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MAXIMUS, INC.（MMS）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
Toast, Inc.的季度营收约是MAXIMUS, INC.的1.2倍（$1.6B vs $1.3B），MAXIMUS, INC.净利率更高（7.0% vs 6.2%，领先0.8%），Toast, Inc.同比增速更快（22.0% vs -4.1%），Toast, Inc.自由现金流更多（$178.0M vs $-250.7M），过去两年Toast, Inc.的营收复合增速更高（23.3% vs -0.1%）
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。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
MMS vs TOST — 直观对比
营收规模更大
TOST
是对方的1.2倍
$1.3B
营收增速更快
TOST
高出26.2%
-4.1%
净利率更高
MMS
高出0.8%
6.2%
自由现金流更多
TOST
多$428.7M
$-250.7M
两年增速更快
TOST
近两年复合增速
-0.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.6B |
| 净利润 | $93.9M | $101.0M |
| 毛利率 | 23.7% | 25.9% |
| 营业利润率 | 10.9% | 5.2% |
| 净利率 | 7.0% | 6.2% |
| 营收同比 | -4.1% | 22.0% |
| 净利润同比 | 128.0% | 215.6% |
| 每股收益（稀释后） | $1.70 | $0.18 |
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MMSTOST
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.1B |
净利润MMSTOST
| Q4 25 | $93.9M | $101.0M | ||
| Q3 25 | $75.3M | $105.0M | ||
| Q2 25 | $106.0M | $80.0M | ||
| Q1 25 | $96.6M | $56.0M | ||
| Q4 24 | $41.2M | $32.0M | ||
| Q3 24 | $72.5M | $56.0M | ||
| Q2 24 | $89.8M | $14.0M | ||
| Q1 24 | $80.5M | $-83.0M |
毛利率MMSTOST
| Q4 25 | 23.7% | 25.9% | ||
| Q3 25 | 25.3% | 26.5% | ||
| Q2 25 | 26.7% | 25.3% | ||
| Q1 25 | 24.9% | 25.9% | ||
| Q4 24 | 21.5% | 24.9% | ||
| Q3 24 | 22.9% | 24.7% | ||
| Q2 24 | 25.3% | 23.0% | ||
| Q1 24 | 23.6% | 23.2% |
营业利润率MMSTOST
| Q4 25 | 10.9% | 5.2% | ||
| Q3 25 | 9.3% | 5.1% | ||
| Q2 25 | 12.3% | 5.2% | ||
| Q1 25 | 11.2% | 3.2% | ||
| Q4 24 | 6.2% | 2.5% | ||
| Q3 24 | 8.5% | 2.6% | ||
| Q2 24 | 10.8% | 0.4% | ||
| Q1 24 | 9.5% | -5.2% |
净利率MMSTOST
| Q4 25 | 7.0% | 6.2% | ||
| Q3 25 | 5.7% | 6.4% | ||
| Q2 25 | 7.9% | 5.2% | ||
| Q1 25 | 7.1% | 4.2% | ||
| Q4 24 | 2.9% | 2.4% | ||
| Q3 24 | 5.5% | 4.3% | ||
| Q2 24 | 6.8% | 1.1% | ||
| Q1 24 | 6.0% | -7.7% |
每股收益（稀释后）MMSTOST
| Q4 25 | $1.70 | $0.18 | ||
| Q3 25 | $1.27 | $0.16 | ||
| Q2 25 | $1.86 | $0.13 | ||
| Q1 25 | $1.69 | $0.09 | ||
| Q4 24 | $0.69 | $0.09 | ||
| Q3 24 | $1.18 | $0.07 | ||
| Q2 24 | $1.46 | $0.02 | ||
| Q1 24 | $1.31 | $-0.15 |
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 | $1.4B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.7B | $2.1B |
| 总资产 | $4.2B | $3.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MMSTOST
| Q4 25 | $137.6M | $1.4B | ||
| Q3 25 | $222.4M | $1.4B | ||
| Q2 25 | $59.8M | $1.2B | ||
| Q1 25 | $108.1M | $1.0B | ||
| Q4 24 | $72.7M | $903.0M | ||
| Q3 24 | $183.1M | $761.0M | ||
| Q2 24 | $102.8M | $691.0M | ||
| Q1 24 | $77.4M | $578.0M |
股东权益MMSTOST
| Q4 25 | $1.7B | $2.1B | ||
| Q3 25 | $1.7B | $2.0B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $1.7B | $1.7B | ||
| Q4 24 | $1.6B | $1.5B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | $1.8B | $1.3B | ||
| Q1 24 | $1.8B | $1.2B |
总资产MMSTOST
| Q4 25 | $4.2B | $3.1B | ||
| Q3 25 | $4.1B | $3.0B | ||
| Q2 25 | $4.5B | $2.8B | ||
| Q1 25 | $4.2B | $2.6B | ||
| Q4 24 | $4.1B | $2.4B | ||
| Q3 24 | $4.1B | $2.2B | ||
| Q2 24 | $4.0B | $2.2B | ||
| Q1 24 | $4.0B | $2.1B |
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 | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $-250.7M | $178.0M |
| 自由现金流率自由现金流/营收 | -18.6% | 10.9% |
| 资本支出强度资本支出/营收 | 0.5% | 1.0% |
| 现金转化率经营现金流/净利润 | -2.60× | 1.92× |
| 过去12个月自由现金流最近4个季度 | $218.5M | $608.0M |
8季度趋势，按日历期对齐
经营现金流MMSTOST
| Q4 25 | $-244.4M | $194.0M | ||
| Q3 25 | $649.4M | $165.0M | ||
| Q2 25 | $-182.7M | $223.0M | ||
| Q1 25 | $42.7M | $79.0M | ||
| Q4 24 | $-80.0M | $147.0M | ||
| Q3 24 | $163.8M | $109.0M | ||
| Q2 24 | $199.3M | $124.0M | ||
| Q1 24 | $130.5M | $-20.0M |
自由现金流MMSTOST
| Q4 25 | $-250.7M | $178.0M | ||
| Q3 25 | $641.8M | $153.0M | ||
| Q2 25 | $-198.2M | $208.0M | ||
| Q1 25 | $25.5M | $69.0M | ||
| Q4 24 | $-103.0M | $134.0M | ||
| Q3 24 | $131.9M | $97.0M | ||
| Q2 24 | $164.6M | $108.0M | ||
| Q1 24 | $105.2M | $-33.0M |
自由现金流率MMSTOST
| Q4 25 | -18.6% | 10.9% | ||
| Q3 25 | 48.7% | 9.4% | ||
| Q2 25 | -14.7% | 13.4% | ||
| Q1 25 | 1.9% | 5.2% | ||
| Q4 24 | -7.3% | 10.0% | ||
| Q3 24 | 10.0% | 7.4% | ||
| Q2 24 | 12.5% | 8.7% | ||
| Q1 24 | 7.8% | -3.1% |
资本支出强度MMSTOST
| Q4 25 | 0.5% | 1.0% | ||
| Q3 25 | 0.6% | 0.7% | ||
| Q2 25 | 1.1% | 1.0% | ||
| Q1 25 | 1.3% | 0.7% | ||
| Q4 24 | 1.6% | 1.0% | ||
| Q3 24 | 2.4% | 0.9% | ||
| Q2 24 | 2.6% | 1.3% | ||
| Q1 24 | 1.9% | 1.2% |
现金转化率MMSTOST
| Q4 25 | -2.60× | 1.92× | ||
| Q3 25 | 8.63× | 1.57× | ||
| Q2 25 | -1.72× | 2.79× | ||
| Q1 25 | 0.44× | 1.41× | ||
| Q4 24 | -1.94× | 4.59× | ||
| Q3 24 | 2.26× | 1.95× | ||
| Q2 24 | 2.22× | 8.86× | ||
| Q1 24 | 1.62× | — |
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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
