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Trade Desk (The)（TTD）与Zoom Communications, Inc.（ZM）财务数据对比。点击上方公司名可切换其他公司
Zoom Communications, Inc.的季度营收约是Trade Desk (The)的1.5倍（$1.2B vs $846.8M）。Zoom Communications, Inc.净利率更高（49.8% vs 22.1%，领先27.8%）。Trade Desk (The)同比增速更快（14.3% vs 4.4%）。Zoom Communications, Inc.自由现金流更多（$614.3M vs $285.3M）。过去两年Trade Desk (The)的营收复合增速更高（31.3% vs 3.6%）
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
Zoom是总部位于美国加利福尼亚州圣何塞的通信技术企业，旗下核心产品Zoom视频会议软件全球普及度极高，可为企业及个人用户提供高清稳定的远程音视频沟通、线上会议、协同办公等一站式数字化协作解决方案。
TTD vs ZM — 直观对比
营收规模更大
ZM
是对方的1.5倍
$846.8M
营收增速更快
TTD
高出9.8%
4.4%
净利率更高
ZM
高出27.8%
22.1%
自由现金流更多
ZM
多$329.1M
$285.3M
两年增速更快
TTD
近两年复合增速
3.6%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $846.8M | $1.2B |
| 净利润 | $186.9M | $612.9M |
| 毛利率 | 80.7% | 77.9% |
| 营业利润率 | 30.3% | 25.2% |
| 净利率 | 22.1% | 49.8% |
| 营收同比 | 14.3% | 4.4% |
| 净利润同比 | 2.6% | 196.0% |
| 每股收益（稀释后） | $0.39 | $2.01 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收TTDZM
| Q4 25 | $846.8M | $1.2B | ||
| Q3 25 | $739.4M | $1.2B | ||
| Q2 25 | $694.0M | $1.2B | ||
| Q1 25 | $616.0M | $1.2B | ||
| Q4 24 | $741.0M | $1.2B | ||
| Q3 24 | $628.0M | $1.2B | ||
| Q2 24 | $584.5M | $1.1B | ||
| Q1 24 | $491.3M | $1.1B |
净利润TTDZM
| Q4 25 | $186.9M | $612.9M | ||
| Q3 25 | $115.5M | $358.6M | ||
| Q2 25 | $90.1M | $254.6M | ||
| Q1 25 | $50.7M | $367.9M | ||
| Q4 24 | $182.2M | $207.1M | ||
| Q3 24 | $94.2M | $219.0M | ||
| Q2 24 | $85.0M | $216.3M | ||
| Q1 24 | $31.7M | $298.8M |
毛利率TTDZM
| Q4 25 | 80.7% | 77.9% | ||
| Q3 25 | 78.1% | 77.6% | ||
| Q2 25 | 78.2% | 76.3% | ||
| Q1 25 | 76.8% | 75.7% | ||
| Q4 24 | 81.7% | 75.9% | ||
| Q3 24 | 80.5% | 75.5% | ||
| Q2 24 | 81.1% | 76.1% | ||
| Q1 24 | 78.9% | 75.9% |
营业利润率TTDZM
| Q4 25 | 30.3% | 25.2% | ||
| Q3 25 | 21.8% | 26.4% | ||
| Q2 25 | 16.8% | 20.6% | ||
| Q1 25 | 8.8% | 19.0% | ||
| Q4 24 | 26.4% | 15.5% | ||
| Q3 24 | 17.3% | 17.4% | ||
| Q2 24 | 16.2% | 17.8% | ||
| Q1 24 | 5.8% | 14.7% |
净利率TTDZM
| Q4 25 | 22.1% | 49.8% | ||
| Q3 25 | 15.6% | 29.5% | ||
| Q2 25 | 13.0% | 21.7% | ||
| Q1 25 | 8.2% | 31.1% | ||
| Q4 24 | 24.6% | 17.6% | ||
| Q3 24 | 15.0% | 18.8% | ||
| Q2 24 | 14.5% | 19.0% | ||
| Q1 24 | 6.4% | 26.1% |
每股收益（稀释后）TTDZM
| Q4 25 | $0.39 | $2.01 | ||
| Q3 25 | $0.23 | $1.16 | ||
| Q2 25 | $0.18 | $0.81 | ||
| Q1 25 | $0.10 | $1.16 | ||
| Q4 24 | $0.36 | $0.66 | ||
| Q3 24 | $0.19 | $0.70 | ||
| Q2 24 | $0.17 | $0.69 | ||
| Q1 24 | $0.06 | $0.98 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.3B | $1.2B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.5B | $9.3B |
| 总资产 | $6.2B | $11.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资TTDZM
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.4B | $1.2B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.9B | $1.3B | ||
| Q3 24 | $1.7B | $1.5B | ||
| Q2 24 | $1.5B | $1.9B | ||
| Q1 24 | $1.4B | $1.6B |
股东权益TTDZM
| Q4 25 | $2.5B | $9.3B | ||
| Q3 25 | $2.6B | $9.0B | ||
| Q2 25 | $2.7B | $8.9B | ||
| Q1 25 | $2.7B | $8.9B | ||
| Q4 24 | $2.9B | $8.7B | ||
| Q3 24 | $2.6B | $8.5B | ||
| Q2 24 | $2.4B | $8.3B | ||
| Q1 24 | $2.2B | $8.0B |
总资产TTDZM
| Q4 25 | $6.2B | $11.4B | ||
| Q3 25 | $5.9B | $11.0B | ||
| Q2 25 | $6.0B | $11.0B | ||
| Q1 25 | $5.7B | $11.0B | ||
| Q4 24 | $6.1B | $10.7B | ||
| Q3 24 | $5.5B | $10.5B | ||
| Q2 24 | $5.2B | $10.3B | ||
| Q1 24 | $4.7B | $9.9B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $311.6M | $629.3M |
| 自由现金流经营现金流 - 资本支出 | $285.3M | $614.3M |
| 自由现金流率自由现金流/营收 | 33.7% | 50.0% |
| 资本支出强度资本支出/营收 | 3.1% | 1.2% |
| 现金转化率经营现金流/净利润 | 1.67× | 1.03× |
| 过去12个月自由现金流最近4个季度 | $795.7M | $2.0B |
8季度趋势，按日历期对齐
经营现金流TTDZM
| Q4 25 | $311.6M | $629.3M | ||
| Q3 25 | $224.7M | $515.9M | ||
| Q2 25 | $165.0M | $489.3M | ||
| Q1 25 | $291.4M | $424.6M | ||
| Q4 24 | $199.4M | $483.2M | ||
| Q3 24 | $273.3M | $449.3M | ||
| Q2 24 | $81.3M | $588.2M | ||
| Q1 24 | $185.5M | $351.2M |
自由现金流TTDZM
| Q4 25 | $285.3M | $614.3M | ||
| Q3 25 | $158.3M | $508.0M | ||
| Q2 25 | $119.8M | $463.4M | ||
| Q1 25 | $232.3M | $416.2M | ||
| Q4 24 | $179.2M | $457.7M | ||
| Q3 24 | $224.6M | $365.1M | ||
| Q2 24 | $59.1M | $569.7M | ||
| Q1 24 | $178.2M | $332.7M |
自由现金流率TTDZM
| Q4 25 | 33.7% | 50.0% | ||
| Q3 25 | 21.4% | 41.7% | ||
| Q2 25 | 17.3% | 39.4% | ||
| Q1 25 | 37.7% | 35.2% | ||
| Q4 24 | 24.2% | 38.9% | ||
| Q3 24 | 35.8% | 31.4% | ||
| Q2 24 | 10.1% | 49.9% | ||
| Q1 24 | 36.3% | 29.0% |
资本支出强度TTDZM
| Q4 25 | 3.1% | 1.2% | ||
| Q3 25 | 9.0% | 0.7% | ||
| Q2 25 | 6.5% | 2.2% | ||
| Q1 25 | 9.6% | 0.7% | ||
| Q4 24 | 2.7% | 2.2% | ||
| Q3 24 | 7.8% | 7.2% | ||
| Q2 24 | 3.8% | 1.6% | ||
| Q1 24 | 1.5% | 1.6% |
现金转化率TTDZM
| Q4 25 | 1.67× | 1.03× | ||
| Q3 25 | 1.94× | 1.44× | ||
| Q2 25 | 1.83× | 1.92× | ||
| Q1 25 | 5.75× | 1.15× | ||
| Q4 24 | 1.09× | 2.33× | ||
| Q3 24 | 2.90× | 2.05× | ||
| Q2 24 | 0.96× | 2.72× | ||
| Q1 24 | 5.86× | 1.18× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
