What is MediaAlpha's net debt?

MediaAlpha (MAX) reported net debt of $137.45M in Q1 2026.

How has MediaAlpha's net debt changed year-over-year?

MediaAlpha's net debt increased by 42.2% year-over-year, from $96.67M to $137.45M.

What is the long-term trend for MediaAlpha's net debt?

Over 5 years (2020 to 2025), MediaAlpha's net debt has grown at a -7.8% compound annual growth rate (CAGR), from $162.21M to $107.91M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

MediaAlpha MAX Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Helen Of TroyHELE

4.8×+2.6×

CorMedixCRMD

-0.9×—

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−$26.1Mcash and equivalents=$137.45M

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 net debt?: MediaAlpha (MAX) reported net debt of $137.45M in Q1 2026.
How has MediaAlpha's net debt changed year-over-year?: MediaAlpha's net debt increased by 42.2% year-over-year, from $96.67M to $137.45M.
What is the long-term trend for MediaAlpha's net debt?: Over 5 years (2020 to 2025), MediaAlpha's net debt has grown at a -7.8% compound annual growth rate (CAGR), from $162.21M to $107.91M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.