What is MediaAlpha's invested capital?

MediaAlpha (MAX) reported invested capital of $139.37M in Q1 2026.

How has MediaAlpha's invested capital changed year-over-year?

MediaAlpha's invested capital increased by 33.3% year-over-year, from $104.59M to $139.37M.

What is the long-term trend for MediaAlpha's invested capital?

Over 5 years (2020 to 2025), MediaAlpha's invested capital has grown at a -2.7% compound annual growth rate (CAGR), from $128.44M to $112.07M.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

MediaAlpha MAX Invested capital

Discontinued — last reported Q1 '26

Invested capital at other companies

Travel + LeisureTNL

18.8%+0.1pp

BeldenBDC

12.2%+0.5pp

Cabot CorporationCBT

14.7%-6.0pp

UnifirstUNF

6.2%-0.9pp

Envista Holdings CorporationNVST

3.4%+1.8pp

Liberty Broadband CorporationLBRDK

-0.3%-0.1pp

Other financials

Income statement

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Revenue$310.0M+17.3%

Gross profit$46.7M+12.2%

Operating income$22.4M+19,188%

Net income$11.5M+689%

EPS (diluted)$0.21+625%

Balance sheet

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Cash & equivalents$26.1M-59.0%

Total debt$163.5M+2.0%

Total equity$1.9M-75.8%

Total assets$367.7M+53.2%

Cash flow

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Operating cash flow-$1.6M-107%

CapEx$42.0K-26.3%

Free cash flow-$1.6M-107%

Valuation

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Market cap$594.68M+0.1%

Enterprise value$732.14M+6.0%

P/E15.2×-22.4×

P/S0.5×-0.1×

Profitability

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Gross margin14.9%-1.2pp

Operating margin3.8%-0.2pp

Net margin3.4%+1.8pp

FCF margin7.8%+2.4pp

Returns & leverage

See full

Return on equity793.8%—

Debt / equity85.3×+65.1×

Current ratio1.5×-0.2×

Where this comes from

Calculated from MediaAlpha’s reported figures.

$163.5Mtotal debt+$1.9Mtotal stockholders equity−$26.1Mcash and equivalents=$139.37M

The official record: MediaAlpha’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MediaAlpha's invested capital?: MediaAlpha (MAX) reported invested capital of $139.37M in Q1 2026.
How has MediaAlpha's invested capital changed year-over-year?: MediaAlpha's invested capital increased by 33.3% year-over-year, from $104.59M to $139.37M.
What is the long-term trend for MediaAlpha's invested capital?: Over 5 years (2020 to 2025), MediaAlpha's invested capital has grown at a -2.7% compound annual growth rate (CAGR), from $128.44M to $112.07M.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).