Maximus, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $103.6M | $98.1M | $93.9M | $106.0M | $96.6M | $41.2M | $89.8M | $80.5M |
| Depreciation & Amortization | $11.9M | $12.3M | $12.9M | $9.6M | $9.4M | $8.5M | — | — |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $20.2M | $20.3M | $20.3M | $23.0M | $23.0M | $23.0M | $23.5M | $21.6M |
| Stock-Based Compensation | — | — | $7.0M | — | — | $7.0M | — | — |
| Net Cash from Operating Activities | $-125.0M | $189.5M | $-244.4M | $-182.7M | $42.7M | $-80.0M | $199.3M | $130.5M |
| Investing Activities | ||||||||
| Capital Expenditures | $12.0M | $10.5M | $6.3M | $15.5M | $17.2M | $23.0M | $34.7M | $25.3M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | — | — | $6.6M | — | — | $-22.3M | — | — |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | $40.6M | — | — | $228.6M | — | — |
| Net Cash from Financing Activities | — | — | $156.9M | — | — | $-8.3M | — | — |
| Net Change in Cash | — | — | $-80.9M | — | — | $-112.9M | — | — |
| Free Cash Flow | $-137.0M | $179.0M | $-250.7M | $-198.2M | $25.5M | $-103.0M | $164.6M | $105.2M |