Last 21 quarters of trend data · Technology · Software - Infrastructure
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Toast, Inc.'s quarterly P/E stands at 33.1x, down 64.9% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 55.9% YoY to 33.8x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 52.43 | 33.14 | 55.48 | 57.05 | 85.17 | 94.34 | 165.68 | 104.39 | 270.69 | — | — | — | — |
| — | -64.9% | -66.5% | -45.4% | -68.5% | — | — | — | — | — | — | — | — | |
| P/S Ratio | 2.77 | 2.45 | 3.30 | 3.40 | 4.32 | 3.74 | 4.09 | 3.20 | 3.04 | 3.17 | 2.38 | 2.43 | 3.05 |
| — | -34.6% | -19.2% | +6.4% | +41.9% | +18.0% | +71.4% | +31.6% | -0.2% | +11.4% | -21.7% | -14.8% | +25.0% | |
| P/B Ratio | 8.39 | 8.02 | 10.15 | 11.04 | 14.74 | 11.96 | 14.16 | 11.76 | 11.79 | 11.33 | 8.27 | 8.74 | 11.07 |
| — | -32.9% | -28.3% | -6.1% | +25.0% | +5.5% | +71.1% | +34.6% | +6.6% | +33.5% | -2.8% | +13.8% | +93.0% | |
| P/FCF | 27.99 | 34.69 | 30.27 | 36.33 | 32.21 | 72.47 | 40.80 | 43.05 | 35.02 | — | 30.49 | 66.05 | 76.54 |
| — | -52.1% | -25.8% | -15.6% | -8.0% | — | +33.8% | -34.8% | -54.2% | — | — | — | — | |
| EV / EBITDA | 42.22 | 33.81 | 47.74 | 53.85 | 66.72 | 76.69 | 122.10 | 86.85 | 212.88 | — | — | — | — |
| — | -55.9% | -60.9% | -38.0% | -68.7% | — | — | — | — | — | — | — | — | |
| EV / EBIT | 51.50 | — | 56.86 | 50.23 | 79.08 | 95.09 | 164.07 | 117.50 | 402.11 | — | — | — | — |
| — | — | -65.3% | -57.3% | -80.3% | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Toast, Inc.'s operating margin was 6.7% in Q1 2026, up 1.3 pp QoQ and up 3.5 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 5.6% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 6.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.8% | 27.4% | 25.7% | 26.5% | 25.3% | 25.9% | 24.9% | 24.7% | 23.0% | 23.2% | 21.8% | 21.9% | 21.3% |
| — | +6.0% | +3.3% | +7.2% | +9.8% | +11.7% | +14.1% | +12.7% | +8.3% | +9.0% | +6.0% | +9.1% | +27.0% | |
| Operating Margin | 5.0% | 6.7% | 5.5% | 5.1% | 5.2% | 3.2% | 2.4% | 2.6% | 0.4% | -5.2% | -5.4% | -5.7% | -8.2% |
| — | +109.8% | +127.9% | +97.4% | +1182.0% | +161.7% | +144.2% | +145.6% | +104.9% | +53.6% | +58.1% | +49.4% | +44.2% | |
| Net Margin | 5.6% | 7.7% | 6.2% | 6.4% | 5.2% | 4.2% | 2.4% | 4.3% | 1.1% | -7.7% | -3.5% | -3.0% | -10.0% |
| — | +84.6% | +158.6% | +49.8% | +357.9% | +154.2% | +168.8% | +242.9% | +111.2% | +21.9% | +73.3% | +76.9% | -25.3% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.6% | 6.1% | 4.9% | 5.5% | 4.6% | 3.5% | 2.2% | 4.1% | 1.1% | -6.9% | -3.1% | -2.8% | -9.0% |
| — | +76.0% | +126.2% | +32.3% | +306.9% | +150.3% | +170.2% | +248.9% | +112.5% | +6.1% | +65.9% | +67.8% | -91.2% | |
| ROA | 12.2% | 4.0% | 3.3% | 3.7% | 3.0% | 2.2% | 1.4% | 2.6% | 0.7% | -4.1% | -1.9% | -1.7% | -5.5% |
| — | +81.3% | +142.0% | +43.2% | +350.9% | +153.8% | +171.9% | +249.6% | +112.2% | +9.1% | +66.8% | +69.6% | -76.1% | |
| ROIC | 30.8% | 9.6% | 9.0% | 9.6% | 9.0% | 4.7% | 3.5% | 3.8% | 0.6% | -6.5% | -6.5% | -6.9% | -8.8% |
| — | +103.2% | +157.0% | +149.1% | +1458.0% | +173.0% | +154.1% | +156.0% | +106.6% | +35.1% | +47.2% | +40.1% | +39.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Toast, Inc.'s Debt/EBITDA ratio is 0.2x, down from 0.4x last quarter — comfortably within a safe range.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 | 0.03 | 0.04 | 0.03 | 0.03 |
| — | -35.0% | -14.4% | -66.6% | -66.5% | -61.4% | -40.3% | -3.9% | +1.9% | -59.3% | -57.0% | -66.8% | -61.8% | |
| Debt / EBITDA | 0.11 | 0.15 | 0.38 | 0.19 | 0.20 | 0.35 | 0.79 | 0.83 | 2.35 | — | — | — | — |
| — | -56.4% | -52.3% | -77.5% | -91.6% | — | — | — | — | — | — | — | — | |
| Current Ratio | 2.75 | 2.44 | 2.75 | 2.64 | 2.50 | 2.42 | 2.34 | 2.32 | 2.27 | 2.23 | 2.28 | 2.48 | 2.40 |
| — | +0.5% | +17.5% | +14.1% | +10.0% | +8.9% | +2.9% | -6.7% | -5.4% | -12.0% | -17.1% | -16.8% | -24.3% | |
| Quick Ratio | 2.64 | 2.31 | 2.64 | 2.53 | 2.38 | 2.29 | 2.20 | 2.17 | 2.12 | 2.06 | 2.09 | 2.29 | 2.20 |
| — | +0.7% | +19.9% | +16.2% | +12.3% | +11.4% | +5.2% | -5.2% | -3.4% | -10.2% | -15.9% | -15.7% | -26.3% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 21 years · Updated daily
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Toast, Inc.'s current P/E is 52.4x. The average P/E over the last 4 quarters is 57.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Toast, Inc.'s current operating margin is 5.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Toast, Inc.'s business trajectory between earnings reports.