MGNI
Magnite, Inc.
MGNI's fundamentals are strong and it looks cheap: trading at 24x earnings, about a third of its usual 73x. Analysts expect strong earnings growth, though they disagree widely on how much.
NBIS
Nebius Group N.V.
There isn't enough reported data to score NBIS yet.
MGNI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
MGNI's revenue, profitability, cash flow and balance sheet are all currently healthy.
NBIS Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| Unavailable | |
| Healthy |
NBIS's profitability and balance sheet are currently healthy. There isn't enough data to rate its revenue and cash flow.
MGNI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $23.34 | -20% |
| Forward | 22x | $29.34 | — |
| Current | 24x | $29.34 | — |
| Fair | 72x | $86.77 | +196% |
| Expensive | 291x | $349 | +1091% |
Historical ranges are pointers, not guarantees.
MGNI has the edge over NBIS in the historical PE scenario, which offers more potential upside but is not a forecast.
NBIS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 68x | $22.45 | -83% |
| Fair | 114x | $37.67 | -71% |
| Current | 390x | $129 | — |
| Expensive | 666x | $220 | +71% |
Historical ranges are pointers, not guarantees.
NBIS's PE is 390x, but its earnings don't support one, so it isn't a reliable read right now.
MGNI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
MGNI has the edge over NBIS on the outlook, with more favorable earnings expectations.
NBIS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect NBIS's revenue to grow and its profitability to improve, with its earnings holding steady. However, they disagree widely on these estimates.
MGNI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.32 | +10% |
| Q3 2026 | $1.20 | +200% |
| Q2 2026 | $1.10 | +255% |
| Q1 2026 | $1.05 | +377% |
| Q4 2025 | $0.95 | +494% |
| Q3 2025 | $0.40 | +208% |
| Q2 2025 | $0.31 | +$0.35 |
| Q1 2025 | $0.22 | +$0.79 |
| Q4 2024 | $0.16 | +$1.33 |
MGNI has the edge over NBIS in the latest year-over-year earnings comparison.
NBIS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2025 | $0.33 | +$2.61 |
| Q4 2024 | -$2.28 | -456% |
| Q4 2023 | $0.64 | -36% |
| Q4 2022 | $1.00 | +$1.49 |
| Q4 2021 | -$0.49 | -156% |
| Q4 2020 | $0.87 | +89% |
| Q4 2019 | $0.46 | -73% |
| Q4 2018 | $1.71 | +434% |
NBIS has returned to profit: it earned $0.33 per share over the past year, after losing money the year before.
MGNI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $204.2M | +14% |
| Q2 2026 | $192.8M | +11% |
| Q1 2026 | $164.4M | +5.5% |
| Q4 2025 | $205.4M | +5.9% |
| Q3 2025 | $179.5M | +11% |
| Q2 2025 | $173.3M | +6.4% |
| Q1 2025 | $155.8M | +4.3% |
| Q4 2024 | $194M | +3.8% |
MGNI has the edge over NBIS in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | +11 points |
| Q2 2026 | 16% | +3.5 points |
| Q1 2026 | 4.7% | +5.6 points |
| Q4 2025 | 25% | +4.6 points |
| Q3 2025 | 14% | +4.6 points |
| Q2 2025 | 13% | +6.8 points |
| Q1 2025 | -0.9% | +8.4 points |
| Q4 2024 | 21% | +1.9 points |
MGNI's operating margin was 25% last quarter, up 11 points from the same quarter a year ago, near the top of its range since 2019.
NBIS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2023 | $9.7B | +53% |
| Q4 2022 | $6.3B | +46% |
| Q4 2021 | $4.3B | +63% |
| Q4 2020 | $2.6B | +24% |
| Q4 2019 | $2.1B | +37% |
| Q4 2018 | $1.5B | +36% |
| Q4 2017 | $1.1B | +24% |
| Q4 2016 | $917M | +27% |
NBIS's revenue is growing: $530M last quarter, down 80% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2025 | -115% | -112 points |
| Q4 2023 | 3.6% | -11 points |
| Q4 2022 | 2.5% | -14 points |
| Q4 2021 | -3.7% | -18 points |
| Q4 2020 | 7.4% | -9.5 points |
| Q4 2019 | 14% | -2 points |
| Q4 2018 | 16% | -14 points |
| Q4 2017 | 14% | -19 points |
NBIS's operating margin was −115% last quarter, down 123 points from the same quarter a year ago, near the bottom of its range since 2011.
MGNI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $93M | +36% |
| Q2 2026 | $174.5M | +2801% |
| Q1 2026 | -$130.2M | -$118.4M |
| Q4 2025 | $103.1M | -7.1% |
| Q3 2025 | $68.4M | -12% |
| Q2 2025 | $6M | -93% |
| Q1 2025 | -$11.8M | +$54.5M |
| Q4 2024 | $111M | +40% |
MGNI generated $240M in free cash flow over the past year, up 38% from the year before.
NBIS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | -$3.7B | -$3.1B |
| Q4 2024 | -$562.1M | -$316.2M |
| Q4 2023 | -$245.9M | -$138.9M |
| Q4 2022 | -$107M | +$319.7M |
| Q4 2021 | -$426.7M | -539% |
| Q4 2020 | $97.3M | -66% |
| Q4 2019 | $287.9M | +$289.2M |
| Q4 2018 | -$1.3M | -101% |
NBIS has burned cash in six of the last eight quarters: −$4.6B over the past year, against −$43M the year before.
MGNI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.5% | +3.6M shares |
| 1 year | -1.5% | -2.4M shares |
| 3 years | +9.8% | +13.4M shares |
| 5 years | +15% | +19.3M shares |
| Available history | +153% | +91.2M shares |
MGNI has 151M diluted shares, down 1.5% from a year ago, with $79M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $20M |
| Q2 2026 | $21.1M |
| Q1 2026 | $14.5M |
| Q4 2025 | $23.4M |
| Q3 2025 | — |
| Q2 2025 | $3.7M |
| Q1 2025 | $19.2M |
| Q4 2024 | $5.6M |
MGNI spent $79M buying back its own shares over the past year, up 178% from the year before.
NBIS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -12% | -33.3M shares |
| 1 year | -32% | -115M shares |
| 3 years | -26% | -86.9M shares |
NBIS has the edge over MGNI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2024 | $10M |
| Q4 2021 | $84.1M |
| Q4 2020 | $122.8M |
| Q4 2019 | $17.2M |
| Q4 2018 | $121.8M |
| Q4 2014 | $101.7M |
| Q4 2013 | $102.9M |
MGNI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.0x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 1.0x | Very low |
| Q1 2025 | 1.0x | Healthy |
| Q4 2024 | 0.6x | Very low |
MGNI has more cash than debt.
NBIS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | 0.7x | Very low |
| Q4 2022 | -0.7x | Net Cash |
NBIS's net debt is less than a year of its operating earnings (EBITDA).
MGNI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.6 | Neutral |
| Stochastic | 73.9 | Neutral |
MGNI's weekly RSI is 70 (neutral) and its Stochastic is 74 (neutral).
NBIS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.0 | Neutral |
| Stochastic | 8.3 | Oversold |
NBIS's weekly RSI is 38 (neutral) and its Stochastic is 8 (oversold).
MGNI PE vs Communication Services Sector
| Metric | MGNI | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 16x | 48% above |
| PE % | 28 | 26 | 2 pts above |
MGNI has the edge over NBIS on valuation relative to its sector.
NBIS PE vs Communication Services Sector
| Metric | NBIS | Sector median | Relative |
|---|---|---|---|
| PE | 390x | 16x | 2,264% above |
| PE % | 62 | 24 | 38 pts above |
NBIS is trading at 390x earnings, a 2264% premium to the Communication Services sector's median of 16x, though its earnings don't support one.
MGNI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $24.8 | 18% above |
| 20 week MA | $23.3 | 26% above |
| 50 week MA | $17.8 | 65% above |
| 100 week MA | $17.9 | 64% above |
| 200 week MA | $14.5 | 102% above |
MGNI has stronger trend alignment. MGNI is above 5 of 5 weekly averages versus NBIS above 1 of 4.
NBIS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $179.7 | 28% below |
| 20 week MA | $199.9 | 36% below |
| 50 week MA | $163.5 | 21% below |
| 100 week MA | $110.0 | 17% above |
NBIS has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 17% above its 100-week average.
MGNI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $8.38 | $32.5 | +288% |
| 2021 | $32.5 | $18.8 | -42% |
| 2022 | $18.8 | $10.7 | -43% |
| 2023 | $10.7 | $9.34 | -13% |
| 2024 | $9.34 | $16.4 | +75% |
| 2025 | $16.4 | $16.5 | +0.5% |
| 2026 YTD | $16.5 | $29.3 | +78% |
MGNI has the edge over NBIS on returns for 2026, with the stronger performance.
NBIS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $19.6 | $27.3 | +40% |
| 2025 | $27.3 | $87.6 | +221% |
| 2026 YTD | $87.6 | $128.6 | +47% |
NBIS has finished every year since 2024 higher, and it's up 47% so far in 2026.