Magnite vs The Trade Desk
The Trade Desk reported revenue of $2.9 billion in fiscal 2025, 4.1 times Magnite's $714 million in fiscal 2025. Magnite's revenue grew 6.8% in its latest year, and The Trade Desk's grew 18.5%. Magnite had an operating margin of 13.7%, against 20.4% at The Trade Desk. Free cash flow was $166 million at Magnite and $796 million at The Trade Desk.
Side by side
| Magnite | The Trade Desk | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $714M | $2.9B |
| Revenue growth | 6.8% | 18.5% |
| Revenue growth a year, last 5 years | 26.4% | 28.2% |
| Gross margin | 62.7% | 78.6% |
| Operating margin | 13.7% | 20.4% |
| Net margin | 20.3% | 15.3% |
| Free cash flow | $166M | $796M |
| Free cash flow margin | 23.2% | 27.5% |
| Return on capital | 11.1% | — |
| Net debt to EBITDA | 0.0x | — |
| Dividends and buybacks | $46M | $1.4B |
| Change in diluted share count | 4.7% | −1.7% |
| Last close | $27.39 | $12.93 |
| P/E at the last close | 22.8× | 15.6× |
| Insider trades, last 12 months | — | bought $148.1 million, sold $5.8 million |
| Piotroski F-score | 7 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
MagniteThe Trade Desk
Operating margin
Percent of revenue
MagniteThe Trade Desk
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
MagniteThe Trade Desk
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Magnite and The Trade Desk pages.