Tearsheet

Magnite (MGNI)


Market Price (10/25/2025): $19.94 | Market Cap: $2.8 Bil
Sector: Communication Services | Industry: Advertising

Magnite (MGNI)


Market Price (10/25/2025): $19.94
Market Cap: $2.8 Bil
Sector: Communication Services
Industry: Advertising

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%
  Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 65x
1 Attractive yield
FCF Yield is 6.0%
  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0%
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%
1 Attractive yield
FCF Yield is 6.0%
2 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 65x
3 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.0%

Market Valuation & Key Metrics

MGNI Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
MGNI Return276%-43%-39%-12%70%20%119%
Peers Return13%3%-30%-1%-5%-15%-35%
S&P 500 Return16%27%-19%24%23%15%106%

Monthly Win Rates [3]
MGNI Win Rate67%25%33%58%50%56% 
Peers Win Rate20%33%22%30%37%52% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
MGNI Max Drawdown-49%-46%-67%-39%-9%-43% 
Peers Max Drawdown-12%-2%-37%-18%-22%-33% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: MMS, UIS, BAOS, EDHL, HAO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/24/2025 (YTD)

How Low Can It Go

Unique KeyEventMGNIS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-90.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven969.2%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-68.2%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven214.7%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven230 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-83.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven499.3%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven518 days120 days

Compare to MMS, UIS, BAOS, EDHL, HAO


In The Past

Magnite's stock fell -90.6% during the 2022 Inflation Shock from a high on 2/11/2021. A -90.6% loss requires a 969.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Magnite (MGNI)

Better Bets than Magnite (MGNI)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to MGNI. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TTD_9302025_Dip_Buyer_High_CFO_Margins_ExInd_DE09302025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
10.4%10.4%0.0%
CMCSA_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025CMCSAComcastMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-10.9%-10.9%-11.0%
PINS_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
7.5%7.5%-2.3%
IRDM_4302025_Dip_Buyer_FCFYield04302025IRDMIridium CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-23.6%-23.6%-27.4%
IAS_4302025_Dip_Buyer_High_CFO_Margins_ExInd_DE04302025IASIntegral Ad ScienceDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.3%44.3%0.0%
MGNI_8312023_Dip_Buyer_High_CFO_Margins_ExInd_DE08312023MGNIMagniteDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
45.7%67.2%-21.1%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TTD_9302025_Dip_Buyer_High_CFO_Margins_ExInd_DE09302025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
10.4%10.4%0.0%
CMCSA_7312025_Monopoly_xInd_xCD_Getting_Cheaper07312025CMCSAComcastMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-10.9%-10.9%-11.0%
PINS_5312025_Monopoly_xInd_xCD_Getting_Cheaper05312025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
7.5%7.5%-2.3%
IRDM_4302025_Dip_Buyer_FCFYield04302025IRDMIridium CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-23.6%-23.6%-27.4%
IAS_4302025_Dip_Buyer_High_CFO_Margins_ExInd_DE04302025IASIntegral Ad ScienceDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
44.3%44.3%0.0%
MGNI_8312023_Dip_Buyer_High_CFO_Margins_ExInd_DE08312023MGNIMagniteDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
45.7%67.2%-21.1%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Magnite

Financials

MGNIMMSUISBAOSEDHLHAOMedian
NameMagnite Maximus Unisys Baosheng.Everbrig.Haoxi He. 
Mkt Price19.9487.723.863.210.761.223.54
Mkt Cap2.85.00.3---2.8
Rev LTM6855,4291,958---1,958
Op Inc LTM76517300---300
FCF LTM169-144-237----144
FCF 3Y Avg151150-68---150
CFO LTM227-56-174----56
CFO 3Y Avg2002432---200

Growth & Margins

MGNIMMSUISBAOSEDHLHAOMedian
NameMagnite Maximus Unisys Baosheng.Everbrig.Haoxi He. 
Rev Chg LTM5.5%3.4%-1.5%---3.4%
Rev Chg 3Y Avg7.7%6.0%-0.5%---6.0%
Rev Chg Q6.4%2.5%1.1%---2.5%
QoQ Delta Rev Chg LTM1.5%0.6%0.3%---0.6%
Op Mgn LTM11.1%9.5%15.3%---11.1%
Op Mgn 3Y Avg-7.5%8.3%4.9%---4.9%
QoQ Delta Op Mgn LTM1.7%0.4%-0.2%---0.4%
CFO/Rev LTM33.2%-1.0%-8.9%----1.0%
CFO/Rev 3Y Avg30.8%4.8%0.0%---4.8%
FCF/Rev LTM24.7%-2.6%-12.1%----2.6%
FCF/Rev 3Y Avg23.3%3.0%-3.5%---3.0%

Valuation

MGNIMMSUISBAOSEDHLHAOMedian
NameMagnite Maximus Unisys Baosheng.Everbrig.Haoxi He. 
Mkt Cap2.85.00.3---2.8
P/S4.10.90.1---0.9
P/EBIT35.99.64.4---9.6
P/E65.515.7-3.4---15.7
P/CFO12.4-88.5-1.6----1.6
Total Yield1.5%7.8%-29.6%---1.5%
Dividend Yield0.0%1.4%0.0%---0.0%
FCF Yield 3Y Avg6.7%2.6%-20.4%---2.6%
D/E0.20.42.7---0.4
Net D/E0.10.31.6---0.3

Returns

MGNIMMSUISBAOSEDHLHAOMedian
NameMagnite Maximus Unisys Baosheng.Everbrig.Haoxi He. 
1M Rtn-12.6%-0.1%-4.0%-4.2%3.4%-2.4%-3.2%
3M Rtn-15.2%19.9%-11.3%8.4%1.3%-9.6%-4.2%
6M Rtn61.1%30.5%-5.4%80.3%-78.8%-13.5%12.6%
12M Rtn61.9%1.9%-28.5%42.7%--71.3%1.9%
3Y Rtn169.5%59.0%-56.5%-39.2%--9.9%
1M Excs Rtn-13.9%-2.9%-4.6%-4.4%4.2%-7.5%-4.5%
3M Excs Rtn-21.7%14.5%-16.1%0.7%-8.9%-18.5%-12.5%
6M Excs Rtn38.1%7.6%-28.3%57.4%-101.8%-36.4%-10.4%
12M Excs Rtn49.1%-13.8%-54.3%37.3%--90.4%-13.8%
3Y Excs Rtn103.9%-22.4%-139.0%-120.1%---71.3%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Provides a platform to all of its customers, buyers and sellers, that automates the purchase and620577468222156
Total620577468222156


Price Behavior

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity13,915,655
Short Interest: % Change Since 9302025-4.9%
Average Daily Volume2,967,791
Days-to-Cover Short Interest4.69
Basic Shares Quantity141,654,000
Short % of Basic Shares9.8%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2025-3.2%1.6%10.5%
5/7/202519.8%33.5%41.6%
2/26/2025-1.8%-14.1%-27.0%
11/7/20240.9%23.5%24.3%
8/7/2024-1.2%-2.9%1.7%
5/8/20243.7%10.1%45.3%
2/28/202414.8%11.0%2.7%
11/8/2023-0.3%7.3%15.1%
...
SUMMARY STATS   
# Positive111415
# Negative13109
Median Positive14.8%10.5%19.7%
Median Negative-3.4%-14.8%-27.0%
Max Positive65.6%94.1%92.0%
Max Negative-35.1%-32.4%-45.1%

SEC Filings

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Report DateFiling DateFiling
6302025806202510-Q 6/30/2025
3312025507202510-Q 3/31/2025
12312024226202510-K 12/31/2024
93020241107202410-Q 9/30/2024
6302024807202410-Q 6/30/2024
3312024508202410-Q 3/31/2024
12312023228202410-K 12/31/2023
93020231108202310-Q 9/30/2023
6302023809202310-Q 6/30/2023
3312023510202310-Q 3/31/2023
12312022222202310-K 12/31/2022
93020221109202210-Q 9/30/2022
6302022809202210-Q 6/30/2022
3312022504202210-Q 3/31/2022
12312021223202210-K 12/31/2021
93020211103202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Buckley Sean PatrickPresident, Revenue9102025Sell25.5620,000511,2007,851,853Form
1Buonasera DavidCHIEF TECHNOLOGY OFFICER9042025Sell25.372,95074,8426,054,018Form
2Saltz AaronCHIEF LEGAL OFFICER8292025Sell26.0712,403323,3465,990,391Form
3Evans Katie SeitzPresident, Operations8292025Sell25.5221,509548,91010,057,151Form
4Yu Diane8272025Sell25.2320,000504,6001,702,546Form