Trade Desk (The)

Communication Services Advertising Ventura, California Last filing Feb 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$2.9B
                    3y CAGR +22.4%
                    
                    P95
                    
                    +18.5%
                    
                    Net income
                    FY2025
                
$443.3M
                    Net margin +15.3%
                    
                    P67
                    
                    +12.8%
                    
                    Total assets
                    FY2025
                
$6.2B
                    ROA +7.2%
                    
                    P48
                    
                    +0.7%
                    
                    Operating cash flow
                    FY2025
                
$992.7M
                    FCF margin +27.0%
                    
                    P95
                    
                    +34.3%

12 yrs · FY2014–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

23 accounts · 3 years

Total assets $6.2B

Total liabilities $3.7B

Shareholders equity $2.5B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	10.7%	22.4%	18.3%
Short Term Investments	10.5%	9.0%	9.9%
Accounts Receivable	61.3%	54.5%	58.7%
Prepaid Expenses	3.1%	1.4%	1.3%
Total Current Assets	85.5%	87.3%	88.2%
Property,Plant and Equipment	6.4%	3.4%	3.3%
Operating Lease Assets	5.6%	4.3%	4.0%
Deferred Tax Assets	0.9%	3.8%	3.2%
Other Noncurrent Assets	1.6%	1.2%	1.2%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	48.9%	43.1%	47.4%
Accrued Liabilities	3.0%	2.9%	2.8%
Operating Lease Liabilities	1.2%	1.1%	1.1%
Total Current Liabilities	53.1%	47.0%	51.4%
Operating Lease Liabilities Noncurrent	5.9%	4.1%	3.7%
Other Noncurrent Liabilities	0.7%	0.7%	0.7%
Total Liabilities	59.6%	51.7%	55.7%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	50.0%	42.5%	40.2%
Retained Earnings	-9.6%	5.8%	4.0%
Total Stockholders Equity	40.4%	48.3%	44.3%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

13 accounts · 3 years

Revenue $2.9B

Operating income $589.3M

Net income $443.3M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	47.1%	40.0%	39.8%
Expenses Cost of Revenue	10.1%	7.7%	7.5%
Expenses Research and Development	8.5%	7.6%	8.4%
Expenses Selling,General and Administrative	18.9%	17.7%	19.8%
Other Income Expense Operating Income	9.6%	7.0%	4.1%
Other Income Expense Interest Income	1.1%	1.3%	1.4%
Other Income Expense Other Income/expense	0.0%	0.0%	-0.0%
Other Income Expense Income Before Tax	10.7%	8.3%	5.5%
Income Tax Income Tax Expense	3.5%	1.9%	1.8%
net Income net Income	7.2%	6.4%	3.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	8.0%	8.2%	10.2%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 3 years

Operating cash flow $992.7M

Investing cash flow $-292.6M

Financing cash flow $-1.4B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	7.2%	6.4%	3.7%
Operating Activities Depreciation and Amortization	1.9%	1.4%	1.6%
Operating Activities Stock Based Compensation	8.0%	8.1%	10.1%
Operating Activities Deferred Income Taxes	2.7%	-1.3%	-1.3%
Operating Activities Changes In Operating Assets and Liabilities	-4.5%	-3.4%	-2.5%
Operating Activities Other Non Cash Items	0.8%	0.8%	0.6%
Operating Activities net Cash From Operating Activities	16.1%	12.1%	12.2%
Investing Activities Capital Expenditures	-3.4%	-1.8%	-1.1%
Investing Activities Business Acquisitions	-0.1%	0.0%	0.0%
Investing Activities Purchases of Investments	-15.5%	-11.1%	-12.4%
Investing Activities Proceeds From Sale of Investments	14.2%	10.3%	11.4%
Investing Activities net Cash From Investing Activities	-4.8%	-2.6%	-2.2%
Financing Activities Repurchase of Common Stock	-22.4%	-3.8%	-13.2%
Financing Activities Proceeds From Stock Issuance	1.1%	4.4%	2.0%
Financing Activities Tax Withholding On Stock Based Compensation	-1.6%	-2.3%	-1.6%
Financing Activities net Cash From Financing Activities	-22.9%	-1.8%	-12.8%
Cash Reconciliation net Change In Cash	-11.6%	7.8%	-2.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+78.6%	+80.7%	+81.2%
Operating margin	+20.3%	+17.5%	+10.3%
Net margin	+15.3%	+16.1%	+9.2%
FCF margin	+27.0%	+25.9%	+27.9%
Growth
Revenue CAGR (3y)	+22.4%	+26.9%	+32.5%
Returns
ROE	+17.8%	+13.3%	+8.3%
ROA	+7.2%	+6.4%	+3.7%
ROIC	—	—	—
Liquidity
Current ratio	1.61x	1.86x	1.72x
Quick ratio	1.36x	1.64x	1.50x
Leverage
D/E	1.48x	1.07x	1.26x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.47x	0.40x	0.40x
Cash conversion cycle	—	—	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No price data cached, so there is nothing to multiply. Load prices from the Stock Data tab and this panel reprices itself.

Notes

Your annotations

Not watched

Trade Desk (The)

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Recent price history