Comprehensive Stock Comparison
Compare Remitly Global, Inc. (RELY) vs Block, Inc. (XYZ) vs Corpay, Inc. (CPAY) vs Affirm Holdings, Inc. (AFRM) vs Toast, Inc. (TOST) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | AFRM | 38.8% revenue growth vs XYZ's 0.3% |
| Value | XYZ | Lower P/E (19.0x vs 22.4x) |
| Quality / Margins | CPAY | 24.4% net margin vs RELY's 1.4% |
| Stability / Safety | RELY | Beta 0.95 vs AFRM's 2.41, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | XYZ | -2.5% vs RELY's -30.4% |
| Efficiency (ROA) | TOST | 10.9% ROA vs RELY's 1.7%, ROIC 30.8% vs 14.0% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Remitly operates a digital financial services platform focused on cross-border money transfers for immigrants and their families. It generates revenue primarily from transaction fees on remittances — earning a spread on foreign exchange rates — with additional income from its banking products like Passbook. The company's competitive advantage lies in its mobile-first digital platform that offers faster, cheaper, and more transparent transfers than traditional remittance channels, combined with deep understanding of immigrant financial needs.
Block is a financial technology company that provides payment processing and business software tools primarily for small and medium-sized businesses. It generates revenue primarily from transaction fees on payment processing — about 90% of total revenue — with additional income from subscription services, hardware sales, and banking services like Cash App. The company's key advantage is its integrated ecosystem that combines payment hardware, software, and banking services, creating network effects and high switching costs for merchants.
Corpay is a global payments company that helps businesses manage vehicle-related expenses, corporate payments, and lodging costs. It generates revenue primarily through transaction fees from its vehicle payment solutions — fuel, tolls, and fleet maintenance — and corporate payment automation services, with its cross-border and virtual card products forming significant segments. The company's competitive advantage lies in its specialized vertical expertise in complex business payments and its established network of merchants and fuel providers across multiple countries.
Affirm operates a buy-now-pay-later platform that enables consumers to split purchases into installment payments at online and physical retailers. It generates revenue primarily from merchant fees — typically 3-6% of transaction value — and interest income from longer-term loans to consumers. Its key advantage is a transparent, fee-free model that builds consumer trust and a growing merchant network that creates a two-sided marketplace effect.
Toast is a cloud-based restaurant management platform that provides point-of-sale systems, payment processing, and operational software to eateries. It generates revenue primarily through subscription fees for its software platform (about 25% of revenue) and payment processing fees from restaurant transactions (roughly 70% of revenue). The company's competitive advantage lies in its integrated ecosystem—combining hardware, software, and payments—which creates high switching costs for restaurants once they adopt the full Toast system.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
CPAY leads in 1 of 6 categories (Financial Metrics). TOST leads in 1 (Profitability & Efficiency). 3 tied.
Financial Metrics (TTM)
XYZ is the larger business by revenue, generating $24.2B annually — 15.7x RELY's $1.5B. CPAY is the more profitable business, keeping 24.4% of every revenue dollar as net income compared to RELY's 1.4%. On growth, RELY holds the edge at +24.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | RELYRemitly Global, I… | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $1.5B | $24.2B | $4.3B | $2.9B | $6.2B |
| EBITDAEarnings before interest/tax | $63M | $1.7B | $2.3B | $420M | $361M |
| Net IncomeAfter-tax profit | $21M | $1.3B | $1.1B | $282M | $342M |
| Free Cash FlowCash after capex | $193M | $2.4B | $1.1B | $619M | $608M |
| Gross MarginGross profit ÷ Revenue | +59.5% | +42.8% | +76.1% | +59.5% | +25.8% |
| Operating MarginEBIT ÷ Revenue | +2.3% | +7.1% | +44.5% | +7.9% | +4.8% |
| Net MarginNet income ÷ Revenue | +1.4% | +5.4% | +24.4% | +9.7% | +5.6% |
| FCF MarginFCF ÷ Revenue | +12.5% | +10.0% | +26.5% | +21.2% | +9.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +24.7% | +3.6% | +13.9% | -62.1% | +22.0% |
| EPS Growth (YoY)Latest quarter vs prior year | — | -93.8% | +0.3% | +60.9% | +190.9% |
Valuation Metrics
At 23.3x trailing earnings, CPAY trades at a 93% valuation discount to AFRM's 313.2x P/E. Adjusting for growth (PEG ratio), XYZ offers better value at 0.83x vs CPAY's 3.30x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | RELYRemitly Global, I… | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| Market CapShares × price | $3.5B | $38.4B | $22.8B | $15.3B | $14.3B |
| Enterprise ValueMkt cap + debt − cash | $3.1B | $39.1B | $29.3B | $21.8B | $13.0B |
| Trailing P/EPrice ÷ TTM EPS | 53.87x | 30.33x | 23.27x | 313.20x | 48.77x |
| Forward P/EPrice ÷ next-FY EPS est. | 14.52x | 19.00x | 12.50x | 43.63x | 22.38x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.83x | 3.30x | — | — |
| EV / EBITDAEnterprise value multiple | 30.69x | 22.87x | 13.68x | 158.00x | 34.87x |
| Price / SalesMarket cap ÷ Revenue | 2.14x | 1.59x | 5.74x | 4.74x | 2.32x |
| Price / BookPrice ÷ Book value/share | 4.18x | 1.79x | 7.42x | 5.22x | 7.80x |
| Price / FCFMarket cap ÷ FCF | 11.82x | 15.82x | 12.92x | 25.38x | 23.49x |
Profitability & Efficiency
CPAY delivers a 25.5% return on equity — every $100 of shareholder capital generates $26 in annual profit, vs $3 for RELY. TOST carries lower financial leverage with a 0.02x debt-to-equity ratio, signaling a more conservative balance sheet compared to AFRM's 2.56x. On the Piotroski fundamental quality scale (0–9), TOST scores 7/9 vs CPAY's 4/9, reflecting strong financial health.
| Metric | RELYRemitly Global, I… | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +2.6% | +5.9% | +25.5% | +8.0% | +16.1% |
| ROA (TTM)Return on assets | +1.7% | +3.3% | +5.3% | +2.2% | +10.9% |
| ROICReturn on invested capital | +14.0% | +6.4% | +14.7% | -0.7% | +30.8% |
| ROCEReturn on capital employed | +8.9% | +6.0% | +20.0% | -0.9% | +15.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 | 4 | 6 | 7 |
| Debt / EquityFinancial leverage | 0.22x | 0.33x | 2.54x | 2.56x | 0.02x |
| Net DebtTotal debt minus cash | -$350M | $725M | $6.4B | $6.5B | -$1.3B |
| Cash & Equiv.Liquid assets | $542M | $6.6B | $1.6B | $1.4B | $1.4B |
| Total DebtShort + long-term debt | $192M | $7.3B | $8.0B | $7.9B | $40M |
| Interest CoverageEBIT ÷ Interest expense | 6.03x | 13.21x | 4.97x | 1.49x | — |
Total Returns (with DRIP)
A $10,000 investment in CPAY five years ago would be worth $11,508 today (with dividends reinvested), compared to $2,643 for XYZ. Over the past 12 months, XYZ leads with a -2.5% total return vs RELY's -30.4%. The 3-year compound annual growth rate (CAGR) favors AFRM at 51.1% vs XYZ's -6.0% — a key indicator of consistent wealth creation.
| Metric | RELYRemitly Global, I… | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +26.3% | -2.2% | +8.2% | -36.5% | -19.7% |
| 1-Year ReturnPast 12 months | -30.4% | -2.5% | -11.4% | -26.8% | -29.2% |
| 3-Year ReturnCumulative with dividends | +14.1% | -17.0% | +51.4% | +244.9% | +44.3% |
| 5-Year ReturnCumulative with dividends | -65.5% | -73.6% | +15.1% | -48.6% | -56.3% |
| 10-Year ReturnCumulative with dividends | -65.5% | +510.2% | +154.6% | -51.7% | -56.3% |
| CAGR (3Y)Annualised 3-year return | +4.5% | -6.0% | +14.8% | +51.1% | +13.0% |
Risk & Volatility
RELY is the less volatile stock with a 0.95 beta — it tends to amplify market swings less than AFRM's 2.41 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CPAY currently trades 86.6% from its 52-week high vs AFRM's 47.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | RELYRemitly Global, I… | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.95x | 1.59x | 1.46x | 2.41x | 1.51x |
| 52-Week HighHighest price in past year | $24.71 | $82.50 | $375.61 | $100.00 | $49.66 |
| 52-Week LowLowest price in past year | $12.08 | $44.27 | $252.84 | $30.90 | $24.35 |
| % of 52W HighCurrent price vs 52-week peak | +67.6% | +77.2% | +86.6% | +47.0% | +55.0% |
| RSI (14)Momentum oscillator 0–100 | 69.1 | 45.6 | 50.9 | 34.4 | 44.1 |
| Avg Volume (50D)Average daily shares traded | 3.0M | 5.8M | 512K | 5.3M | 9.2M |
Analyst Outlook
Analyst consensus: RELY as "Buy", XYZ as "Buy", CPAY as "Buy", AFRM as "Buy", TOST as "Buy". Consensus price targets imply 79.7% upside for AFRM (target: $84) vs 11.4% for CPAY (target: $362).
| Metric | RELYRemitly Global, I… | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $20.50 | $84.67 | $362.29 | $84.40 | $39.82 |
| # AnalystsCovering analysts | 13 | 33 | 18 | 32 | 29 |
| Dividend YieldAnnual dividend ÷ price | — | — | — | — | — |
| Dividend StreakConsecutive years of raises | — | — | — | — | — |
| Dividend / ShareAnnual DPS | — | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.7% | 0.0% | +5.6% | +1.6% | +0.7% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Sep 21 | Feb 26 | Change |
|---|---|---|---|
| Remitly Global, Inc. (RELY) | 100 | 27.51 | -72.5% |
| Block, Inc. (XYZ) | 100 | 25.24 | -74.8% |
| Corpay, Inc. (CPAY) | 100 | 114.31 | +14.3% |
| Affirm Holdings, In… (AFRM) | 100 | 52.6 | -47.4% |
| Toast, Inc. (TOST) | 100 | 58.86 | -41.1% |
Corpay, Inc. (CPAY) returned +15% over 5 years vs Block, Inc. (XYZ)'s -74%. A $10,000 investment in CPAY 5 years ago would be worth $11,508 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Remitly Global, Inc. (RELY) | $1.2B | $1.6B | +30.8% |
| Block, Inc. (XYZ) | $1.7B | $24.2B | +1315.9% |
| Corpay, Inc. (CPAY) | $1.8B | $4.0B | +117.0% |
| Affirm Holdings, In… (AFRM) | $264M | $3.2B | +1119.7% |
| Toast, Inc. (TOST) | $665M | $6.2B | +825.3% |
Remitly Global, Inc.'s revenue grew from $1.2B (2016) to $1.6B (2025) — a 3.0% CAGR. Block, Inc.'s revenue grew from $1.7B (2016) to $24.2B (2025) — a 34.2% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Remitly Global, Inc. (RELY) | -8.3% | 4.2% | +150.3% |
| Block, Inc. (XYZ) | -10.0% | 5.4% | +153.7% |
| Corpay, Inc. (CPAY) | 24.7% | 25.3% | +2.2% |
| Affirm Holdings, In… (AFRM) | -45.6% | 1.6% | +103.6% |
| Toast, Inc. (TOST) | -31.4% | 5.6% | +117.7% |
Remitly Global, Inc.'s net margin went from -8% (2016) to 4% (2025). Block, Inc.'s net margin went from -10% (2016) to 5% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Block, Inc. (XYZ) | 77.2 | 31 | -59.8% |
| Corpay, Inc. (CPAY) | 24.3 | 24.2 | -0.4% |
Block, Inc. has traded in a 19x–495x P/E range over 5 years; current trailing P/E is ~30x. Corpay, Inc. has traded in a 15x–34x P/E range over 8 years; current trailing P/E is ~23x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Remitly Global, Inc. (RELY) | -3.57 | 0.31 | +108.7% |
| Block, Inc. (XYZ) | -0.5 | 2.1 | +520.0% |
| Corpay, Inc. (CPAY) | 4.75 | 13.97 | +194.1% |
| Affirm Holdings, In… (AFRM) | -0.47 | 0.15 | +131.9% |
| Toast, Inc. (TOST) | -0.45 | 0.56 | +224.4% |
Remitly Global, Inc.'s EPS grew from $-3.57 (2016) to $0.31 (2025). Block, Inc.'s EPS grew from $-0.50 (2016) to $2.10 (2025).
Chart 6Free Cash Flow — 5 Years
Remitly Global, Inc. generated $296M FCF in 2025 (+1390% vs 2021). Block, Inc. generated $2B FCF in 2025 (+346% vs 2021).
RELY vs XYZ vs CPAY vs AFRM vs TOST: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is RELY or XYZ or CPAY or AFRM or TOST a better buy right now?
Corpay, Inc. (CPAY) offers the better valuation at 23.3x trailing P/E (12.5x forward), making it the more compelling value choice. Analysts rate Remitly Global, Inc. (RELY) a "Buy" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — RELY or XYZ or CPAY or AFRM or TOST?
On trailing P/E, Corpay, Inc. (CPAY) is the cheapest at 23.3x versus Affirm Holdings, Inc. at 313.2x. On forward P/E, Corpay, Inc. is actually cheaper at 12.5x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Block, Inc. wins at 0.52x versus Corpay, Inc.'s 1.77x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — RELY or XYZ or CPAY or AFRM or TOST?
Over the past 5 years, Corpay, Inc. (CPAY) delivered a total return of +15.1%, compared to -73.6% for Block, Inc. (XYZ). A $10,000 investment in CPAY five years ago would be worth approximately $12K today (assuming dividends reinvested). Over 10 years, the gap is even starker: XYZ returned +510.2% versus RELY's -65.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — RELY or XYZ or CPAY or AFRM or TOST?
By beta (market sensitivity over 5 years), Remitly Global, Inc. (RELY) is the lower-risk stock at 0.95β versus Affirm Holdings, Inc.'s 2.41β — meaning AFRM is approximately 154% more volatile than RELY relative to the S&P 500. On balance sheet safety, Toast, Inc. (TOST) carries a lower debt/equity ratio of 2% versus 3% for Affirm Holdings, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — RELY or XYZ or CPAY or AFRM or TOST?
Corpay, Inc. (CPAY) is the more profitable company, earning 25.3% net margin versus 1.6% for Affirm Holdings, Inc. — meaning it keeps 25.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CPAY leads at 45.0% versus -2.7% for AFRM. At the gross margin level — before operating expenses — CPAY leads at 78.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is RELY or XYZ or CPAY or AFRM or TOST more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Block, Inc. (XYZ) is the more undervalued stock at a PEG of 0.52x versus Corpay, Inc.'s 1.77x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Corpay, Inc. (CPAY) trades at 12.5x forward P/E versus 43.6x for Affirm Holdings, Inc. — 31.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AFRM: 79.7% to $84.40.
07Which pays a better dividend — RELY or XYZ or CPAY or AFRM or TOST?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is RELY or XYZ or CPAY or AFRM or TOST better for a retirement portfolio?
For long-horizon retirement investors, Remitly Global, Inc. (RELY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.95)). Affirm Holdings, Inc. (AFRM) carries a higher beta of 2.41 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (RELY: -65.5%, AFRM: -51.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between RELY and XYZ and CPAY and AFRM and TOST?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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