MAXIMUS, INC.

MMS 10-Q · Q2 2026
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MMS Q2 2026 request

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Income Statement

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Income Statement
Metric Q2 2026 Q2 2025 YoY
Revenue 1,305,967 1,361,786 -4.1%
Show Product Lines breakouts
Clinical Services 530,808 503,963 +5.3%
Employment & Other 60,008 78,989 -24.0%
Program Operations 644,892 690,772 -6.6%
Technology Solutions 70,259 88,062 -20.2%
Show Business Segments breakouts
Outside the U.S. · Operating Segments 137,070 141,509 -3.1%
U.S. Federal Services · Operating Segments 753,143 777,927 -3.2%
U.S. Services · Operating Segments 415,754 442,350 -6.0%
Show Major Customers breakouts
International government agencies 134,847 138,724 -2.8%
New York state government agencies 147,360 155,949 -5.5%
Other U.S. state government agencies 272,787 287,184 -5.0%
Other, including local municipalities and commercial customers 16,085 20,346 -20.9%
Total U.S. state government agencies 420,147 443,133 -5.2%
U.S. federal government agencies 734,888 759,583 -3.3%
Show Change In Accounting Estimate By Type breakouts
Change In Accounting Method Accounted For As Change In Estimate 519 3,804 -86.4%
Show Contract With Customer Basis Of Pricing breakouts
Cost-plus 343,924 334,499 +2.8%
Fixed Price Contract 165,608 185,009 -10.5%
Performance-based 733,098 714,406 +2.6%
Time And Materials Contract 63,337 127,872 -50.5%
Cost of Revenue 963,703 1,022,965 -5.8%
Show Business Segments breakouts
Outside the U.S. · Operating Segments 120,760 116,516 +3.6%
U.S. Federal Services · Operating Segments 527,698 575,869 -8.4%
U.S. Services · Operating Segments 315,245 330,580 -4.6%
Gross Profit 342,264 338,821 +1.0%
Show Business Segments breakouts
Outside the U.S. · Operating Segments 16,310 24,993 -34.7%
U.S. Federal Services · Operating Segments 225,445 202,058 +11.6%
U.S. Services · Operating Segments 100,509 111,770 -10.1%
Selling, General & Administrative 173,479 162,857 +6.5%
Amortization Of Intangible Assets 20,298 22,996 -11.7%
Show Consolidation Items breakouts
Material Reconciling Items 20,298 22,996 -11.7%
Operating Income 148,487 152,968 -2.9%
Interest Expense 22,111 21,469 +3.0%
Other Non-Operating Income (Expense) -158 -963 +83.6%
Income Before Taxes 126,534 132,462 -4.5%
Income Tax Expense (Benefit) 28,471 35,893 -20.7%
Net Income 98,063 96,569 +1.5%
Show Equity Components breakouts
Retained Earnings 98,063 96,569 +1.5%
EPS (Basic) 1.81 1.7 +6.5%
EPS (Diluted) 1.8 1.69 +6.5%
Show Change In Accounting Estimate By Type breakouts
Change In Accounting Method Accounted For As Change In Estimate 0.01 0.05 -80.0%
Wtd Avg Shares (Basic) 54,242 56,892 -4.7%
Wtd Avg Shares (Diluted) 54,585 57,057 -4.3%
Common Stock Dividends Per Share Cash Paid 0.33 0.3 +10.0%
Comprehensive Income 96,034 97,748 -1.8%
Other Comprehensive Income -2,029 1,179 -272.1%
Depreciation And Amortization 12,328 9,440 +30.6%
Show Business Segments breakouts
Outside the U.S. · Operating Segments 867 1,602 -45.9%
U.S. Federal Services · Operating Segments 7,300 3,677 +98.5%
U.S. Services · Operating Segments 4,161 4,161 0.0%

Balance Sheet

Balance Sheet
Metric Q2 2026 Q2 2025 YoY
Current Assets
Cash & Cash Equivalents 157,452 108,059 +45.7%
Accounts Receivable 1,114,960 — —
Prepaid Expenses & Other Current Assets 171,644 119,313 +43.9%
Total Current Assets 1,508,848 1,328,267 +13.6%
Non-Current Assets
Property, Plant & Equipment 27,178 34,883 -22.1%
Operating Lease Right-of-Use Assets 84,097 118,302 -28.9%
Goodwill 1,780,507 1,780,726 -0.0%
Intangible Assets 497,342 584,229 -14.9%
Assets Held In Trust Noncurrent 58,472 52,523 +11.3%
Deferred Tax Assets 7,590 10,035 -24.4%
Other Non-Current Assets 9,820 19,027 -48.4%
Total Assets 4,239,174 4,199,772 +0.9%
Other Assets
Income Tax Receivable 64,792 3,491 +1756.0%
Capitalized Computer Software Net 202,583 210,980 -4.0%
Show Property Plant And Equipment By Type breakouts
Technology Equipment 32.9 40.9 -19.6%
Capitalized Contract Cost Net 62,737 60,800 +3.2%
Current Liabilities
Accounts Payable And Accrued Liabilities Current 281,984 306,445 -8.0%
Employee Related Liabilities Current 152,362 165,350 -7.9%
Deferred Revenue (Current) 37,910 79,447 -52.3%
Accrued Income Taxes Current 959 17,677 -94.6%
Current Portion of Long-Term Debt 63,930 47,055 +35.9%
Operating Lease Liability Current 35,400 38,788 -8.7%
Other Liabilities Current 109,142 66,475 +64.2%
Total Current Liabilities 681,687 721,237 -5.5%
Non-Current Liabilities
Contract With Customer Liability Noncurrent 37,662 36,431 +3.4%
Deferred Tax Liabilities 212,703 166,632 +27.6%
Long-Term Debt 1,471,816 1,445,746 +1.8%
Deferred Compensation Liability Classified Noncurrent 58,171 52,321 +11.2%
Operating Lease Liabilities 56,640 88,487 -36.0%
Other Non-Current Liabilities 23,534 21,444 +9.7%
Total Liabilities 2,542,213 2,532,298 +0.4%
Stockholders' Equity
Common Stock Value Outstanding 639,269 616,315 +3.7%
Accumulated Other Comprehensive Income -21,055 -18,375 -14.6%
Retained Earnings 1,078,747 1,069,534 +0.9%
Total Stockholders' Equity 1,696,961 1,667,474 +1.8%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent 2,182 — —
Accumulated Other Comprehensive Income -21,055 -18,375 -14.6%
Accumulated Translation Adjustment -23,237 — —
Common Stock Including Additional Paid In Capital 639,269 616,315 +3.7%
Retained Earnings 1,078,747 1,069,534 +0.9%
Total Liabilities & Equity 4,239,174 4,199,772 +0.9%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2026 YTD Q2 2025 YoY
Operating Activities
Depreciation Of Fixed Assets And Amortization Of Capitalized Software 25,217 17,895 +40.9%
Impairment Of Long Lived Assets Held For Use 6,914 — —
Impairment Of Long Lived Assets Held For Use (Q) — — —
Show Property Plant And Equipment By Type breakouts
Technology Equipment 6.9 — —
Amortization Of Financing Costs And Discounts 1,472 1,310 +12.4%
Deferred Income Taxes 67,781 -590 +11588.3%
Stock-Based Compensation 16,918 19,575 -13.6%
Gain Loss On Sale Of Business -8,985 39,343 -122.8%
Show Consolidation Items breakouts
Material Reconciling Items -8,985 39,343 -122.8%
Change in Accounts Receivable -222,665 -234,882 +5.2%
Change in Prepaid & Other Assets 5,963 7,943 -24.9%
Increase Decrease In Deferred Charges 438 -1,915 +122.9%
Increase Decrease In Accounts Payable And Accrued Liabilities -14,238 5,943 -339.6%
Increase Decrease In Employee Related Liabilities -73,431 -48,001 -53.0%
Change in Deferred Revenue -21,602 -11,293 -91.3%
Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable -74,463 -6,465 -1051.8%
Increase Decrease In Operating Lease Right Of Use Assets And Liabilities -1,473 -2,363 +37.7%
Increase Decrease In Other Operating Capital Net 4,674 -7,578 +161.7%
Net Cash from Operations -54,876 -37,282 -47.2%
Investing Activities
Payments To Acquire Productive Assets -16,772 -40,198 +58.3%
Proceeds From Divestiture Of Businesses 12,895 736 +1652.0%
Net Cash from Investing -3,877 -41,627 +90.7%
Financing Activities
Payments Of Ordinary Dividends -34,159 -34,961 +2.3%
Share Repurchases -155,002 -306,443 +49.4%
Tax Withholding for Share Compensation -17,325 -16,441 -5.4%
Proceeds From Issuance Of Debt 665,000 959,000 -30.7%
Debt Repayments -465,000 -597,639 +22.2%
Proceeds From Payments For Other Financing Activities 50,109 -1,181 +4342.9%
Net Cash from Financing 43,623 677 +6343.6%
Supplemental
Income Taxes Paid 67,349 70,397 -4.3%
Interest Paid 41,395 38,767 +6.8%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents -632 -1,593 +60.3%
Net Change in Cash -15,762 -79,825 +80.3%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 244,697 155,938 +56.9%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

This table is rendered from the same JSON returned by /api/financials.

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