SequelSEC

MediaAlpha, Inc. MAX

Services-Business Services, NEC · CIK 0001818383 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$1.29B
Fiscal year ended 2026-09-30
Operating income
$93.48M
Fiscal year ended 2026-09-30
Free cash flow
$54.20M
Fiscal year ended 2026-09-30

Valuation, from the filing

Public float$367.10MMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float / net income14.3×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue0.3×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Services-Business Services, NEC filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Gross margin15.0%7th
CapEx / revenue0.0%8th
Revenue YoY growth28.8%84th
R&D / revenue1.9%21th
FCF margin5.9%36th
SBC / revenue2.7%42th
Net margin2.3%46th
Operating margin2.0%48th
Current ratio1.18x50th

MediaAlpha, Inc. (MAX) reported revenue of $1.29B and net income of $108.06M for the fiscal year ended 2026-09-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from MediaAlpha, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Business Services, NEC.

Income

MediaAlpha, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-30
Revenue$1.29B
Cost of revenue$1.10B
Gross profit$192.01M
Operating income$93.48M
Net income$108.06M
Research & development$23.04M
Weighted-average diluted sharesUnavailable
Pretax income$8.65M
Income tax expense-$110.53M
Diluted EPSUnavailable
Selling, general & administrative$75.49M
General & administrative$54.78M
Selling & marketing$20.71M

Balance

MediaAlpha, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-30
Cash & equivalents$18.68M
Total assets$372.22M
Current assets$192.71M
Total liabilities$352.47M
Current liabilities$145.70M
Total equity incl. NCI$19.76M
Temporary (mezzanine) equityUnavailable
InventoryUnavailable
Accounts receivable$166.94M
Goodwill$47.74M
Long-term debt$167.75M
Accounts payable$121.72M

Cash flow

MediaAlpha, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-30
Operating cash flow$55.19M
Capital expenditures$984.00K
Investing cash flow-$984.00K
Financing cash flow-$107.87M
Net change in cash-$53.66M
Stock-based compensation$31.39M
Common dividends paidUnavailable
Common share repurchasesUnavailable
Depreciation & amortizationUnavailable

Derived

MediaAlpha, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-09-30
Free cash flow$54.20M
Gross margin14.8%
Operating margin7.2%
FCF margin4.2%
SBC / revenue2.4%
Current ratio1.32x
Revenue YoY growth15.2%
Net margin8.4%
R&D / revenue1.8%
CapEx / revenue0.1%
Long-term debt / equity8.49x
Effective tax rate-1278.1%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MAX in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-10-28View SEC filing
10-Q · Filed 2026-07-29View SEC filing
10-Q · Filed 2026-04-29View SEC filing
10-K · Filed 2026-02-23View SEC filing
10-Q · Filed 2025-10-29View SEC filing
10-Q · Filed 2025-08-06View SEC filing

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.