Does Trade Desk Stock Lead the Pack?
The Trade Desk (TTD) stock has significantly underperformed over the past year, but how does it truly stack up against peers in the dynamic ad-tech space as of December 11, 2025? A closer look reveals strong revenue growth and impressive free cash flow margins. However, TTD carries a premium valuation compared to many peers, suggesting limited upside if competition from larger players intensifies.
- TTD’s 18.9% operating margin trails META’s 43.2%, indicating META’s “walled garden” ad ecosystem enables superior efficiency and AI-driven scale.
- TTD’s 20.8% revenue growth outpaced GOOGL, AMZN, VZ but lagged META, DSP; reflecting competitive pressures and TTD’s Kokai platform rollout issues.
- TTD’s stock is down 72.4% with a P/E of 54.5, reflecting investor concern over delayed AI platform rollout and intense ad tech competition.
Here’s how Trade Desk stacks up across size, valuation, and profitability versus key peers.
| TTD | GOOGL | AMZN | META | VZ | DSP | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 18.1 | 3,776.0 | 2,449.5 | 1,642.9 | 170.1 | 0.2 |
| Revenue ($ Bil) | 2.8 | 385.5 | 670.0 | 189.5 | 137.5 | 0.3 |
| PE Ratio | 54.5 | 23.6 | 33.1 | 31.6 | 9.4 | 103.8 |
| LTM Revenue Growth | 20.8% | 13.4% | 10.9% | 21.3% | 2.4% | 23.0% |
| LTM Operating Margin | 18.9% | 32.2% | 11.4% | 43.2% | 23.0% | 1.6% |
| LTM FCF Margin | 24.3% | 19.1% | 2.0% | 23.7% | 15.0% | 5.6% |
| 12M Market Return | -72.4% | 60.5% | 0.0% | 3.5% | 2.4% | -44.3% |
For more details on Trade Desk, read Buy or Sell TTD Stock. Below we compare TTD’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| TTD | 20.8% | 25.6% | 23.3% | 31.9% |
| GOOGL | 13.4% | 13.9% | 8.7% | 9.8% |
| AMZN | 10.9% | 11.0% | 11.8% | 9.4% |
| META | 21.3% | 21.9% | 15.7% | -1.1% |
| VZ | 2.4% | 0.6% | -2.1% | 2.4% |
| DSP | 23.0% | 29.7% | 13.1% | -12.0% |
Operating Margin Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| TTD | 18.9% | 17.5% | 10.3% | 7.2% |
| GOOGL | 32.2% | 32.1% | 27.4% | 26.5% |
| AMZN | 11.4% | 10.8% | 6.4% | 2.4% |
| META | 43.2% | 42.2% | 34.7% | 24.8% |
| VZ | 23.0% | 21.3% | 21.4% | 22.3% |
| DSP | 1.6% | 1.2% | -8.2% | -25.0% |
PE Ratio Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| TTD | 54.5 | 146.8 | 196.8 | 408.9 |
| GOOGL | 23.6 | 23.3 | 23.9 | 19.2 |
| AMZN | 33.1 | 38.8 | 51.5 | -314.4 |
| META | 31.6 | 23.8 | 23.3 | 13.9 |
| VZ | 9.4 | 9.6 | 13.7 | 7.8 |
| DSP | 103.8 | 130.4 | -30.5 | -4.8 |
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