The Trade Desk, Inc. Financial Ratios — TTD Stock

Profitability (USD)

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	22.95	24.78	27.54	21.51	29.81	10.85	2.93	8.36	15.37	16.32
Return on Assets (%)	- -	10.2	5.48	7.61	9.21	7.61	10.81	4.35	1.34	3.86	7.15	7.23
Return on Capital (%)	- -	27.56	16.03	22.57	26.81	18.11	- -	- -	2.55	7.49	13.89	14.34
Return on Invested Capital (%)	- -	33.77	19.66	23.93	26.82	17.54	- -	- -	2.28	5.63	11.74	12.88
Gross Margin (%)	71.81	79.82	80.35	78.51	76.09	76.37	78.61	81.48	82.18	81.21	80.69	78.63
EBITDA Margin (%)	3.24	34.97	30.22	24.84	24.96	20.25	20.67	13.96	10.65	14.43	21.05	24.35
Operating Margin (%)	1.72	33.36	28.34	22.5	22.49	16.97	17.25	10.43	7.2	10.3	17.47	20.35
Incremental Operating Margin (%)	- -	53.71	21.93	11.24	22.46	2.65	18.3	- -	- -	23.57	45.45	35.92
Pretax Margin (%)	-2.12	26.23	21.6	20.64	22.15	17.58	17.21	10.2	8.07	13.77	20.75	22.74
Profit Margin (%)	0.01	13.99	10.09	16.48	18.47	16.39	28.98	11.51	3.38	9.19	16.08	15.31
Net Income to Common Margin (%)	- -	4.37	10.09	16.48	18.47	16.39	28.98	11.51	3.38	9.19	16.08	15.31
Effective Tax Rate (%)	- -	46.65	53.27	20.16	16.64	6.8	- -	- -	58.09	33.23	22.52	32.71
Dvd Payout Ratio (%)	- -	-220.44	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	22.95	24.78	27.54	21.51	29.81	10.85	2.93	8.36	15.37	16.32

Credit (USD)

Credit Ratios API ChatGPT

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	15	45	26	27	- -	189	292	285	261	236	312	436
ST Debt	- -	- -	- -	- -	- -	15	38	46	52	56	64	76
LT Debt	15	45	26	27	- -	175	255	238	209	180	248	360
Total Debt/EBITDA	10.34	1.13	0.42	0.35	- -	1.42	1.69	1.7	1.55	0.84	0.61	0.62
Net Debt/EBITDA	-1.65	1.03	-1.75	-1.68	-1.74	-0.98	-2.53	-4.51	-6.13	-3.19	-2.66	-0.93
Total Debt/EBIT	19.54	1.18	0.45	0.39	- -	1.69	2.03	2.28	2.3	1.18	0.73	0.74
Net Debt/EBIT	-3.12	1.08	-1.87	-1.86	-1.93	-1.17	-3.03	-6.04	-9.07	-4.46	-3.21	-1.12
EBITDA to Interest Expense	1.71	34.89	19.94	42.75	76.87	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	0.73	30.39	17.7	37.1	64.1	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	0.91	33.29	18.71	38.72	69.24	- -	- -	- -	- -	- -	- -	- -
Interest Expense	1	1	3	2	2	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-6	6.73	30.58	30.81	35.3	35.43	36.79	42.69	48.29	44.27	48.25	40.38
Long-Term Debt/Equity (%)	68.27	117.06	15.72	10.99	- -	28.55	25.13	15.61	9.86	8.33	8.4	14.49
Long-Term Debt/Capital (%)	40.57	53.93	13.59	9.91	- -	21.81	19.5	13.16	8.78	7.52	7.6	12.32
Long-Term Debt/Total Assets (%)	14.6	21.35	4.81	3.39	- -	10.12	9.24	6.67	4.76	3.69	4.05	5.85
Total Debt/Equity (%)	68.27	117.06	15.72	10.99	- -	30.93	28.86	18.63	12.34	10.9	10.59	17.56
Total Debt/Capital (%)	40.57	53.93	13.59	9.91	- -	23.62	22.4	15.71	10.98	9.83	9.57	14.94
Total Debt/Total Assets (%)	14.6	21.35	4.81	3.39	- -	10.96	10.62	7.96	5.96	4.83	5.11	7.09
Net Debt to Equity	-10.91	106.51	-65.43	-52.51	-52.52	-21.37	-43.17	-49.38	-48.72	-41.36	-46.44	-26.49
Net Debt/Capital (%)	-12.25	51.58	-189.26	-110.56	-110.62	-19.5	-50.37	-71.3	-76.57	-59.48	-72.39	-29.09
EBITDA	1	40	61	77	119	134	173	167	168	281	515	705
EBITDA-CapEx	1	35	54	66	99	98	99	112	84	234	416	508
Operating Income (Loss)	1	38	58	69	107	112	144	125	114	200	427	589

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.28	0.03	0.39	0.3	0.29	0.27	0.42	0.53	0.71	0.55	0.67	0.4
Current Ratio	1.55	1.68	1.5	1.48	1.48	1.56	1.57	1.71	1.9	1.72	1.86	1.61
Quick Ratio	1.52	1.65	1.48	1.46	1.46	1.53	1.5	1.65	1.87	1.69	1.83	1.55
CFO/Avg Current Liab	- -	-0.4	0.32	0.07	0.14	0.07	0.34	0.23	0.29	0.26	0.27	0.32
Common Equity/Total Assets	-6	6.73	30.58	30.81	35.3	35.43	36.79	42.69	48.29	44.27	48.25	40.38
Long-Term Debt/Equity (%)	68.27	117.06	15.72	10.99	- -	28.55	25.13	15.61	9.86	8.33	8.4	14.49
Long-Term Debt/Capital (%)	40.57	53.93	13.59	9.91	- -	21.81	19.5	13.16	8.78	7.52	7.6	12.32
Long-Term Debt/Total Assets (%)	14.6	21.35	4.81	3.39	- -	10.12	9.24	6.67	4.76	3.69	4.05	5.85
Total Debt/Equity (%)	68.27	117.06	15.72	10.99	- -	30.93	28.86	18.63	12.34	10.9	10.59	17.56
Total Debt/Capital (%)	40.57	53.93	13.59	9.91	- -	23.62	22.4	15.71	10.98	9.83	9.57	14.94
Total Debt/Total Assets (%)	14.6	21.35	4.81	3.39	- -	10.96	10.62	7.96	5.96	4.83	5.11	7.09
CFO/Total Liabilities	-18.47	-21.27	20.1	5.66	11.97	5.39	23.27	18.46	24.22	21.96	23.38	27.06
CFO/CapEx	-17.84	-7.13	10.9	3.09	4.37	1.69	5.47	6.91	6.52	12.79	7.53	5.04
Altman's Z-Score	- -	- -	- -	- -	- -	7.83	14.55	14.26	7.02	8.96	12.56	4.03

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	0.84	0.71	0.63	0.67	0.66	0.61	0.66	0.72	0.75	0.79	0.82
Days Sales Outstanding	- -	433.35	511.89	578.38	548.44	552.46	600.41	549.85	505.23	489.28	462.86	447.42
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	12,427	39,058	44,861	22,121	35,971	59,898	18,266
- Cash & Cash Equivalents	17	4	133	156	207	131	437	754	1,031	895	1,369	658
+ Preferred Equity and Hybrid Capital	28	24	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	15	45	26	27	- -	189	292	285	261	236	312	436
Enterprise Value	- -	- -	- -	- -	- -	12,362	38,726	44,187	20,935	34,827	58,288	17,399
Total Capital	37	83	190	273	395	802	1,306	1,812	2,376	2,400	3,261	2,921
Total Debt/Capital (%)	40.57	53.93	13.59	9.91	- -	23.62	22.4	15.71	10.98	9.83	9.57	14.94
Total Debt / EV	- -	- -	- -	- -	- -	0.02	0.01	0.01	0.01	0.01	0.01	0.03
EV/Sales	- -	- -	- -	- -	- -	18.7	46.32	36.93	13.27	17.9	23.84	6.01
EV/EBITDA	- -	- -	- -	- -	- -	92.35	224.06	264.53	124.55	123.98	113.26	24.68
EV/EBIT	- -	- -	- -	- -	- -	110.18	268.54	354.01	184.2	173.72	136.45	29.52
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	205.33	- -	- -	38.15	58.21	78.83	17.53
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	504.32	- -	- -	45.06	63.15	90.9	21.87
Diluted Market Cap	- -	- -	- -	- -	- -	13,064	40,418	46,262	22,547	36,800	60,601	18,942
Diluted Enterprise Value	- -	- -	- -	- -	- -	12,999	40,086	45,588	21,362	35,656	58,992	18,076
EV per Share	- -	- -	- -	- -	- -	27.18	81.8	91.4	42.68	71.23	117.49	36.56
TTM Sales	45	114	203	308	477	661	836	1,196	1,578	1,946	2,445	2,896
TTM EBITDA	1	40	61	77	119	134	173	167	168	281	515	705
TTM Operating Income	1	38	58	69	107	112	144	125	114	200	427	589
TTM Cash Flow to Firm	- -	-36	76	33	88	60	- -	- -	549	598	739	993
TTM Free Cash Flow to Firm	- -	-41	70	23	68	25	- -	- -	465	552	641	796

Multiples (USD)

Valuation Multiples API ChatGPT

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	- -	- -	532.97	122.1	142.91	48.53	66.72	94.51	23.81
EV/EBIT	- -	- -	- -	- -	- -	110.18	268.54	354.01	184.2	173.72	136.45	29.52
Enterprise Value	- -	- -	- -	- -	- -	12,362	38,726	44,187	20,935	34,827	58,288	17,399
Low Price	- -	- -	- -	- -	- -	17.78	15.09	47.7	40.18	42.45	62.73	35.81
EV/Sales	- -	- -	- -	- -	- -	18.7	46.32	36.93	13.27	17.9	23.84	6.01
EV/EBITDA	- -	- -	- -	- -	- -	92.35	224.06	264.53	124.55	123.98	113.26	24.68
Price/Earnings	- -	- -	- -	- -	- -	112.35	157.6	321.2	411.38	201.17	150.78	42.27
Price/Earnings Average	- -	- -	- -	- -	- -	93.62	85.39	265.55	534.31	188.35	121.84	72.93
Price/Earnings High	- -	- -	- -	- -	- -	116.08	182.33	383.96	836.04	249.98	176.69	140.33
Price/Earnings Low	- -	- -	- -	- -	- -	73.09	28.83	165.1	366.52	116.07	78.34	39.45
Price/Book Value	- -	- -	- -	- -	- -	20.29	38.55	29.37	10.46	16.62	20.31	7.35
Price/Book Value Average	- -	- -	- -	- -	- -	16.91	20.89	24.28	13.58	15.56	16.41	12.68
Price/Book Value High	- -	- -	- -	- -	- -	20.96	44.6	35.11	21.25	20.65	23.8	24.41
Price/Book Value Low	- -	- -	- -	- -	- -	13.2	7.05	15.1	9.32	9.59	10.55	6.86
Price/Tangible Book Value	- -	- -	- -	- -	- -	20.59	38.99	29.65	10.55	16.75	20.41	7.41
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	17.16	21.13	24.51	13.7	15.68	16.49	12.79
Price/Tangible Book Value High	- -	- -	- -	- -	- -	21.28	45.11	35.44	21.44	20.82	23.92	24.6
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	13.4	7.13	15.24	9.4	9.67	10.6	6.92
Price/Sales	- -	- -	- -	- -	- -	18.41	45.68	36.98	13.92	18.5	24.24	6.47
Price/Sales Average	- -	- -	- -	- -	- -	15.34	24.75	30.58	18.08	17.32	19.59	11.16
Price/Sales High	- -	- -	- -	- -	- -	19.02	52.85	44.21	28.29	22.98	28.41	21.48
Price/Sales Low	- -	- -	- -	- -	- -	11.98	8.36	19.01	12.4	10.67	12.6	6.04
Price/Cash Flow	- -	- -	- -	- -	- -	202.14	94.28	116.9	40.02	60.16	80.15	18.88
Price/Cash Flow Average	- -	- -	- -	- -	- -	168.44	51.08	96.65	51.98	56.33	64.77	32.57
Price/Cash Flow High	- -	- -	- -	- -	- -	208.85	109.07	139.74	81.34	74.76	93.92	62.67
Price/Cash Flow Low	- -	- -	- -	- -	- -	131.5	17.25	60.09	35.66	34.71	41.64	17.61
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	444.11	66.16	118.15	63.04	62.47	76.37	41.07
Price/Free Cash Flow High	- -	- -	- -	- -	- -	550.68	141.26	170.83	98.63	82.91	110.75	79.03
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	346.73	22.34	73.46	43.24	38.5	49.1	22.21
EV/Sales Average	- -	- -	- -	- -	- -	15.57	24.92	30.44	17.46	16.72	19.14	10.58
EV/Sales High	- -	- -	- -	- -	- -	19.32	53.65	44.26	27.74	22.38	28.05	20.64
EV/Sales Low	- -	- -	- -	- -	- -	12.13	8.15	18.71	11.74	10.08	12.07	5.59
EV/EBITDA Average	- -	- -	- -	- -	- -	76.87	120.52	218	163.88	115.82	90.92	43.46
EV/EBITDA High	- -	- -	- -	- -	- -	95.44	259.52	317.01	260.41	155.06	133.26	84.77
EV/EBITDA Low	- -	- -	- -	- -	- -	59.91	39.42	134.01	110.2	69.81	57.34	22.94
EV/EBIT Average	- -	- -	- -	- -	- -	91.71	144.45	291.74	242.36	162.28	109.54	52
EV/EBIT High	- -	- -	- -	- -	- -	113.86	311.04	424.23	385.11	217.25	160.55	101.42
EV/EBIT Low	- -	- -	- -	- -	- -	71.48	47.24	179.34	162.98	97.82	69.09	27.45
Last Price	- -	- -	- -	- -	- -	27.33	82.5	92.79	45.1	73.57	120.74	38.38
High Price	- -	- -	- -	- -	- -	28.24	95.45	110.92	91.66	91.43	141.48	127.41
Enterprise Value Average	- -	- -	- -	- -	- -	10,290	20,831	36,415	27,545	32,535	46,792	30,643
Enterprise Value High	- -	- -	- -	- -	- -	12,775	44,855	52,951	43,770	43,555	68,581	59,770
Enterprise Value Low	- -	- -	- -	- -	- -	8,019	6,813	22,385	18,523	19,611	29,511	16,177

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	382	385	391	416	439	455	473	483	490	489	496	476
Diluted Weighted Avg Shares	498	498	183	441	458	478	490	499	500	500	502	494
Basic Weighted Avg Shares	473	473	183	403	424	445	463	477	487	489	491	488
Revenue per Share	0.09	0.24	1.11	0.77	1.12	1.48	1.81	2.51	3.24	3.98	4.98	5.93
EBITDA per Share	- -	0.08	0.34	0.19	0.28	0.3	0.37	0.35	0.35	0.57	1.05	1.44
Operating Income per Share	- -	0.08	0.31	0.17	0.25	0.25	0.31	0.26	0.23	0.41	0.87	1.21
Basic EPS, GAAP	- -	0.01	0.11	0.13	0.21	0.24	0.52	0.29	0.11	0.37	0.8	0.91
Basic EPS from Cont Ops	- -	0.03	0.11	0.13	0.21	0.24	0.52	0.29	0.11	0.37	0.8	0.91
Diluted EPS, GAAP	- -	0.01	0.11	0.12	0.19	0.23	0.49	0.28	0.11	0.36	0.78	0.9
Diluted EPS from Cont Ops	- -	0.03	0.11	0.12	0.19	0.23	0.49	0.28	0.11	0.36	0.78	0.9
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.03	-0.08	0.41	0.08	0.2	0.14	0.88	0.79	1.13	1.22	1.51	2.03
Free Cash Flow per Basic Share	-0.03	-0.09	0.37	0.05	0.16	0.06	0.72	0.68	0.95	1.13	1.31	1.63
Cash & Equivalents per Share	0.05	0.01	0.34	0.37	0.47	0.56	1.32	1.98	2.95	2.82	3.87	2.74
Book Value per Share	-0.02	0.04	0.42	0.59	0.9	1.35	2.14	3.16	4.31	4.43	5.94	5.22
Tangible Book Value per Share	-0.02	0.03	0.41	0.58	0.88	1.33	2.12	3.13	4.28	4.39	5.92	5.18