MediaAlpha
MAX
9.67
-0.01
-0.10%
MediaAlpha
US · MAX
#3735 by market cap
Listed 2020
9.67
-0.01
-0.10%
Live - 5344 symbols - heartbeat 164s ago
· 2026-10-08 07:29
Pre-market
9.76
+0.93%
After-hours
9.67
0.00%
- Market cap
- 512.28M
- P/E (TTM)i
- 5.97
- P/Bi
- 18.04
- EPSi
- 0.39
- Div yieldi
- 0.00%
- 52W posi
- 34%
Reader sentiment
Are you bullish or bearish on MAX?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Fair
- Altman Z-Score is 2.28, in the 1.8-3.0 "grey zone".
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +28.78% YoY
Margins
- Gross margin
- 15.05%
- Operating margin
- 3.19%
- Net margin
- 2.30%
Key ratios & quality
- Enterprise valuei
- 618.81M
- Altman Z-Scorei
- 2.28
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 296.91M | 408.01M | 584.81M | 645.27M | 459.07M | 388.15M | 864.70M | 1.11B |
| Gross profit | 49.24M | 65.10M | 85.38M | 101.52M | 70.06M | 66.71M | 143.57M | 167.54M |
| Selling & admin expenses | 19.58M | 33.21M | 53.40M | 84.18M | 84.37M | 88.18M | 81.08M | 110.61M |
| Research & development | 10.34M | 7.04M | 12.45M | 15.20M | 21.08M | 18.46M | 19.76M | 21.40M |
| Operating profit | 19.32M | 24.84M | 19.54M | 2.15M | -35.39M | -39.92M | 42.73M | 35.54M |
| Pretax profit | 18.13M | 17.82M | 9.30M | -9.52M | 30.46M | -57.02M | 23.50M | -111.06M |
| Tax | 0 | 0 | -1.27M | -1.05M | 102.91M | -463.00K | 1.38M | -137.82M |
| Net profit | 18.13M | 17.82M | 10.56M | -8.48M | -72.45M | -56.56M | 22.12M | 26.76M |
| Basic EPS | 0 | 0 | 0 | 0 | -1 | -1 | 0 | 0 |
| Diluted EPS | 0.00 | 0.00 | -0.14 | -0.19 | -1.37 | -0.89 | 0.31 | 0.39 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 264.31M | 251.62M | 306.51M | 291.16M | 310.00M | 316.88M |
| Gross profit | 41.64M | 37.69M | 43.41M | 44.81M | 46.70M | 45.17M |
| Selling & admin expenses | 23.22M | 52.38M | 17.84M | 17.17M | 18.87M | 19.17M |
| Research & development | 4.89M | 5.35M | 5.83M | 5.33M | 5.46M | 6.04M |
| Operating profit | 13.53M | -20.04M | 19.73M | 22.31M | 22.37M | 19.96M |
| Pretax profit | -2.38M | -22.22M | 17.70M | -104.16M | 20.55M | 55.09M |
| Tax | -49.00K | 316.00K | 54.00K | -138.14M | 6.50M | 13.31M |
| Net profit | -2.33M | -22.53M | 17.64M | 33.99M | 14.05M | 41.78M |
| Basic EPS | 0 | 0 | 0 | 1 | 0 | 1 |
| Diluted EPS | -0.04 | -0.33 | 0.26 | 0.50 | 0.21 | 0.65 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 44.10M | 67.49M | 127.80M | 137.11M | 80.42M | 74.57M | 189.91M | 174.37M |
| Cash & ST investments | 5.66M | 10.03M | 23.55M | 50.56M | 14.54M | 17.27M | 43.27M | 46.88M |
| Inventory | -- | -- | -- | -- | -- | -- | -- | -- |
| Total assets | 87.37M | 105.40M | 210.34M | 289.80M | 170.08M | 153.93M | 262.45M | 383.83M |
| Total current liabilities | 33.46M | 47.91M | 107.46M | 84.22M | 76.89M | 79.72M | 132.95M | 147.65M |
| Short-term debt | 1.19M | 873.00K | -- | 8.73M | 8.77M | 11.85M | 8.85M | 21.81M |
| Long-term debt | 13.06M | 96.67M | 182.67M | 178.07M | 174.30M | 162.45M | 153.60M | 131.60M |
| Total liabilities | 46,886,000.00 | 218,993,000.00 | 315,455,000.00 | 351,370,000.00 | 256,165,000.00 | 248,350,000.00 | 308,679,000.00 | 413,025,000.00 |
| Total equity | 40.48M | -113.60M | -105.12M | -61.57M | -86.08M | -94.43M | -46.23M | -29.19M |
| Retained earnings | -35.47M | -193.14M | -418.97M | -424.48M | -482.14M | -522.56M | -505.93M | -480.31M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 182.47M | 192.47M | 205.74M | 174.37M | 165.21M | 171.34M |
| Cash & ST investments | 63.56M | 85.38M | 38.84M | 46.88M | 26.05M | 23.75M |
| Inventory | -- | -- | -- | -- | -- | -- |
| Total assets | 239.98M | 249.42M | 266.23M | 383.83M | 367.72M | 359.82M |
| Total current liabilities | 109.42M | 148.69M | 189.68M | 147.65M | 113.17M | 133.08M |
| Short-term debt | 8.86M | 8.87M | 22.00M | 21.81M | 7.17M | 7.17M |
| Long-term debt | 151.38M | 149.15M | 133.69M | 131.60M | 156.34M | 169.54M |
| Total liabilities | 281,167,000.00 | 306,375,000.00 | 332,007,000.00 | 413,025,000.00 | 396,807,000.00 | 364,764,000.00 |
| Total equity | -41.18M | -56.96M | -65.78M | -29.19M | -29.09M | -4.95M |
| Retained earnings | -507.88M | -526.62M | -511.72M | -480.31M | -468.84M | -429.41M |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 22.65M | 22.14M | 51.41M | 28.62M | 28.27M | 20.23M | 45.87M | 65.60M |
| Depreciation & amortization | 11.96M | 5.65M | 3.49M | 3.35M | 6.15M | 7.27M | 6.68M | 3.25M |
| Free cash flow | 22.01M | 21.85M | 51.11M | 27.97M | 28.18M | 20.16M | 45.22M | 65.26M |
| Dividends paid | -15.88M | -95.64M | -131.42M | -- | -2.13M | -2.85M | -1.22M | -1.25M |
| Stock buybacks / issuance | 0 | -67.27M | 38.41M | 0 | -5.01M | 0 | 0 | -47.27M |
| Ending cash balance | 5.66M | 10.03M | 23.55M | 50.56M | 14.54M | 17.27M | 43.27M | 46.88M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | 23.70M | 25.72M | 23.62M | -7.45M | -1.56M | 42.59M |
| Depreciation & amortization | 1.51M | 580.00K | 582.00K | 584.00K | 551.00K | 554.00K |
| Free cash flow | 23.64M | 25.55M | 23.56M | -7.49M | -1.60M | 41.81M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 0 | 0 | -32.89M | -14.38M | -20.27M | -20.60M |
| Ending cash balance | 63.56M | 85.38M | 72.34M | 46.88M | 26.05M | 23.75M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 0.00 | -- | -- | -- | -- | -- | -- | 783.82 |
| ROA %i | 0.00 | 18.49 | -2.77 | -2.11 | -25.08 | -24.95 | 7.99 | 7.93 |
| ROIC %i | 2.18 | -- | -- | -- | -- | -- | -- | 21.41 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 6.51 | 6.09 | 2.95 | -0.26 | 8.65 | -10.74 | 4.38 | -8.96 |
| FCF / sales %i | 7.41 | 5.36 | 8.74 | 4.33 | 6.14 | 5.19 | 5.23 | 5.86 |
| Current ratioi | 1.32 | 1.41 | 1.19 | 1.63 | 1.05 | 0.94 | 1.43 | 1.18 |
| Quick ratioi | 1.28 | 1.38 | 1.12 | 1.50 | 0.97 | 0.89 | 1.40 | 1.15 |
| Debt / assetsi | 16.31 | 92.54 | 86.85 | 64.46 | 107.64 | 113.24 | 61.90 | 39.97 |
| LT debt / equityi | 32.27 | -- | -- | -- | -- | -- | 6,459.04 | 3,163.51 |
| Interest coveragei | 16.18 | 3.54 | 2.17 | -0.22 | 4.29 | -2.72 | 2.64 | -8.88 |
| Revenue CAGR (3Y) %i | -- | -- | -- | 29.53 | 4.01 | -12.77 | 10.25 | 34.36 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | 8.32 | 8.85 | -26.67 | 17.36 | 32.31 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | -- | -- | -- | 783.82 | 793.78 | 789.17 |
| ROA %i | 8.04 | -2.93 | -0.46 | 7.93 | 12.85 | 31.91 |
| ROIC %i | -- | -- | -- | 21.41 | 27.27 | 57.66 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 3.60 | 0.78 | 1.17 | -8.96 | -6.68 | -0.02 |
| FCF / sales %i | 6.71 | 6.63 | 7.77 | 5.86 | 3.45 | 4.60 |
| Current ratioi | 1.67 | 1.29 | 1.08 | 1.18 | 1.46 | 1.29 |
| Quick ratioi | 1.63 | 1.27 | 0.89 | 1.15 | 1.41 | 1.24 |
| Debt / assetsi | 66.77 | 63.36 | 58.48 | 39.97 | 44.46 | 49.11 |
| LT debt / equityi | 1,911.54 | -- | -- | 3,163.51 | 8,155.24 | 596.73 |
| Interest coveragei | 2.68 | 0.67 | 1.11 | -8.88 | -7.21 | -0.02 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Single-engine
- Property & Casualty insurance is the largest reported line at 97.45% of revenue, across 4 reported segments.
- The next-largest line, Life Insurance, is a distant second at 1.62% - a sharp slowdown here would have little to offset it.
Revenue breakdown most recent period
Business
Property & Casualty insurance97.45%
Life Insurance1.62%
Health insurance0.86%
Quote time 2026-10-08 07:29:45 · For reference only, not investment advice and not tailored to your situation.