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MEDIAALPHA INC-CLASS A (MAX) Stock Fundamental Analysis

NYSE:MAX - New York Stock Exchange, Inc. - US58450V1044 - Common Stock - Currency: USD

10.46  -0.36 (-3.33%)

After market: 10.46 0 (0%)

Fundamental Rating

5

MAX gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 71 industry peers in the Interactive Media & Services industry. MAX has only an average score on both its financial health and profitability. MAX is growing strongly while it also seems undervalued. This is an interesting combination


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

MAX had positive earnings in the past year.
MAX had a positive operating cash flow in the past year.
MAX had negative earnings in 4 of the past 5 years.
Each year in the past 5 years MAX had a positive operating cash flow.
MAX Yearly Net Income VS EBIT VS OCF VS FCFMAX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 50M -50M

1.2 Ratios

With an excellent Return On Assets value of 6.58%, MAX belongs to the best of the industry, outperforming 81.69% of the companies in the same industry.
The Return On Equity of MAX (199.44%) is better than 100.00% of its industry peers.
MAX has a better Return On Invested Capital (36.11%) than 98.59% of its industry peers.
Industry RankSector Rank
ROA 6.58%
ROE 199.44%
ROIC 36.11%
ROA(3y)-17.95%
ROA(5y)-11.55%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
MAX Yearly ROA, ROE, ROICMAX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 200 400 600

1.3 Margins

The Profit Margin of MAX (1.58%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of MAX has declined.
Looking at the Operating Margin, with a value of 5.95%, MAX is in the better half of the industry, outperforming 66.20% of the companies in the same industry.
In the last couple of years the Operating Margin of MAX has declined.
With a Gross Margin value of 16.12%, MAX is not doing good in the industry: 87.32% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of MAX has declined.
Industry RankSector Rank
OM 5.95%
PM (TTM) 1.58%
GM 16.12%
OM growth 3Y147.63%
OM growth 5Y-25.49%
PM growth 3YN/A
PM growth 5Y-15.11%
GM growth 3Y1.82%
GM growth 5Y-10.7%
MAX Yearly Profit, Operating, Gross MarginsMAX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

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5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), MAX is creating value.
MAX has more shares outstanding than it did 1 year ago.
The number of shares outstanding for MAX has been increased compared to 5 years ago.
Compared to 1 year ago, MAX has an improved debt to assets ratio.
MAX Yearly Shares OutstandingMAX Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
MAX Yearly Total Debt VS Total AssetsMAX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

2.2 Solvency

An Altman-Z score of 4.22 indicates that MAX is not in any danger for bankruptcy at the moment.
With a decent Altman-Z score value of 4.22, MAX is doing good in the industry, outperforming 73.24% of the companies in the same industry.
The Debt to FCF ratio of MAX is 2.38, which is a good value as it means it would take MAX, 2.38 years of fcf income to pay off all of its debts.
MAX's Debt to FCF ratio of 2.38 is fine compared to the rest of the industry. MAX outperforms 69.01% of its industry peers.
A Debt/Equity ratio of 19.12 is on the high side and indicates that MAX has dependencies on debt financing.
MAX's Debt to Equity ratio of 19.12 is on the low side compared to the rest of the industry. MAX is outperformed by 88.73% of its industry peers.
Even though the debt/equity ratio score it not favorable for MAX, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 19.12
Debt/FCF 2.38
Altman-Z 4.22
ROIC/WACC4.09
WACC8.83%
MAX Yearly LT Debt VS Equity VS FCFMAX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M

2.3 Liquidity

MAX has a Current Ratio of 1.67. This is a normal value and indicates that MAX is financially healthy and should not expect problems in meeting its short term obligations.
MAX has a Current ratio of 1.67. This is in the lower half of the industry: MAX underperforms 60.56% of its industry peers.
A Quick Ratio of 1.67 indicates that MAX should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.67, MAX is not doing good in the industry: 60.56% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 1.67
Quick Ratio 1.67
MAX Yearly Current Assets VS Current LiabilitesMAX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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8

3. Growth

3.1 Past

MAX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 177.94%, which is quite impressive.
The Earnings Per Share has been growing slightly by 0.88% on average over the past years.
The Revenue has grown by 148.59% in the past year. This is a very strong growth!
MAX shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.21% yearly.
EPS 1Y (TTM)177.94%
EPS 3YN/A
EPS 5Y0.88%
EPS Q2Q%1150%
Revenue 1Y (TTM)148.59%
Revenue growth 3Y10.25%
Revenue growth 5Y16.21%
Sales Q2Q%108.69%

3.2 Future

The Earnings Per Share is expected to grow by 46.44% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 11.30% on average over the next years. This is quite good.
EPS Next Y86.29%
EPS Next 2Y71.31%
EPS Next 3Y52.58%
EPS Next 5Y46.44%
Revenue Next Year24.14%
Revenue Next 2Y16.75%
Revenue Next 3Y13.33%
Revenue Next 5Y11.3%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
MAX Yearly Revenue VS EstimatesMAX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B
MAX Yearly EPS VS EstimatesMAX Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 1 -1 2

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7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 19.74, which indicates a rather expensive current valuation of MAX.
Based on the Price/Earnings ratio, MAX is valued a bit cheaper than the industry average as 66.20% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.34, MAX is valued a bit cheaper.
A Price/Forward Earnings ratio of 11.88 indicates a reasonable valuation of MAX.
MAX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. MAX is cheaper than 76.06% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.19. MAX is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 19.74
Fwd PE 11.88
MAX Price Earnings VS Forward Price EarningsMAX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

MAX's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. MAX is cheaper than 71.83% of the companies in the same industry.
81.69% of the companies in the same industry are more expensive than MAX, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 10.5
EV/EBITDA 12.12
MAX Per share dataMAX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as MAX's earnings are expected to grow with 52.58% in the coming years.
PEG (NY)0.23
PEG (5Y)22.32
EPS Next 2Y71.31%
EPS Next 3Y52.58%

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0

5. Dividend

5.1 Amount

MAX does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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MEDIAALPHA INC-CLASS A

NYSE:MAX (6/18/2025, 8:05:00 PM)

After market: 10.46 0 (0%)

10.46

-0.36 (-3.33%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryInteractive Media & Services
Earnings (Last)04-30 2025-04-30/amc
Earnings (Next)07-29 2025-07-29/amc
Inst Owners54.34%
Inst Owner Change0.44%
Ins Owners9.37%
Ins Owner Change15.21%
Market Cap705.74M
Analysts80
Price Target16.75 (60.13%)
Short Float %6.46%
Short Ratio4.11
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-11.62%
Min EPS beat(2)-64.2%
Max EPS beat(2)40.96%
EPS beat(4)3
Avg EPS beat(4)244.51%
Min EPS beat(4)-64.2%
Max EPS beat(4)966.26%
EPS beat(8)5
Avg EPS beat(8)134.36%
EPS beat(12)5
Avg EPS beat(12)60.2%
EPS beat(16)6
Avg EPS beat(16)-68.1%
Revenue beat(2)2
Avg Revenue beat(2)6.41%
Min Revenue beat(2)2.31%
Max Revenue beat(2)10.52%
Revenue beat(4)4
Avg Revenue beat(4)8.31%
Min Revenue beat(4)2.31%
Max Revenue beat(4)16.57%
Revenue beat(8)8
Avg Revenue beat(8)7.94%
Revenue beat(12)10
Avg Revenue beat(12)5.74%
Revenue beat(16)11
Avg Revenue beat(16)4.12%
PT rev (1m)-1.99%
PT rev (3m)-8.8%
EPS NQ rev (1m)-3.69%
EPS NQ rev (3m)18.47%
EPS NY rev (1m)0%
EPS NY rev (3m)-30.4%
Revenue NQ rev (1m)-1.09%
Revenue NQ rev (3m)1.77%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.02%
Valuation
Industry RankSector Rank
PE 19.74
Fwd PE 11.88
P/S 0.7
P/FCF 10.5
P/OCF 10.39
P/B 89.12
P/tB N/A
EV/EBITDA 12.12
EPS(TTM)0.53
EY5.07%
EPS(NY)0.88
Fwd EY8.42%
FCF(TTM)1
FCFY9.52%
OCF(TTM)1.01
OCFY9.62%
SpS14.86
BVpS0.12
TBVpS-0.67
PEG (NY)0.23
PEG (5Y)22.32
Profitability
Industry RankSector Rank
ROA 6.58%
ROE 199.44%
ROCE 45.71%
ROIC 36.11%
ROICexc 70.36%
ROICexgc 333.38%
OM 5.95%
PM (TTM) 1.58%
GM 16.12%
FCFM 6.71%
ROA(3y)-17.95%
ROA(5y)-11.55%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y414.71%
ROICexcg growth 5Y-22.99%
ROICexc growth 3Y231.94%
ROICexc growth 5Y-23.15%
OM growth 3Y147.63%
OM growth 5Y-25.49%
PM growth 3YN/A
PM growth 5Y-15.11%
GM growth 3Y1.82%
GM growth 5Y-10.7%
F-Score7
Asset Turnover4.18
Health
Industry RankSector Rank
Debt/Equity 19.12
Debt/FCF 2.38
Debt/EBITDA 2.29
Cap/Depr 10.39%
Cap/Sales 0.07%
Interest Coverage 4.55
Cash Conversion 102.57%
Profit Quality 425.59%
Current Ratio 1.67
Quick Ratio 1.67
Altman-Z 4.22
F-Score7
WACC8.83%
ROIC/WACC4.09
Cap/Depr(3y)4.14%
Cap/Depr(5y)8.08%
Cap/Sales(3y)0.04%
Cap/Sales(5y)0.05%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)177.94%
EPS 3YN/A
EPS 5Y0.88%
EPS Q2Q%1150%
EPS Next Y86.29%
EPS Next 2Y71.31%
EPS Next 3Y52.58%
EPS Next 5Y46.44%
Revenue 1Y (TTM)148.59%
Revenue growth 3Y10.25%
Revenue growth 5Y16.21%
Sales Q2Q%108.69%
Revenue Next Year24.14%
Revenue Next 2Y16.75%
Revenue Next 3Y13.33%
Revenue Next 5Y11.3%
EBIT growth 1Y329.49%
EBIT growth 3Y173%
EBIT growth 5Y-13.41%
EBIT Next Year147.67%
EBIT Next 3Y43.56%
EBIT Next 5Y28.73%
FCF growth 1Y105.87%
FCF growth 3Y17.37%
FCF growth 5Y15.66%
OCF growth 1Y107.38%
OCF growth 3Y17.03%
OCF growth 5Y15.68%