Loading…
Runs an independent ad-tech platform that helps publishers and streaming services sell advertising inventory programmatically.
Runs an independent ad-tech platform that helps publishers and streaming services sell advertising inventory programmatically.
Takes a fee on the advertising spend that passes through its exchange: publishers and streaming services place ad slots with it and buyers bid for them, so revenue tracks ad volume and prices, not anything it owns. Its CTV (ads on internet-delivered television) focus came from the 2020 Telaria merger and the 2021 SpotX purchase.
Moat: narrow (network effects, scale, data). Largest independent sell-side platform scale in connected TV, but ad-tech is fragmented and competitive.
Headquarters: Los Angeles, California, United States · Founded: 2007 · Employees: 971
Size Magnite (MGNI) is a United States Information Technology company (Packaged Software) with a market value of $3.93B, the 1357th largest of 3,117 United States companies the cockpit tracks. Shares closed at $27.39 on 6 Nov 2026.
Performance Over six months the shares gained 93.8%, against +1.8% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 8.3% over the last twelve months (peer median +24.0%); the operating margin is 15.7% (peer median 5.7%).
Valuation It trades at 20.9× forward earnings against a peer median of 27.8× (8th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 32% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.9 points below its cost of capital (15.9% WACC).
Short interest Short interest is 7.3% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $742M | $714M | $668M | $620M | $577M |
| Revenue growth | — | +7% | +8% | +7% | — |
| Gross profit | $480M | $443M | $398M | $181M | $196M |
| EBITDA | $171M | $151M | $110M | $93.3M | $111M |
| Net income | $167M | $145M | $22.8M | -$159M | -$130M |
| Free cash flow | $216M | $166M | $202M | $188M | $162M |
| Capital expenditure | $80.6M | $84.3M | $47.1M | $37.4M | $44.4M |
| Total debt | $417M | $626M | $609M | $607M | $814M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Magnite MGNI | $3.93B | +94% | +8% | 16% | 20.9× | 31.9% |
| PubMatic PUBM | $811M | +82% | -1% | -5% | 360.6× | 7.8% |
| Trade Desk (The) TTD | $6.11B | -44% | +12% | 20% | 121.4× | -5.8% |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 20.5× | 18.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MGNI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.6% | +3.5% | 9th highest of 21 |
| 6-month return | +93.8% | +1.8% | 2nd highest of 20 |
| Distance from 52-week high | -2.8% | -40.8% | 2nd highest of 21 |
| Revenue growth (TTM) | +8.3% | +24.0% | 3rd lowest of 21 |
| Operating margin | 15.7% | 5.7% | 7th highest of 20 |
| Forward P/E | 20.9× | 27.8× | 8th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 31.9% | 12.9% | 5th most demanding of 14 |
| Growth delivered (Del g) | +26.4% | +19.0% | 4th highest of 14 |
| Hurdle (Req g minus delivered) | +5.5 pp | -7.7 pp | 5th most demanding of 14 |
| ROIC minus cost of capital | -6.9 pp | -3.7 pp | 5th lowest of 16 |
| EV / EBITDA | 23.5× | 14.4× | 5th most expensive of 10 |
| Net debt / EBITDA | 0.5× | -0.2× | 4th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Magnite MGNI | United States | $3.93B | +94% | +8% | 16% | 20.9× | 31.9% | +26.4% |
| DLocal DLO | United States | $3.94B | +2% | +57% | 18% | 14.4× | 2.4% | +60.0% |
| Life360 LIF | United States | $3.86B | +8% | +34% | 1% | 33.9× | n/a | n/a |
| Kinaxis KXS.TO | Canada | $4.01B | +35% | +16% | 18% | 30.9× | 12.9% | +20.6% |
| Momenta Global 6880.HK | Hong Kong | $4.02B | n/a | +82% | -32% | n/a | n/a | n/a |
| Thunder Software Technology 300496.SZ | China | $3.83B | -13% | +40% | 6% | 40.0× | n/a | n/a |
| First Advantage FA | United States | $4.04B | +47% | +33% | 11% | 17.4× | 20.8% | +25.3% |
| Core Scientific CORZ | United States | $3.78B | -49% | +26% | -31% | n/a | n/a | n/a |
| Geovis Technology 688568.SS | China | $3.78B | -45% | -64% | -70% | n/a | n/a | n/a |
| G-Bits Network Technology (Xiamen) 603444.SS | China | $3.77B | -14% | +35% | 40% | 12.5× | -0.9% | +17.7% |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | n/a | n/a | n/a |
| Koei Tecmo 3635.T | Japan | $3.74B | +15% | +19% | 43% | 15.1× | -5.7% | +7.9% |
| Glory View Technology 301396.SZ | China | $3.72B | -49% | +53% | n/a | 25.3× | n/a | n/a |
| monday.com MNDY | United States | $3.72B | +22% | +24% | 3% | 14.2× | 23.6% | +50.2% |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% | +15.0% |
| Appian APPN | United States | $3.70B | +135% | +21% | 4% | 41.6× | 42.9% | +19.0% |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% | -2.4% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 131.0× | 49.7% | -7.3% |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 30.2× | 11.3% | +25.8% |
| Sega Sammy 6460.T | Japan | $4.28B | +46% | +24% | 10% | 17.8× | -2.3% | +11.9% |
| HUB24 HUB.AX | Australia | $4.39B | -4% | +23% | 29% | 42.6× | 35.6% | +35.7% |