Maximus, Inc. (MMS)

Maximus, Inc. (MMS) is a leading provider of government services, managing large-scale public programs such as Medicaid, Medicare, and student loan servicing. Led by CEO Bruce Caswell, Maximus’ mission is to "Help government serve the people" through operational excellence and digital transformation. The company holds a dominant industry position as the primary partner for both U.S. Federal and State agencies. By late 2025, MMS stock has been driven by a 12% surge in its "U.S. Federal Services" segment, making it a primary play on "Government Outsourcing" and "Clinical Assessments." Its vision is to integrate AI into every public service touchpoint to improve citizen outcomes and reduce costs.

The business operations of Maximus are divided into U.S. Federal Services, U.S. Services (State), and Outside the U.S. The core growth driver in 2025 has been the "Federal Clinical Expansion," where the company saw record demand for health-related assessments for veterans and federal employees. In fiscal 2025, MMS reported total revenue of $5.43 billion and an expanded adjusted EBITDA margin of 12.9%. The 2026 strategic roadmap focuses on "The AI-First Delivery Model," aiming to use its "First-Mover Advantage in AI" to automate 30% of citizen inquiries. By utilizing its "Contractual Stability Moat"—where it maintains a 95%+ client retention rate—Maximus ensures highly predictable cash flows. This "Budgetary Resilience" is a primary driver for the MMS stock price. The company’s move to divest volatile international assets has also simplified its profile, providing a cleaner investment narrative for MMS stock holders.