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Flagship explainer

What drives The Trade Desk, Inc.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity16%Tax burden67%net income ÷ pretax incomeInterest burden112%pretax ÷ operating incomeOperating margin20%operating income ÷ revenueAsset turnover0.47×revenue ÷ average assetsEquity multiplier2.26×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$443MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Income before tax$659MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Operating income$589MFY2025
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
$2.9BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Ending assets$6.2BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Beginning assets$6.1BFY2024
  • 10-K · FY 2024Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
$2.5BFY2025
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
$2.9BFY2024
  • 10-K · FY 2024Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Source: · event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
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