Trade Desk (The)

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

                    Revenue
                    FY2025
                
$2.9B
                    3y CAGR +22.4%
                    
                    P95
                    
                    n/a
                    
                    Net income
                    FY2025
                
$443.3M
                    Net margin +15.3%
                    
                    P68
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$6.2B
                    ROA +7.2%
                    
                    P58
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$992.7M
                    FCF margin +27.5%
                    
                    P94
                    
                    n/a

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 revenue.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 1 year

Total assets $6.2B

Total liabilities $3.7B

Shareholders equity $2.5B

Account	2025	Trend
Assets
Cash and Cash Equivalents	22.7%
Short Term Investments	22.3%
Accounts Receivable	130.2%
Prepaid Expenses	6.5%
Other Current Assets	3.4%
Total Current Assets	181.6%
Property,Plant and Equipment	13.7%
Operating Lease Assets	11.8%
Long Term Investments	22.3%
Deferred Tax Assets	1.9%
Other Noncurrent Assets	3.4%
Total Assets	212.5%
Liabilities
Accounts Payable	103.8%
Accrued Liabilities	6.3%
Operating Lease Liabilities	2.6%
Other Current Liabilities	1.5%
Total Current Liabilities	112.8%
Operating Lease Liabilities Noncurrent	12.4%
Deferred Tax Liabilities	0.0%
Other Noncurrent Liabilities	1.5%
Total Liabilities	126.7%
Equity
Preferred Stock	0.0%
Common Stock	0.0%
Additional Paid In Capital	106.2%
Retained Earnings	-20.4%
Total Stockholders Equity	85.8%
Total Liabilitiesand Equity	212.5%

Income Statement

Revenue, expense, and profitability

17 accounts · 1 year

Revenue $2.9B

Operating income $589.3M

Net income $443.3M

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	21.4%
Expenses Research and Development	18.1%
Expenses Selling,General and Administrative	17.9%
Expenses Depreciation and Amortization	3.3%
Expenses Share Based Compensation	16.9%
Expenses Operating Expenses	79.7%
Other Income Expense Operating Income	20.3%
Other Income Expense Interest Income	2.4%
Other Income Expense Other Income/expense	2.4%
Other Income Expense Income Before Tax	22.7%
Income Tax Income Tax Expense	7.4%
net Income net Income	15.3%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	16.9%
Earnings Per Share Weighted Average Shares Diluted	17.0%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 1 year

Operating cash flow $992.7M

Investing cash flow $-292.6M

Financing cash flow $-1.4B

Account	2025	Trend
CashFlow
Operating Activities net Income	15.3%
Operating Activities Depreciation and Amortization	3.3%
Operating Activities Stock Based Compensation	16.9%
Operating Activities Deferred Income Taxes	6.0%
Operating Activities Changes In Operating Assets and Liabilities	27.6%
Operating Activities net Cash From Operating Activities	34.3%
Investing Activities Capital Expenditures	6.8%
Investing Activities Business Acquisitions	0.2%
Investing Activities Purchases of Investments	32.9%
Investing Activities net Cash From Investing Activities	-10.1%
Financing Activities Repurchase of Common Stock	47.7%
Financing Activities Proceeds From Stock Issuance	0.8%
Financing Activities Tax Withholding On Stock Based Compensation	3.4%
Financing Activities net Cash From Financing Activities	-48.7%
Cash Reconciliation net Change In Cash	-24.6%
Cash Reconciliation Cash At Beginning of Period	22.7%
Cash Reconciliation Cash At End of Period	22.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+78.6%
Operating margin	+20.3%
Net margin	+15.3%
FCF margin	+27.5%
Growth
Revenue CAGR (3y)	+22.4%
Returns
ROE	+17.8%
ROA	+7.2%
ROIC	—
Liquidity
Current ratio	1.61x
Quick ratio	1.36x
Leverage
D/E	1.48x
Interest coverage	—
Efficiency
Asset turnover	0.47x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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