Maximus reported a 2.4% increase in full-year revenue to $5.43 billion for fiscal year 2025, driven by high demand for clinical services in the U.S. Federal Services Segment.
The company achieved a full-year operating margin of 9.7% and adjusted EBITDA margin of 12.9%, reflecting year-over-year margin expansion.
Cash flows from operating activities totaled $429 million, with free cash flow reaching $366 million for the full year.
Revenue Growth
Full-year revenue increased by 2.4% to $5.43 billion, supported by organic growth of 3.9% driven by clinical services demand.
Profitability
Operating margin reached 9.7%, adjusted EBITDA margin was 12.9%, with diluted earnings per share at $5.51 and adjusted EPS at $7.36.
Cash Flow Strength
Strong cash generation with $429 million in operating cash flows and $366 million in free cash flow for fiscal year 2025.
- Maximus prioritizes expansion in U.S. Federal markets for fiscal year 2026, focusing on AI-enabled automation for productivity and growth acceleration.
- The company's strategic focus on clinical programs and technology-driven service delivery led to improved operating margins and enhanced profitability in fiscal 2025.
Maximus's fiscal year 2025 performance showcases revenue growth, margin expansion, and strong cash generation, positioning the company for continued success in fiscal year 2026.