Price to Operating Profit (P/OP)
since 2016
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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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Calculation
Trade Desk Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income from operations1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 21, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2017 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Trade Desk Inc. Annual Report.
- Share Price Trends
- The share price exhibited a strong upward trend from February 2017 through February 2021, increasing from $3.34 to a peak of $90.34. This represents a significant appreciation over four years. Following this peak, the share price experienced a notable decline, falling to $66.30 by February 2023. Subsequently, it showed partial recovery, reaching $75.71 in February 2024, and then decreasing slightly to $72.06 by February 2025.
- Operating Profit Per Share (OPPS)
- Operating profit per share demonstrated steady growth over the observed period with some fluctuations. It rose from $0.15 in 2017 to $0.30 in 2021, marking a doubling in operating profitability per share over four years. A decrease occurred in the subsequent two years, falling to $0.23 in 2023. Afterwards, OPPS increased sharply to $0.41 in 2024 and continued its upward momentum to $0.86 in 2025, indicating strong improvement in operating profitability in the latest periods.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio, reflecting the price investors were willing to pay per unit of operating profit, rose substantially from 22.75 in 2017 to an extreme peak of 314.28 in 2022. This suggests that the market's valuation outpaced the growth in operating profits significantly during this time. After peaking, the ratio declined to 184.64 in 2024 and further to 83.69 in 2025, indicating a normalization of valuation multiples relative to operating profit as share prices moderated and operating profit rose sharply.
- Overall Insights
- The data indicates an initial phase of robust market enthusiasm driving share prices upwards faster than operating profit growth, as reflected by the rising P/OP ratio. The subsequent correction phase saw a notable decline in share price and a normalization of P/OP multiples, while operating profit per share experienced a rebound starting in 2023. The recent improvement in operating profit alongside a reduced yet still elevated P/OP ratio suggests that market expectations may be adjusting to improved company fundamentals. In summary, the company has shown strong operational earnings growth, but its market valuation has experienced significant fluctuations possibly driven by investor sentiment and expectations.
Comparison to Competitors
Trade Desk Inc., P/OP, long-term trends, comparison to competitors
| Trade Desk Inc. | Alphabet Inc. | Charter Communications Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | |
|---|---|---|---|---|---|---|
| Feb 21, 2025 | ||||||
| Feb 15, 2024 | ||||||
| Feb 15, 2023 | ||||||
| Feb 16, 2022 | ||||||
| Feb 19, 2021 | ||||||
| Feb 28, 2020 | ||||||
| Feb 22, 2019 | ||||||
| Feb 28, 2018 | ||||||
| Feb 16, 2017 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).