Trade Desk, Inc. · Internet and software services

TTD

Low riskNext report: Around Nov 5 (est.)

View price ↗

The short version

A high-quality, profitable business with steady sales.

Going well

Profitable every year for 10 years
Sales up 19% last year
Brings in more cash than it spends

Money moves

No insider buying or selling in the last 30 days
Institutions added 2.6% to their holdings in the quarter ending June 2026 (318 bought, 445 sold)
Held by Philippe Laffont (Coatue)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$12.77-1.8% that day

Company value: $6.0B; Share price times all shares
Price vs profit (P/E): 15.4x; You pay about $15 for each $1 of yearly profit
Price vs sales: 2.0x; Company value is 2.0 times a year of sales
Cash vs value: 19%; Cash as a share of company value

From TTD's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$715.1M+3.0% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $3.0B, up 12% from the 12 months before. Over 5 years, sales grew about 28% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of TTD. Starting points are the company's recent numbers.

Sales growth+12% a yearRecently: +12% a yearProfit margin14%Last 12 months: 13.6%P/E at the end15xToday: 15.4x. Many steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$5.3B

Profit in 5 years$738M

Price these guesses point to$23.55+84% vs $12.77 todayAbout +13% a year, before dividends

What today's price needs: with a 14% margin and a 15x P/E, sales could shrink about 0.9% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

5/5Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.16.3%
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.15.3%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$795.7M
PassShare count not growingNot diluting owners. Falling means buybacks.-1.3% in 3 years

Revenue: $2.9B; +18.5% vs prior year
5-year growth: +28.2%/yr; revenue, per year
Current ratio: 1.61x; short-term assets / bills due
Free cash flow: $795.7M; 27.5% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 6

Revenue: $715.1M; +3.0% YoY
EPS: $0.14; vs $0.18
Op. margin: 14.2%; -2.6 pts
Gross margin: 74.2%; -4.0 pts
Free cash flow: $140.4M
Share count: -5.2%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

75/ 100

This week: 5
Normal week: 1.6
vs normal: 3.1x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+2.6%

Institutions added 2.6% to their holdings. 318 bought, 445 sold. 2 quarters of net buying in a row.

Shares held by institutions379.6M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-2.0%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

Total liabilities $3.2B

Shares outstandingLatest reported

470M

Earnings reports

Last 12

Next reportAround Nov 5 (est.)Estimated from the same quarter last year

Results filedAug 6
Results filedMay 7
Results filedFeb 25
Results filedJan 26
Results filedNov 6, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

New 5%+ holder (passive)Oct 7 · View filing ↗Big holder 5%+ holder update (passive)Oct 5 · View filing ↗Big holder 5%+ holder update (passive)Jul 31 · View filing ↗Big holder Listing standards noticeMar 25 · View filing ↗Red flag Listing standards noticeDec 15, 2025 · View filing ↗Red flag

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Stock awardJeffrey Terry GreenPresident and CEO, Director, 10% owner

1,618,489 shares

Now owns 737,028 shares
Exercise price $12.26
Employee Stock Option (Right to Buy)
4 transactions
Filed 2 days after trade
Also: Returned to company

Oct 19Form 4 ↗

Stock awardNathan OlmsteadChief Financial Officer

439,753 shares

Now owns 439,753 shares
Exercise price $12.26
Employee Stock Option (Right to Buy)
Filed 2 days after trade
Also: Returned to company

Oct 19Form 4 ↗

Stock awardVivek KundraChief Operating Officer

470,343 shares

Now owns 309,551 shares
Exercise price $12.26
Employee Stock Option (Right to Buy)
2 transactions
Filed 2 days after trade
Also: Returned to company

Oct 19Form 4 ↗

Stock awardJay R GrantChief Legal Officer

658,346 shares

Now owns 309,551 shares
Exercise price $12.26
Employee Stock Option (Right to Buy)
5 transactions
Filed 2 days after trade
Also: Returned to company

Oct 19Form 4 ↗

Stock awardTahnil R. DavisChief Accounting Officer & EVP

513,313 shares

Now owns 309,551 shares
Exercise price $12.26
Employee Stock Option (Right to Buy)
6 transactions
Filed 2 days after trade
Also: Returned to company

Oct 19Form 4 ↗

Leadership changeOct 20 · Form 8-K ↗DEFA14AOct 8 · Form DEFA14A ↗New 5%+ holder (passive)Oct 7 · Form SCHEDULE 13G ↗5%+ holder update (passive)Oct 5 · Form SCHEDULE 13G/A ↗Proxy statementSep 18 · Form DEF 14A ↗

Stock awardJeffrey Terry GreenPresident and CEO, Director, 10% owner

7,000,000 shares

Now owns 7,000,000 shares
Exercise price $14.97
Employee Stock Option (Right to Buy)
Filed 2 days after trade

Sep 14Form 4 ↗

Leadership changeSep 15 · Form 8-K ↗Insider tradeSep 14 · Form 4 ↗Insider tradeSep 14 · Form 4 ↗Insider tradeSep 14 · Form 4 ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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