Magnite Inc (MGNI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Magnite Inc $27.28, price $24.06, upside +13.4%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $5.78 – $36.93 · fair‑value band $16.89 – $42.41 · the $24.06 price screens below the $27.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Magnite, Inc., together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally.
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Magnite, Inc., together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company's platform offers applications and services for sellers of digital advertising inventory, or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that brings buyers and sellers together. It markets its solutions through sales teams that operate from various locations. Magnite, Inc. was formerly known as The Rubicon Project, Inc. and changed name to Magnite, Inc. in July 2020. The company was incorporated in 2007 and is headquartered in New York, New York.
Stock analysis
Magnite Inc (MGNI) currently trades at $24.06, while our model-based Fair Value estimate is $27.28, implying the stock looks roughly 11.8% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $26.72 per share, and 8 of the 24 models we run sit above the $24.06 price.
Bear case: the Asset-Based group reads lowest at $4.32, and 16 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: $16.89 (bear) to $42.41 (bull), the price of $24.06 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Magnite Inc reported revenue of $714M in FY2025 versus $468M in FY2021, a compound +11.1%/yr. Reported net income was $145M in FY2025, compounding +586.8%/yr from FY2021.
Key figures
Market cap $3.7B · P/E ratio 22.9 · P/S ratio 4.64 · EPS (TTM) $1.05 · Net margin 20.3% · Return on equity 19.1% · Return on assets (EBIT) −1.6% · Operating margin 4.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 115% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 20% fair-value upside, at 13%, MGNI screens richer than that median.
Fair Value models
Bear $16.89Fair Value $27.28Bull $42.41
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.7681 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+26.4%
Start year 2020 (pandemic). Over 10 years: +11.1% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.5%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−24.5% (2020) → 13.7% (2025)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+17.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +14.8% a year for the price and +4.8% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Advertising Agencies · 195 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+13% · Above median
Profitability
Return on equity (TTM)19% · Top 25%
Return on assets2% · Above median
Net margin (TTM)22% · Top 25%
Operating margin (TTM)5% · Above median
Growth and dividend
Revenue growth6% · Above median
Balance sheet
Debt / equity0.38× · Above median
Valuation Multiplesvs Advertising Agencies median · lower = cheaper
P/E (TTM)22.9× · Pricier than median
P/B4.01× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Magnite Inc Fair Value". https://www.fairvalue-calculator.com/stock/MGNI
Frequently asked questions
Is Magnite Inc (MGNI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $27.28 versus a price of $24.06, about +13% upside (undervalued).
What is the fair value of MGNI?
Our model-based fair value for Magnite Inc is $27.28 (as of Sep 24, 2026), built from audited fundamentals. The current price: $24.06.
What is the quality score of MGNI?
Magnite Inc has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Magnite Inc (MGNI)?
Our model-based price target is the fair value of $27.28 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $16.89, optimistic scenario $42.41. It is a calculation from audited fundamentals, not an analyst target.
What is the Magnite Inc stock forecast for 2026?
Our models put fair value at $27.28, about +13% upside versus a price of $24.06 (undervalued). Cautious scenario $16.89, optimistic scenario $42.41. The calculation is refreshed regularly with new filings.
What is the revenue of Magnite Inc (MGNI)?
Magnite Inc reported trailing-twelve-month revenue of about $723M (latest available figure, as of Sep 24, 2026).
What growth is priced into Magnite Inc (MGNI)?
For today's price to be fair in a discounted-cash-flow model, Magnite Inc would have to grow free cash flow by +17.6 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +26.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of MGNI use?
Our models discount Magnite Inc at 12.2 %: a base by market capitalisation (mid), damped by beta 2.31, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Magnite Inc that is +17.6 % per year a year over ten years, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has Magnite Inc (MGNI) delivered so far?
Over the past 5 years revenue at Magnite Inc grew +26.4 % a year. The price currently implies +17.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Magnite Inc (MGNI) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Magnite Inc (+17.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Magnite Inc (MGNI)?
The free-cash-flow yield on the price is 4.48 %: that much free cash flow Magnite Inc produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Magnite Inc (MGNI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Magnite Inc it is $27.28 per share (as of Sep 24, 2026), against a price of $24.06. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Magnite Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MGNI trades below its calculated fair value: price $24.06, fair value $27.28, a gap of about +13% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MGNI?
No. The price is what the market pays today ($24.06); the fair value is what the company's own numbers justify ($27.28). For Magnite Inc the two are $3.22 per share apart. That gap is exactly why we show both numbers side by side.
How much is Magnite Inc worth?
The market values Magnite Inc at about $3.7B (market capitalisation, as of Sep 24, 2026). Per share that is $24.06; our models calculate a fair value of $27.28 per share.
What do the bullish and bearish scenarios say about MGNI?
Our models span a range for Magnite Inc: cautious scenario $16.89, base $27.28, optimistic $42.41 per share (as of Sep 24, 2026, price $24.06). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MGNI?
Magnite Inc trades at a price-to-earnings ratio of 22.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $27.28 is built from several models across several years. Other multiples: PEG 0.1, P/B 4.0, P/S 5.1, EV/EBITDA 24.0.
What is the PEG ratio of MGNI?
The PEG ratio of Magnite Inc is 0.09 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Magnite Inc (MGNI)?
Balance-sheet figures for Magnite Inc (as of Sep 24, 2026): return on equity 19.1%, debt of 0.38 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is MGNI from its 52-week high?
Magnite Inc trades at $24.06, about 6% below its 52-week high of $25.63 and 115% above the low of $11.20 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $27.28 is for.
Which stocks are comparable to Magnite Inc?
From the same area (Communication Services) we also value AppLovin Corporation, Publicis Groupe S.A, Omnicom Group, Focus Media Information Technology Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Magnite Inc stock attractive at the current price?
The data as of Sep 24, 2026: price $24.06, calculated fair value $27.28 (+13%), Quality Score 54/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MGNI calculated?
We run Magnite Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $27.28, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Magnite Inc currently trades 13 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Magnite Inc (MGNI)?
The closing price on Sep 23, 2026 was $24.06. Our model-based fair value is $27.28, about +13% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Magnite Inc right now?
A fairly wide model range ($16.89 to $42.41) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Magnite Inc
How large is the market capitalisation of Magnite Inc (MGNI)?
The market capitalisation of Magnite Inc is $3.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Magnite Inc (MGNI)?
The price-to-sales ratio of Magnite Inc is 4.64 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Magnite Inc (MGNI)?
Earnings per share at Magnite Inc are $1.05 (price ÷ EPS = P/E 22.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Magnite Inc (MGNI)?
The net margin of Magnite Inc is 20.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Magnite Inc (MGNI)?
The return on equity (ROE) of Magnite Inc is 19.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Magnite Inc (MGNI)?
On an EBIT basis the return on assets of Magnite Inc is −1.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Magnite Inc (MGNI)?
The operating margin of Magnite Inc is 4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Magnite Inc (MGNI)?
Revenue at Magnite Inc is growing +5.5% versus a year earlier (3y avg +7.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Magnite Inc (MGNI)?
Earnings per share at Magnite Inc are growing +230% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Magnite Inc (MGNI) carry?
The net debt of Magnite Inc is $73.0M (fiscal year 2025, ≈ 0.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Sep 24, 2026