TTD

Trade Desk (The)NASDAQ · Advertising · Communication Services

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FinDog View

Bearish

52-Week Range ?

12.58 – 56.39

P/E (TTM) ?

15.3

Forward P/E ?

9.1

Based on consensus earnings for the next 12 months

Market Cap

$6.2B

—

S&P 500 −0.91% over same period

Volume / Avg Volume

— / 33.0M

Latest earnings analysisFY2026 Q2Reported 2026-08-06

Trade Desk Q2 2026: revenue up 3.0%, Q3 guided below Q2

The Trade Desk's fiscal Q2 2026 revenue rose 3.0% to $715.1 million, but non-GAAP EPS of $0.34 missed the $0.40 consensus and Q3 guidance of at least $650.0 million points below the quarter just reported. That combination — stalled growth, a thinner gross margin and a lower guide — is why our read is Neutral. Below, judge the report on growth, guidance credibility and cash conversion.

Read the full analysis →

Revenue$0.72BYoY +3.00%

EPS (non-GAAP)$0.34Missest. $0.40

Next-quarter revenue guidance$0.65BYoY −9.10%

Next-day move−21.90%

Price History

Closing price · USD1M 6M 1Y 5Y

暂无价格数据

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 25.71M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q2 Quarter ended 2026-06	2026-08-06	$715M	0.34 / 0.40	−21.90%	Read analysis →
FY2026 Q1 Quarter ended 2026-03	2026-05-07	$689M	0.28 / 0.32	−1.75%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-01-26	$2.9B	0.59 / 0.59	−4.79%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-11-06	$739M	0.45 / 0.45	−6.32%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-08-07	$694M	0.18 / —	−38.61%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-05-08	$616M	0.10 / —	+18.60%	Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →

Report date

2026-11-05est.

in 4 days · Estimated from last year's report date; subject to company confirmation

Consensus EPS

—

Last quarter EPS $0.34

Avg. next-day move over the last 6 reports

±15.3%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 0 of its 5-year rangeCheap

5-year range 20.3 – 282.3 · Median 102.8

Last 4 quarters: $975M in buybacks + $0 in dividends, 15.74% of market cap combined

P/E (TTM)

15.3

P/B

2.4

P/S

2.1

PEG

0.80

Earnings Reaction

Over the last 6 reports, the stock moved ±15.3% on average on the first trading day after, rising 1 times

Most recent −21.90%

Guidance Credibility

Of the last 2 next-quarter revenue guides, 1 were met; actual results averaged 1.6% below guidance

Volatility & Correlation

1-year beta 0.86 · Correlation with S&P 500 0.19Tracks the market

Annualized volatility 58% vs. 13% for the S&P 500

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

No open-market buys or sells by officers or directors in the last 90 days.

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q2	0.72	+3.0%	74.2%	0.10	0.06	0.14	0.14
FY2026 Q1	0.69	+11.8%	73.6%	0.07	0.04	0.28	0.08
FY2025 Q4	0.85	+14.3%	80.7%	0.26	0.19	0.29	0.39
FY2025 Q3	0.74	+17.7%	78.1%	0.16	0.12	0.16	0.23
FY2025 Q2	0.69	+18.7%	78.2%	0.12	0.09	0.12	0.18
FY2025 Q1	0.62	+25.4%	76.8%	0.05	0.05	0.23	0.10
FY2024 Q4	0.74	+22.3%	81.7%	0.20	0.18	0.18	0.36
FY2024 Q3	0.63	+27.3%	80.5%	0.11	0.09	0.22	0.19
FY2024 Q2	0.58	+25.9%	81.1%	0.09	0.09	0.06	0.17
FY2024 Q1	0.49	+28.3%	78.9%	0.03	0.03	0.18	0.06
FY2023 Q4	0.61	+23.4%	83.4%	0.14	0.10	0.07	0.19
FY2023 Q3	0.49	+24.9%	81.1%	0.04	0.04	0.19	0.08

Peers

Largest by market cap in the sector · Latest quarterView Communication Services sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
TTD	Trade Desk (The)	$6.2B	—	+3.0%	74.2%	—	—
GOOGL	Alphabet Inc. (Class A)	$3.41T	14.5	+24.7%	59.7%	−18.67%	Neutral	Compare
GOOG	Alphabet Inc. (Class C)	$3.41T	14.5	+24.7%	59.7%	−18.35%	Neutral	Compare
META	Meta Platforms	$1.58T	21.2	+26.1%	79.3%	−15.19%	Neutral	Compare
NFLX	Netflix	$255B	17.3	+11.8%	52.8%	−10.78%	Neutral	Compare
DIS	Walt Disney Company (The)	$192B	22.4	+6.8%	—	+5.76%	Bullish	Compare
VZ	Verizon	$186B	10.9	+1.5%	—	−2.49%	Bearish	Compare
TMUS	T-Mobile US	$167B	15.8	+7.4%	—	−4.07%	Neutral	Compare
T	AT&T	$144B	11.0	+5.3%	—	−12.25%	Bullish	Compare

The View in One Line

Revenue grew only 3%, EPS missed by $0.06, guidance implies YoY decline, gross margin fell from 78.2% to 74.2%; growth engine weakening, bearish.

Updated 2026-09-23

View History

09-17Neutral → Bearish
Revenue up only 3%, EPS missed by $0.06, guidance implies yoy decline, gross margin fell from 78.2% to 74.2%: growth engine weakening, bearish.

Notable Institutional Holders

Renaissance Technologies$127MAdded +29%
Citadel Advisors · Ken Griffin$56.3MReduced −8%
Coatue Management$25.1MUnchanged 0%

As of 2026-06-30

Key Events

09-15Management Change
CEO Granted 7 Million Performance-Based Options
On September 14, 2026, the board granted CEO Jeff Green 7 million performance options with an exercise price of $14.97, vesting in seven tranches at stock prices of $18 to $105.Source ↗
09-04Restructuring
The Trade Desk Cuts About 15% of Staff, Launches Restructuring
The Trade Desk announced on September 3, 2026 that it is cutting about 15% of its workforce, expecting $39 million to $51 million in cash restructuring charges, with the plan largely complete in Q3 2026.Source ↗
07-13Management Change
Trade Desk Adds Penry Price to Board
Effective July 9, 2026, Penry Price became a Trade Desk director, joined the audit committee, and became chair of the compensation committee.Source ↗
06-09Management Change
Trade Desk Adds a Director and Expands Board
On June 5, 2026, Trade Desk appointed David Haddad as a Class III director and audit committee member, effective June 11, expanding the board from 5 to 6 members.Source ↗
06-01Management Change
The Trade Desk Appoints Nate Olmstead as CFO
The Trade Desk announced on June 1, 2026 the appointment of Nate Olmstead as CFO, effective July 9, succeeding interim CFO Tahnil Davis.Source ↗
05-29Management Change
Former Executive Jacobson Becomes Director and Receives Compensation
On May 24, 2026, The Trade Desk approved Samantha Jacobson's participation in the non-employee director compensation plan, with a $50,000 annual salary and $290,000 in equity grants.Source ↗
05-08Governance
Trade Desk Annual Meeting Completes Director Elections and Auditor Ratification
On May 4, 2026, The Trade Desk's annual meeting elected Andrea L. Cunningham and Jeff T. Green as Class I directors, approved executive compensation, and reappointed PricewaterhouseCoopers as auditor for fiscal 2026.Source ↗
05-08Management Change
Chief Strategy Officer Jacobson Resigns, Remains a Director
Samantha Jacobson notified The Trade Desk on May 7, 2026 that she is resigning as Chief Strategy Officer, effective May 18, and will continue to serve as a company director.Source ↗

Key Financial Trends

Quarterly Revenue ($B)0.7

Gross Margin74.2%

Free Cash Flow ($B)0.1