← MAXIMUS, INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $203.8m | $161.8m | $306.9m | $319.0m | |
| Net Income (Loss) Attributable to Parent | $178.4m | $209.4m | $220.8m | $240.8m | $214.5m | $291.2m | $203.8m | $161.8m | $306.9m | $319.0m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $180.2m | $212.2m | $220.8m | $240.5m | $214.5m | $291.2m | $203.8m | $161.8m | $306.9m | — | |
| Depreciation and amortization | $58.4m | $55.8m | $51.9m | $52.4m | $64.5m | $46.4m | $42.3m | $54.7m | $34.0m | $41.7m | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | $0 | $0 | $865k | $3.0m | $2.8m | $3.5m | $2.8m | |
| Amortization of Intangible Assets | $13.4m | $12.2m | $10.3m | $33.1m | $35.6m | $44.4m | $90.5m | $94.6m | $91.6m | $92.0m | |
| Capitalized Computer Software, Amortization | $9.2m | $10.6m | $11.2m | $7.2m | $9.6m | $12.3m | $14.1m | $26.3m | $14.8m | $22.2m | |
| Depreciation | $49.2m | $45.2m | $40.7m | $45.2m | $54.9m | $34.1m | $28.3m | $28.4m | $19.2m | $19.5m | |
| Amortization Cash Flow | — | — | — | — | — | — | $90.5m | $94.6m | $91.6m | $92.0m | |
| Amortization Of Intangibles | — | — | — | — | — | — | $90.5m | $94.6m | $91.6m | $92.0m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $132.8m | $149.3m | $125.5m | $133.7m | |
| Deferred Income Tax Expense (Benefit) | $5.7m | $4.8m | $6.7m | $12.7m | ($19.1m) | ($6.6m) | $10.2m | $1.6m | ($36.0m) | ($16.7m) | |
| Deferred Income Tax | — | — | — | — | — | — | $10.2m | $1.6m | ($36.0m) | ($16.7m) | |
| Deferred Tax | — | — | — | — | — | — | $10.2m | $1.6m | ($36.0m) | ($16.7m) | |
| Share-based Payment Arrangement, Noncash Expense | $18.8m | $21.4m | $20.2m | $20.8m | $23.7m | $28.6m | $30.5m | $29.5m | $35.3m | $41.2m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $11.6m | $9.2m | $8.5m | $8.9m | $10.6m | $9.8m | $9.7m | $8.5m | $13.5m | $16.5m | |
| Share-based Payment Arrangement, Expense | — | — | — | — | — | $28.6m | $30.5m | $29.5m | $35.3m | $41.2m | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | — | — | $0 | $0 | $0 | $0 | $0 | |
| Gain (Loss) on Disposition of Business | $6.9m | $650k | $0 | $0 | $1.7m | $0 | $0 | ($883k) | ($1.0m) | ($39.5m) | |
| Income Tax Expense (Benefit) | $105.8m | $102.1m | $78.4m | $76.8m | $72.6m | $92.5m | $73.3m | $48.5m | $99.6m | $125.8m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $82.4m | $84.1m | |
| Other Nonoperating Income (Expense) | $3.5m | $2.9m | $4.7m | $3.2m | $843k | ($10.1m) | ($2.8m) | ($363k) | $450k | $640k | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $52.0m | ($53.0m) | ($34.0m) | $60.3m | $141.8m | ($38.6m) | ($14.1m) | $23.4m | $50.6m | $31.9m | |
| Gain (Loss) on Sale of Properties | — | — | — | — | — | — | $11.0m | $0 | $0 | — | |
| Goodwill | $397.6m | $403.0m | $399.9m | $584.5m | $593.1m | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | |
| Payments of Financing Costs | — | — | — | $0 | $0 | $23.2m | $0 | $0 | $9.7m | $1.7m | |
| Proceeds from Stock Options Exercised | $546k | $924k | $0 | $0 | — | — | — | — | — | — | |
| Beginning Cash Position | — | — | — | — | — | — | $156.6m | $136.8m | $122.1m | $235.8m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($248.3m) | ($250.8m) | ($275.6m) | ($343.9m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($54.0m) | ($81.0m) | ($129.1m) | ($60.3m) | |
| Change In Account Payable | — | — | — | — | — | — | ($32.7m) | $17.7m | $18.3m | ($7.5m) | |
| Change In Accrued Expense | — | — | — | — | — | — | $3.3m | $12.7m | $38.2m | $12.2m | |
| Change In Other Working Capital | — | — | — | — | — | — | ($57.4m) | ($39.4m) | $62.4m | ($49.3m) | |
| Change In Payable | — | — | — | — | — | — | ($32.7m) | $17.7m | $18.3m | ($7.5m) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | ($29.4m) | $30.4m | $56.5m | $4.7m | |
| Change In Prepaid Assets | — | — | — | — | — | — | ($6.7m) | $859k | $10.6m | ($13.8m) | |
| Change In Receivables | — | — | — | — | — | — | $14.1m | ($23.4m) | ($50.6m) | ($31.9m) | |
| Change In Working Capital | — | — | — | — | — | — | ($79.4m) | ($31.6m) | $78.9m | ($90.2m) | |
| Changes In Account Receivables | — | — | — | — | — | — | $14.1m | ($23.4m) | ($50.6m) | ($31.9m) | |
| Changes In Cash | — | — | — | — | — | — | ($12.4m) | ($17.4m) | $110.5m | $25.2m | |
| End Cash Position | — | — | — | — | — | — | $136.8m | $122.1m | $235.8m | $260.5m | |
| Financing Cash Flow | — | — | — | — | — | — | ($248.3m) | ($250.8m) | ($275.6m) | ($343.9m) | |
| Free Cash Flow | — | — | — | — | — | — | $233.7m | $223.6m | $401.1m | $366.2m | |
| Gain Loss On Sale Of Business | — | — | — | — | — | — | $0 | $883k | $1.0m | $39.5m | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | $0 | ($11.0m) | $0 | $0 | — | |
| Investing Cash Flow | — | — | — | — | — | — | ($54.0m) | ($81.0m) | ($129.1m) | ($60.3m) | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($14.3m) | $9.7m | $3.1m | $5.1m | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($39.7m) | ($90.7m) | ($114.2m) | ($63.2m) | |
| Operating Gains Losses | — | — | — | — | — | — | ($11.0m) | $883k | $1.0m | $39.5m | |
| Other Non Cash Items | — | — | — | — | — | — | $3.0m | $2.8m | $3.5m | $2.8m | |
| Purchase Of Business | — | — | — | — | — | ($1.8b) | ($14.3m) | $0 | $0 | — | |
| Purchase Of PPE | — | — | — | — | $40.7m | $36.6m | ($56.1m) | ($90.7m) | ($114.2m) | ($63.2m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($96.1m) | $0 | ($73.1m) | ($447.5m) | |
| Sale Of Business | — | — | — | — | — | — | $0 | $9.7m | $3.1m | $5.1m | |
| Sale Of PPE | — | — | — | — | — | $0 | $16.4m | $0 | $0 | — | |
| Stock Based Compensation | — | — | — | — | — | — | $30.5m | $29.5m | $35.3m | $41.2m | |
| Net Cash Provided by (Used in) Operating Activities | $180.0m | $337.2m | $323.5m | $356.7m | $244.6m | $517.3m | $289.8m | $314.3m | $515.3m | $429.4m | |
| Cash flows from investing activities: | |||||||||||
| Capital Expenditure | — | — | — | — | — | — | ($56.1m) | ($90.7m) | ($114.2m) | ($63.2m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | $46.7m | $2.7m | $0 | $436.8m | $7.1m | $1.8b | $14.3m | $0 | $0 | — | |
| Payments for (Proceeds from) Other Investing Activities | ($424k) | ($575k) | ($369k) | ($453k) | ($385k) | $0 | $0 | — | — | $2.2m | |
| Net Other Investing Changes | — | — | — | — | — | — | — | — | ($18.0m) | ($2.2m) | |
| Net Cash Provided by (Used in) Investing Activities | ($87.1m) | ($25.2m) | ($46.3m) | ($483.9m) | ($44.1m) | ($1.8b) | ($54.0m) | ($81.0m) | ($129.1m) | ($60.3m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $149.8m | $185.0m | $136.6m | $414.7m | $638.0m | $2.3b | $615.0m | — | — | — | |
| Issuance Of Debt | — | — | — | — | — | — | $615.0m | $844.3m | $1.1b | $1.5b | |
| Long Term Debt Issuance | — | — | — | — | — | — | $615.0m | $844.3m | $1.1b | $1.5b | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($155.7m) | ($108.7m) | ($112.0m) | $201.4m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($155.7m) | ($108.7m) | ($112.0m) | $201.4m | |
| Repayments of Long-term Debt | $195.2m | $350.0m | $136.8m | $405.1m | $619.4m | $824.5m | $770.7m | — | — | — | |
| Long Term Debt Payments | — | — | — | — | — | — | ($770.7m) | ($953.0m) | ($1.2b) | ($1.3b) | |
| Repayment Of Debt | — | — | — | — | — | — | ($770.7m) | ($953.0m) | ($1.2b) | ($1.3b) | |
| Net Common Stock Issuance | — | — | — | — | — | — | ($96.1m) | $0 | ($73.1m) | ($447.5m) | |
| Payments for Repurchase of Common Stock | $33.3m | $28.9m | $66.9m | $47.4m | $167.0m | $3.4m | $96.1m | $0 | $73.1m | $447.5m | |
| Common Stock Payments | — | — | — | — | — | — | ($96.1m) | $0 | ($73.1m) | ($447.5m) | |
| Cash Dividends Paid | — | — | — | — | — | — | ($68.7m) | ($68.1m) | ($72.9m) | ($68.7m) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($68.7m) | ($68.1m) | ($72.9m) | ($68.7m) | |
| Proceeds from (Payments for) Other Financing Activities | ($533k) | ($1.7m) | ($4.6m) | ($133k) | ($965k) | ($2.7m) | $83.3m | $0 | — | ($10.9m) | |
| Net Other Financing Charges | — | — | — | — | — | — | $72.2m | ($74.0m) | ($17.6m) | ($29.0m) | |
| Net Cash Provided by (Used in) Financing Activities | ($96.8m) | ($215.4m) | ($91.9m) | ($110.9m) | ($230.1m) | $1.4b | ($248.3m) | ($250.8m) | ($275.6m) | ($343.9m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $3.7m | ($2.8m) | ($2.1m) | $1.7m | $474k | ($7.3m) | $2.7m | $3.2m | ($538k) | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | — | ($7.3m) | $2.7m | $3.2m | ($538k) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $3.7m | ($2.8m) | ($240.1m) | ($27.9m) | $68.0m | ($19.8m) | ($14.7m) | $113.7m | $24.7m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $3.7m | ($2.8m) | $116.5m | $88.6m | $156.6m | $136.8m | $122.1m | $235.8m | $260.5m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($19.8m) | ($14.7m) | $113.7m | $24.7m | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | $2.5m | $1.6m | $14.5m | $43.1m | $81.1m | $79.0m | $82.6m | |
| Income Taxes Paid, Net | — | — | — | — | — | — | $76.0m | $61.0m | $99.7m | $149.9m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.