TTD

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The Trade Desk, Inc.

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Key Metrics

Previous Close: $13.54
52-Week Range: $12.83 – $56.39
Market Cap: $6.26B
P/E (TTM): 15.86
EPS (TTM): 0.84
Dividend Yield: —

Advanced Metrics

Price/Book: 2.56
PEG Ratio: 1.15
Return on Equity: 15.44%
Return on Assets: 6.25%
Gross Margin: 76.87%
Operating Margin: 14.21%
Profit Margin: 13.61%
Current Ratio: 1.72
Debt/Equity: 0.17
Total Debt: $434.11M
Free Cash Flow: $582.99M
Revenue Growth: 3.00%
Earnings Growth: -23.60%
Enterprise Value: $5.31B

TTD Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.58B	$1.95B	$2.44B	$2.90B
Cost of Revenue	$281.12M	$365.60M	$472.01M	$619.07M
Gross Profit	$1.30B	$1.58B	$1.97B	$2.28B
Research & Development	$319.88M	$411.79M	$463.32M	$525.14M
Selling, General & Admin	$863.14M	$968.25M	$1.08B	$1.16B
Operating Expenses	$1.18B	$1.38B	$1.55B	$1.69B
Operating Income	$113.65M	$200.48M	$427.17M	$589.32M
EBITDA	$168.08M	$280.90M	$514.66M	$705.11M
Pretax Income	$127.37M	$268.00M	$507.30M	$658.75M
Income Tax	$73.98M	$89.06M	$114.23M	$215.45M
Net Income	$53.38M	$178.94M	$393.08M	$443.30M
Diluted EPS	0.11	0.36	0.78	0.90
Diluted Shares	499.93M	500.18M	501.92M	493.55M

TTD Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$1.03B	$895.13M	$1.37B	$658.17M
Receivables	$2.35B	$2.87B	$3.33B	$3.77B
Current Assets	$3.85B	$4.31B	$5.34B	$5.26B
Total Assets	$4.38B	$4.89B	$6.11B	$6.15B
Current Liabilities	$2.03B	$2.51B	$2.87B	$3.27B
Total Debt	$260.96M	$235.89M	$312.21M	$436.33M
Total Liabilities	$2.27B	$2.72B	$3.16B	$3.67B
Retained Earnings	$665.51M	$196.95M	$354.25M	-$590.91M
Shareholders' Equity	$2.12B	$2.16B	$2.95B	$2.48B
Working Capital	$1.82B	$1.80B	$2.46B	$2.00B

TTD Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$548.73M	$598.32M	$739.46M	$992.72M
Capital Expenditure	-$91.89M	-$55.02M	-$107.06M	-$209.76M
Free Cash Flow	$456.85M	$543.30M	$632.39M	$782.96M
Depreciation & Amortisation	$54.42M	$80.42M	$87.49M	$115.78M
Stock-Based Compensation	$498.64M	$491.62M	$494.70M	$490.63M
Investing Cash Flow	-$304.37M	-$107.59M	-$157.51M	-$292.63M
Financing Cash Flow	$31.99M	-$626.11M	-$107.61M	-$1.41B
Share Repurchases	$0.00	-$646.60M	-$234.78M	-$1.38B
Net Change in Cash	$276.35M	-$135.38M	$474.33M	-$711.29M

TTD Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$694.04M	$739.43M	$846.79M	$688.86M	$715.06M
Cost of Revenue	$150.98M	$162.15M	$163.09M	$181.97M	$184.33M
Gross Profit	$543.06M	$577.28M	$683.70M	$506.89M	$530.72M
Research & Development	$134.25M	$127.89M	$130.59M	$142.72M	$140.74M
Selling, General & Admin	$292.03M	$288.17M	$296.23M	$297.52M	$288.40M
Operating Expenses	$426.28M	$416.06M	$426.82M	$440.24M	$429.15M
Operating Income	$116.78M	$161.22M	$256.87M	$66.65M	$101.58M
EBITDA	$143.48M	$194.35M	$288.83M	$110.76M	$131.72M
Pretax Income	$133.20M	$179.52M	$270.27M	$78.96M	$113.09M
Income Tax	$43.07M	$63.97M	$83.32M	$38.96M	$48.70M
Net Income	$90.13M	$115.55M	$186.95M	$40.00M	$64.39M
Diluted EPS	0.18	0.23	0.39	0.08	0.14
Diluted Shares	495.78M	492.98M	482.73M	476.88M	469.95M

TTD Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$896.39M	$653.13M	$658.17M	$878.38M	$1.12B
Receivables	$3.25B	$3.48B	$3.77B	$3.32B	$3.20B
Current Assets	$5.05B	$5.12B	$5.26B	$4.86B	$4.82B
Total Assets	$5.96B	$5.94B	$6.15B	$5.73B	$5.76B
Current Liabilities	$2.95B	$2.99B	$3.27B	$2.89B	$2.79B
Total Debt	$343.55M	$375.98M	$436.33M	$423.57M	$434.11M
Total Liabilities	$3.26B	$3.34B	$3.67B	$3.28B	$3.19B
Retained Earnings	-$162.36M	-$364.44M	-$590.91M	-$724.95M	-$719.49M
Shareholders' Equity	$2.70B	$2.60B	$2.48B	$2.45B	$2.57B
Working Capital	$2.10B	$2.13B	$2.00B	$1.97B	$2.02B

TTD Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$165.01M	$224.69M	$311.59M	$391.81M	$153.59M
Capital Expenditure	-$48.32M	-$69.69M	-$29.98M	-$115.77M	-$17.59M
Free Cash Flow	$116.69M	$155.00M	$281.61M	$276.04M	$136.00M
Depreciation & Amortisation	$26.70M	$33.13M	$31.96M	$31.43M	$30.14M
Stock-Based Compensation	$128.88M	$121.32M	$112.17M	$109.05M	$109.56M
Investing Cash Flow	-$213.57M	-$66.77M	$120.30M	$466.00K	$164.45M
Financing Cash Flow	-$173.60M	-$401.17M	-$426.84M	-$172.07M	-$73.44M
Share Repurchases	-$260.84M	-$310.45M	-$422.88M	-$163.51M	-$77.82M
Net Change in Cash	-$222.16M	-$243.25M	$5.04M	$220.20M	$244.60M

Market Snapshot

About

The Trade Desk operates a leading technology platform for digital advertising buyers. The company provides a self-service platform that enables advertisers to create, manage, and optimize data-driven digital advertising campaigns across various channels including display, video, audio, and connected TV. The Trade Desk serves advertising agencies and brands worldwide with programmatic advertising solutions.