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The Trade Desk (TTD)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
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The Trade Desk Balance Sheet 2025-2011 | TTD
Brief overview of The Trade Desk's assets and capital
Balance sheet changes are traced across five available annual reports between 2021 and 2025.
Assets rose from $3.6 billion to $6.2 billion, a gain of +72%, while CAGR was about 14.5%. The balance sheet expanded rapidly.
Assets and liabilities changed at similar rates, +72% and +79%. The funding mix did not shift sharply.
Equity finances 40.4% of the balance sheet, compared with 42.7% at the start. The cushion remains adequate.
The period ended with net cash: net debt stood at -$221.8 million. This supports financial flexibility.
The cash share moved from 21.1% to 10.7%. A higher figure generally provides more room in an adverse scenario.
Retained earnings are negative at -$590.9 million. This reduces the formal capital cushion, although large shareholder returns may have contributed.
Conclusion
The Trade Desk's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet The Trade Desk
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-222 M | -1.06 B | -659 M | -770 M | -470 M | -145 M | 58.6 M | -207 M | -129 M | -108 M | 40.8 M | -2.39 M | - | - | - |
Long Term Debt |
360 M | 248 M | 180 M | 209 M | 238 M | 255 M | - | - | 27 M | 25.8 M | 44.9 M | 14.9 M | - | - | - |
Long Term Debt Current |
76.4 M | 64.5 M | 55.5 M | 52.4 M | 46.1 M | 37.9 M | 14.6 M | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 186 M | 9.31 M | 33 M | 29.1 M | 53 M | 17.5 M | - | - | - |
Total Current Liabilities |
3.27 B | 2.87 B | 2.51 B | 2.03 B | 1.8 B | 1.47 B | 930 M | 714 M | 519 M | 344 M | - | - | - | - | - |
Total Liabilities |
3.67 B | 3.16 B | 2.72 B | 2.27 B | 2.05 B | 1.74 B | 1.12 B | 723 M | 552 M | 373 M | 172 M | 80.4 M | - | - | - |
Retained Earnings |
-591 M | 354 M | 197 M | 666 M | 612 M | 474 M | 232 M | 124 M | 36 M | -14.8 M | 13.1 M | -6.62 M | - | - | - |
Total Assets |
6.15 B | 6.11 B | 4.89 B | 4.38 B | 3.58 B | 2.75 B | 1.73 B | 1.12 B | 797 M | 538 M | 210 M | 102 M | - | - | - |
Cash and Cash Equivalents |
658 M | 1.37 B | 895 M | 1.03 B | 754 M | 437 M | 131 M | 207 M | 156 M | 133 M | 4.05 M | 17.3 M | - | - | - |
Book Value |
2.48 B | 2.95 B | 2.16 B | 2.12 B | 1.53 B | 1.01 B | 613 M | 395 M | 246 M | 164 M | 38.3 M | 21.9 M | - | - | - |
Total Shareholders Equity |
2.48 B | 2.95 B | 2.16 B | 2.12 B | 1.53 B | 1.01 B | 613 M | 395 M | 246 M | 164 M | 14.1 M | -6.13 M | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet The Trade Desk
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
353 M | 346 M | 303 M | 271 M | 263 M | 230 M | 203 M | - | 190 M | 198 M | 201 M | 209 M | 216 M | 219 M | 229 M | 238 M | 248 M | 253 M | 246 M | 255 M | 255 M | 255 M | 255 M | 175 M | 175 M | 175 M | 175 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
3.19 B | 3.28 B | 3.34 B | 3.26 B | 2.99 B | 2.88 B | 2.75 B | - | 2.36 B | 2.28 B | 2.06 B | 2.27 B | 2.01 B | 1.89 B | 1.78 B | 2.05 B | 1.69 B | 1.59 B | 1.52 B | 1.74 B | 1.74 B | 1.74 B | 1.74 B | 1.12 B | 1.12 B | 1.12 B | 1.12 B | 723 M | 723 M | 723 M | 723 M | 552 M | 552 M | 552 M | 552 M | 373 M | 373 M | 373 M | 373 M | 172 M | 172 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-719 M | -725 M | -364 M | -162 M | 4.52 M | 229 M | 188 M | - | 320 M | 371 M | 382 M | 666 M | 594 M | 578 M | 598 M | 612 M | 604 M | 545 M | 497 M | 474 M | 474 M | 474 M | 474 M | 232 M | 232 M | 232 M | 232 M | 124 M | 124 M | 124 M | 124 M | 36 M | 36 M | 36 M | 36 M | -14.8 M | -14.8 M | -14.8 M | -14.8 M | 13.1 M | 13.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
5.76 B | 5.73 B | 5.94 B | 5.96 B | 5.71 B | 5.51 B | 5.16 B | - | 4.52 B | 4.35 B | 4 B | 4.38 B | 3.92 B | 3.67 B | 3.43 B | 3.58 B | 2.99 B | 2.79 B | 2.6 B | 2.75 B | 2.75 B | 2.75 B | 2.75 B | 1.73 B | 1.73 B | 1.73 B | 1.73 B | 1.12 B | 1.12 B | 1.12 B | 1.12 B | 797 M | 797 M | 797 M | 797 M | 538 M | 538 M | 538 M | 538 M | 210 M | 210 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
1.12 B | 878 M | 653 M | 896 M | 1.12 B | 1.22 B | 1.01 B | - | 1.07 B | 966 M | 893 M | 1.03 B | 995 M | 933 M | 844 M | 754 M | 577 M | 477 M | 472 M | 437 M | 437 M | 437 M | 437 M | 131 M | 131 M | 131 M | 131 M | 207 M | 207 M | 207 M | 207 M | 156 M | 156 M | 156 M | 156 M | 133 M | 133 M | 133 M | 133 M | 4.05 M | 4.05 M | - | - | 17.3 M | - | - | - | 6.36 M | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
2.57 B | 2.45 B | 2.6 B | 2.7 B | 2.72 B | 2.63 B | 2.41 B | - | 2.16 B | 2.07 B | 1.94 B | 2.12 B | 1.91 B | 1.78 B | 1.65 B | 1.53 B | 1.3 B | 1.2 B | 1.08 B | 1.01 B | 1.01 B | 1.01 B | 1.01 B | 613 M | 613 M | 613 M | 613 M | 395 M | 395 M | 395 M | 395 M | 246 M | 246 M | 246 M | 246 M | 164 M | 164 M | 164 M | 164 M | 38.3 M | 38.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
2.57 B | 2.45 B | 2.6 B | 2.7 B | 2.72 B | 2.63 B | 2.41 B | 2.17 B | 2.16 B | 2.07 B | 1.94 B | 2.12 B | 1.91 B | 1.78 B | 1.65 B | 1.53 B | 1.3 B | 1.2 B | 1.08 B | 1.01 B | 1.01 B | 1.01 B | 1.01 B | 613 M | 613 M | 613 M | 613 M | 395 M | 395 M | 395 M | 395 M | 246 M | 246 M | 246 M | 246 M | 164 M | 164 M | 164 M | 164 M | 14.1 M | 14.1 M | - | - | -6.13 M | - | - | - | -5.69 M | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of The Trade Desk, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Software
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|---|---|---|---|---|---|
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|
- | - | - |  Russia |
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AGYS
|
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Akamai Technologies
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|
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Alarm.com Holdings
ALRM
|
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Amesite
AMST
|
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Sphere 3D Corp.
ANY
|
$ 2.93 | 8.48 % | $ 8.54 M |  Canada |
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Ebix
EBIX
|
- | -30.99 % | $ 36.3 M | USA |
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Agora
API
|
$ 4.08 | 0.49 % | $ 1.5 B |  China |
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AppFolio
APPF
|
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Appian Corporation
APPN
|
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Digital Turbine
APPS
|
$ 11.61 | 0.08 % | $ 1.31 B | USA |
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Asana
ASAN
|
$ 9.61 | 9.58 % | $ 2.28 B | USA |
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Asure Software
ASUR
|
$ 8.55 | 1.18 % | $ 235 M | USA |
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A10 Networks
ATEN
|
$ 25.7 | 3.88 % | $ 1.86 B | USA |
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Aware
AWRE
|
$ 1.25 | 2.87 % | $ 26.5 M | USA |
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Bandwidth
BAND
|
$ 50.6 | 1.27 % | $ 1.52 B | USA |
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BlackBerry Limited
BB
|
$ 7.79 | 1.5 % | $ 4.61 B | Canada |
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Avalara
AVLR
|
- | - | $ 8.28 B | USA |
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Bill.com Holdings
BILL
|
$ 49.68 | 5.14 % | $ 4.96 B | USA |
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BlackLine
BL
|
$ 30.09 | 6.15 % | $ 1.85 B | USA |
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Bridgeline Digital
BLIN
|
$ 0.88 | 0.27 % | $ 9.88 M | USA |
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Blackbaud
BLKB
|
$ 45.57 | 0.2 % | $ 2.17 B | USA |
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Bumble
BMBL
|
$ 2.96 | 2.01 % | $ 326 M | USA |
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Box
BOX
|
$ 35.0 | 3.7 % | $ 5.05 B | USA |
 |
Bentley Systems, Incorporated
BSY
|
$ 31.72 | 2.42 % | $ 9.98 B | USA |
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Bit Digital
BTBT
|
$ 1.54 | 1.92 % | $ 397 M | USA |
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Calix
CALX
|
$ 35.1 | 0.28 % | $ 2.32 B | USA |
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Cadence Design Systems
CDNS
|
$ 279.96 | 1.55 % | $ 76 B | USA |
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Check Point Software Technologies Ltd.
CHKP
|
$ 139.14 | 5.69 % | $ 14.9 B |  Israel |
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CleanSpark
CLSK
|
$ 13.36 | 6.8 % | $ 3.43 B | USA |
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Cogent Biosciences
COGT
|
$ 33.34 | 0.18 % | $ 4.3 B | USA |
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Creative Realities
CREX
|
$ 2.79 | 0.35 % | $ 29.3 M | USA |
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Cerence
CRNC
|
$ 8.33 | 0.12 % | $ 360 M | USA |
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CrowdStrike Holdings
CRWD
|
$ 236.76 | 14.52 % | $ 59.3 B | USA |
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Commvault Systems
CVLT
|
$ 140.32 | 7.88 % | $ 6.17 B | USA |
 |
Diebold Nixdorf, Incorporated
DBD
|
$ 65.18 | 0.05 % | $ 2.4 B | USA |
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Dropbox
DBX
|
$ 36.96 | 3.94 % | $ 9.92 B | USA |
 |
DocuSign
DOCU
|
$ 69.09 | 5.24 % | $ 14 B | USA |
 |
Domo
DOMO
|
$ 3.9 | 1.7 % | $ 160 M | USA |
 |
The Descartes Systems Group Inc
DSGX
|
$ 79.61 | 4.69 % | $ 6.84 B | Canada |
 |
Viant Technology
DSP
|
$ 12.82 | 1.91 % | $ 211 M | USA |
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Dynatrace
DT
|
$ 52.91 | 3.6 % | $ 15.9 B | USA |
 |
Datasea
DTSS
|
$ 0.66 | 1.39 % | $ 1.71 M | China |
|
Duos Technologies Group
DUOT
|
$ 8.19 | 0.42 % | $ 125 M | USA |
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Euronet Worldwide
EEFT
|
$ 71.35 | 1.43 % | $ 2.98 B | USA |
 |
eGain Corporation
EGAN
|
$ 5.18 | 2.33 % | $ 141 M | USA |
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8x8
EGHT
|
$ 1.84 | 1.36 % | $ 253 M | USA |
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Elastic N.V.
ESTC
|
$ 84.77 | 1.65 % | $ 8.93 B | USA |
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EVERTEC
EVTC
|
$ 29.27 | 0.03 % | $ 1.86 B |  Puerto-rico |
 |
F5 Networks
FFIV
|
$ 411.48 | 0.52 % | $ 23.8 B | USA |