Maximus Inc (MMS) financials
Maximus revenue and earnings by year
Maximus's revenue was $5.43 billion in the fiscal year to September 30, 2025, up 2.4% from the year before. Net income was $319 million, 5.9% of revenue. Since the fiscal year to September 30, 2016, revenue has grown 9.5% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | Sep 2020 | Sep 2019 | Sep 2018 | Sep 2017 | Sep 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5.43 | 5.31 | 4.90 | 4.63 | 4.25 | 3.46 | 2.89 | 2.39 | 2.45 | 2.40 |
| Revenue growth | 2.4% | 8.2% | 5.9% | 8.9% | 22.9% | 19.9% | 20.7% | -2.4% | 2.0% | — |
| Gross profit | 1.33 | 1.25 | 1.03 | 0.94 | 0.95 | 0.71 | 0.67 | 0.59 | 0.61 | 0.56 |
| Gross margin | 24.6% | 23.6% | 21.0% | 20.3% | 22.3% | 20.5% | 23.2% | 24.8% | 25.0% | 23.4% |
| Operating income | 0.53 | 0.49 | 0.29 | 0.33 | 0.41 | 0.29 | 0.32 | 0.30 | 0.31 | 0.28 |
| Operating margin | 9.7% | 9.2% | 6.0% | 7.0% | 9.6% | 8.3% | 11.0% | 12.4% | 12.8% | 11.6% |
| Net income | 0.32 | 0.31 | 0.16 | 0.20 | 0.29 | 0.21 | 0.24 | 0.22 | 0.21 | 0.18 |
| Net margin | 5.9% | 5.8% | 3.3% | 4.4% | 6.8% | 6.2% | 8.3% | 9.2% | 8.5% | 7.4% |
| Diluted EPS | $5.51 | $4.99 | $2.63 | $3.29 | $4.67 | $3.40 | $3.72 | $3.35 | $3.18 | $2.70 |
| Free cash flow | 0.37 | 0.40 | 0.22 | 0.25 | 0.48 | 0.20 | 0.29 | 0.29 | 0.31 | 0.13 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open MMS in Markets.
How Maximus makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Program Operations | $603M | 47.1% |
| Clinical Services | $553M | 43.2% |
| Technology Solutions | $67.2M | 5.3% |
| Employment & Other | $55.9M | 4.4% |
See also: MMS valuation and P/E history · MMS returns
No forecast, no recommendation. This page describes Maximus Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.