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Side-by-side financial comparison of COMFORT SYSTEMS USA INC (FIX) and Toast, Inc. (TOST). Click either name above to swap in a different company.
COMFORT SYSTEMS USA INC is the larger business by last-quarter revenue ($2.6B vs $1.6B, roughly 1.6× Toast, Inc.). COMFORT SYSTEMS USA INC runs the higher net margin — 12.5% vs 6.2%, a 6.3% gap on every dollar of revenue. On growth, COMFORT SYSTEMS USA INC posted the faster year-over-year revenue change (41.7% vs 22.0%). COMFORT SYSTEMS USA INC produced more free cash flow last quarter ($402.4M vs $178.0M). Over the past eight quarters, COMFORT SYSTEMS USA INC's revenue compounded faster (31.2% CAGR vs 23.3%).
Comfort Systems USA, Inc. is an American company that provides mechanical and electrical contracting services, primarily HVAC, plumbing, piping and controls, off-site construction, monitoring and fire protection, and installation and servicing of electrical systems.
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.
FIX vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.6B | $1.6B |
| Net Profit | $330.8M | $101.0M |
| Gross Margin | 25.5% | 25.9% |
| Operating Margin | 16.1% | 5.2% |
| Net Margin | 12.5% | 6.2% |
| Revenue YoY | 41.7% | 22.0% |
| Net Profit YoY | 126.8% | 215.6% |
| EPS (diluted) | $9.35 | $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 | $2.6B | $1.6B | ||
| Q3 25 | $2.5B | $1.6B | ||
| Q2 25 | $2.2B | $1.6B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.9B | $1.3B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.8B | $1.2B | ||
| Q1 24 | $1.5B | $1.1B |
| Q4 25 | $330.8M | $101.0M | ||
| Q3 25 | $291.6M | $105.0M | ||
| Q2 25 | $230.8M | $80.0M | ||
| Q1 25 | $169.3M | $56.0M | ||
| Q4 24 | $145.9M | $32.0M | ||
| Q3 24 | $146.2M | $56.0M | ||
| Q2 24 | $134.0M | $14.0M | ||
| Q1 24 | $96.3M | $-83.0M |
| Q4 25 | 25.5% | 25.9% | ||
| Q3 25 | 24.8% | 26.5% | ||
| Q2 25 | 23.5% | 25.3% | ||
| Q1 25 | 22.0% | 25.9% | ||
| Q4 24 | 23.2% | 24.9% | ||
| Q3 24 | 21.1% | 24.7% | ||
| Q2 24 | 20.1% | 23.0% | ||
| Q1 24 | 19.3% | 23.2% |
| Q4 25 | 16.1% | 5.2% | ||
| Q3 25 | 15.5% | 5.1% | ||
| Q2 25 | 13.8% | 5.2% | ||
| Q1 25 | 11.4% | 3.2% | ||
| Q4 24 | 12.1% | 2.5% | ||
| Q3 24 | 11.2% | 2.6% | ||
| Q2 24 | 10.2% | 0.4% | ||
| Q1 24 | 8.8% | -5.2% |
| Q4 25 | 12.5% | 6.2% | ||
| Q3 25 | 11.9% | 6.4% | ||
| Q2 25 | 10.6% | 5.2% | ||
| Q1 25 | 9.2% | 4.2% | ||
| Q4 24 | 7.8% | 2.4% | ||
| Q3 24 | 8.1% | 4.3% | ||
| Q2 24 | 7.4% | 1.1% | ||
| Q1 24 | 6.3% | -7.7% |
| Q4 25 | $9.35 | $0.18 | ||
| Q3 25 | $8.25 | $0.16 | ||
| Q2 25 | $6.53 | $0.13 | ||
| Q1 25 | $4.75 | $0.09 | ||
| Q4 24 | $4.08 | $0.09 | ||
| Q3 24 | $4.09 | $0.07 | ||
| Q2 24 | $3.74 | $0.02 | ||
| Q1 24 | $2.69 | $-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 | $981.9M | $1.4B |
| Total DebtLower is stronger | $145.2M | — |
| Stockholders' EquityBook value | $2.4B | $2.1B |
| Total Assets | $6.4B | $3.1B |
| Debt / EquityLower = less leverage | 0.06× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $981.9M | $1.4B | ||
| Q3 25 | $860.5M | $1.4B | ||
| Q2 25 | $331.7M | $1.2B | ||
| Q1 25 | $204.8M | $1.0B | ||
| Q4 24 | $549.9M | $903.0M | ||
| Q3 24 | $415.6M | $761.0M | ||
| Q2 24 | $199.4M | $691.0M | ||
| Q1 24 | $100.8M | $578.0M |
| Q4 25 | $145.2M | — | ||
| Q3 25 | $136.0M | — | ||
| Q2 25 | $73.0M | — | ||
| Q1 25 | $67.8M | — | ||
| Q4 24 | $68.3M | — | ||
| Q3 24 | $62.3M | — | ||
| Q2 24 | $73.4M | — | ||
| Q1 24 | $77.0M | — |
| Q4 25 | $2.4B | $2.1B | ||
| Q3 25 | $2.2B | $2.0B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | $1.8B | $1.7B | ||
| Q4 24 | $1.7B | $1.5B | ||
| Q3 24 | $1.6B | $1.4B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.4B | $1.2B |
| Q4 25 | $6.4B | $3.1B | ||
| Q3 25 | $5.8B | $3.0B | ||
| Q2 25 | $5.1B | $2.8B | ||
| Q1 25 | $4.6B | $2.6B | ||
| Q4 24 | $4.7B | $2.4B | ||
| Q3 24 | $4.4B | $2.2B | ||
| Q2 24 | $4.2B | $2.2B | ||
| Q1 24 | $3.9B | $2.1B |
| Q4 25 | 0.06× | — | ||
| Q3 25 | 0.06× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.05× | — | ||
| Q1 24 | 0.06× | — |
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 | $468.5M | $194.0M |
| Free Cash FlowOCF − Capex | $402.4M | $178.0M |
| FCF MarginFCF / Revenue | 15.2% | 10.9% |
| Capex IntensityCapex / Revenue | 2.5% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.42× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $468.5M | $194.0M | ||
| Q3 25 | $553.3M | $165.0M | ||
| Q2 25 | $252.5M | $223.0M | ||
| Q1 25 | $-88.0M | $79.0M | ||
| Q4 24 | $210.5M | $147.0M | ||
| Q3 24 | $302.2M | $109.0M | ||
| Q2 24 | $189.9M | $124.0M | ||
| Q1 24 | $146.6M | $-20.0M |
| Q4 25 | $402.4M | $178.0M | ||
| Q3 25 | $517.9M | $153.0M | ||
| Q2 25 | $221.2M | $208.0M | ||
| Q1 25 | $-110.2M | $69.0M | ||
| Q4 24 | $169.8M | $134.0M | ||
| Q3 24 | $280.1M | $97.0M | ||
| Q2 24 | $166.5M | $108.0M | ||
| Q1 24 | $121.6M | $-33.0M |
| Q4 25 | 15.2% | 10.9% | ||
| Q3 25 | 21.1% | 9.4% | ||
| Q2 25 | 10.2% | 13.4% | ||
| Q1 25 | -6.0% | 5.2% | ||
| Q4 24 | 9.1% | 10.0% | ||
| Q3 24 | 15.5% | 7.4% | ||
| Q2 24 | 9.2% | 8.7% | ||
| Q1 24 | 7.9% | -3.1% |
| Q4 25 | 2.5% | 1.0% | ||
| Q3 25 | 1.4% | 0.7% | ||
| Q2 25 | 1.4% | 1.0% | ||
| Q1 25 | 1.2% | 0.7% | ||
| Q4 24 | 2.2% | 1.0% | ||
| Q3 24 | 1.2% | 0.9% | ||
| Q2 24 | 1.3% | 1.3% | ||
| Q1 24 | 1.6% | 1.2% |
| Q4 25 | 1.42× | 1.92× | ||
| Q3 25 | 1.90× | 1.57× | ||
| Q2 25 | 1.09× | 2.79× | ||
| Q1 25 | -0.52× | 1.41× | ||
| Q4 24 | 1.44× | 4.59× | ||
| Q3 24 | 2.07× | 1.95× | ||
| Q2 24 | 1.42× | 8.86× | ||
| Q1 24 | 1.52× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
