Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Trade Desk Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Accounts Payable
- The proportion of accounts payable relative to total liabilities and stockholders’ equity demonstrated fluctuations over the observed timeframe. Starting at 37.54% in early 2020, it rose to a peak of approximately 48.97% by the end of 2020. Subsequently, it declined gradually, fluctuating around the low to mid-40% range, ending near 46.48% in the latest quarter. The early spikes may indicate increased short-term obligations or supplier financing, while the later stabilization suggests a more consistent management of payables.
- Accrued Expenses and Other Current Liabilities
- This component remained relatively stable, mostly between 2.1% and 3.2% of total liabilities and equity across all periods. Minor oscillations did not suggest any major shifts in accrued liabilities management. There is a slight upward trend in the last few quarters, ending at around 2.7%, which might point to incremental increases in accrued expenses.
- Operating Lease Liabilities, Current
- Current operating lease liabilities varied mostly within a narrow band between 1.0% and 1.7%. The highest observed value was 1.7% in mid-2020, followed by a gradual reduction, leveling off slightly above 1.2% in recent periods, suggesting relatively consistent leasing commitments over time with modest declines.
- Current Liabilities
- Current liabilities accounted for roughly 40% to 53.5% of total liabilities and stockholders’ equity, peaking at 53.55% in late 2020. After this peak, a reduction was observed, with levels generally residing around the mid to high 40% range. The fluctuations suggest variations in short-term obligations over quarters, with late 2023 showing an increase to over 50% again.
- Operating Lease Liabilities, Non-Current
- Non-current lease liabilities showed a clear decreasing trend from 11.58% in early 2020 down to around 3.69%-5.1% in the recent periods. This steady decline indicates substantial repayment or reclassification of long-term leasing obligations occurring during the timeframe.
- Debt, Net
- Net debt was reported only at the beginning of the dataset (early 2020) with values around 8%. No subsequent data was provided, indicating either full repayment or removal of this item from the balance sheet structure over time.
- Other Liabilities, Non-Current
- This category remained minimal and stable, generally below 1%, showing only slight variability without significant trends, indicative of stable non-core liabilities or obligations.
- Non-Current Liabilities
- Non-current liabilities decreased markedly from above 20% at the start (March 2020) down to approximately 4.5%-5.8% in later years. This reduction aligns with the decline seen in non-current lease liabilities and likely represents a broader trend of reducing long-term obligations.
- Total Liabilities
- Total liabilities ranged from about 58.99% to 63.21% in 2020, then declined to just above 50% in later years, with some minor increases during late 2023 and 2024 quarters. This downward movement reflects the reduced long-term liabilities and consistent but moderately variable short-term liabilities.
- Additional Paid-in Capital
- Additional paid-in capital increased steadily from about 23.64% in early 2020 to nearly 50% by the end of the dataset. This consistent growth suggests ongoing equity infusion or retained earnings being recorded within equity, contributing significantly to the financing structure.
- Retained Earnings (Accumulated Deficit)
- Retained earnings exhibited a notable pattern: increasing from 14.49% in early 2020 to a peak near 20.21% during late 2021, followed by a sharp decline through late 2023, turning negative and reaching approximately -6.14% towards the end. This decline may reflect sustained operational losses or significant distributions, negatively impacting accumulated earnings.
- Stockholders’ Equity
- Equity as a proportion of total liabilities and stockholders’ equity initially rose from 38.14% to over 43% by mid-2021, then fluctuated around 44-48% through 2023. However, a decline below 44% in the final reported quarters corresponds with the drop in retained earnings, indicating a weakening overall equity base.
- Total Liabilities and Stockholders’ Equity
- The sum remained constant at 100%, as expected given the percentage basis of all figures.