The Trade Desk (TTD) has experienced significant revenue growth, expanding from $200 million in 2016 to $2.8 billion in the most recent trailing twelve-month period, representing a compounded annual growth rate of 34.9%. Despite recent revenue growth slowing to below 20%, it remains double-digit and outpaces the advertising industry's high single-digit growth, indicating market share gains. However, investor concerns stem from increased competition, particularly Amazon's advancements in its demand-side platform (DSP) that could bypass TTD, and recent leadership changes. Profitability, measured by Return on Invested Capital (ROIC), initially declined from 59.4% in 2016 to 5.2% in 2022 but has since recovered to 25.7% in the trailing twelve-month period, reflecting management's resilience. The Operating Cash Flow to Sales ratio, though volatile between 2016 and 2020, has stabilized in the low 30% range since 2021, which is considered a strong metric for a company that serves digital ad buyers. Digital advertising offers superior measurability compared to traditional media, attracting more advertising budgets. Valuation metrics show TTD's forward Price-to-Earnings (P/E) at 20 and Price-to-Operating-Cash-Flow (P/OCF) at 18, both at multi-year lows, suggesting undervaluation. A proprietary discounted cash flow (DCF) model calculates an intrinsic value per share of $70.42 against a current market price of $39.75, indicating a significant undervaluation. The analysis concludes that TTD is a buy.