Magnite Inc. Common Stock (MGNI)

FairStock Score: 70/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Magnite as a Graham-style bargain hunter and Buffett-style business appraiser, and the picture is a genuine but unfinished turnaround. FairStock labels it TURNAROUND — returned to profit after a loss within the last three years — and the filed numbers support that: fiscal 2023 produced revenue of $619.7M and a net loss of $159.2M, while fiscal 2025 produced revenue of $714.0M and net income of $144.6M. The latest quarter, fiscal Q2 2026, the quarter ended 2026-06-30, had revenue of $192.8M and net income of $19.4M, or diluted EPS of $0.13, versus $173.3M and $11.1M, or $0.08, in fiscal Q2 2025. That is real progress, and trailing free cash flow of $200.3M, a 6.5% FCF yield, and a FairStock Piotroski score of 8/9 suggest improving financial condition. But I cannot verify a durable moat from these figures; the business is an independent ad platform with high beta of 2.29, ROCE of only 2.43%, and a FairStock Altman Z-score of 0.83. Valuation is the sticking point: at the 2026-10-26 close of $21.62, FairStock's P/E is 19.65, P/B is 3.31, EV/EBITDA is 19.76, and the Graham Number is $12.71, leaving a -80.09% margin of safety. PEG of 0.28 looks attractive only if growth persists. I see an improving business, not a bargain.

In plain English: Magnite runs a platform that helps publishers sell digital advertising space, including streaming TV and websites. The business now earns a profit and generates cash, but its turnaround is still recent, and the record includes a large loss a few years ago. At the 2026-10-26 close of $21.62, the price looks expensive compared with a conservative value estimate based on profits and accounting value, even though cash generation is decent.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer