The Trade Desk, Inc. operates as a technology company in the United States and internationally. The company creates, manages, and optimizes digital advertising campaigns across ad formats, channels and devices, including CTV and other video, display, audio, and native, on a multitude of devices, such televisions, streaming devices, mobile devices, computers and digital-out-of-home devices. It provides data and other value-added services. It serves advertising agencies, advertisers, and other service providers for agencies or advertisers. The Trade Desk, Inc. was incorporated in 2009 and is headquartered in Ventura, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.9B | $705M | $443M | $783M | 17.8% | 18.5% | 12.8% |
| 2024 | $2.4B | $515M | $393M | $632M | 13.3% | 25.6% | 119.7% |
| 2023 | $1.9B | $281M | $179M | $543M | 8.3% | 23.3% | 235.2% |
| 2022 | $1.6B | $168M | $53M | $457M | 2.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,577.80 | 1,946.12 | 2,444.83 | 2,896.28 |
| Cost Of Revenue | - | 281.12 | 365.60 | 472.01 | 619.07 |
| Gross Profit | - | 1,296.67 | 1,580.52 | 1,972.82 | 2,277.22 |
| Operating Expense | - | 1,183.02 | 1,380.04 | 1,545.65 | 1,687.90 |
| Operating Income | - | 113.65 | 200.48 | 427.17 | 589.32 |
| EBITDA | - | 168.08 | 280.90 | 514.66 | 705.10 |
| EBIT | - | 113.65 | 200.48 | 427.17 | 589.32 |
| Pretax Income | - | 127.37 | 268 | 507.30 | 658.76 |
| Tax Provision | - | 73.98 | 89.06 | 114.23 | 215.45 |
| Net Income | - | 53.38 | 178.94 | 393.08 | 443.30 |
| Net Income Common Stockholders | - | 53.38 | 178.94 | 393.08 | 443.30 |
| Total Expenses | - | 1,464.14 | 1,745.64 | 2,017.66 | 2,306.96 |
| Interest Income | - | 12.76 | 68.51 | 78.84 | 68.72 |
| Research And Development | - | 319.88 | 411.79 | 463.32 | 525.14 |
| Selling General And Administration | - | 863.14 | 968.25 | 1,082.33 | 1,162.76 |
| Normalized EBITDA | - | 167.12 | 281.89 | 513.36 | 704.39 |
| Normalized Income | - | 52.63 | 179.60 | 392.07 | 442.82 |
| Market Cap | 11,409.17 | 11,409.17 | 11,409.17 | 11,409.17 | 11,409.17 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Trade Desk, Inc.this co. | TTD | $11.7B | 25.74β premium | 4.59 | 17.8% | 15.87 |
| Comcast Corporation | CMCSA | $99.2B | 4.92 | 1.02 | 20.6% | 4.05 |
| Warner Bros. Discovery, Inc. | WBD | $67.8B | 93.34 | 1.89 | 2.0% | 4.51 |
| Electronic Arts Inc. | EA | $53.1B | 45.24 | 7.94 | 17.6% | 25.03 |
| Fox Corporation | FOXA | $29.0B |
| - |
| - |
| - |
| - |
| - |
| 11.81 |
| 2.24 |
| 18.9% |
| 7.50 |
| Fox Corporation | FOX | $25.9B | 10.56 | 2.00 | 18.9% | 6.76 |
| Charter Communications, Inc. | CHTR | $24.3B | 5.10 | 1.58 | 31.1% | 5.76 |
| News Corporation | NWS | $17.2B | 14.05 | 1.89 | 13.4% | 12.09 |
| News Corporation | NWSA | $14.9B | 12.17 | 1.64 | 13.4% | 10.53 |
| Peer Median | - | 11.99 | 1.89 | 18.2% | 7.13 | |