Magnite Inc. (MGNI) AI Stock Analysis

Magnite, Inc. operates an independent sell-side advertising platform that facilitates digital advertising transactions in the United States and globally. Formerly known as The Rubicon Project, Inc., the company rebranded to Magnite, Inc. in July 2020 and is headquartered in New York, New York. Magnite empowers publishers who own and operate digital media properties, including CTV channels, applications, and websites, to manage and monetize advertising inventory. For buyers such as advertisers, agencies, and demand side platforms (DSPs), Magnite provides solutions to purchase digital advertising inventory across various channels and formats, enhancing transparency and efficiency across the advertising supply chain.

Magnite increased annual revenue from $468.4M in FY2021 to $714.0M in FY2025, reflecting a 5-year revenue CAGR of 26.4% from FY2020. Annual revenue grew 6.9% in FY2025, following 7.8% growth in FY2024. Gross margin widened to 62.7% in FY2025 from 61.3% in FY2024 and 33.9% in FY2023. Operating margin rose to 13.7% in FY2025, recovering from -25.0% in FY2023 and -19.5% in FY2022. Net income reached $144.6M in FY2025 after a net loss of -$159.2M in FY2023. For the trailing twelve months ending June 30, 2026, revenue totaled $742.0M, with latest quarterly revenue growth of 11.2% and quarterly earnings growth of 65.3%.

As of June 30, 2026, Magnite held $332.6M in cash and short-term investments against total debt of $417.0M, resulting in net debt of $84.4M. Shareholders' equity stood at $936.3M with total assets of $3.03B, yielding a debt-to-equity ratio of 0.45 and a current ratio of 1.03. In FY2025, operating cash flow reached $236.2M and free cash flow was $165.6M. Capital allocation in FY2025 included $70.5M in capital expenditures and $46.3M in share buybacks.

Magnite has a market capitalization of $3.35B and an enterprise value of $3.54B. The stock trades at a trailing P/E of 21.2x and a forward P/E of 22.2x, above the median of its US-listed Communication Services peers of 16.2x and 14.1x, respectively. Its price-to-sales ratio is 4.5x compared to the peer median of 0.8x, and EV-to-EBITDA is 20.8x versus the peer median of 10.0x. Over the past year, Magnite gained 27.6%, outpacing the S&P 500 (SPY) return of 16.8%, though its 5-year return of -21.7% lagged the index return of 83.0%.

Wall Street analyst coverage includes 10 Strong Buy, 3 Buy, and 2 Hold ratings, with no Sell or Strong Sell ratings. The mean price target of $29.67 implies an upside of 26.9% from the last close of $23.37. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $761.4M and EPS of $1.10, representing 26.8% EPS growth. Magnite beat EPS estimates in 3 of the last 4 quarters, and its next earnings report is scheduled for November 4, 2026.

This page is an AI-written research summary of Magnite Inc. (MGNI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: MGNI income statement, MGNI balance sheet, MGNI key metrics, MGNI analyst forecast, MGNI chart. See the MGNI stock overview for the latest quote and news.