Magnite (MGNI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Magnite

NasdaqGS•Communication Services•Advertising Agencies

$23.78+0.07(<0.01%)Pre-market

Market Cap

$3.67B

P/E

22.0x

P/S

4.9x

P/B

3.9x

Magnite, Inc., together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company's platform offers applications and services for sellers of digital advertising inventory, or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that brings buyers and sellers together. It markets its solutions through sales teams that operate from various locations. Magnite, Inc. was formerly known as The Rubicon Project, Inc. and changed name to Magnite, Inc. in July 2020. The company was incorporated in 2007 and is headquartered in New York, New York.

How this company scores

ExcellentMetricSide Score: 89/100

Strongest: Profitability (25/25); weakest: Growth (20/25).

Profitability25/25

Growth20/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality23/25

Strengths

Rising free cash flowStrong marginsHigh ROERising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 22.0x5y range 10.5x – 27090.7x

Currently below its 10-quarter median.

P/S · 4.9x5y range 2.3x – 5.0x

Currently above its 20-quarter median.

P/B · 3.9x5y range 1.8x – 4.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Price & Volume

Market Cap $3.67B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $742.04M
Q. Revenue: $192.82M
TTM EBITDA: $170.73M
TTM Op. Income: $115.95M
Q. Op. Income: $31.22M
TTM Net Income: $166.89M
Q. Net Income: $19.37M
EPS: $0.14
Shares Out.: $143.02M

$742.04M in TTM revenue grew 8.3% YoY, reaching $192.82M last quarter. TTM EBITDA of $170.73M and TTM operating income of $115.95M show growth is flowing through to the bottom line. TTM net income of $166.89M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 67.8%
EBITDA Margin: 23.7%
Op. Margin: 16.2%
Net Margin: 10.0%

Op. margin of 16.2% is up 3.5% YoY — cost efficiency is improving. Net margin at 10.0% and gross margin of 67.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 28% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 22.0x
P/S Ratio: 4.9x
P/B Ratio: 3.9x

At 22.0x P/E, the stock trades within typical market levels. P/S of 4.9x and P/B of 3.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 72% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $3.03B
Cash: $332.62M
Long-Term Debt: $346.77M
Book Value: $936.27M
D/E Ratio: 0.4
Debt/EBITDA: 7.6

With $3.03B in assets and $346.77M in long-term debt, D/E is 0.4and book value is $936.27M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 18% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $186.63M
TTM Free Cash Flow: $215.76M
FCF Margin: 29.1%
FCF / Net Income: 1.3

TTM FCF of $215.76M on $186.63M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 18% — an improving trend.