Stocktoria

MAXIMUS, INC. MMS

NYSE · stock · Services-Business Services, NEC · website · IPO 1997-06-13 · LEI

MAXIMUS, INC. statistics & valuation

Market cap$2.9B
P / E9.0×
P / S0.5×
P / B1.7×
Net margin5.9%
Return on equity19.1%
Net debt$1.1B
Net debt / EBITDA1.9×
Enterprise value USD$3.9B
EV / EBITDA6.9×
Earnings yield EBIT/EV13.5%
Return on capital16%
Graham number +10%$59.86

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($59.86); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
7.40% 8.50% 9.20% 8.30% 6.20% 6.80% 4.40% 3.30% 5.80% 5.90% 2016201720182019202020212022202320242025
Gross margin (%)
23.40% 25.00% 24.80% 23.20% 20.50% 22.30% 20.30% 21.00% 23.60% 24.60% 2016201720182019202020212022202320242025
Operating margin (%)
11.90% 12.80% 12.40% 11.00% 8.30% 9.60% 7.00% 6.00% 9.20% 9.70% 2016201720182019202020212022202320242025
Return on equity (%)
23.70% 22.10% 20.30% 19.30% 17.30% 19.70% 13.20% 9.70% 16.70% 19.10% 2016201720182019202020212022202320242025
Shares outstanding
66.2M 66.1M 65.9M 64.8M 63.3M 62.4M 62.0M 61.5M 61.5M 57.9M 2016201720182019202020212022202320242025
Net debt ($)
$99.1M -$165.7M -$348.9M -$105.3M -$42.8M $1.37B $1.25B $1.10B $908.8M $1.06B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
13.20% 15.50% 15.10% 13.80% 10.60% 7.10% 5.10% 4.10% 7.40% 7.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.22× 0.00× 0.00× 0.00× 0.02× 1.02× 0.83× 0.70× 0.59× 0.77× 2016201720182019202020212022202320242025
EPS ($)
$2.69 $3.17 $3.35 $3.72 $3.39 $4.67 $3.29 $2.63 $4.99 $5.51 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

MAXIMUS, INC. trades at about 9.9× earnings — below its 10-year norm (10-year range 15.1×–28.4×, median 19.4×).

9.9× 28.4×

Shaded band = 10-year range (15.1×–28.4×); dot = today's 9.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin24.6%23.6%21.0%20.3%22.3%20.5%23.2%24.8%25.0%23.4%
Operating margin9.7%9.2%6.0%7.0%9.6%8.3%11.0%12.4%12.8%11.9%
Net margin5.9%5.8%3.3%4.4%6.8%6.2%8.3%9.2%8.5%7.4%
Return on assets7.8%7.4%4.1%5.1%7.1%10.6%13.8%15.1%15.5%13.2%
Return on equity19.1%16.7%9.7%13.2%19.7%17.3%19.3%20.3%22.1%23.7%
Debt / equity0.77×0.59×0.70×0.83×1.02×0.02×0.00×0.00×0.00×0.22×
Current ratio1.641.491.461.331.371.662.172.912.081.82

Computed from company filings · US · as of 2025-09-30. Facts plus Stocktoria's own computed scores — not investment advice.