TTDNasdaqServices-Computer Programming, Data Processing, Etc.Fiscal year ends December 31
Trade Desk, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$12.26+0.03 (+0.25%)
Close on Oct 19, 2026
- Market cap
- $5.76B
- P/E (TTM)
- 14.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
78.6%+0.0 pts over 5 years
Operating margin
20.3%+3.1 pts over 5 years
Net margin
15.3%−13.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +18.5% | +22.4% | +28.2% | +38.2% | |
| Gross profit | +15.4% | +20.6% | +28.2% | +38.0% | |
| Operating income | +38.0% | +73.1% | +32.5% | +31.5% | |
| Net income | +12.8% | +102.5% | +12.8% | +39.5% | |
| EPS, diluted | +15.4% | +101.5% | +12.9% | +36.9% | |
| Free cash flow | +24.1% | +19.6% | +19.2% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 22.9% | 29.8% | 16.3% | |
| Return on assets | 5.5% | 10.8% | 7.2% | |
| Current ratio | 1.50 | 1.57 | 1.61 | |
| Interest coverage | 18.7× | – | 329.2× | |
| Capex to revenue | 3.4% | 8.9% | 6.8% | |
| Diluted shares | 183M | 490M | 494M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Trade Desk generated $3.26B from operations and spent $2.74B on capital expenditure, dividends and share buybacks. 18% of that went back into the business.
Generated
$3.26B
Used
$2.74B
Capital expenditure$481.00M18%Dividends$00%Share buybacks$2.26B82%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin15.3%
×Asset turnover0.47×
×Equity multiplier2.26×
=Return on equity, FY202516.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 15.3% | 0.47× | 2.26× | 16.3% |
| FY2024 | 16.1% | 0.44× | 2.15× | 15.4% |
| FY2023 | 9.2% | 0.42× | 2.17× | 8.4% |
| FY2022 | 3.4% | 0.40× | 2.18× | 2.9% |
| FY2021 | 11.5% | 0.38× | 2.49× | 10.8% |
| FY2020 | 29.0% | 0.37× | 2.76× | 29.8% |
| FY2019 | 16.4% | 0.46× | 2.83× | 21.5% |
| FY2018 | 18.5% | 0.50× | 2.99× | 27.5% |
| FY2017 | 16.5% | 0.46× | 3.26× | 24.8% |
| FY2016 | 10.1% | 0.54× | 4.19× | 22.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$443.30M
- Cash generatingOperating cash flow above zero$992.72M
- Return on assets improvedROA up on the prior year8.0% → 7.3%
- Earnings backed by cashOperating cash flow above net income$992.72M vs $443.30M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.86 → 1.61
- No dilutionShare count did not rise502M → 494M
- Gross margin improvedGross margin up on the prior year80.69% → 78.63%
- More efficientAsset turnover rose0.50 → 0.47