The Trade Desk, Inc. (BMV:TTD)

The Trade Desk Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	443.3	393.08	178.94	53.39	137.76
Depreciation & Amortization	100.78	71.49	66.42	47.43	37.22
Other Amortization	15	16	14	7	5
Stock-Based Compensation	490.63	494.7	491.62	498.64	337.41
Provision & Write-off of Bad Debts	-	-	-	3.2	1.46
Other Operating Activities	218.14	-26.53	-30.06	33.23	29.34
Change in Accounts Receivable	-432.72	-474.23	-554.01	-291.75	-444.34
Change in Accounts Payable	291.07	298.92	475.46	187.12	309.41
Change in Other Net Operating Assets	-133.48	-33.97	-44.05	10.48	-34.75
Operating Cash Flow	992.72	739.46	598.32	548.73	378.51
Operating Cash Flow Growth	34.25%	23.59%	9.04%	44.97%	-6.56%
Capital Expenditures	-197.01	-98.24	-46.79	-84.16	-54.8
Cash Acquisitions	-4.35	-	-	-	-13.26
Sale (Purchase) of Intangibles	-12.75	-8.82	-8.23	-7.73	-5.17
Investment in Securities	-78.52	-50.45	-52.57	-212.49	-20.4
Investing Cash Flow	-292.63	-157.51	-107.59	-304.37	-93.64
Issuance of Common Stock	66.7	266.27	99.01	80.59	90.71
Repurchase of Common Stock	-1,478	-373.88	-725.11	-48.6	-56.86
Other Financing Activities	-	-	-	-	-1.92
Financing Cash Flow	-1,411	-107.61	-626.11	31.99	31.93
Net Cash Flow	-711.29	474.33	-135.38	276.35	316.8
Free Cash Flow	795.71	641.22	551.53	464.57	323.71
Free Cash Flow Growth	24.09%	16.26%	18.72%	43.52%	-2.21%
Free Cash Flow Margin	27.47%	26.23%	28.34%	29.45%	27.05%
Free Cash Flow Per Share	1.61	1.28	1.10	0.93	0.65
Cash Interest Paid	0.99	0.99	0.97	1	0.52
Cash Income Tax Paid	150.11	158.58	151.9	4.21	3.61
Levered Free Cash Flow	601.55	613.52	585.07	483.28	270.78
Unlevered Free Cash Flow	602.66	614.46	586.11	485.79	271.42
Change in Working Capital	-275.13	-209.28	-122.6	-94.15	-169.68

Source: S&P Global Market Intelligence. Standard template. Financial Sources.