Question 1

What is Trade Desk's P/B ratio?

Accepted Answer

Trade Desk (TTD) P/B ratio is 3.4× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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 P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Trade Desk?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Trade Desk specifically, the relevant sector benchmark is the current sector median of 5.6×.

Question 5

Is Trade Desk's P/B ratio high or low?

Accepted Answer

Trade Desk's P/B ratio of 3.4× is below its own 5-year average of 16.7× and below the sector median of 5.6×. 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 P/B ratio range?

Accepted Answer

In the available daily series, Trade Desk (TTD) P/B ratio has ranged from a low of 3.4× in 2026 to a high of 42.8× in 2021. The 5-year average is 16.7× and the 5-year median is 17.0×.

Question 7

What was Trade Desk's P/B ratio in 2025?

Accepted Answer

Trade Desk (TTD) P/B ratio at the end of 2025 was 7.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Trade Desk's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$2.48B	7.3×	-12.4×	Dec 31, 2025
2024	$58.1B	$2.95B	19.7×	+3.4×	Dec 31, 2024
2023	$35.2B	$2.16B	16.3×	+5.9×	Dec 31, 2023
2022	$21.9B	$2.12B	10.4×	-18.5×	Dec 31, 2022
2021	$44.1B	$1.53B	28.9×	-8.2×	Dec 31, 2021
2020	$37.6B	$1.01B	37.1×	+18.0×	Dec 31, 2020
2019	$11.7B	$613M	19.1×	+6.4×	Dec 31, 2019
2018	$5.02B	$395M	12.7×	+5.1×	Dec 31, 2018
2017	$1.88B	$246M	7.6×	+1.1×	Dec 31, 2017
2016	$1.07B	$164M	6.5×	-30.6×	Dec 31, 2016
2015	$1.42B	$38.3M	37.1×	—	Dec 31, 2015


Zebra Technologies (ZBRA)	2.9×
Zoom Communications (ZM)	2.9×
Fortive (FTV)	2.9×
IREN (IREN)	2.8×
Trimble (TRMB)	2.7×
Twilio (TWLO)	2.5×
Amkor Technology (AMKR)	2.5×
First Solar (FSLR)	2.1×
EPAM Systems (EPAM)	2.1×
Qorvo (QRVO)	2.1×
IonQ (IONQ)	2.1×
Intel (INTC)	2.0×
Roper Technologies (ROP)	2.0×
Cognizant (CTSH)	1.9×
Okta (OKTA)	1.9×
Super Micro Computer (SMCI)	1.8×
Lyft (LYFT)	1.7×
Block (XYZ)	1.7×
Hewlett Packard Enterprise (HPE)	1.5×
Fidelity National Information Services (FIS)	1.5×
Skyworks Solutions (SWKS)	1.4×
Fiserv (FISV)	1.1×
Sunrun (RUN)	1.0×
Strategy (MSTR)	0.9×
IBM (IBM)	0.0×

P/B Ratio for Trade Desk (TTD) 2015-2026

P/B Ratio daily chart for Trade Desk (TTD)

Historical P/B Ratio for Trade Desk (TTD) from 2015 to 2025

About P/B Ratio at Trade Desk (TTD)

Trade Desk P/B Ratio by Year

Trade Desk P/B Ratio 2025: 7.3×

Trade Desk P/B Ratio 2024: 19.7×

Trade Desk P/B Ratio 2023: 16.3×

Trade Desk P/B Ratio 2022: 10.4×

Trade Desk P/B Ratio 2021: 28.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Trade Desk (TTD) Key Financials