MediaAlpha, Inc. (MAX) stock

MAXNYSEServices-Business Services, NECFiscal year ends December 31

Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 28, 2026Score 14/3059% below fair value

$14.97+0.60 (+4.18%)

Close on Nov 11, 2026Market cap $886.11MP/E 8.3Yield –

MediaAlpha statistics

99 measures from SEC filings and the closing price. Hover a name for the formula; the last column is the median of companies in the same industry group.

Important dates

Next earnings: Feb 22, 2027 (estimated, after the close)
Last ex-dividend date: No dividends
Fundamentals through: Sep 30, 2026
Share price as of: Nov 11, 2026

Valuation ratiosIndustry

Market Cap: $886.11M; $808.04M
Enterprise Value: $1.01B; $765.06M
PE Ratio: 8.32; 26.61
PS Ratio: 0.68; 2.34
PB Ratio: 17.26; 2.78
P/TBV Ratio: 619.22; 4.87
P/FCF Ratio: 16.35; 15.69
P/OCF Ratio: 16.06; 13.22

Enterprise valuationIndustry

EV / Sales: 0.78; 2.10
EV / EBITDA: 10.81; 16.27
EV / EBIT: 10.81; 21.27
EV / FCF: 18.65; 15.19

Share statisticsIndustry

Shares Outstanding: 59M; 58M
Shares Change (YoY): 9.81%; 2.03%
Float: 36M; 53M
Shares Held by Insiders: 39.2%; 13.1%
Shares Held by Institutions: 82.2%; 62.8%

Short sellingIndustry

Short Interest: 3M; –
Short Interest Change: 3.80%; -3.30%
Short % of Float: 9.29%; 5.81%
Short % of Shares Outstanding: 5.65%; 4.26%
Days to Cover: 3.12; 3.54

Stock price statisticsIndustry

52-Week High: $15.99; –
52-Week Low: $7.09; –
20-Day Moving Average: $13.17; –
50-Day Moving Average: $11.59; –
200-Day Moving Average: $10.77; –
Average True Range (14): $0.81; –
Price Change (1 Week): -0.53%; -1.14%
Price Change (1 Month): 43.0%; -0.89%
Price Change (3 Months): 12.8%; -7.73%
Price Change (6 Months): 76.7%; 1.79%
Price Change (YTD): 15.6%; -12.4%
Price Change (1 Year): 15.6%; -13.6%
Price Change (3 Years): 62.9%; -13.1%
Price Change (5 Years): -13.4%; -55.9%
Average Volume (10 Days): 2M; –
Average Volume (20 Days): 1M; –
Average Volume (90 Days): 962,193; –
Relative Volume: 1.20; 0.73
Relative Strength Index (14): 70.1; 49.4
Volatility (1 Year): 56.9%; 65.3%
Beta (5 Years): 0.87; 1.20

MarginsIndustry

Gross Margin: 14.8%; 55.8%
Operating Margin: 7.22%; -2.02%
Pretax Margin: 0.67%; -0.57%
Profit Margin: 8.35%; -2.45%
EBITDA Margin: 7.22%; 0.85%
FCF Margin: 4.19%; 9.75%

Returns on capitalIndustry

Return on Equity (ROE): 1001.9%; 1.34%
Return on Assets (ROA): 33.9%; -3.09%
Return on Invested Capital (ROIC): 71.6%; -0.50%
Return on Capital Employed (ROCE): 41.3%; -0.55%

Financial positionIndustry

Current Ratio: 1.32; 1.38
Quick Ratio: 1.27; 0.93
Debt / Equity: 3.41; 0.52
Debt / EBITDA: 1.87; 2.61
Debt / FCF: 3.23; 2.79
Net Debt / EBITDA: 1.67; 1.45
Interest Coverage: 8.83; -0.56

GrowthIndustry

Revenue Growth (YoY): 15.2%; 9.48%
FCF Growth (YoY): -37.9%; 14.5%
Revenue Growth (3Y CAGR): 34.4%; 7.52%
Revenue Growth (5Y CAGR): 13.7%; 12.3%

EfficiencyIndustry

Asset Turnover: 4.05; 0.64
Revenue Per Employee: $8.80M; $396.32K
Profits Per Employee: $735.14K; -$6.25K
Employee Count: 147; 525
WACC: 8.70%; 10.2%

Income statement (TTM)Industry

Revenue: $1.29B; $257.79M
Gross Profit: $192.01M; $158.22M
Operating Income: $93.48M; -$578.69K
Pretax Income: $8.65M; -$282.31K
Net Income: $108.07M; -$296.46K
EBITDA: $93.48M; -$75.39K
EPS (Diluted): $1.80; $0.00

Balance sheetIndustry

Cash & Short-Term Investments: $18.68M; $40.48M
Total Debt: $174.92M; $179.41M
Net Cash (Debt): -$156.24M; $1.71M
Net Cash Per Share: -$2.64; $0.12
Equity (Book Value): $51.33M; $51.00M
Book Value Per Share: $0.87; $1.99
Tangible Book Value: $1.43M; $2.87M
Working Capital: $47.01M; $14.89M

Cash flow (TTM)Industry

Operating Cash Flow: $55.19M; $6.40M
Capital Expenditures: -$984.00K; -$5.62M
Free Cash Flow: $54.20M; $36.20M
FCF Per Share: $0.92; $0.54

Dividends and yieldsIndustry

Earnings Yield: 12.2%; 0.37%
FCF Yield: 6.12%; 4.27%
Buyback Yield: 7.28%; 3.33%
Shareholder Yield: 7.28%; 3.67%

Taxes and interestIndustry

Interest Expense: $10.59M; $3.42M
Income Tax: -$110.53M; $1.64M
Effective Tax Rate: -1278.0%; 22.4%

Scores and fair valueIndustry

Graham Number: $5.93; $16.66
Graham Upside: -60.4%; -56.1%
Altman Z-Score: 4.45; 2.04
Piotroski F-Score: 4; 5

Total return vs. the S&P 500

Price change plus reinvested dividends, to the close on Nov 11, 2026. The S&P 500 is measured by the SPY fund.

Period	MAX	S&P 500	Difference	MAX per year	S&P 500 per year
1 month	+48.4%	-2.4%	+50.8 pts
3 months	+14.2%	-1.2%	+15.3 pts
Year to date	+15.6%	+12.3%	+3.3 pts
1 year	+12.6%	+12.4%	+0.2 pts
3 years	+62.9%	+78.8%	−15.9 pts	+17.7%	+21.4%
5 years	-6.0%	+75.2%	−81.2 pts	-1.2%	+11.9%

Short interest

Shares sold short and not yet covered, reported by brokers to FINRA twice a month. Latest settlement date Oct 30, 2026.

3M MAX shares were sold short on Oct 30, 2026, up 3.8% from the previous report, or 9.29% of the shares available to trade. At recent volumes it would take 3.1 days to buy them back. Over the last 20 sessions, 29.8% of the volume reported to FINRA was short selling.

Settlement date	Shares short	Change	Avg. daily volume	Days to cover
Oct 30, 2026	3,342,146	+3.8%	1,070,320	3.1
Oct 15, 2026	3,219,791	+13.7%	1,157,583	2.8
Sep 30, 2026	2,831,462	-7.1%	900,502	3.1
Sep 15, 2026	3,047,075	-3.4%	616,614	4.9
Aug 31, 2026	3,153,546	+10.0%	585,059	5.4
Aug 14, 2026	2,866,591	+0.6%	735,533	3.9
Jul 31, 2026	2,848,781	+4.9%	1,186,422	2.4
Jul 15, 2026	2,714,948	-8.0%	1,020,972	2.7
Jun 30, 2026	2,950,610	-17.2%	825,867	3.6
Jun 15, 2026	3,563,013	+7.7%	600,026	5.9
May 29, 2026	3,307,340	+1.2%	510,663	6.5
May 15, 2026	3,267,829	+4.9%	606,532	5.4