Trade Desk (The)
TTD stock analysis · Communication Services · Advertising
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Reviewed economically equivalent common shares; unlisted/other class priced at the displayed class price (proxy). Shares measured 2026-06-30. Approximate; share and price dates can differ. Balance sheet issued and outstanding (tables in thousands) though tag is SharesIssued. Sum469641000 reconciles Jun30 equity roll-forward. EPS note confirms same liquidation/dividend rights; stock note says same rights/preferences except voting.
View share-count filing ↗DCF value
Equity cash-flow scenario · Reviewed issuer-equivalent shares at 2026-06-30 · 42.3% versus input cap
How this is calculated ↗Reverse DCF
Annual basis · read assumptions below
How this is calculated ↗Relative valuation
13 sector peers · median 13.5×
How this is calculated ↗Historical multiples
Requires three annual historical market caps and eligible filed earnings.
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Requires two adjacent years of positive average capital, equity, cash, debt and operating income.
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Annual basis · read assumptions below
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | $32.28 | $35.22 | $38.38 |
| 10.0% | $23.65 | $25.73 | $27.97 |
| 12.0% | $18.66 | $20.25 | $21.95 |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 2.9B | 443.3M | 992.7M | 197M | 6.2B |
| 2024-12-31 | 2.4B | 393.1M | 739.5M | 98.2M | 6.1B |
| 2023-12-31 | 1.9B | 178.9M | 598.3M | 46.8M | 4.9B |
| 2022-12-31 | 1.6B | 53.4M | 548.7M | 84.2M | 4.4B |
| 2021-12-31 | 1.2B | 137.8M | 378.5M | 54.8M | 3.6B |
| 2020-12-31 | 836M | 242.3M | 405.1M | 74.1M | 2.8B |
| 2019-12-31 | 661.1M | 108.3M | 60.2M | 35.7M | 1.7B |
| 2018-12-31 | 477.3M | 88.1M | 86.6M | 19.8M | 1.1B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 2.9B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-27 |
| netIncome | 443.3M | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-27 |
| Parent/common earnings proxy | 443.3M | NetIncomeLoss | 2026-02-27 |
| cfo | 992.7M | NetCashProvidedByUsedInOperatingActivities | 2026-02-27 |
| capex | 197M | PaymentsToAcquirePropertyPlantAndEquipment | 2026-02-27 |
| operatingIncome | 589.3M | OperatingIncomeLoss | 2026-02-27 |
| assets | 6.2B | Assets | 2026-02-27 |
| equity | 2.5B | StockholdersEquity Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-27 |
| Parent book equity proxy | 2.5B | StockholdersEquity | 2026-02-27 |
| debt | — | Not reported under a supported tag | — |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 658.2M | CashAndCashEquivalentsAtCarryingValue | 2026-02-27 |
| shares | 493.6M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-27 |
| dividends | 0 | Reviewed manual correction This issuer explicitly confirms in its annual filing that it has never declared or paid cash dividends on its common/capital stock. Reviewed cash-dividend zero, bounded to fiscal period ending 2025-12-31. The exact statement and source filing are retained in the evidence record. This is explicit filing evidence, not an assumption from an absent cash-flow line. Surrounding source passage reviewed as the registrant’s own common-stock policy, not a subsidiary or predecessor statement. | 2026-02-27 |
| buybacks | 1.4B | PaymentsForRepurchaseOfCommonStock | 2026-02-27 |
| issuance | 66.7M | Reviewed manual correction Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from exercise of stock options: 23818000 USD [us-gaap:ProceedsFromStockOptionsExercised]; Proceeds from employee stock purchase plan: 42881000 USD [us-gaap:ProceedsFromStockPlans]. All 4 financing lines reconcile exactly to reported financing cash flow -1411377000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction. | 2026-02-27 |