Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.40B | $2.45B | $2.39B | $2.89B | $3.46B | $4.25B | $4.63B | $4.90B | $5.31B | $5.43B |
| Revenue growth | — | 2.0% | -2.4% | 20.7% | 19.9% | 22.9% | 8.9% | 5.9% | 8.2% | 2.4% |
| Gross profit | $562M | $612M | $594M | $671M | $711M | $947M | $940M | $1.03B | $1.25B | $1.33B |
| Gross margin | 23.4% | 25.0% | 24.8% | 23.2% | 20.5% | 22.3% | 20.3% | 21.0% | 23.6% | 24.6% |
| Operating income | $287M | $314M | $295M | $317M | $288M | $409M | $326M | $295M | $488M | $528M |
| Operating margin | 11.9% | 12.8% | 12.4% | 11.0% | 8.3% | 9.6% | 7.0% | 6.0% | 9.2% | 9.7% |
| Net income | $178M | $209M | $221M | $241M | $215M | $291M | $204M | $162M | $307M | $319M |
| Net margin | 7.4% | 8.5% | 9.2% | 8.3% | 6.2% | 6.8% | 4.4% | 3.3% | 5.8% | 5.9% |
| EPS (diluted) | $2.69 | $3.17 | $3.35 | $3.72 | $3.39 | $4.67 | $3.29 | $2.63 | $4.99 | $5.51 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $180M | $336M | $317M | $357M | $245M | $517M | $290M | $314M | $515M | $429M |
| Capital expenditures | — | — | $26.5M | $66.8M | $40.7M | $36.6M | $56.1M | $90.7M | $114M | $63.2M |
| Free cash flow | — | — | $290M | $290M | $204M | $481M | $234M | $224M | $401M | $366M |
| Share buybacks | $33.3M | $28.9M | $66.9M | $47.4M | $167M | $3.36M | $96.1M | $0.00 | $73.1M | $447M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $66.2M | $166M | $349M | $106M | $71.7M | $135M | $40.7M | $65.4M | $183M | $222M |
| Total assets | $1.35B | $1.35B | $1.46B | $1.75B | $2.02B | $4.12B | $3.99B | $3.99B | $4.13B | $4.07B |
| Total liabilities | $596M | $405M | $376M | $498M | $783M | $2.64B | $2.44B | $2.32B | $2.29B | $2.40B |
| Long-term debt | $165M | $527K | — | $231K | $18.0M | $1.43B | $1.29B | $1.16B | $1.09B | $1.28B |
| Shareholders' equity | $749M | $940M | $1.08B | $1.25B | $1.24B | $1.48B | $1.55B | $1.67B | $1.84B | $1.67B |
| Retained earnings | $324M | $492M | $633M | $795M | $770M | $988M | $1.03B | $1.12B | $1.28B | $1.06B |
| Shares (wtd avg diluted) | 66.2M | 66.1M | 65.9M | 64.8M | 63.3M | 62.4M | 62.0M | 61.5M | 61.5M | 57.9M |
Every figure is extracted from MAXIMUS, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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