Trade Desk, Inc.
Trade Desk, Inc.
Trade Desk, Inc. (TTD) — SEC Financial Statements & Analysis
Trade Desk, Inc. (TTD) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 878 | 658 | 653 | 896 | 1,119 | 1,369 | 1,221 | 1,009 | 918 | 895 | 1,072 | 966 | |||||
Short Term Investments | 528 | 645 | 792 | 791 | 622 | 552 | 510 | 497 | 501 | 485 | 450 | 465 | |||||
Accounts Receivable Net Current | 3,324 | 3,770 | 3,478 | 3,255 | 3,052 | 3,330 | 2,989 | 2,906 | 2,619 | 2,870 | 2,434 | 2,346 | |||||
Prepaid Expense And Other Assets Current | 132 | 188 | 197 | 112 | 64 | 85 | 117 | 111 | 58 | 63 | 58 | 55 | |||||
Assets Current | 4,862 | 5,261 | 5,120 | 5,054 | 4,856 | 5,336 | 4,838 | 4,523 | 4,096 | 4,314 | 4,014 | 3,832 | |||||
Property Plant And Equipment Net | 389 | 397 | 323 | 310 | 251 | 209 | 198 | 192 | 151 | 161 | 153 | 160 | |||||
Operating Lease Right Of Use Asset | 326 | 342 | 287 | 269 | 279 | 264 | 242 | 229 | 202 | 198 | 209 | 212 | |||||
Deferred Income Tax Assets Net | 56 | 56 | 111 | 229 | 229 | 230 | 155 | 155 | 155 | 155 | 94 | 94 | |||||
Other Assets Noncurrent | 101 | 98 | 100 | 96 | 90 | 72 | 72 | 61 | 60 | 61 | 51 | 49 | |||||
Assets | 5,734 | 6,153 | 5,940 | 5,958 | 5,705 | 6,112 | 5,505 | 5,160 | 4,664 | 4,889 | 4,520 | 4,347 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Accounts Payable Current | 2,633 | 3,008 | 2,761 | 2,724 | 2,399 | 2,631 | 2,410 | 2,337 | 2,095 | 2,317 | 1,968 | 1,893 | |||||
Accrued Liabilities Current | 180 | 182 | 160 | 152 | 211 | 178 | 142 | 120 | 131 | 138 | 122 | 103 | |||||
Operating Lease Liability Current | 78 | 76 | 73 | 72 | 72 | 64 | 63 | 62 | 57 | 56 | 58 | 55 | |||||
Liabilities Current | 2,890 | 3,266 | 2,995 | 2,949 | 2,682 | 2,873 | 2,615 | 2,518 | 2,283 | 2,511 | 2,147 | 2,051 | |||||
Operating Lease Liability Noncurrent | 346 | 360 | 303 | 271 | 263 | 248 | 230 | 203 | 180 | 180 | 190 | 198 | |||||
Other Liabilities Noncurrent | 44 | 43 | 42 | 42 | 44 | 42 | 34 | 33 | 33 | 33 | 28 | 26 | |||||
Liabilities | 3,281 | 3,669 | 3,340 | 3,262 | 2,989 | 3,163 | 2,880 | 2,755 | 2,497 | 2,724 | 2,365 | 2,276 | |||||
Stockholders Equity | |||||||||||||||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Additional Paid In Capital Common Stock | 3,178 | 3,075 | 2,965 | 2,858 | 2,712 | 2,595 | 2,397 | 2,217 | 2,063 | 1,967 | 1,835 | 1,700 | |||||
Retained Earnings Accumulated Deficit | -725 | -591 | -364 | -162 | 5 | 354 | 229 | 188 | 103 | 197 | 320 | 371 | |||||
Stockholders Equity | 2,453 | 2,484 | 2,601 | 2,696 | 2,717 | 2,949 | 2,626 | 2,405 | 2,167 | 2,164 | 2,156 | 2,071 | |||||
Liabilities And Stockholders Equity | 5,734 | 6,153 | 5,940 | 5,958 | 5,705 | 6,112 | 5,505 | 5,160 | 4,664 | 4,889 | 4,520 | 4,347 | |||||
Common Class A | 427 | 433 | -5 | -2 | 448 | 1,000 | 2 | 2 | 445 | 1,000 | 0 | -254 | |||||
Common Class B | 43 | 43 | 0 | -0 | 43 | 95 | 0 | 0 | 44 | 95 | 0 | 0 | |||||
Allowance For Doubtful Accounts Receivable Current | 16 | 12 | 12 | 12 | 12 | 11 | 11 | 11 | 13 | 13 | 12 | 11 | |||||
Preferred Stock Number Of… | |||||||||||||||||
Preferred Stock Par Or Stated Value Per Share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Authorized | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | |||||
Preferred Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Number Of Sh… | |||||||||||||||||
Common Stock Par Or Stated Value Per Share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -8.22% | - | - | - | - | - | - | - | - | - | - | - |
| 2025 | 25.58% | 15.74% | 43.81% | -38.12% | -46.63% | -41.13% | -13.81% | -16.54% | -20.37% | 1.22% | -5.67% | -11.21% |
| 2024 | 6.33% | 11.93% | 5.92% | 18.42% | 23.99% | 35.35% | -3.00% | -8.41% | -9.48% | -25.15% | -30.92% | -1.42% |
| 2023 | 14.27% | 18.85% | 39.22% | -1.24% | -3.44% | -17.39% | -6.78% | -6.31% | -11.46% | 7.77% | 13.37% | 17.01% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 1.68 | 1.61 | 1.71 | 1.71 | 1.81 | 1.86 | 1.85 | 1.80 | 1.79 | 1.72 | 1.87 | 1.87 | |||||
| Quick Ratio | 1.64 | 1.55 | 1.64 | 1.68 | 1.79 | 1.83 | 1.81 | 1.75 | 1.77 | 1.69 | 1.84 | 1.84 | |||||
| Working Capital | 1.97B | 2.00B | 2.13B | 2.10B | 2.17B | 2.46B | 2.22B | 2.00B | 1.81B | 1.80B | 1.87B | 1.78B | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 1.34 | 1.48 | 1.28 | 1.21 | 1.10 | 1.07 | 1.10 | 1.15 | 1.15 | 1.26 | 1.10 | 1.10 | |||||
| Debt Ratio | 0.57 | 0.60 | 0.56 | 0.55 | 0.52 | 0.52 | 0.52 | 0.53 | 0.54 | 0.56 | 0.52 | 0.52 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.52 | 0.47 | 0.49 | 0.48 | 0.50 | 0.44 | 0.46 | 0.46 | 0.47 | 0.42 | 0.43 | 0.43 | |||||
| Days Sales Outstanding TTM | 391.88 | 447.42 | 422.99 | 419.65 | 402.78 | 462.86 | 428.55 | 440.68 | 417.98 | 489.28 | 444.62 | 447.52 | |||||
| Receivables Turnover TTM | 0.93 | 0.82 | 0.86 | 0.87 | 0.91 | 0.79 | 0.85 | 0.83 | 0.87 | 0.75 | 0.82 | 0.82 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 0.91 | 0.90 | 0.89 | 0.84 | 0.82 | 0.78 | 0.61 | 0.51 | 0.40 | 0.36 | 0.30 | 0.26 | |||||
| Free Cash Flow Per Share TTM | 1.77 | 1.63 | 1.41 | 1.54 | 1.40 | 1.31 | 1.07 | 1.00 | 1.13 | 1.13 | 1.25 | 1.10 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 77.83% | 78.63% | 78.81% | 79.41% | 80.11% | 80.69% | 81.06% | 81.23% | 81.29% | 81.21% | 81.18% | 81.46% | |||||
| Operating Profit Margin TTM | 20.26% | 20.35% | 18.91% | 17.73% | 17.63% | 17.47% | 16.29% | 14.05% | 12.29% | 10.30% | 8.53% | 8.50% | |||||
| Net Profit Margin TTM | 14.57% | 15.31% | 15.72% | 15.57% | 16.04% | 16.08% | 13.34% | 11.65% | 9.80% | 9.19% | 8.35% | 7.46% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 15.55% | 18.47% | 20.82% | 23.18% | 25.07% | 25.63% | 26.14% | 25.53% | 24.88% | 23.34% | 23.50% | 24.74% | |||||
| Net Income Growth (1Y) | 4.98% | 12.78% | 42.32% | 64.66% | 104.74% | 119.67% | 101.68% | 95.92% | 160.35% | 235.19% | -1,665.13% | 283.15% | |||||
| EPS Growth (1Y) | 9.46% | 13.38% | 43.45% | 64.23% | 102.11% | 118.95% | 100.79% | 95.55% | 160.97% | 233.60% | -1,660.39% | 281.49% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 24.89 | 41.81 | 54.50 | 84.66 | 65.72 | 146.77 | 174.92 | 188.64 | 212.19 | 196.75 | 250.32 | 291.65 | |||||
| P/B | 4.39 | 7.46 | 9.19 | 13.10 | 9.97 | 19.56 | 20.53 | 19.87 | 19.71 | 16.27 | 17.75 | 18.21 | |||||
| P/S TTM | 3.63 | 6.40 | 8.57 | 13.18 | 10.54 | 23.60 | 23.34 | 21.98 | 20.79 | 18.09 | 20.89 | 21.77 | |||||
| Market Cap | 10.77B | 18.54B | 23.90B | 35.32B | 27.08B | 57.69B | 53.91B | 47.80B | 42.71B | 35.21B | 38.25B | 37.72B | |||||
| Enterprise Value | 10.32B | 18.31B | 23.63B | 34.77B | 26.30B | 56.64B | 52.98B | 47.05B | 42.03B | 34.55B | 37.43B | 37.00B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 842.45M | 795.71M | 689.66M | 755.92M | 695.29M | 641.22M | 527.93M | 489.82M | 551.36M | 551.53M | 611.32M | 538.26M | |||||
| Net Debt | -454.80M | -221.85M | -277.16M | -552.84M | -783.58M | -1.06B | -928.26M | -745.02M | -680.54M | -659.24M | -823.67M | -712.96M | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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