TTD vs ZD: Trade Desk and Ziff Davis compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Trade Desk is the larger company, worth $5.9B, about 2.7 times Ziff Davis.
- Trade Desk grew revenue faster over the last year (+3.0% vs -2.7%).
- Trade Desk keeps more of each dollar of revenue as operating profit (19.6% vs 5.5%).
- On earnings, Trade Desk is the cheaper stock (14.2x vs 49.7x).
- Trade Desk's price assumes faster free cash flow growth: about -8% a year, against -8% for Ziff Davis (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | TTD | ZD |
|---|---|---|
| Market cap | $5.9B | $2.1B |
| Share price | $12.08 | $56.52 |
| Revenue (last fiscal year) | $2.9B | $1.5B |
| Free cash flow (last fiscal year) | $783M | $288M |
| Revenue growth, last year | +3.0% | -2.7% |
| Revenue growth per year, last 5 fiscal years | +24.7% | +0.6% |
| Operating margin | 19.6% | 5.5% |
| Net margin | 13.6% | 48.6% |
| Return on equity | 15.8% | 28.8% |
| P/E (trailing) | 14.2x | 49.7x |
| Price / free cash flow | 7.37x | 7.45x |
| EV / EBITDA | 6.34x | 13.5x |
| FCF growth the price implies | -8.1% | -8.2% |
| Dividend yield | — | — |
| Debt / equity | 1.24x | 0.79x |
| Fundamental grade | C | B |
| Superinvestors holding it | 4 | 4 |
| Insider purchases, last 12 months | 10 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Trade Desk
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.2B | $319M | 10.4% |
| 2022 | $1.6B | $457M | 7.2% |
| 2023 | $1.9B | $543M | 10.3% |
| 2024 | $2.4B | $632M | 17.5% |
| 2025 | $2.9B | $783M | 20.3% |
Ziff Davis
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.4B | $403M | 11.8% |
| 2022 | $1.4B | $230M | 14.3% |
| 2023 | $1.4B | $211M | 9.7% |
| 2024 | $1.4B | $284M | 8.1% |
| 2025 | $1.5B | $288M | 12.6% |
Where the revenue comes from
Trade Desk · by regions, 2025
UNITED STATES$2.5B86%
Non-US$420M14%
Ziff Davis · by segments, 2025
Health & Wellness$402M28%
Technology & Shopping$357M25%
Cybersecurity & Martech$278M19%
Connectivity$231M16%
Gaming & Entertainment$184M13%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open TTD in InvestinglyQuestions
Which is bigger, Trade Desk or Ziff Davis?
Trade Desk (TTD), at $5.9B against $2.1B.
Is TTD or ZD cheaper?
By trailing P/E, Trade Desk (14.2x) is cheaper than Ziff Davis (49.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, TTD or ZD?
Trade Desk: revenue grew +3.0% over the last year, against -2.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.