Maximus, Inc.

Maximus, Inc.

MMSยทNYSE

$60.14

+0.86%
IndustrialsSpecialty Business Services

Maximus, Inc. provides business process services (BPS) to government health and human services programs. It operates through three segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment offers various BPS solutions, such as program administration, appeals and assessments, and related consulting works for U.S. state and local government programs, including the Affordable Care Act, Medicaid, the Children's Health Insurance Program, Temporary Assistance to Needy Families, child support programs, Preadmission Screening and Resident Reviews, and Independent Developmental Disability assessments. This segment also provides program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; person-centered independent disability, long-term sick, and other health assessments; and specialized consulting services. The U.S. Federal Services segment offers centralized citizen engagement centers and support services; document and record management; case management, citizen support, and consumer education; independent medical reviews and worker's compensation benefit appeals; Medicare and Medicaid appeals; and federal marketplace eligibility appeals. This segment also provides modernization of systems and information technology infrastructure; infrastructure operations and support services; software development, operations, and management services; and data analytics services. The Outside the U.S. segment offers BPS solutions for governments and commercial clients outside the United States, including health and disability assessments, program administration for employment services, and other job seeker-related services. The company was incorporated in 1975 and is headquartered in Tysons, Virginia.

At a Glance

Live Snapshot
Market Cap$3.16B
EPS5.5600
P/E Ratio10.82
Earnings Date08/06/2026
Maximus, Inc.

Maximus, Inc. Fair Value Envelope

MMS ยท NYSE

Our analysis suggests that MMS has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $60.14, this represents a potential HIDDEN relative to our calculated worth for Maximus, Inc..

Intrinsic Value
Current Price: $60.14

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$3.2B
+ Cash & Equivalents$260.5M
Firm Value$3.4B
- Debt$1.4B
Equity Value$2.0B
/ Shares Outstanding56,349,629B
DCF Value$35
OVERVALUED BY 41%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$392.0M
$357.9M
$326.7M
$298.3M
$272.3M
$248.6M
$227.0M
$207.2M
$189.2M
$172.7M
Maintenance CapEx
-$11.5M
-$10.5M
-$9.6M
-$8.8M
-$8.0M
-$7.3M
-$6.7M
-$6.1M
-$5.6M
-$5.1M
Owner Earnings
$380.5M
$347.3M
$317.1M
$289.5M
$264.3M
$241.3M
$220.3M
$201.1M
$183.6M
$167.6M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$352.3M
$297.8M
$251.7M
$212.8M
$179.9M
$152.1M
$128.5M
$108.7M
$91.9M
$77.6M
Terminal Value represents 41.6% of Enterprise Value