Balance Sheet: Liabilities and Stockholders’ Equity
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.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Trade Desk Inc. pages available for free this week:
- Common-Size Income Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2016
- Return on Assets (ROA) since 2016
- Total Asset Turnover since 2016
- Price to Operating Profit (P/OP) since 2016
- Price to Book Value (P/BV) since 2016
- Aggregate Accruals
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Trade Desk Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
The analysis of the liability and equity structure indicates a period of significant expansion in total obligations and a fundamental shift in the composition of stockholders' equity between March 2021 and March 2026.
- Current and Total Liabilities
- Total liabilities exhibit a consistent upward trajectory, increasing from approximately $1.52 billion in March 2021 to $3.28 billion by March 2026. This growth is primarily driven by accounts payable, which climbed from $1.14 billion to $2.63 billion over the same period. Current liabilities remained the dominant component of the total liability profile, consistently outweighing non-current liabilities throughout the observed timeframe.
- Non-Current Obligations
- Non-current liabilities showed relative stability through 2022 but experienced a notable increase starting in 2023, rising from $213.6 million in December 2023 to $390.5 million by March 2026. This increase is largely attributed to a rise in non-current operating lease liabilities, which expanded from $180.4 million to $346.1 million in the same timeframe.
- Paid-in Capital and Equity Growth
- Additional paid-in capital demonstrated robust growth, increasing from $587.3 million in March 2021 to $3.18 billion by March 2026. This indicates substantial capital infusions or the cumulative impact of equity-based compensation. Consequently, stockholders' equity grew from $1.08 billion to a peak of $2.95 billion in December 2024 before moderately declining to $2.45 billion by March 2026.
- Retained Earnings Volatility
- A significant reversal is observed in retained earnings. After peaking at $612.1 million in December 2021, the balance entered a sustained decline. The account transitioned from a positive balance to an accumulated deficit, reaching negative $162.4 million in June 2025 and further deteriorating to negative $725.0 million by March 2026. This trend indicates that losses or distributions significantly exceeded earnings during the latter half of the observed period.
- Overall Capitalization Trend
- The total balance sheet size, represented by total liabilities and stockholders' equity, expanded from $2.60 billion in March 2021 to a peak of $6.15 billion in September 2025, before concluding at $5.73 billion in March 2026. The shift in the equity-to-liability ratio reflects a growing reliance on operational liabilities and a deepening deficit in retained earnings, which was partially offset by the increase in paid-in capital.