# Maximus, Inc.: overview

MMS · NYSE · CIK 1032220 · [Industrials](/sectors/industrials.md) · fiscal year ends Sep 30

Pages: [Overview](/companies/mms.md) · [Financials](/companies/mms/financials.md) · [Filings](/companies/mms/filings.md) · [Insiders](/companies/mms/insiders.md)

Latest reported revenue: [$1.28bn](/filings/0001032220-26-000035.md) for Q3 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001032220-26-000035).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-09-30) | Q1 FY2025 (2024-12-31) | Q2 FY2025 (2025-03-31) | Q3 FY2025 (2025-06-30) | Q4 FY2025 (2025-09-30) | Q1 FY2026 (2025-12-31) | Q2 FY2026 (2026-03-31) | Q3 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,316 d](/filings/0001032220-25-000053.md) | [1,403](/filings/0001032220-26-000014.md) | [1,362](/filings/0001032220-26-000027.md) | [1,348](/filings/0001032220-26-000035.md) | [1,318 d](/filings/0001032220-25-000053.md) | [1,345](/filings/0001032220-26-000014.md) | [1,306](/filings/0001032220-26-000027.md) | [1,279](/filings/0001032220-26-000035.md) |
| Gross margin | % | [22.9% d](/filings/0001032220-25-000053.md) | [21.5%](/filings/0001032220-26-000014.md) | [24.9%](/filings/0001032220-26-000027.md) | [26.7%](/filings/0001032220-26-000035.md) | [25.3% d](/filings/0001032220-25-000053.md) | [23.7%](/filings/0001032220-26-000014.md) | [26.2%](/filings/0001032220-26-000027.md) | [27.3%](/filings/0001032220-26-000035.md) |
| Operating margin | % | [8.5% d](/filings/0001032220-25-000053.md) | [6.2%](/filings/0001032220-26-000014.md) | [11.2%](/filings/0001032220-26-000027.md) | [12.3%](/filings/0001032220-26-000035.md) | [9.3% d](/filings/0001032220-25-000053.md) | [10.9%](/filings/0001032220-26-000014.md) | [11.4%](/filings/0001032220-26-000027.md) | [12.6%](/filings/0001032220-26-000035.md) |
| Net margin | % | [5.5% d](/filings/0001032220-25-000053.md) | [2.9%](/filings/0001032220-26-000035.md) | [7.1%](/filings/0001032220-26-000035.md) | [7.9%](/filings/0001032220-26-000035.md) | [5.7% d](/filings/0001032220-25-000053.md) | [7.0%](/filings/0001032220-26-000035.md) | [7.5%](/filings/0001032220-26-000035.md) | [8.1%](/filings/0001032220-26-000035.md) |
| Diluted EPS | $ per share | not reported | [0.69](/filings/0001032220-26-000014.md) | [1.69](/filings/0001032220-26-000027.md) | [1.86](/filings/0001032220-26-000035.md) | not reported | [1.70](/filings/0001032220-26-000014.md) | [1.80](/filings/0001032220-26-000027.md) | [1.95](/filings/0001032220-26-000035.md) |
| Free cash flow | $m | [132 d](/filings/0001032220-25-000053.md) | [(103)](/filings/0001032220-26-000014.md) | [25.5 d](/filings/0001032220-26-000027.md) | [(198) d](/filings/0001032220-26-000035.md) | [642 d](/filings/0001032220-25-000053.md) | [(251)](/filings/0001032220-26-000014.md) | [179 d](/filings/0001032220-26-000027.md) | [(137) d](/filings/0001032220-26-000035.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-09-30) | FY2022 (2022-09-30) | FY2023 (2023-09-30) | FY2024 (2024-09-30) | FY2025 (2025-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [4,254](/filings/0001032220-23-000096.md) | [4,631](/filings/0001032220-24-000094.md) | [4,905](/filings/0001032220-25-000053.md) | [5,306](/filings/0001032220-25-000053.md) | [5,431](/filings/0001032220-25-000053.md) |
| Gross margin | % | [22.3%](/filings/0001032220-23-000096.md) | [20.3%](/filings/0001032220-24-000094.md) | [21.0%](/filings/0001032220-25-000053.md) | [23.6%](/filings/0001032220-25-000053.md) | [24.6%](/filings/0001032220-25-000053.md) |
| Operating margin | % | [9.6%](/filings/0001032220-23-000096.md) | [7.0%](/filings/0001032220-24-000094.md) | [6.0%](/filings/0001032220-25-000053.md) | [9.2%](/filings/0001032220-25-000053.md) | [9.7%](/filings/0001032220-25-000053.md) |
| Net margin | % | [6.8%](/filings/0001032220-23-000096.md) | [4.4%](/filings/0001032220-24-000094.md) | [3.3%](/filings/0001032220-25-000053.md) | [5.8%](/filings/0001032220-25-000053.md) | [5.9%](/filings/0001032220-25-000053.md) |
| Diluted EPS | $ per share | [4.67](/filings/0001032220-23-000096.md) | [3.29](/filings/0001032220-24-000094.md) | [2.63](/filings/0001032220-25-000053.md) | [4.99](/filings/0001032220-25-000053.md) | [5.51](/filings/0001032220-25-000053.md) |
| Free cash flow | $m | [481](/filings/0001032220-23-000096.md) | [234](/filings/0001032220-24-000094.md) | [224](/filings/0001032220-25-000053.md) | [401](/filings/0001032220-25-000053.md) | [366](/filings/0001032220-25-000053.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/mms/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $400.2m | 7,443,930 |  | Reduced −75,697 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $298.1m | 5,544,432 |  | Reduced −2,633,941 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $182.2m | 3,388,533 |  | Reduced −83,103 |
| [FULLER & THALER ASSET MANAGEMENT, INC.](/funds/1082327.md) | 2026-06-30 | $145.3m | 2,702,710 |  | Added +621,244 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $137.9m | 2,566,033 |  | Added +107,141 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $127.2m | 2,366,161 |  | Reduced −71,475 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $126.6m | 2,354,118 |  | Added +246,840 |
| [REINHART PARTNERS, LLC.](/funds/1080298.md) | 2026-06-30 | $106.6m | 1,982,415 |  | Added +1,127,346 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $84.8m | 1,577,117 |  | Added +79,438 |
| [Allianz Asset Management GmbH](/funds/1535323.md) | 2026-06-30 | $55.3m | 951,702 |  | Added +56,773 |

## Recent filings

[All 2,376 filings](/companies/mms/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-20 | 11:25 ET | [8-K](/filings/0001032220-26-000038.md) | 1.01 Entry into a material agreement; 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001032220-26-000038 |
| 2026-08-06 | 14:47 ET | [10-Q](/filings/0001032220-26-000035.md) | Quarterly report, period 2026-06-30 | 0001032220-26-000035 |
| 2026-08-06 | 12:25 ET | [8-K](/filings/0001032220-26-000033.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001032220-26-000033 |
| 2026-05-28 | 20:15 ET | [8-K](/filings/0001032220-26-000030.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001032220-26-000030 |
| 2026-05-07 | 15:35 ET | [10-Q](/filings/0001032220-26-000027.md) | Quarterly report, period 2026-03-31 | 0001032220-26-000027 |
| 2026-05-07 | 11:28 ET | [8-K](/filings/0001032220-26-000024.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001032220-26-000024 |
| 2026-03-11 | 20:24 ET | [8-K](/filings/0001032220-26-000017.md) | 5.07 Shareholder vote results | 0001032220-26-000017 |
| 2026-02-05 | 16:04 ET | [10-Q](/filings/0001032220-26-000014.md) | Quarterly report, period 2025-12-31 | 0001032220-26-000014 |
| 2026-02-05 | 12:17 ET | [8-K](/filings/0001032220-26-000012.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001032220-26-000012 |
| 2026-01-22 | 21:32 ET | [DEF 14A](/filings/0001032220-26-000007.md) | Proxy statement, period 2026-03-10 | 0001032220-26-000007 |

## Latest annual report

[Form 10-K for the fiscal year ended Sep 30, 2025](/filings/0001032220-25-000053.md), filed Nov 20, 2025.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1032220
- Tickers: MMS
- Exchange: NYSE
- SIC code: 7389 Services-Business Services, NEC
- State of incorporation: VA
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:30 ET. No prices; not investment advice.