Trade Desk, Inc. (TTD)
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.
- Symbol
- TTD
- Exchange
- Nasdaq
- Sector
- Communication Services
- Industry
- Advertising Agencies
- Market cap
- $6.17B
- 52 week range
- 12.58 - 56.39
Valuation
- Share price
- $12.68 (close of 2026-09-23)
- P/E (TTM)
- 15.51x
- Price to book
- 2.40x
- Price to free cash flow
- 7.15x
- Enterprise value
- $5.12B
- Book value per share
- $5.50
Price performance
| Period | Change |
|---|
| 1 day | -3.79% |
| 5 days | -12.49% |
| 1 month | -3.79% |
| 3 months | -29.28% |
| 6 months | -47.06% |
| Year to date | -66.60% |
| 1 year | -72.94% |
| 3 years | -83.39% |
| 5 years | -83.40% |
| 10 years | +357.78% |
| All time | +321.27% |
Profitability and growth
- Return on equity
- 17.84%
- Return on invested capital
- 23.11%
- Return on assets
- 7.20%
- Return on capital employed
- 20.41%
- Gross margin
- 78.63%
- Net margin
- 15.31%
- EBITDA margin
- 24.35%
- Revenue growth
- 18.47%
- Net income growth
- 12.78%
- Free cash flow growth
- 24.09%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 13.98%
- Current ratio
- 1.72x
- Net debt to EBITDA
- -1.45x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $2.90B
- Cost of revenue
- $619.07M
- Gross profit
- $2.28B
- EBITDA
- $705.11M
- Net income
- $443.30M
- Earnings per share
- $0.91
- Research and development
- $525.14M
- Shares outstanding
- 488.28M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $2.90B | $2.28B | $443.30M | $0.91 |
| 2024-12-31 | $2.44B | $1.97B | $393.08M | $0.80 |
| 2023-12-31 | $1.95B | $1.58B | $178.94M | $0.37 |
| 2022-12-31 | $1.58B | $1.30B | $53.38M | $0.11 |
| 2021-12-31 | $1.20B | $974.91M | $137.76M | $0.29 |
| 2020-12-31 | $836.03M | $657.22M | $242.32M | $0.52 |
| 2019-12-31 | $661.06M | $504.88M | $108.32M | $0.24 |
| 2018-12-31 | $477.29M | $363.20M | $88.14M | $0.21 |
| 2017-12-31 | $308.22M | $241.99M | $50.80M | $0.13 |
| 2016-12-31 | $202.93M | $163.05M | $20.48M | $-0.15 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 78.63% | 15.31% | 17.84% | 23.11% |
| 2024-12-31 | 80.69% | 16.08% | 13.33% | 23.36% |
| 2023-12-31 | 81.21% | 9.19% | 8.27% | 10.93% |
| 2022-12-31 | 82.18% | 3.38% | 2.52% | 6.11% |
| 2021-12-31 | 81.48% | 11.51% | 9.02% | 14.63% |
| 2020-12-31 | 78.61% | 28.98% | 23.92% | 21.16% |
| 2019-12-31 | 76.37% | 16.39% | 17.68% | 19.07% |
| 2018-12-31 | 76.09% | 18.47% | 22.34% | 38.29% |
| 2017-12-31 | 78.51% | 16.48% | 20.68% | 63.07% |
| 2016-12-31 | 80.35% | 10.09% | 12.46% | 110.28% |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $1.30B |
| 2024-12-31 | $1.92B |
| 2023-12-31 | $1.38B |
| 2022-12-31 | $1.45B |
| 2021-12-31 | $958.78M |
| 2020-12-31 | $624.04M |
| 2019-12-31 | $254.99M |
| 2018-12-31 | $207.23M |
| 2017-12-31 | $155.95M |
| 2016-12-31 | $133.40M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $795.71M | $490.63M |
| 2024-12-31 | $641.22M | $494.70M |
| 2023-12-31 | $551.53M | $491.62M |
| 2022-12-31 | $464.57M | $498.64M |
| 2021-12-31 | $323.71M | $337.41M |
| 2020-12-31 | $331.01M | $111.78M |
| 2019-12-31 | $24.51M | $80.76M |
| 2018-12-31 | $66.81M | $42.21M |
| 2017-12-31 | $21.11M | $21.32M |
| 2016-12-31 | $68.15M | $5.06M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-05
- Consensus EPS estimate
- $0.08
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-06 | Jun/2026 | $0.22 |
| 2026-05-07 | - | - |
| 2026-02-25 | - | - |
| 2025-11-06 | - | - |
| 2025-08-07 | - | - |
| 2025-05-08 | - | - |
| 2025-02-12 | - | - |
| 2024-11-07 | - | - |
Filings and sources
- Company website
- thetradedesk.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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