Maximus, Inc. (MMS) AI Stock Analysis

Maximus, Inc. specializes in providing business process services tailored for government health and human services programs globally. It operates through three main segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment delivers program eligibility support, enrollment facilitation, customer contact centers, health plan counseling, beneficiary outreach, disability assessments, and employment services. The U.S. Federal Services segment supports federal programs with eligibility, clinical solutions, modernization, cybersecurity, and infrastructure engineering. Outside the U.S., Maximus offers tailored business process solutions to international governments and commercial clients, including health assessments and disability program administration.

Maximus grew revenue from $4.25B in FY2021 to $5.43B in FY2025, recording a 5-year revenue CAGR of 9.4%. Operating margin expanded to 10.6% in FY2025 from 6.0% in FY2023, while net income reached $319.0M with diluted EPS of $7.40 in FY2025. Over the trailing twelve months, revenue was $5.25B and operating margin stood at 12.6%. In the latest quarter ended June 30, 2026, quarterly revenue fell 5.1% year-over-year, while quarterly earnings grew 4.8%.

As of June 30, 2026, Maximus held $57.0M in cash and short-term investments against total debt of $1.73B, resulting in net debt of $1.67B. Shareholders' equity was $1.74B, yielding a debt-to-equity ratio of 0.99 and a current ratio of 2.42. In FY2025, the company generated $429.4M in operating cash flow and $366.2M in free cash flow. Capital allocation in FY2025 included $63.2M in capital expenditures, $68.7M paid in dividends, and $447.5M used for share buybacks.

Maximus trades at a trailing P/E of 9.1x and an EV/EBITDA of 6.4x, compared to the median of its US-listed Industrials peers of 24.8x and 13.9x, respectively. Its forward P/E is 19.1x, above the peer median of 17.2x, while its price-to-sales ratio of 0.6x sits below the peer median of 1.5x. The stock has delivered a 1-year return of -25.3%, trailing the S&P 500 (SPY) return of 16.8% over the same period.

Maximus pays a quarterly dividend with an annualized forward rate of $1.32 per share, yielding 2.15% at the last close of $61.47. The dividend payout ratio stands at 17.0%, and dividends have been paid consecutively for 22 years. Over the past five years, dividend growth annualized at 1.4%, with the last ex-dividend date set for November 13, 2026.

Maximus has 2 Buy ratings, 0 Strong Buy, 0 Hold, 0 Sell, and 0 Strong Sell ratings. The mean price target is $92.50, representing an upside of 50.5% from the last close of $61.47. For the fiscal year ending September 30, 2026, consensus estimates project EPS of $8.01 on revenue of $5.23B. The company beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 19, 2026.

This page is an AI-written research summary of Maximus, Inc. (MMS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: MMS income statement, MMS balance sheet, MMS key metrics, MMS analyst forecast, MMS chart. See the MMS stock overview for the latest quote and news.