Toast TOST
- Market cap
- $18.9B
- PE
- 41.4×
- 1y median 72.3×
- Forward PE
- 21.3×
- 5y median 38.8×
- Price to sales
- 2.8×
- EV/EBIT
- 39.3×
- Revenue, 12 months
- $6.8B
- +23% on a year ago
- Net margin
- 7.1%
- Free cash flow yield
- 3.0%
Toast trades at 41.4× trailing earnings, cheaper than 82% of the last ten years. Revenue was $6.8B over the last twelve months, up 23% on a year earlier with a 7% net margin.
Charts
Financials
| Income statement | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $1B+37% | $1B+35% | $1.1B+31% | $1.2B+27% | $1.3B+27% | $1.3B+29% | $1.3B+24% | $1.6B+25% | $1.6B+25% | $1.6B+22% | $1.6B+22% | $1.9B+23% | |
| Cost of revenue | $806M+34% | $810M+33% | $826M+28% | $956M+24% | $983M+22% | $1B+24% | $991M+20% | $1.2B+21% | $1.2B+22% | $1.2B+20% | $1.2B+19% | $1.4B+20% |
| Gross profit | $226M+50% | $226M+43% | $249M+43% | $286M+38% | $322M+43% | $333M+47% | $346M+39% | $392M+37% | $432M+34% | $423M+27% | $447M+29% | $516M+32% |
| R&D | $87M+18% | $94M+19% | $83M−2% | $87M−5% | $89M+2% | $93M−1% | $84M+1% | $91M+5% | $102M+15% | $97M+4% | $97M+16% | $109M+20% |
| SG&A | $198M+22% | $188M+6% | $181M+0% | $190M−3% | $199M+1% | $208M+11% | $212M+17% | $220M+16% | $246M+24% | $237M+14% | $240M+13% | $255M+16% |
| −$59M−31% | −$56M−43% | −$56M−39% | $5M | $34M | $32M | $43M | $80M+1500% | $84M+147% | $85M+166% | $110M+156% | $152M+90% | |
| Interest expense | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Pre-tax income | −$31M−70% | −$35M−64% | −$82M+1% | $14M | $57M | $32M | $58M | $83M+493% | $104M+83% | $101M+216% | $131M+126% | $162M+95% |
| $0 | $1M−50% | $1M | $0 | $1M | $0 | $2M+100% | $3M | −$1M | $0 | $5M+150% | $8M+167% | |
| Net income | −$31M−68% | −$36M−64% | −$83M+3% | $14M | $56M | $32M | $56M | $80M+471% | $105M+88% | $101M+216% | $126M+125% | $154M+93% |
| −$0.09−53% | −$0.07−63% | −$0.15−6% | $0.02 | $0.07 | $0.05 | $0.09 | $0.13+550% | $0.16+129% | $0.17+240% | $0.20+122% | $0.26+100% | |
| 536M+4% | 539M+4% | 547M+4% | 587M+11% | 590M+10% | 600M+11% | 603M+10% | 605M+3% | 609M+3% | 610M+2% | 602M−0% | 590M−3% |
EPS, diluted: 6 periods, Q4 FY20 to Q4 FY25: quarter's net income to common over its shares, to the cent.
Diluted shares: 3 periods, Q4 FY20 to Q4 FY23: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days. Q4 FY21 and Q4 FY25: share-days: the 12-month average less the 9-month, weighted by days. Q4 FY24: the earlier year to date counted no dilution: the quarter's basic count plus the later year to date's dilution.
From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.
Estimates
Next earnings report: .
| Quarter | Revenue | Range | EPS | Range | Analysts |
|---|---|---|---|---|---|
| Q3 FY26 | $2B | $2B to $2B | $0.36 | $0.27 to $0.40 | 9 |
| Q4 FY26 | $2B | $1.9B to $2B | $0.33 | $0.32 to $0.34 | 9 |
| Q1 FY27 | $2B | $1.9B to $2B | $0.38 | $0.36 to $0.38 | 6 |
| Q2 FY27 | $2.3B | $2.2B to $2.3B | $0.43 | $0.41 to $0.44 | 3 |
| Q3 FY27 | $2.3B | $2.2B to $2.4B | $0.48 | $0.45 to $0.49 | 3 |
| Q4 FY27 | $2.3B | $2.2B to $2.3B | $0.46 | $0.44 to $0.47 | 6 |
| Q1 FY28 | $2.3B | $2.2B to $2.3B | $0.48 | $0.46 to $0.49 | 8 |
| Q2 FY28 | $2.7B | $2.6B to $2.7B | $0.56 | $0.54 to $0.57 | 4 |
Peers
Companies in Software - Infrastructure nearest Toast's size, closest first.
| Company | Market cap | PE | Its 10y median PE | Fwd PE | P/S | Revenue growth | Net margin |
|---|---|---|---|---|---|---|---|
| TOSTToast | $18.9B | 41.4× | 72.3× | 21.3× | 2.8× | +23% | 7.1% |
| NTNXNutanix | $19.1B | 13.7× | 56.6× | n/m | 6.7× | +12% | 52.8% |
| DTDynatrace | $18.5B | 128× | 104× | n/m | 8.8× | +18% | 7.2% |
| LDOSLeidos | $17.1B | 12.7× | 20.0× | n/m | 1.0× | +3% | 7.8% |
| PTCPTC | $21B | 18.9× | 60.4× | n/m | 7.1× | +19% | 41.4% |
| TYLTyler Technologies | $16B | 51.7× | 84.4× | n/m | 6.6× | +8% | 13.4% |
| DOCUDocusign | $15.9B | 52.0× | 34.1× | n/m | 4.7× | +9% | 9.8% |
| GWREGuidewire Software | $15.5B | 117× | 281× | n/m | 10.5× | +23% | 9.4% |
| GENGen Digital | $14.9B | 14.5× | 18.5× | n/m | 2.9× | +20% | 20.7% |
| GDDYGoDaddy | $14.3B | 16.7× | 40.8× | 13.6× | 2.8× | +7% | 17.8% |
| CACICaci International | $14B | 26.3× | 19.5× | n/m | 1.5× | +11% | 5.6% |
| Peer median | $16B | 22.6× | 48.7× | 13.6× | 5.7× | +12% | 11.6% |
Investors who own it
Investors we follow who held Toast at the end of Jun 30, 2026, from their 13F filings.
- ValueAct CapitalValueAct Capital7.0% of portfolioadded
- Cathie WoodARK Investment Management0.3% of portfolioadded
More on Toast
Each number over time
- PE ratio
- Forward PE
- Price to sales ratio
- EV/EBIT
- Price to free cash flow
- Price to book ratio
- Market cap
- Revenue
- EPS
- Free cash flow
- Profit margin
- Shares outstanding
Where it ranks
- #6of 57Infrastructure software stocks with the fastest earnings growth
- #3of 17Infrastructure software stocks with the lowest PEG ratio
- #6of 21Infrastructure software stocks with the lowest forward PE
- #9of 22Infrastructure software stocks with the fastest expected revenue growth
Its groups
About
- Industry
- Software - Infrastructure
- Sector
- Technology
Valuation data, not investment advice. Prices as of .