Comprehensive Stock Comparison
Compare StoneCo Ltd. (STNE) 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 | STNE | Lower P/E (1.5x vs 22.4x) |
| Quality / Margins | CPAY | 24.4% net margin vs STNE's -31.3% |
| Stability / Safety | STNE | Beta 1.02 vs AFRM's 2.41, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | STNE | +81.6% vs TOST's -29.2% |
| Efficiency (ROA) | TOST | 10.9% ROA vs STNE's -2.3%, ROIC 30.8% vs -7.2% |
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
StoneCo is a Brazilian financial technology company that provides payment processing and digital commerce solutions primarily to small and medium-sized businesses. It generates revenue mainly from transaction fees on payment processing—both in-store and online—alongside software subscription fees and financial services. The company's competitive advantage lies in its hyper-local distribution network of Stone Hubs, which offer personalized service and deep market penetration across Brazil's fragmented merchant landscape.
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
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
CPAY leads in 1 of 6 categories (Financial Metrics). XYZ leads in 1 (Valuation Metrics). 2 tied.
Financial Metrics (TTM)
XYZ is the larger business by revenue, generating $24.2B annually — 8.3x AFRM's $2.9B. CPAY is the more profitable business, keeping 24.4% of every revenue dollar as net income compared to STNE's -31.3%. On growth, TOST holds the edge at +22.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | STNEStoneCo Ltd. | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $4.2B | $24.2B | $4.3B | $2.9B | $6.2B |
| EBITDAEarnings before interest/tax | -$1.5B | $1.7B | $2.3B | $420M | $361M |
| Net IncomeAfter-tax profit | -$1.3B | $1.3B | $1.1B | $282M | $342M |
| Free Cash FlowCash after capex | -$1.4B | $2.4B | $1.1B | $619M | $608M |
| Gross MarginGross profit ÷ Revenue | +12.7% | +42.8% | +76.1% | +59.5% | +25.8% |
| Operating MarginEBIT ÷ Revenue | -59.1% | +7.1% | +44.5% | +7.9% | +4.8% |
| Net MarginNet income ÷ Revenue | -31.3% | +5.4% | +24.4% | +9.7% | +5.6% |
| FCF MarginFCF ÷ Revenue | -33.6% | +10.0% | +26.5% | +21.2% | +9.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | -15.7% | +3.6% | +13.9% | -62.1% | +22.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +36.5% | -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 | STNEStoneCo Ltd. | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| Market CapShares × price | $4.1B | $38.4B | $22.8B | $15.3B | $14.3B |
| Enterprise ValueMkt cap + debt − cash | $5.6B | $39.1B | $29.3B | $21.8B | $13.0B |
| Trailing P/EPrice ÷ TTM EPS | -17.28x | 30.33x | 23.27x | 313.20x | 48.77x |
| Forward P/EPrice ÷ next-FY EPS est. | 1.50x | 19.00x | 12.50x | 43.63x | 22.38x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.83x | 3.30x | — | — |
| EV / EBITDAEnterprise value multiple | — | 22.87x | 13.68x | 158.00x | 34.87x |
| Price / SalesMarket cap ÷ Revenue | 3.67x | 1.59x | 5.74x | 4.74x | 2.32x |
| Price / BookPrice ÷ Book value/share | 2.21x | 1.79x | 7.42x | 5.22x | 7.80x |
| Price / FCFMarket cap ÷ FCF | — | 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 $-11 for STNE. 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 STNE's 3/9, reflecting strong financial health.
| Metric | STNEStoneCo Ltd. | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | -11.2% | +5.9% | +25.5% | +8.0% | +16.1% |
| ROA (TTM)Return on assets | -2.3% | +3.3% | +5.3% | +2.2% | +10.9% |
| ROICReturn on invested capital | -7.2% | +6.4% | +14.7% | -0.7% | +30.8% |
| ROCEReturn on capital employed | -8.7% | +6.0% | +20.0% | -0.9% | +15.9% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 6 | 4 | 6 | 7 |
| Debt / EquityFinancial leverage | 1.09x | 0.33x | 2.54x | 2.56x | 0.02x |
| Net DebtTotal debt minus cash | $7.7B | $725M | $6.4B | $6.5B | -$1.3B |
| Cash & Equiv.Liquid assets | $5.2B | $6.6B | $1.6B | $1.4B | $1.4B |
| Total DebtShort + long-term debt | $12.9B | $7.3B | $8.0B | $7.9B | $40M |
| Interest CoverageEBIT ÷ Interest expense | 0.79x | 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 $1,874 for STNE. Over the past 12 months, STNE leads with a +81.6% total return vs TOST's -29.2%. 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 | STNEStoneCo Ltd. | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +14.4% | -2.2% | +8.2% | -36.5% | -19.7% |
| 1-Year ReturnPast 12 months | +81.6% | -2.5% | -11.4% | -26.8% | -29.2% |
| 3-Year ReturnCumulative with dividends | +97.4% | -17.0% | +51.4% | +244.9% | +44.3% |
| 5-Year ReturnCumulative with dividends | -81.3% | -73.6% | +15.1% | -48.6% | -56.3% |
| 10-Year ReturnCumulative with dividends | -46.4% | +510.2% | +154.6% | -51.7% | -56.3% |
| CAGR (3Y)Annualised 3-year return | +25.4% | -6.0% | +14.8% | +51.1% | +13.0% |
Risk & Volatility
STNE is the less volatile stock with a 1.02 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 | STNEStoneCo Ltd. | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.02x | 1.59x | 1.46x | 2.41x | 1.51x |
| 52-Week HighHighest price in past year | $19.95 | $82.50 | $375.61 | $100.00 | $49.66 |
| 52-Week LowLowest price in past year | $8.64 | $44.27 | $252.84 | $30.90 | $24.35 |
| % of 52W HighCurrent price vs 52-week peak | +84.2% | +77.2% | +86.6% | +47.0% | +55.0% |
| RSI (14)Momentum oscillator 0–100 | 51.4 | 45.6 | 50.9 | 34.4 | 44.1 |
| Avg Volume (50D)Average daily shares traded | 4.2M | 5.8M | 512K | 5.3M | 9.2M |
Analyst Outlook
Analyst consensus: STNE 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 | STNEStoneCo Ltd. | XYZBlock, Inc. | CPAYCorpay, Inc. | AFRMAffirm Holdings, … | TOSTToast, Inc. |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $20.38 | $84.67 | $362.29 | $84.40 | $39.82 |
| # AnalystsCovering analysts | 20 | 33 | 18 | 32 | 29 |
| Dividend YieldAnnual dividend ÷ price | — | — | — | — | — |
| Dividend StreakConsecutive years of raises | — | — | — | — | — |
| Dividend / ShareAnnual DPS | — | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +7.5% | 0.0% | +5.6% | +1.6% | +0.7% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Oct 21 | Feb 26 | Change |
|---|---|---|---|
| StoneCo Ltd. (STNE) | 100 | 47.84 | -52.2% |
| 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) | 85.67 | 50.42 | -41.1% |
Corpay, Inc. (CPAY) returned +15% over 5 years vs StoneCo Ltd. (STNE)'s -81%. 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 |
|---|---|---|---|
| StoneCo Ltd. (STNE) | $165M | $5.8B | +3429.3% |
| 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% |
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 |
|---|---|---|---|
| StoneCo Ltd. (STNE) | -66.5% | -29.9% | +55.0% |
| 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% |
Block, Inc.'s net margin went from -10% (2016) to 5% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| StoneCo Ltd. (STNE) | 16.8 | 3.6 | -78.6% |
| Block, Inc. (XYZ) | 77.2 | 31 | -59.8% |
| Corpay, Inc. (CPAY) | 24.3 | 24.2 | -0.4% |
StoneCo Ltd. has traded in a 4x–29x P/E range over 4 years; current trailing P/E is ~-17x. Block, Inc. has traded in a 19x–495x P/E range over 5 years; current trailing P/E is ~30x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| StoneCo Ltd. (STNE) | -0.58 | -5.02 | -765.5% |
| 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% |
Block, Inc.'s EPS grew from $-0.50 (2016) to $2.10 (2025).
Chart 6Free Cash Flow — 5 Years
StoneCo Ltd. generated $-5B FCF in 2024 (-312% vs 2021). Block, Inc. generated $2B FCF in 2025 (+346% vs 2021).
STNE vs XYZ vs CPAY vs AFRM vs TOST: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is STNE 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 StoneCo Ltd. (STNE) a "Buy" — based on 20 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 — STNE 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, StoneCo Ltd. is actually cheaper at 1.5x — notably different from the trailing picture, reflecting expected earnings growth. 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 — STNE 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 -81.3% for StoneCo Ltd. (STNE). 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 TOST's -56.3%. 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 — STNE or XYZ or CPAY or AFRM or TOST?
By beta (market sensitivity over 5 years), StoneCo Ltd. (STNE) is the lower-risk stock at 1.02β versus Affirm Holdings, Inc.'s 2.41β — meaning AFRM is approximately 137% more volatile than STNE 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 — STNE or XYZ or CPAY or AFRM or TOST?
Corpay, Inc. (CPAY) is the more profitable company, earning 25.3% net margin versus -29.9% for StoneCo Ltd. — 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 -30.9% for STNE. 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 STNE 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, StoneCo Ltd. (STNE) trades at 1.5x forward P/E versus 43.6x for Affirm Holdings, Inc. — 42.1x 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 — STNE 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 STNE or XYZ or CPAY or AFRM or TOST better for a retirement portfolio?
For long-horizon retirement investors, StoneCo Ltd. (STNE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.02)). 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 (STNE: -46.4%, 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 STNE 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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