Maximus, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.43B | $5.31B | $4.90B | $4.63B | $4.25B | $3.46B | $2.89B | $2.39B |
| Cost of Revenue | $4.10B | $4.05B | $3.88B | $3.69B | $3.31B | $2.75B | $2.22B | $1.80B |
| Gross Profit | $1.33B | $1.25B | $1.03B | $939.8M | $947.0M | $711.0M | $671.2M | $594.4M |
| Gross Margin | 24.6% | 23.6% | 21.0% | 20.3% | 22.3% | 20.5% | 23.2% | 24.8% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $713.1M | $671.6M | $639.2M | $534.5M | $494.1M | $387.1M | $321.0M | $285.2M |
| Operating Income | $528.3M | $488.5M | $294.8M | $325.9M | $408.5M | $288.3M | $317.1M | $295.5M |
| Operating Margin | 9.7% | 9.2% | 6.0% | 7.0% | 9.6% | 8.3% | 11.0% | 12.4% |
| Interest Expense | — | — | — | — | — | $2.1M | $3.0M | $1.0M |
| Pretax Income | $444.8M | $406.5M | $210.3M | $277.1M | $383.7M | $287.1M | $317.3M | $299.2M |
| Income Tax Expense | $125.8M | $99.6M | $48.5M | $73.3M | $92.5M | $72.6M | $76.8M | $78.4M |
| Net Income | $319.0M | $306.9M | $161.8M | $203.8M | $291.2M | $214.5M | $240.8M | $220.8M |
| Net Margin | 5.9% | 5.8% | 3.3% | 4.4% | 6.8% | 6.2% | 8.3% | 9.2% |
| EPS (Basic) | $5.56 | $5.03 | $2.65 | $3.30 | $4.69 | $3.40 | $3.73 | $3.37 |
| EPS (Diluted) | $5.51 | $4.99 | $2.63 | $3.29 | $4.67 | $3.39 | $3.72 | $3.35 |
| Shares Outstanding (Basic) | 57.4M | 61.0M | 61.1M | 61.8M | 62.1M | 63.1M | 64.5M | 65.5M |
| Shares Outstanding (Diluted) | 57.9M | 61.5M | 61.5M | 62.0M | 62.4M | 63.3M | 64.8M | 65.9M |
| Dividends Per Share | $1.20 | $1.20 | $1.12 | $1.12 | $1.12 | $1.12 | $1.00 | $0.18 |