Trade Desk Inc (TTD)

Quick 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
Cash US$ in thousands 896,387 1,118,540 1,369,460 1,221,480 1,009,360 918,200 895,129 1,071,760 965,831 892,702 1,030,510 994,656 932,683 844,223 754,154 576,916 476,907 471,637 437,353 434,371
Short-term investments US$ in thousands 790,874 621,826 552,026 510,290 497,168 501,360 485,159 450,117 465,113 437,730 416,080 326,745 280,459 260,347 204,625 221,685 228,150 208,446 186,685 122,909
Receivables US$ in thousands 3,254,910 3,051,930 3,330,340 2,989,390 2,905,530 2,619,280 2,870,310 2,434,050 2,346,070 2,086,330 2,347,200 2,026,930 1,902,500 1,760,980 2,020,720 1,624,760 1,527,650 1,368,670 1,584,110 1,139,860
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
Quick ratio 1.68 1.79 1.83 1.81 1.75 1.77 1.69 1.84 1.84 1.87 1.87 1.88 1.87 1.85 1.65 1.70 1.68 1.62 1.50 1.68

June 30, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($896,387K + $790,874K + $3,254,910K) ÷ $2,948,980K
= 1.68

The quick ratio of Trade Desk Inc. exhibits a generally stable and favorable liquidity position over the analyzed period. Starting at 1.68 as of September 30, 2020, the ratio experienced slight fluctuations but maintained a level above 1.50 throughout the subsequent quarters. The ratio peaked at approximately 1.88 in September 2022, indicating a strong short-term liquidity position with ample liquid assets relative to current liabilities.

During the latter part of 2022 through early 2024, the quick ratio remained relatively steady within the 1.84 to 1.87 range, suggesting consistent liquidity management. Notably, there was a decline to 1.69 by the end of December 2024, which represents a decrease from previous highs but still indicates a robust liquidity cushion. In the following periods, the ratio slightly increased to 1.81 in September 2024 before declining again to approximately 1.68 by June 2025.

Overall, the data indicates that Trade Desk Inc. has maintained a healthy quick ratio consistently above 1.5, demonstrating a sound ability to meet short-term obligations with liquid assets. The fluctuations observed are within a narrow range, reflecting stable liquidity management with no significant signs of liquidity distress over the period analyzed.