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Maximus Valuation Multiples

Discover revenue and EBITDA valuation multiples for Maximus and similar public comparables like Appen, Bluebik Group, and RPMGlobal.

Maximus Overview

About Maximus

Maximus Inc designs, develops, and delivers programs, enabling people to access vital government services. It translates health and human services public policy into operating models that achieve outcomes for governments at scale. The company covers a broad array of services, including the operation of large health insurance eligibility and enrollment programs; clinical services, including assessments, appeals, and independent medical reviews; and technology services. The company operates through the following segments; U.S. Federal Services, U.S. Services, and Outside the U.S. A majority of its revenue is derived from the U.S. Federal Services segment which engages with various U.S. federal government agencies to deliver clinical services, maintenance services, and technology solutions.


Founded

1975

HQ

United States of America
Employees

41.1K+

Website

maximus.com

Financials

LTM Revenue $5.3B

Last FY EBITDA $614M

EV

$5.6B

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Maximus Financials

Maximus has a last 12-month revenue (LTM) of $5.3B and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Maximus achieved revenue of $5.3B and an EBITDA of $614M.

Maximus expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Maximus P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $5.3B XXX $5.3B XXX XXX XXX
Gross Profit $1.2B XXX $1.3B XXX XXX XXX
Gross Margin 23% XXX 24% XXX XXX XXX
EBITDA n/a XXX $614M XXX XXX XXX
EBITDA Margin n/a XXX 12% XXX XXX XXX
EBIT $558M XXX $488M XXX XXX XXX
EBIT Margin 10% XXX 9% XXX XXX XXX
Net Profit $283M XXX $307M XXX XXX XXX
Net Margin 5% XXX 6% XXX XXX XXX
Net Debt XXX XXX $949M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Maximus Stock Performance

As of May 30, 2025, Maximus's stock price is $73.

Maximus has current market cap of $4.1B, and EV of $5.6B.

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Maximus Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$5.6B $4.1B XXX XXX XXX XXX $6.37

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Maximus Valuation Multiples

As of May 30, 2025, Maximus has market cap of $4.1B and EV of $5.6B.

Maximus's trades at 1.1x EV/Revenue multiple, and 11.5x EV/EBITDA.

Equity research analysts estimate Maximus's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Maximus has a P/E ratio of 14.5x.

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Maximus Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $4.1B XXX $4.1B XXX XXX XXX
EV (current) $5.6B XXX $5.6B XXX XXX XXX
EV/Revenue 1.0x XXX 1.1x XXX XXX XXX
EV/EBITDA n/a XXX 11.5x XXX XXX XXX
EV/EBIT 10.0x XXX 11.1x XXX XXX XXX
EV/Gross Profit 4.5x XXX n/a XXX XXX XXX
P/E 14.5x XXX 13.7x XXX XXX XXX
EV/FCF 14.0x XXX 20.9x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Maximus Margins & Growth Rates

Maximus's last 12 month revenue growth is 3%

Maximus's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $19K for the same period.

Maximus's rule of 40 is 12% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Maximus's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Maximus Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 3% XXX -8% XXX XXX XXX
EBITDA Margin n/a XXX n/a XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 12% XXX n/a XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX $0.1M XXX XXX XXX
Opex per Employee XXX XXX $19K XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 14% XXX XXX XXX

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Maximus Public Comps

See public comps and valuation multiples for Business Consulting comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Almunda Professionals XXX XXX XXX XXX XXX XXX
Appen XXX XXX XXX XXX XXX XXX
RPMGlobal XXX XXX XXX XXX XXX XXX
Bluebik Group XXX XXX XXX XXX XXX XXX
Business Online XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Maximus M&A and Investment Activity

Maximus acquired  XXX companies to date.

Last acquisition by Maximus was  XXXXXXXX, XXXXX XXXXX XXXXXX . Maximus acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Maximus

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Maximus

When was Maximus founded? Maximus was founded in 1975.
Where is Maximus headquartered? Maximus is headquartered in United States of America.
How many employees does Maximus have? As of today, Maximus has 41.1K+ employees.
Who is the CEO of Maximus? Maximus's CEO is Mr. Bruce L. Caswell.
Is Maximus publicy listed? Yes, Maximus is a public company listed on NYS.
What is the stock symbol of Maximus? Maximus trades under MMS ticker.
When did Maximus go public? Maximus went public in 1997.
Who are competitors of Maximus? Similar companies to Maximus include e.g. Almunda Professionals, Appen, RPMGlobal, Bluebik Group.
What is the current market cap of Maximus? Maximus's current market cap is $4.1B
What is the current revenue of Maximus? Maximus's last 12 months revenue is $5.3B.
What is the current revenue growth of Maximus? Maximus revenue growth (NTM/LTM) is 3%.
What is the current EV/Revenue multiple of Maximus? Current revenue multiple of Maximus is 1.0x.
Is Maximus profitable? Yes, Maximus is EBITDA-positive (as of the last 12 months).
What is the current FCF of Maximus? Maximus's last 12 months FCF is $401M.
What is Maximus's FCF margin? Maximus's last 12 months FCF margin is 8%.
What is the current EV/FCF multiple of Maximus? Current FCF multiple of Maximus is 14.0x.

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