Trade Desk Inc (TTD)

Current ratio

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Total current assets	US$ in thousands	5,053,720	4,856,340	5,336,460	4,838,370	4,522,840	4,096,420	4,313,950	4,013,810	3,831,760	3,475,860	3,845,620	3,415,360	3,196,180	2,955,340	3,091,650	2,515,920	2,347,270	2,170,150	2,310,320	1,755,990
Total current liabilities	US$ in thousands	2,948,980	2,682,060	2,873,460	2,615,090	2,518,390	2,283,350	2,510,840	2,147,160	2,050,980	1,830,350	2,029,320	1,785,240	1,665,070	1,545,800	1,803,300	1,427,900	1,328,570	1,263,480	1,474,680	1,012,150
Current ratio		1.71	1.81	1.86	1.85	1.80	1.79	1.72	1.87	1.87	1.90	1.90	1.91	1.92	1.91	1.71	1.76	1.77	1.72	1.57	1.73

June 30, 2025 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $5,053,720K ÷ $2,948,980K
= 1.71

The current ratio of Trade Desk Inc over the analyzed period demonstrates a relatively stable liquidity position, with values predominantly ranging between approximately 1.57 and 1.92. In the period from September 30, 2020, to September 30, 2021, the ratio fluctuated modestly, starting at 1.73 and reaching a peak of 1.77, indicating a consistent ability to cover short-term liabilities with short-term assets.

Between December 31, 2021, and September 30, 2022, the current ratio experienced a slight upward trend, surpassing 1.90 and peaking at 1.92, suggesting an improved short-term liquidity buffer during this period. This elevated ratio indicates that the company maintained more than sufficient current assets relative to current liabilities, potentially reflecting prudent liquidity management or increased current asset holdings.

From late 2022 through mid-2023, the ratio maintained its stability near 1.87 to 1.90, reinforcing a consistent liquidity position. However, a decline is observed at the end of 2023, where the ratio decreased to 1.72. Despite this reduction, the ratio remained above 1.70, indicating the company's ability to meet its short-term obligations was still intact, albeit with a slightly tighter margin.

The early months of 2024 show a modest recovery, with the ratio increasing to approximately 1.79 and 1.80. It increases further to around 1.85 and 1.86 in mid-2024, reflecting a slight improvement in liquidity. Nonetheless, this upward trend appears to stabilize, with the ratio maintaining close to 1.81 to 1.86 into the first half of 2025.

Overall, the trend indicates that Trade Desk Inc has maintained a consistently healthy current ratio throughout the period, generally comfortably above the critical threshold of 1.0. The fluctuations suggest periods of slight liquidity tightening and easing but do not indicate any significant liquidity concerns. The ratios imply effective short-term financial management, allowing the company to meet its obligations with a reasonable buffer, while the minor declines towards the end of the period could warrant continued monitoring to ensure liquidity remains robust.