MediaAlpha, Inc. (MAX) vs Nextdoor Holdings, Inc. (NXDR)

MediaAlpha, Inc. and Nextdoor Holdings, Inc. are both Internet Content & Information companies. Nextdoor Holdings, Inc. is the larger, with a market value of $967.1M against $591.8M — 1.6× the size. Nextdoor Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; MediaAlpha, Inc. trades at 5.3×. MediaAlpha, Inc. grew revenue faster over the last twelve months: 13.8% against 9.79%. MediaAlpha, Inc. has the higher net margin (7.94% vs −11.1%) and the higher return on invested capital (35.6% vs −87.4%). Across the 18 metrics below, MediaAlpha, Inc. leads on 13 and Nextdoor Holdings, Inc. on 5.

Valuation

Metric MAX NXDR Internet Content & Information median
P/E 5.27 n/m 10.24
P/S 0.41 3.48 0.87
P/B n/m 2.33 1.32
Price to free cash flow 8.85 77.94 8.85
EV/EBITDA 7.47 n/m 8.86
EV/Sales 0.53 2.13 1.15
Earnings yield 18.99% (3.01%) (1.58%)
Free cash flow yield 11.30% 1.28% 2.32%

Profitability

Metric MAX NXDR Internet Content & Information median
Gross margin 14.71% 84.19% 66.84%
Operating margin 6.89% (16.62%) (3.41%)
Net margin 7.94% (11.08%) (3.02%)
Free cash flow margin 4.60% 4.47% 1.75%
Return on equity (314.09%) (7.24%) 0.00%
Return on assets 31.91% (6.39%) (0.36%)
Return on invested capital 35.63% (87.38%) 0.00%

Growth

Metric MAX NXDR Internet Content & Information median
Revenue growth (TTM) 13.84% 9.79% 2.65%
EPS growth (last fiscal year) 25.81% 44.00% —
Revenue growth, 5-year CAGR 13.75% 15.88% 9.73%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MAX NXDR Internet Content & Information median
Debt to equity (35.71) 0.00 0.01
Current ratio 1.29 13.27 1.82
Net debt to EBITDA 4.09 5.78 (0.48)

Dividend

Metric MAX NXDR Internet Content & Information median
Dividend yield — — 3.19%
Payout ratio 0.00 0.00 0.00

Size

Metric MAX NXDR Internet Content & Information median
Market cap 591.81m 967.12m 283.68m

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