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Side-by-side financial comparison of Alto Ingredients, Inc. (ALTO) and MediaAlpha, Inc. (MAX). Click either name above to swap in a different company.

MediaAlpha, Inc. is the larger business by last-quarter revenue ($310.0M vs $232.0M, roughly 1.3× Alto Ingredients, Inc.). Alto Ingredients, Inc. runs the higher net margin — 9.4% vs 4.5%, a 4.9% gap on every dollar of revenue. On growth, MediaAlpha, Inc. posted the faster year-over-year revenue change (17.3% vs -1.9%). Over the past eight quarters, MediaAlpha, Inc.'s revenue compounded faster (31.9% CAGR vs -1.8%).

Palo Alto Networks, Inc. is an American multinational cybersecurity company with headquarters in Santa Clara, California. The core product is a platform that includes advanced firewalls and cloud-based offerings that extend those firewalls to cover other aspects of security. The company serves over 70,000 organizations in over 150 countries, including 85 of the Fortune 100. It is home to the Unit 42 threat research team and hosts the Ignite cybersecurity conference. It is a partner organizati...

Alpha Group Co., Ltd. is a Chinese multinational conglomerate with animation, toy, mass media asset and entertainment company headquartered created by Cai Dongqing in 1993. In 2016, it changed its name from Alpha Animation. The company has a Chinese webcomics site, U17, and also an American film company, Alpha Pictures, and has announced the creation of an animation division also based in the United States.

ALTO vs MAX — Head-to-Head

Bigger by revenue
MAX
MAX
1.3× larger
MAX
$310.0M
$232.0M
ALTO
Growing faster (revenue YoY)
MAX
MAX
+19.1% gap
MAX
17.3%
-1.9%
ALTO
Higher net margin
ALTO
ALTO
4.9% more per $
ALTO
9.4%
4.5%
MAX
Faster 2-yr revenue CAGR
MAX
MAX
Annualised
MAX
31.9%
-1.8%
ALTO

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
ALTO
ALTO
MAX
MAX
Revenue
$232.0M
$310.0M
Net Profit
$21.8M
$14.0M
Gross Margin
6.5%
15.1%
Operating Margin
3.2%
7.2%
Net Margin
9.4%
4.5%
Revenue YoY
-1.9%
17.3%
Net Profit YoY
152.3%
701.8%
EPS (diluted)
$0.28

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ALTO
ALTO
MAX
MAX
Q1 26
$310.0M
Q4 25
$232.0M
$291.2M
Q3 25
$241.0M
$306.5M
Q2 25
$218.4M
$251.6M
Q1 25
$226.5M
$264.3M
Q4 24
$236.3M
$300.6M
Q3 24
$251.8M
$259.1M
Q2 24
$236.5M
$178.3M
Net Profit
ALTO
ALTO
MAX
MAX
Q1 26
$14.0M
Q4 25
$21.8M
$31.4M
Q3 25
$14.2M
$14.9M
Q2 25
$-11.0M
$-18.7M
Q1 25
$-11.7M
$-1.9M
Q4 24
$-41.7M
$4.6M
Q3 24
$-2.4M
$9.5M
Q2 24
$-3.1M
$3.6M
Gross Margin
ALTO
ALTO
MAX
MAX
Q1 26
15.1%
Q4 25
6.5%
15.4%
Q3 25
9.7%
14.2%
Q2 25
-0.9%
15.0%
Q1 25
-0.8%
15.8%
Q4 24
-0.6%
16.3%
Q3 24
2.4%
15.1%
Q2 24
3.2%
17.8%
Operating Margin
ALTO
ALTO
MAX
MAX
Q1 26
7.2%
Q4 25
3.2%
7.7%
Q3 25
7.0%
6.4%
Q2 25
-3.7%
-8.0%
Q1 25
-4.0%
0.0%
Q4 24
-16.6%
6.1%
Q3 24
-0.3%
6.0%
Q2 24
-0.6%
3.6%
Net Margin
ALTO
ALTO
MAX
MAX
Q1 26
4.5%
Q4 25
9.4%
10.8%
Q3 25
5.9%
4.9%
Q2 25
-5.0%
-7.4%
Q1 25
-5.2%
-0.7%
Q4 24
-17.6%
1.5%
Q3 24
-1.0%
3.7%
Q2 24
-1.3%
2.0%
EPS (diluted)
ALTO
ALTO
MAX
MAX
Q1 26
Q4 25
$0.28
$0.50
Q3 25
$0.19
$0.26
Q2 25
$-0.15
$-0.33
Q1 25
$-0.16
$-0.04
Q4 24
$-0.56
$0.09
Q3 24
$-0.04
$0.17
Q2 24
$-0.05
$0.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ALTO
ALTO
MAX
MAX
Cash + ST InvestmentsLiquidity on hand
$23.4M
$26.1M
Total DebtLower is stronger
$84.6M
$163.5M
Stockholders' EquityBook value
$245.2M
Total Assets
$388.8M
$367.7M
Debt / EquityLower = less leverage
0.34×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ALTO
ALTO
MAX
MAX
Q1 26
$26.1M
Q4 25
$23.4M
$46.9M
Q3 25
$32.5M
$38.8M
Q2 25
$29.8M
$85.4M
Q1 25
$26.8M
$63.6M
Q4 24
$35.5M
$43.3M
Q3 24
$33.6M
$32.3M
Q2 24
$27.1M
$28.7M
Total Debt
ALTO
ALTO
MAX
MAX
Q1 26
$163.5M
Q4 25
$84.6M
$153.4M
Q3 25
$106.0M
$155.7M
Q2 25
$124.2M
$158.0M
Q1 25
$117.0M
$160.2M
Q4 24
$99.7M
$162.4M
Q3 24
$90.6M
$164.7M
Q2 24
$98.6M
$166.9M
Stockholders' Equity
ALTO
ALTO
MAX
MAX
Q1 26
Q4 25
$245.2M
$4.2M
Q3 25
$222.4M
$-29.8M
Q2 25
$207.8M
$-3.8M
Q1 25
$213.9M
$7.9M
Q4 24
$225.1M
$2.4M
Q3 24
$263.9M
$-8.4M
Q2 24
$265.8M
$-24.4M
Total Assets
ALTO
ALTO
MAX
MAX
Q1 26
$367.7M
Q4 25
$388.8M
$383.8M
Q3 25
$388.5M
$266.2M
Q2 25
$393.1M
$249.4M
Q1 25
$402.2M
$240.0M
Q4 24
$401.4M
$262.4M
Q3 24
$417.4M
$236.1M
Q2 24
$432.5M
$198.2M
Debt / Equity
ALTO
ALTO
MAX
MAX
Q1 26
Q4 25
0.34×
36.88×
Q3 25
0.48×
Q2 25
0.60×
Q1 25
0.55×
20.23×
Q4 24
0.44×
68.31×
Q3 24
0.34×
Q2 24
0.37×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ALTO
ALTO
MAX
MAX
Operating Cash FlowLast quarter
$9.5M
Free Cash FlowOCF − Capex
$7.6M
FCF MarginFCF / Revenue
3.3%
Capex IntensityCapex / Revenue
0.8%
Cash ConversionOCF / Net Profit
0.44×
TTM Free Cash FlowTrailing 4 quarters
$8.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ALTO
ALTO
MAX
MAX
Q1 26
Q4 25
$9.5M
$-7.4M
Q3 25
$22.8M
$23.6M
Q2 25
$-848.0K
$25.7M
Q1 25
$-18.2M
$23.7M
Q4 24
$-9.8M
$14.5M
Q3 24
$18.6M
$8.1M
Q2 24
$-13.7M
$21.6M
Free Cash Flow
ALTO
ALTO
MAX
MAX
Q1 26
Q4 25
$7.6M
$-7.5M
Q3 25
$21.2M
$23.6M
Q2 25
$-1.3M
$25.5M
Q1 25
$-18.8M
$23.6M
Q4 24
$-11.1M
$14.5M
Q3 24
$18.1M
$8.0M
Q2 24
$-18.4M
$21.5M
FCF Margin
ALTO
ALTO
MAX
MAX
Q1 26
Q4 25
3.3%
-2.6%
Q3 25
8.8%
7.7%
Q2 25
-0.6%
10.2%
Q1 25
-8.3%
8.9%
Q4 24
-4.7%
4.8%
Q3 24
7.2%
3.1%
Q2 24
-7.8%
12.0%
Capex Intensity
ALTO
ALTO
MAX
MAX
Q1 26
Q4 25
0.8%
0.0%
Q3 25
0.7%
0.0%
Q2 25
0.2%
0.1%
Q1 25
0.2%
0.0%
Q4 24
0.5%
0.0%
Q3 24
0.2%
0.0%
Q2 24
2.0%
0.1%
Cash Conversion
ALTO
ALTO
MAX
MAX
Q1 26
Q4 25
0.44×
-0.24×
Q3 25
1.60×
1.58×
Q2 25
Q1 25
Q4 24
3.13×
Q3 24
0.85×
Q2 24
5.97×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

ALTO
ALTO

Pekin Campus Production$105.1M45%
Total Marketing And Distribution Sales$57.9M25%
Marketing And Distributions$55.6M24%
Other$11.2M5%
Kodiak Carbonic LLC$2.1M1%

MAX
MAX

Segment breakdown not available.

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