The Trade Desk, Inc.
- Open
- 13.95
- Day high
- 14.17
- Day low
- 13.49
- Prev close
- 13.57
- Volume
- 23.6M
- Mkt cap
- $6.4B
- P/E (TTM)
- 16.3
- EPS (TTM)
- $0.84
- P/B
- 2.5
- P/S
- 2.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.1M over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
The Trade Desk, Inc. (TTD) is a Technology company listed on NASDAQ. The stock is down 75% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4). Drillr has 1 published research article covering TTD.
The Trade Desk, Inc. (TTD) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 15 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TTD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $0.18 | $0.14 | -20.9% | $715M | -5.3% |
| May 7, 2026 | $0.12 | $0.08 | -33.3% | $689M | +1.5% |
| Feb 25, 2026 | $0.59 | $0.39 | -34.4% | $847M | +0.7% |
| Nov 6, 2025 | $0.20 | $0.45 | +123.9% | $739M | +2.8% |
| Aug 7, 2025 | $0.18 | $0.18 | +1.4% | $694M | +1.3% |
| May 8, 2025 | $0.14 | $0.10 | -27.4% | $616M | +7.1% |
| Feb 12, 2025 | $0.57 | $0.59 | +3.5% | $741M | -2.4% |
| Nov 7, 2024 | $0.39 | $0.41 | +3.8% | $628M | +1.3% |
| Aug 8, 2024 | $0.36 | $0.39 | +9.2% | $585M | +1.1% |
| Feb 15, 2024 | $0.41 | $0.41 | -0.1% | $606M | +4.1% |
| Nov 9, 2023 | $0.29 | $0.33 | +13.8% | $493M | +1.4% |
| Feb 15, 2023 | $0.37 | $0.38 | +2.7% | $491M | +0.1% |
TTD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 18, 2026 | Davis Tahnil R.officer: Chief Accounting Officer & EVP | Tax | 1,051 | $14.14 |
| Aug 18, 2026 | Davis Tahnil R.officer: Chief Accounting Officer & EVP | Tax | 1,373 | $14.14 |
| Aug 18, 2026 | GRANT JAY Rofficer: Chief Legal Officer | Tax | 2,848 | $14.14 |
| Aug 18, 2026 | Kundra Vivekofficer: Chief Operating Officer | Tax | 2,320 | $14.14 |
| Aug 18, 2026 | Davis Tahnil R.officer: Chief Accounting Officer & EVP | Tax | 1,220 | $14.14 |
| Aug 18, 2026 | GRANT JAY Rofficer: Chief Legal Officer | Tax | 2,652 | $14.14 |
| Aug 18, 2026 | Kundra Vivekofficer: Chief Operating Officer | Tax | 4,713 | $14.14 |
| Aug 18, 2026 | GRANT JAY Rofficer: Chief Legal Officer | Tax | 2,076 | $14.14 |
| Aug 18, 2026 | Davis Tahnil R.officer: Chief Accounting Officer & EVP | Tax | 5,317 | $14.14 |
| Aug 18, 2026 | GRANT JAY Rofficer: Chief Legal Officer | Tax | 5,779 | $14.14 |
| Jul 13, 2026 | Price Penry Wdirector | Grant | 20,893 | $19.75 |
| Jul 13, 2026 | Price Penry Wdirector | Grant | 900 | $19.75 |
| Jul 13, 2026 | Olmstead Nathanofficer: Chief Financial Officer | Grant | 439,753 | $19.75 |
| Jul 13, 2026 | Price Penry Wdirector | Grant | 25,505 | $19.75 |
| Jul 13, 2026 | Olmstead Nathanofficer: Chief Financial Officer | Grant | 246,062 | — |
Source: TTD SEC Form 4 filings, latest Aug 18, 2026. For informational purposes only — not investment advice.
See the full TTD insider & 13F page →The Trade Desk, Inc. company profile
Overview
The Trade Desk, Inc. (NASDAQ:TTD) is a technology company that operates a self-service cloud-based platform for digital advertising. Founded in 2009 and headquartered in Ventura, California, the company went public in September 2016. The Trade Desk has established itself as a leading demand-side platform (DSP) in the programmatic advertising industry, serving advertising agencies and other service providers who manage digital advertising campaigns for brands and advertisers across multiple channels and devices.
Business
The Trade Desk operates in the digital advertising technology sector, specifically as a demand-side platform that enables advertisers to purchase digital advertising inventory programmatically. The company's core product is a self-service, cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various formats and channels. The platform supports multiple advertising channels including display advertising (traditional banner ads on websites), video advertising (including Connected TV or CTV), mobile advertising, audio advertising (including streaming music and podcast platforms), native advertising (ads that match the form and function of surrounding content), and social media advertising. These ads can be delivered across various devices including desktop computers, mobile devices, tablets, and connected television devices. Based on recent financial data, the company's revenue mix by channel is approximately: • Video/Connected TV: High-40s percentage of business (the fastest-growing segment) • Mobile advertising: Mid-30s percentage of spend • Display advertising: Low double-digit percentage • Audio advertising: Around 5% of total spend Geographically, North America represents approximately 88% of platform spend, while international markets account for 12%, with international growing faster than the domestic market. The company also provides data services and other value-added offerings, including its Kokai platform which incorporates artificial intelligence to improve campaign performance, UID2 (Unified ID 2.0) identity framework for privacy-compliant user identification, and OpenPath technology for supply chain optimization.
Competitive moat
The Trade Desk's competitive moat centers around several key advantages, though the strength of these moats varies. The company's primary moat is its network effects and data advantages - as more advertisers use the platform, it generates more bidding data and campaign insights, which improves the platform's AI algorithms and targeting capabilities. This creates a virtuous cycle where better performance attracts more customers, generating more data to further improve performance. The company has built significant switching costs through its integrated platform ecosystem. Customers invest considerable time and resources in learning the platform, integrating their data and workflows, and training their teams. The Kokai platform's AI capabilities, which reportedly deliver 24% lower cost per conversion and 20% lower cost per acquisition, create additional stickiness as customers become dependent on these performance improvements. The Trade Desk also benefits from its objectivity positioning - unlike walled gardens that have conflicts of interest (owning both buy-side and sell-side platforms, or competing for the same advertising dollars), The Trade Desk positions itself as purely representing advertiser interests. This objectivity is particularly valuable as regulatory scrutiny increases on major tech platforms. However, the moat faces significant challenges. The digital advertising technology sector is highly competitive with low barriers to entry for basic functionality. Large technology companies like Google, Amazon, and potentially Apple have vastly superior resources and can integrate advertising products with their broader ecosystems. Walled gardens control increasingly large portions of digital advertising inventory and user data, potentially limiting The Trade Desk's access to premium inventory. The company's moat is moderately strong but not impregnable. While the network effects and data advantages provide meaningful differentiation, the rapid pace of technological change in advertising technology and the resource advantages of major tech platforms create ongoing competitive pressure. The company's success largely depends on continued innovation and the regulatory environment's impact on walled garden competitors.
Risks & safety
The Trade Desk demonstrates a strong financial safety profile with robust cash generation and minimal debt, though trading at premium valuations. • Liquidity and Solvency: Strong cash position of $1.37 billion with current ratio of 1.86, indicating solid ability to meet short-term obligations. Minimal debt-to-equity ratio of 0.11, providing financial flexibility. • Cash Generation: Positive free cash flow of $632 million for FY 2024, demonstrating the business model's cash-generative nature. No significant cash burn concerns. • Valuation Metrics: Trading at premium multiples with EV/EBITDA of 110x and P/E ratio around 80x, indicating high growth expectations are priced in. Price-to-book ratio of 19.6x suggests significant premium to tangible assets. • Growth Sustainability: Revenue growth of 26% year-over-year provides some justification for premium valuations, though sustainability depends on continued market share gains and category expansion. • Other Considerations: Strong return on equity trends improving from 2.5% in 2022 to 13.3% in 2024, indicating improving capital efficiency. However, high valuation multiples leave little room for execution missteps or market slowdowns.
Recent development
Over the past few years, The Trade Desk has executed several major strategic initiatives to strengthen its market position and prepare for industry changes. The company underwent its largest organizational restructuring in December 2024, reorganizing client-facing teams and revamping product development processes to enable more agile, weekly product releases. The centerpiece of recent development has been the Kokai platform, an AI-powered advertising platform that the company has been migrating all clients to. Kokai incorporates artificial intelligence across the advertising workflow and has demonstrated significant performance improvements, with about two-thirds of clients now using the platform. The AI capabilities have delivered measurable results including 24% lower cost per conversion and 20% lower cost per acquisition for advertisers. The company has made significant investments in identity and supply chain technologies. The UID2 (Unified ID 2.0) framework has become a key differentiator as the industry moves away from third-party cookies, providing privacy-compliant user identification across the open internet. The OpenPath initiative aims to create more transparency and efficiency in the digital advertising supply chain, showing early success with increased publisher fill rates and revenues. Strategic acquisitions have supplemented organic development, including the acquisition of Sincera, a metadata company that enhances the platform's data capabilities. The company has also expanded its Connected TV partnerships significantly, working with major streaming platforms including Netflix, Disney, Spotify, and Roku to access premium video inventory. Recent efforts have focused on preparing for potential regulatory changes affecting Google and other walled gardens, with management expressing confidence that antitrust actions will create more opportunities for open internet platforms. The company has also expanded its retail media offerings and Joint Business Plans (JBPs) with major brands to deepen customer relationships and increase platform stickiness.
TTD company profile · for informational purposes only — not investment advice.
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