MMS FY 2021 Earnings Report — Maximus, Inc. Revenue & Financial Results | Market Cap Arena

Maximus, Inc.MMS

FY 2021 Earnings

Reported November 18, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$4.3B	—	$3.5B	—	22.9%
Op. Income	$419M	—	$291M	—	44.0%
Gross Margin	21.2%	—	19.5%	—	1.7pp
Net Margin	6.8%	—	6.2%	—	0.6pp
EPS (Diluted)	$4.67	—	$3.39	—	37.8%
Free Cash Flow	$481M	—	$204M	—	135.8%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.4B
GROSS PROFIT	$903M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$483M
Other Expenses	$0
Operating Expenses	$483M
Cost & Expenses	$3.8B
OPERATING INCOME	$419M
Interest Income	$0
Interest Expense	$15M
Other Income/Expenses	-$36M
INCOME BEFORE TAX	$384M
Income Tax Expense	$92M
Net Income from Continuing Ops	$291M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$291M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$291M
D&A	$104M
EBIT	$398M
EBITDA	$503M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.4B
GROSS PROFIT	$903M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$483M
Other Expenses	$0
Operating Expenses	$483M
Cost & Expenses	$3.8B
OPERATING INCOME	$419M
Interest Income	$0
Interest Expense	$15M
Other Income/Expenses	-$36M
INCOME BEFORE TAX	$384M
Income Tax Expense	$92M
Net Income from Continuing Ops	$291M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$291M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$291M
D&A	$104M
EBIT	$398M
EBITDA	$503M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$291M
Depreciation & Amortization	$91M
Stock-Based Compensation	$29M
Deferred Income Tax	-$7M
Other Non-Cash Items	$9M
Change in Working Capital	$104M
OPERATING CASH FLOW	$517M
Capital Expenditure	-$37M
Acquisitions (Net)	-$1.8B
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	$1.5B
Common Stock Repurchased	-$3M
Common Dividends Paid	-$69M
Other Financing Activities	-$36M
NET CASH FROM FINANCING	$1.4B
FREE CASH FLOW	$481M
Net Change in Cash	$68M

Balance Sheet

Item	Amount
Cash & Equivalents	$157M
Short-Term Investments	$0
Net Receivables	$840M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.1B
PP&E (Net)	$242M
Goodwill	$1.8B
Intangible Assets	$922M
Long-Term Investments	$0
Tax Assets	$990.0K
Other Non-Current Assets	$100M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$4.1B
Account Payables	$306M
Short-Term Debt	$157M
Deferred Revenue	$99M
Other Current Liabilities	$35M
TOTAL CURRENT LIABILITIES	$789M
Long-Term Debt	$1.4B
Deferred Revenue NC	$36M
Deferred Tax Liabilities	$195M
Other Non-Current Liabilities	$68M
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$2.6B
Common Stock	$532M
Additional Paid-In Capital	$0
Retained Earnings	$988M
Treasury Stock	$0
Accum. Other Comp. Income	-$40M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$4.1B
Total Debt	$1.7B
Net Debt	$1.6B