MediaAlpha, Inc. (MAX) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does MediaAlpha, Inc. Do?
MediaAlpha, Inc., through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California. MediaAlpha, Inc. is a subsidiary of White Mountains Insurance Group, Ltd. MediaAlpha, Inc. (MAX) is classified as a small-cap stock in the Industrials sector, specifically within the Business Services industry. The company is led by CEO Steven Yi and employs approximately 160 people. With a market capitalization of $501M, MAX is one of the notable companies in the Industrials sector.
MediaAlpha, Inc. (MAX) Stock Rating — Reduce (April 2026)
As of April 2026, MediaAlpha, Inc. receives a Reduce rating with a composite score of 40.9/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.MAX ranks #2,758 out of 4,446 stocks in our coverage universe. Within the Industrials sector, MediaAlpha, Inc. ranks #457 of 752 stocks, placing it in the lower half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
MAX Stock Price and 52-Week Range
MediaAlpha, Inc. (MAX) currently trades at $9.05. The stock lost $0.28 (3.0%) in the most recent trading session. The 52-week high for MAX is $13.92, which means the stock is currently trading -35.0% from its annual peak. The 52-week low is $7.09, putting the stock 27.6% above its annual trough. Recent trading volume was 337K shares, suggesting relatively thin trading activity.
Is MAX Overvalued or Undervalued? — Valuation Analysis
MediaAlpha, Inc. (MAX) carries a value factor score of 55/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 112.97x, compared to the Industrials sector average of 28.33x — a premium of 299%. The price-to-sales ratio is 0.49x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, MAX trades at 44.13x EV/EBITDA, versus 5.70x for the sector.
Overall, MAX's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
MediaAlpha, Inc. Profitability — ROE, Margins, and Quality Score
MediaAlpha, Inc. (MAX) earns a quality factor score of 39/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -111.7%, compared to the Industrials sector average of 8.9%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 1.2% versus the sector average of 3.3%.
On a margin basis, MediaAlpha, Inc. reports gross margins of 15.0%, compared to 35.8% for the sector. The operating margin is 1.1% (sector: 6.2%). Net profit margin stands at 0.1%, versus 3.9% for the average Industrials stock. Revenue growth is running at 71.9% on a trailing basis, compared to 6.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
MAX Debt, Balance Sheet, and Financial Health
MediaAlpha, Inc. has a debt-to-equity ratio of -237.0%, compared to the Industrials sector average of 70.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 1.18x, suggesting adequate working capital coverage. Total debt on the balance sheet is $153M. Cash and equivalents stand at $39M.
MAX has a beta of 1.01, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for MediaAlpha, Inc. is 49/100, reflecting average volatility within the normal range for its sector.
MediaAlpha, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, MediaAlpha, Inc. reported revenue of $1.08B and earnings per share (EPS) of $0.46. Net income for the quarter was $5M. Gross margin was 15.0%. Operating income came in at $15M.
In FY 2025, MediaAlpha, Inc. reported revenue of $1.11B and earnings per share (EPS) of $0.46. Net income for the quarter was $27M. Gross margin was 15.0%. Revenue grew 28.8% year-over-year compared to FY 2024. Operating income came in at $22M.
In Q3 2025, MediaAlpha, Inc. reported revenue of $307M and earnings per share (EPS) of $0.26. Net income for the quarter was $18M. Gross margin was 14.2%. Revenue grew 18.3% year-over-year compared to Q3 2024. Operating income came in at $20M.
In Q2 2025, MediaAlpha, Inc. reported revenue of $252M and earnings per share (EPS) of $-0.33. Net income for the quarter was $-23M. Gross margin was 15.0%. Revenue grew 41.1% year-over-year compared to Q2 2024. Operating income came in at $-20M.
Over the past 8 quarters, MediaAlpha, Inc. has demonstrated a growth trajectory, with revenue expanding from $178M to $1.08B. Investors analyzing MAX stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
MAX Dividend Yield and Income Analysis
MediaAlpha, Inc. (MAX) does not currently pay a dividend. This is common among smaller companies in the Business Services industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.
MAX Momentum and Technical Analysis Profile
MediaAlpha, Inc. (MAX) has a momentum factor score of 32/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 22/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 57/100 reflects moderate short selling activity.
MAX vs Competitors — Industrials Sector Ranking and Peer Comparison
Within the Industrials sector, MediaAlpha, Inc. (MAX) ranks #457 out of 752 stocks based on the Blank Capital composite score. This places MAX in the lower half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.
Comparing MAX against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full MAX vs S&P 500 (SPY) comparison to assess how MediaAlpha, Inc. stacks up against the broader market across all factor dimensions.
MAX Next Earnings Date
No upcoming earnings date has been announced for MediaAlpha, Inc. (MAX) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy MAX? — Investment Thesis Summary
The quantitative profile for MediaAlpha, Inc. suggests caution. The quality score of 39/100 flags below-average profitability. Momentum is weak at 32/100, a headwind for near-term performance.
In summary, MediaAlpha, Inc. (MAX) earns a Reduce rating with a composite score of 40.9/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on MAX stock.
Related Resources for MAX Investors
Explore more research and tools: MAX vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare MAX head-to-head with peers: MAX vs SOBO, MAX vs TEN, MAX vs GLDD.