Recent News
On June 8, 2026 Magnite’s annual meeting re-elected three Class III directors and ratified Deloitte & Touche LLP as auditor; the related Form 8-K filed June 11 reports the vote outcomes. In late May–June the company highlighted commercial partnerships and platform integrations with publishers and buyers across CTV and omnichannel inventory, naming several deal expansions and integrations. Market outlets reported insider share sales in June and related market commentary during the period.
Technical Analysis
Directional indicators: ADX sits at 27.92, indicating a strong trend strength; DI+ shows a dip & reversal and DI- shows a peak & reversal, both of which constitute bullish directional readings that support short-term upward price bias relative to the WMDST valuation.
MACD and signal: MACD reads 0.78 with a dip & reversal trend and sits above the signal line (0.58), confirming bullish momentum and suggesting continuation of recent buying pressure that has pushed price above shorter-term averages.
Price vs averages and bands: The 12-day EMA sits at $20.44 and the 20-day average at $19.68 while the 200-day average equals $15.21; the last close of $24.32 trades well above all listed averages and above the upper Bollinger band levels ($21.42 for 1×, $23.17 for 2×), signaling an extended short-term posture that heightens mean-reversion risk relative to model targets.
MRO: MRO reads 4.79 with a dip & reversal trend. Because MRO currently sits positive, the price sits above the modeled target and faces downside pressure toward that target even as momentum indicators remain constructive.
RSI and volatility: RSI at 63.07 with a dip & reversal trend reflects sustained buying without reaching classic overbought extremes; 42-day volatility near 4% and elevated volume (10-day avg ~2.80M vs current ~9.99M) indicate episodes of concentrated flows that can amplify short-term moves.
Fundamental Analysis
Profitability and margins: EBIT equals $10,739,000 and EBITDA equals $25,106,000; EBIT margin stands at 6.53%. That EBIT margin remains well below the industry peer mean (61.87%) and industry peer median (70.93%). QoQ change in EBIT margin registers -68.71% and YoY change reports -592.31% (reported values as provided), indicating substantial margin compression on sequential and year-over-year bases.
Revenue and growth: Reported total revenue equals $164,371,000 with YoY revenue growth of 1.35% and a QoQ change of -238.52% (reported value). Asset turnover equals 0.0538, signaling low revenue generated per dollar of assets; this metric sits below the industry peer mean of 0.16204.
Cash flow and liquidity: Operating cash flow shows -$120,766,000 and free cash flow equals -$133,886,000, yielding a free cash flow yield of -7.10%. Cash flow margin equals -79.91%. Cash and short-term investments total $184,648,000 while the cash ratio stands at 0.1139, reflecting limited near-term liquid coverage of current liabilities.
Capital structure and coverage: Total debt equals $429,667,000 with net debt near $166,201,000 and debt-to-EBITDA about 17.11x. Interest coverage registers 1.53×, well below the industry peer mean of 30.34×, indicating constrained earnings capacity to cover interest expense versus peers.
Valuation metrics and earnings: Trailing P/E equals 101.21× while forward P/E equals 43.82×; price-to-sales equals 11.47× and enterprise multiple reads 84.86×. EPS for the last reported period equaled $0.13 versus estimate $0.11, producing an EPS surprise of +18.18%. WMDST values the stock as over-valued, a conclusion supported by elevated P/E and enterprise multiples, negative free cash flow, and low cash-flow margins despite the recent earnings beat.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-05-06 |
| NEXT REPORT DATE: | 2026-11-04 |
| CASH FLOW | Begin Period Cash Flow | $ 553.4 M |
| Operating Cash Flow | $ -120.77 M | |
| Capital Expenditures | $ -13.12 M | |
| Change In Working Capital | $ -156.42 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -368.71 M | |
| End Period Cash Flow | $ 184.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 164.4 M | |
| Forward Revenue | $ 423.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 60.4 M | |
| Depreciation | $ 14.4 M | |
| Depreciation and Amortization | $ 14.4 M | |
| Research and Development | $ 25.2 M | |
| Total Operating Expenses | $ 156.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 104.0 M | |
| EBITDA | $ 25.1 M | |
| EBIT | $ 10.7 M | |
| Operating Income | $ 7.7 M | |
| Interest Income | $ 2.5 M | |
| Interest Expense | $ 7.0 M | |
| Net Interest Income | $ -4.56 M | |
| Income Before Tax | $ 3.7 M | |
| Tax Provision | $ -681.00 K | |
| Tax Rate | 40.0 % | |
| Net Income | $ 4.4 M | |
| Net Income From Continuing Operations | $ 4.4 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.11 | |
| EPS Actual | $ 0.13 | |
| EPS Difference | $ 0.02 | |
| EPS Surprise | 18.182 % | |
| Forward EPS | $ 0.32 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.9 B | |
| Intangible Assets | $ 1.0 B | |
| Net Tangible Assets | $ -105.23 M | |
| Total Current Assets | $ 1.6 B | |
| Cash and Short-Term Investments | $ 184.6 M | |
| Cash | $ 184.6 M | |
| Net Receivables | $ 1.4 B | |
| Inventory | — | |
| Long-Term Investments | $ 85.3 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.6 B | |
| Short-Term Debt | $ 3.6 M | |
| Total Current Liabilities | $ 1.6 B | |
| Net Debt | $ 166.2 M | |
| Total Debt | $ 429.7 M | |
| Total Liabilities | $ 2.0 B | |
| EQUITY | ||
| Total Equity | $ 917.9 M | |
| Retained Earnings | $ -512.15 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 6.41 | |
| Shares Outstanding | 143.301 M | |
| Revenue Per-Share | $ 1.15 | |
| VALUATION | Market Capitalization | $ 1.9 B |
| Enterprise Value | $ 2.1 B | |
| Enterprise Multiple | 84.862 | |
| Enterprise Multiple QoQ | 123.633 % | |
| Enterprise Multiple YoY | -43.057 % | |
| Enterprise Multiple IPRWA | high: 165.258 MGNI: 84.862 mean: 48.122 median: 44.874 low: -123.613 |
|
| EV/R | 12.962 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.21 | |
| Asset To Liability | 1.452 | |
| Debt To Capital | 0.319 | |
| Debt To Assets | 0.146 | |
| Debt To Assets QoQ | -26.331 % | |
| Debt To Assets YoY | -36.743 % | |
| Debt To Assets IPRWA | high: 1.025 mean: 0.149 MGNI: 0.146 median: 0.129 low: 0.001 |
|
| Debt To Equity | 0.468 | |
| Debt To Equity QoQ | -31.071 % | |
| Debt To Equity YoY | -43.686 % | |
| Debt To Equity IPRWA | high: 1.998 MGNI: 0.468 mean: 0.229 median: 0.189 low: -0.885 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.054 | |
| Price To Book QoQ | -8.398 % | |
| Price To Book YoY | -16.744 % | |
| Price To Book IPRWA | high: 11.534 median: 7.963 mean: 7.439 MGNI: 2.054 low: -2.74 |
|
| Price To Earnings (P/E) | 101.214 | |
| Price To Earnings QoQ | 137.86 % | |
| Price To Earnings YoY | -6.109 % | |
| Price To Earnings IPRWA | high: 156.78 MGNI: 101.214 median: 61.576 mean: 58.92 low: -181.412 |
|
| PE/G Ratio | -1.639 | |
| Price To Sales (P/S) | 11.471 | |
| Price To Sales QoQ | 13.891 % | |
| Price To Sales YoY | -2.363 % | |
| Price To Sales IPRWA | high: 34.805 median: 34.69 mean: 32.368 MGNI: 11.471 low: 0.003 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 43.824 | |
| Forward PE/G | -0.71 | |
| Forward P/S | 4.594 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.756 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.054 | |
| Asset Turnover Ratio QoQ | -20.296 % | |
| Asset Turnover Ratio YoY | -4.508 % | |
| Asset Turnover Ratio IPRWA | high: 0.556 median: 0.169 mean: 0.162 MGNI: 0.054 low: 0.001 |
|
| Receivables Turnover | 0.12 | |
| Receivables Turnover Ratio QoQ | -26.264 % | |
| Receivables Turnover Ratio YoY | -12.996 % | |
| Receivables Turnover Ratio IPRWA | high: 9.116 mean: 1.994 median: 1.746 MGNI: 0.12 low: 0.034 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 758.5 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -1310.948 | |
| Cash Conversion Cycle Days QoQ | -9.21 % | |
| Cash Conversion Cycle Days YoY | 11.145 % | |
| Cash Conversion Cycle Days IPRWA | high: 186.093 median: 23.301 mean: 23.042 low: -334.163 MGNI: -1310.948 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 6.162 | |
| CapEx To Revenue | -0.08 | |
| CapEx To Depreciation | -0.913 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.3 B | |
| Net Invested Capital | $ 1.3 B | |
| Invested Capital | $ 1.3 B | |
| Net Tangible Assets | $ -105.23 M | |
| Net Working Capital | $ 26.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.114 | |
| Current Ratio | 1.016 | |
| Current Ratio QoQ | -0.506 % | |
| Current Ratio YoY | 3.217 % | |
| Current Ratio IPRWA | high: 8.196 mean: 1.989 median: 1.922 MGNI: 1.016 low: 0.108 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 17.114 | |
| Cost Of Debt | 0.796 % | |
| Interest Coverage Ratio | 1.532 | |
| Interest Coverage Ratio QoQ | -118.582 % | |
| Interest Coverage Ratio YoY | -724.217 % | |
| Interest Coverage Ratio IPRWA | high: 82.584 median: 39.705 mean: 30.339 MGNI: 1.532 low: -65.038 |
|
| Operating Cash Flow Ratio | -0.081 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 2069.448 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -6.885 % | |
| Revenue Growth | -19.958 % | |
| Revenue Growth QoQ | -238.52 % | |
| Revenue Growth YoY | 1.351 % | |
| Revenue Growth IPRWA | high: 42.687 % median: -3.455 % mean: -3.814 % MGNI: -19.958 % low: -48.267 % |
|
| Earnings Growth | -61.765 % | |
| Earnings Growth QoQ | -188.236 % | |
| Earnings Growth YoY | -4.545 % | |
| Earnings Growth IPRWA | high: 160.0 % median: 81.206 % mean: 65.758 % MGNI: -61.765 % low: -229.412 % |
|
| MARGINS | ||
| Gross Margin | 63.249 % | |
| Gross Margin QoQ | -4.387 % | |
| Gross Margin YoY | 5.971 % | |
| Gross Margin IPRWA | high: 100.0 % mean: 64.7 % MGNI: 63.249 % median: 62.445 % low: -6.038 % |
|
| EBIT Margin | 6.533 % | |
| EBIT Margin QoQ | -68.709 % | |
| EBIT Margin YoY | -592.313 % | |
| EBIT Margin IPRWA | high: 70.926 % median: 70.926 % mean: 61.868 % MGNI: 6.533 % low: -29.087 % |
|
| Return On Sales (ROS) | 4.696 % | |
| Return On Sales QoQ | -81.5 % | |
| Return On Sales YoY | -453.881 % | |
| Return On Sales IPRWA | high: 40.617 % median: 36.121 % mean: 34.953 % MGNI: 4.696 % low: -55.832 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -133.89 M | |
| Free Cash Flow Yield | -7.101 % | |
| Free Cash Flow Yield QoQ | -247.722 % | |
| Free Cash Flow Yield YoY | 787.625 % | |
| Free Cash Flow Yield IPRWA | high: 15.098 % mean: 0.41 % median: 0.265 % MGNI: -7.101 % low: -13.218 % |
|
| Free Cash Growth | -234.649 % | |
| Free Cash Growth QoQ | -535.131 % | |
| Free Cash Growth YoY | 106.71 % | |
| Free Cash Growth IPRWA | high: 388.901 % mean: -51.473 % median: -58.796 % MGNI: -234.649 % low: -396.125 % |
|
| Free Cash To Net Income | -30.346 | |
| Cash Flow Margin | -79.905 % | |
| Cash Flow To Earnings | -29.769 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.144 % | |
| Return On Assets QoQ | -96.439 % | |
| Return On Assets YoY | -141.379 % | |
| Return On Assets IPRWA | high: 9.633 % median: 9.633 % mean: 8.622 % MGNI: 0.144 % low: -17.322 % |
|
| Return On Capital Employed (ROCE) | 0.81 % | |
| Return On Equity (ROE) | 0.005 | |
| Return On Equity QoQ | -96.395 % | |
| Return On Equity YoY | -137.028 % | |
| Return On Equity IPRWA | high: 0.153 median: 0.131 mean: 0.12 MGNI: 0.005 low: -0.326 |
|
| DuPont ROE | 0.48 % | |
| Return On Invested Capital (ROIC) | 0.508 % | |
| Return On Invested Capital QoQ | -77.826 % | |
| Return On Invested Capital YoY | -447.945 % | |
| Return On Invested Capital IPRWA | high: 11.327 % median: 11.327 % mean: 9.494 % MGNI: 0.508 % low: -10.695 % |
|