Independent equity research
Is Magnite, Inc. (MGNI) a Buy, Hold or Sell?
Magnite, Inc. — our independent, AI-built valuation and rating, in brief.
SELL (reduce into strength)
12-mo fair value
$15.00
To fair value
−37%
By · report dated 2026-08-21 · fair value derived independently of the market price.
The thesis, in brief
Charge the $80m a year of stock compensation and FY2026E owner free cash flow is $110m, not the $222m Magnite reports: at 22.0x trailing GAAP EBITDA against a 15.15x peer median, even our bull case of $20.47 sits below the $23.35 price. A near-term Google remedy order falsifies it
How we value it
We value Magnite, Inc. using Discounted owner free cash flow at a 12.08% WACC, three scenarios probability-weighted, 60/40 with peer EV/EBITDA. The 12-month fair value is set from that intrinsic estimate first, then compared to the market to read the upside or downside — never anchored to the current price.
What the full report covers
- Business & moat + industry cycle
- Earnings quality & normalized EPS
- Returns on capital (ROIC vs WACC)
- Balance-sheet safety
- Two independent valuations (DCF + multiples)
- Bear / base / bull fair values
- Earnings-call analysis
- Insider activity & positioning
- Technicals (RSI / ADX)
- A falsifiable thesis
Read the full Magnite, Inc. report
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