TTD
Trade Desk, Inc.
Technology • CIK 0001671933
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Market Cap
$10.97B
P/E (TTM)
25.3x
Rev Growth (TTM)
+15.5%
Net Margin (TTM)
14.6%
FCF Yield (TTM)
7.7%
FCF Margin (TTM)
28.4%
Filings your agent reads
Primary-source SEC disclosures, read end-to-end — every figure traceable to its filing.
8-KJun 20263 weeks agosource
8-KJun 20262026-06-01source
8-KMay 20262026-05-29source
8-KMay 20262026-05-08source
8-KMay 20262026-05-08source
Point your agent at TTD and it navigates these the same way — citing each number back to the filing.
Cash Flow Health
Free Cash Flow8/8 positive
TTM$842M
Q1 '26
$279M-2%
Q4 '25
$285M+80%
FCF Margin
TTM28.4%
Q1 '2640.5%+20%
Sector: 8.6%Top 25%
OCF Margin36.8%
OCF/NI2.53x
CapEx Coverage4.4x
FCF Yield7.7%
FCF Growth (2Y)+19%
Cash Conversion Cycle
-1105 days
DSO: 421+DIO: 0−DPO: 1526
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM10.6%
Div Yield0.0%
+Buyback (TTM)10.6%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$842.5M
Stock Repurchases (TTM)$1.2B
Capital Return / FCF137.4%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
14.5%
Moderate
+0.0% YoY+0.1%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
13.2%
8Q: 12.5%
Asset Turnover
0.50x
8Q: 0.48x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: 6.6% ≈ 14.5% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
8.80x
8Q:10.30x
-669.0%
Invested Cap Turn
1.09x
8Q:1.02x
+12.5%
CapEx Intensity
9.2%
8Q:7.2%
CapEx/Depreciation
2.03x
Depreciation Rate Trend
⚠ Declining -7.5%
Asset-based ROIC formula
Valuation Analysis
Fair Value
Price-to-EarningsTTM
25.3x
Volatile
8Q: 359.3x-41041%
High PEG ratio (3.0x) suggests expensive for growth
Valuation Lenses
Earnings
25.3x
vs – sector
Cash Flow
11.2x
EV/FCF vs –
Growth-Adj
3.0xPEG
Expensive for growth
Quality-Adj
1.8P/E per %ROIC
ROIC: 14.5%
Shareholder Returns
Dividend
–
Buyback
10.6%
Total Yield
10.6%
Market Cap$10.97B
EV$9.46B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
80/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
16.7%
8Q:–
Return on Invested Capital (ROIC)Top 25%
14.5%
8Q:–
Flat
vs Sector:0.0%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 13.2%
Asset Turnover: 0.50x
Earnings Quality
Cash Conversion
2.53x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin77.8%
Capital Efficiency
Invested Capital Turnover1.09x
Working Capital
Cash Conversion Cycle-1105 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
75/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
15.5%
OpInc Growth YoY
22.4%
EPS Growth YoY
8.4%
FCF 3Y CAGR
18.6%
Growth Quality Analysis
✓Sustainability Index: 7.5/10 - Highly sustainable growth
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
77.8%
Operating
20.3%
Top 25% in sector
Net
14.6%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+13.8 pts
FCF: 28.4% | Net: 14.6%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $1.41B
Interest Coverage
–
+Net cash position: $1.41B
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis