TTDTrade Desk, Inc.
Services-Computer Programming, Data Processing, Etc.
- Revenue
- $2.9B
- 18% YoY
- Operating margin
- 20.3%
- 16% YoY
- EBITDA
- $705M
- 37% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear224% of net incomeCash flow under 80% of net income
- Dilutive SBCFired17% of revenueOver 10% of revenue
- Payouts exceed cash flowFired139% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.6B | $1.9B | $2.4B | $2.9B | 18% |
| Operating income | $125M | $114M | $200M | $427M | $589M | 38% |
| Net income | $138M | $53M | $179M | $393M | $443M | 13% |
| Operating cash flow | $379M | $549M | $598M | $739M | $993M | 34% |
| Capex | $55M | $84M | $47M | $98M | $197M | 101% |
| Stock-based comp | $337M | $499M | $492M | $495M | $491M | 0.8% |
| Buybacks | $0 | $0 | $647M | $235M | $1.4B | 488% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $27M | −$857M | 47 | 138 |
| FY2024 | $7M | $589M | 147 | 125 |
| FY2023 | $32M | $292M | 90 | 97 |
| FY2022 | $5M | −$620M | 56 | 54 |
| FY2021 | $835M | $1.2B | 114 | 116 |