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Side-by-side financial comparison of ARGENX SE (ARGX) and Toast, Inc. (TOST). Click either name above to swap in a different company.
ARGENX SE is the larger business by last-quarter revenue ($2.5B vs $1.6B, roughly 1.5× Toast, Inc.). ARGENX SE runs the higher net margin — 35.5% vs 6.2%, a 29.3% gap on every dollar of revenue. On growth, ARGENX SE posted the faster year-over-year revenue change (83.2% vs 22.0%). ARGENX SE produced more free cash flow last quarter ($322.4M vs $178.0M).
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues.
Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
ARGX vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $1.6B |
| Net Profit | $877.2M | $101.0M |
| Gross Margin | 89.5% | 25.9% |
| Operating Margin | 28.9% | 5.2% |
| Net Margin | 35.5% | 6.2% |
| Revenue YoY | 83.2% | 22.0% |
| Net Profit YoY | 1.3% | 215.6% |
| EPS (diluted) | $13.25 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.5B | $1.6B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | $1.8B | $1.6B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | $901.9M | $1.2B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $877.2M | $101.0M | ||
| Q3 25 | — | $105.0M | ||
| Q2 25 | $414.8M | $80.0M | ||
| Q1 25 | — | $56.0M | ||
| Q4 24 | $865.6M | $32.0M | ||
| Q3 24 | — | $56.0M | ||
| Q2 24 | $-32.5M | $14.0M | ||
| Q1 24 | — | $-83.0M |
| Q4 25 | 89.5% | 25.9% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | 89.2% | 25.3% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | 90.2% | 24.9% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | 89.4% | 23.0% | ||
| Q1 24 | — | 23.2% |
| Q4 25 | 28.9% | 5.2% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | 19.2% | 5.2% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | 8.7% | 2.5% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | -15.4% | 0.4% | ||
| Q1 24 | — | -5.2% |
| Q4 25 | 35.5% | 6.2% | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | 23.4% | 5.2% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 64.1% | 2.4% | ||
| Q3 24 | — | 4.3% | ||
| Q2 24 | -3.6% | 1.1% | ||
| Q1 24 | — | -7.7% |
| Q4 25 | $13.25 | $0.18 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | $6.32 | $0.13 | ||
| Q1 25 | — | $0.09 | ||
| Q4 24 | $13.33 | $0.09 | ||
| Q3 24 | — | $0.07 | ||
| Q2 24 | $-0.55 | $0.02 | ||
| Q1 24 | — | $-0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.5B | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.3B | $2.1B |
| Total Assets | $8.7B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.5B | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $1.5B | $903.0M | ||
| Q3 24 | — | $761.0M | ||
| Q2 24 | $1.4B | $691.0M | ||
| Q1 24 | — | $578.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $11.0M | — | ||
| Q1 24 | — | — |
| Q4 25 | $7.3B | $2.1B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | $6.1B | $1.8B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $5.5B | $1.5B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | $4.3B | $1.3B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $8.7B | $3.1B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | $7.2B | $2.8B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $6.2B | $2.4B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | $4.8B | $2.2B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $323.3M | $194.0M |
| Free Cash FlowOCF − Capex | $322.4M | $178.0M |
| FCF MarginFCF / Revenue | 13.0% | 10.9% |
| Capex IntensityCapex / Revenue | 0.0% | 1.0% |
| Cash ConversionOCF / Net Profit | 0.37× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $594.5M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $323.3M | $194.0M | ||
| Q3 25 | — | $165.0M | ||
| Q2 25 | $361.8M | $223.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | $41.9M | $147.0M | ||
| Q3 24 | — | $109.0M | ||
| Q2 24 | $-124.7M | $124.0M | ||
| Q1 24 | — | $-20.0M |
| Q4 25 | $322.4M | $178.0M | ||
| Q3 25 | — | $153.0M | ||
| Q2 25 | $356.6M | $208.0M | ||
| Q1 25 | — | $69.0M | ||
| Q4 24 | $40.9M | $134.0M | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | $-125.5M | $108.0M | ||
| Q1 24 | — | $-33.0M |
| Q4 25 | 13.0% | 10.9% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | 20.1% | 13.4% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | 3.0% | 10.0% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | -13.9% | 8.7% | ||
| Q1 24 | — | -3.1% |
| Q4 25 | 0.0% | 1.0% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | 0.3% | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | 0.1% | 1.0% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | 0.1% | 1.3% | ||
| Q1 24 | — | 1.2% |
| Q4 25 | 0.37× | 1.92× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | 0.87× | 2.79× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | 0.05× | 4.59× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | — | 8.86× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARGX
Segment breakdown not available.
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
