# MediaAlpha share price today (MediaAlpha, Inc., MAX)

> MediaAlpha, Inc.'s balance sheet is under water: its net worth is negative, so it owes more than it owns. This is a high-risk situation: shareholders can be wiped out by new shares or a restructuring before the business recovers. MAX · Communication Services · Internet Content & Information · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/max

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## Key numbers

- Price: $15.15 (+18.8% in a year)
- P/E: 8.3×, over 2.1 years
- Revenue (Jun 2026): $317 M (+25.9% on a year ago)
- Profit (Jun 2026): $39.4 M
- Operating margin: 6.4% (+0.4 points on a year ago)
- ROE: −88%, FY25
- ROIC: 46.7%, against a 9.6% cost of capital: +37.1 points
- Profit that came in as cash: 264%, last 2 years

Biggest thing to watch: margins are the best this company has ever reported. Every ratio looks better at a record, so the story depends on margins staying high. ## What is the MediaAlpha share price today? MediaAlpha, Inc.'s share price was $15.15 at the close on 3 November 2026. It has been stalling near its high for 4 weeks. That is 42.0% above its average price over the last 200 trading days. In the last 52 weeks it traded between $7 and $15, and at that close it was at the high of that range. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 2 weeks in a row. Over the last 6 years the share price moved −55% while the S&P 500 moved +131%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does MediaAlpha pay? MediaAlpha, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is MediaAlpha on? MediaAlpha is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is MediaAlpha profitable? MediaAlpha, Inc. earned $39.4 M of net profit in the Jun 2026 quarter. Full-year FY25 profit was $25.6 M. That is 12.4% of the quarter's revenue. The same quarter a year earlier lost $18.7 M. 5 of the last 12 reported quarters were loss-making. For the full year, FY25 profit was $25.6 M (+54.1% on the year before). ## How much revenue does MediaAlpha make, and is it growing? MediaAlpha, Inc. reported $317 M of revenue in the Jun 2026 quarter, +25.9% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 4 years it has grown 14.6% a year on average. The last full year, FY25, came in at $1.1 B. The last four reported quarters add to $1.2 B. FY25 revenue was $1.1 B, +28.8% on the year before. Recent pace: the last four quarters grew +14.6% on average, against 14.6% a year over the longer run, so this year is growing at about the same pace as its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +13.8%, against +57.0% a year over the last 8 quarters (rolling over). ## How much of every $100 of sales does MediaAlpha keep? MediaAlpha, Inc.'s operating margin was 6.4% in the Jun 2026 quarter, 0.4 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 5 years it has been between −10.3% and 7.0%. The latest quarter is within that range. Across 5 years it has been between −10.3% and 7.0%, and FY25's 7.0% is the highest of them. Why the margin moved: operating margin changed +0.4 percentage points on the year while gross margin changed −0.7 points. So the gain came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. ## Is MediaAlpha's profit turning into cash? Over the last 2 years, 264% of MediaAlpha, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $65.6 M of operating cash against $25.6 M of profit. After $340 K of spending on assets, $65.3 M was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does MediaAlpha's cash go? MediaAlpha, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $667 K on assets over the last 3 years. Averaged over those years that is 0.0% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $667 K over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is MediaAlpha's P/E ratio, and how does it compare with its own history? MediaAlpha, Inc.'s P/E is 8.3×, with too little history to compare. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +25.8% while the price moved +18.8%. Earnings did better than the price, which pulled the multiple down within its own range. In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple. ## Is the MediaAlpha business getting better or worse? MediaAlpha, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading. The return-on-capital line is not shown: net worth is negative, so a return on capital means nothing. The balance sheet is in distress, and this reading uses the growth lines alone. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does MediaAlpha earn on its capital? MediaAlpha, Inc. earned a ROE of −88% in FY25. Its return on capital used (ROIC) is 37.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 2.3% net margin and 2.90× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 2.3% net margin × 2.90× asset turnover × −13.15× leverage (assets divided by equity) ≈ −87.7% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 46.7% − 9.6% = +37.1 percentage points. The 9.6% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. A gap this wide means each dollar put back into the business creates more than a dollar of value. The 46.7% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 42.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does MediaAlpha have too much debt? MediaAlpha, Inc.'s net worth is negative: it owes more than it owns, so a debt-to-equity ratio means nothing here. Year by year, that ratio went from −3.10 in FY21 to −5.30 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the MediaAlpha shareholding pattern? 14.0% of MediaAlpha, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so a large group of traders is betting against it. At normal trading volumes, closing those positions would take about 3.2 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is MediaAlpha from balance-sheet trouble? For MediaAlpha, Inc., the Z-score is 3.98. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 3.98 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does MediaAlpha rank in its industry? 62.2 out of 100, rank 5 of 25 in Internet Content & Information, with 74% of the evidence available. MediaAlpha, Inc. scores 62.2 out of 100 against the 25 companies it is compared with in Internet Content & Information, ranking 5. Relative strength against the index is 30.8%, and revenue and profit growth are weak. The four parts add up to the total exactly: 13.6 + 16.7 + 12.8 + 19.1 = 62.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is MediaAlpha compared with? MediaAlpha ranks 5 of 25 Internet Content & Information companies on the 4-Factor Sector Score, with 62.2 out of 100. 1. [EverQuote, Inc.](https://www.sectoralpha.in/us/stocks/ever) EVER · turning · Most evidence points up · 71% evidence 70.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.4/35 · Revenue 22.6% · Profit 100% · Operating margin change 2.7 points · 83% evidence Capital efficiency 17.5/25 · ROCE 32.2% · Operating margin 12% · 76% evidence Valuation 10.5/20 · P/E 7.4× · PEG n/a · 15% evidence Relative strength 18.9/20 · Lead over its industry 37% · Lead over S&P 500 28.4% · 1 year 14.5% · 100% evidence · 6 of 12 weeks ahead Exact sum: 23.4 + 17.5 + 10.5 + 18.9 = 70.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Spotify Technology S.A.](https://www.sectoralpha.in/us/stocks/spot) SPOT · breaking out · Most evidence points up · 75% evidence 68.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.0/35 · Revenue 11.3% · Profit 100% · Operating margin change -0.1 points · 95% evidence Capital efficiency 17.8/25 · ROCE 29.8% · Operating margin 13.5% · 76% evidence Valuation 9.0/20 · P/E 29.8× · PEG n/a · 15% evidence Relative strength 18.3/20 · Lead over its industry 17.3% · Lead over S&P 500 10.6% · 1 year -2.7% · 100% evidence · 9 of 12 weeks ahead Exact sum: 23 + 17.8 + 9 + 18.3 = 68.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Match Group, Inc.](https://www.sectoralpha.in/us/stocks/mtch) MTCH · leader · Most evidence points up · 81% evidence 68.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.7/35 · Revenue 1.7% · Profit 32% · Operating margin change 6.3 points · 83% evidence Capital efficiency 20.4/25 · ROCE 30.5% · Operating margin 28.8% · 76% evidence Valuation 14.2/20 · P/E 12.5× · PEG 0.3 · 65% evidence Relative strength 14.7/20 · Lead over its industry 8.1% · Lead over S&P 500 2.7% · 1 year 17.1% · 100% evidence · 8 of 12 weeks ahead Exact sum: 18.7 + 20.4 + 14.2 + 14.7 = 68 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Bumble Inc.](https://www.sectoralpha.in/us/stocks/bmbl) BMBL · turning · Evidence leans up · 64% evidence 63.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.1/35 · Revenue -13.4% · Profit n/a · Operating margin change -4.7 points · 62% evidence Capital efficiency 17.6/25 · ROCE 23.6% · Operating margin 28.1% · 76% evidence Valuation 11.0/20 · P/E -0.7× · PEG n/a · 15% evidence Relative strength 20.0/20 · Lead over its industry 75.6% · Lead over S&P 500 65.9% · 1 year 40.1% · 100% evidence · 5 of 12 weeks ahead Exact sum: 15.1 + 17.6 + 11 + 20 = 63.7 · What this means: Relative strength against the index is 65.9%, and revenue and profit growth are weak. 5. MediaAlpha, Inc. this page MAX · turning · Evidence leans up · 74% evidence 62.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.6/35 · Revenue 13.8% · Profit n/a · Operating margin change 0.4 points · 62% evidence Capital efficiency 16.7/25 · ROCE 37.4% · Operating margin 6.4% · 76% evidence Valuation 12.8/20 · P/E 7× · PEG 0.51 · 65% evidence Relative strength 19.1/20 · Lead over its industry 38.9% · Lead over S&P 500 30.8% · 1 year 18.7% · 100% evidence · 6 of 12 weeks ahead Exact sum: 13.6 + 16.7 + 12.8 + 19.1 = 62.2 · What this means: Relative strength against the index is 30.8%, and revenue and profit growth are weak. 6. [Meta Platforms, Inc.](https://www.sectoralpha.in/us/stocks/meta) META · breaking out · Evidence leans up · 85% evidence 59.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.8/35 · Revenue 27.5% · Profit 28.6% · Operating margin change -4.7 points · 95% evidence Capital efficiency 20.1/25 · ROCE 22% · Operating margin 35.4% · 76% evidence Valuation 10.5/20 · P/E 24.6× · PEG 0.83 · 65% evidence Relative strength 12.2/20 · Lead over its industry -0.8% · Lead over S&P 500 -6.2% · 1 year -0.1% · 100% evidence · 8 of 12 weeks ahead Exact sum: 16.8 + 20.1 + 10.5 + 12.2 = 59.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Opera Limited](https://www.sectoralpha.in/us/stocks/opra) OPRA · quiet · Evidence leans up · 81% evidence 57.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.6/35 · Revenue 23.2% · Profit 59.3% · Operating margin change 3.3 points · 83% evidence Capital efficiency 14.0/25 · ROCE 10.8% · Operating margin 16.4% · 76% evidence Valuation 14.6/20 · P/E 13.9× · PEG 0.24 · 65% evidence Relative strength 4.6/20 · Lead over its industry -5.1% · Lead over S&P 500 -9.7% · 1 year 11.2% · 100% evidence · 1 of 12 weeks ahead Exact sum: 24.6 + 14 + 14.6 + 4.6 = 57.8 · What this means: Earnings are strong; relative strength in its sector is -5.1% and the one-year return is 11.2%. 8. [Reddit, Inc.](https://www.sectoralpha.in/us/stocks/rddt) RDDT · quiet · Evidence leans up · 71% evidence 56.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.9/35 · Revenue 66.6% · Profit 100% · Operating margin change 15.2 points · 83% evidence Capital efficiency 18.1/25 · ROCE 23.8% · Operating margin 28.8% · 76% evidence Valuation 8.8/20 · P/E 38.4× · PEG n/a · 15% evidence Relative strength 0.2/20 · Lead over its industry -41.8% · Lead over S&P 500 -45.7% · 1 year -50.6% · 100% evidence · 1 of 12 weeks ahead Exact sum: 28.9 + 18.1 + 8.8 + 0.2 = 56 · What this means: Earnings are strong; relative strength in its sector is -41.8% and the one-year return is -50.6%. 9. [Alphabet Inc.](https://www.sectoralpha.in/us/stocks/googl) GOOGL · quiet · Evidence leans up · 85% evidence 54.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.6/35 · Revenue 22.2% · Profit 89.7% · Operating margin change 1.3 points · 95% evidence Capital efficiency 17.9/25 · ROCE 18.1% · Operating margin 31.8% · 76% evidence Valuation 12.0/20 · P/E 17.8× · PEG 0.47 · 65% evidence Relative strength 3.9/20 · Lead over its industry -15.3% · Lead over S&P 500 -19.7% · 1 year 0.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 20.6 + 17.9 + 12 + 3.9 = 54.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Upwork Inc.](https://www.sectoralpha.in/us/stocks/upwk) UPWK · turning · Evidence leans up · 71% evidence 53.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.0/35 · Revenue 1.8% · Profit -58.9% · Operating margin change 3.8 points · 83% evidence Capital efficiency 17.1/25 · ROCE 21.1% · Operating margin 21.8% · 76% evidence Valuation 10.4/20 · P/E 10.1× · PEG n/a · 15% evidence Relative strength 8.4/20 · Lead over its industry -17.2% · Lead over S&P 500 -23.9% · 1 year -43.1% · 100% evidence · 1 of 12 weeks ahead Exact sum: 18 + 17.1 + 10.4 + 8.4 = 53.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Genius Sports Limited](https://www.sectoralpha.in/us/stocks/geni) GENI · quiet · Evidence leans up · 64% evidence 52.0 out of 100 Growth Capital Valuation Relative
12. [JOYY Inc.](https://www.sectoralpha.in/us/stocks/joyy) JOYY · leader · Evidence leans up · 81% evidence 51.0 out of 100 Growth Capital Valuation Relative
13. [Snap Inc.](https://www.sectoralpha.in/us/stocks/snap) SNAP · breaking out · Evidence leans up · 64% evidence 50.8 out of 100 Growth Capital Valuation Relative
14. [Nextdoor Holdings, Inc.](https://www.sectoralpha.in/us/stocks/nxdr) NXDR · quiet · Evidence leans down · 61% evidence 48.9 out of 100 Growth Capital Valuation Relative
15. [Zillow Group, Inc.](https://www.sectoralpha.in/us/stocks/zg) ZG · basing · Evidence leans down · 64% evidence 44.8 out of 100 Growth Capital Valuation Relative
16. [Nebius Group N.V.](https://www.sectoralpha.in/us/stocks/nbis) NBIS · quiet · Evidence leans down · 71% evidence 43.1 out of 100 Growth Capital Valuation Relative
17. [Taboola.com Ltd.](https://www.sectoralpha.in/us/stocks/tbla) TBLA · basing · Evidence leans down · 64% evidence 40.8 out of 100 Growth Capital Valuation Relative
18. [Weibo Corporation](https://www.sectoralpha.in/us/stocks/wb) WB · basing · Evidence leans down · 81% evidence 40.0 out of 100 Growth Capital Valuation Relative
19. [Yelp Inc.](https://www.sectoralpha.in/us/stocks/yelp) YELP · basing · Evidence leans down · 81% evidence 39.7 out of 100 Growth Capital Valuation Relative
20. [RUM Group Inc.](https://www.sectoralpha.in/us/stocks/rum) RUM · quiet · Evidence leans down · 61% evidence 39.7 out of 100 Growth Capital Valuation Relative
21. [Pinterest, Inc.](https://www.sectoralpha.in/us/stocks/pins) PINS · quiet · Evidence leans down · 71% evidence 39.0 out of 100 Growth Capital Valuation Relative
22. [People Incorporated](https://www.sectoralpha.in/us/stocks/ppli) PPLI · quiet · Evidence leans down · 64% evidence 36.0 out of 100 Growth Capital Valuation Relative
23. [WEBTOON Entertainment Inc.](https://www.sectoralpha.in/us/stocks/wbtn) WBTN · turning · Most evidence points down · 64% evidence 33.7 out of 100 Growth Capital Valuation Relative
24. [StubHub Holdings, Inc.](https://www.sectoralpha.in/us/stocks/stub) STUB · basing · Too little evidence to rank firmly · 58% evidence 30.3 out of 100 Growth Capital Valuation Relative
25. [Trump Media & Technology Group Corp.](https://www.sectoralpha.in/us/stocks/djt) DJT · quiet · Too little evidence to rank firmly · 60% evidence 28.6 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Internet Content & Information](https://www.sectoralpha.in/us/sectors/internet-content-information), all 25 compared on one page. ## Which companies are close to MediaAlpha in size? MediaAlpha is the 30th largest of 40 Internet Content & Information companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Taboola.com, Bumble Inc. and Nextdoor Holdings, Inc. Just below it: NerdWallet, Inc., Hello Group Inc. and Groupon, Inc. ### Internet Content & Information companies close in size

1. [Taboola.com Ltd.](https://www.sectoralpha.in/us/stocks/tbla) $919 million
2. [Bumble Inc.](https://www.sectoralpha.in/us/stocks/bmbl) $916 million
3. [Nextdoor Holdings, Inc.](https://www.sectoralpha.in/us/stocks/nxdr) $897 million
4. MediaAlpha, Inc. $897 million
5. [NerdWallet, Inc.](https://www.sectoralpha.in/us/stocks/nrds) $693 million
6. [Hello Group Inc.](https://www.sectoralpha.in/us/stocks/momo) $631 million
7. [Groupon, Inc.](https://www.sectoralpha.in/us/stocks/grpn) $630 million

[All 40 Internet Content & Information companies, largest first](https://www.sectoralpha.in/us/sectors/internet-content-information#all-companies)

### Companies close in size in other industries

1. [Latham Group, Inc.](https://www.sectoralpha.in/us/stocks/swim) $878 million · Building Products & Equipment
2. [Arteris, Inc.](https://www.sectoralpha.in/us/stocks/aip) $877 million · Semiconductors
3. MediaAlpha, Inc. $875 million
4. [Mid Penn Bancorp, Inc.](https://www.sectoralpha.in/us/stocks/mpb) $875 million · Banks - Regional
5. [Kronos Worldwide, Inc.](https://www.sectoralpha.in/us/stocks/kro) $872 million · Specialty Chemicals

## What else do people ask about MediaAlpha? ### What were MediaAlpha's latest quarterly results? MediaAlpha, Inc. reported revenue of $317 M and net profit of $39.4 M for the Jun 2026 quarter. Earnings per share were $0.65. The operating margin was 6.4%, 0.4 percentage points higher than a year earlier (as of 3 November 2026). ### What is MediaAlpha's market cap? MediaAlpha, Inc.'s market capitalisation is $897 M at a stock price of $15.15. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is MediaAlpha performing? MediaAlpha, Inc.'s share price has been stalling near its high for 4 weeks. Over the past 13 weeks it has done better than the S&P 500, for 2 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will MediaAlpha's stock price go up? This page does not forecast MediaAlpha, Inc.'s stock price. What it shows instead: the stock price is $15.15, and it has been stalling near its high for 4 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Does MediaAlpha have too much debt? Yes, MediaAlpha, Inc. has a lot of debt: its debt is 8.85× its equity. A year-by-year history of its borrowings is not in our data, so this uses the latest reading. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is MediaAlpha in its business cycle? MediaAlpha, Inc.'s FY25 operating margin was 7.0%, against a 5-year range of −10.3% to 7.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 6.4%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the MediaAlpha story? Biggest thing to watch: margins are the best this company has ever reported. Every ratio looks better at a record, so the story depends on margins staying high. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is MediaAlpha a stock worth studying right now? What the numbers show: MediaAlpha, Inc.'s balance sheet is under water: its net worth is negative, so it owes more than it owns. This is a high-risk situation: shareholders can be wiped out by new shares or a restructuring before the business recovers. The main open question: whether the business can earn its way back to positive net worth before new shares or a restructuring get there first. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.