Is MAXIMUS, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for MAXIMUS, Inc. has moved from attractive to fair, indicating a shift in its perceived value. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 13, an EV to EBITDA of 8.13, and a PEG ratio of 0.35. In comparison to peers, Genpact Ltd. has a P/E of 14.38, while ADT, Inc. shows a more attractive P/E of 10.02, suggesting that MAXIMUS is positioned competitively within its industry.
Despite a fair valuation, MAXIMUS has underperformed against the S&P 500 in recent periods, with a 1-year return of -5.29% compared to the index's 14.08%. This trend is further emphasized over longer periods, where MAXIMUS's 3-year return of 47.47% lags behind the S&P 500's 81.19%, indicating potential concerns about its growth prospects relative to the broader market.