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The Trade Desk TTD Ratios & Valuation

Q2 '26Q1 '26Q4 '25Q3 '25Q2 '25
Profitability
Gross margin76.9%-2.5pp77.8%-2.3pp78.6%-2.1pp78.8%-2.2pp79.4%-1.8pp
Operating margin19.6%+1.9pp20.3%+2.6pp20.3%+2.9pp18.9%+2.6pp17.7%+3.7pp
Net margin13.6%-2.0pp14.6%-1.5pp15.3%-0.8pp15.7%+2.4pp15.6%+3.9pp
Returns
Return on equity15.4%-0.9pp16.7%-0.1pp16.3%+0.9pp16.8%+3.9pp16.4%+5.0pp
Return on invested capital18.5%-0.2pp20%-0.3pp19.1%-0.4pp18.9%+1.7pp18.7%+5.1pp
Efficiency
Asset turnover0.5×0.0×0.5×0.0×0.5×0.0×0.5×0.0×0.5×0.0×
Liquidity
Current ratio1.7×0.0×1.7×-0.1×1.6×-0.2×1.7×-0.1×1.7×-0.1×
Leverage
Debt-to-equity0.2×0.0×0.2×0.0×0.2×+0.1×0.1×0.0×0.1×0.0×
Net debt / EBITDA-1×0.0×-0.6×+0.8×-0.3×+1.7×-0.4×+1.6×-1×+0.9×
Per Share
Book value per share$5.48+0.7%$5.14-4.8%$5.03-14.3%$5.28+1.0%$5.44+13.0%
Valuation
Market capitalization$8.91B-79.6%$10.8B-60.2%$18.36B-68.4%$23.96B-55.3%$35.3B-26.0%
Price / earnings21.9×-83.1×25×-40.9×41.4×-106×54.6×-119×84.6×-104×
Price / sales3×-13.4×3.6×-6.9×6.3×-17.4×8.6×-14.6×13.2×-8.8×
Price / book3.5×-12.8×4.4×-5.6×7.4×-12.3×9.2×-11.2×13.1×-6.7×
EV / EBITDA11.5×-64.3×14.3×-34.3×25.7×-84.9×37.3×-77.3×60.9×-59.8×

FAQ

What are The Trade Desk's profit margins?
The Trade Desk (TTD) runs a 76.9% gross margin and a 19.6% operating margin, with a 13.6% net margin.
Where do The Trade Desk's ratios come from?
Every ratio is computed from The Trade Desk's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.