The Trade Desk, Inc. TTD

Business rating

Price rating

$43.93Price on 18 Sept

$49.52 +12.7%Fair value estimate

Cash flow statement

currency values in millions of USD

Solid cash generation and liquidity, but high SBC and occasional buybacks > FCF plus working-capital volatility justify a cautious, watchful stance.

Fiscal Year	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period Ending	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31
Net Income	393.1	178.9	53.4	137.8	242.3	108.3	88.1	50.8	20.5	15.9
Depreciation & Amortization	87.5	80.4	54.4	42.2	28.6	21.7	11.8	7.2	3.8	1.8
Stock-Based Compensation	494.7	491.6	498.6	337.4	111.8	80.8	42.2	21.3	5.1	0.4
Change in Working Capital	-209.3	-122.6	-94.2	-169.7	15	-162.7	-55.5	-49.5	33.8	-61.7
Accounts Receivables	-474.2	-554	-291.7	-444.3	-418.1	-331.4	-239.9	-224.6	-187.7	-114.2
Inventory	0	0	0	0	0	0	0	0	0	0
Accounts Payables	298.9	475.5	187.1	309.4	481.3	191.8	177.7	171.8	209.5	50
Other Working Capital	-34	-44	10.5	-34.7	-48.3	-23.1	6.7	3.3	12	2.4
Other Non-Cash Items	50.4	31.5	47.9	47.6	38.6	22.7	5	3	12.5	6.7
Operating Cash Flow	739.5	598.3	548.7	378.5	405.1	60.2	86.6	31.2	75	-36.6
Investments in PP&E	-98.2	-46.8	-84.2	-54.8	-74.1	-35.7	-19.8	-10.1	-6.9	-5.1
Capital Expenditure	-107.1	-55	-91.9	-60	-80.1	-40.6	-25.2	-13.1	-9.2	-6.9
Acquisitions	0	0	0	-13.3	0	0	0	-3	0	0
Purchases of Investments	-679.5	-608.4	-553.3	-278.4	-230.8	-212.8	0	0	0	0
Sales/Maturities of Investments	629.1	555.8	340.8	258	167.6	89.5	0	0	0	0.6
Other Investing Activities	-8.8	-8.2	-7.7	-5.2	-6.1	-4.9	-5.4	-3	-2.3	-1.8
Investing Cash Flow	-157.5	-107.6	-304.4	-93.6	-143.3	-163.8	-25.2	-16.1	-9.2	-6.4
Net Debt Issuance	0	0	0	0	0	0	-27	0	-19.2	30
Long-Term Net Debt Issuance	0	0	0	0	0	0	0	0	-30	15
Short-Term Net Debt Issuance	0	0	0	0	0	0	-27	0	10.8	15
Net Stock Issuance	-234.8	-646.6	0	0	0	0	0	0	83.8	-0
Net Common Stock Issuance	-234.8	-646.6	0	0	0	0	0	0	78	-0
Common Stock Issuance	0	0	0	0	0	0	0	0	78.1	0
Common Stock Repurchased	-234.8	-646.6	0	0	0	0	0	0	-54.3	-0
Net Preferred Stock Issuance	0	0	0	0	0	0	0	0	5.9	0
Net Dividends Paid	0	0	0	0	0	0	0	0	0	0
Common Dividends Paid	0	0	0	0	0	0	0	0	0	0
Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0
Other Financing Activities	127.2	20.5	32	31.9	44.7	27.3	16.9	7.4	-1.1	-0.3
Financing Cash Flow	-107.6	-626.1	32	31.9	44.7	27.3	-10.1	7.4	63.5	29.7
Effect of Forex Changes on Cash	0	0	0	0	0	0	0	0	0	0
Cash at Beginning of Period	895.1	1,030.5	754.2	437.4	130.9	207.2	156	133.4	4	17.3
Cash at End of Period	1,369.5	895.1	1,030.5	754.2	437.4	130.9	207.2	156	133.4	4
Net Cash Flow	474.3	-135.4	276.4	316.8	306.5	-76.4	51.3	22.6	129.4	-13.3
Free Cash Flow	632.4	543.3	456.8	318.5	325	19.6	61.4	18.2	65.8	-43.5
Cash Interest Paid	1	1	1	0.5	1.6	0.4	0.8	1.3	1.7	0.9
Cash Income Taxes Paid	158.6	151.9	4.2	3.6	5	19.7	17.3	19.2	16.7	12.9
All data is from our financial data partners, who compile data from SEC filings. Data errors are possible. If you spot one, please let us know.