secwatch.observer — SEC 8-K summary
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Issuer:     MAXIMUS, INC. (MMS)
CIK:        0001032220
Form:       8-K
Filed at:   2025-11-20T23:59:59+00:00
Accession:  0001032220-25-000049
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Maximus FY2025 revenue $5.43B (+2.4%), adj. EPS $7.36; FY2026 guidance adj. EPS $7.95-$8.25, rev $5.225B-$5.425B
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- Full year revenue $5.43B (+2.4% YoY); organic growth 3.9% driven by U.S. Federal clinical programs.
- Full year adjusted diluted EPS $7.36 (vs $6.11 prior); operating margin expanded to 9.7% (prior 9.2%).
- Free cash flow $366M; share repurchases of 5.8M shares for $457M; leverage ratio 1.5x at Sep 30, 2025.
- FY2026 guidance: revenue $5.225B-$5.425B, adjusted EBITDA margin ~13.7%, adjusted EPS $7.95-$8.25, FCF $450M-$500M.
- U.S. Federal Services revenue +12.1% to $3.07B, margin 15.3%; U.S. Services -7.7% to $1.76B on Medicaid unwinding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1032220/000103222025000049/0001032220-25-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1032220/000103222025000049/mms-20251120.htm
  HTML page:      https://secwatch.observer/filing/0001032220-25-000049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer