What is The Trade Desk's net debt?

The Trade Desk (TTD) reported net debt of -$454.8M in Q1 2026.

How has The Trade Desk's net debt changed year-over-year?

The Trade Desk's net debt increased by 42.0% year-over-year, from -$783.58M to -$454.8M.

What is the long-term trend for The Trade Desk's net debt?

Over 5 years (2020 to 2025), The Trade Desk's net debt has grown at a 8.9% compound annual growth rate (CAGR), from -$144.92M to -$221.85M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

The Trade Desk TTD Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cleveland-CliffsCLF

40×—

Armstrong World IndustriesAWI

0.9×-0.1×

LAD

Lithia MotorsLAD

0.4×0.0×

Albertsons CompaniesACI

4.1×+0.4×

Karman Holdings Inc.KRMN

5.9×+2.7×

Pilgrim's Pride CorporationPPC

1.5×+0.9×

Other financials

Income statement

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Revenue$688.9M+11.8%

Gross profit$506.9M+7.1%

Operating income$66.6M+22.4%

Net income$40.0M-21.1%

EPS (diluted)$0.08-20.0%

Balance sheet

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Cash & equivalents$878.4M-21.5%

Total debt$423.6M+26.5%

Total equity$2.5B-9.7%

Total assets$5.7B+0.5%

Cash flow

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Operating cash flow$391.8M+34.4%

CapEx$112.7M+90.7%

Free cash flow$279.1M+20.1%

Valuation

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Market cap$8.7B-60.2%

Enterprise value$8.25B-60.8%

P/E20.1×-33.0×

P/S2.9×-5.6×

Profitability

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Gross margin77.8%-2.3pp

Operating margin20.3%+2.6pp

Net margin14.6%-1.5pp

FCF margin28.4%+1.3pp

Returns & leverage

See full

Return on equity16.7%-0.1pp

Debt / equity0.2×0.0×

Current ratio1.7×-0.1×

Where this comes from

Calculated from The Trade Desk’s reported figures.

$423.6Mtotal debt−$878.4Mcash and equivalents=-$454.8M

The official record: The Trade Desk’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is The Trade Desk's net debt?: The Trade Desk (TTD) reported net debt of -$454.8M in Q1 2026.
How has The Trade Desk's net debt changed year-over-year?: The Trade Desk's net debt increased by 42.0% year-over-year, from -$783.58M to -$454.8M.
What is the long-term trend for The Trade Desk's net debt?: Over 5 years (2020 to 2025), The Trade Desk's net debt has grown at a 8.9% compound annual growth rate (CAGR), from -$144.92M to -$221.85M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.