MediaAlpha, Inc.

MAX

$11.94

-2.29%

2026-09-04 11:05:13 EDT-$0.28

Communication Services

Internet Content & Information

NYSE

Active Trading

MediaAlpha, Inc. (MAX) runs a dedicated platform in the United States designed to enhance customer acquisition within the insurance sector. It specializes ...

Financial Highlights of MAX

Profitability trend

Latest / TTM · 6 periods

Gross Margin

14.7%

Net Margin

7.9%

P/E Ratio

6.98x

n/a

Debt / Equity

6.22

n/a

Current Ratio

1.29

Dividend Yield

0.0%

Understanding

TTM —

High debt to equity

Financial highlights

Latest / TTM · 6 periods

Snapshot

Latest / TTM: 2026-09-04

Gross Margin

14.7%

Net Margin

7.9%

P/E Ratio

6.98x

Debt / Equity

6.22

Profitability

Profitability table

Metric	2021	2022	2023	2024	2025	2026
Gross MarginGross profit as a percentage of revenue.	15.7%	15.3%	17.2%	16.6%	14.8%	—
Operating MarginOperating income as a percentage of revenue.	0.3%	-7.7%	-10.3%	4.9%	7.0%	—
Net MarginNet income as a percentage of revenue.	-0.8%	-12.6%	-10.4%	1.9%	2.3%	—
EBITDA MarginEBITDA divided by revenue.	0.3%	10.0%	-7.3%	7.0%	-8.7%	—
Pre-tax MarginPre-tax profit as a percentage of revenue.	-1.5%	6.6%	-14.7%	2.7%	-10.0%	—

Liquidity & leverage

Liquidity & leverage table

Metric	2021	2022	2023	2024	2025	2026
Current RatioCurrent assets divided by current liabilities.	1.63	1.05	0.94	1.43	1.18	—
Quick RatioLiquid assets divided by current liabilities.	1.63	1.05	0.94	1.43	1.18	—
Cash RatioCash and equivalents divided by current liabilities.	0.60	0.19	0.22	0.33	0.32	—
Debt / AssetsDebt as a share of total assets.	65.8%	109.5%	113.2%	61.9%	40.4%	—
Debt / EquityDebt compared with shareholder equity.	-43.99	-11.65	-16.93	68.31	37.31	—

Operating efficiency

Operating efficiency table

Metric	2021	2022	2023	2024	2025	2026
Receivables TurnoverHow often receivables are collected in a year.	8.48x	7.65x	7.22x	6.05x	9.05x	—
Inventory TurnoverHow often inventory is sold in a year.	0.00x	0.00x	0.00x	0.00x	0.00x	—
Payables TurnoverHow often payables are paid in a year.	8.80x	7.21x	5.71x	6.83x	10.39x	—
Asset TurnoverRevenue generated per dollar of assets.	2.23x	2.70x	2.52x	3.29x	2.90x	—
Working Capital TurnoverRevenue generated per dollar of working capital.	17.62x	16.27x	-479.20x	33.38x	26.62x	—

Valuation ratios

Valuation ratios table

Metric	2021	2022	2023	2024	2025	2026
P/E RatioPrice paid for each dollar of earnings.	-110.29x	-7.26x	-12.53x	36.42x	28.15x	—
P/B RatioPrice paid for each dollar of book value.	-101.13x	-26.10x	-49.19x	251.83x	175.09x	—
P/S RatioPrice paid for each dollar of sales.	0.68x	0.91x	1.30x	0.69x	0.65x	—
P/FCF RatioPrice paid for each dollar of free cash flow.	15.68x	14.81x	25.12x	13.13x	11.16x	—
Dividend YieldAnnual dividend divided by current share price.	0.1%	0.5%	0.6%	0.2%	0.0%	—

Supply Chain of MAX

RELATIONS

Upstream

Alphabet Inc. (Google)NASDAQ:GOOGL Microsoft Corporation (Bing)NASDAQ:MSFTInsurifyAmazon Web Services (AWS)NASDAQ:AMZNInsurance comparison publisher partners (CarInsurance.com, Insurance.com, Insure.com, NerdWallet, etc.)

Downstream

The Progressive CorporationNYSE:PGR The Allstate CorporationNYSE:ALL GEICO (Berkshire Hathaway subsidiary)NYSE:BRK.BState Farm Mutual Automobile Insurance CompanyThe Travelers Companies, Inc.NYSE:TRVLiberty Mutual Insurance (private)Farmers Insurance Group (private)Health & Life insurance carrier partners (various)Insurance agencies and brokers (MediaAlpha for Agents platform)

Proxies

EverQuote, Inc.NASDAQ:EVER QuinStreet, Inc.NASDAQ:QNST SelectQuote, Inc.NYSE:SLQT GoHealth, Inc.NASDAQ:GOCO

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