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Trade Desk, Inc. cash flow statement

In fiscal 2025, Trade Desk, Inc.'s operations generated $993m of cash; it spent $197m on capital projects, leaving free cash flow of $796m. It returned $1.38bn through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations753187604053795495987399931,082
Depreciation and amortisation4712222942548087116127
Stock-based pay5214281112337499492495491452
Capital spending71020367455844798197219
Free cash flow68216725331324465552641796863
Free cash flow after stock pay63−025−56219−14−3460147305411
Share buybacks54————006472351,380975

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Trade Desk, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Trade Desk, Inc.