Loading institutional data...
Loading institutional data...
Held by 749 of 5,944 reporting institutions (98th percentile) — extremely crowded.
Data as of Q1 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading quality & risk...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $14.26 today, the market must believe free cash flow compounds -2.6%/yr for a decade (off $663M normalized FCF).
The market's -2.6% is more conservative than its 9-yr track record.
2-stage DCF · 0.49B shares · net debt -$658M
mean 159.4% · volatility σ 417% · implied rate exceeded in 7/9 yrs
Central path = implied -2.6%/yr growth; shaded band = ±1σ (417%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $1.4B buybacks = $1.4B returned on $796M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 18%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 10-yr range · 26th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 10-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 2.1× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 23.9 | 23.6 | 21.4 | 18.5 | 17.8 | 18.8 | 19.3 | 21.4 |
| R&D | 17.6 | 17.7 | 19.9 | 18.9 | 20.3 | 21.2 | 19.0 | 18.1 |
| SG&A | 17.8 | 21.6 | 20.5 | 31.3 | 33.3 | 26.7 | 21.9 | 17.9 |
| Operating Income | 22.5 | 17.0 | 17.2 | 10.4 | 7.2 | 10.3 | 17.5 | 20.3 |
| Income Tax | 3.7 | 1.2 | -11.8 | -1.3 | 4.7 | 4.6 | 4.7 | 7.4 |
| Net Income | 18.5 | 16.4 | 29.0 | 11.5 | 3.4 | 9.2 | 16.1 | 15.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TTD: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.90B 100.0% | $2.44B 100.0% | $1.95B 100.0% | $1.58B 100.0% | $1.20B 100.0% | $836.0M 100.0% | $661.1M 100.0% | $477.3M 100.0% | $308.2M 100.0% | $202.9M 100.0% |
| Cost of Revenue | $619.1M 21.4% | $472.0M 19.3% | $365.6M 18.8% | $281.1M 17.8% | $221.6M 18.5% | $178.8M 21.4% | $156.2M 23.6% | $114.1M 23.9% | $66.2M 21.5% | $39.9M 19.7% |
| Cost of Services | — | — | — | — | — | — | — | — | $66.2M 21.5% | $39.9M 19.7% |
| Research & Development | $525.1M 18.1% | $463.3M 19.0% | $411.8M 21.2% | $319.9M 20.3% | $226.1M 18.9% | $166.7M 19.9% | $116.8M 17.7% | $83.9M 17.6% | $52.8M 17.1% | $27.3M 13.5% |
| Selling, General & Admin | $518.5M 17.9% | $535.8M 21.9% | $520.3M 26.7% | $525.2M 33.3% | $374.7M 31.3% | $171.6M 20.5% | $143.0M 21.6% | $84.9M 17.8% | $58.4M 19.0% | $32.2M 15.8% |
| Total Operating Expenses | $2.31B 79.7% | $2.02B 82.5% | $1.75B 89.7% | $1.46B 92.8% | $1.07B 89.6% | $691.8M 82.8% | $548.9M 83.0% | $370.0M 77.5% | $238.9M 77.5% | $145.4M 71.7% |
| Operating Income | $589.3M 20.3% | $427.2M 17.5% | $200.5M 10.3% | $113.7M 7.2% | $124.8M 10.4% | $144.2M 17.2% | $112.2M 17.0% | $107.3M 22.5% | $69.4M 22.5% | $57.5M 28.3% |
| Interest Expense | $1.8M 0.1% | $1.5M 0.1% | $1.7M 0.1% | $4.0M 0.3% | — | — | — | $1.6M 0.3% | $1.8M 0.6% | $3.1M 1.5% |
| Other Income (Expense), net | $69.4M 2.4% | $80.1M 3.3% | $67.5M 3.5% | $13.7M 0.9% | -$2.8M -0.2% | -$305K -0.0% | $4.0M 0.6% | -$1.6M -0.3% | -$5.7M -1.9% | -$13.7M -6.7% |
| Pretax Income | $658.8M 22.7% | $507.3M 20.7% | $268.0M 13.8% | $127.4M 8.1% | $122.0M 10.2% | $143.9M 17.2% | $116.2M 17.6% | $105.7M 22.2% | $63.6M 20.6% | $43.8M 21.6% |
| Income Tax Expense | $215.5M 7.4% | $114.2M 4.7% | $89.1M 4.6% | $74.0M 4.7% | -$15.7M -1.3% | -$98.4M -11.8% | $7.9M 1.2% | $17.6M 3.7% | $12.8M 4.2% | $23.4M 11.5% |
| Net Income | $443.3M 15.3% | $393.1M 16.1% | $178.9M 9.2% | $53.4M 3.4% | $137.8M 11.5% | $242.3M 29.0% | $108.3M 16.4% | $88.1M 18.5% | $50.8M 16.5% | $20.5M 10.1% |
| Per Share | ||||||||||
| EPS (Basic) | $0.91 | $0.80 | $0.37 | $0.11 | $0.29 | $0.52 | $0.24 | $2.08 | $1.26 | $-1.46 |
| EPS (Diluted) | $0.90 | $0.78 | $0.36 | $0.11 | $0.28 | $0.49 | $0.23 | $1.92 | $1.15 | $-1.46 |
| Weighted Avg Shares (Basic) | 488.3M | 490.9M | 489.3M | 486.9M | 476.9M | 462.9M | 445.3M | 42.4M | 40.3M | 18.3M |
| Weighted Avg Shares (Diluted) | 493.6M | 501.9M | 500.2M | 499.9M | 498.5M | 489.9M | 478.1M | 45.8M | 44.1M | 18.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Ranked against 743 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $11.16T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.33T | 44.8× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.98T | 45.2× | 34.8× | 12.0× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.70T | 27.7× | 19.6× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.65T | 72.8× | 65.1× | 25.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.10T | 128.8× | 60.7× | 29.3× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $888.5B | 205.7× | 210.2× | 25.6× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $543.3B | — | 67.4× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $436.6B | 43.2× | 36.6× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $421.4B | 279.8× | 291.6× | 94.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $383.6B | 67.8× | 36.1× | 3.4× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.7B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| RPAY | $338.0B | — | — | 1092.8× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| AMAT | $331.0B | 48.2× | 38.1× | 11.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| UMC | $307.4B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $281.9B | 311.6× | 242.9× | 57.3× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SAP | $262.5B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.7B | 72.6× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $250.5B | 234.4× | 156.5× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SNDK | $235.7B | — | — | 32.0× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| TXN | $234.6B | 47.4× | 30.9× | 13.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $225.6B | 31.1× | 24.4× | 5.4× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.8B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $204.0B | 78.4× | 133.3× | 24.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $202.7B | 37.7× | 15.2× | 4.6× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| TTD | $7.0B | 15.8× | 8.9× | 2.4× | 18.5% | 78.6% | 15.3% | 17.8% | 17.8% | — | 749 |
Peers = companies sharing TTD's sector (Technology) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.