MAX (MediaAlpha) Debt-to-EBITDA : 1.74 (As of Mar. 2026) — 49% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MAX MediaAlpha Inc MAX
74 GF Score
Price $14.38
GF Value $18.49
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is MediaAlpha Debt-to-EBITDA?

MediaAlpha MAX +1.84% 74 Debt-to-EBITDA is 1.74 as of Mar. 2026, which is 49% below its 10-year median of 3.42. GuruFocus rates MAX with a GF Score™ of 74/100 and a GF Value™ of $18.49 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 306 Interactive Media companies, MediaAlpha ranks worse than 326797.06% on this metric.

Debt-to-EBITDA measures a company's ability to pay off its debt.

MediaAlpha's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was $7 Mil. MediaAlpha's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was $156 Mil. MediaAlpha's annualized EBITDA for the quarter that ended in Mar. 2026 was $94 Mil. MediaAlpha's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 was 1.74.

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

The historical rank and industry rank for MediaAlpha's Debt-to-EBITDA or its related term are showing as below:

MAX' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -5.06   Med: 3.42   Max: 112.46
Current: -2.18

During the past 8 years, the highest Debt-to-EBITDA Ratio of MediaAlpha was 112.46. The lowest was -5.06. And the median was 3.42.

MAX's Debt-to-EBITDA is ranked worse than
100% of 306 companies
in the Interactive Media industry
Industry Median: 0.67 vs MAX: -2.18

MediaAlpha  (NYSE:MAX) Debt-to-EBITDA Explanation

In the calculation of Debt-to-EBITDA, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by EBITDA. In some calculations, Total Liabilities is used to for calculation.


Be Aware

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.

According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.


MediaAlpha Debt-to-EBITDA Related Terms


MediaAlpha Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for MediaAlpha's Debt-to-EBITDA can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

MediaAlpha Debt-to-EBITDA Chart

MediaAlpha Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Debt-to-EBITDA
Get a 7-Day Free Trial 112.46 3.99 -5.06 3.65 -1.59

MediaAlpha Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Debt-to-EBITDA Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 19.28 -2.11 1.85 -0.38 1.74

MAX vs CARS, NRDS, SSTK: Debt-to-EBITDA Comparison

For the Internet Content & Information subindustry, MediaAlpha's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


MediaAlpha Debt-to-EBITDA vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, MediaAlpha's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where MediaAlpha's Debt-to-EBITDA falls into.


MAX
74GF Score
MediaAlpha Inc MAX
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

MediaAlpha Debt-to-EBITDA Calculation

Debt-to-EBITDA measures a company's ability to pay off its debt.

MediaAlpha's Debt-to-EBITDA for the fiscal year that ended in Dec. 2025 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(21.807 + 131.602) / -96.566
=-1.59

MediaAlpha's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(7.167 + 156.336) / 94.16
=1.74

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data, the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.

Frequently Asked Questions Learn more about Debt-to-EBITDA →
What does a Debt-to-EBITDA of 1.74 mean?
MediaAlpha (MAX) has a Debt-to-EBITDA of 1.74 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on MediaAlpha. This is 49% below median its historical median of 3.42. According to the industry distribution chart, MediaAlpha ranks #999999 out of 306 companies in the Interactive Media industry.
Is MediaAlpha's Debt-to-EBITDA too high?
MediaAlpha's current Debt-to-EBITDA of 1.74 is 49% below median its 10-year median of 3.42. The Interactive Media industry median Debt-to-EBITDA is 0.67. MediaAlpha's value of 1.74 is 159.7% above this industry median. Based on the distribution chart, MediaAlpha ranks #999999 out of 306 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, MediaAlpha has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does MediaAlpha's Debt-to-EBITDA compare to CARS and NRDS?
According to the Interactive Media industry distribution chart, MediaAlpha ranks #999999 out of 306 companies for Debt-to-EBITDA. This places MediaAlpha in the lower half of its industry. The industry median Debt-to-EBITDA is 0.67. MediaAlpha's value of 1.74 is 159.7% above this benchmark. While the company's 10-year median is 3.42 vs. the industry median of 0.67, MediaAlpha has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Interactive Media company?
The median Debt-to-EBITDA among Interactive Media companies is 0.67, based on 306 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MediaAlpha's current Debt-to-EBITDA of 1.74 is 159.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on MediaAlpha. For the Interactive Media industry, the median Debt-to-EBITDA is 0.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MediaAlpha's current Debt-to-EBITDA is 1.74, which is 49% below median its own 10-year median of 3.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MediaAlpha stock overvalued right now?
Based on GuruFocus' analysis, MediaAlpha (MAX) is currently considered Modestly Undervalued. The stock's GF Value™ is $18.49, compared to a current price of $14.38 — trading 22.2% below its estimated fair value. The current Debt-to-EBITDA is 1.74, which is 49% below median its 10-year median of 3.42 and 159.7% above the Interactive Media industry median of 0.67. MediaAlpha's overall GF Score™ is 74/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For MediaAlpha (MAX), the current Debt-to-EBITDA is 1.74 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is MediaAlpha (MAX) Overvalued in 2026?

Based on GuruFocus' analysis, MediaAlpha stock appears to be undervalued. The current stock price of $14.38 is trading 22.2% below its estimated GF Value™ of $18.49. GuruFocus considers MediaAlpha to be Modestly Undervalued.

Key valuation signals for MAX:

  • Debt-to-EBITDA: 1.74 (49% below median its 10-year median of 3.42)
  • GF Value™: $18.49 vs. price of $14.38 (22.2% below fair value)
  • GF Score™: 74/100 with 6 warning signs
  • Industry Position: 159.7% above the Interactive Media median (#999999 of 306)

No single metric tells the full story. See the MAX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


MediaAlpha Business Description

Address 700 South Flower Street, Suite 640, Los Angeles, CA, USA, 90017
MediaAlpha Inc provides a platform that enables insurance carriers and distributors to target and acquire customers. The company's technology platform brings insurance carriers and consumers together through a real-time, transparent, and results-driven ecosystem. It serves as a customer acquisition channel in property and casualty insurance, health insurance, and life insurance. The company operates in the United States and generates revenue by earning a fee for each consumer referral sold on its platform.
74GF Score

Get the complete analysis for MAX

Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$14.38
Price
$18.49
GF Value