Direct Answer
The Trade Desk reported revenue of $2.9 billion for the fiscal year ended December 31, 2025, with an operating margin of 20.3% and net income of $443 million, according to its SEC filings. Revenue grew 18.5% from the prior year.
What Are The Trade Desk's Key Financial Figures?
| Fiscal year | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended December 31, 2022 |
|---|---|---|---|---|
| Revenue | $2.9 billion | $2.4 billion | $1.9 billion | $1.6 billion |
| Operating income | $589 million | $427 million | $200 million | $114 million |
| Operating margin | 20.3% | 17.5% | 10.3% | 7.2% |
| Net income | $443 million | $393 million | $179 million | $53 million |
| Net margin | 15.3% | 16.1% | 9.2% | 3.4% |
| Operating cash flow | $993 million | $739 million | $598 million | $549 million |
| Capital expenditures | $197 million | $98 million | $47 million | $84 million |
| Free cash flow | $796 million | $641 million | $552 million | $465 million |
Operating margin widened by 2.9 percentage points between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was $796 million against net income of $443 million; cash generation covered reported earnings.
What Does The Trade Desk's Balance Sheet Show?
| Cash and cash equivalents | $658 million |
|---|---|
| Long-term debt | Not reported |
| Total assets | $6.2 billion |
| Total liabilities | $3.7 billion |
| Shareholders' equity | $2.5 billion |
| Current ratio | 1.6x |
Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value The Trade Desk reported in its own SEC filings, read from the SEC's XBRL data (accession 0001671933-26-000014 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was The Trade Desk's revenue in fiscal 2025?
The Trade Desk reported revenue of $2.9 billion for the fiscal year ended December 31, 2025, according to its SEC filings.
What is The Trade Desk's operating margin?
The Trade Desk's operating margin was 20.3% in fiscal 2025: operating income of $589 million on revenue of $2.9 billion.
How much free cash flow did The Trade Desk generate?
Operating cash flow of $993 million less capital expenditures of $197 million gives free cash flow of $796 million for fiscal 2025.