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Side-by-side financial comparison of TopBuild Corp (BLD) 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 $1.5B, roughly 1.1× TopBuild Corp). TopBuild Corp runs the higher net margin — 7.0% vs 6.2%, a 0.9% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 13.2%). Toast, Inc. produced more free cash flow last quarter ($178.0M vs $159.4M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 7.8%).
HashiCorp, Inc. is an American software company with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation.
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.
BLD vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $1.6B |
| Net Profit | $104.5M | $101.0M |
| Gross Margin | 27.2% | 25.9% |
| Operating Margin | 12.1% | 5.2% |
| Net Margin | 7.0% | 6.2% |
| Revenue YoY | 13.2% | 22.0% |
| Net Profit YoY | -30.6% | 215.6% |
| EPS (diluted) | $3.69 | $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 | $1.5B | $1.6B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.3B | $1.1B |
| Q4 25 | $104.5M | $101.0M | ||
| Q3 25 | $142.2M | $105.0M | ||
| Q2 25 | $151.6M | $80.0M | ||
| Q1 25 | $123.4M | $56.0M | ||
| Q4 24 | $150.5M | $32.0M | ||
| Q3 24 | $169.0M | $56.0M | ||
| Q2 24 | $150.7M | $14.0M | ||
| Q1 24 | $152.4M | $-83.0M |
| Q4 25 | 27.2% | 25.9% | ||
| Q3 25 | 30.1% | 26.5% | ||
| Q2 25 | 30.4% | 25.3% | ||
| Q1 25 | 28.5% | 25.9% | ||
| Q4 24 | 29.9% | 24.9% | ||
| Q3 24 | 30.7% | 24.7% | ||
| Q2 24 | 31.0% | 23.0% | ||
| Q1 24 | 30.3% | 23.2% |
| Q4 25 | 12.1% | 5.2% | ||
| Q3 25 | 15.4% | 5.1% | ||
| Q2 25 | 16.9% | 5.2% | ||
| Q1 25 | 14.4% | 3.2% | ||
| Q4 24 | 16.6% | 2.5% | ||
| Q3 24 | 17.8% | 2.6% | ||
| Q2 24 | 15.4% | 0.4% | ||
| Q1 24 | 16.8% | -5.2% |
| Q4 25 | 7.0% | 6.2% | ||
| Q3 25 | 10.2% | 6.4% | ||
| Q2 25 | 11.7% | 5.2% | ||
| Q1 25 | 10.0% | 4.2% | ||
| Q4 24 | 11.5% | 2.4% | ||
| Q3 24 | 12.3% | 4.3% | ||
| Q2 24 | 11.0% | 1.1% | ||
| Q1 24 | 11.9% | -7.7% |
| Q4 25 | $3.69 | $0.18 | ||
| Q3 25 | $5.04 | $0.16 | ||
| Q2 25 | $5.32 | $0.13 | ||
| Q1 25 | $4.23 | $0.09 | ||
| Q4 24 | $5.07 | $0.09 | ||
| Q3 24 | $5.65 | $0.07 | ||
| Q2 24 | $4.78 | $0.02 | ||
| Q1 24 | $4.79 | $-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 | $184.7M | $1.4B |
| Total DebtLower is stronger | $2.8B | — |
| Stockholders' EquityBook value | $2.3B | $2.1B |
| Total Assets | $6.6B | $3.1B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.7M | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $842.5M | $1.2B | ||
| Q1 25 | $308.8M | $1.0B | ||
| Q4 24 | $400.3M | $903.0M | ||
| Q3 24 | $257.3M | $761.0M | ||
| Q2 24 | $463.2M | $691.0M | ||
| Q1 24 | $968.8M | $578.0M |
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $2.3B | $2.1B | ||
| Q3 25 | $2.2B | $2.0B | ||
| Q2 25 | $2.1B | $1.8B | ||
| Q1 25 | $2.1B | $1.7B | ||
| Q4 24 | $2.2B | $1.5B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $2.4B | $1.3B | ||
| Q1 24 | $2.7B | $1.2B |
| Q4 25 | $6.6B | $3.1B | ||
| Q3 25 | $6.4B | $3.0B | ||
| Q2 25 | $5.1B | $2.8B | ||
| Q1 25 | $4.6B | $2.6B | ||
| Q4 24 | $4.7B | $2.4B | ||
| Q3 24 | $4.7B | $2.2B | ||
| Q2 24 | $4.9B | $2.2B | ||
| Q1 24 | $5.3B | $2.1B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.62× | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.52× | — |
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 | $176.7M | $194.0M |
| Free Cash FlowOCF − Capex | $159.4M | $178.0M |
| FCF MarginFCF / Revenue | 10.7% | 10.9% |
| Capex IntensityCapex / Revenue | 1.2% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.69× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $696.9M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $176.7M | $194.0M | ||
| Q3 25 | $233.3M | $165.0M | ||
| Q2 25 | $193.7M | $223.0M | ||
| Q1 25 | $152.6M | $79.0M | ||
| Q4 24 | $266.2M | $147.0M | ||
| Q3 24 | $240.7M | $109.0M | ||
| Q2 24 | $90.4M | $124.0M | ||
| Q1 24 | $178.8M | $-20.0M |
| Q4 25 | $159.4M | $178.0M | ||
| Q3 25 | $216.2M | $153.0M | ||
| Q2 25 | $182.2M | $208.0M | ||
| Q1 25 | $139.2M | $69.0M | ||
| Q4 24 | $253.7M | $134.0M | ||
| Q3 24 | $219.8M | $97.0M | ||
| Q2 24 | $74.3M | $108.0M | ||
| Q1 24 | $158.9M | $-33.0M |
| Q4 25 | 10.7% | 10.9% | ||
| Q3 25 | 15.5% | 9.4% | ||
| Q2 25 | 14.0% | 13.4% | ||
| Q1 25 | 11.3% | 5.2% | ||
| Q4 24 | 19.3% | 10.0% | ||
| Q3 24 | 16.0% | 7.4% | ||
| Q2 24 | 5.4% | 8.7% | ||
| Q1 24 | 12.4% | -3.1% |
| Q4 25 | 1.2% | 1.0% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 0.9% | 1.0% | ||
| Q1 25 | 1.1% | 0.7% | ||
| Q4 24 | 1.0% | 1.0% | ||
| Q3 24 | 1.5% | 0.9% | ||
| Q2 24 | 1.2% | 1.3% | ||
| Q1 24 | 1.6% | 1.2% |
| Q4 25 | 1.69× | 1.92× | ||
| Q3 25 | 1.64× | 1.57× | ||
| Q2 25 | 1.28× | 2.79× | ||
| Q1 25 | 1.24× | 1.41× | ||
| Q4 24 | 1.77× | 4.59× | ||
| Q3 24 | 1.42× | 1.95× | ||
| Q2 24 | 0.60× | 8.86× | ||
| Q1 24 | 1.17× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
