MediaAlpha, Inc. · Business Services, NEC

MAX

Moderate riskNext report: In 0 days (est.)

View price ↗

The short version

A profitable company with growing sales.

Going well

Sales up 26% in the latest quarter vs a year ago
Profitable
Sales up 29% last year

Watch out for

Share count growing 16.8% a year (dilution)
High debt: 36.88x equity

Money moves

Insiders sold $992K in the last 30 days, all through pre-planned sales
Institutions added 1.1% to their holdings in the quarter ending June 2026 (67 bought, 92 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$11.89-0.1% that day

Company value: $738M; Share price times all shares
Price vs profit (P/E): 7.3x; You pay about $7 for each $1 of yearly profit
Price vs sales: 0.60x; Company value is 0.60 times a year of sales
Cash vs value: 3%; Cash as a share of company value
Debt vs value: 21%; Debt as a share of company value

From MAX's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$316.9M+26% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $1.2B, up 14% from the 12 months before. Over 5 years, sales grew about 14% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of MAX. Starting points are the company's recent numbers.

Sales growth+14% a yearRecently: +14% a yearProfit margin8%Last 12 months: 7.9%P/E at the end8xToday: 7.3x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$2.4B

Profit in 5 years$189M

Price these guesses point to$15.09+27% vs $11.89 todayAbout +4.9% a year, before dividends

What today's price needs: with a 8% margin and a 8x P/E, sales would have to grow about 8.7% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

1/5Weak

MissDebt under half of equityNot relying on borrowed money.36.88x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.2.3%
MissProfitable every yearSteady profits, not one good year.4 of 8 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$65.3M
MissShare count not growingNot diluting owners. Falling means buybacks.+59.2% in 3 years

Revenue: $1.1B; +28.8% vs prior year
5-year growth: +13.7%/yr; revenue, per year
Total debt: $153.4M; 36.88x equity
Current ratio: 1.18x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Jul 29

Revenue: $316.9M; +25.9% YoY
EPS: $0.65; vs -$0.33
Op. margin: 6.3%; +14.3 pts
Gross margin: 14.3%; -0.7 pts
Free cash flow: $41.8M
Share count: +10.6%; vs a year ago

Insider rating

Last 90 days

45Mixed

Pre-planned sales of $1.0M (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

52/ 100

This week: 3
Normal week: 2.7
vs normal: 1.1x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+1.1%

Institutions added 1.1% to their holdings. 67 bought, 92 sold. 2 quarters of net buying in a row.

Shares held by institutions48.7M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+11.2%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

6.2x · $176.7M debt

Shares outstandingLatest reported

62M

Why moderate risk

Share count growing 11.2% a year (dilution)
High debt: 6.22x equity

Earnings reports

Last 12

Next reportIn 0 days (est.)Estimated from the same quarter last year

Results filedJul 29
Results filedApr 29
Results filedFeb 23
Results filedOct 29, 2025
Results filedAug 6, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (active)Aug 26 · View filing ↗Activist

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$1.0M4 insiders, 6 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Eugene NonkoDirector	Sell	28K	$11.57	$320K	813K	Oct 21Filing ↗
-3.3% of their holdings $11.39 to $11.72 across 6 trades Traded Oct 19 to Oct 21 Held via O.N.E. Holdings,LLC Pre-planned sale (10b5-1) Filed same day
Keith CramerChief Revenue Officer	Sell	12K	$11.39	$137K	239K	Oct 19Filing ↗
-4.8% of their holdings Pre-planned sale (10b5-1) Filed 2 days after
Kuanling Amy YehChief Technology Officer	Sell	3K	$11.77	$35K	543K	Oct 16Filing ↗
-0.5% of their holdings Pre-planned sale (10b5-1) Filed 3 days after
Eugene NonkoDirector	Sell	23K	$10.21	$237K	835K	Oct 14Filing ↗
-2.7% of their holdings $10.11 to $10.41 across 6 trades Traded Oct 12 to Oct 14 Held via O.N.E. Holdings,LLC Pre-planned sale (10b5-1) Filed same day
Steven YiSee Remarks	Sell	26K	$10.11	$263K	2M	Oct 9Filing ↗
-1.1% of their holdings $10.04 to $11.01 across 2 trades Traded Oct 8 to Oct 9 Pre-planned sale (10b5-1) Also Director Filed same day
Kuanling Amy YehChief Technology Officer	Sell	3K	$9.40	$28K	546K	Sep 25Filing ↗
-0.5% of their holdings Pre-planned sale (10b5-1) Filed same day