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Side-by-side financial comparison of Empire State Realty Trust, Inc. (ESRT) 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 $190.3M, roughly 1.6× Empire State Realty Trust, Inc.). MediaAlpha, Inc. runs the higher net margin — 4.5% vs 1.6%, a 3.0% gap on every dollar of revenue. On growth, MediaAlpha, Inc. posted the faster year-over-year revenue change (17.3% vs 5.7%). Over the past eight quarters, MediaAlpha, Inc.'s revenue compounded faster (31.9% CAGR vs 0.2%).

Empire State Realty Trust is a leading real estate investment trust that owns, manages, and operates a portfolio of premium commercial, residential, and retail properties primarily in the New York City metropolitan area, including the iconic Empire State Building. It serves corporate tenants, retail partners, and residential occupants, focusing on sustainable property operations and long-term asset value growth.

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.

ESRT vs MAX — Head-to-Head

Bigger by revenue
MAX
MAX
1.6× larger
MAX
$310.0M
$190.3M
ESRT
Growing faster (revenue YoY)
MAX
MAX
+11.6% gap
MAX
17.3%
5.7%
ESRT
Higher net margin
MAX
MAX
3.0% more per $
MAX
4.5%
1.6%
ESRT
Faster 2-yr revenue CAGR
MAX
MAX
Annualised
MAX
31.9%
0.2%
ESRT

Income Statement — Q1 FY2026 vs Q1 FY2026

Metric
ESRT
ESRT
MAX
MAX
Revenue
$190.3M
$310.0M
Net Profit
$3.0M
$14.0M
Gross Margin
15.1%
Operating Margin
15.5%
7.2%
Net Margin
1.6%
4.5%
Revenue YoY
5.7%
17.3%
Net Profit YoY
-73.7%
701.8%
EPS (diluted)
$0.20

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
ESRT
ESRT
MAX
MAX
Q1 26
$190.3M
$310.0M
Q4 25
$199.2M
$291.2M
Q3 25
$197.7M
$306.5M
Q2 25
$191.3M
$251.6M
Q1 25
$180.1M
$264.3M
Q4 24
$197.6M
$300.6M
Q3 24
$199.6M
$259.1M
Q2 24
$189.5M
$178.3M
Net Profit
ESRT
ESRT
MAX
MAX
Q1 26
$3.0M
$14.0M
Q4 25
$32.2M
$31.4M
Q3 25
$13.6M
$14.9M
Q2 25
$11.4M
$-18.7M
Q1 25
$15.8M
$-1.9M
Q4 24
$18.8M
$4.6M
Q3 24
$22.8M
$9.5M
Q2 24
$28.6M
$3.6M
Gross Margin
ESRT
ESRT
MAX
MAX
Q1 26
15.1%
Q4 25
15.4%
Q3 25
14.2%
Q2 25
15.0%
Q1 25
15.8%
Q4 24
16.3%
Q3 24
15.1%
Q2 24
17.8%
Operating Margin
ESRT
ESRT
MAX
MAX
Q1 26
15.5%
7.2%
Q4 25
17.8%
7.7%
Q3 25
19.9%
6.4%
Q2 25
18.4%
-8.0%
Q1 25
14.3%
0.0%
Q4 24
21.7%
6.1%
Q3 24
22.7%
6.0%
Q2 24
20.8%
3.6%
Net Margin
ESRT
ESRT
MAX
MAX
Q1 26
1.6%
4.5%
Q4 25
16.1%
10.8%
Q3 25
6.9%
4.9%
Q2 25
6.0%
-7.4%
Q1 25
8.8%
-0.7%
Q4 24
9.5%
1.5%
Q3 24
11.4%
3.7%
Q2 24
15.1%
2.0%
EPS (diluted)
ESRT
ESRT
MAX
MAX
Q1 26
$0.20
Q4 25
$0.11
$0.50
Q3 25
$0.05
$0.26
Q2 25
$0.04
$-0.33
Q1 25
$0.05
$-0.04
Q4 24
$0.07
$0.09
Q3 24
$0.08
$0.17
Q2 24
$0.10
$0.07

Balance Sheet & Financial Strength

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

Metric
ESRT
ESRT
MAX
MAX
Cash + ST InvestmentsLiquidity on hand
$68.8M
$26.1M
Total DebtLower is stronger
$163.5M
Stockholders' EquityBook value
$1.8B
Total Assets
$4.4B
$367.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ESRT
ESRT
MAX
MAX
Q1 26
$68.8M
$26.1M
Q4 25
$132.7M
$46.9M
Q3 25
$154.1M
$38.8M
Q2 25
$94.6M
$85.4M
Q1 25
$187.8M
$63.6M
Q4 24
$385.5M
$43.3M
Q3 24
$421.9M
$32.3M
Q2 24
$535.5M
$28.7M
Total Debt
ESRT
ESRT
MAX
MAX
Q1 26
$163.5M
Q4 25
$153.4M
Q3 25
$155.7M
Q2 25
$158.0M
Q1 25
$160.2M
Q4 24
$162.4M
Q3 24
$164.7M
Q2 24
$166.9M
Stockholders' Equity
ESRT
ESRT
MAX
MAX
Q1 26
$1.8B
Q4 25
$1.1B
$4.2M
Q3 25
$1.0B
$-29.8M
Q2 25
$1.0B
$-3.8M
Q1 25
$1.0B
$7.9M
Q4 24
$1.0B
$2.4M
Q3 24
$1.0B
$-8.4M
Q2 24
$1.0B
$-24.4M
Total Assets
ESRT
ESRT
MAX
MAX
Q1 26
$4.4B
$367.7M
Q4 25
$4.5B
$383.8M
Q3 25
$4.1B
$266.2M
Q2 25
$4.1B
$249.4M
Q1 25
$4.1B
$240.0M
Q4 24
$4.5B
$262.4M
Q3 24
$4.4B
$236.1M
Q2 24
$4.4B
$198.2M
Debt / Equity
ESRT
ESRT
MAX
MAX
Q1 26
Q4 25
36.88×
Q3 25
Q2 25
Q1 25
20.23×
Q4 24
68.31×
Q3 24
Q2 24

Financial Flow Comparison

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

Revenue Breakdown by Segment

ESRT
ESRT

Rental revenue (1)$166.1M87%
Observatory revenue$18.5M10%
Other revenue and fees$4.1M2%
Lease termination fees$1.4M1%
Third-party management and other fees$277.0K0%

MAX
MAX

Segment breakdown not available.

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