TTD
The Trade Desk, Inc.

The Trade Desk, Inc.TTD

Communication Services · Advertising Agencies
12.70USD
-0.55%
Oct 28, 2026
TTD overview ready
Independent Demand-Side Platform Enabling Programmatic Connected-TV And Open-Internet Media Buying
The Trade Desk is an independent demand-side platform that lets agencies and advertisers plan, buy, measure, and optimize digital media across channels, with connected TV and open-internet inventory as important growth vectors.
Narrative is still early
Exposed to the Open-Internet Advertising and Connected-TV Monetization narrative through Programmatic Connected-TV and Open-Internet Media Buying — pure play.
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Attractive valuation
Current market expectations look undemanding relative to the cash the business actually produces.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on advertising spend cycles.
Market Oct 27Filing Jun 30Price action Aug 9Research Jul 17

Conviction Level

CompanyFit8.0PriceAction1.4Valuation6.9CompanyPosition9.3BusinessQuality8.0

Conviction uses Company Fit, Price Action, Valuation, Business Quality. Company Position is research context, not an input.

Theme leadershipGroup context · not a Conviction input
Advertising Technology is tracked (too few stocks) — no leadership reading
Price
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Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$6.0B
Avg Volume (60D)
20.8M
60 sessions
Revenue Growth YoY
+18.5%
FY2025 vs FY2024
Gross Margin
+76.9%
Operating Margin
+19.6%
Trailing twelve months
Free Cash Flow Yield
+14.4%
P/E
14.8x
Market metrics as of Oct 27, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

All three valuation perspectives agree this company is cheap.
The Trade Desk, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to the cash the business actually produces. It trades at a 14.3% free-cash-flow yield, which the underlying economics comfortably support.

Company Research

Thesis
The Trade Desk is an independent demand-side platform that lets agencies and advertisers plan, buy, measure, and optimize digital media across channels, with connected TV and open-internet inventory as important growth vectors.
Opportunity
Moderate opportunity
Advertising budgets are shifting from linear television and manually bought digital inventory toward measurable, automated buying across connected TV, streaming video, online video, audio, mobile, display, and other open-internet channels.
Key risk
Dependence on advertising spend cycles.

Economic classification

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Business & Markets

Communication Services · Advertising Agencies
What they do

The Trade Desk, Inc. operates a technology platform that enables clients to create, manage, and optimize digital advertising campaigns across multiple formats, channels, and devices globally.

How it earns

The company generates revenue primarily through transactional fees based on advertising spend on its platform.

Products & services
Digital advertising campaign management
Data and value-added services
Customers & end markets
Advertising agencies
Advertisers
Service providers for agencies or advertisers
Market position

The Trade Desk is considered a leader in the programmatic advertising technology space.

Demand drivers
Medium cyclicality

Advertising budgets tend to fluctuate with economic cycles, impacting demand for digital ad services.