TRADE DESK, INC. financials

TTD CIK 0001671933

Source: EDGAR filings · raw companyfacts JSON · Built 2026-04-25T10:19:29Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 795.71M 641.22M 551.53M 464.57M 323.71M 331.01M
EBITDA 705.11M 514.66M 280.90M 168.08M 167.04M 172.84M
Working Capital 2.00B 2.46B 1.80B 1.82B 1.29B 835.63M
Net Debt -221.84M -1.06B -659.24M -769.55M -469.56M -144.92M
Gross Margin 78.63% 80.69% 81.21% 82.18% 81.48% 78.61%
Operating Margin 20.35% 17.47% 10.30% 7.20% 10.43% 17.25%
Net Margin 15.31% 16.08% 9.19% 3.38% 11.51% 28.98%
Return on Equity (ROE) 17.84% 13.33% 8.27% 2.52% 9.02% 23.92%
Return on Assets (ROA) 7.20% 6.43% 3.66% 1.22% 3.85% 8.80%
Current Ratio 1.6108 1.8572 1.7181 1.895 1.7144 1.5667
Debt-to-Equity 0.1756 0.1059 0.109 0.1234 0.1863 0.2886
Effective Tax Rate 32.71% 22.52% 33.23% 58.09% -12.89% -68.39%
Cash Conversion Ratio 2.2394 1.8812 3.3437 10.2788 2.7476 1.6716
Accruals Ratio -0.0893 -0.0567 -0.0858 -0.1131 -0.0673 -0.0591
SBC % of Revenue 16.94% 20.23% 25.26% 31.60% 28.20% 13.37%
CapEx Coverage 5.0389 7.5272 12.7874 6.5201 6.9067 5.4694
Free Cash Flow Per Share $1.61 $1.28 $1.10 $0.93 $0.65 $0.68

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 42.1778 150.6795 199.8889 407.5455 327.2857 163.4694
P/FCF 23.5455 92 65.258 48.2406 141.1366 118.5437
FCF Yield 4.25% 1.09% 1.53% 2.07% 0.71% 0.84%
EV / EBITDA 26.2562 112.5679 125.7889 128.7614 270.7 2,269.4385
P/S 6.4687 24.1289 18.4948 14.2044 38.1843 469.3531
P/B 7.5412 20.0028 16.631 10.5948 29.9129 387.3036

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 2.90B 2.44B 1.95B 1.58B 1.20B 836.03M
Cost of Goods and Services Sold 619.07M 472.01M 365.60M 281.12M 221.55M 178.81M
Research and Development Expense 525.14M 463.32M 411.79M 319.88M 226.14M 166.65M
Operating Income (Loss) 589.32M 427.17M 200.48M 113.65M 124.82M 144.21M
Income Tax Expense (Benefit) 215.45M 114.23M 89.06M 73.98M -15.73M -98.41M
Net Income (Loss) Attributable to Parent 443.30M 393.08M 178.94M 53.38M 137.76M 242.32M
Earnings Per Share, Basic $0.91 $0.80 $0.37 $0.11 $0.29 $0.52
Weighted Average Number of Shares Outstanding, Basic 488.28M 490.88M 489.26M 486.94M 476.85M 462.87M
Earnings Per Share, Diluted $0.90 $0.78 $0.36 $0.11 $0.28 $0.49
Weighted Average Number of Shares Outstanding, Diluted 493.55M 501.92M 500.18M 499.93M 498.54M 489.88M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 658.17M 1.37B 895.13M 1.03B 754.15M 437.35M
Assets, Current 5.26B 5.34B 4.31B 3.85B 3.09B 2.31B
Assets 6.15B 6.11B 4.89B 4.38B 3.58B 2.75B
Liabilities, Current 3.27B 2.87B 2.51B 2.03B 1.80B 1.47B
Liabilities 3.67B 3.16B 2.72B 2.27B 2.05B 1.74B
Stockholders' Equity Attributable to Parent 2.48B 2.95B 2.16B 2.12B 1.53B 1.01B

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 992.72M 739.46M 598.32M 548.73M 378.51M 405.07M
Payments to Acquire Property, Plant, and Equipment 197.01M 98.24M 46.79M 84.16M 54.80M 74.06M
Net Cash Provided by (Used in) Investing Activities -292.63M -157.51M -107.59M -304.37M -93.64M -143.27M
Payments for Repurchase of Common Stock 1.38B 234.78M 646.60M 0 0
Net Cash Provided by (Used in) Financing Activities -1.41B -107.61M -626.11M 31.99M 31.93M 44.68M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

Income Statement

26 concepts 3 units
Unit US$ · 20 concepts
Label Value Period
Revenue from Contract with Customer, Excluding Assessed Tax 2.90B 2025-01-01 → 2025-12-31
Sublease Income 0 2025-01-01 → 2025-12-31
Interest Income (Expense), Net 68.72M 2025-01-01 → 2025-12-31
Cost of Goods and Services Sold 619.07M 2025-01-01 → 2025-12-31
Costs and Expenses 2.31B 2025-01-01 → 2025-12-31
Research and Development Expense 525.14M 2025-01-01 → 2025-12-31
Depreciation, Depletion and Amortization, Nonproduction 96.00M 2025-01-01 → 2025-12-31
Impairment of Long-Lived Assets Held-for-use 0 2025-01-01 → 2025-12-31
Selling and Marketing Expense 644.30M 2025-01-01 → 2025-12-31
General and Administrative Expense 518.46M 2025-01-01 → 2025-12-31
Accounts Receivable, Credit Loss Expense (Reversal) 1.49M 2025-01-01 → 2025-12-31
Operating Income (Loss) 589.32M 2025-01-01 → 2025-12-31
Investment Income, Net 70.51M 2025-01-01 → 2025-12-31
Foreign Currency Transaction Gain (Loss), before Tax 717.00K 2025-01-01 → 2025-12-31
Nonoperating Income (Expense) 69.43M 2025-01-01 → 2025-12-31
InterestExpenseNonoperating 1.79M 2025-01-01 → 2025-12-31
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 658.75M 2025-01-01 → 2025-12-31
Income Tax Expense (Benefit) 215.45M 2025-01-01 → 2025-12-31
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 443.30M 2025-01-01 → 2025-12-31
Net Income (Loss) Attributable to Parent 443.30M 2025-01-01 → 2025-12-31
Unit shares · 4 concepts
Unit US$ / share · 2 concepts
Label Value Period
Earnings Per Share, Basic $0.91 2025-01-01 → 2025-12-31
Earnings Per Share, Diluted $0.90 2025-01-01 → 2025-12-31

Balance Sheet

34 concepts 3 units
Unit US$ · 29 concepts
Label Value Period
Cash and Cash Equivalents, at Carrying Value 658.17M as of 2025-12-31
Short-term Investments 644.88M as of 2025-12-31
Cash, Cash Equivalents, and Short-term Investments 1.30B as of 2025-12-31
Accounts Receivable, Allowance for Credit Loss, Current 12.20M as of 2025-12-31
Accounts Receivable, after Allowance for Credit Loss, Current 3.77B as of 2025-12-31
Debt Securities, Available-for-sale 644.88M as of 2025-12-31
Assets, Current 5.26B as of 2025-12-31
Operating Lease, Right-of-Use Asset 342.04M as of 2025-12-31
Capitalized Computer Software, Gross 34.51M as of 2025-12-31
Property, Plant and Equipment, Gross 659.03M as of 2025-12-31
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment 262.21M as of 2025-12-31
Property, Plant and Equipment, Net 396.82M as of 2025-12-31
Other Assets, Noncurrent 97.66M as of 2025-12-31
Deferred Income Tax Assets, Net 55.70M as of 2025-12-31
Operating Lease, Liability 436.33M as of 2025-12-31
Assets 6.15B as of 2025-12-31
Accounts Payable, Current 3.01B as of 2025-12-31
Accrued Liabilities, Current 181.99M as of 2025-12-31
Liabilities, Current 3.27B as of 2025-12-31
Other Liabilities, Noncurrent 42.86M as of 2025-12-31
Operating Lease, Liability, Noncurrent 359.98M as of 2025-12-31
Liabilities 3.67B as of 2025-12-31
Commitments and Contingencies 0 as of 2025-12-31
Preferred Stock, Value, Issued 0 as of 2025-12-31
Common Stock, Value, Issued 0 as of 2025-12-31
Additional Paid in Capital, Common Stock 3.08B as of 2025-12-31
Retained Earnings (Accumulated Deficit) -590.91M as of 2025-12-31
Stockholders' Equity Attributable to Parent 2.48B as of 2025-12-31
Liabilities and Equity 6.15B as of 2025-12-31
Unit shares · 3 concepts
Label Value Period
Preferred Stock, Shares Authorized 100.00M as of 2025-12-31
Preferred Stock, Shares Issued 0 as of 2025-12-31
Preferred Stock, Shares Outstanding 0 as of 2025-12-31
Unit US$ / share · 2 concepts
Label Value Period
Preferred Stock, Par or Stated Value Per Share $0.00 as of 2025-12-31
Common Stock, Par or Stated Value Per Share $0.00 as of 2025-12-31

Cash Flow Statement

30 concepts 1 unit
Unit US$ · 30 concepts
Label Value Period
Noncash or Part Noncash Acquisition, Other Assets Acquired 10.30M 2025-01-01 → 2025-12-31
Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities 6.93M 2025-01-01 → 2025-12-31
Depreciation, Depletion and Amortization 115.78M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Noncash Expense 490.63M 2025-01-01 → 2025-12-31
Operating Lease, Payments 79.36M 2025-01-01 → 2025-12-31
Interest Paid, Excluding Capitalized Interest, Operating Activities 993.00K 2025-01-01 → 2025-12-31
Deferred Income Tax Expense (Benefit) 172.71M 2025-01-01 → 2025-12-31
Deferred Income Taxes and Tax Credits 167.69M 2025-01-01 → 2025-12-31
IncomeTaxPaidFederalAfterRefundReceived 98.72M 2025-01-01 → 2025-12-31
IncomeTaxPaidForeignAfterRefundReceived 12.29M 2025-01-01 → 2025-12-31
Income Taxes Paid, Net 150.11M 2025-01-01 → 2025-12-31
Other Noncash Income (Expense) 19.24M 2025-01-01 → 2025-12-31
Increase (Decrease) in Accounts Receivable 432.72M 2025-01-01 → 2025-12-31
Capital Expenditures Incurred but Not yet Paid 104.50M 2025-01-01 → 2025-12-31
Increase (Decrease) in Prepaid Expense and Other Assets 76.59M 2025-01-01 → 2025-12-31
Increase (Decrease) in Accounts Payable 291.07M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Operating Activities 992.72M 2025-01-01 → 2025-12-31
Payments to Acquire Property, Plant, and Equipment 197.01M 2025-01-01 → 2025-12-31
Payments to Develop Software 12.75M 2025-01-01 → 2025-12-31
Payments to Acquire Investments 954.27M 2025-01-01 → 2025-12-31
Proceeds from Sale, Maturity and Collection of Investments 875.75M 2025-01-01 → 2025-12-31
Payments to Acquire Businesses, Net of Cash Acquired 4.35M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Investing Activities -292.63M 2025-01-01 → 2025-12-31
Proceeds from Stock Options Exercised 23.82M 2025-01-01 → 2025-12-31
Proceeds from Stock Plans 42.88M 2025-01-01 → 2025-12-31
Payments for Repurchase of Common Stock 1.38B 2025-01-01 → 2025-12-31
Payment, Tax Withholding, Share-based Payment Arrangement 97.65M 2025-01-01 → 2025-12-31
Net Cash Provided by (Used in) Financing Activities -1.41B 2025-01-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect -711.29M 2025-01-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations 658.17M as of 2025-12-31

Notes

90 concepts 5 units
Unit US$ · 70 concepts
Label Value Period
Current Federal Tax Expense (Benefit) 11.12M 2025-01-01 → 2025-12-31
Current State and Local Tax Expense (Benefit) 22.74M 2025-01-01 → 2025-12-31
Current Foreign Tax Expense (Benefit) 8.89M 2025-01-01 → 2025-12-31
Current Income Tax Expense (Benefit) 42.74M 2025-01-01 → 2025-12-31
Capitalized Computer Software, Accumulated Amortization 14.58M as of 2025-12-31
Capitalized Computer Software, Net 19.93M as of 2025-12-31
Deferred Federal Income Tax Expense (Benefit) 160.92M 2025-01-01 → 2025-12-31
Deferred State and Local Income Tax Expense (Benefit) 15.28M 2025-01-01 → 2025-12-31
Capitalized Computer Software, Amortization 15.00M 2025-01-01 → 2025-12-31
Capitalized Computer Software, Impairments 0 2025-01-01 → 2025-12-31
Deferred Foreign Income Tax Expense (Benefit) -3.49M 2025-01-01 → 2025-12-31
Operating Lease, Liability, Current 76.36M as of 2025-12-31
Prepaid Expense and Other Assets, Current 187.75M as of 2025-12-31
Share-based Payment Arrangement, Amount Capitalized 7.76M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Expense 490.63M 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount 138.34M 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount 30.22M 2025-01-01 → 2025-12-31
Share-based Payment Arrangement, Expense, Tax Benefit 9.00M 2025-01-01 → 2025-12-31
EffectiveIncomeTaxRateReconciliationCrossBorderTaxEffectAmount -515.00K 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount 17.78M 2025-01-01 → 2025-12-31
Interest Income (Expense), Nonoperating, Net 68.72M 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount 7.13M 2025-01-01 → 2025-12-31
Hosting Arrangement, Service Contract, Implementation Cost, Expense, Amortization 2.00M 2025-01-01 → 2025-12-31
Hosting Arrangement, Service Contract, Implementation Cost, Capitalized, before Accumulated Amortization 15.00M as of 2025-12-31
Hosting Arrangement, Service Contract, Implementation Cost, Capitalized, Accumulated Amortization 11.00M as of 2025-12-31
Hosting Arrangement, Service Contract, Implementation Cost, Impairment 0 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, Tax Contingency, Amount 4.79M 2025-01-01 → 2025-12-31
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount 0 2025-01-01 → 2025-12-31
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One 573.13M as of 2025-12-31
Deferred Tax Assets, Operating Loss Carryforwards 321.23M as of 2025-12-31
Deferred Tax Assets, Tax Credit Carryforwards, Research 27.76M as of 2025-12-31
Unrecorded Unconditional Purchase Obligation, to be Paid, Year One 226.73M as of 2025-12-31
Unrecorded Unconditional Purchase Obligation, to be Paid, Year Two 34.18M as of 2025-12-31
Unrecorded Unconditional Purchase Obligation, to be Paid, Year Three 4.94M as of 2025-12-31
Unrecorded Unconditional Purchase Obligation, to be Paid, Year Four 0 as of 2025-12-31
Unrecorded Unconditional Purchase Obligation, to be Paid, Year Five 0 as of 2025-12-31
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost 33.48M as of 2025-12-31
Unrecorded Unconditional Purchase Obligation 265.85M as of 2025-12-31
Operating Lease, Cost 70.57M 2025-01-01 → 2025-12-31
Short-term Lease, Cost 2.85M 2025-01-01 → 2025-12-31
Variable Lease, Cost 20.98M 2025-01-01 → 2025-12-31
Lease, Cost 94.40M 2025-01-01 → 2025-12-31
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 150.27M 2025-01-01 → 2025-12-31
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves 5.97M as of 2025-12-31
Accounts Receivable, Allowance for Credit Loss, Writeoff 532.00K 2025-01-01 → 2025-12-31
Deferred Tax Assets, Goodwill and Intangible Assets 139.82M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year One 90.75M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Two 85.10M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Three 127.87M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Four 118.98M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, Year Five 103.82M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid, after Year Five 268.68M as of 2025-12-31
Lessee, Operating Lease, Liability, to be Paid 795.19M as of 2025-12-31
Deferred Tax Assets, Other 8.22M as of 2025-12-31
Deferred Tax Assets, Valuation Allowance 475.39M as of 2025-12-31
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 67.88M as of 2025-12-31
Deferred Tax Assets, Net 55.70M as of 2025-12-31
Deferred Tax Liabilities, Property, Plant and Equipment 47.33M as of 2025-12-31
Deferred Tax Liabilities, Prepaid Expenses 1.47M as of 2025-12-31
Deferred Tax Liabilities, Leasing Arrangements 79.56M as of 2025-12-31
Unrecognized Tax Benefits 115.57M as of 2025-12-31
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions 3.16M 2025-01-01 → 2025-12-31
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions 504.00K 2025-01-01 → 2025-12-31
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions 5.92M 2025-01-01 → 2025-12-31
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities 0 2025-01-01 → 2025-12-31
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations 0 2025-01-01 → 2025-12-31
Unrecognized Tax Benefits that Would Impact Effective Tax Rate 33.00M as of 2025-12-31
Income (Loss) from Continuing Operations before Income Taxes, Domestic 677.72M 2025-01-01 → 2025-12-31
Income (Loss) from Continuing Operations before Income Taxes, Foreign -18.97M 2025-01-01 → 2025-12-31
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 498.38M 2025-01-01 → 2025-12-31
Unit Segment · 2 concepts
Label Value Period
Number of Operating Segments 1 2025-01-01 → 2025-12-31
Number of Reportable Segments 1 2025-01-01 → 2025-12-31

Other

4 concepts 1 unit
Unit US$ · 4 concepts
Label Value Period
Stock Issued During Period, Value, Acquisitions 10.30M 2025-01-01 → 2025-12-31
Stock Issued During Period, Value, Employee Stock Purchase Plan 44.97M 2025-01-01 → 2025-12-31
Stock Issued During Period, Value, Stock Options Exercised 24.41M 2025-01-01 → 2025-12-31
Stock Repurchased and Retired During Period, Value 1.39B 2025-01-01 → 2025-12-31

Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (TTD CIK 0001671933), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.