 24 22 25 24 24
Non-Cash Adjustments To Reconcile Net Income
-1.48 5.86 4.40 10 8.30 7.28 10 8.70 9.48 7.74 45
Changes in Operating Assets and Liabilities, net
-3.95 9.10 -216 229 -79 36 -85 11 67 50 -199
Net Cash From Investing Activities
-25 -5.93 -16 -8.93 -25 -31 -20 -42 -35 -32 -22
Net Cash From Continuing Investing Activities
-25 -5.93 -16 -8.93 -25 -31 -20 -42 -35 -32 -22
Purchase of Property, Plant & Equipment
-13 -20 -16 -18 -25 -32 -22 -43 -35 -32 -23
Divestitures
- - 0.00 9.12 - 0.61 1.82 1.26 - 0.01 0.74
Net Cash From Financing Activities
-29 -85 171 -343 2.82 -82 28 -123 -135 -46 -8.26
Net Cash From Continuing Financing Activities
-29 -85 171 -343 2.82 -82 28 -123 -135 -46 -8.26
Repayment of Debt
-139 -328 -61 -469 -200 -222 -167 -298 -498 -259 -179
Repurchase of Common Equity
-48 -22 - - - - 0.00 - - -26 -229
Payment of Dividends
-17 -17 -17 -17 -17 -17 -18 -18 -18 -18 -18
Issuance of Debt
175 200 269 194 220 162 228 195 427 250 435
Other Financing Activities, net
- 82 -19 -50 -0.10 -4.37 -15 -1.43 1.19 7.40 -17
Effect of Exchange Rate Changes
-4.69 -2.97 2.42 0.77 0.55 -1.02 1.85 -0.73 0.16 1.89 -2.38

Annual Balance Sheets for Maximus

This table presents Maximus' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets
1,272 1,349 1,351 1,462 1,746 2,025 4,119 3,993 3,986 4,132
Total Current Assets
562 621 657 809 789 933 1,079 1,032 1,055 1,201
Cash & Equivalents
75 66 166 349 106 72 135 41 65 183
Accounts Receivable
427 481 431 389 601 786 835 807 827 880
Prepaid Expenses
53 57 56 44 62 73 104 182 147 133
Current Deferred & Refundable Income Taxes
7.31 17 4.53 5.98 21 2.08 5.41 2.16 17 5.28
Plant, Property, & Equipment, net
138 132 102 78 100 67 63 52 39 39
Total Noncurrent Assets
572 596 592 576 857 1,025 2,977 2,908 2,892 2,892
Long-Term Investments
- - - - - 37 47 37 43 56
Goodwill
376 398 403 400 584 593 1,774 1,779 1,779 1,783
Intangible Assets
135 139 126 110 212 184 922 864 811 818
Noncurrent Deferred & Refundable Income Taxes
11 8.64 7.69 6.83 0.19 1.92 0.99 4.97 2.46 15
Other Noncurrent Operating Assets
50 51 56 59 60 210 233 223 255 220
Total Liabilities & Shareholders' Equity
1,272 1,349 1,351 1,462 1,746 2,025 4,119 3,993 3,986 4,132
Total Liabilities
656 596 405 376 498 783 2,639 2,443 2,318 2,289
Total Current Liabilities
356 341 316 277 364 561 789 774 723 808
Short-Term Debt
0.36 0.28 - 0.14 9.66 11 81 63 87 40
Accounts Payable
155 151 122 114 178 253 306 265 282 303
Current Deferred Revenue
78 74 72 51 43 52 99 87 60 83
Current Deferred & Payable Income Tax Liabilities
12 7.98 4.70 4.44 14 5.38 6.78 0.72 0.45 27
Current Employee Benefit Liabilities
100 96 106 96 107 137 187 178 194 237
Other Current Liabilities
12 12 12 12 13 103 111 180 99 117
Total Noncurrent Liabilities
299 255 89 98 133 222 1,849 1,669 1,595 1,481
Long-Term Debt
211 165 - - 0.23 18 1,429 1,292 1,163 1,092
Noncurrent Deferred Revenue
53 40 28 20 32 27 36 21 39 45
Noncurrent Deferred & Payable Income Tax Liabilities
6.55 17 20 26 47 25 195 206 204 169
Noncurrent Employee Benefit Liabilities
21 24 31 33 34 39 47 40 46 58
Other Noncurrent Operating Liabilities
8.73 8.75 9.63 18 20 113 20 109 143 117
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
616 753 946 1,086 1,248 1,242 1,480 1,549 1,668 1,843
Total Preferred & Common Equity
612 749 940 1,084 1,248 1,242 1,480 1,549 1,668 1,843
Total Common Equity
612 749 940 1,084 1,248 1,242 1,480 1,549 1,668 1,843
Common Stock
446 462 476 488 498 514 532 558 578 598
Retained Earnings
189 324 492 633 795 770 988 1,025 1,118 1,277
Accumulated Other Comprehensive Income / (Loss)
-22 -36 -28 -37 -45 -43 -40 -34 -28 -32

Quarterly Balance Sheets for Maximus

This table presents Maximus' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Total Assets
4,058 4,235 3,899 3,943 4,017 4,041 4,000 4,059
Total Current Assets
1,072 1,256 952 996 1,110 1,118 1,078 1,165
Cash & Equivalents
94 63 56 35 104 77 103 73
Accounts Receivable
868 1,014 742 799 860 916 850 963
Prepaid Expenses
94 175 141 128 129 111 116 129
Current Deferred & Refundable Income Taxes
16 4.49 12 34 16 14 9.46 1.38
Plant, Property, & Equipment, net
56 50 47 45 35 35 35 38
Total Noncurrent Assets
2,930 2,929 2,900 2,902 2,872 2,887 2,886 2,855
Long-Term Investments
- - - - 47 52 53 56
Goodwill
1,784 1,783 1,780 1,781 1,781 1,780 1,780 1,780
Intangible Assets
878 848 823 816 806 819 823 807
Noncurrent Deferred & Refundable Income Taxes
4.78 5.04 5.87 5.77 2.20 2.13 5.91 12
Other Noncurrent Operating Assets
264 293 291 300 236 234 225 201
Total Liabilities & Shareholders' Equity
4,058 4,235 3,899 3,943 4,017 4,041 4,000 4,059
Total Liabilities
2,536 2,654 2,297 2,310 2,299 2,252 2,181 2,412
Total Current Liabilities
730 746 681 683 658 729 680 679
Short-Term Debt
60 77 84 87 90 89 40 35
Accounts Payable
259 272 259 284 268 276 281 286
Current Deferred Revenue
107 96 67 65 63 77 82 78
Current Deferred & Payable Income Tax Liabilities
4.07 12 4.48 0.07 24 16 11 37
Current Employee Benefit Liabilities
182 119 157 140 116 173 162 120
Other Current Liabilities
118 169 109 108 98 99 104 123
Total Noncurrent Liabilities
1,806 1,908 1,616 1,627 1,641 1,523 1,501 1,733
Long-Term Debt
1,423 1,487 1,205 1,223 1,222 1,121 1,101 1,353
Noncurrent Deferred Revenue
24 30 26 15 37 33 35 40
Noncurrent Deferred & Payable Income Tax Liabilities
197 204 201 207 198 193 201 173
Noncurrent Employee Benefit Liabilities
39 45 44 47 52 54 56 59
Other Noncurrent Operating Liabilities
31 143 140 135 131 122 108 108
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
1,522 1,581 1,602 1,633 1,718 1,789 1,819 1,647
Total Preferred & Common Equity
1,522 1,581 1,602 1,633 1,718 1,789 1,819 1,647
Total Common Equity
1,522 1,581 1,602 1,633 1,718 1,789 1,819 1,647
Common Stock
558 563 573 581 585 594 604 603
Retained Earnings
996 1,048 1,062 1,076 1,163 1,225 1,245 1,063
Accumulated Other Comprehensive Income / (Loss)
-32 -30 -33 -24 -31 -30 -31 -20

Annual Metrics and Ratios for Maximus

This table displays calculated financial ratios and metrics derived from Maximus' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
23.45% 14.46% 1.98% -2.40% 20.67% 19.91% 22.91% 8.85% 5.91% 8.19%
EBITDA Growth
14.99% 14.01% 6.22% -5.72% 11.96% -4.06% 28.06% -7.95% -2.68% 38.39%
EBIT Growth
14.89% 11.06% 9.06% -5.12% 6.68% -9.73% 37.81% -18.92% -8.86% 66.07%
NOPAT Growth
11.09% 12.81% 17.24% 3.01% 10.21% -10.37% 43.93% -22.68% -5.39% 62.61%
Net Income Growth
10.08% 12.57% 17.77% 4.07% 8.91% -10.81% 35.75% -30.00% -20.62% 89.70%
EPS Growth
11.37% 14.47% 17.84% 5.68% 11.04% -8.87% 37.76% -29.55% -20.06% 89.73%
Operating Cash Flow Growth
-3.46% -12.70% 86.88% -5.84% 12.61% -31.43% 111.50% -43.97% 8.45% 63.92%
Free Cash Flow Firm Growth
-229.34% 141.53% 255.89% -1.47% -169.56% 205.45% -808.40% 123.47% -28.41% 80.66%
Invested Capital Growth
88.33% 13.37% -8.57% -8.01% 60.73% 0.84% 152.12% -3.49% -0.64% -2.62%
Revenue Q/Q Growth
7.32% 1.88% -0.09% -2.54% 7.30% 5.13% 4.48% 1.55% 1.72% 1.07%
EBITDA Q/Q Growth
3.63% 8.98% -2.65% -4.33% 7.24% 1.60% -0.06% 9.41% -1.96% 0.86%
EBIT Q/Q Growth
4.44% 7.25% -0.91% -4.99% 4.91% 2.50% -4.11% 16.66% -4.88% 2.95%
NOPAT Q/Q Growth
0.65% 9.04% 1.32% -3.99% 6.58% 1.72% -0.97% 8.53% -2.15% 3.50%
Net Income Q/Q Growth
0.16% 8.93% 1.81% -4.10% 6.43% 1.72% -3.85% 9.13% -5.78% 4.55%
EPS Q/Q Growth
-2.49% 8.47% 1.28% -2.62% 6.29% 2.42% -3.51% 9.67% -6.07% 4.61%
Operating Cash Flow Q/Q Growth
-10.12% 34.98% 3.84% 16.19% -9.04% 29.35% 30.91% -34.19% 8.46% 3.88%
Free Cash Flow Firm Q/Q Growth
-11.48% 219.50% 4.14% 26.37% -68.69% 61.06% 10.27% -11.48% -25.27% -3.93%
Invested Capital Q/Q Growth
3.67% -1.54% -2.73% -11.10% 0.42% -5.65% -7.55% -5.87% -3.38% -2.42%
Profitability Metrics
- - - - - - - - - -
Gross Margin
24.42% 23.39% 24.97% 24.85% 23.25% 20.54% 22.26% 20.29% 20.97% 23.59%
EBITDA Margin
15.12% 15.06% 15.68% 15.15% 14.05% 11.25% 11.72% 9.91% 9.11% 11.65%
Operating Margin
12.37% 11.93% 12.79% 12.35% 10.98% 8.33% 9.60% 7.04% 6.01% 9.21%
EBIT Margin
12.44% 12.07% 12.91% 12.55% 11.09% 8.35% 9.36% 6.98% 6.00% 9.21%
Profit (Net Income) Margin
7.62% 7.50% 8.66% 9.23% 8.33% 6.20% 6.84% 4.40% 3.30% 5.78%
Tax Burden Percent
61.60% 63.00% 67.52% 73.80% 75.79% 74.73% 75.90% 73.56% 76.94% 75.50%
Interest Burden Percent
99.46% 98.58% 99.32% 99.67% 99.08% 99.29% 96.30% 85.77% 71.42% 83.14%
Effective Tax Rate
38.40% 37.00% 32.48% 26.20% 24.21% 25.27% 24.10% 26.44% 23.06% 24.50%
Return on Invested Capital (ROIC)
27.80% 22.51% 25.94% 29.14% 25.71% 18.61% 15.15% 8.33% 8.05% 13.30%
ROIC Less NNEP Spread (ROIC-NNEP)
27.88% 22.17% 24.48% 28.12% 25.64% 19.65% 12.40% 5.70% 2.67% 7.22%
Return on Net Nonoperating Assets (RNNOA)
-0.49% 3.82% -0.96% -7.41% -5.11% -1.38% 6.24% 5.13% 2.01% 4.18%
Return on Equity (ROE)
27.31% 26.32% 24.98% 21.73% 20.60% 17.23% 21.39% 13.46% 10.06% 17.48%
Cash Return on Invested Capital (CROIC)
-33.47% 9.97% 34.89% 37.49% -20.88% 17.78% -71.25% 11.88% 8.69% 15.96%
Operating Return on Assets (OROA)
24.05% 22.14% 23.44% 21.35% 19.97% 15.34% 12.97% 7.97% 7.38% 12.05%
Return on Assets (ROA)
14.73% 13.75% 15.72% 15.70% 14.99% 11.38% 9.48% 5.03% 4.06% 7.56%
Return on Common Equity (ROCE)
27.23% 26.18% 24.84% 21.64% 20.58% 17.23% 21.39% 13.46% 10.06% 17.48%
Return on Equity Simple (ROE_SIMPLE)
26.14% 24.05% 22.57% 20.37% 19.27% 17.27% 19.67% 13.16% 9.70% 16.65%
Net Operating Profit after Tax (NOPAT)
160 181 212 218 240 215 310 240 227 369
NOPAT Margin
7.62% 7.51% 8.64% 9.12% 8.33% 6.22% 7.29% 5.18% 4.62% 6.95%
Net Nonoperating Expense Percent (NNEP)
-0.08% 0.34% 1.46% 1.03% 0.07% -1.04% 2.75% 2.63% 5.37% 6.08%
Cost of Revenue to Revenue
75.58% 76.61% 75.03% 75.15% 76.75% 79.46% 77.74% 79.71% 79.03% 76.41%
SG&A Expenses to Revenue
11.37% 11.20% 11.61% 11.92% 11.12% 11.18% 11.61% 11.54% 13.03% 12.66%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
12.04% 11.47% 12.17% 12.49% 12.27% 12.21% 12.66% 13.26% 14.96% 14.38%
Earnings before Interest and Taxes (EBIT)
261 290 316 300 320 289 398 323 294 489
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
317 362 384 362 406 389 499 459 447 618
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
5.82 4.46 4.06 3.53 3.67 3.18 3.30 2.19 2.67 3.03
Price to Tangible Book Value (P/TBV)
35.18 15.72 9.28 6.67 10.13 8.51 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
1.70 1.39 1.56 1.60 1.59 1.14 1.15 0.73 0.91 1.05
Price to Earnings (P/E)
22.58 18.72 18.23 17.33 19.00 18.43 16.79 16.63 27.55 18.20
Dividend Yield
0.33% 0.35% 0.31% 0.30% 1.39% 1.74% 1.41% 2.00% 1.53% 1.29%
Earnings Yield
4.43% 5.34% 5.48% 5.77% 5.26% 5.42% 5.96% 6.01% 3.63% 5.50%
Enterprise Value to Invested Capital (EV/IC)
4.92 4.04 4.69 4.82 3.89 3.33 2.16 1.65 1.99 2.37
Enterprise Value to Revenue (EV/Rev)
1.76 1.43 1.49 1.45 1.55 1.12 1.49 1.01 1.14 1.22
Enterprise Value to EBITDA (EV/EBITDA)
11.66 9.51 9.52 9.54 11.04 9.95 12.71 10.17 12.54 10.48
Enterprise Value to EBIT (EV/EBIT)
14.17 11.87 11.56 11.52 13.99 13.40 15.91 14.45 19.02 13.25
Enterprise Value to NOPAT (EV/NOPAT)
23.13 19.06 17.28 15.86 18.64 17.99 20.44 19.47 24.68 17.57
Enterprise Value to Operating Cash Flow (EV/OCF)
17.95 19.12 10.87 10.92 12.56 15.84 12.25 16.11 17.81 12.57
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 43.03 12.85 12.33 0.00 18.83 0.00 13.64 22.86 14.64
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.34 0.22 0.00 0.00 0.01 0.02 1.10 0.88 0.75 0.61
Long-Term Debt to Equity
0.34 0.22 0.00 0.00 0.00 0.01 1.05 0.83 0.70 0.59
Financial Leverage
-0.02 0.17 -0.04 -0.26 -0.20 -0.07 0.50 0.90 0.75 0.58
Leverage Ratio
1.85 1.91 1.59 1.38 1.37 1.51 2.26 2.68 2.48 2.31
Compound Leverage Factor
1.84 1.89 1.58 1.38 1.36 1.50 2.17 2.30 1.77 1.92
Debt to Total Capital
25.52% 18.03% 0.00% 0.01% 0.79% 2.27% 52.43% 46.67% 42.84% 38.05%
Short-Term Debt to Total Capital
0.04% 0.03% 0.00% 0.01% 0.77% 0.86% 2.59% 2.18% 2.98% 1.35%
Long-Term Debt to Total Capital
25.48% 18.00% 0.00% 0.00% 0.02% 1.42% 49.84% 44.49% 39.86% 36.71%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.40% 0.44% 0.60% 0.23% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
74.08% 81.53% 99.40% 99.75% 99.18% 97.73% 47.57% 53.33% 57.16% 61.95%
Debt to EBITDA
0.66 0.46 0.00 0.00 0.02 0.07 3.27 2.96 2.80 1.83
Net Debt to EBITDA
0.43 0.27 0.00 -1.02 -0.24 -0.20 2.91 2.79 2.56 1.45
Long-Term Debt to EBITDA
0.66 0.46 0.00 0.00 0.00 0.05 3.11 2.82 2.60 1.77
Debt to NOPAT
1.32 0.92 0.00 0.00 0.04 0.13 5.26 5.66 5.51 3.07
Net Debt to NOPAT
0.85 0.55 0.00 -1.69 -0.40 -0.37 4.68 5.33 5.03 2.42
Long-Term Debt to NOPAT
1.32 0.92 0.00 0.00 0.00 0.08 5.00 5.39 5.13 2.96
Altman Z-Score
5.99 6.44 9.06 9.47 8.71 5.96 2.88 2.70 3.12 3.69
Noncontrolling Interest Sharing Ratio
0.30% 0.54% 0.57% 0.41% 0.13% 0.02% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.58 1.82 2.08 2.91 2.17 1.66 1.37 1.33 1.46 1.49
Quick Ratio
1.41 1.61 1.89 2.73 1.94 1.53 1.23 1.09 1.23 1.32
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-193 80 285 281 -195 206 -1,458 342 245 442
Operating Cash Flow to CapEx
196.12% 388.06% 1,392.83% 1,194.47% 533.66% 600.86% 1,414.80% 729.82% 346.59% 389.79%
Free Cash Flow to Firm to Interest Expense
-137.81 19.35 131.70 280.54 -65.99 99.94 -98.87 7.44 2.91 5.37
Operating Cash Flow to Interest Expense
147.51 43.55 155.61 316.77 120.64 118.79 35.09 6.31 3.74 6.25
Operating Cash Flow Less CapEx to Interest Expense
72.29 32.33 144.44 290.25 98.03 99.02 32.61 5.44 2.66 4.65
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
1.93 1.83 1.82 1.70 1.80 1.84 1.39 1.14 1.23 1.31
Accounts Receivable Turnover
5.86 5.29 5.38 5.84 5.83 4.99 5.25 5.64 6.00 6.22
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
19.26 17.84 21.02 26.70 32.59 41.63 65.78 80.62 107.69 136.39
Accounts Payable Turnover
12.28 12.03 13.48 15.21 15.17 12.76 11.84 12.95 14.18 13.85
Days Sales Outstanding (DSO)
62.29 68.94 67.88 62.55 62.57 73.11 69.54 64.71 60.80 58.69
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
29.74 30.34 27.07 24.00 24.07 28.61 30.84 28.19 25.74 26.35
Cash Conversion Cycle (CCC)
32.55 38.60 40.81 38.55 38.50 44.51 38.70 36.52 35.06 32.34
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
752 853 780 717 1,153 1,162 2,930 2,828 2,810 2,736
Invested Capital Turnover
3.65 3.00 3.00 3.20 3.09 2.99 2.08 1.61 1.74 1.91
Increase / (Decrease) in Invested Capital
353 101 -73 -62 435 9.63 1,768 -102 -18 -74
Enterprise Value (EV)
3,701 3,442 3,658 3,458 4,481 3,874 6,338 4,668 5,599 6,478
Market Capitalization
3,562 3,339 3,819 3,825 4,576 3,954 4,888 3,390 4,457 5,585
Book Value per Share
$9.29 $11.54 $14.49 $16.87 $19.55 $20.25 $24.08 $25.59 $27.44 $30.62
Tangible Book Value per Share
$1.54 $3.27 $6.34 $8.93 $7.08 $7.58 ($19.78) ($18.06) ($15.18) ($12.60)
Total Capital
827 919 946 1,087 1,258 1,271 3,112 2,905 2,918 2,975
Total Debt
211 166 0.00 0.14 9.89 29 1,631 1,356 1,250 1,132
Total Long-Term Debt
211 165 0.00 0.00 0.23 18 1,551 1,292 1,163 1,092
Net Debt
136 99 -166 -369 -96 -80 1,450 1,278 1,142 893
Capital Expenditures (CapEx)
105 46 24 27 67 41 37 40 91 132
Debt-free, Cash-free Net Working Capital (DFCFNWC)
131 214 175 162 329 311 236 281 354 250
Debt-free Net Working Capital (DFNWC)
206 281 341 531 435 382 371 321 419 433
Net Working Capital (NWC)
206 280 341 531 425 371 290 258 332 393
Net Nonoperating Expense (NNE)
0.01 0.40 -0.49 -2.75 -0.16 0.91 19 36 65 62
Net Nonoperating Obligations (NNO)
136 99 -166 -369 -96 -80 1,450 1,278 1,142 893
Total Depreciation and Amortization (D&A)
56 72 68 62 85 100 100 136 152 129
Debt-free, Cash-free Net Working Capital to Revenue
6.25% 8.92% 7.13% 6.76% 11.41% 8.97% 5.54% 6.06% 7.22% 4.71%
Debt-free Net Working Capital to Revenue
9.80% 11.67% 13.91% 22.21% 15.06% 11.04% 8.71% 6.94% 8.55% 8.16%
Net Working Capital to Revenue
9.79% 11.66% 13.91% 22.20% 14.73% 10.73% 6.82% 5.57% 6.78% 7.41%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$0.00 $2.71 $3.19 $3.37 $3.73 $0.00 $4.69 $3.30 $2.65 $5.03
Adjusted Weighted Average Basic Shares Outstanding
0.00 65.82M 65.63M 65.50M 64.50M 0.00 62.07M 61.77M 61.13M 61.05M
Adjusted Diluted Earnings per Share
$0.00 $2.69 $3.17 $3.35 $3.72 $0.00 $4.67 $3.29 $2.63 $4.99
Adjusted Weighted Average Diluted Shares Outstanding
0.00 66.23M 66.07M 65.93M 64.82M 0.00 62.37M 61.97M 61.45M 61.48M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 64.78M 65.14M 64.13M 63.98M 0.00 61.95M 60.77M 61.00M 60.30M
Normalized Net Operating Profit after Tax (NOPAT)
163 181 213 221 240 215 310 232 227 369
Normalized NOPAT Margin
7.76% 7.51% 8.70% 9.22% 8.33% 6.22% 7.29% 5.00% 4.62% 6.95%
Pre Tax Income Margin
12.37% 11.90% 12.82% 12.51% 10.99% 8.29% 9.02% 5.98% 4.29% 7.66%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
186.85 70.17 146.34 300.21 108.31 140.42 27.02 7.03 3.50 5.93
NOPAT to Interest Expense
114.49 43.68 97.92 218.07 81.28 104.62 21.03 5.22 2.70 4.47
EBIT Less CapEx to Interest Expense
111.64 58.95 135.17 273.69 85.71 120.65 24.54 6.16 2.42 4.33
NOPAT Less CapEx to Interest Expense
39.28 32.46 86.74 191.55 58.67 84.85 18.55 4.35 1.62 2.87
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
7.41% 6.49% 5.50% 5.29% 26.56% 32.70% 23.64% 33.71% 42.07% 23.75%
Augmented Payout Ratio
59.13% 25.00% 19.10% 35.60% 46.29% 110.54% 24.79% 80.87% 42.07% 47.56%

Quarterly Metrics and Ratios for Maximus

This table displays calculated financial ratios and metrics derived from Maximus' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-9.47% 6.41% 8.55% 2.51% 5.59% 7.05% 6.23% 11.73% 10.62% 4.44% 5.70%
EBITDA Growth
-45.50% 35.75% -3.25% -7.07% 9.65% -5.95% 24.59% 56.24% 88.42% 3.73% -14.91%
EBIT Growth
-60.35% 68.18% -7.60% -16.68% 10.22% -13.27% 42.61% 102.64% 145.60% 14.19% -19.20%
NOPAT Growth
-59.73% 30.07% -7.86% -17.15% 19.65% -7.38% 44.10% 102.55% 113.22% 16.59% -35.71%
Net Income Growth
-66.84% 32.79% -25.00% -36.55% -1.51% -14.36% 60.39% 153.27% 190.81% 22.58% -35.78%
EPS Growth
-66.23% 34.52% -23.53% -35.00% -1.96% -15.04% 60.00% 151.92% 192.00% 22.92% -33.65%
Operating Cash Flow Growth
275.30% -55.64% -4,513.19% 169.82% -109.13% 20.43% 116.05% -57.87% 3,870.87% 13.31% -470.21%
Free Cash Flow Firm Growth
111.28% 110.75% 101.82% 106.55% -29.71% -49.23% 744.36% -21.02% 44.24% 73.02% -91.51%
Invested Capital Growth
-5.22% -3.49% 0.73% -1.02% -3.19% -0.64% -6.60% 1.23% -3.58% -2.62% 0.96%
Revenue Q/Q Growth
-4.38% 4.55% 6.14% -3.39% -1.51% 6.00% 5.32% 1.61% -2.48% 0.07% 6.60%
EBITDA Q/Q Growth
-23.11% 78.19% -25.33% -9.17% -9.28% 52.85% -1.08% 13.90% 9.41% -15.85% -18.86%
EBIT Q/Q Growth
-31.50% 118.56% -34.05% -15.62% -9.38% 71.97% 8.45% 19.90% 9.83% -20.04% -23.26%
NOPAT Q/Q Growth
-26.89% 95.47% -30.88% -16.12% 5.58% 51.31% 7.54% 17.90% 11.14% -17.26% -40.70%
Net Income Q/Q Growth
-37.45% 120.41% -42.09% -20.52% -2.91% 91.64% 8.46% 25.51% 11.48% -19.22% -43.18%
EPS Q/Q Growth
-36.25% 121.57% -42.48% -20.00% -3.85% 92.00% 8.33% 25.96% 11.45% -19.18% -41.53%
Operating Cash Flow Q/Q Growth
-49.54% 107.30% -212.16% 329.99% -101.71% 2,835.32% -85.06% 503.89% 52.76% -17.81% -148.83%
Free Cash Flow Firm Q/Q Growth
117.82% -11.42% -81.66% 126.38% 91.08% -36.02% 205.09% -78.83% 248.98% -23.26% -85.03%
Invested Capital Q/Q Growth
4.88% -5.87% 9.01% -8.03% 2.57% -3.38% 2.47% -0.32% -2.31% -2.42% 6.25%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
18.67% 23.19% 19.59% 18.94% 22.24% 23.09% 22.61% 23.55% 25.27% 22.93% 21.50%
EBITDA Margin
7.47% 12.73% 8.96% 8.42% 7.76% 11.18% 10.50% 11.77% 13.21% 11.11% 8.46%
Operating Margin
4.85% 9.73% 5.99% 5.18% 4.91% 7.87% 8.10% 9.46% 10.78% 8.49% 6.19%
EBIT Margin
4.62% 9.67% 6.01% 5.25% 4.83% 7.83% 8.06% 9.52% 10.72% 8.56% 6.17%
Profit (Net Income) Margin
2.78% 5.87% 3.20% 2.63% 2.60% 4.69% 4.83% 5.97% 6.83% 5.51% 2.94%
Tax Burden Percent
75.93% 70.70% 74.85% 75.11% 84.89% 75.66% 75.01% 74.58% 74.56% 78.24% 59.75%
Interest Burden Percent
79.27% 85.85% 71.21% 66.84% 63.36% 79.22% 79.90% 84.13% 85.41% 82.24% 79.74%
Effective Tax Rate
24.07% 29.30% 25.15% 24.89% 15.11% 24.34% 24.99% 25.42% 25.44% 21.76% 40.26%
Return on Invested Capital (ROIC)
5.44% 11.07% 6.90% 6.50% 6.80% 10.36% 10.16% 12.67% 14.78% 12.72% 6.88%
ROIC Less NNEP Spread (ROIC-NNEP)
4.81% 10.19% 5.85% 5.30% 5.45% 9.05% 8.92% 11.41% 13.37% 11.25% 6.00%
Return on Net Nonoperating Assets (RNNOA)
5.17% 9.18% 5.70% 4.27% 4.76% 6.81% 7.20% 7.78% 8.75% 6.52% 4.32%
Return on Equity (ROE)
10.60% 20.25% 12.60% 10.77% 11.56% 17.16% 17.36% 20.45% 23.53% 19.24% 11.19%
Cash Return on Invested Capital (CROIC)
12.52% 11.88% 6.92% 8.91% 11.09% 8.69% 15.25% 9.26% 16.13% 15.96% 10.82%
Operating Return on Assets (OROA)
5.00% 11.04% 6.75% 6.24% 5.82% 9.63% 9.74% 12.28% 14.17% 11.20% 8.22%
Return on Assets (ROA)
3.01% 6.70% 3.60% 3.13% 3.13% 5.77% 5.84% 7.71% 9.02% 7.20% 3.91%
Return on Common Equity (ROCE)
10.60% 20.25% 12.60% 10.77% 11.56% 17.16% 17.36% 20.45% 23.53% 19.24% 11.19%
Return on Equity Simple (ROE_SIMPLE)
12.28% 0.00% 12.05% 10.75% 10.52% 0.00% 10.82% 13.12% 16.14% 0.00% 17.24%
Net Operating Profit after Tax (NOPAT)
41 81 56 47 50 75 81 95 106 87 52
NOPAT Margin
3.68% 6.88% 4.48% 3.89% 4.17% 5.95% 6.08% 7.05% 8.04% 6.64% 3.70%
Net Nonoperating Expense Percent (NNEP)
0.63% 0.87% 1.05% 1.19% 1.36% 1.31% 1.24% 1.26% 1.41% 1.47% 0.88%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - 2.66% - - - 1.71%
Cost of Revenue to Revenue
81.33% 76.81% 80.41% 81.06% 77.76% 76.91% 77.39% 76.45% 74.73% 77.07% 78.50%
SG&A Expenses to Revenue
11.81% 12.49% 11.72% 11.80% 15.36% 13.32% 12.75% 12.49% 12.70% 12.68% 13.67%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
13.83% 13.46% 13.61% 13.76% 17.33% 15.22% 14.51% 14.10% 14.49% 14.43% 15.31%
Earnings before Interest and Taxes (EBIT)
52 114 75 63 57 99 107 128 141 113 86
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
84 150 112 102 92 141 139 159 174 146 119
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.44 2.19 2.74 2.92 3.09 2.67 2.93 2.84 2.86 3.03 2.73
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
0.81 0.73 0.92 0.98 1.05 0.91 1.01 0.99 0.99 1.05 0.84
Price to Earnings (P/E)
19.87 16.63 22.73 27.18 29.38 27.55 27.02 21.67 17.69 18.20 15.85
Dividend Yield
1.85% 2.00% 1.57% 1.45% 1.35% 1.53% 1.38% 1.39% 1.38% 1.29% 1.61%
Earnings Yield
5.03% 6.01% 4.40% 3.68% 3.40% 3.63% 3.70% 4.61% 5.65% 5.50% 6.31%
Enterprise Value to Invested Capital (EV/IC)
1.73 1.65 1.89 2.09 2.17 1.99 2.15 2.15 2.20 2.37 1.98
Enterprise Value to Revenue (EV/Rev)
1.14 1.01 1.23 1.24 1.31 1.14 1.24 1.20 1.18 1.22 1.07
Enterprise Value to EBITDA (EV/EBITDA)
12.38 10.17 12.81 13.22 13.87 12.54 13.05 11.61 10.08 10.48 9.65
Enterprise Value to EBIT (EV/EBIT)
18.75 14.45 18.40 19.44 20.42 19.02 18.95 15.75 13.01 13.25 12.30
Enterprise Value to NOPAT (EV/NOPAT)
23.51 19.47 24.84 26.31 27.27 24.68 24.62 20.62 17.34 17.57 16.91
Enterprise Value to Operating Cash Flow (EV/OCF)
11.79 16.11 36.89 16.75 21.81 17.81 13.14 21.16 12.45 12.57 13.93
Enterprise Value to Free Cash Flow (EV/FCFF)
13.44 13.64 27.45 23.29 19.28 22.86 13.61 23.34 13.41 14.64 18.41
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.04 0.88 0.99 0.81 0.80 0.75 0.76 0.68 0.63 0.61 0.84
Long-Term Debt to Equity
1.00 0.83 0.94 0.75 0.75 0.70 0.71 0.63 0.61 0.59 0.82
Financial Leverage
1.08 0.90 0.98 0.81 0.87 0.75 0.81 0.68 0.65 0.58 0.72
Leverage Ratio
2.83 2.68 2.71 2.54 2.54 2.48 2.50 2.34 2.30 2.31 2.40
Compound Leverage Factor
2.25 2.30 1.93 1.70 1.61 1.96 2.00 1.97 1.97 1.90 1.91
Debt to Total Capital
50.88% 46.67% 49.74% 44.60% 44.52% 42.84% 43.32% 40.34% 38.54% 38.05% 45.74%
Short-Term Debt to Total Capital
1.93% 2.18% 2.46% 2.92% 2.95% 2.98% 2.98% 2.95% 1.35% 1.35% 1.15%
Long-Term Debt to Total Capital
48.95% 44.49% 47.27% 41.68% 41.56% 39.86% 40.33% 37.39% 37.19% 36.71% 44.59%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
49.12% 53.33% 50.26% 55.40% 55.48% 57.16% 56.68% 59.66% 61.46% 61.95% 54.26%
Debt to EBITDA
3.76 2.96 3.44 2.88 2.88 2.80 2.77 2.28 1.86 1.83 2.32
Net Debt to EBITDA
3.53 2.79 3.30 2.76 2.80 2.56 2.45 2.03 1.61 1.45 2.11
Long-Term Debt to EBITDA
3.62 2.82 3.27 2.69 2.69 2.60 2.58 2.11 1.80 1.77 2.27
Debt to NOPAT
7.13 5.66 6.66 5.74 5.65 5.51 5.22 4.05 3.20 3.07 4.08
Net Debt to NOPAT
6.71 5.33 6.40 5.49 5.50 5.03 4.62 3.61 2.76 2.42 3.70
Long-Term Debt to NOPAT
6.86 5.39 6.33 5.36 5.28 5.13 4.86 3.75 3.09 2.96 3.97
Altman Z-Score
2.49 2.52 2.65 2.96 3.06 2.96 3.18 3.27 3.41 3.39 3.03
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.47 1.33 1.68 1.40 1.46 1.46 1.69 1.53 1.59 1.49 1.72
Quick Ratio
1.32 1.09 1.44 1.17 1.22 1.23 1.47 1.36 1.40 1.32 1.52
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
207 183 34 76 146 93 284 60 210 161 24
Operating Cash Flow to CapEx
444.22% 2,077.93% -857.86% 1,715.39% -21.05% 454.23% 97.13% 301.32% 574.60% 512.85% -347.93%
Free Cash Flow to Firm to Interest Expense
19.18 11.39 1.56 3.63 6.92 4.54 13.21 2.95 10.21 8.05 1.38
Operating Cash Flow to Interest Expense
5.37 7.46 -6.23 14.75 -0.25 7.05 1.00 6.41 9.70 8.19 -4.57
Operating Cash Flow Less CapEx to Interest Expense
4.16 7.10 -6.96 13.89 -1.45 5.50 -0.03 4.28 8.01 6.59 -5.88
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
1.08 1.14 1.12 1.19 1.21 1.23 1.21 1.29 1.32 1.31 1.33
Accounts Receivable Turnover
5.49 5.64 5.08 5.85 5.79 6.00 5.32 6.18 6.37 6.22 5.90
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
73.73 80.62 91.12 90.77 95.75 107.69 117.02 124.54 131.54 136.39 147.69
Accounts Payable Turnover
10.82 12.95 13.83 13.52 14.04 14.18 14.44 14.75 14.20 13.85 14.91
Days Sales Outstanding (DSO)
66.54 64.71 71.91 62.44 63.08 60.80 68.66 59.07 57.32 58.69 61.82
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
33.75 28.19 26.39 26.99 25.99 25.74 25.27 24.74 25.70 26.35 24.49
Cash Conversion Cycle (CCC)
32.80 36.52 45.52 35.44 37.09 35.06 43.39 34.32 31.62 32.34 37.33
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
3,004 2,828 3,082 2,835 2,908 2,810 2,879 2,870 2,804 2,736 2,907
Invested Capital Turnover
1.48 1.61 1.54 1.67 1.63 1.74 1.67 1.80 1.84 1.91 1.86
Increase / (Decrease) in Invested Capital
-166 -102 22 -29 -96 -18 -203 35 -104 -74 28
Enterprise Value (EV)
5,193 4,668 5,832 5,914 6,320 5,599 6,186 6,166 6,177 6,478 5,761
Market Capitalization
3,711 3,390 4,331 4,680 5,045 4,457 5,025 5,085 5,192 5,585 4,501
Book Value per Share
$24.78 $25.59 $25.87 $26.36 $26.86 $27.44 $28.01 $29.32 $29.91 $30.62 $27.31
Tangible Book Value per Share
($18.56) ($18.06) ($17.18) ($16.47) ($15.86) ($15.18) ($14.17) ($13.27) ($12.90) ($12.60) ($15.59)
Total Capital
3,098 2,905 3,145 2,891 2,943 2,918 3,030 2,999 2,959 2,975 3,035
Total Debt
1,576 1,356 1,564 1,290 1,310 1,250 1,313 1,210 1,141 1,132 1,388
Total Long-Term Debt
1,516 1,292 1,487 1,205 1,223 1,163 1,222 1,121 1,101 1,092 1,353
Net Debt
1,482 1,278 1,501 1,233 1,275 1,142 1,161 1,081 985 893 1,260
Capital Expenditures (CapEx)
13 5.78 16 18 25 32 22 43 35 32 23
Debt-free, Cash-free Net Working Capital (DFCFNWC)
307 281 524 299 365 354 438 401 335 250 449
Debt-free Net Working Capital (DFNWC)
401 321 587 355 400 419 542 478 438 433 521
Net Working Capital (NWC)
341 258 510 271 313 332 451 390 398 393 486
Net Nonoperating Expense (NNE)
10 12 16 15 19 16 16 15 16 15 11
Net Nonoperating Obligations (NNO)
1,482 1,278 1,501 1,233 1,275 1,142 1,161 1,081 985 893 1,260
Total Depreciation and Amortization (D&A)
32 36 37 38 35 42 32 30 33 33 32
Debt-free, Cash-free Net Working Capital to Revenue
6.74% 6.06% 11.09% 6.28% 7.56% 7.22% 8.78% 7.82% 6.39% 4.71% 8.34%
Debt-free Net Working Capital to Revenue
8.80% 6.94% 12.42% 7.46% 8.29% 8.55% 10.87% 9.33% 8.35% 8.16% 9.69%
Net Working Capital to Revenue
7.49% 5.57% 10.78% 5.69% 6.49% 6.78% 9.06% 7.61% 7.59% 7.41% 9.04%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.51 $1.12 $0.65 $0.52 $0.50 $0.98 $1.05 $1.31 $1.47 $1.20 $0.69
Adjusted Weighted Average Basic Shares Outstanding
61.61M 61.77M 61.12M 61.12M 61.14M 61.13M 61.32M 61.37M 61.08M 61.05M 59.73M
Adjusted Diluted Earnings per Share
$0.51 $1.13 $0.65 $0.52 $0.50 $0.96 $1.04 $1.31 $1.46 $1.18 $0.69
Adjusted Weighted Average Diluted Shares Outstanding
61.76M 61.97M 61.20M 61.38M 61.54M 61.45M 61.54M 61.62M 61.38M 61.48M 60.00M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
60.55M 60.77M 60.77M 60.78M 60.78M 61.00M 61.03M 60.80M 60.18M 60.30M 56.60M
Normalized Net Operating Profit after Tax (NOPAT)
41 81 56 47 50 75 81 95 106 87 52
Normalized NOPAT Margin
3.68% 6.88% 4.48% 3.89% 4.17% 5.95% 6.08% 7.05% 8.04% 6.64% 3.70%
Pre Tax Income Margin
3.67% 8.30% 4.28% 3.51% 3.06% 6.20% 6.44% 8.01% 9.15% 7.04% 4.92%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
4.82 7.07 3.47 3.02 2.73 4.81 4.98 6.30 6.86 5.63 4.94
NOPAT to Interest Expense
3.84 5.03 2.59 2.24 2.36 3.66 3.75 4.67 5.14 4.37 2.96
EBIT Less CapEx to Interest Expense
3.62 6.71 2.75 2.16 1.53 3.26 3.94 4.17 5.17 4.03 3.62
NOPAT Less CapEx to Interest Expense
2.63 4.67 1.86 1.38 1.16 2.10 2.72 2.54 3.45 2.77 1.65
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
36.93% 33.71% 35.90% 39.54% 39.61% 42.07% 37.30% 30.11% 24.48% 23.75% 25.59%
Augmented Payout Ratio
76.48% 80.87% 35.90% 39.54% 52.57% 42.07% 37.30% 30.11% 40.59% 47.56% 131.82%

Frequently Asked Questions About Maximus' Financials

When does Maximus's fiscal year end?

According to the most recent income statement we have on file, Maximus' financial year ends in September. Their financial year 2024 ended on September 30, 2024.

How has Maximus' net income changed over the last 9 years?

Maximus' net income appears to be on an upward trend, with a most recent value of $306.91 million in 2024, rising from $160.05 million in 2015. The previous period was $161.79 million in 2023.

What is Maximus's operating income?
Maximus's total operating income in 2024 was $488.50 million, based on the following breakdown:
  • Total Gross Profit: $1.25 billion
  • Total Operating Expenses: $763.15 million
How has Maximus revenue changed over the last 9 years?

Over the last 9 years, Maximus' total revenue changed from $2.10 billion in 2015 to $5.31 billion in 2024, a change of 152.7%.

How much debt does Maximus have?

Maximus' total liabilities were at $2.29 billion at the end of 2024, a 1.3% decrease from 2023, and a 249.0% increase since 2015.

How much cash does Maximus have?

In the past 9 years, Maximus' cash and equivalents has ranged from $40.66 million in 2022 to $349.25 million in 2018, and is currently $183.12 million as of their latest financial filing in 2024.

How has Maximus' book value per share changed over the last 9 years?

Over the last 9 years, Maximus' book value per share changed from 9.29 in 2015 to 30.62 in 2024, a change of 229.8%.



This page (NYSE:MMS) was last updated on 4/29/2025 by MarketBeat.com Staff
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