MediaAlpha, Inc. (MAX)
Communication Services · NYQ
Fundamentals
Valuation and ratings
MediaAlpha, Inc. trades at USD14.27, which is 55% below the USD22.05 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 22 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 22.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
MAX earnings and analyst estimates
Recommendation mix, 7 analyst ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About MediaAlpha, Inc.
MediaAlpha, Inc., through its subsidiaries, operates an insurance customer acquisition platform in the United States. Its technology platform offers end customer acquisition for insurance carriers, agents, distributors, and other clients in a range of verticals, including property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.
MAX passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
7 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$9.88M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$6.69M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$4.48M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$3.18M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$2.13M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is MediaAlpha, Inc. (MAX) undervalued?
Against our discounted cash flow estimate of USD22.05, MAX at USD14.27 is 55% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own MAX?
7 of the institutions we track reported a position in MAX in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is MAX's P/E ratio?
MAX trades at 22.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
When does MAX report earnings next?
MediaAlpha, Inc. is scheduled to report on 29 Jul 2026. Companies move earnings dates, so read it as scheduled rather than certain.
The full research page for MAX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.