MAGNITE, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MAGNITE, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	278	156	125	156	222	468	577	620	668	714
Cost of revenue	73.2	56.8	60	57.4	77.7	202	307	410	259	267
Gross profit	205	98.7	64.7	99	144	267	270	210	409	447
Research and development	51.2	47.5	37.9	40.3	51.5	74.4	93.8	94.3	95.2	84.7
Selling and marketing	83.3	51.8	44.6	44.6	76	170	200	174	166	172
General and administrative	68.6	55.6	42.4	39.8	53	64.8	81.4	89	96.9	93.2
Operating income	-24.9	-157	-63.6	-27.6	-54.2	-81.1	-113	-155	51.1	97.6
Interest expense							29.3	32.4	27	18.9
Interest income							2.92	11.1	13.4	12.7
Other non-operating income	1.98	0.43	2.14	0.59	1.5	-13.9	-22.8	-2.54	-24.6	-27
Pre-tax income	-22.9	-157	-61.5	-27	-52.7	-95	-136	-158	26.5	70.6
Income tax	-4.86	-1.76	0.36	-1.51	0.69	-95.1	-5.27	1.64	3.7	-74
Net income	-18.1	-155	-61.8	-25.5	-53.4	0.07	-130	-159	22.8	145
EBITDA	17.9	-121	-28.3	4.54	-4.99	65.8	103	85.8	110	151
EPS, basic	-0.39	-3.17	-1.23	-0.48	-0.55	0.00	-0.98	-1.17	0.16	1.01
EPS, diluted	-0.39	-3.17	-1.23	-0.48	-0.55	0.00	-0.98	-1.17	0.16	0.95
Shares, basic (weighted)	46.7	48.9	50.6	52.6	96.7	126	133	137	141	143
Shares, diluted (weighted)	46.7	48.9	50.3	52.6	96.7	136	133	137	147	154

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	149	76.6	80.5	88.9	118	230	326	326	483	553
Receivables	192	166	206	218	472	928	977	1,176	1,200	1,302
Other current assets	9.54	9.62	6.88	6.59	17.7	19.9	23.5	20.5	19.9	26.3
Total current assets	392	305	301	313	607	1,178	1,326	1,523	1,703	1,882
Property, plant and equipment	36.2	47.4	33.5	23.7	23.7	34.1	45	47.4	68.7	109
Lease right-of-use assets				21.5	39.6	77	78.2	60.5	50.3	66.6
Goodwill	65.7	0	0	7.37	158	970	978	978	978	984
Intangible assets	6.8	13.4	10.2	11.4	89.9	427	254	51	21.3	12.4
Long-term investments	0
Other non-current assets	2.92	5.49	1.24	2.1	4.44	6.86	7.38	6.73	6.38	82.5
Total assets	520	384	360	395	939	2,713	2,712	2,689	2,855	3,164
Accounts payable	7.93	3.76	3.12	4.82	4.27	11.9	19.4	23.8	30.9	15
Accrued liabilities	9.71	6.65	6.13	6.73	12.4	16.2	15.1	15.1	17.7	19.5
Short-term debt					0	3.6	3.6	3.6	3.64	208
Total current liabilities	218	217	241	267	522	1,029	1,125	1,402	1,496	1,842
Long-term debt					0	720	723	533	550	348
Lease liabilities				15.2	32.3	66.5	66.3	49.7	39	50.1
Other non-current liabilities	1.78	1.78	1.02	0.45	2.67	2.65	1.72	2.34	1.48	2.54
Total liabilities	220	219	242	283	557	1,832	1,921	1,987	2,087	2,242
Total debt					0	758	755	537	554	556
Paid-in capital	399	418	434	453	777	1,283	1,319	1,388	1,434	1,440
Retained earnings	-99	-254	-316	-341	-395	-394	-525	-684	-661	-517
Treasury stock					0	-6.01	0
Other comprehensive income	-0.27	0.04	-0.26	-0.05	-0.96	-1.38	-3.15	-2.08	-4.42	-1.45
Shareholders' equity	300	165	118	112	382	881	791	702	768	922
Total equity	300	165	118	112	382	881	791	702	768	922
Total liabilities and equity	520	384	360	395	939	2,713	2,712	2,689	2,855	3,164
Shares outstanding	49.4	50.2	51.2	53.9	114	132	134	139	141	143

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-18.1	-155	-61.8	-25.5	-53.4	0.07	-130	-159	22.8	145
Depreciation and amortization	42.8	36.2	35.3	32.1	49.2	147	216	241	58.5	53.7
Stock-based compensation	28.7	20.5	16.3	18.8	28.5	40.7	64.1	72.6	76.5	76.6
Deferred income tax	-6.63	-1.45	-0.05	-1.67	-0.3	-99	-8.88	-2.28	0.06	-78.3
Change in receivables	25.3	26.1	-40.7	-10.7	-104	-254	-46.3	-220	-26	-104
Change in payables	-33	-0.5	26.6	16.3	75.1	285	91.4	295	97.4	143
Cash from operations	60.1	21.5	-22.7	32	-12.1	127	193	214	235	236
Capital expenditures	-23.5	-32.4	-11.4	-11.4	-14.3	-17.7	-30.8	-26.8	-32.8	-70.5
Acquisitions	-0.24	-38.6	0	-11	54.6	-662	-20.8	0	0	-8.1
Purchases of investments			-24	0	0
Sales and maturities of investments	37.4	81.1	62.7	7.5	0	0
Cash from investing	-37.4	-93.2	27.9	-23.4	32.6	-691	-65.2	-37.4	-47.5	-92.8
Debt repaid				0	0	-1.8	-3.6	-3.6
Stock issued	14.2	0.39	0.05	0.59	13.5	9.43	2.23	2.17	0.57	3.06
Share buybacks				0	0	-6.01	-15.7	0	-14.6	-46.3
Cash from financing	10.1	-1.38	-1.28	-0.21	7.35	678	-30.2	-178	-28.9	-75.1
Exchange rate effect	-0.16	0.2	-0.17	0.05	0.92	-0.68	-1.42	0.58	-1.79	1.82
Net change in cash	32.7	-72.9	3.81	8.44	28.8	113	95.8	-0.28	157	70.1
Free cash flow	36.6	-10.9	-34.1	20.6	-26.4	109	162	188	202	166
Interest paid	0.06	0.06	0.05	0.06	0.1	12.9	26.3	37	36.9	28.2
Income taxes paid	1.29	0.38	0.38	0.29	1.61	2.14	4.93	5.36	3.87	3.76

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $23.97 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	64.8%	Gross profit / revenue.
Operating margin	15.6%	Operating income / revenue.
EBITDA margin	21.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.2%	Pre-tax income / revenue.
Net margin	22.5%	Net income / revenue.
FCF margin	29.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	37.9%	Cash from operations / revenue.
Effective tax rate	-69.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	17.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.5%	Net income / average total assets.
Return on invested capital (ROIC)	9.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	12.1%	Research and development expense / revenue.
Stock-based pay / revenue	10.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	8.8%	Capital expenditures / revenue.
D&A / revenue	5.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	26.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	9.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	18.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	25.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	91.0%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	38.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	13.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	534.7%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	493.8%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	0.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	7.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	-18.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	0.8%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	20.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	19.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	10.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	27.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	4.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	9.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.03x	Current assets / current liabilities.
Quick ratio	1.01x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.20x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.37x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	11.6%	Total debt / total assets.
Liabilities / assets	69.1%	Total liabilities / total assets.
Net debt	$17.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.11x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.93x	Operating income / interest expense.
Working capital	$42.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	32.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$54.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.24x	Revenue / average total assets.
Fixed asset turnover	6.39x	Revenue / average property, plant and equipment.
Receivables turnover	0.54x	Revenue / average receivables.
Days sales outstanding	681 days	365 x average receivables / revenue.
Days payables	43 days	365 x average accounts payable / cost of revenue.
FCF conversion	129.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	23.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.13	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$5.04	Revenue / diluted weighted shares.
FCF per share	$1.47	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.91	Cash from operations / diluted weighted shares.
Book value per share	$6.53	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.38	Tangible book value / shares outstanding.
Cash per share	$2.32	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	27.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$3.44B	Share price x shares outstanding.
Enterprise value	$3.46B	Market cap + total debt - cash - short-term investments.
P/E	20.6x	Market cap / net income. Only when net income is positive.
P/S	4.63x	Market cap / revenue.
P/B	3.67x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	15.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	12.2x	Market cap / cash from operations, when positive.
EV/Sales	4.66x	Enterprise value / revenue.
EV/EBIT	29.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	21.7x	Enterprise value / EBITDA, when both are positive.
EV/FCF	16.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.3%	Free cash flow / market cap.
Earnings yield	4.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.7%	(Dividends paid + share buybacks) / market cap.

What was MAGNITE, INC.'s revenue in fiscal 2025?

MAGNITE, INC. reported revenue of $714.0M for fiscal 2025, 6.9% higher than the year before.

Was MAGNITE, INC. profitable in fiscal 2025?

Yes. Net income was $144.6M, a net margin of 20.3%.

How much free cash flow did MAGNITE, INC. generate in fiscal 2025?

Cash from operations of $236.2M minus capital expenditures of $70.5M left free cash flow of $165.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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