(TTD) Trade Desk - Overview
Sector: Communication Services | Industry: Advertising Agencies | Exchange: NASDAQ (USA) | Market Cap: 10.083m USD | Total Return: -71.2% in 12m
Avg Turnover: 400M
EPS Trend: 81.7%
Qual. Beats: 3
Rev. Trend: 99.5%
Qual. Beats: 0
Warnings
Fakeout Below Avwap Earnings
Tailwinds
Garp
The Trade Desk, Inc. (TTD) is a global technology company providing a self-service cloud-based platform for automated digital advertising. Its software allows clients to manage omnichannel campaigns across Connected TV (CTV), mobile, audio, and digital-out-of-home formats.
Operating within the demand-side platform (DSP) sector, the company utilizes real-time bidding to purchase ad inventory for agencies and brands. Unlike walled gardens, this programmatic model focuses on the open internet, offering transparency in data and pricing across diverse inventory sources.
Investors can further evaluate these market dynamics and valuation metrics at ValueRay.
- Connected TV inventory expansion drives significant high-margin programmatic revenue growth
- Unified ID 2.0 adoption strengthens first-party data targeting amid cookie deprecation
- Retail media partnerships accelerate growth through high-intent shopper data integration
- International market penetration increases total addressable market beyond North American core
- Macroeconomic advertising budget shifts impact overall platform spend and take rates
| Net Income: 432.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA 2.57 > 1.0 |
| NWC/Revenue: 66.39% < 20% (prev 84.62%; Δ -18.22% < -1%) |
| CFO/TA 0.19 > 3% & CFO 1.09b > Net Income 432.6m |
| Net Debt (-982.3m) to EBITDA (724.7m): -1.36 < 3 |
| Current Ratio: 1.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (476.9m) vs 12m ago -5.18% < -2% |
| Gross Margin: 77.83% > 18% (prev 0.80%; Δ 7.70k% > 0.5%) |
| Asset Turnover: 51.91% > 50% (prev 45.04%; Δ 6.87% > 0%) |
| Interest Coverage Ratio: 825.1 > 6 (EBITDA TTM 724.7m / Interest Expense TTM 729k) |
| A: 0.34 (Total Current Assets 4.86b - Total Current Liabilities 2.89b) / Total Assets 5.73b |
| B: -0.13 (Retained Earnings -725.0m / Total Assets 5.73b) |
| C: 0.11 (EBIT TTM 601.5m / Avg Total Assets 5.72b) |
| D: -0.22 (Book Value of Equity -725.0m / Total Liabilities 3.28b) |
| Altman-Z'' = 2.32 = BBB |
| DSRI: 0.94 (Receivables 3.32b/3.05b, Revenue 2.97b/2.57b) |
| GMI: 1.03 (GM 77.83% / 80.11%) |
| AQI: 0.49 (AQ_t 0.03 / AQ_t-1 0.06) |
| SGI: 1.16 (Revenue 2.97b / 2.57b) |
| TATA: -0.12 (NI 432.6m - CFO 1.09b) / TA 5.73b) |
| Beneish M = -3.36 (Cap -4..+1) = AA |
As of May 31, 2026, the stock is trading at USD 21.56 with a total of 48,348,986 shares traded.
Over the past week, the price has changed by +1.32%,
over one month by -11.53%,
over three months by -9.49% and
over the past year by -71.21%.
Trade Desk has received a consensus analysts rating of 4.15. Therefore, it is recommended to buy TTD.
- StrongBuy: 23
- Buy: 5
- Hold: 11
- Sell: 0
- StrongSell: 2
| Analysts Target Price | 25.8 | 19.7% |
P/E Trailing = 24.3727
P/E Forward = 20.0803
P/S = 3.3959
P/B = 4.271
P/EG = 1.0614
Revenue TTM = 2.97b USD
EBIT TTM = 601.5m USD
EBITDA TTM = 724.7m USD
Long Term Debt = 346.1m USD (estimated: total debt 423.6m - short term 77.5m)
Short Term Debt = 77.5m USD (from shortTermDebt, last quarter)
Debt = 423.6m USD (from shortLongTermDebtTotal, last quarter) (leases 423.6m already included)
Net Debt = -982.3m USD (calculated: Debt 423.6m - CCE 1.41b)
Enterprise Value = 9.10b USD (10.1b + Debt 423.6m - CCE 1.41b)
Interest Coverage Ratio = 825.1 (Ebit TTM 601.5m / Interest Expense TTM 729k)
EV/FCF = 10.88x (Enterprise Value 9.10b / FCF TTM 836.7m)
FCF Yield = 9.19% (FCF TTM 836.7m / Enterprise Value 9.10b)
FCF Margin = 28.18% (FCF TTM 836.7m / Revenue TTM 2.97b)
Net Margin = 14.57% (Net Income TTM 432.6m / Revenue TTM 2.97b)
Gross Margin = 77.83% ((Revenue TTM 2.97b - Cost of Revenue TTM 658.2m) / Revenue TTM)
Gross Margin QoQ = 73.58% (prev 80.74%)
Tobins Q-Ratio = 1.59 (Enterprise Value 9.10b / Total Assets 5.73b)
Interest Expense / Debt = 0.17% (Interest Expense 729k / Debt 423.6m)
Taxrate = 49.34% (39.0m / 79.0m)
NOPAT = 304.7m (EBIT 601.5m * (1 - 49.34%))
Current Ratio = 1.68 (Total Current Assets 4.86b / Total Current Liabilities 2.89b)
Debt / Equity = 0.17 (Debt 423.6m / totalStockholderEquity, last quarter 2.45b)
Debt / EBITDA = -1.36 (Net Debt -982.3m / EBITDA 724.7m)
Debt / FCF = -1.17 (Net Debt -982.3m / FCF TTM 836.7m)
Total Stockholder Equity = 2.56b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.56% (Net Income 432.6m / Total Assets 5.73b)
RoE = 13.18% (Net Income TTM 432.6m / Total Stockholder Equity 3.28b)
RoCE = 16.57% (EBIT 601.5m / Capital Employed (Equity 3.28b + L.T.Debt 346.1m))
RoIC = 11.31% (NOPAT 304.7m / Invested Capital 2.69b)
WACC = 11.19% (E(10.1b)/V(10.5b) * Re(11.66%) + D(423.6m)/V(10.5b) * Rd(0.17%) * (1-Tc(0.49)))
Discount Rate = 11.66% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -42.22 | Cagr: -2.05%
[DCF] Terminal Value 69.34% ; FCFF base≈776.3m ; Y1≈889.9m ; Y5≈1.31b
[DCF] Fair Price = 32.98 (EV 13.1b - Net Debt -982.3m = Equity 14.1b / Shares 427.0m; r=11.19% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 81.70 | EPS CAGR: 13.49% | SUE: 1.98 | # QB: 3
Revenue Correlation: 99.54 | Revenue CAGR: 22.41% | SUE: 0.62 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.40 | Chg30d=-13.24% | Revisions=-82% | Analysts=21
EPS next Quarter (2026-09-30): EPS=0.50 | Chg30d=-9.37% | Revisions=-71% | Analysts=20
EPS current Year (2026-12-31): EPS=1.86 | Chg30d=-10.37% | Revisions=-68% | GrowthEPS=+4.8% | GrowthRev=+9.9%
EPS next Year (2027-12-31): EPS=2.16 | Chg30d=-9.68% | Revisions=-76% | GrowthEPS=+16.6% | GrowthRev=+10.6%
[Analyst] Revisions Ratio: -82%