What is Maximus's net debt?

Maximus (MMS) reported net debt of $1.47B in Q1 2026.

How has Maximus's net debt changed year-over-year?

Maximus's net debt decreased by 2.8% year-over-year, from $1.51B to $1.47B.

What is the long-term trend for Maximus's net debt?

Over 5 years (2020 to 2025), Maximus's net debt has grown at a 53.8% compound annual growth rate (CAGR), from $141.92M to $1.22B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Maximus MMS Net debt

Discontinued — last reported Q2 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Carter'sCRI

3.6×+0.8×

HarmonicHLIT

0.1×-2.0×

Other financials

Income statement

See full

Revenue$1.3B-4.1%

Gross profit$342.3M+1.0%

Operating income$148.5M-2.9%

Net income$98.1M+1.5%

EPS (diluted)$1.80+6.5%

Balance sheet

See full

Cash & equivalents$157.5M+45.7%

Total debt$1.6B+0.5%

Total equity$1.7B+1.8%

Total assets$4.2B+0.9%

Cash flow

See full

Operating cash flow-$244.4M-206%

CapEx$10.5M-38.9%

Free cash flow-$250.7M-143%

Valuation

See full

Market cap$2.94B-9.4%

Enterprise value$4.41B-7.5%

P/E7.9×-2.9×

P/S0.6×0.0×

Profitability

See full

Gross margin25.5%+1.8pp

Operating margin11%+1.8pp

Net margin7%+1.5pp

FCF margin4.1%-1.5pp

Returns & leverage

See full

Return on equity22.2%+4.8pp

Debt / equity1×0.0×

Current ratio2.2×+0.4×

Where this comes from

Calculated from Maximus’s reported figures.

$1.6Btotal debt−$157.5Mcash and equivalents=$1.47B

The official record: Maximus’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Maximus's net debt?: Maximus (MMS) reported net debt of $1.47B in Q1 2026.
How has Maximus's net debt changed year-over-year?: Maximus's net debt decreased by 2.8% year-over-year, from $1.51B to $1.47B.
What is the long-term trend for Maximus's net debt?: Over 5 years (2020 to 2025), Maximus's net debt has grown at a 53.8% compound annual growth rate (CAGR), from $141.92M to $1.22B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.