Question 1

What is Trade Desk's EV/EBITDA ratio?

Accepted Answer

Trade Desk (TTD) EV/EBITDA ratio is 9.4× as of July 22, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Trade Desk?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Trade Desk specifically, the relevant sector benchmark is the current sector median of 20.3×.

Question 5

Is Trade Desk's EV/EBITDA ratio high or low?

Accepted Answer

Trade Desk's EV/EBITDA ratio of 9.4× is below its own 5-year average of 142.6× and below the sector median of 20.3×. That places the current reading at the 0th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Trade Desk's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Trade Desk (TTD) EV/EBITDA ratio has ranged from a low of 9.3× in 2026 to a high of 685.8× in 2023. The 5-year average is 142.6× and the 5-year median is 107.5×.

Question 7

What was Trade Desk's EV/EBITDA ratio in 2025?

Accepted Answer

Trade Desk (TTD) EV/EBITDA ratio at the end of 2025 was 22.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Trade Desk's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$18.2B	$775M	22.4×	-72.5×	Dec 31, 2025
2024	$58.1B	$595M	94.9×	-2.9×	Dec 31, 2024
2023	$35.2B	$348M	97.8×	-15.6×	Dec 31, 2023
2022	$21.9B	$183M	113.4×	-149.7×	Dec 31, 2022
2021	$44.1B	$165M	263.1×	+47.6×	Dec 31, 2021
2020	$37.6B	$173M	215.5×	+127.7×	Dec 31, 2020
2019	$11.7B	$133M	87.8×	+47.4×	Dec 31, 2019
2018	$5.02B	$119M	40.4×	+17.2×	Dec 31, 2018
2017	$1.88B	$75.4M	23.2×	+4.3×	Dec 31, 2017
2016	$1.07B	$50.7M	19.0×	-24.3×	Dec 31, 2016
2015	$1.42B	$33.8M	43.3×	—	Dec 31, 2015


Super Micro Computer (SMCI)	10.8×
Adobe (ADBE)	10.6×
Dell Technologies (DELL)	10.6×
NetApp (NTAP)	10.5×
PTC (PTC)	10.2×
Qorvo (QRVO)	10.2×
GoDaddy (GDDY)	10.1×
Gartner (IT)	10.1×
QUALCOMM (QCOM)	9.9×
Ondas Holdings (ONDS)	9.9×
EPAM Systems (EPAM)	9.6×
Accenture (ACN)	9.4×
Science Applications International (SAIC)	9.2×
Skyworks Solutions (SWKS)	9.2×
Amkor Technology (AMKR)	8.7×
Gen Digital (GEN)	8.3×
First Solar (FSLR)	8.3×
Corpay (CPAY)	8.3×
Paycom Software (PAYC)	8.1×
Zoom Communications (ZM)	7.5×
Fiserv (FISV)	7.4×
Cognizant (CTSH)	7.1×
HP (HPQ)	6.4×
Fidelity National Information Services (FIS)	4.8×
IBM (IBM)	3.8×

EV/EBITDA for Trade Desk (TTD) 2015-2026

EV/EBITDA daily chart for Trade Desk (TTD)

Historical EV/EBITDA for Trade Desk (TTD) from 2015 to 2025

About EV/EBITDA at Trade Desk (TTD)

Trade Desk EV/EBITDA by Year

Trade Desk EV/EBITDA 2025: 22.4×

Trade Desk EV/EBITDA 2024: 94.9×

Trade Desk EV/EBITDA 2023: 97.8×

Trade Desk EV/EBITDA 2022: 113.4×

Trade Desk EV/EBITDA 2021: 263.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Trade Desk (TTD) Key Financials