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MAXIMUS, INC.（MMS）与OPEN TEXT CORP（OTEX）财务数据对比。点击上方公司名可切换其他公司
MAXIMUS, INC.的季度营收约是OPEN TEXT CORP的1.0倍（$1.3B vs $1.3B），OPEN TEXT CORP净利率更高（12.7% vs 7.0%，领先5.7%），OPEN TEXT CORP同比增速更快（-0.6% vs -4.1%），OPEN TEXT CORP自由现金流更多（$279.4M vs $-250.7M），过去两年MAXIMUS, INC.的营收复合增速更高（-0.1% vs -4.3%）
MAXIMUS是美国一家政府服务企业，业务覆盖美国、加拿大、英国等国家，为医疗补助、联邦医疗保险、医改、就业帮扶、学生贷款服务等各类政府项目提供行政及配套服务。公司总部位于弗吉尼亚州泰森斯，现有员工3.96万名，2024财年营收达53亿美元。
Open Text Corporation是全球知名的跨国软件企业，专注于信息管理类软件的研发与销售，业务覆盖全球众多国家和地区，可为各行业客户提供成熟的信息管理解决方案，助力企业高效管理数据资产，推进数字化转型落地。
MMS vs OTEX — 直观对比
营收规模更大
MMS
是对方的1.0倍
$1.3B
营收增速更快
OTEX
高出3.5%
-4.1%
净利率更高
OTEX
高出5.7%
7.0%
自由现金流更多
OTEX
多$530.1M
$-250.7M
两年增速更快
MMS
近两年复合增速
-4.3%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $93.9M | $168.1M |
| 毛利率 | 23.7% | 74.0% |
| 营业利润率 | 10.9% | 22.0% |
| 净利率 | 7.0% | 12.7% |
| 营收同比 | -4.1% | -0.6% |
| 净利润同比 | 128.0% | -26.9% |
| 每股收益（稀释后） | $1.70 | $0.66 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MMSOTEX
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.3B | $1.4B | ||
| Q1 24 | $1.3B | $1.4B |
净利润MMSOTEX
| Q4 25 | $93.9M | $168.1M | ||
| Q3 25 | $75.3M | $146.6M | ||
| Q2 25 | $106.0M | $28.8M | ||
| Q1 25 | $96.6M | $92.8M | ||
| Q4 24 | $41.2M | $229.9M | ||
| Q3 24 | $72.5M | $84.4M | ||
| Q2 24 | $89.8M | $248.2M | ||
| Q1 24 | $80.5M | $98.3M |
毛利率MMSOTEX
| Q4 25 | 23.7% | 74.0% | ||
| Q3 25 | 25.3% | 72.8% | ||
| Q2 25 | 26.7% | 72.3% | ||
| Q1 25 | 24.9% | 71.6% | ||
| Q4 24 | 21.5% | 73.3% | ||
| Q3 24 | 22.9% | 71.7% | ||
| Q2 24 | 25.3% | 72.5% | ||
| Q1 24 | 23.6% | 73.0% |
营业利润率MMSOTEX
| Q4 25 | 10.9% | 22.0% | ||
| Q3 25 | 9.3% | 21.0% | ||
| Q2 25 | 12.3% | 13.9% | ||
| Q1 25 | 11.2% | 16.7% | ||
| Q4 24 | 6.2% | 22.2% | ||
| Q3 24 | 8.5% | 16.3% | ||
| Q2 24 | 10.8% | 14.2% | ||
| Q1 24 | 9.5% | 15.7% |
净利率MMSOTEX
| Q4 25 | 7.0% | 12.7% | ||
| Q3 25 | 5.7% | 11.4% | ||
| Q2 25 | 7.9% | 2.2% | ||
| Q1 25 | 7.1% | 7.4% | ||
| Q4 24 | 2.9% | 17.2% | ||
| Q3 24 | 5.5% | 6.6% | ||
| Q2 24 | 6.8% | 18.2% | ||
| Q1 24 | 6.0% | 6.8% |
每股收益（稀释后）MMSOTEX
| Q4 25 | $1.70 | $0.66 | ||
| Q3 25 | $1.27 | $0.58 | ||
| Q2 25 | $1.86 | $0.11 | ||
| Q1 25 | $1.69 | $0.35 | ||
| Q4 24 | $0.69 | $0.87 | ||
| Q3 24 | $1.18 | $0.32 | ||
| Q2 24 | $1.46 | $0.91 | ||
| Q1 24 | $1.31 | $0.36 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $137.6M | $1.3B |
| 总债务越低越好 | — | $6.4B |
| 股东权益账面价值 | $1.7B | $4.0B |
| 总资产 | $4.2B | $13.6B |
| 负债/权益比越低杠杆越低 | — | 1.58× |
8季度趋势，按日历期对齐
现金及短期投资MMSOTEX
| Q4 25 | $137.6M | $1.3B | ||
| Q3 25 | $222.4M | $1.1B | ||
| Q2 25 | $59.8M | $1.2B | ||
| Q1 25 | $108.1M | $1.3B | ||
| Q4 24 | $72.7M | $1.1B | ||
| Q3 24 | $183.1M | $1.0B | ||
| Q2 24 | $102.8M | $1.3B | ||
| Q1 24 | $77.4M | $1.1B |
总债务MMSOTEX
| Q4 25 | — | $6.4B | ||
| Q3 25 | — | $6.4B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.4B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.4B | ||
| Q1 24 | — | $8.4B |
股东权益MMSOTEX
| Q4 25 | $1.7B | $4.0B | ||
| Q3 25 | $1.7B | $4.0B | ||
| Q2 25 | $1.8B | $3.9B | ||
| Q1 25 | $1.7B | $4.1B | ||
| Q4 24 | $1.6B | $4.2B | ||
| Q3 24 | $1.8B | $4.1B | ||
| Q2 24 | $1.8B | $4.2B | ||
| Q1 24 | $1.8B | $4.1B |
总资产MMSOTEX
| Q4 25 | $4.2B | $13.6B | ||
| Q3 25 | $4.1B | $13.5B | ||
| Q2 25 | $4.5B | $13.8B | ||
| Q1 25 | $4.2B | $13.8B | ||
| Q4 24 | $4.1B | $13.7B | ||
| Q3 24 | $4.1B | $13.8B | ||
| Q2 24 | $4.0B | $14.2B | ||
| Q1 24 | $4.0B | $16.4B |
负债/权益比MMSOTEX
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.62× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.51× | ||
| Q3 24 | — | 1.55× | ||
| Q2 24 | — | 1.52× | ||
| Q1 24 | — | 2.02× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-244.4M | $318.7M |
| 自由现金流经营现金流 - 资本支出 | $-250.7M | $279.4M |
| 自由现金流率自由现金流/营收 | -18.6% | 21.1% |
| 资本支出强度资本支出/营收 | 0.5% | 3.0% |
| 现金转化率经营现金流/净利润 | -2.60× | 1.90× |
| 过去12个月自由现金流最近4个季度 | $218.5M | $878.5M |
8季度趋势，按日历期对齐
经营现金流MMSOTEX
| Q4 25 | $-244.4M | $318.7M | ||
| Q3 25 | $649.4M | $147.8M | ||
| Q2 25 | $-182.7M | $158.2M | ||
| Q1 25 | $42.7M | $402.2M | ||
| Q4 24 | $-80.0M | $348.0M | ||
| Q3 24 | $163.8M | $-77.8M | ||
| Q2 24 | $199.3M | $185.2M | ||
| Q1 24 | $130.5M | $384.7M |
自由现金流MMSOTEX
| Q4 25 | $-250.7M | $279.4M | ||
| Q3 25 | $641.8M | $101.2M | ||
| Q2 25 | $-198.2M | $124.0M | ||
| Q1 25 | $25.5M | $373.8M | ||
| Q4 24 | $-103.0M | $306.7M | ||
| Q3 24 | $131.9M | $-117.1M | ||
| Q2 24 | $164.6M | $145.2M | ||
| Q1 24 | $105.2M | $348.2M |
自由现金流率MMSOTEX
| Q4 25 | -18.6% | 21.1% | ||
| Q3 25 | 48.7% | 7.9% | ||
| Q2 25 | -14.7% | 9.5% | ||
| Q1 25 | 1.9% | 29.8% | ||
| Q4 24 | -7.3% | 23.0% | ||
| Q3 24 | 10.0% | -9.2% | ||
| Q2 24 | 12.5% | 10.7% | ||
| Q1 24 | 7.8% | 24.1% |
资本支出强度MMSOTEX
| Q4 25 | 0.5% | 3.0% | ||
| Q3 25 | 0.6% | 3.6% | ||
| Q2 25 | 1.1% | 2.6% | ||
| Q1 25 | 1.3% | 2.3% | ||
| Q4 24 | 1.6% | 3.1% | ||
| Q3 24 | 2.4% | 3.1% | ||
| Q2 24 | 2.6% | 2.9% | ||
| Q1 24 | 1.9% | 2.5% |
现金转化率MMSOTEX
| Q4 25 | -2.60× | 1.90× | ||
| Q3 25 | 8.63× | 1.01× | ||
| Q2 25 | -1.72× | 5.49× | ||
| Q1 25 | 0.44× | 4.33× | ||
| Q4 24 | -1.94× | 1.51× | ||
| Q3 24 | 2.26× | -0.92× | ||
| Q2 24 | 2.22× | 0.75× | ||
| Q1 24 | 1.62× | 3.91× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MMS
| Clinical Services | $523.7M | 39% |
| Cost Plus Contracts | $386.4M | 29% |
| Outside The United States | $143.2M | 11% |
| International Government Agencies | $141.0M | 10% |
| Technology Solutions | $74.8M | 6% |
| Employment And Other | $70.2M | 5% |
| Other Including Local Municipalities And Commercial Customers | $17.6M | 1% |
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
