Maximus, Inc. (MMS)

Maximus Income Statement

Financials in millions USD. Fiscal year is October - September.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2025	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021
Revenue	5,431	5,306	4,905	4,631	4,254
Revenue Growth (YoY)	2.36%	8.19%	5.91%	8.85%	22.91%
Cost of Revenue	4,098	4,055	3,876	3,691	3,308
Gross Profit	1,333	1,252	1,029	939.81	946.98
Selling, General & Admin	713.11	671.58	639.22	534.49	484.59
Amortization of Goodwill & Intangibles	92.05	91.57	94.59	90.47	44.36
Operating Expenses	805.15	763.15	733.81	624.96	528.95
Operating Income	528.29	488.5	294.79	314.85	418.03
Interest Expense	-84.08	-82.44	-84.14	-45.97	-14.74
Other Non Operating Income (Expenses)	0.64	0.45	-0.36	-2.84	-1.6
EBT Excluding Unusual Items	444.85	406.51	210.29	266.05	401.69
Merger & Restructuring Charges	-	-	-	-	-9.5
Gain (Loss) on Sale of Assets	-	-	-	11.05	-
Other Unusual Items	-	-	-	-	-8.51
Pretax Income	444.85	406.51	210.29	277.1	383.68
Income Tax Expense	125.82	99.6	48.5	73.27	92.48
Earnings From Continuing Operations	319.03	306.91	161.79	203.83	291.2
Net Income	319.03	306.91	161.79	203.83	291.2
Net Income to Common	319.03	306.91	161.79	203.83	291.2
Net Income Growth	3.95%	89.70%	-20.62%	-30.00%	35.75%
Shares Outstanding (Basic)	57	61	61	62	62
Shares Outstanding (Diluted)	58	61	61	62	62
Shares Change (YoY)	-5.79%	0.06%	-0.84%	-0.64%	-1.51%
EPS (Basic)	5.56	5.03	2.65	3.30	4.69
EPS (Diluted)	5.51	4.99	2.63	3.29	4.67
EPS Growth	10.42%	89.73%	-20.06%	-29.55%	37.76%
Free Cash Flow	366.16	383.07	223.65	233.69	480.76
Free Cash Flow Per Share	6.32	6.23	3.64	3.77	7.71
Dividend Per Share	1.200	1.200	1.120	1.120	1.120
Dividend Growth	-	7.14%	-	-	-
Gross Margin	24.55%	23.59%	20.97%	20.29%	22.26%
Operating Margin	9.73%	9.21%	6.01%	6.80%	9.83%
Profit Margin	5.87%	5.78%	3.30%	4.40%	6.84%
Free Cash Flow Margin	6.74%	7.22%	4.56%	5.05%	11.30%
EBITDA	639.81	599.23	417.81	433.55	496.45
EBITDA Margin	11.78%	11.29%	8.52%	9.36%	11.67%
D&A For EBITDA	111.52	110.73	123.02	118.7	78.42
EBIT	528.29	488.5	294.79	314.85	418.03
EBIT Margin	9.73%	9.21%	6.01%	6.80%	9.83%
Effective Tax Rate	28.28%	24.50%	23.06%	26.44%	24.10%

Updated Nov 20, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q