---
title: Trade Desk (TTD) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/ttd
ticker: TTD
as_of: 2026-10-17
sector: Communication Services
industry: Advertising Agencies
---
# Trade Desk (TTD)

Trade Desk (TTD) closed at $12.23 on Oct 16, 2026, undervalued by 5% vs its model value of $12.92 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $12.23 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $12.92 |
| Price vs model | undervalued by 5% vs model |
| Range of that model | $9.50 – $22.70 |
| Market value | $5.8B |
| P/E (fiscal 2025) | 13.6 |
| Net margin (fiscal 2025) | 15.3% |
| Free cash flow (fiscal 2025) | $795.7M |
| Dividend yield (trailing twelve months) | 0.00% |
| Beta | 0.99 |
| Cost of capital (WACC) | 9.21% |
| Business classification | Mature & Stable (High revenue growth (~22% recent), Moderate margins (15% net margin), Moderately volatile earnings, Strong FCF yield (13.8%)) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Highest free cash flow yield | #13 | 13.8% | https://sweetvaluelab.com/lists/highest-free-cash-flow-yield |
| Near 52-week lows | #13 | +2.6% | https://sweetvaluelab.com/lists/near-52-week-lows |
| Worst performing this year | #2 | −67.8% | https://sweetvaluelab.com/lists/worst-performing-this-year |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $12.92 | $9.50 | $22.70 |
| DCF · Perpetuity growth · 10y | cross check | $12.90 | $9.72 | $21.81 |
| DCF · EBITDA exit · 5y | cross check | $10.84 | $6.43 | $16.08 |
| DCF · EBITDA exit · 10y | cross check | $11.44 | $7.67 | $16.59 |
| P/E · peers | cross check | $13.99 | $6.78 | $33.79 |
| P/E · own history | cross check | $126.20 | $44.85 | $198.94 |
| PEG | sanity check | $3.14 | $3.14 | $3.14 |
| EV/EBITDA · peers | cross check | $10.46 | $5.37 | $14.64 |
| EV/Revenue · peers | cross check | $4.58 | $3.51 | $7.62 |
| Earnings power value | cross check | $8.85 | $7.79 | $10.31 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 14, 2026 | Green Jeffrey Terry | President and CEO | Grant / award | 7,000,000 | $0 |
| Sep 14, 2026 | Davis Tahnil R. | Chief Accounting Officer & EVP | Grant / award | 217,233 | $0 |
| Sep 14, 2026 | GRANT JAY R | Chief Legal Officer | Grant / award | 398,262 | $0 |
| Sep 14, 2026 | Kundra Vivek | Chief Operating Officer | Grant / award | 724,112 | $0 |
| Sep 14, 2026 | Olmstead Nathan | Chief Financial Officer | Grant / award | 398,262 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 8, 2026 | DEFA14A | Additional proxy materials | https://www.sec.gov/Archives/edgar/data/1671933/000167193326000105/specialmeetingproxysupplem.htm |
| Sep 18, 2026 | DEF 14A | Proxy statement | https://www.sec.gov/Archives/edgar/data/1671933/000167193326000102/a2026specialmeetingdefinit.htm |
| Sep 15, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/1671933/000167193326000099/ttd-20260914.htm |
| Sep 8, 2026 | PRE 14A | Preliminary proxy statement | https://www.sec.gov/Archives/edgar/data/1671933/000167193326000095/a2026specialmeetingprelimp.htm |
| Sep 4, 2026 | 8-K | 2.05 Costs of Exit or Disposal | https://www.sec.gov/Archives/edgar/data/1671933/000119312526382690/d118889d8k.htm |

## About

The Trade Desk, Inc. is a global technology company that provides a self-service, cloud-based platform. This platform enables advertising buyers to efficiently create, manage, and optimize data-driven digital ad campaigns across diverse formats and channels, including display, video, audio, native, and social media, reaching audiences on computers, mobile devices, and connected TVs. In addition to the platform, the company offers various data and value-added services. Their primary clients are advertising agencies and other service providers who represent advertisers. The Trade Desk was founded in 2009 and is headquartered in Ventura, California.

---

Source: https://sweetvaluelab.com/stocks/ttd (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.