The Trade Desk, Inc.

TTD

Communication ServicesLarge CapUS Equities · NYSE / NASDAQ

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Company Profile

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.

Valuation

Market Cap$9.9B

Current Price$18.10as of Jun 23, 2026

P/E Ratio22.30

P/B Ratio3.98

EV / EBITDA13.71

EV / Sales3.34

Profitability

Operating Margin20.3%

Net Profit Margin15.3%

EBITDA Margin24.3%

Returns

ROE17.8%

ROCE20.4%

ROIC %-

ROA7.2%

Solvency

Current Ratio1.61

Debt / Equity0.18

Debt / Assets0.07

CFO / Net Profit2.24

Price History▼ 73.71% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$2.9B▲ 18.5%

EBITDA$705M▲ 37.0%

Net Profit$443M▲ 12.8%

Cash from Ops (CFO)$993M▲ 34.3%

Free Cash Flow (FCF)$783M▲ 23.8%

Revenue CAGR 3Y22.4%

Revenue CAGR 5Y-

Net Profit CAGR 3Y102.5%

Net Profit CAGR 5Y-

Historical Growth

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	-	-

Financial Statements

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
Operating 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
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
Total Expenses	-	1,464.14	1,745.64	2,017.66	2,306.96
Operating Income	-	113.65	200.48	427.17	589.32
Total Operating Income As Reported	-	113.65	200.48	427.17	589.32
EBITDA	-	168.08	280.90	514.66	705.10
Normalized EBITDA	-	167.12	281.89	513.36	704.39
EBIT	-	113.65	200.48	427.17	589.32
Interest Income	-	12.76	68.51	78.84	68.72
Net Interest Income	-	12.76	68.51	78.84	68.72
Other Income Expense	-	0.96	-0.99	1.29	0.72
Interest Income Non Operating	-	12.76	68.51	78.84	68.72
Net Non Operating Interest Income Expense	-	12.76	68.51	78.84	68.72
Pretax Income	-	127.37	268	507.30	658.76
Tax Provision	-	73.98	89.06	114.23	215.45
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	0.20	-0.33	0.29	0.23
Net Income Continuous Operations	-	53.38	178.94	393.08	443.30
Net Income From Continuing And Discontinued Operation	-	53.38	178.94	393.08	443.30
Net Income From Continuing Operation Net Minority Interest	-	53.38	178.94	393.08	443.30
Net Income	-	53.38	178.94	393.08	443.30
Net Income Common Stockholders	-	53.38	178.94	393.08	443.30
Net Income Including Noncontrolling Interests	-	53.38	178.94	393.08	443.30
Normalized Income	-	52.63	179.60	392.07	442.82
Diluted NI Availto Com Stockholders	-	53.38	178.94	393.08	443.30
Basic Average Shares	-	486.94	489.26	490.88	488.28
Diluted Average Shares	-	499.92	500.18	501.92	493.55
Reconciled Depreciation	-	54.42	80.42	87.49	115.78
Reconciled Cost Of Revenue	-	281.12	365.60	472.01	619.07
Total Unusual Items	-	0.96	-0.99	1.29	0.72
Total Unusual Items Excluding Goodwill	-	0.96	-0.99	1.29	0.72
Gain On Sale Of Security	-	0.96	-0.99	1.29	0.72
General And Administrative Expense	-	525.17	520.28	535.82	518.46
Other Gand A	-	525.17	520.28	535.82	518.46
Total Other Finance Cost	1.03	-12.76	-68.51	-	-
Selling And Marketing Expense	-	337.98	447.97	546.52	644.30

Peer Comparison

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	$9.9B	22.30↑ premium	3.98	17.8%	13.71
EchoStar Corporation	SATS	$36.1B	-2.49	6.26	-251.4%	-4.08
Fox Corporation	FOXA	$27.5B	12.17	2.30	18.9%	7.70
Fox Corporation	FOX	$24.7B	10.90	2.06	18.9%	6.96
Omnicom Group Inc.	OMC	$21.6B	-

Learn while you research

Hand-picked academy chapters to deepen your understanding of The Trade Desk, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Growth Investing

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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

Metric

2021

2022

2023

2024

2025

Total Revenue

1,577.80

1,946.12

2,444.83

2,896.28

Operating 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

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

Total Expenses

1,464.14

1,745.64

2,017.66

2,306.96

Operating Income

113.65

200.48

427.17

589.32

Total Operating Income As Reported

113.65

200.48

427.17

589.32

EBITDA

168.08

280.90

514.66

705.10

Normalized EBITDA

167.12

281.89

513.36

704.39

EBIT

113.65

200.48

427.17

589.32

Interest Income

12.76

68.51

78.84

68.72

Net Interest Income

12.76

68.51

78.84

68.72

Other Income Expense

0.96

-0.99

1.29

0.72

Interest Income Non Operating

12.76

68.51

78.84

68.72

Net Non Operating Interest Income Expense

12.76

68.51

78.84

68.72

Pretax Income

127.37

268

507.30

658.76

Tax Provision

73.98

89.06

114.23

215.45

Tax Rate For Calcs

Tax Effect Of Unusual Items

0.20

-0.33

0.29

0.23

Net Income Continuous Operations

53.38

178.94

393.08

443.30

Net Income From Continuing And Discontinued Operation

53.38

178.94

393.08

443.30

Net Income From Continuing Operation Net Minority Interest

53.38

178.94

393.08

443.30

Net Income

53.38

178.94

393.08

443.30

Net Income Common Stockholders

53.38

178.94

393.08

443.30

Net Income Including Noncontrolling Interests

53.38

178.94

393.08

443.30

Normalized Income

52.63

179.60

392.07

442.82

Diluted NI Availto Com Stockholders

53.38

178.94

393.08

443.30

Basic Average Shares

486.94

489.26

490.88

488.28

Diluted Average Shares

499.92

500.18

501.92

493.55

Reconciled Depreciation

54.42

80.42

87.49

115.78

Reconciled Cost Of Revenue

281.12

365.60

472.01

619.07

Total Unusual Items

0.96

-0.99

1.29

0.72

Total Unusual Items Excluding Goodwill

0.96

-0.99

1.29

0.72

Gain On Sale Of Security

0.96

-0.99

1.29

0.72

General And Administrative Expense

525.17

520.28

535.82

518.46

Other Gand A

525.17

520.28

535.82

518.46

Total Other Finance Cost

1.03

-12.76

-68.51

Selling And Marketing Expense

337.98

447.97

546.52

644.30

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

The Trade Desk, Inc.this co.

TTD

$9.9B

22.30↑ premium

3.98

17.8%

13.71

EchoStar Corporation

SATS

$36.1B

-2.49

6.26

-251.4%

-4.08

Fox Corporation

FOXA

$27.5B

12.17

2.30

18.9%

7.70

Fox Corporation

FOX

$24.7B

10.90

2.06

18.9%

6.96

Omnicom Group Inc.

OMC

$21.6B

The Trade Desk, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

The Trade Desk, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on