MAXNYSEServices-Business Services, NECFiscal year ends December 31
MediaAlpha, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 29, 2026
$11.30−0.20 (-1.74%)
Close on Oct 19, 2026
- Market cap
- $701.42M
- P/E (TTM)
- 7.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
15.0%+0.4 pts over 5 years
Operating margin
2.0%−1.4 pts over 5 years
Net margin
2.3%+3.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +28.8% | +34.4% | +13.7% | – | |
| Gross profit | +16.7% | +33.7% | +14.4% | – | |
| Operating income | -48.2% | – | +2.5% | – | |
| Net income | +54.1% | – | – | – | |
| EPS, diluted | +25.8% | – | – | – | |
| Free cash flow | +43.1% | +32.3% | +5.0% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 5.9% | 783.8% | |
| Return on assets | – | -2.8% | 7.9% | |
| Current ratio | – | 1.19 | 1.18 | |
| Debt to equity | – | -5.41 | 36.88 | |
| Net debt to EBITDA | – | 8.02× | – | |
| Interest coverage | 16.2× | 2.5× | 2.0× | |
| Capex to revenue | 0.2% | 0.1% | 0.0% | |
| Diluted shares | – | 32M | 67M |
Where the cash went
Fiscal 2021 to 2025, five years combined
MediaAlpha generated $188.60M from operations and spent $53.69M on capital expenditure, dividends and share buybacks. 3% of that went back into the business.
Generated
$188.60M
Used
$53.69M
Capital expenditure$1.42M3%Dividends$00%Share buybacks$52.28M97%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin2.3%
×Asset turnover3.45×
×Equity multiplier98.85×
=Return on equity, FY2025783.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 2.3% | 3.45× | 98.85× | 783.8% |
| FY2024 | 1.9% | 4.15× | -52.60× | -420.1% |
| FY2023 | -10.4% | 2.40× | -12.33× | 307.5% |
| FY2022 | -12.6% | 2.00× | -22.62× | 567.3% |
| FY2021 | -0.8% | 2.58× | -13.12× | 27.7% |
| FY2020 | -0.7% | 3.70× | -2.14× | 5.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$25.62M
- Cash generatingOperating cash flow above zero$65.60M
- Return on assets improvedROA up on the prior year10.8% → 9.8%
- Earnings backed by cashOperating cash flow above net income$65.60M vs $25.62M
- Less leverageLong-term debt to assets fell58.5% → 34.3%
- Better liquidityCurrent ratio rose1.43 → 1.18
- No dilutionShare count did not rise53M → 67M
- Gross margin improvedGross margin up on the prior year16.60% → 15.05%
- More efficientAsset turnover rose5.62 → 4.24