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Shift4 Payments vs Maximus: FOUR and MMS compared
Shift4 Payments is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $1.3B for Maximus (Q3 FY26). Shift4 Payments is growing faster (+12% against -5% a year earlier). Maximus is more profitable, with an operating margin of 12.6% against 9.9%.
Where the money goes: FOUR and MMS
Shift4 Payments (FOUR) · Q3 2026
Shift4 Payments, Q3 2026: revenue $1.3B (+12% year over year), operating margin 9.9%, net earnings $38.0M, operating cash flow $221M. The chart follows the revenue to costs, profit and cash.
Maximus (MMS) · Q3 FY26
Maximus, Q3 FY26: revenue $1.3B (-5% year over year), operating margin 12.6%, net earnings $104M, operating cash flow −$125M. The chart follows the revenue to costs, profit and cash.
| Shift4 Payments (FOUR) | Maximus (MMS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 FY26 |
| Revenue | $1.3B | $1.3B |
| Revenue growth, Y/Y | +12% | -5% |
| Gross margin | — | 27.3% |
| Operating margin | 9.9% | 12.6% |
| Net earnings | $38.0M | $104M |
| Net margin | 2.9% | 8.1% |
| Operating cash flow | $221M | −$125M |
| Free cash flow | $216M | — |
| Market value | $3.3B | $3.5B |
| P/E | 25.5× | 9.3× |
| Analysts’ mean target | $50.50 | $92.50 |
Where the revenue comes from
Shift4 Payments
- Payments-based revenue: $1.1B (81%)
- TFS revenue: $139M (11%)
- Subscription and other revenue: $107M (8%)
Maximus
- Program Operations: $603M (47%)
- Clinical Services: $553M (43%)
- Technology Solutions: $67.2M (5%)
- Employment & Other: $55.9M (4%)
Questions
Which is bigger, Shift4 Payments or Maximus?
Shift4 Payments is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $1.3B for Maximus (Q3 FY26).
Is Shift4 Payments or Maximus growing faster?
Shift4 Payments is growing faster (+12% against -5% a year earlier).
Which is more profitable, Shift4 Payments or Maximus?
Maximus is more profitable, with an operating margin of 12.6% against 9.9%.
More: Shift4 Payments earnings · how Shift4 Payments makes money · Maximus earnings · how Maximus makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 6, 2026). Fiscal quarters can end on different dates. Not investment advice.