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Saturday 31 October 2026
Export TTD’s income statement to Excel — free account
The Trade Desk
TTD Communication Services Advertising Agencies
The Trade Desk’s revenue for fiscal 2025 (year ended December 2025) was $2.9 billion, up 18.5% from fiscal 2024. In the quarter to June 2026, revenue grew 3.03%, EPS fell 22.2% and free cash flow grew 29.8%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
12.26
0.80
−6.13%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
41.71 | 148.77 | 190.78 | 400.18 | 318.19 | 154.04 | 107.36 | 56.36 | 36.83 | 0.00 |
Piotroski F-Score |
7 | 7 | 6 | 7 | 7 | 7 | 5 | 6 | 4 | 4 |
Altman Z-Score |
4.07 | 12.14 | 8.79 | 6.94 | 13.91 | 13.86 | 7.36 | 5.35 | 3.11 | 1.89 |
P/S ratio |
6.40 | 23.60 | 17.75 | 13.59 | 36.52 | 44.35 | 17.50 | 10.32 | 6.06 | 2.42 |
P/FCF ratio |
23.67 | 91.23 | 63.57 | 46.92 | 137.18 | 114.09 | 590.26 | 80.24 | 102.87 | 7.47 |
Altman Z″-Score (non-manufacturers) |
3.17 | 4.28 | 3.66 | 4.37 | 3.94 | 3.52 | 3.42 | 3.59 | 3.23 | 3.19 |
Beneish M-Score |
(2.80) | (2.48) | (2.72) | (2.88) | (2.64) | (2.45) | (0.39) | (1.83) | (1.69) | (2.27) |
P/Operating CF |
59.49 | 289.33 | 379.03 | 123.56 | 267.44 | 221.27 | (412.20) | 102.53 | 77.22 | 13.64 |
P/B ratio |
7.46 | 19.56 | 15.96 | 10.13 | 28.61 | 36.59 | 18.89 | 12.49 | 7.61 | 2.99 |
Price to Tangible BV |
7.46 | 19.56 | 15.96 | 10.13 | 28.61 | 36.59 | 18.89 | 12.49 | 7.61 | 2.99 |
EV/Sales |
5.97 | 22.84 | 17.07 | 12.71 | 35.78 | 43.69 | 17.38 | 9.95 | 5.65 | 1.90 |
EV/EBITDA |
24.54 | 108.51 | 118.30 | 119.36 | 256.31 | 211.32 | 85.84 | 39.85 | 22.72 | 6.28 |
EV/Operating CF |
17.43 | 75.52 | 55.54 | 36.56 | 113.11 | 90.17 | 190.85 | 54.83 | 55.72 | 5.13 |
EV/FCF |
22.10 | 88.31 | 61.16 | 43.91 | 134.40 | 112.40 | 586.21 | 77.31 | 95.81 | 5.85 |
Quick Ratio |
1.55 | 1.83 | 1.69 | 1.87 | 1.65 | 1.50 | 1.53 | 1.46 | 1.46 | 1.48 |
Current Ratio |
1.61 | 1.86 | 1.72 | 1.90 | 1.71 | 1.57 | 1.56 | 1.48 | 1.48 | 1.50 |
Net Debt/EBITDA |
(1.85) | (3.73) | (4.91) | (8.61) | (5.74) | (3.61) | (1.90) | (1.74) | (1.68) | (1.75) |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.39% | 4.81% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.11 | 0.16 |
Asset Turnover |
0.47 | 0.44 | 0.42 | 0.40 | 0.38 | 0.37 | 0.46 | 0.50 | 0.46 | 0.54 |
Operating CF/Net income |
2.24 | 1.88 | 3.34 | 10.28 | 2.75 | 1.67 | 0.56 | 0.98 | 0.61 | (2.81) |
Capex/Depreciation |
(1.81) | (1.22) | (0.68) | (1.69) | (1.42) | (2.80) | (1.87) | (2.13) | (1.81) | (2.43) |
Interest Coverage |
— | — | (2.93) | (8.91) | 121.18 | (219.83) | (23.78) | 53.66 | 40.85 | 18.71 |
| 16.32% | 15.37% | 8.36% | 2.93% | 10.85% | 29.81% | 21.51% | 27.54% | 24.78% | (29.94%) | |
| 7.23% | 7.15% | 3.86% | 1.34% | 4.35% | 10.81% | 7.61% | 9.21% | 7.61% | (7.15%) | |
ROIC |
31.18% | 25.98% | 15.98% | 10.62% | 13.72% | 23.16% | 19.61% | 35.81% | 37.17% | 63.26% |
Return on Tangible Assets |
18.53% | 14.71% | 9.11% | 2.68% | 9.67% | 25.47% | 18.58% | 23.47% | 19.19% | (14.29%) |
Average Days of Receivables |
475.13 | 497.20 | 538.33 | 542.99 | 616.45 | 691.60 | 644.01 | 638.37 | 710.02 | 678.54 |
Research and Development Expense of Revenue |
18.13% | 18.95% | 21.16% | 20.27% | 18.90% | 19.93% | 17.66% | 17.58% | 17.13% | 13.46% |
Selling, General and Administrative Expense of Revenue |
40.15% | 44.27% | 49.75% | 54.71% | 52.15% | 41.43% | 41.74% | 36.03% | 38.88% | 38.55% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
16.94% | 20.23% | 25.26% | 31.60% | 28.20% | 13.37% | 12.22% | 8.84% | 6.92% | 2.49% |
Graham Net Nets |
0.09 | 0.04 | 0.05 | 0.07 | 0.02 | 0.02 | 0.03 | 0.07 | 0.11 | 0.29 |
Graham Number |
10.21 | 10.33 | 6.07 | 3.28 | 4.56 | 5.06 | 2.74 | 2.08 | 1.32 | 0.00 |
Earnings Yield |
2.40% | 0.67% | 0.52% | 0.25% | 0.31% | 0.65% | 0.93% | 1.77% | 2.72% | (14.42%) |
Free Cash Flow Yield |
4.22% | 1.10% | 1.57% | 2.13% | 0.73% | 0.88% | 0.17% | 1.25% | 0.97% | 13.38% |
Revenue per Share |
5.93 | 4.98 | 3.98 | 3.24 | 2.51 | 1.81 | 1.48 | 1.12 | 0.77 | 1.11 |
Operating CF per Share |
2.03 | 1.51 | 1.22 | 1.13 | 0.79 | 0.88 | 0.14 | 0.20 | 0.08 | 0.41 |
Capex per Share |
(0.43) | (0.22) | (0.11) | (0.19) | (0.13) | (0.17) | (0.09) | (0.06) | (0.03) | (0.05) |
Free Cash Flow per Share |
1.60 | 1.29 | 1.11 | 0.94 | 0.67 | 0.70 | 0.04 | 0.14 | 0.05 | 0.36 |
Cash per Share |
2.67 | 3.91 | 2.82 | 2.97 | 2.01 | 1.35 | 0.57 | 0.49 | 0.39 | 0.73 |
Shareholders Equity per Share |
5.09 | 6.01 | 4.42 | 4.34 | 3.20 | 2.19 | 1.38 | 0.93 | 0.61 | 0.90 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
5.09 | 6.01 | 4.42 | 4.34 | 3.20 | 2.19 | 1.38 | 0.93 | 0.61 | 0.90 |
Free Cash Flow |
782.96 | 632.39 | 543.30 | 456.85 | 318.54 | 324.96 | 19.60 | 61.41 | 18.16 | 65.81 |
Working Capital |
1,995.01 | 2,462.99 | 1,803.12 | 1,816.29 | 1,288.34 | 835.63 | 518.85 | 342.53 | 247.28 | 172.27 |
Capital Expenditures |
(209.76) | (107.06) | (55.02) | (91.88) | (59.97) | (80.11) | (40.60) | (25.19) | (13.06) | (9.22) |
Net Current Asset Value |
1,592.18 | 2,173.65 | 1,589.49 | 1,580.28 | 1,041.62 | 569.82 | 332.98 | 333.22 | 214.23 | 143.19 |
EV/EBIT |
29.36 | 130.73 | 165.75 | 176.51 | 343.00 | 253.27 | 102.41 | 44.24 | 25.09 | 6.69 |
Capex to Sales |
0.07 | 0.04 | 0.03 | 0.06 | 0.05 | 0.10 | 0.06 | 0.05 | 0.04 | 0.05 |
Price to Operating Income |
31.45 | 135.06 | 172.27 | 188.60 | 350.10 | 257.10 | 103.12 | 45.91 | 26.94 | 8.55 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.29 | 0.42 | 0.50 | 0.31 | 0.31 | 0.25 | 0.34 | 0.36 | 0.41 | 0.26 |
Cash ROIC |
20.67% | 12.98% | 15.33% | 12.83% | 12.81% | 19.85% | 2.26% | 10.20% | 4.24% | 20.34% |
Accounts Receivable Turnover |
0.82 | 0.79 | 0.75 | 0.72 | 0.66 | 0.61 | 0.66 | 0.67 | 0.63 | 0.71 |
Accounts Payable Turnover |
0.22 | 0.19 | 0.17 | 0.16 | 0.15 | 0.16 | 0.20 | 0.20 | 0.16 | 0.19 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
1,773.30 | 2,034.68 | 2,313.53 | 2,429.78 | 2,727.66 | 2,752.58 | 2,030.00 | 2,140.60 | 2,702.52 | 2,939.73 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
3,550.27 | 3,100.33 | 2,608.75 | 2,183.96 | 1,802.41 | 1,375.24 | 1,000.57 | 717.16 | 488.40 | 284.59 |
Average Payables |
2,819.43 | 2,474.27 | 2,094.37 | 1,763.55 | 1,502.08 | 1,108.55 | 768.88 | 579.76 | 405.77 | 214.81 |
Average Assets |
6,132.59 | 5,500.32 | 4,634.68 | 3,979.01 | 3,165.49 | 2,241.20 | 1,423.32 | 957.52 | 667.38 | 373.91 |
Average Common Equity |
2,716.77 | 2,556.68 | 2,139.78 | 1,821.32 | 1,270.23 | 812.83 | 503.54 | 320.08 | 204.98 | 89.26 |
Columns are period end dates