MediaAlpha, Inc. (MAX) Stock Price & Analysis

MediaAlpha, Inc. (MAX) closed at USD 11.72 on Wednesday, October 28, 2026, down 0.42% on the day. The US market is currently closed; this is not a live price.

The prior close was USD 11.77; the Oct 28, 2026 session ranged USD 11.49–12.13 on volume of 917,717 shares. Market capitalization is $620.88M, with a 52-week range of USD 7.09–14.7 (NYQ). Source: Nexqual, retrieved October 29, 2026 at 07:19 UTC.

Also available as compact Markdown for AI agents: nexqual.com/MAX.md

Key facts (MAX)

• Last four reported quarters (through Sep 30, 2026): revenue $1.29B, net income $108M (8.4% margin), free cash flow $54.2M (SEC filings).
• Valuation: P/E 5.7x (avg 34.9x at the last 2 fiscal year-ends), EV/EBITDA 8.3x, net debt $156M.
• Earnings quality: non-operating income -$84.8M vs operating income $93.5M over the last four quarters; P/E excluding non-operating income ≈3.2x (estimate: non-operating income taxed at the company's 0% effective rate).
• Analysts: Buy (mean 2.13 on a 1–5 scale) (8 analysts), mean target USD 14.5 (range 10.5–19).
• Total return with dividends: 1Y +5.4% vs S&P 500 +13.6%; 5Y -33.1% vs S&P 500 +79.8%.
• Next earnings: 2026-10-28, EPS estimate USD 0.39, revenue estimate $350M.

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MAX)

Fiscal years end Dec. EPS is split-adjusted.

Valuation (price ÷ last four quarters, through Sep 30, 2026) (MAX)

P/E 5.7x · P/E ex non-operating (est.) ≈3.2x · P/S 0.5x · EV/EBITDA 8.3x · EV/Sales 0.6x · P/FCF 11.5x · P/B 12.1x · FCF yield 8.73% · Earnings yield 17.41% · Net debt $156M · EV $777M

P/E at fiscal year-ends: Dec 2025 33.8x, Dec 2024 36.0x.

Analysts (MAX)

Consensus Buy (mean 2.13 on a 1–5 scale), 8 analysts; mean target USD 14.5 (low 10.5, high 19).

Rating changes, last 120 days:

Total return (dividends reinvested) (MAX)

MAX earnings history and stock reaction

EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

MAX recent SEC filings (last 120 days)

Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.

MAX suppliers, customers and competitors (named in its 10-K)

Quoted from the company's 10-K filed Feb 23, 2026.

Companies that name MAX in their SEC reports

MAX company outlook (results filed Oct 28, 2026)

• “Our guidance for the fourth quarter of 2026 reflects continued strength in our Property & Casualty (P&C) insurance vertical, driven by strong carrier growth investment and continued share gains.”
• “We expect our Health insurance vertical to account for approximately 4% of revenue in the fourth quarter, reflecting the seasonal peak due to the annual enrollment periods during the quarter.”
• “For the full year, we continue to expect to generate between $90 million - $100 million in free cash flow 1 .”
• “Conference Call Information MediaAlpha will host a Q&A conference call today to discuss the Company's third quarter 2026 results and its financial outlook for the fourth quarter and full year of 2026 at 2:00 p.m.”

Quoted word-for-word from the SEC 8-K results press release.

MAX analyst estimates and revisions

MAX options: expected move

30-day implied volatility 64% vs 64.5% realized over the last 30 trading days. Put/call ratio (volume) 0. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.

Key Statistics (as of October 29, 2026 at 07:19 UTC)

Technical Analysis (MAX)

Nexqual's technical model rates MAX "STRONG BUY" based on 5 bullish and 0 bearish signals across 127 daily candles, as of October 29, 2026 at 07:19 UTC.

Analyst Ratings (MAX)

Wall Street analysts rate MAX "Buy" based on 8 analysts, with a mean price target of USD 14.5 (range USD 10.5–19), per Nexqual as of October 29, 2026 at 07:19 UTC.

Earnings (MAX)

Recent Earnings History

Source: Nexqual, October 29, 2026 at 07:19 UTC.

Financials & Fundamentals (MAX)

Source: Nexqual, October 29, 2026 at 07:19 UTC.

Financial Health Score (MAX)

Nexqual rates MediaAlpha, Inc.'s overall financial health "Mixed" across five dimensions, as of October 29, 2026 at 07:19 UTC.

Ownership (MAX)

Source: Nexqual, October 29, 2026 at 07:19 UTC.

Leadership (MAX)

MediaAlpha, Inc. is led by Steven M. Yi, Co-Founder, CEO, President & Director, per Nexqual as of October 29, 2026 at 07:19 UTC.

Major Backers & Investors (MAX)

Notable institutional backers of MediaAlpha, Inc. include White Mountains Insurance Group, Ltd., Clearline Capital, LP, JPMorgan, according to Nexqual as of October 29, 2026 at 07:19 UTC.

Active Investors

Index Funds (Passive)

Source: Nexqual, October 29, 2026 at 07:19 UTC.

From MediaAlpha, Inc.'s Latest SEC 10-K Filing (filed 2026-02-23)

Key Strengths & Strategy (as disclosed to the SEC)

• During 2025, high-intent consumers shopping for insurance products on the websites of sellers on our platform and our proprietary websites resulted in approximately 141 million Consumer Referrals acquired by Demand Partners on our platform.
• During the year ended December 31, 2025, high-intent consumers shopping for insurance products on the websites of sellers on our platform and our proprietary websites resulted in approximately 141 million Consumer Referrals being acquired by buyers on our platform.
• We believe our proprietary technology will allow us to react nimbly to growing demands and opportunities in emerging verticals.
• During 2025, consumers shopping for insurance products through the websites of our diversified group of Supply Partners and our proprietary websites drove an average of 11.8 million Consumer Referrals on our platform each month.

Partnerships

• In July 2025, we reached agreement with the staff of the FTC ("FTC Staff") on the terms of a Consent Order that fully resolved all of the FTC's claims, which became effective in October 2025 ("Consent Order").

Legal & Regulatory Risks (Item 1A, quoted)

• Laws and regulations regulating insurance activities are complex and could negatively affect us and/or our Supply and Demand Partners, which could in turn have a material and adverse effect on our business, may reduce our profitability and potentially limit our growth.
• The cost of compliance with such regulations or any non-compliance could impose material costs on us and our partners and negatively affect our or their business, marketing practices, and budgets, any of which could have a material and adverse effect on our business, financial condition, operating results, cash flows, and prospects.
• Changes and developments in the regulation of the healthcare industry could adversely affect our business, financial condition, operating results, cash flows, and prospects.
• Changes in laws or regulations relating to privacy, data protection or the protection or transfer of personal data could materially and adversely affect our business, financial condition, operating results, cash flows, and prospects.

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

Peers & Related Stocks

Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 07:19 UTC. This page is informational and not investment advice.

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