MediaAlpha (MAX) Operating Margin (2019 - 2026)
MediaAlpha (MAX) reported Operating Margin of 7.22% for Q1 2026, up 717.0% year-over-year from 0.88% in Q1 2025, and down 5.82% quarter-over-quarter from 7.66% in Q4 2025.
MediaAlpha (MAX) Operating Margin (2019 - 2026) Analysis & Trends
MediaAlpha (MAX) has 8 years of Operating Margin data on file, last reported at 7.22% in Q1 2026.
- Operating Margin for Q1 2026 came in at 7.22%, up 717.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 3.83% (down 21.0% YoY), and the FY2025 annual result was 1.99%, down 295.0% from the prior year.
- Operating Margin fell to 7.22% in Q1 2026 per MAX's latest filing, from 7.66% in the prior quarter.
- Over five years, Operating Margin peaked at 7.66% in Q4 2025 and troughed at 19.78% in Q3 2023.
- A 5-year average of 2.86% and a median of 0.04% in 2025 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2024: Operating Margin tumbled 1184 bps in 2022, then jumped 2580 bps in 2024.
- A 5-year view of Operating Margin shows it stood at 5.27% in 2022, then jumped by 107 bps to 0.38% in 2023, then jumped by 1495 bps to 6.07% in 2024, then rose by 26 bps to 7.66% in 2025, then retreated by 6 bps to 7.22% in 2026.
- Business Quant data shows MAX's Operating Margin at 7.22% in Q1 2026, 7.66% in Q4 2025, and 6.44% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nebius | 1,913,603.98 Bn | 1,913,603.98 Bn | 295.20 Mn | -32.08% |
| 2 | Alphabet | 4,425.33 Bn | 4,209.71 Bn | 102.29 Bn | 36.12% |
| 3 | Meta Platforms | 1,502.66 Bn | 1,421.48 Bn | 46.09 Bn | 40.62% |
| 4 | Spotify Technology | 119.69 Bn | 109.44 Bn | 1.75 Bn | 15.77% |
| 5 | 33.22 Bn | 30.45 Bn | 511.94 Mn | 27.57% | |
| 6 | 13.64 Bn | 12.34 Bn | 768.96 Mn | -7.97% | |
| 7 | Kanzhun | 13.02 Bn | 10.92 Bn | 255.62 Bn | 30.14% |
| 8 | Snap | 9.72 Bn | 6.90 Bn | 1.29 Bn | -4.87% |
| 9 | Zillow | 8.26 Bn | 7.48 Bn | 519.00 Mn | 5.08% |
| 10 | MediaAlpha | 506.52 Mn | 449.46 Mn | 304.68 Mn | 7.22% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 7.22% |
| Dec 31, 2025 | 7.66% |
| Sep 30, 2025 | 6.44% |
| Jun 30, 2025 | -7.97% |
| Mar 31, 2025 | 0.04% |
| Dec 31, 2024 | 6.07% |
| Sep 30, 2024 | 6.02% |
| Jun 30, 2024 | 3.64% |
| Mar 31, 2024 | 1.87% |
| Dec 31, 2023 | 0.38% |
| Sep 30, 2023 | -19.78% |
| Jun 30, 2023 | -18.96% |
| Mar 31, 2023 | -8.55% |
| Dec 31, 2022 | -5.27% |
| Sep 30, 2022 | -11.88% |
| Jun 30, 2022 | -10.06% |
| Mar 31, 2022 | -5.52% |
| Dec 31, 2021 | -1.01% |
| Sep 30, 2021 | -0.04% |
| Jun 30, 2021 | 1.21% |