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Magnite, Inc., ("we," or "us"), provides technology solutions to automate the purchase and sale of digital advertising inventory. We believe that we are the world's largest independent omni-channel sell-side advertising platform ("SSP"), offering a single partner for transacting globally across all channels, formats and auction types, and the largest independent programmatic CTV marketplace, ma…
13.67% operating margin is respectable but not wide. ROIC at 5.27%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 6.9%, steady but not accelerating. Free cash flow declined 18% despite revenue growth, conversion is weakening.
Free cash flow declined 18% versus the prior year, cash generation momentum has weakened.
Profitability & Returns
Revenue (TTM)
$723M
▲ +6.9% YoY
Net Income (TTM)
$159M
▲ +534.7% YoY
Op. Margin
14.76%
▲ +6.0pp YoY
ROIC
5.90%
▲ +1.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$47M
▼ -18.2% YoY
Op. Cash Flow (TTM)
$113M
▲ +0.4% YoY
Net Debt
$245M
Cash & Equiv.
$185M
5Y CAGR: +26.4%
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