The Trade Desk, Inc. logo TTD - The Trade Desk, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 23
HOLD 21
SELL 3
STRONG
SELL
0
| PRICE TARGET: $29.95 DETAILS
HIGH: $53.00
LOW: $20.00
MEDIAN: $27.00
CONSENSUS: $29.95
UPSIDE: 33.82%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1
Revenue
Revenue 688.9 846.8 739.4 694.0 616.0 741.0 628.0 584.5 491.3 605.8 493.3 464.3 382.8 490.7 394.8 377.0 315.3 395.6 301.1 280.0 219.8 319.9 216.1 139.4 160.7 215.9 164.2 159.9 121.0 160.5 118.8 112.3 85.7 102.6 79.4 72.8 53.4 72.4 53.0 47.2 30.4 42.7 28.8 24.5 18.0
Cost of Revenue 182.0 163.1 162.2 151.0 142.8 135.3 122.7 110.5 103.6 100.7 93.4 81.7 84.9 79.6 70.1 67.5 63.9 66.8 53.4 50.8 50.5 51.6 44.8 42.1 40.2 47.3 39.9 35.3 33.7 35.3 29.3 26.6 22.9 21.1 17.4 15.2 12.5 13.3 10.4 8.7 7.5 7.4 6.0 5.1 4.5
Gross Profit 506.9 683.7 577.3 543.1 473.2 605.7 505.4 474.1 387.6 505.1 399.9 382.6 297.9 411.1 324.6 309.5 251.4 328.8 247.7 229.2 169.3 268.3 171.3 97.2 120.5 168.7 124.3 124.6 87.3 125.2 89.5 85.7 62.8 81.5 62.0 57.7 40.8 59.2 42.5 38.5 22.9 35.3 22.8 19.3 13.4
Operating Expenses
R&D Expenses 142.7 130.6 127.9 134.3 132.4 127.9 117.7 110.0 107.7 102.0 117.8 98.3 93.7 84.5 79.9 83.5 72.0 62.8 55.8 53.5 53.9 48.7 41.1 40.1 36.8 32.8 29.2 29.5 25.3 24.1 22.6 19.5 17.7 17.0 13.2 12.1 10.5 9.6 7.3 5.8 4.6 4.3 3.4 2.8 2.3
SG&A Expenses 297.5 296.2 288.2 292.0 286.3 282.5 279.2 269.3 251.3 258.7 244.4 242.6 227.5 226.5 215.9 224.2 196.5 291.3 111.4 113.7 107.6 113.1 87.4 72.9 72.9 83.2 73.2 63.2 56.4 52.2 44.6 40.1 35.1 35.2 30.4 25.8 28.4 25.5 20.2 17.7 14.8 13.0 10.2 9.4 7.5
Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.3) (1.2) 0 0 0 0.5 (0.2) (0.2) (0.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 440.2 426.8 416.1 426.3 418.7 410.4 396.9 379.4 359.0 360.7 362.2 340.9 321.2 311.0 295.8 307.7 268.5 354.1 167.2 167.2 161.5 161.8 128.5 113.0 109.7 116.0 102.3 92.6 81.7 76.2 67.2 59.6 52.8 52.2 43.6 38.0 38.9 35.1 27.5 23.5 19.5 17.3 13.6 12.7 10.3
Operating Income
Operating Income 66.6 256.9 161.2 116.8 54.5 195.3 108.5 94.7 28.7 144.4 37.7 41.7 (23.3) 100.2 28.8 1.7 (17.1) (25.4) 80.4 61.9 7.8 106.4 42.8 (15.8) 10.8 52.6 21.9 31.9 5.7 49.0 22.3 26.2 9.9 29.3 18.4 19.7 1.9 24.0 15.1 15.0 3.4 18.0 9.2 7.1 3.7
Interest Expense 0 0 0.4 0 0 0 0 0 0 0 0 0 0 0 0 0 1.1 0.5 0.3 0.2 0.0 0.1 0.2 0 0 0 0 0 0 0 0 0 0.2 0.5 0.5 0.4 0.4 0.4 1.3 0.5 0.8 0.4 0.3 0 0
Interest Income 0 0 16.8 18.0 20.1 25.0 19.4 17.8 16.7 19.0 17.6 17.5 14.4 11.4 1.7 0.7 0 0 0 0 0 0 0 0.2 0.8 1.0 1.5 1.3 1.0 0.2 0.2 0.0 0 0 0 0 0 0 0 0 0 0 0 0.2 0.2
Profitability
EBITDA 66.6 302.2 212.7 143.5 78.4 219.4 129.2 115.6 50.4 165.0 58.2 61.7 (4.0) 117.0 41.8 14.0 (4.7) (13.1) 89.4 73.0 17.8 114.3 50.3 (9.0) 17.2 59.1 27.9 36.8 8.8 52.6 25.5 28.7 12.2 30.6 20.4 21.4 3.0 24.6 11.3 15.1 (0.2) 13.8 8.5 7.5 4.0
EBIT 66.6 270.3 179.5 116.8 54.5 195.3 108.5 94.7 28.7 144.4 37.7 41.7 (23.3) 100.2 28.8 1.7 (17.1) (25.4) 80.4 61.9 7.8 106.4 42.8 (15.8) 10.8 52.6 21.9 31.9 4.3 48.9 22.3 26.2 9.9 28.5 18.4 19.7 1.5 23.4 10.3 14.3 (1.0) 13.1 8.1 7.1 3.7
Income Before Tax 79.0 270.3 179.5 133.2 75.8 221.6 127.2 112.5 46.0 160.7 57 59.9 (9.6) 112.1 30.5 2.1 (17.3) (26.6) 79.0 61.5 8.1 107.0 42.6 (16.0) 10.3 53.7 23.8 33.4 5.3 49.3 22.1 25.1 9.2 28.0 16.1 18.4 1.1 23.0 9.0 13.8 (1.9) 12.7 7.8 6.4 2.9
Income Tax Expense 39.0 83.3 64.0 43.1 25.1 39.4 33.0 27.5 14.4 63.4 17.6 27.0 (18.9) 40.9 14.6 21.2 (2.7) (34.6) 19.6 13.9 (14.6) (44.9) 1.3 (41.1) (13.7) 2.8 4.4 5.6 (4.8) 9.9 1.8 5.8 0.2 11.2 5.8 (0.5) (3.8) 12.7 5.3 6.2 (0.8) 7.0 3.2 2.5 1.1
Net Income 40.0 186.9 115.5 90.1 50.7 182.2 94.2 85.0 31.7 97.3 39.4 32.9 9.3 71.2 15.9 (19.1) (14.6) 8.0 59.4 47.7 22.6 151.9 41.2 25.1 24.1 50.9 19.4 27.8 10.2 39.4 20.3 19.3 9.1 16.8 10.2 18.8 4.9 10.3 3.6 7.6 (1.0) 5.7 4.6 5.0 0.5
Per Share Data
EPS (Basic) 0.08 0.39 0.24 0.18 0.10 0.37 0.19 0.17 0.06 0.20 0.08 0.07 0.02 0.15 0.03 -0.04 -0.03 0.02 0.12 0.10 0.05 0.32 0.09 0.05 0.05 0.11 0.04 0.06 0.02 0.09 0.05 0.05 0.02 0.04 0.03 0.05 0.01 0.03 0.01 0.01 -0.00 0.01 0.00 0.03 0.00
EPS (Diluted) 0.08 0.40 0.23 0.18 0.10 0.36 0.19 0.17 0.06 0.19 0.08 0.07 0.02 0.14 0.03 -0.04 -0.03 0.02 0.12 0.10 0.05 0.31 0.08 0.05 0.05 0.11 0.04 0.06 0.02 0.08 0.04 0.04 0.02 0.04 0.02 0.04 0.01 0.02 0.01 0.01 -0.00 0.01 0.00 0.03 0.00
Shares Outstanding 474.7 480.0 502.4 490.6 494.9 494.0 491.6 489.4 488.6 489.5 489.4 488.4 489.7 489.2 488.0 476.8 484.2 480.9 478.1 475.5 472.8 469.2 465.8 461.4 455.0 450.4 447.7 444.0 439.1 432.2 427.2 421.7 416.3 411.1 407 400.5 391.7 385.9 384.1 382.3 472.8 472.8 472.8 163.7 158.7
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 878.4 658.2 653.1 896.4 1,118.5 1,369.5 1,221.5 1,009.4 918.2 895.1 1,071.8 965.8 892.7 1,030.5 994.7 932.7 844.2 754.2 576.9 476.9 471.6 437.4 434.4 426.3 325.2 130.9 173.4 130.6 143.8 207.2 166.3 141.7 139.0 155.9 132.8 115.9 106.6 133.4 124.0 37.6 30.9
Short-Term Investments 527.5 644.9 792.3 790.9 621.8 552.0 510.3 497.2 501.4 485.2 450.1 465.1 437.7 416.1 326.7 280.5 260.3 204.6 221.7 228.2 208.4 186.7 122.9 129.0 120.6 124.1 123.1 100.5 74.1 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 3,323.7 3,945.2 3,596.3 3,254.9 3,051.9 3,330.3 2,989.4 2,905.5 2,619.3 2,870.3 2,434.0 2,346.1 2,086.3 2,347.2 2,026.9 1,902.5 1,761.0 2,020.7 1,624.8 1,527.7 1,368.7 1,584.1 1,139.9 869.1 948.0 1,166.4 836.0 830.6 707.7 834.8 640.1 645.6 556.7 599.6 470.5 382.2 315.3 377.2 274.0 236.7 169.4
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 132.1 12.8 78.5 111.5 64.0 84.6 117.2 110.8 57.6 63.4 57.9 54.7 59.1 51.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 4,861.7 5,261.0 5,120.3 5,053.7 4,856.3 5,336.5 4,838.4 4,522.8 4,096.4 4,314.0 4,013.8 3,831.8 3,475.9 3,845.6 3,415.4 3,196.2 2,955.3 3,091.6 2,515.9 2,347.3 2,170.1 2,310.3 1,756.0 1,491.8 1,441.8 1,449.2 1,159.1 1,084.0 944.6 1,056.5 825.1 800.4 706.5 765.8 616.0 515.3 432.7 516.4 403.5 279.9 207.8
Non-Current Assets
Property, Plant & Equipment 715.7 738.9 609.6 579.3 530.1 473.1 440.4 421.3 352.4 359.2 361.4 371.9 382.5 394.2 397.0 364.6 359.6 369.9 379.9 370.5 353.8 364.0 314.0 300.0 279.1 237.5 225.0 126.2 109.6 33.0 29.4 23.0 18.0 17.4 17.4 17.1 16.1 14.8 10.5 7.7 6.4
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 19.9 0 0 0 14.6 0 0 0 16.9 0 0 0 18.5 0 0 0 14.3 0 0 0 11.5 0 0 0 9.1 0 0 0 8.1 0 0 0 4.4 0 0 0 2.8 0 0 0
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 101.4 77.7 100.0 95.9 90.1 57.6 71.7 60.9 60.1 43.8 51.2 49.3 47.2 28.3 44.0 45.3 44.2 33.2 46.6 30.1 28.6 17.6 28.5 26.5 27.3 14.0 22.4 20.7 19.7 11.7 15.9 12.6 11.1 6.2 7.5 7.0 4.8 1.9 4.5 6.2 5.3
Total Non-Current Assets 872.7 892.2 820.1 904.1 849.1 775.5 667.0 637.1 567.4 574.7 506.6 515.2 523.8 535.1 508.6 476.6 477.4 485.7 472.8 445.7 432.6 443.3 382.4 357.2 325.4 279.5 255.9 155.4 137.8 61.3 48.7 39.0 32.5 31.4 26.7 25.9 22.6 21.2 16.2 15.0 11.7
Total Assets 5,734.4 6,153.2 5,940.4 5,957.8 5,705.4 6,112.0 5,505.3 5,159.9 4,663.8 4,888.7 4,520.4 4,347.0 3,999.6 4,380.7 3,924.0 3,672.7 3,432.7 3,577.3 2,988.8 2,792.9 2,602.7 2,753.6 2,138.4 1,849.0 1,767.2 1,728.8 1,415.0 1,239.5 1,082.4 1,117.9 873.7 839.4 739.1 797.2 642.6 541.3 455.3 537.6 419.7 295.0 219.5
Current Liabilities
Account Payables 2,633.0 3,007.7 2,761.3 2,724.1 2,398.9 2,631.2 2,409.8 2,336.6 2,094.9 2,317.3 1,967.6 1,892.9 1,677.2 1,871.4 1,651.4 1,537.4 1,405.7 1,655.7 1,305.0 1,222.2 1,142.3 1,348.5 919.7 656.2 663.4 868.6 647.5 616.2 529.6 669.1 493.3 503.2 440.7 490.4 370.5 290.4 231.5 321.2 206.2 164.3 102.6
Short-Term Debt 0 76.4 73.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.6
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 0 182.0 160.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.7 0.6 0
Total Current Liabilities 2,890.4 3,266.0 2,994.8 2,949.0 2,682.1 2,873.5 2,615.1 2,518.4 2,283.3 2,510.8 2,147.2 2,051.0 1,830.4 2,029.3 1,785.2 1,665.1 1,545.8 1,803.3 1,427.9 1,328.6 1,263.5 1,474.7 1,012.2 730.7 734.4 930.4 704.0 670.5 583.3 714.0 529.2 531.6 469.7 518.5 395.9 311.5 252.9 344.1 220.9 174.5 113.0
Non-Current Liabilities
Long-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 72 142 143 0 0 0 0 0 0 0 0 27 27 27 25.8 25.8 50.8 55.8 51.8
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 44.4 42.9 42.0 41.9 44.0 41.6 34.1 33.4 33.4 33.3 27.5 26.5 27.7 27.5 8.7 8.5 8.3 8.3 10.1 9.0 9.0 11.3 16.2 12.4 11.1 11.0 7.9 5.1 4.6 9.3 7.5 6.8 6.4 6.0 4.4 4.5 4.6 3.2 2.2 1.7 0.2
Total Non-Current Liabilities 390.5 402.8 344.8 313.0 306.7 289.3 264.5 236.1 213.9 213.6 217.8 224.6 228.5 236.0 224.4 227.8 237.8 246.7 258.0 262.0 254.9 265.8 293.6 359.9 358.8 185.9 175.6 76.8 69.7 9.3 7.5 6.8 6.4 33.0 31.4 31.5 30.4 29.1 53.1 57.5 51.9
Total Liabilities 3,280.9 3,668.8 3,339.6 3,262.0 2,988.8 3,162.8 2,879.6 2,754.5 2,497.2 2,724.5 2,364.9 2,275.6 2,058.8 2,265.3 2,009.7 1,892.9 1,783.6 2,050.0 1,685.9 1,590.6 1,518.4 1,740.5 1,305.8 1,090.6 1,093.2 1,116.2 879.6 747.2 653.0 723.3 536.7 538.4 476.1 551.6 427.4 343.0 283.3 373.2 274.0 232.1 165.0
Stockholders' Equity
Common Stock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings (725.0) (590.9) (364.4) (162.4) 4.5 354.2 228.7 188.4 103.2 197.0 320.4 370.9 382.0 665.5 594.3 578.5 597.5 612.1 604.1 544.7 497.0 474.4 322.5 281.2 256.1 232.4 181.5 162.1 134.3 124.1 84.7 64.4 45.0 36.0 19.2 8.9 (9.9) (14.8) (25.1) (28.7) (36.3)
Accumulated Other Comprehensive Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0.3 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Stockholders' Equity 2,453.5 2,484.4 2,600.8 2,695.8 2,716.7 2,949.1 2,625.8 2,405.4 2,166.6 2,164.2 2,155.5 2,071.4 1,940.8 2,115.3 1,914.3 1,779.8 1,649.1 1,527.3 1,302.8 1,202.3 1,084.3 1,013.1 832.6 758.4 674.0 612.5 535.4 492.2 429.4 394.6 337.0 301.0 262.9 245.6 215.3 198.2 171.9 164.4 145.7 62.9 54.5
Total Liabilities & Equity 5,734.4 6,153.2 5,940.4 5,957.8 5,705.4 6,112.0 5,505.3 5,159.9 4,663.8 4,888.7 4,520.4 4,347.0 3,999.6 4,380.7 3,924.0 3,672.7 3,432.7 3,577.3 2,988.8 2,792.9 2,602.7 2,753.6 2,138.4 1,849.0 1,767.2 1,728.8 1,415.0 1,239.5 1,082.4 1,117.9 873.7 839.4 739.1 797.2 642.6 541.3 455.3 537.6 419.7 295.0 219.5
Debt Metrics
Total Debt 423.6 436.3 376.0 343.5 335.0 312.2 293.2 264.3 237.7 235.9 248.1 252.9 253.8 261.0 266.8 267.6 276.7 284.6 293.5 292.6 283.6 292.4 312.1 378.9 370.2 189.4 183.6 88.5 79.6 0 0 0 0 27 27 27 25.8 25.8 50.8 55.8 52.4
Net Debt (454.8) (221.8) (277.2) (552.8) (783.6) (1,057.2) (928.3) (745.0) (680.5) (659.2) (823.7) (713.0) (638.9) (769.5) (727.9) (665.1) (567.5) (469.6) (283.4) (184.3) (188.1) (144.9) (122.2) (47.4) 45.0 58.6 10.2 (42.1) (64.2) (207.2) (166.3) (141.7) (139.0) (128.9) (105.8) (88.9) (80.7) (107.6) (73.1) 18.2 21.5
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 40.0 186.9 115.5 90.1 50.7 182.2 94.2 85.0 31.7 97.3 39.4 32.9 9.3 71.2 15.9 (19.1) (14.6) 8.0 59.4 47.7 22.6 151.9 41.2 25.1 24.1 50.9 19.4 27.8 10.2 39.4 20.3 19.3 9.1 16.8 10.2 18.8 4.9 10.3 3.6 7.6 (1.0)
Depreciation & Amortization 31.4 32.0 33.1 26.7 24.0 24.1 20.8 20.9 21.7 20.5 20.5 20.1 19.3 16.8 13.0 12.3 12.3 12.2 9.0 11.0 10.0 7.9 7.5 6.8 6.5 6.4 6.0 4.8 4.5 3.7 3.3 2.6 2.3 2.1 2.0 1.7 1.5 1.2 1.0 0.8 0.8
Stock-Based Compensation 109.0 112.2 121.3 128.9 128.3 129.2 128.5 126.3 110.6 121.4 139.6 117.1 113.5 127.5 121.0 125.2 124.9 205.4 34.5 45.2 52.4 38.0 26.9 23.9 23.0 24.4 19.4 21.1 15.9 14.3 11.4 9.3 7.3 8.9 5.9 4.2 2.3 4.0 0.7 0.2 0.2
Change in Working Capital 182.4 (80.6) (180.8) (96.7) 82.9 (79.2) 21.9 (159.6) 7.5 (87.9) (21.9) (47.3) 34.6 (38.7) (20.7) (51.3) 16.6 (50.9) 18.6 (112.9) (24.5) (30.5) 9.9 48.6 (12.9) (107.9) (6.7) (22.3) (25.8) (5.1) (9.0) (34.2) (7.2) (2.4) 0.8 (13.4) (34.5) 18.9 6.2 (3.7) 12.3
Other Non-Cash Items 29.0 11.6 17.4 16.0 5.6 (57.0) 8.0 8.6 13.9 1.4 14.0 5.3 10.9 8.7 9.2 17.8 12.2 10.4 8.3 14.3 14.6 10.6 12.2 (8.1) 12.2 (1.9) 6.4 2.7 5.0 (4.2) 0.2 3.6 0.4 (1.2) 0.1 (0.6) 3.1 1.6 4.9 0.8 4.6
Operating Cash Flow 391.8 311.6 224.7 165.0 291.4 199.4 273.3 81.3 185.5 91.1 191.5 128.1 187.6 173.5 137.3 91.8 146.2 163.4 129.7 10.4 75.1 167.6 88.4 96.4 52.8 (28.1) 44.5 34.1 9.7 48.1 26.1 0.6 11.8 24.2 19.0 10.8 (22.7) 36.0 16.3 5.8 16.9
Investing Activities
Capital Expenditure (112.7) (34.7) (60.6) (48.3) (61.8) (22.3) (51.0) (24.6) (9.2) (27.3) (7.7) (9.3) (10.6) (50.7) (25.5) (5.8) (10.0) (12.4) (26.4) (7.0) (14.2) (18.1) (21.9) (20.8) (19.3) (15.1) (6.1) (11.9) (7.5) (10.5) (5.4) (6.7) (2.7) (2.2) (2.3) (4.3) (4.2) (3.9) (2.2) (2.2) (0.9)
Acquisitions 0 0 0 0 (4.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (122.1) (128.1) (248.4) (346.3) (231.6) (192.9) (168.6) (158.2) (159.7) (160.1) (131.9) (171.6) (144.7) (174.1) (145.3) (112.7) (121.2) (45.0) (69.4) (74.7) (89.4) (103.6) (37.2) (54.1) (35.9) (34.6) (55.7) (48.5) (74.0) 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 238.3 278.3 251.3 181.0 165.1 154.1 160.4 166.8 147.8 130.4 151.0 147.7 126.7 86.1 98.6 91.9 64.1 61.4 75.3 54.1 67.2 39.3 43.1 46.0 39.2 33.7 33.4 22.4 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities (3.0) (3.7) (3.4) (3.1) (2.7) (2.1) (2.3) (2.5) (2.0) (2.1) (2.7) (1.9) (1.5) (2.9) (1.6) (1.6) (1.6) (1.5) (14.3) (1.6) (1.1) (1.8) (1.9) (1.4) (1.0) (1.1) (1.4) (1.0) (1.4) (1.1) (1.6) (1.9) (0.9) (3.5) (0.7) (1.2) (0.6) (0.5) (0.7) (0.5) (0.5)
Investing Cash Flow 0.5 120.3 (66.8) (213.6) (132.6) (61.2) (59.2) (16.0) (21.1) (57.1) 11.3 (33.3) (28.6) (138.6) (72.2) (26.5) (67.1) 4.0 (33.8) (27.6) (36.3) (82.5) (16.0) (28.9) (16.0) (16.0) (28.4) (38.0) (81.5) (10.5) (5.4) (6.7) (2.7) (5.2) (2.3) (4.3) (4.2) (3.9) (2.2) (2.2) (0.9)
Financing Activities
Net Debt Issuance 0 0 (74.2) 74.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (72) (70) (1) 143 0 0 0 0 0 0 0 (27) 0 0 0 0 (25) (5) 5 5.8
Stock Repurchased (163.5) (422.9) (310.4) (260.8) (386.2) (57.4) (52.1) 0 (125.3) (219.9) (90.2) (45.0) (291.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.1) (54.1)
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (10.6) (17.9) (22.7) 13.0 (23.5) 67.1 50.1 (31.6) (16.0) 9.2 (6.8) 23.3 (5.2) 1.0 (3.1) 23.2 11.0 9.8 4.1 22.5 (4.5) (10.1) 5.6 34.7 14.6 1.5 3.8 13.6 8.3 3.3 3.9 8.8 0.9 4.2 0.3 2.8 0.2 2.3 (0.9) (1.7) (0.8)
Financing Cash Flow (172.1) (426.8) (401.2) (173.6) (409.8) 9.8 (2.0) 25.9 (141.3) (210.7) (96.9) (21.7) (296.8) 1.0 (3.1) 23.2 11.0 9.8 4.1 22.5 (4.5) (82.1) (64.4) 33.7 157.6 1.5 3.8 13.6 8.3 3.3 3.9 8.8 (26.1) 4.2 0.3 2.8 0.2 (22.7) 72.2 3.2 10.9
Cash Position
Net Change in Cash 220.2 5.0 (243.3) (222.2) (250.9) 148.0 212.1 91.2 23.1 (176.6) 105.9 73.1 (137.8) 35.9 62.0 88.5 90.1 177.2 100.0 5.3 34.3 3.0 8.0 101.1 194.3 (42.6) 19.9 9.7 (63.4) 40.9 24.7 2.7 (17.0) 23.2 16.9 9.3 (26.8) 9.4 86.4 6.8 26.8
Cash at Beginning 658.2 653.1 896.4 1,118.5 1,369.5 1,221.5 1,009.4 918.2 895.1 1,071.8 965.8 892.7 1,030.5 994.7 932.7 844.2 754.2 576.9 476.9 471.6 437.4 434.4 426.3 325.2 130.9 173.4 153.6 143.8 207.2 166.3 141.7 139.0 155.9 132.8 115.9 106.6 133.4 124.0 37.6 30.9 4.0
Cash at End 878.4 658.2 653.1 896.4 1,118.5 1,369.5 1,221.5 1,009.4 918.2 895.1 1,071.8 965.8 892.7 1,030.5 994.7 932.7 844.2 754.2 576.9 476.9 471.6 437.4 434.4 426.3 325.2 130.9 173.4 153.6 143.8 207.2 166.3 141.7 139.0 155.9 132.8 115.9 106.6 133.4 124.0 37.6 30.9
Free Cash Flow 279.1 276.9 164.1 116.7 229.7 177.1 222.3 56.7 176.3 63.8 183.8 118.7 176.9 122.8 111.8 86.0 136.2 151.0 103.2 3.4 60.9 149.5 66.5 75.6 33.5 (43.2) 38.4 22.2 2.2 37.6 20.8 (6.1) 9.2 22.0 16.7 6.5 (27.0) 32.1 14.2 3.6 16.0
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1
Income Statement
Revenue 688.9 846.8 739.4 694.0 616.0 741.0 628.0 584.5 491.3 605.8 493.3 464.3 382.8 490.7 394.8 377.0 315.3 395.6 301.1 280.0 219.8 319.9 216.1 139.4 160.7 215.9 164.2 159.9 121.0 160.5 118.8 112.3 85.7 102.6 79.4 72.8 53.4 72.4 53.0 47.2 30.4 42.7 28.8 24.5 18.0
Gross Profit 506.9 683.7 577.3 543.1 473.2 605.7 505.4 474.1 387.6 505.1 399.9 382.6 297.9 411.1 324.6 309.5 251.4 328.8 247.7 229.2 169.3 268.3 171.3 97.2 120.5 168.7 124.3 124.6 87.3 125.2 89.5 85.7 62.8 81.5 62.0 57.7 40.8 59.2 42.5 38.5 22.9 35.3 22.8 19.3 13.4
Operating Income 66.6 256.9 161.2 116.8 54.5 195.3 108.5 94.7 28.7 144.4 37.7 41.7 (23.3) 100.2 28.8 1.7 (17.1) (25.4) 80.4 61.9 7.8 106.4 42.8 (15.8) 10.8 52.6 21.9 31.9 5.7 49.0 22.3 26.2 9.9 29.3 18.4 19.7 1.9 24.0 15.1 15.0 3.4 18.0 9.2 7.1 3.7
Net Income 40.0 186.9 115.5 90.1 50.7 182.2 94.2 85.0 31.7 97.3 39.4 32.9 9.3 71.2 15.9 (19.1) (14.6) 8.0 59.4 47.7 22.6 151.9 41.2 25.1 24.1 50.9 19.4 27.8 10.2 39.4 20.3 19.3 9.1 16.8 10.2 18.8 4.9 10.3 3.6 7.6 (1.0) 5.7 4.6 5.0 0.5
EPS (Diluted) 0.08 0.40 0.23 0.18 0.10 0.36 0.19 0.17 0.06 0.19 0.08 0.07 0.02 0.14 0.03 -0.04 -0.03 0.02 0.12 0.10 0.05 0.31 0.08 0.05 0.05 0.11 0.04 0.06 0.02 0.08 0.04 0.04 0.02 0.04 0.02 0.04 0.01 0.02 0.01 0.01 -0.00 0.01 0.00 0.03 0.00
Balance Sheet
Cash & Equivalents 878.4 658.2 653.1 896.4 1,118.5 1,369.5 1,221.5 1,009.4 918.2 895.1 1,071.8 965.8 892.7 1,030.5 994.7 932.7 844.2 754.2 576.9 476.9 471.6 437.4 434.4 426.3 325.2 130.9 173.4 130.6 143.8 207.2 166.3 141.7 139.0 155.9 132.8 115.9 106.6 133.4 124.0 37.6 30.9
Total Assets 5,734.4 6,153.2 5,940.4 5,957.8 5,705.4 6,112.0 5,505.3 5,159.9 4,663.8 4,888.7 4,520.4 4,347.0 3,999.6 4,380.7 3,924.0 3,672.7 3,432.7 3,577.3 2,988.8 2,792.9 2,602.7 2,753.6 2,138.4 1,849.0 1,767.2 1,728.8 1,415.0 1,239.5 1,082.4 1,117.9 873.7 839.4 739.1 797.2 642.6 541.3 455.3 537.6 419.7 295.0 219.5
Total Debt 423.6 436.3 376.0 343.5 335.0 312.2 293.2 264.3 237.7 235.9 248.1 252.9 253.8 261.0 266.8 267.6 276.7 284.6 293.5 292.6 283.6 292.4 312.1 378.9 370.2 189.4 183.6 88.5 79.6 0 0 0 0 27 27 27 25.8 25.8 50.8 55.8 52.4
Stockholders' Equity 2,453.5 2,484.4 2,600.8 2,695.8 2,716.7 2,949.1 2,625.8 2,405.4 2,166.6 2,164.2 2,155.5 2,071.4 1,940.8 2,115.3 1,914.3 1,779.8 1,649.1 1,527.3 1,302.8 1,202.3 1,084.3 1,013.1 832.6 758.4 674.0 612.5 535.4 492.2 429.4 394.6 337.0 301.0 262.9 245.6 215.3 198.2 171.9 164.4 145.7 62.9 54.5
Cash Flow
Operating Cash Flow 391.8 311.6 224.7 165.0 291.4 199.4 273.3 81.3 185.5 91.1 191.5 128.1 187.6 173.5 137.3 91.8 146.2 163.4 129.7 10.4 75.1 167.6 88.4 96.4 52.8 (28.1) 44.5 34.1 9.7 48.1 26.1 0.6 11.8 24.2 19.0 10.8 (22.7) 36.0 16.3 5.8 16.9
Capital Expenditure (112.7) (34.7) (60.6) (48.3) (61.8) (22.3) (51.0) (24.6) (9.2) (27.3) (7.7) (9.3) (10.6) (50.7) (25.5) (5.8) (10.0) (12.4) (26.4) (7.0) (14.2) (18.1) (21.9) (20.8) (19.3) (15.1) (6.1) (11.9) (7.5) (10.5) (5.4) (6.7) (2.7) (2.2) (2.3) (4.3) (4.2) (3.9) (2.2) (2.2) (0.9)
Free Cash Flow 279.1 276.9 164.1 116.7 229.7 177.1 222.3 56.7 176.3 63.8 183.8 118.7 176.9 122.8 111.8 86.0 136.2 151.0 103.2 3.4 60.9 149.5 66.5 75.6 33.5 (43.2) 38.4 22.2 2.2 37.6 20.8 (6.1) 9.2 22.0 16.7 6.5 (27.0) 32.1 14.2 3.6 16.0