The Trade Desk, Inc. TTD

Business rating

Price rating

$43.93Price on 18 Sept

$49.52 +12.7%Fair value estimate

Income statement

currency values in millions of USD

Growth and margin trends are strong and improving, but elevated SBC and modest 5‑year incremental ROIC temper an otherwise solid story.

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
Revenue	2,444.8	1,946.1	1,577.8	1,196.5	836	661.1	477.3	308.2	202.9	113.8
Cost of Revenue	472	365.6	281.1	221.6	178.8	156.2	114.1	66.2	39.9	23
Gross Profit	1,972.8	1,580.5	1,296.7	974.9	657.2	504.9	363.2	242	163.1	90.9
Selling, General & Admin	1,082.3	968.2	863.1	624	346.4	275.9	172	119.8	78.2	40.1
Research & Development	463.3	411.8	319.9	226.1	166.7	116.8	83.9	52.8	27.3	12.8
Selling & Marketing	546.5	448	338	249.3	174.7	132.9	87.1	61.4	46.1	26.8
General & Administrative	535.8	520.3	525.2	374.7	171.6	143	84.9	58.4	32.2	13.3
Other Operating Expenses	0	0	0	-2.8	-0.3	0	0	0	0	-0
Operating Expenses	1,545.7	1,380	1,183	850.1	513	392.7	255.9	172.6	105.5	52.9
Operating Income	427.2	200.5	113.7	124.8	144.2	112.2	107.3	69.4	57.5	38
Interest Income	78.8	68.5	12.8	0	0.7	4.7	0.3	0.1	0	0
Interest Expense	0	0	0	1	0	0	1.6	1.8	3.1	1.1
Net Interest Income	78.8	68.5	12.8	-1	0.7	4.7	0.3	-1.7	-3.1	-1.1
Total Net Other Income	80.1	67.5	13.7	-2.8	-0.3	4	-1.6	-5.7	-13.7	-8.1
Pretax Income	507.3	268	127.4	122	143.9	116.2	105.7	63.6	43.8	29.9
Income Tax	114.2	89.1	74	-15.7	-98.4	7.9	17.6	12.8	23.4	13.9
Net Inc. Continuing Ops.	393.1	178.9	53.4	137.8	242.3	108.3	88.1	50.8	20.5	15.9
Net Inc. Discontinued Ops.	0	0	0	0	0	0	0	0	0	0
Other Adj. to Net Income	0	0	0	0	0	0	0	0	0	0
Net Income	393.1	178.9	53.4	137.8	242.3	108.3	88.1	50.8	20.5	15.9
Shares Outstanding (Basic)	490.9	489.3	486.9	476.9	462.9	445.3	457.9	402.6	384.1	472.8
Shares Outstanding (Diluted)	501.9	500.2	499.9	498.5	489.9	478.1	457.9	440.6	406.3	497.9
EBITDA	514.7	280.9	168.1	167	172.8	133.9	119.1	76.6	50.7	32.8
Depreciation & Amortization	87.5	80.4	54.4	42.2	28.6	21.7	11.8	7.2	3.8	1.8
EBIT	427.2	200.5	113.7	124.8	144.2	112.2	107.3	69.4	46.9	31
Effective Tax Rate	22.52%	33.23%	58.09%	-12.89%	-68.39%	6.80%	16.64%	20.16%	53.27%	46.65%
Revenue Per Share	4.98	3.98	3.24	2.51	1.81	1.48	1.04	0.77	0.53	0.24
Net Income Per Share	0.80	0.37	0.11	0.29	0.52	0.24	0.19	0.13	0.05	0.03
Earnings Per Share (Diluted)	0.78	0.36	0.11	0.28	0.49	0.23	0.19	0.12	0.05	0.01
Gross Margin	80.69%	81.21%	82.18%	81.48%	78.61%	76.37%	76.09%	78.51%	80.35%	79.82%
EBITDA Margin	21.05%	14.43%	10.65%	10.43%	17.25%	16.97%	22.49%	24.84%	30.22%	28.83%
EBIT Margin	17.47%	10.30%	7.20%	10.29%	17.21%	17.58%	22.48%	22.50%	28.34%	33.36%
Operating Margin	17.47%	10.30%	7.20%	10.43%	17.25%	16.97%	22.49%	22.50%	28.34%	33.36%
Profit Margin	16.08%	9.19%	3.38%	11.51%	28.98%	16.39%	18.47%	16.48%	10.09%	13.99%
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.