Trade Desk Inc (TTD)

Financial leverage 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 assets US$ in thousands 5,957,810 5,705,440 6,111,950 5,505,320 5,159,920 4,663,800 4,888,690 4,520,430 4,346,970 3,999,640 4,380,680 3,923,950 3,672,750 3,432,720 3,577,340 2,988,760 2,792,950 2,602,700 2,753,640 2,138,430
Total stockholders’ equity US$ in thousands 2,695,830 2,716,680 2,949,140 2,625,750 2,405,410 2,166,560 2,164,220 2,155,530 2,071,410 1,940,810 2,115,340 1,914,290 1,779,830 1,649,100 1,527,310 1,302,810 1,202,350 1,084,310 1,013,140 832,627
Financial leverage ratio 2.21 2.10 2.07 2.10 2.15 2.15 2.26 2.10 2.10 2.06 2.07 2.05 2.06 2.08 2.34 2.29 2.32 2.40 2.72 2.57

June 30, 2025 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $5,957,810K ÷ $2,695,830K
= 2.21

The financial leverage ratio of Trade Desk Inc exhibits a relatively stable pattern over the observed period, indicating a consistent approach to leveraging debt relative to equity. Starting at a high of 2.57 on September 30, 2020, the ratio experienced an upward trend until reaching a peak at 2.72 by December 31, 2020. Subsequently, the ratio declined, reaching its lowest point of approximately 2.05 on September 30, 2022, reflecting a reduction in leverage or an increase in equity relative to debt during that period.

Throughout 2022 and into 2023, the ratio remained relatively stable, fluctuating narrowly around 2.06 to 2.10, demonstrating a period of leverage normalization. In late 2023, the ratio saw a modest uptick to 2.26, indicating a slight increase in leverage. Moving into 2024 and 2025, the ratio stabilized again, maintaining values predominantly around 2.10 with minor fluctuations between 2.07 and 2.21.

Overall, the data reflects a pattern of cautious leverage management, maintaining a leverage ratio within a narrow band, suggesting an emphasis on balanced capital structure rather than aggressive debt utilization. The slight fluctuations over time may indicate strategic adjustments in capital structure or responses to market or operational developments, yet the company's leverage remains moderate and consistent throughout the period.