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Side-by-side financial comparison of BREAD FINANCIAL HOLDINGS, INC. (BFH) 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 $975.0M, roughly 1.7× BREAD FINANCIAL HOLDINGS, INC.). On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 5.4%). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs -0.8%).
Bread Financial Holdings, Inc. is an American publicly traded provider of private label credit cards, coalition loyalty programs, and direct marketing, derived from the capture and analysis of transaction-rich data.
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.
BFH vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $975.0M | $1.6B |
| Net Profit | — | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | 4.9% | 5.2% |
| Net Margin | — | 6.2% |
| Revenue YoY | 5.4% | 22.0% |
| Net Profit YoY | — | 215.6% |
| EPS (diluted) | $1.21 | $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 | $975.0M | $1.6B | ||
| Q3 25 | $971.0M | $1.6B | ||
| Q2 25 | $929.0M | $1.6B | ||
| Q1 25 | $970.0M | $1.3B | ||
| Q4 24 | $925.0M | $1.3B | ||
| Q3 24 | $983.0M | $1.3B | ||
| Q2 24 | $939.0M | $1.2B | ||
| Q1 24 | $991.0M | $1.1B |
| Q4 25 | — | $101.0M | ||
| Q3 25 | $188.0M | $105.0M | ||
| Q2 25 | $139.0M | $80.0M | ||
| Q1 25 | $138.0M | $56.0M | ||
| Q4 24 | — | $32.0M | ||
| Q3 24 | $2.0M | $56.0M | ||
| Q2 24 | $133.0M | $14.0M | ||
| Q1 24 | $134.0M | $-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 | 4.9% | 5.2% | ||
| Q3 25 | 20.2% | 5.1% | ||
| Q2 25 | 18.7% | 5.2% | ||
| Q1 25 | 20.3% | 3.2% | ||
| Q4 24 | -2.9% | 2.5% | ||
| Q3 24 | 4.1% | 2.6% | ||
| Q2 24 | 19.2% | 0.4% | ||
| Q1 24 | 19.0% | -5.2% |
| Q4 25 | — | 6.2% | ||
| Q3 25 | 19.4% | 6.4% | ||
| Q2 25 | 15.0% | 5.2% | ||
| Q1 25 | 14.2% | 4.2% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | 0.2% | 4.3% | ||
| Q2 24 | 14.2% | 1.1% | ||
| Q1 24 | 13.5% | -7.7% |
| Q4 25 | $1.21 | $0.18 | ||
| Q3 25 | $3.96 | $0.16 | ||
| Q2 25 | $2.94 | $0.13 | ||
| Q1 25 | $2.78 | $0.09 | ||
| Q4 24 | $0.08 | $0.09 | ||
| Q3 24 | $0.05 | $0.07 | ||
| Q2 24 | $2.66 | $0.02 | ||
| Q1 24 | $2.70 | $-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 | $3.6B | $1.4B |
| Total DebtLower is stronger | $4.3B | — |
| Stockholders' EquityBook value | $3.3B | $2.1B |
| Total Assets | $22.7B | $3.1B |
| Debt / EquityLower = less leverage | 1.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.6B | $1.4B | ||
| Q3 25 | $3.8B | $1.4B | ||
| Q2 25 | $3.8B | $1.2B | ||
| Q1 25 | $4.2B | $1.0B | ||
| Q4 24 | $4.0B | $903.0M | ||
| Q3 24 | $3.5B | $761.0M | ||
| Q2 24 | $4.1B | $691.0M | ||
| Q1 24 | $3.8B | $578.0M |
| Q4 25 | $4.3B | — | ||
| Q3 25 | $3.8B | — | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $5.1B | — | ||
| Q4 24 | $5.6B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.3B | $2.1B | ||
| Q3 25 | $3.3B | $2.0B | ||
| Q2 25 | $3.2B | $1.8B | ||
| Q1 25 | $3.1B | $1.7B | ||
| Q4 24 | $3.1B | $1.5B | ||
| Q3 24 | $3.1B | $1.4B | ||
| Q2 24 | $3.2B | $1.3B | ||
| Q1 24 | $3.0B | $1.2B |
| Q4 25 | $22.7B | $3.1B | ||
| Q3 25 | $21.7B | $3.0B | ||
| Q2 25 | $21.8B | $2.8B | ||
| Q1 25 | $22.4B | $2.6B | ||
| Q4 24 | $22.9B | $2.4B | ||
| Q3 24 | $21.7B | $2.2B | ||
| Q2 24 | $22.1B | $2.2B | ||
| Q1 24 | $22.3B | $2.1B |
| Q4 25 | 1.29× | — | ||
| Q3 25 | 1.14× | — | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 1.67× | — | ||
| Q4 24 | 1.82× | — | ||
| Q3 24 | 1.47× | — | ||
| Q2 24 | — | — | ||
| 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 | $568.0M | $194.0M |
| Free Cash FlowOCF − Capex | — | $178.0M |
| FCF MarginFCF / Revenue | — | 10.9% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $568.0M | $194.0M | ||
| Q3 25 | $605.0M | $165.0M | ||
| Q2 25 | $526.0M | $223.0M | ||
| Q1 25 | $393.0M | $79.0M | ||
| Q4 24 | $479.0M | $147.0M | ||
| Q3 24 | $456.0M | $109.0M | ||
| Q2 24 | $477.0M | $124.0M | ||
| Q1 24 | $447.0M | $-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 | — | 1.92× | ||
| Q3 25 | 3.22× | 1.57× | ||
| Q2 25 | 3.78× | 2.79× | ||
| Q1 25 | 2.85× | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | 228.00× | 1.95× | ||
| Q2 24 | 3.59× | 8.86× | ||
| Q1 24 | 3.34× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFH
Segment breakdown not available.
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
