The Trade Desk has become one of the leading technology platform providers for advertisers and their ad agencies to purchase ad inventory made available by various publishers or content providers. We expect this demand-side platform provider, which helps ad buyers manage programmatic ad campaigns, will benefit from the ongoing growth of digital advertising spending.
Advertisers will likely shift a percentage of their budgets from social media toward other website publishers, given the improving performance of contextual campaigns, increasing the need for demand-side platforms.
Growth will be limited in the fragmented non-Google demand-side platform market, given Google’s dominance with a 40% market share (according to Jounce Media). Amazon is also aggressively expanding in this market.
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Metric
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TTD
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MSFT
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ADBE
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|---|---|---|---|
Price/Earnings (Normalized) | 66.22 | 37.24 | 28.24 |
Price/Book Value | 18.26 | 12.85 | 13.85 |
Price/Sales | 20.77 | 13.51 | 10.87 |
Price/Cash Flow | 56.07 | 29.44 | 31.03 |
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Metric
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TTD
|
MSFT
|
ADBE
|
|---|---|---|---|
Quick Ratio | 1.69 | 1.02 | 0.93 |
Current Ratio | 1.72 | 1.22 | 1.05 |
Interest Coverage | — | 41.49 | 55.63 |
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Metric
|
TTD
|
MSFT
|
ADBE
|
|---|---|---|---|
Return on Assets (Normalized) | 14.19% | 19.91% | 27.01% |
Return on Equity (Normalized) | 30.06% | 39.57% | 49.98% |
Return on Invested Capital (Normalized) | 24.89% | 29.21% | 38.81% |
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Ticker
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Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
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NOW
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CDNS
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WDAY
| Workday Inc Class A | Nvrvvlgjq | Bvlm | $67.5 Bil | |
ROP
| Roper Technologies Inc | Jbfrzhqyb | Wws | $56.4 Bil | |
DASTY
| Dassault Systemes SE ADR | Xtqgzvjyp | Tftt | $53.9 Bil |
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