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Side-by-side financial comparison of Garmin (GRMN) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Garmin is the larger business by last-quarter revenue ($1.8B vs $1.6B, roughly 1.1× Toast, Inc.). Garmin runs the higher net margin — 23.1% vs 6.2%, a 16.9% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 14.0%). Garmin produced more free cash flow last quarter ($469.4M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 7.9%).
Garmin Ltd. is an American multinational technology company based in Olathe, Kansas. The company designs, develops, manufactures, markets, and distributes GPS-enabled products and other navigation, communication, sensor-based, and information products to the automotive, aviation, marine, outdoors, and sport markets.
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.
GRMN vs TOST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $1.6B |
| Net Profit | $405.1M | $101.0M |
| Gross Margin | 59.4% | 25.9% |
| Operating Margin | 24.6% | 5.2% |
| Net Margin | 23.1% | 6.2% |
| Revenue YoY | 14.0% | 22.0% |
| Net Profit YoY | 21.7% | 215.6% |
| EPS (diluted) | $2.09 | $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 | $1.8B | — | ||
| Q4 25 | $2.1B | $1.6B | ||
| Q3 25 | $1.8B | $1.6B | ||
| Q2 25 | $1.8B | $1.6B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.8B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.2B |
| Q1 26 | $405.1M | — | ||
| Q4 25 | $528.7M | $101.0M | ||
| Q3 25 | $401.6M | $105.0M | ||
| Q2 25 | $400.8M | $80.0M | ||
| Q1 25 | $332.8M | $56.0M | ||
| Q4 24 | $435.7M | $32.0M | ||
| Q3 24 | $399.1M | $56.0M | ||
| Q2 24 | $300.6M | $14.0M |
| Q1 26 | 59.4% | — | ||
| Q4 25 | 59.2% | 25.9% | ||
| Q3 25 | 59.1% | 26.5% | ||
| Q2 25 | 58.8% | 25.3% | ||
| Q1 25 | 57.6% | 25.9% | ||
| Q4 24 | 59.3% | 24.9% | ||
| Q3 24 | 60.0% | 24.7% | ||
| Q2 24 | 57.3% | 23.0% |
| Q1 26 | 24.6% | — | ||
| Q4 25 | 28.9% | 5.2% | ||
| Q3 25 | 25.8% | 5.1% | ||
| Q2 25 | 26.0% | 5.2% | ||
| Q1 25 | 21.7% | 3.2% | ||
| Q4 24 | 28.3% | 2.5% | ||
| Q3 24 | 27.6% | 2.6% | ||
| Q2 24 | 22.7% | 0.4% |
| Q1 26 | 23.1% | — | ||
| Q4 25 | 24.9% | 6.2% | ||
| Q3 25 | 22.7% | 6.4% | ||
| Q2 25 | 22.1% | 5.2% | ||
| Q1 25 | 21.7% | 4.2% | ||
| Q4 24 | 23.9% | 2.4% | ||
| Q3 24 | 25.2% | 4.3% | ||
| Q2 24 | 20.0% | 1.1% |
| Q1 26 | $2.09 | — | ||
| Q4 25 | $2.72 | $0.18 | ||
| Q3 25 | $2.08 | $0.16 | ||
| Q2 25 | $2.07 | $0.13 | ||
| Q1 25 | $1.72 | $0.09 | ||
| Q4 24 | $2.24 | $0.09 | ||
| Q3 24 | $2.07 | $0.07 | ||
| Q2 24 | $1.56 | $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 | $2.3B | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $2.1B |
| Total Assets | $11.0B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $1.4B | ||
| Q3 25 | $2.1B | $1.4B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.2B | $1.0B | ||
| Q4 24 | $2.1B | $903.0M | ||
| Q3 24 | $2.0B | $761.0M | ||
| Q2 24 | $1.9B | $691.0M |
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $2.1B | ||
| Q3 25 | $8.5B | $2.0B | ||
| Q2 25 | $8.1B | $1.8B | ||
| Q1 25 | $8.2B | $1.7B | ||
| Q4 24 | $7.8B | $1.5B | ||
| Q3 24 | $7.5B | $1.4B | ||
| Q2 24 | $7.0B | $1.3B |
| Q1 26 | $11.0B | — | ||
| Q4 25 | $11.0B | $3.1B | ||
| Q3 25 | $10.5B | $3.0B | ||
| Q2 25 | $10.3B | $2.8B | ||
| Q1 25 | $9.8B | $2.6B | ||
| Q4 24 | $9.6B | $2.4B | ||
| Q3 24 | $9.3B | $2.2B | ||
| Q2 24 | $8.9B | $2.2B |
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 | $536.0M | $194.0M |
| Free Cash FlowOCF − Capex | $469.4M | $178.0M |
| FCF MarginFCF / Revenue | 26.8% | 10.9% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 1.32× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $536.0M | — | ||
| Q4 25 | $553.8M | $194.0M | ||
| Q3 25 | $485.6M | $165.0M | ||
| Q2 25 | $173.2M | $223.0M | ||
| Q1 25 | $420.8M | $79.0M | ||
| Q4 24 | $483.9M | $147.0M | ||
| Q3 24 | $258.0M | $109.0M | ||
| Q2 24 | $255.3M | $124.0M |
| Q1 26 | $469.4M | — | ||
| Q4 25 | $429.6M | $178.0M | ||
| Q3 25 | $425.1M | $153.0M | ||
| Q2 25 | $127.5M | $208.0M | ||
| Q1 25 | $380.7M | $69.0M | ||
| Q4 24 | $399.2M | $134.0M | ||
| Q3 24 | $219.4M | $97.0M | ||
| Q2 24 | $218.2M | $108.0M |
| Q1 26 | 26.8% | — | ||
| Q4 25 | 20.2% | 10.9% | ||
| Q3 25 | 24.0% | 9.4% | ||
| Q2 25 | 7.0% | 13.4% | ||
| Q1 25 | 24.8% | 5.2% | ||
| Q4 24 | 21.9% | 10.0% | ||
| Q3 24 | 13.8% | 7.4% | ||
| Q2 24 | 14.5% | 8.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 1.0% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 2.5% | 1.0% | ||
| Q1 25 | 2.6% | 0.7% | ||
| Q4 24 | 4.6% | 1.0% | ||
| Q3 24 | 2.4% | 0.9% | ||
| Q2 24 | 2.5% | 1.3% |
| Q1 26 | 1.32× | — | ||
| Q4 25 | 1.05× | 1.92× | ||
| Q3 25 | 1.21× | 1.57× | ||
| Q2 25 | 0.43× | 2.79× | ||
| Q1 25 | 1.26× | 1.41× | ||
| Q4 24 | 1.11× | 4.59× | ||
| Q3 24 | 0.65× | 1.95× | ||
| Q2 24 | 0.85× | 8.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRMN
Segment breakdown not available.
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
