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Side-by-side financial comparison of Trade Desk (The) (TTD) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
Trade Desk (The) is the larger business by last-quarter revenue ($846.8M vs $625.1M, roughly 1.4× WATTS WATER TECHNOLOGIES INC). Trade Desk (The) runs the higher net margin — 22.1% vs 13.4%, a 8.7% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 14.3%). Trade Desk (The) produced more free cash flow last quarter ($285.3M vs $140.3M). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% CAGR vs 4.6%).
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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
TTD vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $846.8M | $625.1M |
| Net Profit | $186.9M | $83.7M |
| Gross Margin | 80.7% | 49.5% |
| Operating Margin | 30.3% | 18.2% |
| Net Margin | 22.1% | 13.4% |
| Revenue YoY | 14.3% | 15.7% |
| Net Profit YoY | 2.6% | 24.0% |
| EPS (diluted) | $0.39 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $739.4M | $611.7M | ||
| Q2 25 | $694.0M | $643.7M | ||
| Q1 25 | $616.0M | $558.0M | ||
| Q4 24 | $741.0M | $540.4M | ||
| Q3 24 | $628.0M | $543.6M | ||
| Q2 24 | $584.5M | $597.3M | ||
| Q1 24 | $491.3M | $570.9M |
| Q4 25 | $186.9M | $83.7M | ||
| Q3 25 | $115.5M | $82.2M | ||
| Q2 25 | $90.1M | $100.9M | ||
| Q1 25 | $50.7M | $74.0M | ||
| Q4 24 | $182.2M | $67.5M | ||
| Q3 24 | $94.2M | $69.1M | ||
| Q2 24 | $85.0M | $82.0M | ||
| Q1 24 | $31.7M | $72.6M |
| Q4 25 | 80.7% | 49.5% | ||
| Q3 25 | 78.1% | 48.8% | ||
| Q2 25 | 78.2% | 50.6% | ||
| Q1 25 | 76.8% | 48.8% | ||
| Q4 24 | 81.7% | 46.7% | ||
| Q3 24 | 80.5% | 47.3% | ||
| Q2 24 | 81.1% | 47.7% | ||
| Q1 24 | 78.9% | 46.9% |
| Q4 25 | 30.3% | 18.2% | ||
| Q3 25 | 21.8% | 18.2% | ||
| Q2 25 | 16.8% | 21.0% | ||
| Q1 25 | 8.8% | 15.7% | ||
| Q4 24 | 26.4% | 16.5% | ||
| Q3 24 | 17.3% | 17.1% | ||
| Q2 24 | 16.2% | 18.7% | ||
| Q1 24 | 5.8% | 16.9% |
| Q4 25 | 22.1% | 13.4% | ||
| Q3 25 | 15.6% | 13.4% | ||
| Q2 25 | 13.0% | 15.7% | ||
| Q1 25 | 8.2% | 13.3% | ||
| Q4 24 | 24.6% | 12.5% | ||
| Q3 24 | 15.0% | 12.7% | ||
| Q2 24 | 14.5% | 13.7% | ||
| Q1 24 | 6.4% | 12.7% |
| Q4 25 | $0.39 | $2.50 | ||
| Q3 25 | $0.23 | $2.45 | ||
| Q2 25 | $0.18 | $3.01 | ||
| Q1 25 | $0.10 | $2.21 | ||
| Q4 24 | $0.36 | $2.02 | ||
| Q3 24 | $0.19 | $2.06 | ||
| Q2 24 | $0.17 | $2.44 | ||
| Q1 24 | $0.06 | $2.17 |
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 | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $2.0B |
| Total Assets | $6.2B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $405.5M | ||
| Q3 25 | $1.4B | $457.7M | ||
| Q2 25 | $1.7B | $369.3M | ||
| Q1 25 | $1.7B | $336.8M | ||
| Q4 24 | $1.9B | $386.9M | ||
| Q3 24 | $1.7B | $303.9M | ||
| Q2 24 | $1.5B | $279.4M | ||
| Q1 24 | $1.4B | $237.1M |
| Q4 25 | $2.5B | $2.0B | ||
| Q3 25 | $2.6B | $2.0B | ||
| Q2 25 | $2.7B | $1.9B | ||
| Q1 25 | $2.7B | $1.8B | ||
| Q4 24 | $2.9B | $1.7B | ||
| Q3 24 | $2.6B | $1.7B | ||
| Q2 24 | $2.4B | $1.6B | ||
| Q1 24 | $2.2B | $1.6B |
| Q4 25 | $6.2B | $2.9B | ||
| Q3 25 | $5.9B | $2.7B | ||
| Q2 25 | $6.0B | $2.6B | ||
| Q1 25 | $5.7B | $2.5B | ||
| Q4 24 | $6.1B | $2.4B | ||
| Q3 24 | $5.5B | $2.4B | ||
| Q2 24 | $5.2B | $2.4B | ||
| Q1 24 | $4.7B | $2.3B |
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 | $154.7M |
| Free Cash FlowOCF − Capex | $285.3M | $140.3M |
| FCF MarginFCF / Revenue | 33.7% | 22.4% |
| Capex IntensityCapex / Revenue | 3.1% | 2.3% |
| Cash ConversionOCF / Net Profit | 1.67× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $795.7M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $311.6M | $154.7M | ||
| Q3 25 | $224.7M | $122.4M | ||
| Q2 25 | $165.0M | $69.7M | ||
| Q1 25 | $291.4M | $55.2M | ||
| Q4 24 | $199.4M | $139.5M | ||
| Q3 24 | $273.3M | $90.7M | ||
| Q2 24 | $81.3M | $85.3M | ||
| Q1 24 | $185.5M | $45.6M |
| Q4 25 | $285.3M | $140.3M | ||
| Q3 25 | $158.3M | $110.9M | ||
| Q2 25 | $119.8M | $59.5M | ||
| Q1 25 | $232.3M | $45.6M | ||
| Q4 24 | $179.2M | $127.5M | ||
| Q3 24 | $224.6M | $84.3M | ||
| Q2 24 | $59.1M | $78.5M | ||
| Q1 24 | $178.2M | $35.5M |
| Q4 25 | 33.7% | 22.4% | ||
| Q3 25 | 21.4% | 18.1% | ||
| Q2 25 | 17.3% | 9.2% | ||
| Q1 25 | 37.7% | 8.2% | ||
| Q4 24 | 24.2% | 23.6% | ||
| Q3 24 | 35.8% | 15.5% | ||
| Q2 24 | 10.1% | 13.1% | ||
| Q1 24 | 36.3% | 6.2% |
| Q4 25 | 3.1% | 2.3% | ||
| Q3 25 | 9.0% | 1.9% | ||
| Q2 25 | 6.5% | 1.6% | ||
| Q1 25 | 9.6% | 1.7% | ||
| Q4 24 | 2.7% | 2.2% | ||
| Q3 24 | 7.8% | 1.2% | ||
| Q2 24 | 3.8% | 1.1% | ||
| Q1 24 | 1.5% | 1.8% |
| Q4 25 | 1.67× | 1.85× | ||
| Q3 25 | 1.94× | 1.49× | ||
| Q2 25 | 1.83× | 0.69× | ||
| Q1 25 | 5.75× | 0.75× | ||
| Q4 24 | 1.09× | 2.07× | ||
| Q3 24 | 2.90× | 1.31× | ||
| Q2 24 | 0.96× | 1.04× | ||
| Q1 24 | 5.86× | 0.63× |
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% |
WTS
Segment breakdown not available.
