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Side-by-side financial comparison of Brookfield Asset Management Ltd. (BAM) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.1B, roughly 1.5× Brookfield Asset Management Ltd.). Brookfield Asset Management Ltd. runs the higher net margin — 56.7% vs 6.2%, a 50.5% gap on every dollar of revenue.
Brookfield Asset Management Ltd. is a Canadian-American alternative asset manager. The company was founded in December 2022 as a spin-off of the asset management operations of Brookfield Corporation, and manages investments across real estate, infrastructure, renewable energy, private equity, and credit markets globally.
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.
BAM vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.6B |
| Net Profit | $615.0M | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | 84.2% | 5.2% |
| Net Margin | 56.7% | 6.2% |
| Revenue YoY | — | 22.0% |
| Net Profit YoY | — | 215.6% |
| EPS (diluted) | — | $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 | $1.1B | $1.6B | ||
| Q3 25 | $974.0M | $1.6B | ||
| Q2 25 | $931.0M | $1.6B | ||
| Q1 25 | $954.0M | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $873.0M | $1.3B | ||
| Q2 24 | $821.0M | $1.2B | ||
| Q1 24 | $786.0M | $1.1B |
| Q4 25 | $615.0M | $101.0M | ||
| Q3 25 | $692.0M | $105.0M | ||
| Q2 25 | $584.0M | $80.0M | ||
| Q1 25 | $507.0M | $56.0M | ||
| Q4 24 | — | $32.0M | ||
| Q3 24 | $537.0M | $56.0M | ||
| Q2 24 | $124.0M | $14.0M | ||
| Q1 24 | $373.0M | $-83.0M |
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 25.3% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | — | 23.2% |
| Q4 25 | 84.2% | 5.2% | ||
| Q3 25 | 79.1% | 5.1% | ||
| Q2 25 | 70.8% | 5.2% | ||
| Q1 25 | 61.0% | 3.2% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | 72.5% | 2.6% | ||
| Q2 24 | 80.4% | 0.4% | ||
| Q1 24 | 56.5% | -5.2% |
| Q4 25 | 56.7% | 6.2% | ||
| Q3 25 | 71.0% | 6.4% | ||
| Q2 25 | 62.7% | 5.2% | ||
| Q1 25 | 53.1% | 4.2% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | 61.5% | 4.3% | ||
| Q2 24 | 15.1% | 1.1% | ||
| Q1 24 | 47.5% | -7.7% |
| Q4 25 | — | $0.18 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.13 | ||
| Q1 25 | — | $0.09 | ||
| Q4 24 | — | $0.09 | ||
| Q3 24 | — | $0.07 | ||
| Q2 24 | — | $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 | $1.6B | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.9B | $2.1B |
| Total Assets | $17.0B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $480.0M | $1.2B | ||
| Q1 25 | $332.0M | $1.0B | ||
| Q4 24 | — | $903.0M | ||
| Q3 24 | — | $761.0M | ||
| Q2 24 | $10.0M | $691.0M | ||
| Q1 24 | — | $578.0M |
| Q4 25 | $8.9B | $2.1B | ||
| Q3 25 | $8.5B | $2.0B | ||
| Q2 25 | $8.5B | $1.8B | ||
| Q1 25 | $8.5B | $1.7B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $9.0B | $1.4B | ||
| Q2 24 | $3.2B | $1.3B | ||
| Q1 24 | $2.2B | $1.2B |
| Q4 25 | $17.0B | $3.1B | ||
| Q3 25 | $16.5B | $3.0B | ||
| Q2 25 | $16.1B | $2.8B | ||
| Q1 25 | $15.0B | $2.6B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | $4.2B | $2.2B | ||
| Q1 24 | — | $2.1B |
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 | $562.0M | $194.0M |
| Free Cash FlowOCF − Capex | — | $178.0M |
| FCF MarginFCF / Revenue | — | 10.9% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 0.91× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $562.0M | $194.0M | ||
| Q3 25 | $745.0M | $165.0M | ||
| Q2 25 | $529.0M | $223.0M | ||
| Q1 25 | $265.0M | $79.0M | ||
| Q4 24 | — | $147.0M | ||
| Q3 24 | $567.0M | $109.0M | ||
| Q2 24 | $159.0M | $124.0M | ||
| Q1 24 | $516.0M | $-20.0M |
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $153.0M | ||
| Q2 25 | — | $208.0M | ||
| Q1 25 | — | $69.0M | ||
| Q4 24 | — | $134.0M | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | — | $108.0M | ||
| Q1 24 | — | $-33.0M |
| Q4 25 | — | 10.9% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | -3.1% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.2% |
| Q4 25 | 0.91× | 1.92× | ||
| Q3 25 | 1.08× | 1.57× | ||
| Q2 25 | 0.91× | 2.79× | ||
| Q1 25 | 0.52× | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | 1.06× | 1.95× | ||
| Q2 24 | 1.28× | 8.86× | ||
| Q1 24 | 1.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAM
| Incentive Fees | $452.0M | 42% |
| Infrastruture | $332.0M | 31% |
| Private Equity | $174.0M | 16% |
| Renewable Power And Transition | $66.0M | 6% |
| Other | $47.0M | 4% |
| Management And Advisory Fees | $14.0M | 1% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
