MAXIMUS, INC. (MMS)

Services-Business Services, NEC

Latest Price

$58.18

TTM P/E

8.66

Normalized P/E

12.81

Div Yield

2.17%

Book Value

32.93

P/B Ratio

1.77

Valuation metrics

EPS: $5.51

Book value / share: $30.55

Formula: √(22.5 × EPS × BVPS)

Graham Number

$61.54

+6% upside

Norm. op. income: $326M (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$25.57

56% downside

Base FCF: $366M (median of recent 5yr)

Growth: -4%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$38.70

33% downside

EPS: $5.51

Target P/E: 13×

Formula: EPS × P/E

P/E Fair Value

$71.63

+23% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	7.44M	$400.0M	14.22%	-75.7K	2026-06-30
FMR LLC	5.54M	$298.0M	10.59%	-2.63M	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	3.39M	$182.0M	6.47%	-83.1K	2026-06-30
FULLER & THALER ASSET MANAGEMENT, INC.	2.70M	$145.0M	5.16%	+621.2K	2026-06-30
STATE STREET CORP	2.57M	$137.0M	4.90%	+107.1K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	2.37M	$127.0M	4.52%	-71.5K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	2.35M	$126.0M	4.50%	+246.8K	2026-06-30
REINHART PARTNERS, LLC.	1.98M	$106.0M	3.79%	+1.13M	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	1.58M	$84.0M	3.01%	+79.4K	2026-06-30
Van Berkom & Associates Inc.	1.09M	$58.0M	2.08%	-84.1K	2026-06-30