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MediaAlpha, Inc.(MAX)Earnings, Financials & Key Ratios
MAX•NYSE
$8.97
$495M mkt cap·23.0× P/E·Price updated May 6, 2026
SectorCommunication ServicesIndustryInternet ServicesSub-IndustryDigital Advertising and Marketing Technology
AboutMediaAlpha, Inc., through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California. MediaAlpha, Inc. is a subsidiary of White Mountains Insurance Group, Ltd.Show more
- Revenue$1.11B+28.8%
- EBITDA$81M+64.9%
- Net Income$26M+54.1%
- EPS (Diluted)0.39+25.8%
- Gross Margin14.78%-11.0%
- EBITDA Margin7.32%+28.0%
- Operating Margin7.02%+42.2%
- Net Margin2.3%+19.6%
- ROIC77.15%+63.2%
- Interest Coverage-8.88-336.7%
MAX Key Insights
MediaAlpha, Inc. (MAX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 13.7%
- ✓Efficient asset utilization: 2.9x turnover
✗Weaknesses
- ✗Shares diluted 25.9% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
MAX Price & Volume
MediaAlpha, Inc. (MAX) stock price & volume — 10-year historical chart
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MAX Growth Metrics
MediaAlpha, Inc. (MAX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years13.75%
3 Years34.36%
TTM15.66%
Profit CAGR
10 Years-
5 Years11.6%
3 Years-
TTM147.17%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM123.23%
Return on Capital
10 Years14.94%
5 Years2.95%
3 Years12.34%
Last Year42.78%
MAX Recent Earnings
MediaAlpha, Inc. (MAX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
Apr 29, 2026EPS
$0.21
Est $0.25
-16.0%
Revenue
$310M
Est $299M
+3.7%
Q1 2026
Feb 23, 2026EPS
$0.50
Est $0.25
+100.0%
Revenue
$291M
Est $295M
-1.3%
Q4 2025
Oct 29, 2025EPS
$0.26
Est $0.21
+23.8%
Revenue
$307M
Est $296M
+3.4%
Q3 2025
Aug 6, 2025EPS
$0.17
Est $0.16
+6.3%
Revenue
$252M
Est $249M
+1.1%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $0.21vs $0.25-16.0% | $310Mvs $299M+3.7% |
| Q1 2026 | Feb 23, 2026 | $0.50vs $0.25+100.0% | $291Mvs $295M-1.3% |
| Q4 2025 | Oct 29, 2025 | $0.26vs $0.21+23.8% | $307Mvs $296M+3.4% |
| Q3 2025 | Aug 6, 2025 | $0.17vs $0.16+6.3% | $252Mvs $249M+1.1% |
Based on last 12 quarters of dataView full earnings history →
MAX Peer Comparison
MediaAlpha, Inc. (MAX) competitors in Digital Advertising and Marketing Technology — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 QNST | 742.06M | 13.02 | 161.34 | 78.27% | 5.64% | 24.45% | 0.04 | |
 RAMP | 1.86B | 29.44 | -2433.06 | 13.02% | 8.64% | 7.15% | 0.04 | |
 ACMR | 3.67B | 55.38 | 40.42 | 15.24% | 10.44% | 6.11% | 0.16 | |
 TPVG | 225.54M | 5.57 | 4.57 | 36.55% | 13.09% | 1.33 | ||
 GOOG | 4.78T | 395.07 | 36.55 | 15.13% | 37.91% | 38.98% | 0.14 | |
 META | 1.55T | 612.88 | 26.09 | 22.17% | 32.84% | 33.22% | 0.39 | |
 TTD | 11.42B | 23.99 | 26.36 | 18.47% | 15.31% | 16.89% | 0.18 | |
 MGNI | 1.92B | 13.39 | 14.09 | 6.85% | 21.96% | 18.57% | 0.30 |
Compare MAX vs Peers
MediaAlpha, Inc. (MAX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MAX Income Statement
MediaAlpha, Inc. (MAX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 296.91M | 408M | 584.81M | 645.27M | 459.07M | 388.15M | 864.7M | 1.11B | 1.16B |
| Revenue Growth % | - | 37.42% | 43.34% | 10.34% | -28.86% | -15.45% | 122.78% | 28.78% | 15.66% |
| Cost of Goods Sold | 247.67M | 342.91M | 499.43M | 543.75M | 389.01M | 321.44M | 721.13M | 946.06M | 986.69M |
| COGS % of Revenue | 83.42% | 84.05% | 85.4% | 84.27% | 84.74% | 82.81% | 83.4% | 84.95% | - |
| Gross Profit | 49.24M▲ 0% | 65.1M▲ 32.2% | 85.38M▲ 31.2% | 101.52M▲ 18.9% | 70.06M▼ 31.0% | 66.71M▼ 4.8% | 143.57M▲ 115.2% | 164.56M▲ 14.6% | 172.6M▲ 0% |
| Gross Margin % | 16.58% | 15.95% | 14.6% | 15.73% | 15.26% | 17.19% | 16.6% | 14.78% | 14.89% |
| Gross Profit Growth % | - | 32.2% | 31.16% | 18.91% | -30.99% | -4.78% | 115.21% | 14.62% | - |
| Operating Expenses | 29.92M | 40.26M | 65.84M | 99.38M | 105.45M | 106.64M | 100.85M | 86.35M | 72.13M |
| OpEx % of Revenue | 10.08% | 9.87% | 11.26% | 15.4% | 22.97% | 27.47% | 11.66% | 7.75% | - |
| Selling, General & Admin | 19.58M | 33.21M | 53.4M | 84.18M | 84.37M | 83.88M | 69.99M | 110.61M | 71M |
| SG&A % of Revenue | 6.6% | 8.14% | 9.13% | 13.05% | 18.38% | 21.61% | 8.09% | 9.93% | - |
| Research & Development | 10.34M | 7.04M | 12.45M | 15.2M | 21.08M | 18.46M | 19.76M | 21.4M | 21.96M |
| R&D % of Revenue | 3.48% | 1.73% | 2.13% | 2.35% | 4.59% | 4.76% | 2.29% | 1.92% | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 4.3M | 11.09M | -45.66M | 0 |
| Operating Income | 19.32M▲ 0% | 24.84M▲ 28.6% | 19.54M▼ 21.4% | 2.15M▼ 89.0% | -35.39M▼ 1746.8% | -39.92M▼ 12.8% | 42.73M▲ 207.0% | 78.22M▲ 83.1% | 100.47M▲ 0% |
| Operating Margin % | 6.51% | 6.09% | 3.34% | 0.33% | -7.71% | -10.29% | 4.94% | 7.02% | 8.67% |
| Operating Income Growth % | - | 28.58% | -21.36% | -89% | -1746.81% | -12.81% | 207.02% | 83.07% | - |
| EBITDA | 31.27M | 30.49M | 23.02M | 5.5M | -29.24M | -32.65M | 49.41M | 81.47M | 102.77M |
| EBITDA Margin % | 10.53% | 7.47% | 3.94% | 0.85% | -6.37% | -8.41% | 5.71% | 7.32% | 8.87% |
| EBITDA Growth % | - | -2.5% | -24.49% | -76.1% | -631.5% | -11.66% | 251.3% | 64.89% | 118.72% |
| D&A (Non-Cash Add-back) | 11.96M | 5.65M | 3.49M | 3.35M | 6.15M | 7.27M | 6.68M | 3.25M | 2.3M |
| EBIT | 19.32M | 24.84M | 19.54M | 2.15M | -35.39M | -35.62M | 53.82M | -99.82M | -42.83M |
| Net Interest Income | -1.19M | -7.02M | -7.94M | -7.83M | -9.24M | -15.31M | -14.35M | -11.24M | -10.73M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.19M | 7.02M | 7.94M | 7.83M | 9.24M | 15.31M | 14.35M | 11.24M | 10.73M |
| Other Income/Expense | -1.19M | -7.02M | -10.24M | -11.67M | 65.85M | -17.09M | -19.22M | -189.28M | -188.6M |
| Pretax Income | 18.13M▲ 0% | 17.82M▼ 1.7% | 9.29M▼ 47.8% | -9.52M▼ 202.4% | 30.46M▲ 419.9% | -57.02M▼ 287.2% | 23.5M▲ 141.2% | -111.06M▼ 572.6% | -88.13M▲ 0% |
| Pretax Margin % | 6.1% | 4.37% | 1.59% | -1.48% | 6.63% | -14.69% | 2.72% | -9.97% | -7.6% |
| Income Tax | 0 | 0 | -1.27M | -1.05M | 102.91M | -463K | 1.38M | -137.82M | -131.27M |
| Effective Tax Rate % | 0% | 0% | -13.63% | 11% | 337.85% | 0.81% | 5.89% | 124.1% | 148.95% |
| Net Income | 18.13M▲ 0% | 17.82M▼ 1.7% | 14.8M▼ 16.9% | -5.28M▼ 135.6% | -57.67M▼ 993.2% | -40.42M▲ 29.9% | 16.63M▲ 141.1% | 25.62M▲ 54.1% | 39.04M▲ 0% |
| Net Margin % | 6.1% | 4.37% | 2.53% | -0.82% | -12.56% | -10.41% | 1.92% | 2.3% | 3.37% |
| Net Income Growth % | - | -1.68% | -16.95% | -135.64% | -993.19% | 29.91% | 141.14% | 54.09% | 147.17% |
| Net Income (Continuing) | 18.13M | 17.82M | 10.56M | -8.47M | -72.45M | -56.55M | 22.12M | 26.76M | 43.14M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | -71.34M | -57.23M | -70.09M | -84.13M | -48.61M | -33.35M | -31.01M |
| EPS (Diluted) | 0.55▲ 0% | 0.54▼ 1.8% | -0.14▼ 125.9% | -0.19▼ 35.7% | -1.37▼ 621.1% | -0.89▲ 35.0% | 0.31▲ 134.8% | 0.39▲ 25.8% | 0.70▲ 0% |
| EPS Growth % | - | -1.82% | -125.93% | -35.71% | -621.05% | 35.04% | 134.83% | 25.81% | 123.23% |
| EPS (Basic) | 0.55 | 0.54 | -0.13 | -0.14 | -1.37 | -0.89 | 0.31 | 0.46 | - |
| Diluted Shares Outstanding | 33.17M | 1.02M | 32.13M | 61.26M | 41.94M | 45.57M | 53.04M | 66.79M | 55.85M |
| Basic Shares Outstanding | 33.17M | 1.02M | 105.71M | 28.41M | 41.94M | 45.42M | 53.64M | 56.24M | 55.85M |
| Dividend Payout Ratio | 87.6% | 536.7% | 887.95% | - | - | - | 7.35% | - | - |
MAX Balance Sheet
MediaAlpha, Inc. (MAX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 44.1M | 67.49M | 127.8M | 137.11M | 80.42M | 74.57M | 189.91M | 174.37M | 165.21M |
| Cash & Short-Term Investments | 5.66M | 10.03M | 23.55M | 50.56M | 14.54M | 17.27M | 43.27M | 46.88M | 26.05M |
| Cash Only | 5.66M | 10.03M | 23.55M | 50.56M | 14.54M | 17.27M | 43.27M | 46.88M | 26.05M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 37.15M | 56.01M | 96.3M | 76.09M | 60M | 53.77M | 142.93M | 123.02M | 250.36M |
| Days Sales Outstanding | 45.67 | 50.11 | 60.1 | 43.04 | 47.7 | 50.57 | 60.33 | 40.32 | 47.65 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 3.71M | 4.48M | -111.21M |
| Total Non-Current Assets | 43.27M | 37.91M | 82.54M | 152.7M | 89.66M | 79.35M | 72.54M | 209.46M | 202.51M |
| Property, Plant & Equipment | 881K | 755K | 762K | 3.51M | 2.76M | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | 337.01x | 540.40x | 767.47x | 183.63x | 166.27x | - | - | - | - |
| Goodwill | 18.4M | 18.4M | 18.4M | 18.4M | 47.74M | 47.74M | 47.74M | 47.74M | 47.74M |
| Intangible Assets | 23.98M | 18.75M | 15.55M | 12.57M | 32.93M | 26.02M | 19.98M | 3.59M | 3.11M |
| Long-Term Investments | 0 | 0 | 0 | 10M | 1.4M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 16.21M | 108.22M | 4.83M | 5.6M | 4.81M | 8.4M | 29.6M |
| Total Assets | 87.37M▲ 0% | 105.4M▲ 20.6% | 210.34M▲ 99.6% | 289.8M▲ 37.8% | 170.08M▼ 41.3% | 153.93M▼ 9.5% | 262.45M▲ 70.5% | 383.83M▲ 46.3% | 367.71M▲ 0% |
| Asset Turnover | 3.40x | 3.87x | 2.78x | 2.23x | 2.70x | 2.52x | 3.29x | 2.90x | 3.66x |
| Asset Growth % | - | 20.64% | 99.57% | 37.78% | -41.31% | -9.5% | 70.5% | 46.25% | 138.06% |
| Total Current Liabilities | 33.46M | 47.91M | 107.45M | 84.22M | 76.89M | 79.72M | 132.95M | 147.65M | 113.17M |
| Accounts Payable | 27.01M | 40.45M | 98.25M | 61.77M | 53.99M | 56.28M | 105.56M | 91.09M | 91.4M |
| Days Payables Outstanding | 39.81 | 43.06 | 71.8 | 41.46 | 50.66 | 63.91 | 53.43 | 35.15 | 33.39 |
| Short-Term Debt | 1.19M | 873K | 0 | 8.73M | 8.77M | 11.85M | 8.85M | 22.77M | 7.17M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.41M | 0 | 0 | 0 | 0 | 0 | 994K | 33.78M | 14.6M |
| Current Ratio | 1.32x | 1.41x | 1.19x | 1.63x | 1.05x | 0.94x | 1.43x | 1.18x | 1.18x |
| Quick Ratio | 1.32x | 1.41x | 1.19x | 1.63x | 1.05x | 0.94x | 1.43x | 1.18x | 1.18x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | 14.26 |
| Total Non-Current Liabilities | 13.43M | 171.08M | 208M | 267.15M | 179.27M | 168.63M | 175.72M | 265.38M | 283.64M |
| Long-Term Debt | 13.06M | 96.67M | 182.67M | 178.07M | 174.3M | 162.44M | 153.6M | 132.02M | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 3.22M | 2.43M | 0 | 0 | 415K | 415K |
| Deferred Tax Liabilities | 0 | 0 | 22.5M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 369K | 74.42M | 2.83M | 85.87M | 2.54M | 6.18M | 22.13M | 132.95M | 433.76M |
| Total Liabilities | 46.89M | 218.99M | 315.45M | 351.37M | 256.17M | 248.35M | 308.68M | 413.02M | 396.81M |
| Total Debt | 14.25M | 97.54M | 182.67M | 190.78M | 186.29M | 174.3M | 162.44M | 155.2M | 7.17M |
| Net Debt | 8.59M | 87.51M | 159.11M | 140.22M | 171.75M | 157.03M | 119.18M | 108.33M | -18.88M |
| Debt / Equity | 0.35x | - | - | - | - | - | - | - | -0.25x |
| Debt / EBITDA | 0.46x | 3.20x | 7.93x | 34.67x | - | - | 3.29x | 1.91x | 0.07x |
| Net Debt / EBITDA | 0.27x | 2.87x | 6.91x | 25.48x | - | - | 2.41x | 1.33x | 1.33x |
| Interest Coverage | 16.18x | 3.54x | 2.46x | 0.27x | -3.83x | -2.33x | 3.75x | -8.88x | -3.99x |
| Total Equity | 40.48M▲ 0% | -113.6M▼ 380.6% | -105.12M▲ 7.5% | -61.57M▲ 41.4% | -86.08M▼ 39.8% | -94.42M▼ 9.7% | -46.23M▲ 51.0% | -29.19M▲ 36.9% | -29.09M▲ 0% |
| Equity Growth % | - | -380.62% | 7.46% | 41.43% | -39.82% | -9.69% | 51.04% | 36.85% | 82.84% |
| Book Value per Share | 1.22 | -111.76 | -3.27 | -1.01 | -2.05 | -2.07 | -0.87 | -0.44 | -0.52 |
| Total Shareholders' Equity | 40.48M | -113.6M | -33.77M | -4.34M | -15.99M | -10.29M | 2.38M | 4.16M | 1.92M |
| Common Stock | 75.95M | 79.55M | 589K | 606K | 626K | 655K | 671K | 645K | 629K |
| Retained Earnings | -35.47M | -193.14M | -418.97M | -424.48M | -482.14M | -522.56M | -505.93M | -480.31M | -468.84M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -513K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | -71.34M | -57.23M | -70.09M | -84.13M | -48.61M | -33.35M | -31.01M |
MAX Cash Flow Statement
MediaAlpha, Inc. (MAX) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 22.65M | 22.14M | 51.41M | 28.62M | 28.27M | 20.23M | 45.87M | 65.6M | 65.6M |
| Operating CF Margin % | 7.63% | 5.43% | 8.79% | 4.44% | 6.16% | 5.21% | 5.3% | 5.89% | - |
| Operating CF Growth % | - | -2.23% | 132.17% | -44.33% | -1.21% | -28.45% | 126.74% | 43% | -45.56% |
| Net Income | 18.13M | 17.82M | 10.56M | -8.47M | -72.45M | -56.55M | 22.12M | 26.76M | 39.04M |
| Depreciation & Amortization | 11.96M | 5.65M | 3.49M | 3.35M | 6.15M | 7.27M | 6.68M | 3.25M | 2.3M |
| Stock-Based Compensation | 824K | 2.31M | 24.75M | 45.71M | 58.47M | 53.32M | 34.08M | 30.33M | 30.57M |
| Deferred Taxes | 533K | 0 | -545K | 919K | 102.66M | 0 | 0 | -138.89M | -132.86M |
| Other Non-Cash Items | 15K | 1.02M | 4.17M | 2.83M | -80.52M | 2.9M | 9.06M | 138.92M | 127.65M |
| Working Capital Changes | -8.8M | -4.66M | 8.99M | -15.72M | 13.97M | 13.29M | -26.07M | 5.22M | -27.88M |
| Change in Receivables | -5.16M | -19.22M | -40.81M | 20.06M | 17.34M | 6.22M | -89.66M | 20.09M | -18.92M |
| Change in Inventory | 1.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -5.37M | 13.44M | 57.79M | -36.48M | -7.8M | 2.29M | 49.28M | -14.47M | 9.04M |
| Cash from Investing | -640K | -294K | -10.3M | -650K | -49.77M | -73K | -654K | -340K | -325K |
| Capital Expenditures | -640K | -146K | -296K | -650K | -98K | -73K | -254K | -340K | -325K |
| CapEx % of Revenue | 0.22% | 0.04% | 0.05% | 0.1% | 0.02% | 0.02% | 0.03% | 0.03% | - |
| Acquisitions | 0 | 0 | 0 | 0 | -49.68M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -10K | -148K | 0 | 0 | 0 | 0 | -400K | 0 | 0 |
| Cash from Financing | -25.45M | -17.48M | -27.59M | -961K | -14.52M | -17.43M | -19.22M | -61.65M | -77.53M |
| Debt Issued (Net) | -9.57M | 84.93M | 86.35M | 3.63M | -4.5M | -9.5M | -12.55M | -9.5M | 1.82M |
| Equity Issued (Net) | 0 | -67.27M | 38.41M | 0 | -5.01M | 0 | -6.31M | -47.27M | -35.71M |
| Dividends Paid | -15.88M | -95.64M | -131.42M | -338K | -2.13M | -2.85M | -1.22M | 0 | 0 |
| Share Repurchases | 0 | -67.27M | -85.77M | 0 | -5.01M | 0 | -6.31M | -47.27M | -35.71M |
| Other Financing | 0 | 60.5M | -20.93M | -4.25M | -2.88M | -5.08M | 854K | -4.88M | -43.64M |
| Net Change in Cash | -3.44M▲ 0% | 4.37M▲ 227.1% | 13.53M▲ 209.8% | 27.01M▲ 99.7% | -36.02M▼ 233.4% | 2.73M▲ 107.6% | 26M▲ 852.5% | 3.61M▼ 86.1% | -37.51M▲ 0% |
| Free Cash Flow | 22.01M▲ 0% | 21.85M▼ 0.7% | 51.11M▲ 133.9% | 27.97M▼ 45.3% | 28.18M▲ 0.7% | 20.16M▼ 28.5% | 45.62M▲ 126.3% | 65.26M▲ 43.1% | 40.02M▲ 0% |
| FCF Margin % | 7.41% | 5.36% | 8.74% | 4.33% | 6.14% | 5.19% | 5.28% | 5.86% | 3.45% |
| FCF Growth % | - | -0.73% | 133.94% | -45.28% | 0.73% | -28.46% | 126.3% | 43.05% | -40.47% |
| FCF per Share | 0.66 | 21.50 | 1.59 | 0.46 | 0.67 | 0.44 | 0.86 | 0.98 | 0.98 |
| FCF Conversion (FCF/Net Income) | 1.25x | 1.24x | 3.47x | -5.43x | -0.49x | -0.50x | 2.76x | 2.56x | 1.03x |
| Interest Paid | 0 | 6.4M | 6.04M | 5.6M | 7.07M | 13.77M | 13.94M | 0 | 3.52M |
| Taxes Paid | 0 | 0 | 0 | 307K | 0 | 0 | 228K | 0 | 190K |
MAX Key Ratios
MediaAlpha, Inc. (MAX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | - | - | - | - | - | -86.26% |
| Return on Invested Capital (ROIC) | 162.14% | 104.99% | 2.43% | -32.31% | -40.39% | 47.28% | 77.15% | 77.15% |
| Gross Margin | 15.95% | 14.6% | 15.73% | 15.26% | 17.19% | 16.6% | 14.78% | 14.89% |
| Net Margin | 4.37% | 2.53% | -0.82% | -12.56% | -10.41% | 1.92% | 2.3% | 3.37% |
| Debt / Equity | - | - | - | - | - | - | - | -0.25x |
| Interest Coverage | 3.54x | 2.46x | 0.27x | -3.83x | -2.33x | 3.75x | -8.88x | -3.99x |
| FCF Conversion | 1.24x | 3.47x | -5.43x | -0.49x | -0.50x | 2.76x | 2.56x | 1.03x |
| Revenue Growth | 37.42% | 43.34% | 10.34% | -28.86% | -15.45% | 122.78% | 28.78% | 15.66% |
MAX SEC Filings & Documents
MediaAlpha, Inc. (MAX) SEC filings — annual & quarterly reports (10-K, 10-Q)
MAX Frequently Asked Questions
MediaAlpha, Inc. (MAX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
MediaAlpha, Inc. (MAX) reported $1.16B in revenue for fiscal year 2025. This represents a 290% increase from $296.9M in 2018.
MediaAlpha, Inc. (MAX) grew revenue by 28.8% over the past year. This is strong growth.
Yes, MediaAlpha, Inc. (MAX) is profitable, generating $39.0M in net income for fiscal year 2025 (2.3% net margin).
Dividend & Returns
MediaAlpha, Inc. (MAX) generated $40.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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MediaAlpha, Inc. (MAX) financial analysis — history, returns, DCA and operating performance tools
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