Last 43 quarters of trend data · Technology · Ad Tech
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 14.93 | 32.29 | 70.91 | 23.72 | 53.27 | 99.99 | 136.80 | 81.62 | 144.28 | 143.63 | 344.17 | 94.68 | 249.20 | 292.50 | 814.30 | 80.05 | 471.21 | — | — | 1145.50 | 146.46 |
| — | -67.7% | -48.2% | -70.9% | -63.1% | -30.4% | -60.3% | -13.8% | -42.1% | -50.9% | -57.7% | +18.3% | -47.1% | — | — | -93.0% | +221.7% | — | — | +1673.3% | -9.7% | |
| P/S Ratio | 2.03 | 2.97 | 3.93 | 5.41 | 8.17 | 12.86 | 11.17 | 20.10 | 21.94 | 20.89 | 22.16 | 14.84 | 19.88 | 20.76 | 19.88 | 11.43 | 18.93 | 13.51 | 26.58 | 28.97 | 29.12 |
| — | -76.9% | -64.8% | -73.1% | -62.8% | -38.4% | -49.6% | +35.4% | +10.4% | +0.6% | +11.5% | +29.8% | +5.0% | +53.7% | -25.2% | -60.6% | -35.0% | -60.6% | -28.0% | -7.0% | -1.4% | |
| P/B Ratio | 2.51 | 3.30 | 4.41 | 7.38 | 9.29 | 13.24 | 10.13 | 20.20 | 20.99 | 20.30 | 20.10 | 16.61 | 18.20 | 18.62 | 15.69 | 10.61 | 15.62 | 11.45 | 20.33 | 30.02 | 26.92 |
| — | -75.1% | -56.5% | -63.5% | -55.7% | -34.8% | -49.6% | +21.6% | +15.3% | +9.1% | +28.2% | +56.7% | +16.5% | +62.6% | -22.9% | -64.7% | -42.0% | -64.2% | -32.1% | -23.7% | -12.2% | |
| P/FCF | 7.06 | 15.13 | 9.69 | 16.55 | 36.81 | 76.46 | 29.96 | 84.09 | 61.96 | 215.42 | 61.76 | 140.92 | 53.34 | 81.18 | 43.01 | 45.66 | 66.82 | 59.21 | 61.56 | 75.90 | 84.93 |
| — | -80.2% | -67.6% | -80.3% | -40.6% | -64.5% | -51.5% | -40.3% | +16.2% | +165.3% | +43.6% | +208.6% | -20.2% | +37.1% | -30.1% | -39.8% | -21.3% | -97.9% | -53.8% | +13.8% | -11.6% | |
| EV / EBITDA | 8.21 | 14.82 | 26.42 | 15.67 | 30.72 | 61.22 | 85.22 | 66.67 | 104.80 | 104.01 | 212.66 | 53.49 | 164.92 | 153.25 | — | 46.29 | 174.59 | 351.47 | — | — | 97.29 |
| — | -75.8% | -69.0% | -76.5% | -70.7% | -41.1% | -59.9% | +24.6% | -36.5% | -32.1% | — | +15.6% | -5.5% | -56.4% | — | — | +79.5% | +168.1% | — | — | -23.0% | |
| EV / EBIT | 9.94 | 17.15 | 32.67 | 16.74 | 33.26 | 65.95 | 88.22 | 66.01 | 106.50 | 106.88 | 232.83 | 61.10 | 254.79 | 227.05 | — | 54.08 | 253.13 | 2826.52 | — | — | 108.12 |
| — | -74.0% | -63.0% | -74.6% | -68.8% | -38.3% | -62.1% | +8.0% | -58.2% | -52.9% | — | +13.0% | +0.7% | -92.0% | — | — | +134.1% | +1730.5% | — | — | -27.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.6% | 74.2% | 73.6% | 80.7% | 78.1% | 78.2% | 76.8% | 81.7% | 80.5% | 81.1% | 78.9% | 83.4% | 81.1% | 82.4% | 77.8% | 83.8% | 82.2% | 82.1% | 79.7% | 83.1% | 82.3% |
| — | -5.1% | -4.2% | -1.2% | -3.0% | -3.5% | -2.7% | -2.0% | -0.7% | -1.6% | +1.4% | -0.5% | -1.4% | +0.4% | -2.4% | +0.8% | -0.0% | +0.3% | +3.5% | -0.9% | +3.8% | |
| Operating Margin | 20.3% | 14.2% | 9.7% | 30.3% | 21.8% | 16.8% | 8.8% | 26.4% | 17.3% | 16.2% | 5.8% | 23.8% | 7.6% | 9.0% | -6.1% | 20.4% | 7.3% | 0.5% | -5.4% | -6.4% | 26.7% |
| — | -15.6% | +9.5% | +15.1% | +26.2% | +3.8% | +51.5% | +10.5% | +126.1% | +80.5% | +195.8% | +16.8% | +4.7% | +1841.2% | -12.6% | +418.4% | -72.7% | -97.9% | -252.7% | -119.3% | +35.0% | |
| Net Margin | 15.3% | 9.0% | 5.8% | 22.1% | 15.6% | 13.0% | 8.2% | 24.6% | 15.0% | 14.5% | 6.4% | 16.1% | 8.0% | 7.1% | 2.4% | 14.5% | 4.0% | -5.1% | -4.6% | 2.0% | 19.7% |
| — | -30.7% | -29.4% | -10.2% | +4.2% | -10.7% | +27.7% | +53.1% | +87.9% | +105.0% | +164.5% | +10.7% | +98.5% | +240.2% | +152.6% | +613.8% | -79.6% | -129.7% | -144.9% | -95.7% | +3.3% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.3% | 2.6% | 1.6% | 7.4% | 4.4% | 3.3% | 1.8% | 6.5% | 3.7% | 3.7% | 1.5% | 4.5% | 1.9% | 1.6% | 0.5% | 3.5% | 0.9% | -1.1% | -0.9% | 0.6% | 4.7% |
| — | -23.1% | -9.4% | +12.5% | +16.6% | -10.5% | +22.4% | +45.1% | +101.0% | +126.5% | +218.0% | +27.5% | +116.7% | +247.6% | +150.0% | +521.9% | -81.9% | -126.7% | -142.6% | -96.5% | -8.6% | |
| ROA | 7.2% | 1.1% | 0.7% | 3.1% | 1.9% | 1.5% | 0.9% | 3.1% | 1.8% | 1.7% | 0.7% | 2.1% | 0.9% | 0.8% | 0.2% | 1.7% | 0.4% | -0.5% | -0.4% | 0.2% | 2.1% |
| — | -27.5% | -21.5% | -1.5% | +10.0% | -10.7% | +29.4% | +51.7% | +98.9% | +119.3% | +197.8% | +20.7% | +112.4% | +247.0% | +153.4% | +600.0% | -79.7% | -130.4% | -149.3% | -96.1% | -0.7% | |
| ROIC | 21.3% | 3.9% | 2.3% | 8.4% | 5.4% | 4.3% | 2.1% | 8.2% | 4.8% | 4.5% | 1.4% | 7.6% | 2.1% | 2.3% | -1.3% | 5.9% | 1.9% | 0.1% | -1.2% | -1.8% | 5.9% |
| — | -8.7% | +9.9% | +2.9% | +11.7% | -4.8% | +48.6% | +6.9% | +130.7% | +92.2% | +208.8% | +28.7% | +11.9% | +1874.5% | -10.4% | +424.0% | -68.3% | -97.5% | -280.7% | -118.1% | +31.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.17 | 0.17 | 0.18 | 0.14 | 0.13 | 0.12 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 | 0.12 | 0.14 | 0.15 | 0.17 | 0.19 | 0.23 |
| — | +32.3% | +40.0% | +65.9% | +29.5% | +16.0% | +12.4% | -2.9% | -3.0% | -10.0% | -16.1% | -11.6% | -17.4% | -18.8% | -22.1% | -33.8% | -38.2% | -38.2% | -35.8% | -35.4% | -39.9% | |
| Debt / EBITDA | 0.62 | 3.30 | 4.32 | 1.51 | 1.93 | 2.39 | 4.27 | 1.42 | 2.27 | 2.29 | 4.72 | 1.43 | 4.26 | 4.10 | — | 2.23 | 6.39 | 19.09 | — | — | 3.28 |
| — | +37.6% | +1.1% | +6.2% | -14.7% | +4.7% | -9.4% | -0.5% | -46.8% | -44.2% | — | -35.9% | -33.3% | -78.5% | — | — | +94.5% | +376.1% | — | — | -47.1% | |
| Current Ratio | 1.61 | 1.72 | 1.68 | 1.61 | 1.71 | 1.71 | 1.81 | 1.86 | 1.85 | 1.80 | 1.79 | 1.72 | 1.87 | 1.87 | 1.90 | 1.90 | 1.91 | 1.92 | 1.91 | 1.71 | 1.76 |
| — | +0.6% | -7.1% | -13.3% | -7.6% | -4.6% | +0.9% | +8.1% | -1.0% | -3.9% | -5.5% | -9.3% | -2.3% | -2.7% | -0.7% | +10.5% | +8.6% | +8.6% | +11.3% | +9.4% | +1.6% | |
| Quick Ratio | 1.61 | 1.72 | 1.68 | 1.61 | 1.71 | 1.71 | 1.81 | 1.86 | 1.85 | 1.80 | 1.79 | 1.72 | 1.87 | 1.87 | 1.90 | 1.90 | 1.91 | 1.92 | 1.91 | 1.71 | 1.76 |
| — | +0.6% | -7.1% | -13.3% | -7.6% | -4.6% | +0.9% | +8.1% | -1.0% | -3.9% | -5.5% | -9.3% | -2.3% | -2.7% | -0.7% | +10.5% | +8.6% | +8.6% | +11.3% | +9.4% | +1.6% | |
| Interest Coverage | — | 155.92 | 212.68 | — | 504.27 | — | — | — | — | — | — | — | — | — | — | — | — | — | -15.85 | -53.50 | 253.77 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 43 years · Updated daily
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Quick answers to the most common questions about buying TTD stock.
The Trade Desk, Inc.'s current P/E is 14.9x. The average P/E over the last 4 quarters is 45.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
The Trade Desk, Inc.'s current operating margin is 20.3%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking The Trade Desk, Inc.'s business trajectory between earnings reports.