8-K Announcements
6Material company update
Feb 12, 2026·SEC
Material company update
Jan 15, 2026·SEC
Material company update
Nov 4, 2025·SEC
Toast, Inc.(TOST)Earnings, Financials & Key Ratios
TOST•NYSE
$28.31
$14.81B mkt cap·50.6× P/E·Price updated May 6, 2026
AboutToast, Inc. operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader. It also provides kitchen display system software that connects the front of the house with the kitchen staff; multi-location management software, which allows customers to manage and standardize their operations and configure menus; xtraCHEF that provides back-office tools; and Toast Flex for Kitchen, a larger format mountable piece of hardware that can be used as a kitchen screen. In addition, the company offers Toast Online Ordering & Toast TakeOut app, a software-based platform that provides restaurants to take off-premises orders directly through their branded website; First-Party Delivery services for restaurants to manage a fleet of drivers, and customize delivery hours, zones, fees, and minimum ticket sizes; Toast Delivery Services, which enables restaurants to utilize a partner network of delivery drivers; and Toast Delivery Partners services. Further, it provides loyalty programs and gift cards; payroll and team management products; business owner policy insurance and restaurant-specific add-ons; payment processing solutions; loans advanced to restaurants; purchase financing; reporting and analytics solutions; Toast Partner Connect that allows customers to discover, select, and connect their restaurant to its partners; and bi-directional APIs. The company was incorporated in 2011 and is headquartered in Boston, Massachusetts.Show more
- Revenue$6.15B+24.1%
- EBITDA$372M+500.0%
- Net Income$342M+1700.0%
- EPS (Diluted)0.56+1639.1%
- Gross Margin25.76%+7.4%
- EBITDA Margin6.05%+383.7%
- Operating Margin4.96%+1436.5%
- Net Margin5.56%+1350.9%
- ROE18.64%+1243.7%
- ROIC30.77%+1578.0%
- Debt/Equity0.02-14.4%
TOST Key Insights
Toast, Inc. (TOST) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Strong Piotroski F-Score: 7/9
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 49.5%
- ✓Efficient asset utilization: 2.0x turnover
✗Weaknesses
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
TOST Price & Volume
Toast, Inc. (TOST) stock price & volume — 10-year historical chart
Loading chart...
TOST Growth Metrics
Toast, Inc. (TOST) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years49.53%
3 Years31.1%
TTM24.05%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM1700%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM15920.59%
Return on Capital
10 Years-34.26%
5 Years-11.39%
3 Years-1.8%
Last Year15.94%
TOST Recent Earnings
Toast, Inc. (TOST) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 10/12 qtrs (83%)
Q1 2026Latest
Feb 12, 2026EPS
$0.23
Est $0.24
-3.8%
Revenue
$1.6B
Est $1.6B
+0.9%
Q4 2025
Nov 4, 2025EPS
$0.25
Est $0.24
+4.4%
Revenue
$1.6B
Est $1.6B
+2.9%
Q3 2025
Aug 5, 2025EPS
$0.24
Est $0.23
+6.6%
Revenue
$1.6B
Est $1.5B
+1.6%
Q2 2025
May 8, 2025EPS
$0.20
Est $0.18
+11.3%
Revenue
$1.3B
Est $1.3B
-0.5%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 12, 2026 | $0.23vs $0.24-3.8% | $1.6Bvs $1.6B+0.9% |
| Q4 2025 | Nov 4, 2025 | $0.25vs $0.24+4.4% | $1.6Bvs $1.6B+2.9% |
| Q3 2025 | Aug 5, 2025 | $0.24vs $0.23+6.6% | $1.6Bvs $1.5B+1.6% |
| Q2 2025 | May 8, 2025 | $0.20vs $0.18+11.3% | $1.3Bvs $1.3B-0.5% |
Based on last 12 quarters of dataView full earnings history →
TOST Peer Comparison
Toast, Inc. (TOST) competitors in Payments and fintech infrastructure — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 PAX | 2.06B | 12.92 | 23.93 | 2.56% | 14.33% | 0.27 | ||
 PAR | 583.97M | 13.85 | -6.63 | 30.16% | -19.21% | -10.1% | 0.49 | |
 RSKD | 811.81M | 4.75 | -26.39 | 5.23% | -8% | -8.42% | 0.08 | |
 LSPD | 1.29B | 9.42 | -2.17 | 18.43% | -57.97% | -46.1% | 0.01 | |
 FOUR | 3.93B | 42.90 | 14.16 | 29.86% | 5.02% | 8.73% | 2.83 | |
 SMRT | 228.79M | 1.19 | -3.72 | -12.9% | -16.59% | -10.61% | 0.03 | |
 UBER | 162.94B | 79.17 | 16.74 | 18.28% | 15.91% | 32.07% | 0.48 | |
 DASH | 73.19B | 167.97 | 78.86 | 27.93% | 6.29% | 9.57% | 0.37 |
Compare TOST vs Peers
Toast, Inc. (TOST) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TOST Income Statement
Toast, Inc. (TOST) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 665M | 823M | 1.71B | 2.73B | 3.87B | 4.96B | 6.15B |
| Revenue Growth % | - | 23.76% | 107.17% | 60.18% | 41.52% | 28.33% | 24.05% |
| Cost of Goods Sold | 603M | 683M | 1.39B | 2.22B | 3.03B | 3.77B | 4.56B |
| COGS % of Revenue | 90.68% | 82.99% | 81.58% | 81.29% | 78.42% | 76.01% | 74.11% |
| Gross Profit | 62M▲ 0% | 140M▲ 125.8% | 314M▲ 124.3% | 511M▲ 62.7% | 834M▲ 63.2% | 1.19B▲ 42.7% | 1.58B▲ 33.2% |
| Gross Margin % | 9.32% | 17.01% | 18.42% | 18.71% | 21.58% | 23.99% | 25.76% |
| Gross Profit Growth % | - | 125.81% | 124.29% | 62.74% | 63.21% | 42.69% | 33.19% |
| Operating Expenses | 275M | 360M | 542M | 895M | 1.12B | 1.17B | 1.28B |
| OpEx % of Revenue | 41.35% | 43.74% | 31.79% | 32.77% | 29% | 23.67% | 20.8% |
| Selling, General & Admin | 211M | 251M | 379M | 613M | 763M | 777M | 915M |
| SG&A % of Revenue | 31.73% | 30.5% | 22.23% | 22.45% | 19.74% | 15.67% | 14.87% |
| Research & Development | 64M | 109M | 163M | 282M | 358M | 351M | 371M |
| R&D % of Revenue | 9.62% | 13.24% | 9.56% | 10.33% | 9.26% | 7.08% | 6.03% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 46M | -6M |
| Operating Income | -213M▲ 0% | -220M▼ 3.3% | -228M▼ 3.6% | -384M▼ 68.4% | -287M▲ 25.3% | 16M▲ 105.6% | 305M▲ 1806.3% |
| Operating Margin % | -32.03% | -26.73% | -13.37% | -14.06% | -7.43% | 0.32% | 4.96% |
| Operating Income Growth % | - | -3.29% | -3.64% | -68.42% | 25.26% | 105.57% | 1806.25% |
| EBITDA | -206M | -193M | -207M | -360M | -255M | 62M | 372M |
| EBITDA Margin % | -30.98% | -23.45% | -12.14% | -13.18% | -6.6% | 1.25% | 6.05% |
| EBITDA Growth % | - | 6.31% | -7.25% | -73.91% | 29.17% | 124.31% | 500% |
| D&A (Non-Cash Add-back) | 7M | 27M | 21M | 24M | 32M | 46M | 67M |
| EBIT | -212M | -236M | -228M | -384M | -287M | 62M | 305M |
| Net Interest Income | 2M | -11.81M | -12M | 11M | 37M | 42M | 51M |
| Interest Income | 2M | 842K | 0 | 11M | 37M | 42M | 51M |
| Interest Expense | 0 | 12.65M | 12M | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1M | -28M | -262M | 107M | 43M | 6M | 41M |
| Pretax Income | -212M▲ 0% | -248M▼ 17.0% | -490M▼ 97.6% | -277M▲ 43.5% | -244M▲ 11.9% | 22M▲ 109.0% | 346M▲ 1472.7% |
| Pretax Margin % | -31.88% | -30.13% | -28.74% | -10.14% | -6.31% | 0.44% | 5.62% |
| Income Tax | -3M | 0 | -3M | -2M | 2M | 3M | 4M |
| Effective Tax Rate % | 1.42% | 0% | 0.61% | 0.72% | -0.82% | 13.64% | 1.16% |
| Net Income | -209M▲ 0% | -248M▼ 18.7% | -487M▼ 96.4% | -275M▲ 43.5% | -246M▲ 10.5% | 19M▲ 107.7% | 342M▲ 1700.0% |
| Net Margin % | -31.43% | -30.13% | -28.56% | -10.07% | -6.36% | 0.38% | 5.56% |
| Net Income Growth % | - | -18.66% | -96.37% | 43.53% | 10.55% | 107.72% | 1700% |
| Net Income (Continuing) | -209M | -248M | -487M | -275M | -246M | 19M | 342M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.45▲ 0% | -0.54▼ 20.0% | -0.97▼ 79.6% | -0.72▲ 25.8% | -0.47▲ 34.7% | 0.03▲ 106.9% | 0.56▲ 1639.1% |
| EPS Growth % | - | -20% | -79.63% | 25.77% | 34.72% | 106.85% | 1639.13% |
| EPS (Basic) | -0.45 | -0.54 | -0.97 | -0.72 | -0.47 | 0.03 | 0.59 |
| Diluted Shares Outstanding | 461.18M | 461.18M | 502.61M | 512.24M | 533M | 591M | 607M |
| Basic Shares Outstanding | 461.18M | 461.18M | 500.05M | 511.75M | 532M | 559M | 582M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
TOST Balance Sheet
Toast, Inc. (TOST) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 228.47M | 656.27M | 1.46B | 1.36B | 1.51B | 1.9B | 2.67B |
| Cash & Short-Term Investments | 150.37M | 581.82M | 1.27B | 1.02B | 1.12B | 1.42B | 1.99B |
| Cash Only | 150.37M | 581.82M | 809M | 547M | 605M | 903M | 1.35B |
| Short-Term Investments | 0 | 0 | 457M | 474M | 519M | 514M | 638M |
| Accounts Receivable | 44.63M | 33.8M | 55M | 77M | 127M | 115M | 127M |
| Days Sales Outstanding | 24.49 | 14.99 | 11.77 | 10.29 | 11.99 | 8.46 | 7.53 |
| Inventory | 15.39M | 19.33M | 63M | 130M | 124M | 118M | 114M |
| Days Inventory Outstanding | 9.31 | 10.33 | 16.53 | 21.37 | 14.93 | 11.42 | 9.13 |
| Other Current Assets | 6.71M | 10.64M | 41M | 108M | 111M | 251M | 437M |
| Total Non-Current Assets | 77.28M | 119.69M | 280M | 398M | 448M | 562M | 476M |
| Property, Plant & Equipment | 19.96M | 34.06M | 120M | 138M | 111M | 123M | 132M |
| Fixed Asset Turnover | 33.32x | 24.17x | 14.21x | 19.79x | 34.82x | 40.33x | 46.61x |
| Goodwill | 35.89M | 35.89M | 74M | 0 | 113M | 113M | 113M |
| Intangible Assets | 16.66M | 16.89M | 16M | 136M | 26M | 20M | 14M |
| Long-Term Investments | 2.31M | 1.21M | 8M | 28M | 55M | 59M | 71M |
| Other Non-Current Assets | 2.46M | 31.64M | 62M | 96M | 143M | 192M | 146M |
| Total Assets | 305.74M▲ 0% | 775.96M▲ 153.8% | 1.74B▲ 123.6% | 1.76B▲ 1.5% | 1.96B▲ 11.2% | 2.46B▲ 25.8% | 3.15B▲ 27.7% |
| Asset Turnover | 2.18x | 1.06x | 0.98x | 1.55x | 1.97x | 2.01x | 1.96x |
| Asset Growth % | - | 153.79% | 123.6% | 1.5% | 11.19% | 25.79% | 27.69% |
| Total Current Liabilities | 139.7M | 136.41M | 352M | 496M | 663M | 811M | 969M |
| Accounts Payable | 31.52M | 30.55M | 40M | 30M | 32M | 37M | 47M |
| Days Payables Outstanding | 19.08 | 16.33 | 10.5 | 4.93 | 3.85 | 3.58 | 3.76 |
| Short-Term Debt | 9.22M | 0 | 22M | 14M | 11M | 10M | 0 |
| Deferred Revenue (Current) | 39.51M | 43.97M | 44M | 39M | 39M | 59M | 68M |
| Other Current Liabilities | 42.62M | 42.2M | 203M | 339M | 478M | 579M | 854M |
| Current Ratio | 1.64x | 4.81x | 4.13x | 2.75x | 2.28x | 2.34x | 2.75x |
| Quick Ratio | 1.53x | 4.67x | 3.95x | 2.49x | 2.09x | 2.20x | 2.64x |
| Cash Conversion Cycle | 14.73 | 8.99 | 17.81 | 26.73 | 23.07 | 16.3 | 12.9 |
| Total Non-Current Liabilities | 496.47M | 1.11B | 292M | 167M | 101M | 107M | 52M |
| Long-Term Debt | 446.56M | 1.02B | 0 | 0 | 0 | 0 | 20M |
| Capital Lease Obligations | 0 | 0 | 77M | 80M | 33M | 24M | 20M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 55M | 0 |
| Other Non-Current Liabilities | 4.02M | 55.85M | 203M | 80M | 68M | 28M | 12M |
| Total Liabilities | 636.17M | 1.25B | 644M | 663M | 764M | 918M | 1.02B |
| Total Debt | 455.78M | 1.02B | 99M | 94M | 44M | 34M | 40M |
| Net Debt | 305.41M | 438.78M | -710M | -453M | -561M | -869M | -1.31B |
| Debt / Equity | - | - | 0.09x | 0.09x | 0.04x | 0.02x | 0.02x |
| Debt / EBITDA | - | - | - | - | - | 0.55x | 0.11x |
| Net Debt / EBITDA | - | - | - | - | - | -14.02x | -3.53x |
| Interest Coverage | - | -17.39x | -19.00x | - | - | - | - |
| Total Equity | -330.43M▲ 0% | -470.98M▼ 42.5% | 1.09B▲ 331.6% | 1.1B▲ 0.6% | 1.19B▲ 8.7% | 1.54B▲ 29.4% | 2.12B▲ 37.5% |
| Equity Growth % | - | -42.54% | 331.65% | 0.64% | 8.74% | 29.4% | 37.48% |
| Book Value per Share | -0.72 | -1.02 | 2.17 | 2.14 | 2.24 | 2.61 | 3.50 |
| Total Shareholders' Equity | -330.43M | -470.98M | 1.09B | 1.1B | 1.19B | 1.54B | 2.12B |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -385.92M | -615.87M | -1.1B | -1.38B | -1.62B | -1.6B | -1.26B |
| Treasury Stock | -460K | -665K | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -55K | 228K | -1M | -2M | 0 | -1M | 2M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
TOST Cash Flow Statement
Toast, Inc. (TOST) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -126M | -125M | 2M | -156M | 135M | 360M | 661M |
| Operating CF Margin % | -18.95% | -15.19% | 0.12% | -5.71% | 3.49% | 7.26% | 10.74% |
| Operating CF Growth % | - | 0.79% | 101.6% | -7900% | 186.54% | 166.67% | 83.61% |
| Net Income | -209M | -248M | -487M | -275M | -246M | 19M | 342M |
| Depreciation & Amortization | 7M | 27M | 21M | 24M | 32M | 46M | 67M |
| Stock-Based Compensation | 34M | 86M | 159M | 238M | 287M | 258M | 242M |
| Deferred Taxes | -3M | 0 | -3M | -5M | 0 | 0 | 0 |
| Other Non-Cash Items | 1M | 38M | 301M | -9M | 121M | 185M | 201M |
| Working Capital Changes | 44M | -28M | 11M | -129M | -59M | -148M | -191M |
| Change in Receivables | -26M | -13M | -23M | -35M | -3M | -72M | -33M |
| Change in Inventory | -7M | -4M | -23M | -68M | -7M | 0 | 4M |
| Change in Payables | 15M | -6M | 15M | -11M | 1M | 5M | 11M |
| Cash from Investing | -47M | -36M | -503M | -98M | -86M | -39M | -172M |
| Capital Expenditures | -9M | -28M | -12M | -16M | -42M | -54M | -53M |
| CapEx % of Revenue | 1.35% | 3.4% | 0.7% | 0.59% | 1.09% | 1.09% | 0.86% |
| Acquisitions | -33M | 0 | -26M | -46M | -9M | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -5M | -8M | -6M | -17M | -3M | 0 | 0 |
| Cash from Financing | 256M | 594M | 759M | 38M | 63M | 18M | 7M |
| Debt Issued (Net) | 7M | 186M | -245M | 0 | 0 | 36M | 33M |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -56M | -107M |
| Other Financing | -2M | 7M | 20M | 23M | 27M | -61M | 0 |
| Net Change in Cash | 83M▲ 0% | 435M▲ 424.1% | 257M▼ 40.9% | -216M▼ 184.0% | 112M▲ 151.9% | 338M▲ 201.8% | 450M▲ 33.1% |
| Free Cash Flow | -141M▲ 0% | -161M▼ 14.2% | -17M▲ 89.4% | -189M▼ 1011.8% | 93M▲ 149.2% | 306M▲ 229.0% | 608M▲ 98.7% |
| FCF Margin % | -21.2% | -19.56% | -1% | -6.92% | 2.41% | 6.17% | 9.88% |
| FCF Growth % | - | -14.18% | 89.44% | -1011.76% | 149.21% | 229.03% | 98.69% |
| FCF per Share | -0.31 | -0.35 | -0.03 | -0.37 | 0.17 | 0.52 | 1.00 |
| FCF Conversion (FCF/Net Income) | 0.60x | 0.50x | -0.00x | 0.57x | -0.55x | 18.95x | 1.93x |
| Interest Paid | 0 | 5M | 13M | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 1M | 2M | 3M | 0 |
TOST Key Ratios
Toast, Inc. (TOST) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | -157.09% | -25.13% | -21.47% | 1.39% | 18.64% |
| Return on Invested Capital (ROIC) | - | - | -98.05% | -56.14% | -33.69% | 1.83% | 30.77% |
| Gross Margin | 9.32% | 17.01% | 18.42% | 18.71% | 21.58% | 23.99% | 25.76% |
| Net Margin | -31.43% | -30.13% | -28.56% | -10.07% | -6.36% | 0.38% | 5.56% |
| Debt / Equity | - | - | 0.09x | 0.09x | 0.04x | 0.02x | 0.02x |
| Interest Coverage | - | -17.39x | -19.00x | - | - | - | - |
| FCF Conversion | 0.60x | 0.50x | -0.00x | 0.57x | -0.55x | 18.95x | 1.93x |
| Revenue Growth | - | 23.76% | 107.17% | 60.18% | 41.52% | 28.33% | 24.05% |
TOST SEC Filings & Documents
Toast, Inc. (TOST) SEC filings — annual & quarterly reports (10-K, 10-Q)
TOST Frequently Asked Questions
Toast, Inc. (TOST) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Toast, Inc. (TOST) reported $6.15B in revenue for fiscal year 2025. This represents a 825% increase from $665.0M in 2019.
Toast, Inc. (TOST) grew revenue by 24.1% over the past year. This is strong growth.
Yes, Toast, Inc. (TOST) is profitable, generating $342.0M in net income for fiscal year 2025 (5.6% net margin).
Dividend & Returns
Toast, Inc. (TOST) has a return on equity (ROE) of 18.6%. This is reasonable for most industries.
Toast, Inc. (TOST) generated $608.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Explore More TOST
Toast, Inc. (TOST) financial analysis — history, returns, DCA and operating performance tools
Full TOST Stock Analysis
Analyst verdict, bull/bear case, risk factors and peer comparison
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates