DoubleVerify Holdings Inc (DV) is slightly overvalued and Trade Desk Inc (TTD) is undervalued.
Against our estimates of intrinsic value, TTD trades at the wider discount: a margin of safety of +48%, against -17% for DV.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.8% (average of 3 methods) values the shares at $11.43; the price of $13.40 is 17% above that value, and 75% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
Discounting its cash flows at 9.6% (average of 3 methods) values the shares at $25.41; the price of $13.18 is 48% below that value, and 75% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
| Metric | DV | TTD |
|---|---|---|
| Verdict | Slightly overvalued | Undervalued |
| Price | $13.40 | $13.18 |
| Intrinsic value | $11.43 | $25.41 |
| Margin of safety | -17% | +48% |
| Leak Score | 27/100 (3/12) | 100/100 (3/12) |
| Market cap | $2.1B | $6.2B |
| Revenue growth, 5 years | 25.1% | 28.2% |
| Operating margin | 12.7% | 19.6% |
| Net margin | 7.7% | 13.6% |
| Return on equity | 5.4% | 15.4% |
| Debt to equity | 0.10 | 0.17 |
| P/E | 37.2x | 15.6x |
| Forward P/E | 23.6x | 53.0x |
| P/B | 1.9x | 2.4x |