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Side-by-side financial comparison of OPEN TEXT CORP (OTEX) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
OPEN TEXT CORP is the larger business by last-quarter revenue ($1.3B vs $846.8M, roughly 1.6× Trade Desk (The)). Trade Desk (The) runs the higher net margin — 22.1% vs 12.7%, a 9.4% gap on every dollar of revenue. On growth, Trade Desk (The) posted the faster year-over-year revenue change (14.3% vs -0.6%). Trade Desk (The) produced more free cash flow last quarter ($285.3M vs $279.4M). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% CAGR vs -4.3%).
Open Text Corporation is a global software company that develops and sells information management software.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
OTEX vs TTD — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $846.8M |
| Net Profit | $168.1M | $186.9M |
| Gross Margin | 74.0% | 80.7% |
| Operating Margin | 22.0% | 30.3% |
| Net Margin | 12.7% | 22.1% |
| Revenue YoY | -0.6% | 14.3% |
| Net Profit YoY | -26.9% | 2.6% |
| EPS (diluted) | $0.66 | $0.39 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.3B | $846.8M | ||
| Q3 25 | $1.3B | $739.4M | ||
| Q2 25 | $1.3B | $694.0M | ||
| Q1 25 | $1.3B | $616.0M | ||
| Q4 24 | $1.3B | $741.0M | ||
| Q3 24 | $1.3B | $628.0M | ||
| Q2 24 | $1.4B | $584.5M | ||
| Q1 24 | $1.4B | $491.3M |
| Q4 25 | $168.1M | $186.9M | ||
| Q3 25 | $146.6M | $115.5M | ||
| Q2 25 | $28.8M | $90.1M | ||
| Q1 25 | $92.8M | $50.7M | ||
| Q4 24 | $229.9M | $182.2M | ||
| Q3 24 | $84.4M | $94.2M | ||
| Q2 24 | $248.2M | $85.0M | ||
| Q1 24 | $98.3M | $31.7M |
| Q4 25 | 74.0% | 80.7% | ||
| Q3 25 | 72.8% | 78.1% | ||
| Q2 25 | 72.3% | 78.2% | ||
| Q1 25 | 71.6% | 76.8% | ||
| Q4 24 | 73.3% | 81.7% | ||
| Q3 24 | 71.7% | 80.5% | ||
| Q2 24 | 72.5% | 81.1% | ||
| Q1 24 | 73.0% | 78.9% |
| Q4 25 | 22.0% | 30.3% | ||
| Q3 25 | 21.0% | 21.8% | ||
| Q2 25 | 13.9% | 16.8% | ||
| Q1 25 | 16.7% | 8.8% | ||
| Q4 24 | 22.2% | 26.4% | ||
| Q3 24 | 16.3% | 17.3% | ||
| Q2 24 | 14.2% | 16.2% | ||
| Q1 24 | 15.7% | 5.8% |
| Q4 25 | 12.7% | 22.1% | ||
| Q3 25 | 11.4% | 15.6% | ||
| Q2 25 | 2.2% | 13.0% | ||
| Q1 25 | 7.4% | 8.2% | ||
| Q4 24 | 17.2% | 24.6% | ||
| Q3 24 | 6.6% | 15.0% | ||
| Q2 24 | 18.2% | 14.5% | ||
| Q1 24 | 6.8% | 6.4% |
| Q4 25 | $0.66 | $0.39 | ||
| Q3 25 | $0.58 | $0.23 | ||
| Q2 25 | $0.11 | $0.18 | ||
| Q1 25 | $0.35 | $0.10 | ||
| Q4 24 | $0.87 | $0.36 | ||
| Q3 24 | $0.32 | $0.19 | ||
| Q2 24 | $0.91 | $0.17 | ||
| Q1 24 | $0.36 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $1.3B |
| Total DebtLower is stronger | $6.4B | — |
| Stockholders' EquityBook value | $4.0B | $2.5B |
| Total Assets | $13.6B | $6.2B |
| Debt / EquityLower = less leverage | 1.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.1B | $1.9B | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | $1.1B | $1.4B |
| Q4 25 | $6.4B | — | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.4B | — | ||
| Q4 24 | $6.4B | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.4B | — | ||
| Q1 24 | $8.4B | — |
| Q4 25 | $4.0B | $2.5B | ||
| Q3 25 | $4.0B | $2.6B | ||
| Q2 25 | $3.9B | $2.7B | ||
| Q1 25 | $4.1B | $2.7B | ||
| Q4 24 | $4.2B | $2.9B | ||
| Q3 24 | $4.1B | $2.6B | ||
| Q2 24 | $4.2B | $2.4B | ||
| Q1 24 | $4.1B | $2.2B |
| Q4 25 | $13.6B | $6.2B | ||
| Q3 25 | $13.5B | $5.9B | ||
| Q2 25 | $13.8B | $6.0B | ||
| Q1 25 | $13.8B | $5.7B | ||
| Q4 24 | $13.7B | $6.1B | ||
| Q3 24 | $13.8B | $5.5B | ||
| Q2 24 | $14.2B | $5.2B | ||
| Q1 24 | $16.4B | $4.7B |
| Q4 25 | 1.58× | — | ||
| Q3 25 | 1.61× | — | ||
| Q2 25 | 1.62× | — | ||
| Q1 25 | 1.55× | — | ||
| Q4 24 | 1.51× | — | ||
| Q3 24 | 1.55× | — | ||
| Q2 24 | 1.52× | — | ||
| Q1 24 | 2.02× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $318.7M | $311.6M |
| Free Cash FlowOCF − Capex | $279.4M | $285.3M |
| FCF MarginFCF / Revenue | 21.1% | 33.7% |
| Capex IntensityCapex / Revenue | 3.0% | 3.1% |
| Cash ConversionOCF / Net Profit | 1.90× | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | $878.5M | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.7M | $311.6M | ||
| Q3 25 | $147.8M | $224.7M | ||
| Q2 25 | $158.2M | $165.0M | ||
| Q1 25 | $402.2M | $291.4M | ||
| Q4 24 | $348.0M | $199.4M | ||
| Q3 24 | $-77.8M | $273.3M | ||
| Q2 24 | $185.2M | $81.3M | ||
| Q1 24 | $384.7M | $185.5M |
| Q4 25 | $279.4M | $285.3M | ||
| Q3 25 | $101.2M | $158.3M | ||
| Q2 25 | $124.0M | $119.8M | ||
| Q1 25 | $373.8M | $232.3M | ||
| Q4 24 | $306.7M | $179.2M | ||
| Q3 24 | $-117.1M | $224.6M | ||
| Q2 24 | $145.2M | $59.1M | ||
| Q1 24 | $348.2M | $178.2M |
| Q4 25 | 21.1% | 33.7% | ||
| Q3 25 | 7.9% | 21.4% | ||
| Q2 25 | 9.5% | 17.3% | ||
| Q1 25 | 29.8% | 37.7% | ||
| Q4 24 | 23.0% | 24.2% | ||
| Q3 24 | -9.2% | 35.8% | ||
| Q2 24 | 10.7% | 10.1% | ||
| Q1 24 | 24.1% | 36.3% |
| Q4 25 | 3.0% | 3.1% | ||
| Q3 25 | 3.6% | 9.0% | ||
| Q2 25 | 2.6% | 6.5% | ||
| Q1 25 | 2.3% | 9.6% | ||
| Q4 24 | 3.1% | 2.7% | ||
| Q3 24 | 3.1% | 7.8% | ||
| Q2 24 | 2.9% | 3.8% | ||
| Q1 24 | 2.5% | 1.5% |
| Q4 25 | 1.90× | 1.67× | ||
| Q3 25 | 1.01× | 1.94× | ||
| Q2 25 | 5.49× | 1.83× | ||
| Q1 25 | 4.33× | 5.75× | ||
| Q4 24 | 1.51× | 1.09× | ||
| Q3 24 | -0.92× | 2.90× | ||
| Q2 24 | 0.75× | 0.96× | ||
| Q1 24 | 3.91× | 5.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
