Magnite vs PubMatic
Magnite reported revenue of $714 million in fiscal 2025, 2.5 times PubMatic's $283 million in fiscal 2025. Magnite's revenue grew 6.8% in its latest year, and PubMatic's fell 2.9%. Magnite had an operating margin of 13.7%, against -6.1% at PubMatic. Free cash flow was $166 million at Magnite and $67 million at PubMatic.
Side by side
| Magnite | PubMatic | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $714M | $283M |
| Revenue growth | 6.8% | −2.9% |
| Revenue growth a year, last 5 years | 26.4% | 13.7% |
| Gross margin | 62.7% | 63.6% |
| Operating margin | 13.7% | −6.1% |
| Net margin | 20.3% | −5.1% |
| Free cash flow | $166M | $67M |
| Free cash flow margin | 23.2% | 23.6% |
| Return on capital | 11.1% | — |
| Net debt to EBITDA | 0.0x | — |
| Dividends and buybacks | $46M | $46M |
| Change in diluted share count | 4.7% | −13.4% |
| Last close | $27.39 | $17.81 |
| P/E at the last close | 22.8× | — |
| Insider trades, last 12 months | — | — |
| Piotroski F-score | 7 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
MagnitePubMatic
Operating margin
Percent of revenue
MagnitePubMatic
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
MagnitePubMatic