Cash flow The Trade Desk, Inc.

Stocks

TTD

US88339J1051

Software

Market Closed - Nasdaq Other stock markets 21:00:00 10/07/2026 BST			Pre-market 11:03:20
19.53 ^USD	-1.11%		19.74	+1.10%

07-08	HSBC Upgrades Trade Desk to Hold From Reduce	MT
06-30	AI stocks are ending the quarter with a shrug

566cc1e9d03a7e9378c.Eu8KAGrVUATC_ww-Ga-dsOA29l4k_lY-Fa2vymkXJso.Uao-SyfmNnTvjEhMYPD3goJUwWl-mQRIVt_fgh8gEv55qGBlGJ0kT5u7VQ

Published financial data: THE TRADE DESK, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1.2B	1.58B	1.95B	2.44B	2.9B
Total Revenues	1.2B	1.58B	1.95B	2.44B	2.9B
Cost of Goods Sold, Total	222M	281M	366M	472M	619M
Gross Profit	975M	1.3B	1.58B	1.97B	2.28B
Selling General & Admin Expenses, Total	624M	863M	968M	1.08B	1.16B
R&D Expenses	226M	320M	412M	463M	525M
Other Operating Expenses, Total	850M	1.18B	1.38B	1.55B	1.69B
Operating Income	125M	114M	200M	427M	589M
Interest Expense, Total	-1.03M	-	-	-1.51M	-1.79M
Interest And Investment Income	-	12.76M	68.51M	80.36M	70.51M
Net Interest Expenses	-1.03M	12.76M	68.51M	78.84M	68.72M
Currency Exchange Gains (Loss)	-1.75M	961K	-993K	1.29M	717K
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	122M	127M	268M	507M	659M
EBT, Incl. Unusual Items	122M	127M	268M	507M	659M
Income Tax Expense	-15.73M	73.98M	89.06M	114M	215M
Earnings From Continuing Operations	138M	53.38M	179M	393M	443M
Net Income to Company	138M	53.38M	179M	393M	443M
Net Income - (IS)	138M	53.38M	179M	393M	443M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	138M	53.38M	179M	393M	443M
Net Income to Common Excl. Extra Items	138M	53.38M	179M	393M	443M
Per Share Items
Net EPS - Basic	0.29	0.11	0.37	0.8	0.91
Basic EPS - Continuing Operations	0.29	0.11	0.37	0.8	0.91
Basic Weighted Average Shares Outstanding	477M	487M	489M	491M	488M
Net EPS - Diluted	0.28	0.11	0.36	0.78	0.9
Diluted EPS - Continuing Operations	0.28	0.11	0.36	0.78	0.9
Diluted Weighted Average Shares Outstanding	499M	500M	500M	502M	494M
Normalized Basic EPS	0.16	0.16	0.34	0.65	0.84
Normalized Diluted EPS	0.15	0.16	0.33	0.63	0.83
American Depositary Receipts Ratio (ADR)	0.01	0.01	0.01	0.01	0.01
Supplemental Items
EBITDA	162M	161M	267M	499M	690M
EBITA	125M	114M	200M	427M	589M
EBIT	125M	114M	200M	427M	589M
EBITDAR	218M	221M	328M	574M	785M
Effective Tax Rate - (Ratio)	-12.89	58.09	33.23	22.52	32.71
Current Domestic Taxes	-85K	96.7M	145M	181M	33.86M
Current Foreign Taxes	2.44M	3.07M	5M	8.77M	8.89M
Total Current Taxes	2.35M	99.77M	150M	190M	42.74M
Deferred Domestic Taxes	-18.09M	-25.84M	-59.66M	-72.31M	176M
Deferred Foreign Taxes	18K	61K	-1.16M	-3.06M	-3.49M
Total Deferred Taxes	-18.08M	-25.78M	-60.82M	-75.36M	173M
Normalized Net Income	76.27M	79.61M	167M	317M	412M
Supplemental Operating Expense Items
Selling and Marketing Expenses	249M	338M	448M	547M	644M
General and Administrative Expenses	375M	525M	520M	536M	518M
Research And Development Expense From Footnotes	231M	327M	426M	479M	540M
Net Rental Expense, Total	55.78M	60.24M	61.46M	75.39M	94.4M
Imputed Operating Lease Interest Expense	1.59M	-	-	3.33M	3.61M
Imputed Operating Lease Depreciation	54.18M	-	-	72.06M	90.79M
Stock-Based Comp., COGS (Total)	15.91M	18.28M	21.05M	29.31M	34.48M
Stock-Based Comp., R&D Exp. (Total)	57.79M	94.82M	121M	138M	163M
Stock-Based Comp., S&M Exp. (Total)	50.67M	64.44M	75.92M	99.14M	113M
Stock-Based Comp., G&A Exp. (Total)	213M	321M	274M	228M	180M
Total Stock-Based Compensation	337M	499M	492M	495M	491M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	754M	1.03B	895M	1.37B	658M
Short Term Investments	205M	416M	485M	552M	645M
Total Cash And Short Term Investments	959M	1.45B	1.38B	1.92B	1.3B
Accounts Receivable, Total	2.02B	2.35B	2.87B	3.33B	3.77B
Total Receivables	2.02B	2.35B	2.87B	3.33B	3.77B
Prepaid Expenses	112M	51.84M	63.35M	84.63M	188M
Total Current Assets	3.09B	3.85B	4.31B	5.34B	5.26B
Gross Property Plant And Equipment	439M	500M	518M	688M	1B
Accumulated Depreciation	-68.89M	-106M	-159M	-215M	-262M
Net Property Plant And Equipment	370M	394M	359M	473M	739M
Other Intangibles, Total	14.33M	18.54M	16.9M	14.62M	19.93M
Deferred Tax Assets Long-Term	68.24M	94.03M	155M	230M	55.7M
Other Long-Term Assets, Total	33.17M	28.34M	43.83M	57.56M	77.73M
Total Assets	3.58B	4.38B	4.89B	6.11B	6.15B
Liabilities
Accounts Payable, Total	1.66B	1.87B	2.32B	2.63B	3.01B
Accrued Expenses, Total	101M	105M	138M	178M	182M
Short-term Borrowings	-	-	-	-	-
Current Portion of Leases	46.15M	52.43M	55.52M	64.49M	76.36M
Total Current Liabilities	1.8B	2.03B	2.51B	2.87B	3.27B
Long-Term Debt	-	-	-	-	-
Long-Term Leases	238M	209M	180M	248M	360M
Other Non Current Liabilities	8.28M	27.49M	33.26M	41.62M	42.86M
Total Liabilities	2.05B	2.27B	2.72B	3.16B	3.67B
Additional Paid In Capital	915M	1.45B	1.97B	2.59B	3.08B
Retained Earnings	612M	666M	197M	354M	-591M
Total Common Equity	1.53B	2.12B	2.16B	2.95B	2.48B
Total Equity	1.53B	2.12B	2.16B	2.95B	2.48B
Total Liabilities And Equity	3.58B	4.38B	4.89B	6.11B	6.15B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	485M	491M	489M	496M	476M
ECS Total Common Shares Outstanding	483M	490M	489M	496M	476M
Book Value / Share	3.16	4.31	4.43	5.94	5.22
Tangible Book Value	1.51B	2.1B	2.15B	2.93B	2.46B
Tangible Book Value Per Share	3.13	4.28	4.39	5.92	5.18
Total Debt	285M	261M	236M	312M	436M
Net Debt	-674M	-1.19B	-1.14B	-1.61B	-867M
Debt Equivalent Oper. Leases	446M	482M	492M	603M	755M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	75.74M	137M	171M	219M	321M
Full Time Employees	1.97K	2.77K	3.12K	3.52K	3.84K
Accumulated Allowance for Doubtful Accounts (Supple)	7.37M	10.48M	12.83M	11.24M	12.2M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	138M	53.38M	179M	393M	443M
Depreciation & Amortization - CF	37.52M	47.42M	66.42M	71.49M	101M
Depreciation & Amortization, Total	37.52M	47.42M	66.42M	71.49M	101M
Amortization of Deferred Charges, Total - (CF)	4.7M	7M	14M	16M	15M
Stock-Based Compensation (CF)	337M	499M	492M	495M	491M
Provision and Write-off of Bad Debts	1.46M	3.2M	2.96M	853K	-
Other Operating Activities, Total	29.34M	33.23M	-33.02M	-27.38M	218M
Change In Accounts Receivable	-444M	-292M	-554M	-474M	-433M
Change In Accounts Payable	309M	187M	475M	299M	291M
Change in Other Net Operating Assets	-34.75M	10.48M	-44.05M	-33.97M	-133M
Cash from Operations	379M	549M	598M	739M	993M
Capital Expenditure	-54.8M	-84.16M	-46.79M	-98.24M	-197M
Cash Acquisitions	-13.26M	-	-	-	-4.35M
Sale (Purchase) of Intangible assets	-5.17M	-7.72M	-8.23M	-8.82M	-12.75M
Investment in Marketable and Equity Securities, Total	-20.4M	-212M	-52.57M	-50.45M	-78.52M
Cash from Investing	-93.64M	-304M	-108M	-158M	-293M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-	-	-
Issuance of Common Stock	90.7M	80.59M	99.01M	266M	66.7M
Repurchase of Common Stock	-56.86M	-48.6M	-725M	-374M	-1.48B
Issuance of Preferred Stock	-	-	-	-	-
Repurchase of Preferred Stock	-	-	-	-	-
Other Financing Activities, Total	-1.92M	-	-	-	-
Cash from Financing	31.93M	31.99M	-626M	-108M	-1.41B
Net Change in Cash	317M	276M	-135M	474M	-711M
Supplemental Items
Cash Interest Paid	518K	995K	967K	986K	993K
Cash Income Tax Paid (Refund)	3.61M	4.21M	152M	159M	150M
Levered Free Cash Flow	271M	486M	586M	614M	602M
Unlevered Free Cash Flow	271M	486M	586M	614M	603M
Change In Net Working Capital	126M	46.42M	56.21M	128M	162M
Net Debt Issued / Repaid	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	2.46	1.79	2.7	4.85	6.01
Return on Total Capital	5	3.39	5.25	9.43	11.92
Return On Equity %	10.85	2.93	8.36	15.37	16.32
Return on Common Equity	10.85	2.93	8.36	15.37	16.32
Margin Analysis
Gross Profit Margin %	81.48	82.18	81.21	80.69	78.63
SG&A Margin	52.15	54.71	49.75	44.27	40.15
EBITDA Margin %	13.57	10.21	13.71	20.4	23.83
EBITA Margin %	10.43	7.2	10.3	17.47	20.35
EBIT Margin %	10.43	7.2	10.3	17.47	20.35
Income From Continuing Operations Margin %	11.51	3.38	9.19	16.08	15.31
Net Income Margin %	11.51	3.38	9.19	16.08	15.31
Net Avail. For Common Margin %	11.51	3.38	9.19	16.08	15.31
Normalized Net Income Margin	6.37	5.05	8.61	12.97	14.22
Levered Free Cash Flow Margin	22.63	30.79	30.12	25.09	20.77
Unlevered Free Cash Flow Margin	22.68	30.79	30.12	25.13	20.81
Asset Turnover
Asset Turnover	0.38	0.4	0.42	0.44	0.47
Fixed Assets Turnover	3.26	4.13	5.17	5.88	4.78
Receivables Turnover (Average Receivables)	0.66	0.72	0.75	0.79	0.82
Short Term Liquidity
Current Ratio	1.71	1.9	1.72	1.86	1.61
Quick Ratio	1.65	1.87	1.69	1.83	1.55
Operating Cash Flow to Current Liabilities	0.21	0.27	0.24	0.26	0.3
Days Sales Outstanding (Average Receivables)	549.85	505.23	489.28	464.13	447.42
Average Days Payable Outstanding	2.47K	2.29K	2.09K	1.92K	1.66K
Long Term Solvency
Total Debt/Equity	18.63	12.34	10.9	10.59	17.56
Total Debt / Total Capital	15.71	10.98	9.83	9.57	14.94
LT Debt/Equity	15.61	9.86	8.33	8.4	14.49
Long-Term Debt / Total Capital	13.16	8.78	7.52	7.6	12.32
Total Liabilities / Total Assets	57.31	51.71	55.73	51.75	59.62
EBIT / Interest Expense	121.18	-	-	282.14	329.23
EBITDA / Interest Expense	211.76	-	-	379.16	438.27
(EBITDA - Capex) / Interest Expense	158.55	-	-	314.27	328.21
Total Debt / EBITDA	1.3	1.18	0.72	0.54	0.56
Net Debt / EBITDA	-3.09	-5.36	-3.49	-2.8	-1.1
Total Debt / (EBITDA - Capex)	1.74	1.9	0.84	0.66	0.74
Net Debt / (EBITDA - Capex)	-4.13	-8.64	-4.06	-3.38	-1.48
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	43.11	31.87	23.34	25.63	18.47
Gross Profit, 1 Yr. Growth %	48.34	33	21.89	24.82	15.43
EBITDA, 1 Yr. Growth %	-2.82	-0.59	65.69	86.83	38.39
EBITA, 1 Yr. Growth %	-13.45	-8.94	76.4	113.07	37.96
EBIT, 1 Yr. Growth %	-13.45	-8.94	76.4	113.07	37.96
Earnings From Cont. Operations, 1 Yr. Growth %	-43.15	-61.25	235.19	119.67	12.78
Net Income, 1 Yr. Growth %	-43.15	-61.25	235.19	119.67	12.78
Normalized Net Income, 1 Yr. Growth %	-15.2	4.37	110.41	89.3	29.85
Diluted EPS Before Extra, 1 Yr. Growth %	-42.86	-60.84	228.37	116.67	15.38
Accounts Receivable, 1 Yr. Growth %	27.56	16.16	22.29	16.03	13.21
Net Property, Plant and Equip., 1 Yr. Growth %	1.63	6.54	-8.88	31.72	56.18
Total Assets, 1 Yr. Growth %	29.91	22.46	11.6	25.02	0.68
Tangible Book Value, 1 Yr. Growth %	51.05	38.59	2.41	36.66	-16.02
Common Equity, 1 Yr. Growth %	50.75	38.5	2.31	36.27	-15.76
Cash From Operations, 1 Yr. Growth %	-6.56	44.97	9.04	23.59	34.25
Capital Expenditures, 1 Yr. Growth %	-26	53.57	-44.4	109.96	100.54
Levered Free Cash Flow, 1 Yr. Growth %	50.94	79.41	20.65	4.86	-1.95
Unlevered Free Cash Flow, 1 Yr. Growth %	51.3	78.98	20.65	4.84	-1.92
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	34.53	37.38	27.54	24.48	21.99
Gross Profit, 2 Yr. CAGR %	38.96	40.46	27.33	23.35	20.03
EBITDA, 2 Yr. CAGR %	12.46	-1.74	28.34	75.95	60.8
EBITA, 2 Yr. CAGR %	5.47	-11.22	26.74	93.87	71.45
EBIT, 2 Yr. CAGR %	5.47	-11.22	26.74	93.87	71.45
Earnings From Cont. Operations, 2 Yr. CAGR %	12.78	-53.06	13.97	171.35	57.4
Net Income, 2 Yr. CAGR %	12.78	-53.06	13.97	171.35	57.4
Normalized Net Income, 2 Yr. CAGR %	2.47	-5.92	48.19	99.57	56.78
Diluted EPS Before Extra, 2 Yr. CAGR %	10.34	-52.7	13.39	166.73	58.11
Accounts Receivable, 2 Yr. CAGR %	31.62	21.73	19.18	19.12	14.61
Net Property, Plant and Equip., 2 Yr. CAGR %	24.82	4.06	-1.47	9.56	43.43
Total Assets, 2 Yr. CAGR %	43.85	26.13	16.9	18.12	12.19
Tangible Book Value, 2 Yr. CAGR %	58.34	44.68	19.13	18.3	7.13
Common Equity, 2 Yr. CAGR %	57.91	44.5	19.04	18.08	7.14
Cash From Operations, 2 Yr. CAGR %	150.74	16.39	25.73	16.08	28.81
Capital Expenditures, 2 Yr. CAGR %	23.91	6.6	-7.6	8.04	105.2
Levered Free Cash Flow, 2 Yr. CAGR %	391.73	64.56	47.12	12.67	1.4
Unlevered Free Cash Flow, 2 Yr. CAGR %	392.31	64.56	46.95	12.47	1.4
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	35.84	33.64	32.53	26.9	22.44
Gross Profit, 3 Yr. CAGR %	38.98	36.95	33.98	26.49	20.65
EBITDA, 3 Yr. CAGR %	11.87	7.86	16.95	45.46	62.41
EBITA, 3 Yr. CAGR %	5.16	0.43	11.61	50.7	73.08
EBIT, 3 Yr. CAGR %	5.16	0.43	11.61	50.7	73.08
Earnings From Cont. Operations, 3 Yr. CAGR %	16.05	-21.01	-9.61	41.83	102.5
Net Income, 3 Yr. CAGR %	16.05	-21.01	-9.61	41.83	102.5
Normalized Net Income, 3 Yr. CAGR %	4.89	3.1	23.03	60.79	72.94
Diluted EPS Before Extra, 3 Yr. CAGR %	13.4	-21.88	-9.77	40.71	101.73
Accounts Receivable, 3 Yr. CAGR %	34.27	26.25	21.91	18.12	17.11
Net Property, Plant and Equip., 3 Yr. CAGR %	123.7	18.4	-0.45	8.54	23.3
Total Assets, 3 Yr. CAGR %	47.36	36.33	21.09	19.55	11.99
Tangible Book Value, 3 Yr. CAGR %	57.61	51.46	28.94	24.71	5.53
Common Equity, 3 Yr. CAGR %	57.01	51.15	28.79	24.52	5.51
Cash From Operations, 3 Yr. CAGR %	63.5	108.89	13.89	25.01	21.85
Capital Expenditures, 3 Yr. CAGR %	40.42	33.1	-14.19	21.48	32.78
Levered Free Cash Flow, 3 Yr. CAGR %	73.38	251.37	48.38	31.34	7.57
Unlevered Free Cash Flow, 3 Yr. CAGR %	73.52	251.37	48.38	31.31	7.45
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	42.6	38.62	32.46	29.9	28.21
Gross Profit, 5 Yr. CAGR %	43	39.9	34.19	31.33	28.21
EBITDA, 5 Yr. CAGR %	22.22	16.62	18.15	31.18	32.84
EBITA, 5 Yr. CAGR %	16.76	10.38	13.31	30.65	32.52
EBIT, 5 Yr. CAGR %	16.76	10.38	13.31	30.65	32.52
Earnings From Cont. Operations, 5 Yr. CAGR %	46.4	1	15.21	29.41	12.84
Net Income, 5 Yr. CAGR %	46.4	1	15.21	29.41	12.84
Normalized Net Income, 5 Yr. CAGR %	22.73	14.89	20.44	34.28	35.56
Diluted EPS Before Extra, 5 Yr. CAGR %	13.88	-0.95	13.4	27.67	12.93
Accounts Receivable, 5 Yr. CAGR %	39.89	31.38	28.02	23.35	18.94
Net Property, Plant and Equip., 5 Yr. CAGR %	92.82	87.95	61.15	14.78	15.21
Total Assets, 5 Yr. CAGR %	46.09	40.6	34.33	28.73	17.45
Tangible Book Value, 5 Yr. CAGR %	56.59	54.19	40.91	37.21	19.73
Common Equity, 5 Yr. CAGR %	56.18	53.83	40.55	36.94	19.65
Cash From Operations, 5 Yr. CAGR %	38.22	77.41	47.19	65.14	19.64
Capital Expenditures, 5 Yr. CAGR %	51.42	52.78	18.77	22.44	21.61
Levered Free Cash Flow, 5 Yr. CAGR %	30.46	147	62.36	122.71	27.38
Unlevered Free Cash Flow, 5 Yr. CAGR %	29.83	138.12	62.36	122.78	27.42