vs
Side-by-side financial comparison of Chefs' Warehouse, Inc. (CHEF) 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× Chefs' Warehouse, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs 1.6%, a 4.5% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 11.4%). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 5.3%).
Chefs' Warehouse, Inc. is a leading North American specialty food distributor that primarily serves independent restaurants, fine dining venues, hotels, catering firms, and other foodservice operators. It offers a curated portfolio of over 150,000 products including artisanal ingredients, specialty meats, seafood, dairy, pastries, and imported gourmet goods tailored for professional chefs.
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.
CHEF vs TOST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.6B |
| Net Profit | $17.4M | $101.0M |
| Gross Margin | 24.3% | 25.9% |
| Operating Margin | 3.1% | 5.2% |
| Net Margin | 1.6% | 6.2% |
| Revenue YoY | 11.4% | 22.0% |
| Net Profit YoY | 68.8% | 215.6% |
| EPS (diluted) | $0.40 | $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.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.0B | $1.6B | ||
| Q2 25 | $1.0B | $1.6B | ||
| Q1 25 | $950.7M | $1.3B | ||
| Q4 24 | $1.0B | $1.3B | ||
| Q3 24 | $931.5M | $1.3B | ||
| Q2 24 | $954.7M | $1.2B |
| Q1 26 | $17.4M | — | ||
| Q4 25 | $21.7M | $101.0M | ||
| Q3 25 | $19.1M | $105.0M | ||
| Q2 25 | $21.2M | $80.0M | ||
| Q1 25 | $10.3M | $56.0M | ||
| Q4 24 | $23.9M | $32.0M | ||
| Q3 24 | $14.1M | $56.0M | ||
| Q2 24 | $15.5M | $14.0M |
| Q1 26 | 24.3% | — | ||
| Q4 25 | 24.2% | 25.9% | ||
| Q3 25 | 24.2% | 26.5% | ||
| Q2 25 | 24.6% | 25.3% | ||
| Q1 25 | 23.8% | 25.9% | ||
| Q4 24 | 24.3% | 24.9% | ||
| Q3 24 | 24.1% | 24.7% | ||
| Q2 24 | 24.0% | 23.0% |
| Q1 26 | 3.1% | — | ||
| Q4 25 | 3.8% | 5.2% | ||
| Q3 25 | 3.8% | 5.1% | ||
| Q2 25 | 3.9% | 5.2% | ||
| Q1 25 | 2.4% | 3.2% | ||
| Q4 24 | 4.5% | 2.5% | ||
| Q3 24 | 3.4% | 2.6% | ||
| Q2 24 | 3.5% | 0.4% |
| Q1 26 | 1.6% | — | ||
| Q4 25 | 1.9% | 6.2% | ||
| Q3 25 | 1.9% | 6.4% | ||
| Q2 25 | 2.1% | 5.2% | ||
| Q1 25 | 1.1% | 4.2% | ||
| Q4 24 | 2.3% | 2.4% | ||
| Q3 24 | 1.5% | 4.3% | ||
| Q2 24 | 1.6% | 1.1% |
| Q1 26 | $0.40 | — | ||
| Q4 25 | $0.50 | $0.18 | ||
| Q3 25 | $0.44 | $0.16 | ||
| Q2 25 | $0.49 | $0.13 | ||
| Q1 25 | $0.25 | $0.09 | ||
| Q4 24 | $0.56 | $0.09 | ||
| Q3 24 | $0.34 | $0.07 | ||
| Q2 24 | $0.37 | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $122.7M | $1.4B |
| Total DebtLower is stronger | $750.4M | — |
| Stockholders' EquityBook value | $608.6M | $2.1B |
| Total Assets | $2.0B | $3.1B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.7M | — | ||
| Q4 25 | $121.0M | $1.4B | ||
| Q3 25 | $65.1M | $1.4B | ||
| Q2 25 | $96.9M | $1.2B | ||
| Q1 25 | $116.5M | $1.0B | ||
| Q4 24 | $114.7M | $903.0M | ||
| Q3 24 | $50.7M | $761.0M | ||
| Q2 24 | $38.3M | $691.0M |
| Q1 26 | $750.4M | — | ||
| Q4 25 | $720.3M | — | ||
| Q3 25 | $711.7M | — | ||
| Q2 25 | $690.2M | — | ||
| Q1 25 | $681.1M | — | ||
| Q4 24 | $688.7M | — | ||
| Q3 24 | $666.6M | — | ||
| Q2 24 | $660.8M | — |
| Q1 26 | $608.6M | — | ||
| Q4 25 | $604.3M | $2.1B | ||
| Q3 25 | $576.6M | $2.0B | ||
| Q2 25 | $557.7M | $1.8B | ||
| Q1 25 | $541.6M | $1.7B | ||
| Q4 24 | $537.6M | $1.5B | ||
| Q3 24 | $480.3M | $1.4B | ||
| Q2 24 | $461.9M | $1.3B |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $3.1B | ||
| Q3 25 | $1.9B | $3.0B | ||
| Q2 25 | $1.9B | $2.8B | ||
| Q1 25 | $1.8B | $2.6B | ||
| Q4 24 | $1.9B | $2.4B | ||
| Q3 24 | $1.8B | $2.2B | ||
| Q2 24 | $1.7B | $2.2B |
| Q1 26 | 1.23× | — | ||
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.23× | — | ||
| Q2 25 | 1.24× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.28× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 1.43× | — |
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 | $38.3M | $194.0M |
| Free Cash FlowOCF − Capex | — | $178.0M |
| FCF MarginFCF / Revenue | — | 10.9% |
| Capex IntensityCapex / Revenue | 0.7% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.20× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $38.3M | — | ||
| Q4 25 | $73.9M | $194.0M | ||
| Q3 25 | $-8.7M | $165.0M | ||
| Q2 25 | $14.5M | $223.0M | ||
| Q1 25 | $49.6M | $79.0M | ||
| Q4 24 | $73.0M | $147.0M | ||
| Q3 24 | $19.8M | $109.0M | ||
| Q2 24 | $29.3M | $124.0M |
| Q1 26 | — | — | ||
| Q4 25 | $65.8M | $178.0M | ||
| Q3 25 | $-19.7M | $153.0M | ||
| Q2 25 | $4.5M | $208.0M | ||
| Q1 25 | $37.2M | $69.0M | ||
| Q4 24 | $64.6M | $134.0M | ||
| Q3 24 | $11.8M | $97.0M | ||
| Q2 24 | $13.3M | $108.0M |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 10.9% | ||
| Q3 25 | -1.9% | 9.4% | ||
| Q2 25 | 0.4% | 13.4% | ||
| Q1 25 | 3.9% | 5.2% | ||
| Q4 24 | 6.3% | 10.0% | ||
| Q3 24 | 1.3% | 7.4% | ||
| Q2 24 | 1.4% | 8.7% |
| Q1 26 | 0.7% | — | ||
| Q4 25 | 0.7% | 1.0% | ||
| Q3 25 | 1.1% | 0.7% | ||
| Q2 25 | 1.0% | 1.0% | ||
| Q1 25 | 1.3% | 0.7% | ||
| Q4 24 | 0.8% | 1.0% | ||
| Q3 24 | 0.9% | 0.9% | ||
| Q2 24 | 1.7% | 1.3% |
| Q1 26 | 2.20× | — | ||
| Q4 25 | 3.41× | 1.92× | ||
| Q3 25 | -0.46× | 1.57× | ||
| Q2 25 | 0.68× | 2.79× | ||
| Q1 25 | 4.82× | 1.41× | ||
| Q4 24 | 3.05× | 4.59× | ||
| Q3 24 | 1.41× | 1.95× | ||
| Q2 24 | 1.89× | 8.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CHEF
Segment breakdown not available.
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
