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Maximus vs Trinet Group: MMS and TNET compared
Maximus is the larger company: $1.3B of revenue in its latest quarter (Q3 FY26) against $1.2B for Trinet Group (Q3 2026). Trinet Group is growing faster (-5% against -5% a year earlier). Maximus is more profitable, with an operating margin of 12.6% against 3.3%.
Where the money goes: MMS and TNET
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.
Trinet Group (TNET) · Q3 2026
Trinet Group, Q3 2026: revenue $1.2B (-5% year over year), operating margin 3.3%, net earnings $31.0M, operating cash flow $80.0M. The chart follows the revenue to costs, profit and cash.
| Maximus (MMS) | Trinet Group (TNET) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $1.3B | $1.2B |
| Revenue growth, Y/Y | -5% | -5% |
| Gross margin | 27.3% | — |
| Operating margin | 12.6% | 3.3% |
| Net earnings | $104M | $31.0M |
| Net margin | 8.1% | 2.6% |
| Operating cash flow | −$125M | $80.0M |
| Free cash flow | — | $53.0M |
| Market value | $3.5B | $3.1B |
| P/E | 9.3× | 17.9× |
| Analysts’ mean target | $92.50 | $66.20 |
Where the revenue comes from
Maximus
- Program Operations: $603M (47%)
- Clinical Services: $553M (43%)
- Technology Solutions: $67.2M (5%)
- Employment & Other: $55.9M (4%)
Questions
Which is bigger, Maximus or Trinet Group?
Maximus is the larger company: $1.3B of revenue in its latest quarter (Q3 FY26) against $1.2B for Trinet Group (Q3 2026).
Is Maximus or Trinet Group growing faster?
Trinet Group is growing faster (-5% against -5% a year earlier).
Which is more profitable, Maximus or Trinet Group?
Maximus is more profitable, with an operating margin of 12.6% against 3.3%.
More: Maximus earnings · how Maximus makes money · Trinet Group earnings · how Trinet Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 6, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.