NMAX
Newsmax, Inc.Communication Services·Broadcasting
$8.51
$765M market cap
Revenue
$103.9M
Free Cash Flow
$-21.1M
Rev Growth
+0.0%
FCF Margin
-20.3%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Newsmax Inc., through its subsidiaries, operates as television broadcaster and multi-platform content publisher. It operates in two segments broadcasting and digital. The company produces and licenses news, business news, and lifestyle content comprising Newsmax and Newsmax2 that offers 24/7 television news and informational programming channel. It also provides online advertising, including online display, email advertising, other online placements, print advertisements, subscriptions, includin
2-Year Price History
$7.56-83.2%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 51.7 | -3.0 | -4.5 | -2.2 | -22.6 | -22.9 | -0.2 | 17,198,760 | 8,324,703 | 128.5 | 0.0% | -998.5x | -- |
| Act | 2025-Q4 | 52.2 | -1.3 | -4.7 | -3.0 | 2.6 | 1.8 | -0.9 | 20,433,021 | 9,355,066 | 129.1 | 0.0% | -315.4x | -- |
Valuation & Metrics
Market Stats
Price$8.51
Market Cap$765M
Enterprise Value$-8.9T
P/S Ratio7.4x
P/FCF--
EV/FCF--
FCF Margin (TTM)-20.3%
FCF Yield-2.8%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$103.9M
Net Income$-5.2M
Free Cash Flow$-21.1M
Revenue Growth (YoY)+0.0%
EBITDA Margin-4.1%
Net Margin-5.0%
FCF Margin-20.3%
CapEx % of Revenue1.1%
SBC % of Revenue0.0%
ROIC0.0%
WC Change % Rev-21172763.2%
Interest Coverage-597.2x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares6.9M
Days to Cover1.5
Change (vs Prior)-6.5%
Need at least 2 settlement dates for chart
Employees
Headcount400
Revenue / Employee$259,748
Gross Profit / Employee$101,799
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
21.9%(+20.7% YoY)
206 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
3.4%(+3.4% YoY)
6 filers
Vanguard, iShares, SPDR
Market makers
0.2%(+0.2% YoY)
5 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Greenwich Wealth Management LLC | $119M | $7.73 | +$0 | +$119M | +0.5% | $2.44B |
| BlackRock, Inc.Passive | $13.2M | $9.06 | +$435K | +$13.2M | -0.2% | $5.69T |
| GOLDMAN SACHS GROUP INC | $5.2M | $6.56 | +$2.8M | +$5.2M | -0.2% | $760.93B |
| STATE STREET CORPPassive | $3.5M | $8.46 | +$261K | +$3.5M | -0.2% | $2.89T |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $3.1M | $9.18 | +$65K | +$3.1M | +2.3% | $1.61T |
| AQR CAPITAL MANAGEMENT LLC | $2.3M | $5.22 | +$2.3M | +$2.3M | -0.2% | $218.19B |
| BNP PARIBAS FINANCIAL MARKETS | $1.6M | $7.18 | +$1.5M | +$1.6M | -0.2% | $149.31B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $1.4M | $5.22 | +$1.4M | +$1.4M | — | $1.91T |
| LPL Financial LLC | $1.3M | $10.37 | +$776K | +$1.3M | -0.2% | $372.65B |
| NORTHERN TRUST CORPPassive | $1.3M | $10.36 | −$88K | +$1.3M | -0.2% | $755.34B |
| CITADEL ADVISORS LLC | $858K | $13.41 | −$968K | +$858K | -0.4% | $138.22B |
| Denver PWM, LLC | $683K | $15.13 | +$0 | +$683K | +1.7% | $290M |
| MORGAN STANLEY | $640K | $13.81 | −$130K | +$629K | -0.3% | $1.65T |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $582K | $9.27 | −$33K | +$582K | +0.7% | $645.81B |
| Bank of New York Mellon Corp | $578K | $9.05 | +$28K | +$578K | -0.2% | $543.21B |
| UBS Group AG | $568K | $12.10 | −$1.6M | +$555K | -0.3% | $562.11B |
| ADVISOR GROUP HOLDINGS, INC. | $527K | $10.89 | +$163K | +$527K | -0.3% | $67.63B |
| Creative Planning | $499K | $9.81 | +$185K | +$499K | -0.7% | $144.46B |
| RAYMOND JAMES FINANCIAL INC | $460K | $14.73 | +$103K | +$445K | -0.0% | $322.69B |
| IEQ CAPITAL, LLC | $364K | $5.22 | +$364K | +$364K | -0.9% | $21.54B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
+0.28%
avg per quarter
Holders (ex-self)
+0.41%
excl. this stock
Buyers (this Q)
-0.21%
69 buyers · $0.01B in
Sellers (this Q)
-0.16%
34 sellers · $0.01B out
alpha coverage: 99% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+25.0%
how holders react when this stock falls
On quiet Qs
-0.9%
−10% to +10% baseline
On rallies (+10%+)
-3.4%
how they react when this stock rises
Holders' portfolio flow this Q
+11.1%
inflows — adds are organic
Sellers' portfolio flow this Q
+4.6%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-1.2%
Holder mid (any stock)
-0.9%
Holder rally (any stock)
-3.4%
Biggest decreases this quarter
UBS Group AG−$1.6Mα-0.3CITADEL ADVISORS LLC−$968Kα-0.4RENAISSANCE TECHNOLOGIES LLCexited−$686KEngineers Gate Manager LPexited−$323KBANK OF AMERICA CORP /DE/−$274Kα-0.1MILLENNIUM MANAGEMENT LLCexited−$198KAristides Capital LLCexited−$162KAXXCESS WEALTH MANAGEMENT, LLCexited−$145KColonial River Investments, LLCexited−$144KVARCOV Co.exited−$139K
New buyers this quarter
Top-5 holders · 85.1%
Greenwich Wealth Management LLC--
BlackRock, Inc.--
GOLDMAN SACHS GROUP INC--
STATE STREET CORP--
GEODE CAPITAL MANAGEMENT, LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Greenwich Wealth Management LLC22.8MUBS Group AG109KGOLDMAN SACHS GROUP INC999KCITADEL ADVISORS LLC164KSoviero Asset Management, LP—Point72 (DIFC) Ltd—AQR CAPITAL MANAGEMENT LLC432KBANK OF AMERICA CORP /DE/62KCANADA PENSION PLAN INVESTMENT BOARD18KCAPROCK Group, Inc.20K
Corporate
Order Flow (FINRA, ~3w lag)
28.9%retail+0.7pp
17.2%dark+0.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
NEWSMAX INC.: Massive Defamation Settlements and Toxic Standby Equity Agreements Create a Liquidity Time Bomb
Overall Risk
8/10
Fraud
4/10
Dilution
9/10
Insolvency
7/10
Earnings Overstated
5/10
Hidden Liabilities
6/10
Legal
10/10
Audit Warnings
5/10
Hidden Upside
2/10
Contextually Acceptable
3/10