What are The Trade Desk's profit margins?

The Trade Desk (TTD) runs a 77.8% gross margin and a 20.3% operating margin, with a 14.6% 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.

The Trade Desk TTD Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	77.8%-2.3pp	78.6%-2.1pp	78.8%-2.2pp	79.4%-1.8pp	80.1%-1.2pp
Operating margin	20.3%+2.6pp	20.3%+2.9pp	18.9%+2.6pp	17.7%+3.7pp	17.6%+5.3pp
Net margin	14.6%-1.5pp	15.3%-0.8pp	15.7%+2.4pp	15.6%+3.9pp	16%+6.2pp
EBITDA margin	24.4%+3.3pp	24.3%+3.3pp	22.8%+2.9pp	21.3%+3.4pp	21.1%+4.8pp
Free cash flow margin	28.4%+1.3pp	27.5%+1.2pp	24.7%+1.9pp	28.2%+5.7pp	27.1%+0.2pp
Returns
Return on equity	16.7%-0.1pp	16.3%+0.9pp	16.8%+3.9pp	16.4%+5.0pp	16.9%+7.1pp
Return on assets	7.6%-0.4pp	7.2%+0.1pp	7.7%+1.5pp	7.5%+2.2pp	7.9%+3.3pp
Return on invested capital	20%-0.3pp	19.1%-0.4pp	18.9%+1.7pp	18.7%+5.1pp	20.3%+9.1pp
Efficiency
Asset turnover	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×	0.5×0.0×
Liquidity
Current ratio	1.7×-0.1×	1.6×-0.2×	1.7×-0.1×	1.7×-0.1×	1.8×0.0×
Quick ratio	1.7×-0.1×	1.6×-0.2×	1.7×-0.1×	1.7×-0.1×	1.8×0.0×
Cash ratio	0.3×-0.1×	0.2×-0.3×	0.2×-0.2×	0.3×-0.1×	0.4×0.0×
Leverage
Debt-to-equity	0.2×0.0×	0.2×+0.1×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	-0.6×+0.8×	-0.3×+1.7×	-0.4×+1.6×	-1×+0.9×	-1.4×+0.6×
Per Share
Book value per share	$5.14-4.8%	$5.03-14.3%	$5.28+1.0%	$5.44+13.0%	$5.40+24.2%
Valuation
Market capitalization	$10.8B-60.2%	$18.36B-68.4%	$23.96B-55.3%	$35.3B-26.0%	$27.15B-36.6%
Enterprise value	$10.35B-60.8%	$18.14B-68.2%	$23.69B-55.1%	$34.75B-26.0%	$26.36B-37.4%
Price / earnings	25×-40.9×	41.4×-106×	54.6×-119×	84.6×-104×	65.9×-147×
Price / sales	3.6×-6.9×	6.3×-17.4×	8.6×-14.6×	13.2×-8.8×	10.6×-10.3×
Price / book	4.4×-5.6×	7.4×-12.3×	9.2×-11.2×	13.1×-6.7×	10×-9.8×
EV / EBITDA	14.3×-34.3×	25.7×-84.9×	37.3×-77.3×	60.9×-59.8×	48.6×-77.0×
EV / sales	3.5×-6.8×	6.3×-17.0×	8.5×-14.3×	13×-8.6×	10.3×-10.2×
Free cash flow yield	7.8%+5.2pp	4.3%+3.2pp	2.9%+1.9pp	2.1%+1.1pp	2.6%+1.3pp
Earnings yield	4%+2.5pp	2.4%+1.7pp	1.8%+1.3pp	1.2%+0.7pp	1.5%+1.0pp
PEG ratio	5×+4.4×	3.2×+2.0×	1.3×-0.4×	1.3×-0.7×	0.6×-0.7×

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Questions, answered.

What are The Trade Desk's profit margins?: The Trade Desk (TTD) runs a 77.8% gross margin and a 20.3% operating margin, with a 14.6% 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.