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Side-by-side financial comparison of Bath & Body Works, Inc. (BBWI) 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 $1.6B, roughly 1.0× Bath & Body Works, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs 4.8%, a 1.4% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs -1.0%). Toast, Inc. produced more free cash flow last quarter ($178.0M vs $-1.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs -26.0%).
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
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.
BBWI vs TOST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.6B |
| Net Profit | $77.0M | $101.0M |
| Gross Margin | 41.3% | 25.9% |
| Operating Margin | 10.1% | 5.2% |
| Net Margin | 4.8% | 6.2% |
| Revenue YoY | -1.0% | 22.0% |
| Net Profit YoY | -27.4% | 215.6% |
| EPS (diluted) | $0.37 | $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 | $1.6B | $1.6B | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $2.8B | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $2.9B | $1.1B |
| Q4 25 | $77.0M | $101.0M | ||
| Q3 25 | $64.0M | $105.0M | ||
| Q2 25 | $105.0M | $80.0M | ||
| Q1 25 | $453.0M | $56.0M | ||
| Q4 24 | $106.0M | $32.0M | ||
| Q3 24 | $152.0M | $56.0M | ||
| Q2 24 | $87.0M | $14.0M | ||
| Q1 24 | $579.0M | $-83.0M |
| Q4 25 | 41.3% | 25.9% | ||
| Q3 25 | 41.3% | 26.5% | ||
| Q2 25 | 45.4% | 25.3% | ||
| Q1 25 | 46.7% | 25.9% | ||
| Q4 24 | 43.5% | 24.9% | ||
| Q3 24 | 41.0% | 24.7% | ||
| Q2 24 | 43.8% | 23.0% | ||
| Q1 24 | 45.9% | 23.2% |
| Q4 25 | 10.1% | 5.2% | ||
| Q3 25 | 10.1% | 5.1% | ||
| Q2 25 | 14.7% | 5.2% | ||
| Q1 25 | 24.3% | 3.2% | ||
| Q4 24 | 13.5% | 2.5% | ||
| Q3 24 | 12.0% | 2.6% | ||
| Q2 24 | 13.5% | 0.4% | ||
| Q1 24 | 23.9% | -5.2% |
| Q4 25 | 4.8% | 6.2% | ||
| Q3 25 | 4.1% | 6.4% | ||
| Q2 25 | 7.4% | 5.2% | ||
| Q1 25 | 16.3% | 4.2% | ||
| Q4 24 | 6.6% | 2.4% | ||
| Q3 24 | 10.0% | 4.3% | ||
| Q2 24 | 6.3% | 1.1% | ||
| Q1 24 | 19.9% | -7.7% |
| Q4 25 | $0.37 | $0.18 | ||
| Q3 25 | $0.30 | $0.16 | ||
| Q2 25 | $0.49 | $0.13 | ||
| Q1 25 | $2.06 | $0.09 | ||
| Q4 24 | $0.49 | $0.09 | ||
| Q3 24 | $0.68 | $0.07 | ||
| Q2 24 | $0.38 | $0.02 | ||
| Q1 24 | $2.54 | $-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 | $236.0M | $1.4B |
| Total DebtLower is stronger | $3.9B | — |
| Stockholders' EquityBook value | $-1.6B | $2.1B |
| Total Assets | $5.0B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.0M | $1.4B | ||
| Q3 25 | $364.0M | $1.4B | ||
| Q2 25 | $636.0M | $1.2B | ||
| Q1 25 | $674.0M | $1.0B | ||
| Q4 24 | $191.0M | $903.0M | ||
| Q3 24 | $514.0M | $761.0M | ||
| Q2 24 | $855.0M | $691.0M | ||
| Q1 24 | $1.1B | $578.0M |
| Q4 25 | $3.9B | — | ||
| Q3 25 | $3.9B | — | ||
| Q2 25 | $3.9B | — | ||
| Q1 25 | $3.9B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.2B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.4B | — |
| Q4 25 | $-1.6B | $2.1B | ||
| Q3 25 | $-1.5B | $2.0B | ||
| Q2 25 | $-1.5B | $1.8B | ||
| Q1 25 | $-1.4B | $1.7B | ||
| Q4 24 | $-1.7B | $1.5B | ||
| Q3 24 | $-1.7B | $1.4B | ||
| Q2 24 | $-1.7B | $1.3B | ||
| Q1 24 | $-1.6B | $1.2B |
| Q4 25 | $5.0B | $3.1B | ||
| Q3 25 | $4.8B | $3.0B | ||
| Q2 25 | $4.9B | $2.8B | ||
| Q1 25 | $4.9B | $2.6B | ||
| Q4 24 | $5.0B | $2.4B | ||
| Q3 24 | $4.9B | $2.2B | ||
| Q2 24 | $5.2B | $2.2B | ||
| Q1 24 | $5.5B | $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 | $80.0M | $194.0M |
| Free Cash FlowOCF − Capex | $-1.0M | $178.0M |
| FCF MarginFCF / Revenue | -0.1% | 10.9% |
| Capex IntensityCapex / Revenue | 5.1% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.04× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $946.0M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.0M | $194.0M | ||
| Q3 25 | $-43.0M | $165.0M | ||
| Q2 25 | $188.0M | $223.0M | ||
| Q1 25 | $955.0M | $79.0M | ||
| Q4 24 | $-99.0M | $147.0M | ||
| Q3 24 | $-46.0M | $109.0M | ||
| Q2 24 | $76.0M | $124.0M | ||
| Q1 24 | $926.0M | $-20.0M |
| Q4 25 | $-1.0M | $178.0M | ||
| Q3 25 | $-99.0M | $153.0M | ||
| Q2 25 | $151.0M | $208.0M | ||
| Q1 25 | $895.0M | $69.0M | ||
| Q4 24 | $-164.0M | $134.0M | ||
| Q3 24 | $-101.0M | $97.0M | ||
| Q2 24 | $30.0M | $108.0M | ||
| Q1 24 | $878.0M | $-33.0M |
| Q4 25 | -0.1% | 10.9% | ||
| Q3 25 | -6.4% | 9.4% | ||
| Q2 25 | 10.6% | 13.4% | ||
| Q1 25 | 32.1% | 5.2% | ||
| Q4 24 | -10.2% | 10.0% | ||
| Q3 24 | -6.6% | 7.4% | ||
| Q2 24 | 2.2% | 8.7% | ||
| Q1 24 | 30.2% | -3.1% |
| Q4 25 | 5.1% | 1.0% | ||
| Q3 25 | 3.6% | 0.7% | ||
| Q2 25 | 2.6% | 1.0% | ||
| Q1 25 | 2.2% | 0.7% | ||
| Q4 24 | 4.0% | 1.0% | ||
| Q3 24 | 3.6% | 0.9% | ||
| Q2 24 | 3.3% | 1.3% | ||
| Q1 24 | 1.6% | 1.2% |
| Q4 25 | 1.04× | 1.92× | ||
| Q3 25 | -0.67× | 1.57× | ||
| Q2 25 | 1.79× | 2.79× | ||
| Q1 25 | 2.11× | 1.41× | ||
| Q4 24 | -0.93× | 4.59× | ||
| Q3 24 | -0.30× | 1.95× | ||
| Q2 24 | 0.87× | 8.86× | ||
| Q1 24 | 1.60× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
