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Magnite, Inc. MGNI

Communication Services — Advertising Agencies
Cash Flow Champion (5y)
Growth Flags show if company had growth for consecutive years

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Insider Decisions

Total sells
25.47
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell 1 4 1 — 1 — — 1 8 5 11 7
Insider Ownership
2.00%

Capital & Financial Ratios

Market Cap
3,750.00
Revenue
742.04
Net Income
166.89
Free Cash Flow
200.30
Net Debt
14.15
Current Ratio
1.03
Debt/Equity
0.37
P/E ratio
21.50
P/S ratio
4.85
P/B ratio
3.84
Past 5Y EPS Growth
1.08%
This Y EPS Growth
30.42%
Next Y EPS Growth
18.52%
Next 5Y EPS Growth
20.09%
in millions of $

Dividends

Payout Ratio
0.00
Annual Dividend Rate
—
Annual Dividend Yield
—
total individual payouts
2025 ‡‡‡
2024 ‡‡‡
2023 ‡‡‡
2022 ‡‡‡
2021 ‡‡‡
2020 ‡‡‡
2019 ‡‡‡
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 326.22 483.22 553.36 332.62
Receivables 1,176.28 1,200.05 1,301.96 1,383.78
Inventory — — — —
Other — — — —
1,523.00 1,703.18 1,881.58 1,746.40
2023 2024 2025 Q'26
Payables 1,372.18 1,466.38 1,607.66 1,666.94
ST’ Debt — — — —
Other 5.96 9.88 5.46 9.29
1,402.14 1,495.98 1,841.74 1,703.73
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡ ‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 164.37 192.82 — —
—
’25 155.77 173.33 179.49 205.36
713.95
’24 149.32 162.88 162.00 193.97
668.17
’23 130.15 152.54 150.09 186.93
619.71
’22 118.08 137.78 145.82 175.40
577.07
’21 60.72 114.54 131.87 161.29
468.41
’20 36.30 42.35 60.98 82.00
221.63
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (120.77) 186.63 — —
—
’25 2.56 18.53 86.62 128.46
236.17
’24 (60.41) 89.57 91.35 114.70
235.20
’23 (30.89) 74.12 82.06 89.09
214.37
’22 21.63 42.32 39.89 88.71
192.55
’21 (1.23) 28.64 30.59 68.59
126.59
’20 (5.23) (16.26) (2.54) 11.97
(12.06)
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 (133.89) 170.15 — —
—
’25 (14.64) 2.47 64.60 99.43
151.87
’24 (69.66) 76.26 73.24 108.30
188.13
’23 (38.36) 63.05 75.25 77.04
176.98
’22 11.07 36.90 26.70 73.49
148.15
’21 (4.50) 15.79 24.20 61.97
97.46
’20 (9.84) (19.79) (5.51) 1.12
(34.02)
in millions of $

EPS

Mar Jun Sep Dec Year
’26 0.03 0.13 — —
—
’25 (0.07) 0.08 0.13 0.80
0.95
’24 (0.13) (0.01) 0.04 0.24
0.16
’23 (0.73) (0.54) (0.13) 0.16
(1.17)
’22 (0.34) (0.19) (0.18) (0.27)
(0.98)
’21 (0.11) 0.26 (0.18) 0.00
0.00
’20 (0.18) (0.36) (0.10) 0.05
(0.55)

Target Price Range

High
‡‡‡‡‡
‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

1.3
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡ ‡‡‡‡ ‡‡‡‡‡ 5.59 6.28 8.38 8.22 — — —
Low Price
‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ 18.22 15.73 18.38 26.65 — — —
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 947 911 905 971 — — —
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.61 0.68 0.74 0.74 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 577.07 619.71 668.17 713.95 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 46.77% 33.86% 61.26% 62.66% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (135.60) (157.55) 26.48 70.63 — — —
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (23.50%) (25.42%) 3.96% 9.89% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (130.32) (159.18) 22.79 144.61 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 226.16 247.10 62.63 57.32 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.34 4.54 4.75 5.01 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡ (0.98) (1.17) 0.16 1.01 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.45 1.57 1.67 1.66 ‡‡‡ — —
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.33) (0.27) (0.33) (0.59) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.11 1.30 1.34 1.07 — — —
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 5.95 5.14 5.47 6.47 ‡‡‡‡ — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 132.89 136.62 140.56 142.56 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ 0.00 0.00 99.50 16.07 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.29 2.03 3.35 3.24 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.67 1.79 2.91 2.51 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.02 2.40 3.49 2.99 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 11.75 8.41 12.38 14.05 — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 192.55 214.37 235.20 236.17 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (44.40) (37.38) (47.07) (84.30) ‡‡‡‡‡ ‡‡‡‡‡ —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 148.15 176.98 188.13 151.87 ‡‡‡‡‡ — —
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 201.23 120.87 207.20 39.84 — — —
Working Cap'
— — — ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 747.76 532.99 550.10 347.67 — — —
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 421.50 206.77 66.88 (205.70) — — —
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 791.30 701.68 768.22 922.35 — — —
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡ (4.80%) (5.89%) 0.82% 4.81% — — —
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (5.81%) (10.66%) 3.82% 8.51% — — —
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (15.59%) (21.32%) 3.10% 17.11% — — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Magnite (MGNI), a leading independent sell-side ad platform thriving in programmatic advertising and connected TV (CTV), has staged a impressive turnaround. Revenue has more than tripled since 2020 to $668 million in 2024 (up 8% YoY), driven by post-merger scaling and CTV demand, with revenue per employee rising 52% to $738,000 amid stable headcount—signaling sharp efficiency gains. Profitability arrived in 2024 with $23 million net income (from a $159 million loss prior), positive FCF of $188 million, and net debt slashed 84% to $67 million, flipping ROE positive at 3.1%.

The stock, however, has lagged fundamentals after a 2021 boom-bust cycle, trading at a 3.3x trailing PS ratio despite revenue tripling since 2019. Insider activity raises flags: over $30 million in sells (including CEO and CFO dumps) with zero buys, potentially signaling diversification but lacking conviction. Analysts remain bullish, projecting 122% average upside (up to 233%), with EPS accelerating to $0.65 by 2027 on 10%+ revenue growth and EV/Sales compressing to 1.7x.

Positioned for CTV’s 20%+ industry boom and ad market recovery, Magnite offers asymmetric upside for risk-tolerant investors at current discounts—but ad cyclicality, competition, and margin risks loom. Full analysis unpacks projections, correlations, and buy/dip strategy.

Read full commentary →

Magnite, Inc. (MGNI) Latest News

News by impact score

Fine-tune

18 Sep

4 , 7:44 AM
Google advertising antitrust ruling may reshape digital ad market dynamics and open opportunities for Magnite by limiting Google's dominance in ad tech. Ruling against Google could materially shift ad spend and competitive positioning toward Magnite.

17 Sep

4 www.fool.com, 12:03 PM
Magnite shares surged after the company reported stronger digital ad demand and expanded partnerships that boosted quarterly revenue beyond expectations. Revenue beat and new partnerships signal major positive shift in Magnite's growth trajectory and market position.

4 stocktwits.com, 11:05 AM
Magnite receives multiple price target hikes from analysts following a ruling against Google in ad-tech, viewed as a win boosting independent players' positioning. Price target increases reflect analyst expectations of meaningful growth acceleration for Magnite from the regulatory outcome.

3 247wallst.com, 10:12 AM
Magnite shares rose 5% after Craig-Hallum lifted its price target to $32 citing Google auction remedies. PubMatic gained 6% while Trade Desk showed little movement. Analyst target raise to $32 on Google auction remedies points to moderate upside potential for Magnite in ad tech market shifts.

3 , 9:12 AM
Magnite (MGNI) stock may be 27% overvalued even as the company advances its AI advertising initiatives. Valuation concerns tied to AI ad growth can moderately affect MGNI investor sentiment and near-term trading.

16 Sep

4 , 8:00 AM
Magnite advances its agentic vision as major media owners, buyers and technology players leverage its orchestration layer. Major industry players adopting Magnite orchestration layer indicates significant strategic validation and market traction.

3 , 9:40 AM
Magnite (MGNI) offers three major reasons supporting investor interest and positive company outlook. Positive highlights of company strengths may moderately boost market sentiment and near-term performance.

11 Sep

3 , 10:50 AM
TTD pursues expansion across EMEA and APAC markets to accelerate revenue growth in digital advertising. TTD regional growth may intensify competition for Magnite outside the US without directly altering MGNI operations.

10 Sep

4 , 8:00 AM
Magnite expands partnership with ITN to introduce Agentic AI solution for local linear TV. New AI solution via expanded partnership targets core ad tech operations and could shift competitive positioning.

9 Sep

3 www.marketbeat.com, 9:02 PM
Walmart is investing in connected TV, artificial intelligence and self-service tools to expand its advertising operations and capture larger market share in digital ads. Walmart's CTV and AI ad push may create new demand or competitive pressure for Magnite's video and programmatic platforms.

3 , 9:15 AM
Telly advances television advertising past traditional commercial breaks via new formats and targeting capabilities integrated with Magnite's platform, expanding ad inventory and engagement options in connected TV. Telly integration adds new CTV ad formats that may incrementally lift Magnite revenue and positioning without fundamentally shifting company trajectory.

4 Sep

3 www.trefis.com, 12:48 PM
Questions arise whether AppLovin stock already prices in a steeper slowdown than management forecasts, with potential ripple effects for ad tech peers including Magnite. AppLovin slowdown signals could shift competitive dynamics and investor focus toward Magnite in the programmatic ad market.

2 Sep

4 stocktwits.com, 11:22 PM
MGNI stock heads for another green week as analysts state Google AdTech ruling opens door to bigger opportunity. Google AdTech ruling potentially expands MGNI opportunities in adtech market substantially.

30 Aug

4 , 4:14 AM
Magnite lifted its guidance, raising questions on whether the stock is fully priced. Guidance lift signals major positive shift likely to drive significant stock revaluation and investor sentiment changes.

28 Aug

4 , 11:48 AM
Trade Desk launched Kokai Zuma with new Agentic AI capabilities. Trade Desk AI launch strengthens a direct competitor in programmatic ads and pressures Magnite positioning.

24 Aug

3 , 8:47 AM
TTD broadens its customer count through three drivers winning new businesses and agencies. TTD customer gains may modestly intensify competition for Magnite in programmatic advertising.

21 Aug

3 , 10:01 AM
Trade Desk issues weak Q3 outlook, raising concerns over performance and pressuring ad tech peers including Magnite. Trade Desk weakness signals potential sector pressure that may affect Magnite's competitive position and near-term sentiment.

19 Aug

4 www.marketbeat.com, 12:01 AM
Magnite identifies CTV market surge and remedies from Google's antitrust case as primary growth catalysts. CTV expansion and Google antitrust remedies represent major strategic tailwinds for Magnite's trajectory.

15 Aug

4 www.marketbeat.com, 6:01 AM
Magnite targets CTV growth through partnerships with Walmart and Samsung plus new AI ad tools. Walmart and Samsung partnerships plus AI tools signal major CTV expansion potential for Magnite.

10 Aug

4 www.marketbeat.com, 8:04 PM
Magnite achieves 36% CTV growth driven by expanding sports and SMB ad demand. 36% CTV growth in sports and SMB segments signals major positive shift in core revenue trajectory.

7 Aug

5 www.trefis.com, 8:19 AM
DoubleVerify shows links to a takeover profile targeting Magnite, Inc. (MGNI) as a potential acquisition candidate. Takeover speculation directly signals major ownership and strategic shift for MGNI.

6 Aug

4 , 1:12 AM
Magnite Inc posted Q2 2026 results showing 36% CTV revenue growth and raised full-year guidance. 36% CTV surge plus raised guidance signal accelerated revenue trajectory and stronger competitive position.

3 , 7:11 AM
Magnite posts H1 2026 profit surge with modest sales growth, raising questions on whether this shifts the MGNI investment case. Profit surge with modest sales growth points to margin gains but limited revenue expansion that can moderately reshape future performance and sentiment.

5 Aug

3 www.marketbeat.com, 11:03 PM
Magnite Q2 earnings call highlighted revenue growth, operational metrics and forward guidance for its ad tech platform. Q2 results and guidance directly inform near-term financial expectations and market positioning.

3 , 8:35 PM
Magnite (MGNI) Q2 earnings and revenues topped estimates. Q2 earnings and revenue beat signals stronger financial results with noticeable effect on near-term performance and sentiment.

3 , 5:48 PM
Magnite missed Q2 CY2026 revenue estimates yet its stock rose 8.6%. Revenue miss offset by immediate stock gain signals moderate effects on performance and sentiment.

3 , 4:05 PM
Magnite, Inc. (MGNI) reported its second quarter 2026 results. Quarterly results release key financial metrics that can shift near-term stock sentiment and valuation.

3 , 3:15 PM
Magnite (MGNI) earnings have returned focus to determining the stock's fair value. Earnings reports can prompt valuation reassessments that moderately affect MGNI share price and sentiment.

4 Aug

3 , 3:57 PM
Magnite (MGNI) will report earnings tomorrow with analyst estimates and expectations for revenue, EPS, and ad platform performance. Earnings releases frequently move MGNI shares based on beats or misses versus consensus.

21 Jul

3 , 8:00 AM
Business Insider launches standalone FAST channel and partners with Magnite’s SpringServe to drive next phase of streaming growth. Partnership expands SpringServe adoption in FAST channels with major publisher, supporting moderate revenue and positioning gains.
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