Is the business good?
How good a business is MMS?
Maximus, Inc. earns 15% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
15%
Return on invested capital · cost of capital 9.0% · 6.0 points above what the capital costs: growth creates value
- Operating margin
- 11%
Operating margin · Specialty Business Services median 10% · 12 months to Q2 2026
- Cash conversion
- 1.00×
Cash conversion · 0.73× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −4.3%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 8.3% |
| FY2021 | 9.6% |
| FY2022 | 7.0% |
| FY2023 | 6.0% |
| FY2024 | 9.2% |
| FY2025 | 9.7% |
Details›
- Gross margin12 months to Q2 2026
- 25%
- Operating margin12 months to Q2 2026
- 11%
- Net margin12 months to Q2 2026
- 7.0%
- Free cash flow margin
- 7.0%
- Revenue, trailing twelve months
- $5.32B
- Free cash flow, trailing twelve months
- $372M
- Net income, trailing twelve months
- $373M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 15%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Specialty Business Services
Ranks #4 of 18 by Smart Score