MAXIMUS, INC. Earnings Per Share Disclosure
| Table 5: Weighted Average Number of Shares - Earnings Per Share | |||||||||||||||||
| For the Year Ended September 30, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| (in thousands) | |||||||||||||||||
| Basic weighted average shares outstanding | 57,413 | 61,049 | 61,125 | ||||||||||||||
| Dilutive effect of unvested RSUs and PSUs | 508 | 435 | 325 | ||||||||||||||
| Denominator for diluted earnings per share | 57,921 | 61,484 | 61,450 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Nov 20, 2025 | Showing above |
| 2024 | Nov 21, 2024 | |
| 2023 | Nov 16, 2023 | |
| 2022 | Nov 22, 2022 | |
| 2021 | Nov 18, 2021 | |
| 2020 | Nov 19, 2020 | |
| 2019 | Nov 26, 2019 | |
| 2018 | Nov 20, 2018 | |
| 2017 | Nov 20, 2017 | |
| 2016 | Nov 21, 2016 | |
| 2015 | Nov 16, 2015 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.