Trade Desk, Inc. (TTD)

Services-Computer Programming, Data Processing, Etc.

Latest Price

$13.06

TTM P/E

15.55

Normalized P/E

31.33

TTM Div Yield

Fwd Div Yield

Book Value

5.50

P/B Ratio

2.38

Valuation metrics

EPS: $0.90

Book value / share: $5.03

Formula: √(22.5 × EPS × BVPS)

Graham Number

$10.10

21% downside

Norm. op. income: $144M (median of 7yr)

Tax rate: 33%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$4.61

64% downside

Base FCF: $552M (median of recent 5yr)

Growth: 21%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$66.75

+423% upside

EPS: $0.90

Target P/E: 31×

Formula: EPS × P/E

P/E Fair Value

$27.90

+118% upside

85.8% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	32.67M	$590.0M	6.93%	-4.85M	2026-06-30
State Street Corp	31.29M	$565.0M	6.64%	-13.65M	2026-06-30
Vanguard Capital Management LLC	27.90M	$504.0M	5.92%	-745.6K	2026-06-30
Vanguard Portfolio Management LLC	19.38M	$350.0M	4.11%	-3.06M	2026-06-30
Two Sigma Investments, LP	17.56M	$317.0M	3.72%	--	2026-06-30
Geode Capital Management, LLC	16.13M	$291.0M	3.42%	+2.15M	2026-06-30
Invesco Ltd.	13.76M	$248.0M	2.92%	+5.38M	2026-06-30
Goldman Sachs Group Inc	13.54M	$244.0M	2.87%	+4.61M	2026-06-30
Citadel Advisors LLC	12.03M	$217.0M	2.55%	+98.7K	2026-06-30
Jane Street Group, LLC	11.19M	$202.0M	2.37%	+2.37M	2026-06-30