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%
                    
                    P67
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$6.2B
                    ROA +7.2%
                    
                    P48
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$992.7M
                    FCF margin +27.0%
                    
                    P95
                    
                    n/a

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

23 accounts · 1 year

Total assets $6.2B

Total liabilities $3.7B

Shareholders equity $2.5B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$658.2M
Short Term Investments	$644.9M
Accounts Receivable	$3.8B
Prepaid Expenses	$187.8M
Total Current Assets	$5.3B
Property,Plant and Equipment	$396.8M
Operating Lease Assets	$342.0M
Deferred Tax Assets	$55.7M
Other Noncurrent Assets	$97.7M
Total Assets	$6.2B
Liabilities
Accounts Payable	$3.0B
Accrued Liabilities	$182.0M
Operating Lease Liabilities	$76.4M
Total Current Liabilities	$3.3B
Operating Lease Liabilities Noncurrent	$360.0M
Other Noncurrent Liabilities	$42.9M
Total Liabilities	$3.7B
Equity
Preferred Stock	$0
Common Stock	$0
Additional Paid In Capital	$3.1B
Retained Earnings	$-590.9M
Total Stockholders Equity	$2.5B
Total Liabilitiesand Equity	$6.2B

Income Statement

Revenue, expense, and profitability

13 accounts · 1 year

Revenue $2.9B

Operating income $589.3M

Net income $443.3M

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$2.9B
Expenses Cost of Revenue	$619.1M
Expenses Research and Development	$525.1M
Expenses Selling,General and Administrative	$1.2B
Other Income Expense Operating Income	$589.3M
Other Income Expense Interest Income	$68.7M
Other Income Expense Other Income/expense	$717.0K
Other Income Expense Income Before Tax	$658.8M
Income Tax Income Tax Expense	$215.5M
net Income net Income	$443.3M
Earnings Per Share Basic Eps	$1
Earnings Per Share Diluted Eps	$1
Earnings Per Share Weighted Average Shares Diluted	$493.6M

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	$443.3M
Operating Activities Depreciation and Amortization	$115.8M
Operating Activities Stock Based Compensation	$490.6M
Operating Activities Deferred Income Taxes	$167.7M
Operating Activities Changes In Operating Assets and Liabilities	$-275.1M
Operating Activities Other Non Cash Items	$50.4M
Operating Activities net Cash From Operating Activities	$992.7M
Investing Activities Capital Expenditures	$-209.8M
Investing Activities Business Acquisitions	$-4.3M
Investing Activities Purchases of Investments	$-954.3M
Investing Activities Proceeds From Sale of Investments	$875.8M
Investing Activities net Cash From Investing Activities	$-292.6M
Financing Activities Repurchase of Common Stock	$-1.4B
Financing Activities Proceeds From Stock Issuance	$66.7M
Financing Activities Tax Withholding On Stock Based Compensation	$-97.7M
Financing Activities net Cash From Financing Activities	$-1.4B
Cash Reconciliation net Change In Cash	$-711.3M

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	+27.0%
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

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FY2025 fundamentals · no price

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