Mediaalpha, Inc.

Consumer Discretionary
Business Services
www.mediaalpha.com

Earnings Score
Safety Score

Market Cap $567.39M
Debt $173.49M
Cash $32.30M
EV $708.57M
FCF $36.42M

Earnings

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Sales & Net Margins

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Earnings	$8.70M
EBIT	$24.92M
ROA	11%
FCF	$36.42M
Equity	-$8.36M
Growth Stability	-4K%
PE	65.25
PEG	-32.47
PB	-67.84
P/FCF	15.58
P/S	0.83
Price/Cash	0.06
Debt/Equity	-20.74
Debt/FCF	4.76
Net Margins	2%
Gross Margins	17%
Op. Margins	4%
Earnings CAGR	-1%
Sales Growth YoY	247%
Sales Growth QoQ	45%
Sales CAGR	-4%
FCF CAGR	-5%
Equity CAGR	-5%
Earnings Stability	-0.53
Earnings Growth YoY	-151%

Earnings Growth QoQ	137%
Earnings CAGR 5Y	-2%
Sales CAGR 5Y	-4%
FCF CAGR 5Y	-5%
Equity CAGR 5Y	-6%
Earnings CAGR 3Y	-7%
Sales CAGR 3Y	-7%
FCF CAGR 3Y	-28%
Market Cap	$567.39M
Revenue	$681.23M
Assets	$236.11M
Total Debt	$173.49M
Cash	$32.30M
Shares Outstanding	52.29M
EV	708.57M
Earnings Score	6%
Safety Score	33%
Working Capital	29.44M
Current Ratio	1.22
Gross Profit	$116.87M
Shares Growth 3y	11%
Equity Growth QoQ	-66%
Equity Growth YoY	-49%

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.

2024
- 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
2022
- 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 -53%

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Mediaalpha, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Mediaalpha, Inc..

Years

Calculation mode

= $269M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$36M	$35M	$33M	$32M	$30M	$29M	$27M	$26M	$25M	$24M	$23M	$228M
DCF		$32M	$27M	$24M	$21M	$18M	$16M	$13M	$12M	$10M	$8.8M	$88M
Value	$269M

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	TTM
Net Margins	6%	4%	-1%	-1%	-16%	-15%	2%
ROA	-	24%	9%	1%	18%	-26%	11%
ROE	-	22%	13%	195%	453%	549%	-

Bad Net Margins (2.13%)

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	TTM
Debt over FCF	-	4.43	3.57	6.99	6.81	9.23	4.76
Debt over Equity	-	1.23	-5.41	-45.08	-12	-18.08	-20.74
Growth Stability	-	-	-	-81%	-4K%	-	-4K%

Bad Debt/FCF ratio (4.76)

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

Good Debt/Equity ratio (-20.74)

The company is not overleveraged and has a good 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	CAGR 5Y
Revenue YoY growth	-	37%	43%	10%	-29%	-15%	-4%
Earnings YoY growth	-	-2%	-125%	94%	755%	-22%	-2%
Equity YoY growth	-	97%	-142%	-87%	269%	-36%	-6%
FCF YoY growth	-	-0%	132%	-45%	1%	-28%	-5%