MMS · Maximus, Inc.
$52.65
-0.88 (-1.64%)
At close · Oct 2
Return incl. dividend (before tax)
Market Cap
$2.75B
Shares
52.36M
Volume · Oct 2
610.06K
Avg daily vol (3M)
642.91K
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$52.65
Open$53.69
Day$52.61–53.69
52W close$52.10–98.93
Avg vol 30d648K
Short int3.3M · 6.3% float · 5.8d
Short vol57%
Last earningsAug 6, 2026
DataJan 2020–Oct 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 5, 2026
Est · unconfirmed
· in 5 wks
filed Aug 6, 2026
call held Aug 6, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$5.25B
Trailing 12 months
Net income (TTM)
$370.89M
Trailing 12 months
Revenue growth YoY
-5.1%
Year over year
Operating margin
11.0%
Trailing 12 months
P / E (TTM)
8.0
Trailing earnings · reciprocal yield 12.6%
FCF yield
15.7%
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
-6.9%
Year over year · fewer shares
Price change (1Y)
-41.1%
Trailing year
Short interest
6.3%
Latest settlement · 5.8 days to cover
AI Brief
Q3 FY26 earnings call · Aug 6, 2026
Q3 FY26
TL;DR. Maximus reported in-line Q3 revenue and margin gains but lowered FY2026 earnings, EBITDA margin, and free cash flow guidance due to a temporary customer-directed contractual modification on a major federal program (VA), while reiterating revenue guidance toward the low end.
Bullish
- + Adjusted EBITDA margin expanded to 15.0% from 14.7% a year ago on AI/automation-driven efficiency gains.
- + Signed contract awards and awarded-but-unsigned contracts both expanded, with unsigned awards up materially on longer-duration recompete wins.
- + Defence and national security pipeline identified at nearly $47 billion, with notable wins at the Air Force and TSA.
- + SNAP opportunity ramping with 40+ Accuracy Assistant demonstrations and FY25 national payment error rate of ~10.6% reinforcing demand for accuracy tools.
- + AI initiatives are driving internal margin gains, with one 5-contract group achieving a 3.5% operating margin improvement.
Bearish
- − FY2026 adjusted EPS guidance cut to $7.90–$8.20 and adjusted EBITDA margin to ~13.7% due to a temporary VA contractual modification.
- − FY2026 free cash flow guidance lowered to $425–$475 million from prior expectations.
- − VA incentive pause of ~180 days through December 31, 2026 reduces profitability; CFO signals Q4 13% implied EBITDA margin as a likely near-term run rate without those incentives.
- − Federal civilian market seeing procurement delays, scope revisions and cancellations; book-to-bill at only ~0.5x on a trailing-12-month basis.
- − Revenue declined 5.2% YoY to $1.28B and nine-month revenue fell ~4.4% to $3.93B, with FY26 revenue now expected toward the low end of the $5.2–$5.35B range.
- − Q3 free cash flow was an outflow of $137 million and DSO remained elevated at 98 days, despite post-quarter collections of $245M.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Strong Sell
Momentum
Very Weak
Sentiment
Bearish
Fundamentals
Strong
Quant / Vol
High
Market backdrop
VIX 15.3 · calm
Equity put/call 0.58
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−22%
below
Price vs 50-day avg
−8%
below
RSI (14)
36
neutral
MACD trend
Negative
52-week position
1%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−10%
trailing
6-month return
−22%
trailing
YTD return
−39%
this year
Relative strength
−34%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $57 › 200d $68 — 200d above 50d
Institutional flow
Distributing
1 of 355 funds reported for Sep 30 · net -265 sh shares
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
6.31% of float · ▲ +2.8% MoM · 5.8 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
355 holders — mid 3-yr range
Squeeze score
61
elevated · 0–100
Fundamentals
Revenue growth
−2%
Y/Y
Gross margin
56%
expanding
EPS growth
+10%
Y/Y
Free cash flow
$330.4M
Valuation
P/E 7.8
below peers
Buyback
$400.0M
remaining
Balance sheet
$1.1B
net debt
Quant / Vol
risk profile
Volatility
35%
annualized · 1-yr
Max drawdown
−47%
past year
ATR
3.2%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Aug 6, 2026
Revenue
· fiscal year 2026
Initiated
$5.2B – $5.35B
prior FY $5.43B
midpoint −2.9% Y/Y
Adjusted diluted earnings per share
· fiscal year 2026
Non-GAAP
Initiated
$7.90 – $8.20
Adjusted EBITDA margin
· fiscal year 2026
Non-GAAP
Initiated
13.7%
Free cash flow
· fiscal year 2026
Non-GAAP
Initiated
$425M – $475M
Interest expense
· fiscal year 2026
Initiated
$88M
Tax rate
· fiscal year 2026
Initiated
24% – 24.5%
U.S. Federal Services Segment operating margin
· fiscal year 2026
Initiated
16.5% – 17%
U.S. Services Segment operating margin
· fiscal year 2026
Initiated
9.5% – 10%
Guided vs delivered
· last 6 settled
Revenue
fiscal year 2024
guided $5.25B – $5.35B
$5.31B
In line
Revenue
fiscal year 2022
guided $4.4B – $4.6B
$4.63B
Beat +2.9%
Revenue
fiscal 2021
guided $3.4B – $3.53B
$4.25B
Beat +22.9%
Diluted earnings per share
fiscal 2021
guided $3.55 – $3.75
$4.67
Beat +27.9%
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−22%
Bearish
Price vs 50-day avg
−8%
Bearish
RSI (14)
36
Neutral
MACD trend
Negative
Bearish
52-week position
1%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross)
No cross
50d $57 › 200d $68 — 200d above 50d
Institutional flow
Distributing
1 of 355 funds reported for Sep 30 · net -265 sh shares
Insider flow
Flat
No net insider activity over 90 days
Short interest
Rising
6.31% of float · ▲ +2.8% MoM · 5.8 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
355 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $52
Now $53 · 1%
Range high $99
vs 200-day avg -22%
vs 50-day avg -8%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted diluted earnings per share excluding amortization of intangible assets and divestiture- non-GAAP | $6.14 | For the Nine Months Ended June 30, 2026 | — |
| Adjusted EBITDA (Non-GAAP) non-GAAP | 550.77M | For the Nine Months Ended June 30, 2026 | — |
| Adjusted EBITDA margin (Non-GAAP) non-GAAP | 14% | For the Nine Months Ended June 30, 2026 | — |
| Adjusted net income excluding amortization of intangible assets and divestiture-related adjustme non-GAAP | 332.92M | For the Nine Months Ended June 30, 2026 | — |
| Consolidated EBITDA (as defined by our Credit Agreement) non-GAAP | $210.4M | the three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP Net income 103.59M
+23.88M Interest expense
-608K Other (income)/expense, net
+34.57M Provision for income taxes
+20.19M Amortization of intangibles
+7.36M Stock compensation expense
+0K Capitalized software impairment charges
-1.16M Divestiture-related (gains)/charges, net
+11.87M Depreciation and amortization of property, equipment, and capitalized software
+10.72M Pro forma and other adjustments permitted by our Credit Agreement
= Consolidated EBITDA (as defined by our Credit Agreement) 210.4M
|
|||
| Contracts pending (awarded but unsigned) | $1.35B | the third quarter of fiscal year 2026 | — |
| DSO | 98 | the third quarter of fiscal year 2026 | — |
| Free cash flow (Non-GAAP) non-GAAP | -208.62M | For the Nine Months Ended June 30, 2026 | — |
| Signed contract awards (year-to-date) | $1.25B | the third quarter of fiscal year 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Specialty Business Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MMS
this stock
Maximus, Inc.
|
$2.75B | -39.0% | -2.4% | 7.8 | 6.3% |
|
CTAS
Cintas Corp
|
$78.56B | +2.6% | +6.4% | 40.0 | 2.8% |
|
RELX
Relx PLC
|
$58.28B | -17.3% | — | — | 0.4% |
|
TRI
Thomson Reuters Corp /Can/
|
$42.89B | -26.0% | — | — | 2.9% |
|
CPRT
Copart Inc
|
$25.27B | -30.5% | +24.7% | 17.6 | 3.7% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Financials
Filings
Earnings & Events
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MMS | +0.1% | -9.9% | -21.8% | -1.0% | -39.0% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | +0.3% | -9.4% | -34.0% | -1.9% | -51.9% |
Capital returns
Buyback program
· as of Jun 30, 2026
Authorized
$400.00M
Spent (derived)
$0
Remaining
$400.00M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.