TOST vs PAX

For growth investors, Toast, Inc.

(TOST) is the stronger pick with 24. 1% revenue growth year-over-year, versus 2. 6% for Patria Investments Limited (PAX). Patria Investments Limited (PAX) offers the better valuation at 23. 9x trailing P/E (9. 0x forward), making it the more compelling value choice. Analysts rate Toast, Inc. (TOST) a "Buy" — based on 29 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.

On trailing P/E, Patria Investments Limited (PAX) is the cheapest at 23.

9x versus Toast, Inc. at 50. 6x. On forward P/E, Patria Investments Limited is actually cheaper at 9. 0x.

Over the past 5 years, Patria Investments Limited (PAX) delivered a total return of +14.

0%, compared to -54. 7% for Toast, Inc. (TOST). Over 10 years, the gap is even starker: PAX returned -14. 9% versus TOST's -54. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Patria Investments Limited (PAX) is the lower-risk stock at 1.

09β versus Toast, Inc. 's 1. 44β — meaning TOST is approximately 32% more volatile than PAX relative to the S&P 500. On balance sheet safety, Toast, Inc. (TOST) carries a lower debt/equity ratio of 2% versus 27% for Patria Investments Limited — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Toast, Inc.

(TOST) is pulling ahead at 24. 1% versus 2. 6% for Patria Investments Limited (PAX). On earnings-per-share growth, the picture is similar: Toast, Inc. grew EPS 1639% year-over-year, compared to 14. 9% for Patria Investments Limited. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Patria Investments Limited (PAX) is the more profitable company, earning 22.

3% net margin versus 5. 6% for Toast, Inc. — meaning it keeps 22. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PAX leads at 34. 2% versus 5. 0% for TOST. At the gross margin level — before operating expenses — PAX leads at 96. 2%, 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.

On forward earnings alone, Patria Investments Limited (PAX) trades at 9.

0x forward P/E versus 22. 8x for Toast, Inc. — 13. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TOST: 40. 4% to $39. 76.

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.

For long-horizon retirement investors, Patria Investments Limited (PAX) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.

09)). Both have compounded well over 10 years (PAX: -14. 9%, TOST: -54. 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.

These companies operate in different sectors (TOST (Technology) and PAX (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: TOST is a mid-cap high-growth stock; PAX is a small-cap quality compounder stock. 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.