Mediaalpha, Inc.

Consumer Discretionary
Business Services
www.mediaalpha.com

Earnings Score
Safety Score

Market Cap $551.04M
PE 35
Debt $169.09M
Cash $63.56M
EV $656.57M
FCF $67.62M

Earnings

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Sales & Net Margins

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Earnings	$15.79M
EBIT	$40.47M
ROE	199%
ROA	17%
FCF	$67.62M
Equity	$7.92M
Growth Stability	-4K%
PE	34.91
PEG	39.39
PB	69.58
P/FCF	8.15
P/S	0.55
Price/Cash	0.12
Debt/Equity	21.35
Debt/FCF	2.5
Net Margins	-1%
Gross Margins	16%
Op. Margins	4%
Earnings CAGR	-1%
Sales Growth YoY	109%
Sales Growth QoQ	-12%
Sales CAGR	2%
FCF CAGR	4%
Equity CAGR	-6%
Earnings Stability	-0.47
Earnings Growth YoY	57%

Earnings Growth QoQ	-150%
Earnings CAGR 5Y	1%
Sales CAGR 5Y	-1%
FCF CAGR 5Y	4%
Equity CAGR 5Y	3%
Earnings CAGR 3Y	23%
Sales CAGR 3Y	23%
FCF CAGR 3Y	-1%
Equity CAGR 3Y	11%
Market Cap	$551.04M
Revenue	$1.00B
Assets	$239.98M
Total Debt	$169.09M
Cash	$63.56M
Shares Outstanding	55.63M
EV	656.57M
Earnings Score	6%
Safety Score	41%
Working Capital	73.05M
Current Ratio	1.67
Gross Profit	$161.53M
Shares Growth 3y	12%
Equity Growth QoQ	233%
Equity Growth YoY	-142%

Assets & ROA

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Stockholders Equity & ROE

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MediaAlpha Inc provides a platform that facilitates insurance carriers and distributors target and acquire customers. The company's technology platform brings insurance carriers and consumers together through a real-time, transparent, and results-driven ecosystem. It acts as a customer acquisition channel in the areas of property & casualty insurance, health insurance, and life insurance. The company operates in the United States and generates revenue by earning a fee for each consumer referral sold on its platform.

SEC Filings

Direct access to Mediaalpha, Inc. (MAX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Mediaalpha, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Mediaalpha, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -1%

Stability -47%

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Mediaalpha, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Mediaalpha, Inc..

Years

Calculation mode

= $920M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$68M	$71M	$74M	$77M	$81M	$84M	$88M	$92M	$96M	$100M	$105M	$1B
DCF		$64M	$61M	$58M	$55M	$52M	$50M	$47M	$45M	$43M	$40M	$404M
Value	$920M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	6%	4%	-1%	-1%	-16%	-15%	2%	-1%
ROA	-	24%	9%	1%	18%	-26%	16%	17%
ROE	-	22%	13%	195%	453%	549%	699%	199%

Bad Net Margins (-0.88%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	4.43	3.57	6.99	6.81	9.23	3.75	2.5
Debt over Equity	-	1.23	-5.41	-45.08	-12	-18.08	72.03	21.35
Growth Stability	-	-	-	-81%	-4K%	-	-	-4K%

Neutral Debt/FCF ratio (2.5)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Bad Debt/Equity ratio (21.35)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (-4K%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	37%	43%	10%	-29%	-15%	123%	-1%
Earnings YoY growth	-	-2%	-125%	94%	755%	-22%	-129%	1%
Equity YoY growth	-	97%	-142%	-87%	269%	-36%	-123%	3%
FCF YoY growth	-	-0%	132%	-45%	1%	-28%	126%	4%