Maximus Inc (MMS)

Cash conversion cycle

Sep 30, 2025 Sep 30, 2024 Sep 30, 2023 Sep 30, 2022 Sep 30, 2021
Days of inventory on hand (DOH) days — — — — —
Days of sales outstanding (DSO) days 60.35 60.86 62.77 63.78 72.09
Number of days of payables days 25.86 26.70 25.93 25.53 33.72
Cash conversion cycle days 34.49 34.16 36.84 38.25 38.36

September 30, 2025 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= — + 60.35 – 25.86
= 34.49