New York Times vs The Trade Desk
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The short version
- The Trade Desk is the larger business, with $2.9B of revenue in fiscal 2025 against $2.8B for New York Times.
- The Trade Desk grew revenue faster (18.5%, against 9.2%).
- The Trade Desk kept more of each dollar of sales as operating profit (20.4% operating margin, against 15.3%).
- The Trade Desk turned more of its sales into free cash flow (27.5% FCF margin, against 19.5%).
- Investors pay more for each dollar of New York Times’s earnings: a P/E of 29.0x against 15.7x for The Trade Desk.
| Latest fiscal year | NYT · FY25 | TTD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.3B | $6.1B |
| Revenue | $2.8B | $2.9B |
| Free cash flow | $551M | $796M |
| Net income | $344M | $443M |
| Growth | ||
| Revenue growth | 9.2% | 18.5% |
| 5-year growth | 9.6% | 28.2% |
| Share count change | −0.5% | −1.7% |
| Profitability | ||
| Gross margin | — | 78.6% |
| Operating margin | 15.3% | 20.4% |
| Net margin | 12.2% | 15.3% |
| FCF margin | 19.5% | 27.5% |
| Return on capital | 23.8% | — |
| Return on equity | 17.3% | 16.3% |
| Balance sheet | ||
| Net debt | −$642M | — |
| Net debt / EBITDA | −1.2x | — |
| Dividends and buybacks | $276M | $1.4B |
| Valuation & quality | ||
| P/E | 29.0x | 15.7x |
| Piotroski F-score | 7 | — |
Revenue
FY16
NYT $1.6B
TTD $203M
FY17
NYT $1.7B
TTD $308M
FY18
NYT $1.7B
TTD $477M
FY19
NYT $1.8B
TTD $661M
FY20
NYT $1.8B
TTD $836M
FY21
NYT $2.1B
TTD $1.2B
FY22
NYT $2.3B
TTD $1.6B
FY23
NYT $2.4B
TTD $1.9B
FY24
NYT $2.6B
TTD $2.4B
FY25
NYT $2.8B
TTD $2.9B
NYT
TTD
Operating margin
FY16
NYT 7.2%
TTD 28.3%
FY17
NYT 10.5%
TTD 22.5%
FY18
NYT 10.9%
TTD 22.5%
FY19
NYT 9.7%
TTD 17.0%
FY20
NYT 9.9%
TTD 17.3%
FY21
NYT 12.9%
TTD 10.4%
FY22
NYT 8.8%
TTD 7.2%
FY23
NYT 11.4%
TTD 10.3%
FY24
NYT 13.6%
TTD 17.5%
FY25
NYT 15.3%
TTD 20.4%
NYT
TTD
Free cash flow
FY16
NYT $73.8M
TTD $68.2M
FY17
NYT $2.0M
TTD $21.1M
FY18
NYT $79.6M
TTD $66.8M
FY19
NYT $144M
TTD $24.5M
FY20
NYT $263M
TTD $331M
FY21
NYT $234M
TTD $324M
FY22
NYT $114M
TTD $465M
FY23
NYT $338M
TTD $552M
FY24
NYT $381M
TTD $641M
FY25
NYT $551M
TTD $796M
NYT
TTD
Return on capital
FY16
NYT 16.2%
TTD —
FY17
NYT 14.8%
TTD —
FY18
NYT 17.3%
TTD —
FY19
NYT 17.8%
TTD —
FY20
NYT 20.9%
TTD —
FY21
NYT 25.2%
TTD —
FY22
NYT 14.0%
TTD —
FY23
NYT 16.6%
TTD —
FY24
NYT 20.1%
TTD —
FY25
NYT 23.8%
TTD —
NYT
TTD
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.