What are MediaAlpha's profit margins?

MediaAlpha (MAX) runs a 14.9% gross margin and a 3.8% operating margin, with a 3.4% net margin.

Where do MediaAlpha's ratios come from?

Every ratio is computed from MediaAlpha's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

MediaAlpha MAX Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	14.9%-0.2pp	15%-0.2pp	15.3%-0.3pp	15.6%-0.5pp	16.1%-0.5pp
Operating margin	3.8%+1.8pp	2%+0.4pp	1.6%+0.3pp	1.3%-2.7pp	4%-0.9pp
Net margin	3.4%+1.1pp	2.3%+2.4pp	-0.1%+0.5pp	-0.6%-2.2pp	1.6%-0.3pp
EBITDA margin	4%+1.7pp	2.3%+0.3pp	2%+0.2pp	1.8%-2.9pp	4.7%-1.0pp
Returns
Return on assets	12.8%+4.9pp	7.9%+8.4pp	-0.5%+2.5pp	-2.9%-11.0pp	8%0.0pp
Return on invested capital	36.4%+17.6pp	18.8%+10.2pp	8.6%-6.7pp	15.3%-16.1pp	31.4%+1.9pp
Efficiency
Asset turnover	3.8×+0.4×	3.4×-1.0×	4.5×-0.3×	4.8×-0.3×	5.1×+0.9×
Liquidity
Current ratio	1.5×+0.3×	1.2×+0.1×	1.1×-0.2×	1.3×-0.4×	1.7×+0.2×
Quick ratio	1.5×+0.3×	1.2×+0.1×	1.1×-0.2×	1.3×-0.4×	1.7×+0.2×
Cash ratio	0.2×-0.1×	0.3×+0.1×	0.2×-0.4×	0.6×0.0×	0.6×+0.3×
Leverage
Debt-to-assets	0.4×0.0×	0.4×-0.2×	0.6×0.0×	0.6×0.0×	0.7×0.0×
Net debt / EBITDA	2.9×-1.3×	4.3×-1.0×	5.2×+1.5×	3.8×+1.7×	2.1×—
Interest coverage	4.1×+2.2×	2×+0.4×	1.5×+0.4×	1.1×-1.9×	3×0.0×
Per Share
Book value per share	$0.03-44.9%	$0.06+112%	-$0.53-682%	-$0.07-147%	$0.14+218%
Valuation
Market capitalization	$594.68M+0.1%	$736.45M+21.8%	$604.68M-0.4%	$607.03M+18.5%	$512.41M-17.6%
Enterprise value	$732.14M+6.0%	$844.36M+17.0%	$721.53M+6.2%	$679.67M+11.6%	$609.09M-18.1%
Price / sales	0.5×-0.1×	0.7×+0.1×	0.5×0.0×	0.6×+0.1×	0.5×-0.2×
EV / EBITDA	15.7×+1.0×	33.3×+1.1×	32.3×-2.9×	35.1×+22.2×	13×—
EV / sales	0.6×-0.1×	0.8×+0.1×	0.6×0.0×	0.6×0.0×	0.6×-0.3×
Earnings yield	6.6%+3.9pp	3.5%+3.7pp	-0.2%+0.9pp	-1.1%-4.2pp	3.1%+0.4pp

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Questions, answered.

What are MediaAlpha's profit margins?: MediaAlpha (MAX) runs a 14.9% gross margin and a 3.8% operating margin, with a 3.4% net margin.
Where do MediaAlpha's ratios come from?: Every ratio is computed from MediaAlpha's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.