FY2025 · ended Sep 30, 2025 · Revenue $5.43B, +2.4% YoY · Filed Nov 20, 2025
Maximus, Inc. (MMS) files with the SEC under industry code 7389, Services-Business Services, NEC. In fiscal 2025, which ended Sep 30, 2025, it reported revenue of $5.4 billion and net income of $319.0 million. Free cash flow was $366.2 million. As of Jun 30, 2026 it held $57.0 million in cash and investments and $1.7 billion in total debt.
Revenue (TTM)
$5.25B
-3.3% vs year-ago TTM
Net income (TTM)
$370.89M
+17.3% vs year-ago TTM
Operating cash flow (TTM)
$469.51M
+935.9% vs year-ago TTM
Free cash flow (TTM)
$433.23M
+401.3% vs year-ago TTM
EPS (TTM)
$6.74
+25.6% vs year-ago TTM
Dividend per share (TTM)
$1.26
+5.0% vs year-ago TTM
Shares outstanding
54.46M
-9.7% vs prior year
Net cash
$-1.67B
as of Jun 30, 2026
Operating margin
11.0%
FY 2026
Company profile
- Industry
- Services-Business Services, NEC (SIC 7389)
- Listed as
- MMS (NYSE)
- Fiscal year ends
- September 30
- Incorporated in
- VA
- Headquarters
- Mclean, VA
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1032220
- Former names
- MAXIMUS INC (until Jul 2, 2019)
Other Services-Business Services, NEC companies
- Visa Inc. V
- Mastercard Inc MA
- Alibaba Group Holding Ltd BABA
- Accenture plc ACN
- Uber Technologies, Inc UBER
- PDD Holdings Inc. PDD
- Mercadolibre Inc MELI
- DoorDash, Inc. DASH
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Sep 30, 2025 |
FY 2024 Sep 30, 2024 |
FY 2023 Sep 30, 2023 |
FY 2022 Sep 30, 2022 |
FY 2021 Sep 30, 2021 |
|---|---|---|---|---|---|
| Revenue | $5.4B | $5.3B | $4.9B | $4.6B | $4.3B |
| Operating income | $528.3M | $488.5M | $294.8M | $325.9M | $408.5M |
| Net income | $319.0M | $306.9M | $161.8M | $203.8M | $291.2M |
| Diluted EPS | $5.51 | $4.99 | $2.63 | $3.29 | $4.67 |
| Operating cash flow | $429.4M | $515.3M | $314.3M | $289.8M | $517.3M |
| Free cash flow | $366.2M | $401.1M | $223.6M | $233.7M | $480.8M |
| Total assets | $4.1B | $4.1B | $4.0B | $4.0B | $4.1B |
| Total liabilities | $2.4B | $2.3B | $2.3B | $2.4B | $2.6B |
| Stockholders' equity | $1.7B | — | — | — | — |
| Cash and investments | $222.4M | $183.1M | $65.4M | $40.7M | $135.1M |
| Total debt | $1.4B | $1.3B | $1.4B | $1.5B | $1.7B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Material agreement, Results of operations, Regulation FD disclosure
|
Oct 20, 2026 | Oct 19, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 6, 2026 | Aug 6, 2026 |
| 8-K |
Current report
Material agreement, New debt
|
May 28, 2026 | May 27, 2026 |
| 10-Q | Quarterly report | May 7, 2026 | Mar 31, 2026 |
| 8-K |
Current report
Results of operations
|
May 7, 2026 | May 7, 2026 |
All 1001 Maximus, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.