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Side-by-side financial comparison of Trade Desk (The) (TTD) and VinFast Auto Ltd. (VFS). Click either name above to swap in a different company.
Trade Desk (The) is the larger business by last-quarter revenue ($846.8M vs $718.6M, roughly 1.2× VinFast Auto Ltd.). Trade Desk (The) runs the higher net margin — 22.1% vs -2.8%, a 24.9% gap on every dollar of revenue.
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.
VinFast Auto Ltd. is a Vietnamese multinational automotive company founded by Vingroup, one of the largest private conglomerates in Vietnam that was founded by Phạm Nhật Vượng.
TTD vs VFS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $846.8M | $718.6M |
| Net Profit | $186.9M | $-20.0M |
| Gross Margin | 80.7% | — |
| Operating Margin | 30.3% | -96.1% |
| Net Margin | 22.1% | -2.8% |
| Revenue YoY | 14.3% | — |
| Net Profit YoY | 2.6% | — |
| EPS (diluted) | $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 | $846.8M | — | ||
| Q3 25 | $739.4M | $718.6M | ||
| Q2 25 | $694.0M | $663.0M | ||
| Q1 25 | $616.0M | $656.5M | ||
| Q4 24 | $741.0M | — | ||
| Q3 24 | $628.0M | $511.6M | ||
| Q2 24 | $584.5M | — | ||
| Q1 24 | $491.3M | $302.6M |
| Q4 25 | $186.9M | — | ||
| Q3 25 | $115.5M | $-20.0M | ||
| Q2 25 | $90.1M | $-51.8M | ||
| Q1 25 | $50.7M | $-26.1M | ||
| Q4 24 | $182.2M | — | ||
| Q3 24 | $94.2M | $-10.4M | ||
| Q2 24 | $85.0M | — | ||
| Q1 24 | $31.7M | $-618.3M |
| Q4 25 | 80.7% | — | ||
| Q3 25 | 78.1% | — | ||
| Q2 25 | 78.2% | — | ||
| Q1 25 | 76.8% | — | ||
| Q4 24 | 81.7% | — | ||
| Q3 24 | 80.5% | — | ||
| Q2 24 | 81.1% | — | ||
| Q1 24 | 78.9% | — |
| Q4 25 | 30.3% | — | ||
| Q3 25 | 21.8% | -96.1% | ||
| Q2 25 | 16.8% | -79.0% | ||
| Q1 25 | 8.8% | -74.0% | ||
| Q4 24 | 26.4% | — | ||
| Q3 24 | 17.3% | -65.9% | ||
| Q2 24 | 16.2% | — | ||
| Q1 24 | 5.8% | -139.4% |
| Q4 25 | 22.1% | — | ||
| Q3 25 | 15.6% | -2.8% | ||
| Q2 25 | 13.0% | -7.8% | ||
| Q1 25 | 8.2% | -4.0% | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 15.0% | -2.0% | ||
| Q2 24 | 14.5% | — | ||
| Q1 24 | 6.4% | -204.3% |
| Q4 25 | $0.39 | — | ||
| Q3 25 | $0.23 | — | ||
| Q2 25 | $0.18 | — | ||
| Q1 25 | $0.10 | — | ||
| Q4 24 | $0.36 | — | ||
| Q3 24 | $0.19 | — | ||
| Q2 24 | $0.17 | — | ||
| Q1 24 | $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 | $8.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | — |
| Total Assets | $6.2B | $183.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.4B | $8.8M | ||
| Q2 25 | $1.7B | $650.0M | ||
| Q1 25 | $1.7B | $2.4M | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.7B | $1.9M | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.4B | $3.0M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.7B | $-7.2B | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.2B | — |
| Q4 25 | $6.2B | — | ||
| Q3 25 | $5.9B | $183.2M | ||
| Q2 25 | $6.0B | $7.2B | ||
| Q1 25 | $5.7B | $158.2M | ||
| Q4 24 | $6.1B | — | ||
| Q3 24 | $5.5B | $151.8M | ||
| Q2 24 | $5.2B | — | ||
| Q1 24 | $4.7B | $145.6M |
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 | $311.6M | — |
| Free Cash FlowOCF − Capex | $285.3M | — |
| FCF MarginFCF / Revenue | 33.7% | — |
| Capex IntensityCapex / Revenue | 3.1% | — |
| Cash ConversionOCF / Net Profit | 1.67× | — |
| TTM Free Cash FlowTrailing 4 quarters | $795.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $311.6M | — | ||
| Q3 25 | $224.7M | — | ||
| Q2 25 | $165.0M | — | ||
| Q1 25 | $291.4M | — | ||
| Q4 24 | $199.4M | — | ||
| Q3 24 | $273.3M | — | ||
| Q2 24 | $81.3M | — | ||
| Q1 24 | $185.5M | — |
| Q4 25 | $285.3M | — | ||
| Q3 25 | $158.3M | — | ||
| Q2 25 | $119.8M | — | ||
| Q1 25 | $232.3M | — | ||
| Q4 24 | $179.2M | — | ||
| Q3 24 | $224.6M | — | ||
| Q2 24 | $59.1M | — | ||
| Q1 24 | $178.2M | — |
| Q4 25 | 33.7% | — | ||
| Q3 25 | 21.4% | — | ||
| Q2 25 | 17.3% | — | ||
| Q1 25 | 37.7% | — | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 35.8% | — | ||
| Q2 24 | 10.1% | — | ||
| Q1 24 | 36.3% | — |
| Q4 25 | 3.1% | — | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | 9.6% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 7.8% | — | ||
| Q2 24 | 3.8% | — | ||
| Q1 24 | 1.5% | — |
| Q4 25 | 1.67× | — | ||
| Q3 25 | 1.94× | — | ||
| Q2 25 | 1.83× | — | ||
| Q1 25 | 5.75× | — | ||
| Q4 24 | 1.09× | — | ||
| Q3 24 | 2.90× | — | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 5.86× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
VFS
| Sales of vehicles | $662.9M | 92% |
| Sales of spare parts and components | $41.3M | 6% |
| Revenue from leasing activities | $12.3M | 2% |
| Finance income | $2.4M | 0% |
| Rendering of services | $1.2M | 0% |
