Symbols / MMS Stock $65.47 -0.12% Maximus, Inc.

Industrials • Specialty Business Services • United States • NYQ
MMS (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Industrials
Industry Specialty Business Services
CEO Mr. Bruce L. Caswell
Exch · Country NYQ · United States
Market Cap 3.57B
Enterprise Value 5.11B
Income 371.78M
Sales 5.37B
FCF (ttm) 159.17M
Book/sh 31.53
Cash/sh 2.52
Employees 37,200
Insider 10d
IPO Jun 13, 1997
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 18.40%
P/E 10.04
Forward P/E 7.18
PEG 2.06
P/S 0.66
P/B 2.08
P/C
EV/EBITDA 7.28
EV/Sales 0.95
Quick Ratio 2.12
Current Ratio 2.34
Debt/Eq 97.20
LT Debt/Eq
EPS (ttm) 6.52
EPS next Y 9.12
EPS Growth 146.50%
Revenue Growth -4.10%
EPS Gr Q/Q 128.00%
Rev Gr Q/Q
Earnings (next) 2026-05-07
Earnings (prior) 2026-02-05
ROA 8.89%
ROE 22.09%
ROIC
Gross Margin 25.13%
Oper. Margin 10.87%
Profit Margin 6.92%
Shs Outstand 54.55M
Shs Float 53.79M
Insider Own 1.72%
Instit Own 109.28%
Short Float 8.09%
Short Ratio 3.50
Short Interest 2.55M
52W High 100.00
vs 52W High -34.53%
52W Low 60.75
vs 52W Low 7.77%
Beta 0.62
Impl. Vol. 55.73%
Rel Volume 1.24
Avg Volume 745.42K
Volume 927.99K
Target (mean) $110.00
Tgt Median $110.00
Tgt Low $95.00
Tgt High $125.00
# Analysts 2
Recom None
Prev Close $65.55
Price $65.47
Change -0.12%
About

Maximus, Inc. operates as a provider of government services worldwide. The company operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Federal Services segment offers business process services, eligibility and enrollment, outreach, and other services for federal health and human services programs; clinical services; and technology solutions, such as application development and modernization services, enterprise business solutions, advanced analytics and emerging technologies, cybersecurity services, data management, and infrastructure and engineering solutions. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; subsidized telephone services; and person-centered independent assessment services. This segment also provides employment services, such as eligibility support, case management, job-readiness preparation, job search and employer outreach, job retention and career advancement, and educational and training services; technology solutions; and system implementation project management services. The Outside the U.S. segment offers BPS and technology solutions for international governments, including health and disability assessments, program administration for employment services, wellbeing solutions and other job seeker-related services, digitally-enabled customer services, and technologies for modernization. Maximus, Inc. was founded in 1975 and is headquartered in McLean, Virginia.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus Mean price target
2. Current target Latest analyst target
3. DCF / Fair value Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$65.47
Low
$95.00
High
$125.00
Mean
$110.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-01-02 up Raymond James Market Perform → Outperform $90
2024-01-03 down Raymond James Outperform → Market Perform
2023-08-18 init Stifel — → Buy $102
2023-02-09 main Raymond James — → Outperform $100
2022-05-06 main Raymond James — → Outperform $80
2021-06-28 down Raymond James Strong Buy → Outperform $105
2021-05-07 main Raymond James — → Strong Buy $110
2021-04-22 main Canaccord Genuity — → Hold $95
2021-02-05 main Raymond James — → Strong Buy $96
2020-08-07 main Keybanc — → Overweight $84
2020-07-08 up Raymond James Market Perform → Strong Buy $90
2020-06-24 up Keybanc Sector Weight → Overweight $80
2020-01-08 main Wells Fargo — → Equal-Weight $81
2019-08-13 main Canaccord Genuity — → Hold $77
2019-08-09 down Wells Fargo Outperform → Market Perform $83
2018-10-10 main Canaccord Genuity Hold → Hold $67
2018-05-11 main Canaccord Genuity Hold → Hold $64
2018-05-08 up First Analysis Equal-Weight → Overweight
2018-02-09 main Canaccord Genuity Hold → Hold $65
2018-02-09 main Maxim Group Buy → Hold $69
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-17 MADSEN JAN D. Director 742 $72.25 $53,610
2026-03-10 HALEY JOHN J Director 7,009 $0.00 $0
2026-03-10 MADSEN JAN D. Director 3,215 $0.00 $0
2026-03-10 ALTMAN ANNE K Director 3,062 $0.00 $0
2026-03-10 WARREN MICHAEL J. Director 2,246 $0.00 $0
2026-03-10 RAJAN GAYATHRI Director 2,246 $0.00 $0
2026-02-27 MONTONI RICHARD A Director 7,000 $0.00 $0
2026-02-24 MONTONI RICHARD A Director 3,000 $0.00 $0
2026-02-18 HALEY JOHN J Director 32,764 $0.00 $0
2026-02-10 HALEY JOHN J Director 32,764 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Total Revenue
5,431.28
+2.36%
5,306.20
+8.19%
4,904.73
+5.91%
4,631.02
Operating Revenue
5,431.28
+2.36%
5,306.20
+8.19%
4,904.73
+5.91%
4,631.02
Cost Of Revenue
4,097.83
+1.07%
4,054.55
+4.60%
3,876.12
+5.01%
3,691.21
Reconciled Cost Of Revenue
4,056.16
+0.88%
4,020.59
+5.21%
3,821.39
+4.73%
3,648.88
Gross Profit
1,333.44
+6.53%
1,251.65
+21.68%
1,028.61
+9.45%
939.81
Operating Expense
805.15
+5.50%
763.15
+4.00%
733.81
+17.42%
624.96
Selling General And Administration
713.11
+6.18%
671.58
+5.06%
639.22
+19.59%
534.49
Total Expenses
4,902.99
+1.77%
4,817.70
+4.51%
4,609.93
+6.81%
4,316.17
Operating Income
528.29
+8.15%
488.50
+65.71%
294.79
-6.37%
314.85
Total Operating Income As Reported
528.29
+8.15%
488.50
+65.71%
294.79
-9.54%
325.90
EBITDA
662.64
+7.84%
614.48
+38.47%
443.75
-2.66%
455.86
Normalized EBITDA
662.64
+7.84%
614.48
+38.47%
443.75
-0.24%
444.81
Reconciled Depreciation
133.72
+6.52%
125.53
-15.93%
149.32
+12.44%
132.79
EBIT
528.93
+8.18%
488.95
+66.07%
294.43
-8.86%
323.06
Total Unusual Items
0.00
0.00
-100.00%
11.05
Total Unusual Items Excluding Goodwill
0.00
0.00
-100.00%
11.05
Special Income Charges
0.00
0.00
-100.00%
11.05
Net Income
319.03
+3.95%
306.91
+89.70%
161.79
-20.62%
203.83
Pretax Income
444.85
+9.43%
406.51
+93.31%
210.29
-24.11%
277.10
Net Non Operating Interest Income Expense
-84.08
-1.99%
-82.44
+2.02%
-84.14
-83.05%
-45.97
Interest Expense Non Operating
84.08
+1.99%
82.44
-2.02%
84.14
+83.05%
45.97
Net Interest Income
-84.08
-1.99%
-82.44
+2.02%
-84.14
-83.05%
-45.97
Interest Expense
84.08
+1.99%
82.44
-2.02%
84.14
+83.05%
45.97
Other Income Expense
0.64
+42.22%
0.45
+223.97%
-0.36
-104.42%
8.21
Other Non Operating Income Expenses
0.64
+42.22%
0.45
+223.97%
-0.36
+87.20%
-2.83
Tax Provision
125.81
+26.33%
99.59
+105.35%
48.50
-33.81%
73.27
Tax Rate For Calcs
0.00
+15.51%
0.00
+6.06%
0.00
-12.64%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
-100.00%
2.92
Net Income Including Noncontrolling Interests
319.03
+3.95%
306.91
+89.70%
161.79
-20.62%
203.83
Net Income From Continuing Operation Net Minority Interest
319.03
+3.95%
306.91
+89.70%
161.79
-20.62%
203.83
Net Income From Continuing And Discontinued Operation
319.03
+3.95%
306.91
+89.70%
161.79
-20.62%
203.83
Net Income Continuous Operations
319.03
+3.95%
306.91
+89.70%
161.79
-20.62%
203.83
Minority Interests
Normalized Income
319.03
+3.95%
306.91
+89.70%
161.79
-17.33%
195.70
Net Income Common Stockholders
319.03
+3.95%
306.91
+89.70%
161.79
-20.62%
203.83
Diluted EPS
5.51
+10.42%
4.99
+89.73%
2.63
-20.06%
3.29
Basic EPS
5.56
+10.54%
5.03
+89.81%
2.65
-19.70%
3.30
Basic Average Shares
57.41
-5.96%
61.05
-0.12%
61.12
-1.05%
61.77
Diluted Average Shares
57.92
-5.80%
61.48
+0.06%
61.45
-0.84%
61.97
Diluted NI Availto Com Stockholders
319.03
+3.95%
306.91
+89.70%
161.79
-20.62%
203.83
Amortization
92.05
+0.52%
91.57
-3.19%
94.59
+4.56%
90.47
Amortization Of Intangibles Income Statement
92.05
+0.52%
91.57
-3.19%
94.59
+4.56%
90.47
Depreciation Amortization Depletion Income Statement
92.05
+0.52%
91.57
-3.19%
94.59
+4.56%
90.47
Depreciation And Amortization In Income Statement
92.05
+0.52%
91.57
-3.19%
94.59
+4.56%
90.47
Gain On Sale Of PPE
0.00
0.00
-100.00%
11.05
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Total Assets
4,069.64
-1.50%
4,131.51
+3.66%
3,985.80
-0.17%
3,992.71
Current Assets
1,252.92
+4.36%
1,200.54
+13.75%
1,055.47
+2.24%
1,032.31
Cash Cash Equivalents And Short Term Investments
222.35
+21.42%
183.12
+179.98%
65.41
+60.87%
40.66
Cash And Cash Equivalents
222.35
+21.42%
183.12
+179.98%
65.41
+60.87%
40.66
Receivables
902.00
+1.94%
884.80
+4.90%
843.43
+4.22%
809.27
Accounts Receivable
720.50
-1.95%
734.82
+6.08%
692.71
-4.32%
723.98
Receivables Adjustments Allowances
-9.77
-103.97%
-4.79
-28.82%
-3.72
+55.05%
-8.27
Other Receivables
187.37
+25.34%
149.49
+8.41%
137.88
+50.85%
91.40
Taxes Receivable
3.90
-26.09%
5.28
-68.10%
16.56
+667.19%
2.16
Prepaid Assets
182.39
Other Current Assets
128.57
-3.05%
132.62
-9.55%
146.63
-19.60%
182.39
Total Non Current Assets
2,816.72
-3.90%
2,930.96
+0.02%
2,930.33
-1.02%
2,960.40
Net PPE
131.49
-23.81%
172.57
-14.89%
202.76
+9.52%
185.14
Gross PPE
275.38
-17.92%
335.51
-11.09%
377.36
-10.34%
420.87
Accumulated Depreciation
-143.89
+11.69%
-162.94
+6.68%
-174.60
+25.93%
-235.73
Properties
0.00
0.00
0.00
0.00
Land And Improvements
0.00
Buildings And Improvements
0.00
Machinery Furniture Equipment
108.92
-11.47%
123.03
-8.81%
134.91
-35.53%
209.26
Other Properties
100.51
-24.76%
133.59
-18.50%
163.93
+23.36%
132.88
Leases
65.94
-16.41%
78.89
+0.48%
78.52
-0.26%
78.73
Goodwill And Other Intangible Assets
2,534.62
-2.56%
2,601.12
+0.40%
2,590.67
-1.98%
2,643.06
Goodwill
1,782.10
-0.04%
1,782.87
+0.21%
1,779.21
-0.01%
1,779.41
Other Intangible Assets
752.53
-8.03%
818.25
+0.84%
811.46
-6.04%
863.64
Non Current Deferred Assets
138.09
+6.11%
130.15
+43.41%
90.75
+1.11%
89.75
Non Current Deferred Taxes Assets
11.49
-22.36%
14.80
+501.91%
2.46
-50.52%
4.97
Other Non Current Assets
12.51
-53.88%
27.13
-41.21%
46.15
+8.72%
42.45
Total Liabilities Net Minority Interest
2,395.60
+4.67%
2,288.69
-1.26%
2,317.96
-5.13%
2,443.34
Current Liabilities
765.16
-5.25%
807.53
+11.69%
723.01
-6.64%
774.45
Payables And Accrued Expenses
314.21
-4.74%
329.86
+16.75%
282.53
+6.51%
265.27
Payables
314.21
-4.74%
329.86
+16.75%
282.53
+6.51%
265.27
Accounts Payable
296.89
-2.12%
303.32
+7.53%
282.08
+6.63%
264.55
Employee Benefits
46.43
+15.47%
40.21
Pensionand Other Post Retirement Benefit Plans Current
236.95
-0.07%
237.12
+22.07%
194.25
+9.01%
178.20
Total Tax Payable
17.32
-34.72%
26.54
+5783.59%
0.45
-37.19%
0.72
Income Tax Payable
17.32
-34.72%
26.54
+5783.59%
0.45
-37.19%
0.72
Current Debt And Capital Lease Obligation
91.28
+3.98%
87.80
-35.77%
136.70
+7.25%
127.46
Current Debt
52.68
+31.24%
40.14
-53.78%
86.84
+36.85%
63.46
Other Current Borrowings
52.68
+31.24%
40.14
-53.78%
86.84
+36.85%
63.46
Current Capital Lease Obligation
38.60
-18.99%
47.66
-4.41%
49.85
-22.11%
64.00
Current Deferred Liabilities
53.78
-35.39%
83.24
+37.64%
60.48
-30.60%
87.15
Current Deferred Revenue
53.78
-35.39%
83.24
+37.64%
60.48
-30.60%
87.15
Other Current Liabilities
68.94
-0.84%
69.52
+41.71%
49.06
-57.84%
116.37
Total Non Current Liabilities Net Minority Interest
1,630.44
+10.08%
1,481.16
-7.13%
1,594.95
-4.43%
1,668.90
Long Term Debt And Capital Lease Obligation
1,352.88
+13.77%
1,189.17
-8.00%
1,292.52
-6.25%
1,378.66
Long Term Debt
1,281.59
+17.37%
1,091.95
-6.12%
1,163.15
-10.01%
1,292.48
Long Term Capital Lease Obligation
71.29
-26.67%
97.22
-24.85%
129.37
+50.12%
86.17
Defined Pension Benefit
37.05
Non Current Deferred Liabilities
254.92
-6.21%
271.79
-6.01%
289.18
+8.01%
267.72
Non Current Deferred Revenue
43.76
-2.93%
45.08
+16.03%
38.85
+81.42%
21.41
Non Current Deferred Taxes Liabilities
149.02
-11.88%
169.12
-17.06%
203.90
-1.07%
206.10
Other Non Current Liabilities
22.64
+12.09%
20.20
+52.38%
13.25
-41.14%
22.52
Stockholders Equity
1,674.04
-9.16%
1,842.82
+10.49%
1,667.84
+7.65%
1,549.37
Common Stock Equity
1,674.04
-9.16%
1,842.82
+10.49%
1,667.84
+7.65%
1,549.37
Capital Stock
628.12
+4.98%
598.30
+3.53%
577.90
+3.57%
557.98
Common Stock
628.12
+4.98%
598.30
+3.53%
577.90
+3.57%
557.98
Share Issued
54.80
-9.19%
60.35
-1.06%
61.00
+0.37%
60.77
Ordinary Shares Number
54.80
-9.19%
60.35
-1.06%
61.00
+0.37%
60.77
Retained Earnings
1,063.78
-16.69%
1,276.97
+14.27%
1,117.55
+8.99%
1,025.35
Gains Losses Not Affecting Retained Earnings
-17.87
+44.96%
-32.46
-17.54%
-27.61
+18.69%
-33.96
Other Equity Adjustments
-17.87
+44.96%
-32.46
-17.54%
-27.61
+18.69%
-33.96
Total Equity Gross Minority Interest
1,674.04
-9.16%
1,842.82
+10.49%
1,667.84
+7.65%
1,549.37
Total Capitalization
2,955.63
+0.71%
2,934.77
+3.67%
2,830.98
-0.38%
2,841.85
Working Capital
487.76
+24.11%
393.01
+18.22%
332.45
+28.92%
257.87
Invested Capital
3,008.31
+1.12%
2,974.91
+1.96%
2,917.83
+0.43%
2,905.31
Total Debt
1,444.17
+13.09%
1,276.97
-10.65%
1,429.21
-5.11%
1,506.12
Net Debt
1,111.92
+17.17%
948.97
-19.89%
1,184.59
-9.94%
1,315.28
Capital Lease Obligations
109.89
-24.15%
144.88
-19.16%
179.22
+19.34%
150.17
Net Tangible Assets
-860.59
-13.49%
-758.30
+17.83%
-922.84
+15.62%
-1,093.69
Tangible Book Value
-860.59
-13.49%
-758.30
+17.83%
-922.84
+15.62%
-1,093.69
Line Item Trend 2025-09-30 2024-09-30 2023-09-30 2022-09-30
Operating Cash Flow
429.37
-16.67%
515.26
+63.92%
314.34
+8.45%
289.84
Cash Flow From Continuing Operating Activities
429.37
-16.67%
515.26
+63.92%
314.34
+8.45%
289.84
Net Income From Continuing Operations
319.03
+3.95%
306.91
+89.70%
161.79
-20.62%
203.83
Depreciation Amortization Depletion
133.72
+6.52%
125.53
-15.93%
149.32
+12.44%
132.79
Depreciation
41.67
+22.71%
33.96
-37.95%
54.73
+29.28%
42.33
Amortization Cash Flow
92.05
+0.52%
91.57
-3.19%
94.59
+4.56%
90.47
Depreciation And Amortization
133.72
+6.52%
125.53
-15.93%
149.32
+12.44%
132.79
Amortization Of Intangibles
92.05
+0.52%
91.57
-3.19%
94.59
+4.56%
90.47
Other Non Cash Items
2.78
-21.28%
3.53
+24.57%
2.84
-5.81%
3.01
Stock Based Compensation
41.18
+16.50%
35.35
+19.74%
29.52
-3.13%
30.48
Deferred Tax
-16.72
+53.60%
-36.02
-2421.01%
1.55
-84.79%
10.20
Deferred Income Tax
-16.72
+53.60%
-36.02
-2421.01%
1.55
-84.79%
10.20
Operating Gains Losses
39.55
+3784.97%
1.02
+15.29%
0.88
+107.99%
-11.05
Gain Loss On Sale Of PPE
0.00
0.00
+100.00%
-11.05
Change In Working Capital
-90.17
-214.24%
78.94
+350.10%
-31.56
+60.26%
-79.43
Change In Receivables
-31.85
+37.00%
-50.56
-116.07%
-23.40
-265.59%
14.13
Changes In Account Receivables
-31.85
+37.00%
-50.56
-116.07%
-23.40
-265.59%
14.13
Change In Prepaid Assets
-13.80
-230.66%
10.56
+1129.92%
0.86
+112.74%
-6.75
Change In Payables And Accrued Expense
4.73
-91.63%
56.51
+86.03%
30.38
+203.21%
-29.43
Change In Accrued Expense
12.22
-68.04%
38.25
+202.35%
12.65
+284.73%
3.29
Change In Payable
-7.49
-141.01%
18.27
+3.03%
17.73
+154.18%
-32.72
Change In Account Payable
-7.49
-141.01%
18.27
+3.03%
17.73
+154.18%
-32.72
Change In Other Working Capital
-49.25
-178.90%
62.42
+258.43%
-39.40
+31.34%
-57.38
Investing Cash Flow
-60.26
+53.32%
-129.10
-59.46%
-80.96
-49.91%
-54.01
Cash Flow From Continuing Investing Activities
-60.26
+53.32%
-129.10
-59.46%
-80.96
-49.91%
-54.01
Net PPE Purchase And Sale
-63.21
+44.64%
-114.19
-25.91%
-90.69
-128.37%
-39.71
Purchase Of PPE
-63.21
+44.64%
-114.19
-25.91%
-90.69
-61.54%
-56.15
Sale Of PPE
0.00
0.00
-100.00%
16.43
Capital Expenditure
-63.21
+44.64%
-114.19
-25.91%
-90.69
-61.54%
-56.15
Net Investment Purchase And Sale
Sale Of Investment
Net Business Purchase And Sale
5.12
+65.87%
3.08
-68.30%
9.73
+168.08%
-14.29
Purchase Of Business
0.00
0.00
+100.00%
-14.29
Gain Loss On Sale Of Business
39.55
+3784.97%
1.02
+15.29%
0.88
0.00
Net Other Investing Changes
-2.17
+87.97%
-18.00
Financing Cash Flow
-343.88
-24.75%
-275.65
-9.91%
-250.80
-1.02%
-248.27
Cash Flow From Continuing Financing Activities
-343.88
-24.75%
-275.65
-9.91%
-250.80
-1.02%
-248.27
Net Issuance Payments Of Debt
201.36
+279.73%
-112.04
-3.09%
-108.67
+30.18%
-155.66
Issuance Of Debt
1,499.00
+36.25%
1,100.17
+30.31%
844.30
+37.28%
615.00
Repayment Of Debt
-1,297.64
-7.05%
-1,212.20
-27.20%
-952.97
-23.66%
-770.66
Long Term Debt Issuance
1,499.00
+36.25%
1,100.17
+30.31%
844.30
+37.28%
615.00
Long Term Debt Payments
-1,297.64
-7.05%
-1,212.20
-27.20%
-952.97
-23.66%
-770.66
Net Long Term Debt Issuance
201.36
+279.73%
-112.04
-3.09%
-108.67
+30.18%
-155.66
Net Common Stock Issuance
-447.48
-512.41%
-73.07
0.00
+100.00%
-96.12
Common Stock Payments
-447.48
-512.41%
-73.07
0.00
+100.00%
-96.12
Common Stock Dividend Paid
-68.71
+5.75%
-72.90
-7.09%
-68.07
+0.94%
-68.72
Cash Dividends Paid
-68.71
+5.75%
-72.90
-7.09%
-68.07
+0.94%
-68.72
Repurchase Of Capital Stock
-447.48
-512.41%
-73.07
0.00
+100.00%
-96.12
Net Other Financing Charges
-29.05
-64.66%
-17.64
+76.18%
-74.05
-202.53%
72.22
Changes In Cash
25.23
-77.17%
110.51
+734.34%
-17.42
-40.03%
-12.44
Effect Of Exchange Rate Changes
-0.54
-117.00%
3.16
+16.45%
2.72
+137.05%
-7.33
Beginning Cash Position
235.76
+93.10%
122.09
-10.75%
136.79
-12.63%
156.57
End Cash Position
260.46
+10.47%
235.76
+93.10%
122.09
-10.75%
136.79
Free Cash Flow
366.16
-8.70%
401.07
+79.33%
223.65
-4.30%
233.69
Interest Paid Supplemental Data
82.56
+4.57%
78.95
-2.64%
81.10
+88.19%
43.09
Income Tax Paid Supplemental Data
149.94
+50.41%
99.69
+63.29%
61.05
-19.71%
76.04
Sale Of Business
5.12
+65.87%
3.08
-68.30%
9.73
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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