Balance Sheet: Assets
Quarterly Data
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 (quarterly data)
US$ in thousands
Based on: 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).
The analysis of the quarterly financial data reveals several notable trends in the company's asset structure over the reported periods.
- Cash and Cash Equivalents
- The cash and cash equivalents balance exhibited an overall upward trend from March 31, 2020, through June 30, 2022, largely increasing from approximately $325 million to nearly $995 million. Subsequently, there was a decline into early 2023 followed by some fluctuation, with peaks in late 2023 and early 2024, reaching over $1.2 billion at one point. However, towards the most recent quarters ending in June 2025, the balance decreased significantly to approximately $896 million.
- Short-Term Investments, Net
- Short-term investments showed consistent growth over the entire period, increasing from $121 million in early 2020 to a peak of nearly $791 million by June 2025. Despite some minor fluctuations, the trend reflects an increasing allocation to short-term investments, suggesting a strategy of enhanced liquidity or capital preservation.
- Accounts Receivable, Net of Allowance for Credit Losses
- Accounts receivable followed a generally increasing trajectory, rising from approximately $948 million in early 2020 to more than $3.2 billion by the most recent quarter. This consistent increase signals rising sales or revenues, though the rapid growth may warrant monitoring for collection efficiency and credit risk management given the scale of outstanding receivables.
- Prepaid Expenses and Other Current Assets
- This category fluctuated throughout the period, generally ranging between approximately $48 million and $117 million. There was a notable decline starting in late 2022 but recovery toward mid-2024. The variability suggests changing prepayment and current asset management practices or variations in the timing of expenses.
- Current Assets
- Total current assets increased markedly over the period, from roughly $1.44 billion in early 2020 to a peak surpassing $5.3 billion by March 2025. Growth in current assets is primarily driven by the increases in accounts receivable, cash, and short-term investments, indicating expanding operational scale and liquidity position.
- Property and Equipment, Net
- Net property and equipment values showed gradual growth overall, moving from around $79 million to nearly $310 million. Growth was steady but included some intermittent declines, reflecting ongoing investment offset by depreciation and possible disposals.
- Operating Lease Assets
- Operating lease assets remained relatively stable, with fluctuations in a range between approximately $197 million and $279 million. The values slightly decreased after 2021 but exhibited some upward movement in 2024 and 2025, indicating adjustments in lease portfolio or accounting treatments.
- Deferred Income Taxes
- Deferred income taxes displayed a consistent increase over time, starting near $19 million and rising substantially to nearly $229 million by mid-2025. This rise may reflect growing temporary differences between book and tax accounting, possibly due to expanding asset base or accrued liabilities.
- Other Assets, Non-Current
- Other non-current assets exhibited gradual growth with minor fluctuations, increasing from about $27 million to $96 million. The increments suggest ongoing capital investment or accumulation of intangible or long-term assets.
- Non-Current Assets
- Total non-current assets steadily increased from approximately $325 million to around $904 million. This growth aligns with the expansions observed in property, equipment, lease assets, deferred taxes, and other long-term assets.
- Total Assets
- Total assets grew significantly from approximately $1.77 billion in early 2020 to a peak exceeding $6.1 billion by March 2025, underscoring substantial business growth and asset accumulation. Though some quarters showed minor declines, the overall trend is one of considerable expansion in both current and non-current assets.
In summary, the company demonstrated strong asset growth driven particularly by increases in accounts receivable, cash equivalents, and short-term investments. Non-current assets also rose steadily, reflective of ongoing capital expenditures and lease accounting effects. The consistent rise in deferred income taxes may require attention for tax planning. Fluctuations in prepaid expenses and cash levels in later periods suggest active asset management adjustments. Overall, the trend indicates significant scaling in operational size and financial resources over the analyzed timeframe.