Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Trade Desk Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2016
- Return on Assets (ROA) since 2016
- Debt to Equity since 2016
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Trade Desk Inc., consolidated balance sheet: assets
US$ in thousands
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The financial data indicates a generally positive trend in asset growth over the five-year period, with total assets increasing substantially from US$2,753,645 thousand in 2020 to US$6,111,951 thousand in 2024. This reflects an overall expansion in the company's asset base.
- Cash and cash equivalents
- There is a significant rise in cash and cash equivalents, more than tripling from approximately US$437 million in 2020 to about US$1.37 billion in 2024. The peak occurred in 2022 at over US$1 billion before a slight dip in 2023 and a strong recovery in 2024.
- Short-term investments, net
- Short-term investments also show a steady increase, growing from roughly US$187 million in 2020 to US$552 million in 2024. The increase is steady and accelerates slightly after 2021.
- Accounts receivable, net of allowance for credit losses
- Accounts receivable grew consistently each year, rising from about US$1.58 billion in 2020 to over US$3.33 billion in 2024. This suggests expanding business volume or extended credit terms with customers.
- Prepaid expenses and other current assets
- Prepaid expenses and other current assets fluctuated during the period. After a moderate increase from 2020 to 2021, the balance dropped sharply in 2022, then gradually increased through 2024, indicating adjustments in payment timing or asset classification.
- Current assets
- The total current assets increased consistently, nearly doubling from US$2.31 billion in 2020 to exceed US$5.33 billion in 2024. This growth aligns with the increases in cash, short-term investments, and accounts receivable.
- Property and equipment, net
- Property and equipment experienced modest growth but showed a decline in 2023 before rising sharply again in 2024. The net increase from US$116 million in 2020 to US$209 million in 2024 may reflect new asset acquisitions or capital expenditures.
- Operating lease assets
- Operating lease assets decreased steadily from 2020 through 2023, dropping from US$248 million to US$198 million, followed by a notable increase in 2024 back to US$264 million. This suggests lease term expirations or reclassifications followed by renewed leasing activity.
- Deferred income taxes
- Deferred income taxes increased substantially over the period, from approximately US$50 million in 2020 to US$230 million in 2024, more than quadrupling. This growth likely reflects the rising temporary differences between book and tax income as the company expands.
- Other assets, non-current
- Other non-current assets increased gradually from about US$29 million in 2020 to US$72 million in 2024, showing a steady but moderate expansion in long-term miscellaneous assets.
- Non-current assets
- Overall, non-current assets rose steadily from US$443 million in 2020 to US$775 million in 2024, indicating sustained investment in long-term resources.
- Total assets
- Total assets display a consistent upward trend, nearly doubling in size over the period. This growth is driven primarily by increases in current assets, especially accounts receivable, cash, and short-term investments, supplemented by moderate growth in non-current assets.