How do Hyatt Hotels Corp and Toast, Inc. compare by revenue?

Hyatt Hotels Corp reported revenue of $1.8B in Q4 FY2025, while Toast, Inc. reported $1.6B in Q4 FY2025. Hyatt Hotels Corp is 1.1× larger by last-quarter revenue.

Which is growing revenue faster, Hyatt Hotels Corp or Toast, Inc.?

Hyatt Hotels Corp's latest revenue grew 11.7% year-over-year, versus 22.0% for Toast, Inc.. Toast, Inc. is growing faster on a YoY basis.

Which has a higher net margin, Hyatt Hotels Corp or Toast, Inc.?

Hyatt Hotels Corp's net margin is -1.1% vs Toast, Inc.'s 6.2%. Toast, Inc. has the higher bottom-line margin.

Which generates more free cash flow, Hyatt Hotels Corp or Toast, Inc.?

Hyatt Hotels Corp generated $236.0M of free cash flow last quarter, versus $178.0M for Toast, Inc.. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for Hyatt Hotels Corp vs Toast, Inc.?

Over the trailing 8 quarters, Hyatt Hotels Corp compounded revenue at roughly 2.2% per year, versus 23.3% for Toast, Inc.. Toast, Inc. has the faster medium-term growth trajectory.

Where does this H vs TOST data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of Hyatt Hotels Corp (H) and Toast, Inc. (TOST). Click either name above to swap in a different company.

Hyatt Hotels Corp is the larger business by last-quarter revenue ($1.8B vs $1.6B, roughly 1.1× Toast, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs -1.1%, a 7.3% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 11.7%). Hyatt Hotels Corp produced more free cash flow last quarter ($236.0M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 2.2%).

Hyatt Hotels CorpHEarnings & Financial Report

NYSE · Consumer Discretionary · Hotels & Motels

Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacation properties. Hyatt Hotels & Resorts is one of the businesses managed by the Pritzker family. Hyatt has more than 1350 hotels and all-inclusive properties in 69 countries, across North America, South America, Europe, Asia, Africa and Australia.

Toast, Inc.TOSTEarnings & Financial Report

NYSE · Information Technology · Services-Computer Processing & Data Preparation

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.

H vs TOST — Head-to-Head

Bigger by revenue

1.1× larger

$1.8B

$1.6B

Growing faster (revenue YoY)

TOST

+10.4% gap

22.0%

11.7%

Higher net margin

TOST

7.3% more per $

6.2%

-1.1%

More free cash flow

$58.0M more FCF

$236.0M

$178.0M

Faster 2-yr revenue CAGR

TOST

Annualised

23.3%

2.2%

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric	H	TOST
Revenue	$1.8B	$1.6B
Net Profit	$-20.0M	$101.0M
Gross Margin	—	25.9%
Operating Margin	0.4%	5.2%
Net Margin	-1.1%	6.2%
Revenue YoY	11.7%	22.0%
Net Profit YoY	64.3%	215.6%
EPS (diluted)	$-0.20	$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.

Revenue

TOST

Q4 25	$1.8B	$1.6B
Q3 25	$1.8B	$1.6B
Q2 25	$1.8B	$1.6B
Q1 25	$1.7B	$1.3B
Q4 24	$1.6B	$1.3B
Q3 24	$1.6B	$1.3B
Q2 24	$1.7B	$1.2B
Q1 24	$1.7B	$1.1B

Net Profit

TOST

Q4 25	$-20.0M	$101.0M
Q3 25	$-49.0M	$105.0M
Q2 25	$-3.0M	$80.0M
Q1 25	$20.0M	$56.0M
Q4 24	$-56.0M	$32.0M
Q3 24	$471.0M	$56.0M
Q2 24	$359.0M	$14.0M
Q1 24	$522.0M	$-83.0M

Gross Margin

TOST

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%

Operating Margin

TOST

Q4 25	0.4%	5.2%
Q3 25	-1.0%	5.1%
Q2 25	2.1%	5.2%
Q1 25	3.0%	3.2%
Q4 24	-3.0%	2.5%
Q3 24	37.3%	2.6%
Q2 24	27.1%	0.4%
Q1 24	31.6%	-5.2%

Net Margin

TOST

Q4 25	-1.1%	6.2%
Q3 25	-2.7%	6.4%
Q2 25	-0.2%	5.2%
Q1 25	1.2%	4.2%
Q4 24	-3.5%	2.4%
Q3 24	28.9%	4.3%
Q2 24	21.1%	1.1%
Q1 24	30.5%	-7.7%

EPS (diluted)

TOST

Q4 25	$-0.20	$0.18
Q3 25	$-0.51	$0.16
Q2 25	$-0.03	$0.13
Q1 25	$0.19	$0.09
Q4 24	$-0.37	$0.09
Q3 24	$4.63	$0.07
Q2 24	$3.46	$0.02
Q1 24	$4.93	$-0.15

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	H	TOST
Cash + ST InvestmentsLiquidity on hand	$813.0M	$1.4B
Total DebtLower is stronger	—	—
Stockholders' EquityBook value	$3.3B	$2.1B
Total Assets	$14.0B	$3.1B
Debt / EquityLower = less leverage	—	—

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

TOST

Q4 25	$813.0M	$1.4B
Q3 25	$749.0M	$1.4B
Q2 25	$912.0M	$1.2B
Q1 25	$1.8B	$1.0B
Q4 24	$1.4B	$903.0M
Q3 24	$1.1B	$761.0M
Q2 24	$2.0B	$691.0M
Q1 24	$794.0M	$578.0M

Total Debt

TOST

Q4 25	—	—
Q3 25	$6.0B	—
Q2 25	$6.0B	—
Q1 25	$4.3B	—
Q4 24	$3.8B	—
Q3 24	$3.1B	—
Q2 24	$3.9B	—
Q1 24	$3.1B	—

Stockholders' Equity

TOST

Q4 25	$3.3B	$2.1B
Q3 25	$3.5B	$2.0B
Q2 25	$3.6B	$1.8B
Q1 25	$3.5B	$1.7B
Q4 24	$3.5B	$1.5B
Q3 24	$3.7B	$1.4B
Q2 24	$3.9B	$1.3B
Q1 24	$3.7B	$1.2B

Total Assets

TOST

Q4 25	$14.0B	$3.1B
Q3 25	$15.7B	$3.0B
Q2 25	$15.9B	$2.8B
Q1 25	$14.0B	$2.6B
Q4 24	$13.3B	$2.4B
Q3 24	$11.9B	$2.2B
Q2 24	$12.8B	$2.2B
Q1 24	$11.7B	$2.1B

Debt / Equity

TOST

Q4 25	—	—
Q3 25	1.73×	—
Q2 25	1.69×	—
Q1 25	1.25×	—
Q4 24	1.07×	—
Q3 24	0.85×	—
Q2 24	1.01×	—
Q1 24	0.84×	—

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	H	TOST
Operating Cash FlowLast quarter	$313.0M	$194.0M
Free Cash FlowOCF − Capex	$236.0M	$178.0M
FCF MarginFCF / Revenue	13.2%	10.9%
Capex IntensityCapex / Revenue	4.3%	1.0%
Cash ConversionOCF / Net Profit	—	1.92×
TTM Free Cash FlowTrailing 4 quarters	$159.0M	$608.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow

TOST

Q4 25	$313.0M	$194.0M
Q3 25	$-20.0M	$165.0M
Q2 25	$-67.0M	$223.0M
Q1 25	$153.0M	$79.0M
Q4 24	$235.0M	$147.0M
Q3 24	$-21.0M	$109.0M
Q2 24	$177.0M	$124.0M
Q1 24	$242.0M	$-20.0M

Free Cash Flow

TOST

Q4 25	$236.0M	$178.0M
Q3 25	$-89.0M	$153.0M
Q2 25	$-111.0M	$208.0M
Q1 25	$123.0M	$69.0M
Q4 24	$184.0M	$134.0M
Q3 24	$-64.0M	$97.0M
Q2 24	$135.0M	$108.0M
Q1 24	$208.0M	$-33.0M

FCF Margin

TOST

Q4 25	13.2%	10.9%
Q3 25	-5.0%	9.4%
Q2 25	-6.1%	13.4%
Q1 25	7.2%	5.2%
Q4 24	11.5%	10.0%
Q3 24	-3.9%	7.4%
Q2 24	7.9%	8.7%
Q1 24	12.1%	-3.1%

Capex Intensity

TOST

Q4 25	4.3%	1.0%
Q3 25	3.9%	0.7%
Q2 25	2.4%	1.0%
Q1 25	1.7%	0.7%
Q4 24	3.2%	1.0%
Q3 24	2.6%	0.9%
Q2 24	2.5%	1.3%
Q1 24	2.0%	1.2%

Cash Conversion

TOST

Q4 25	—	1.92×
Q3 25	—	1.57×
Q2 25	—	2.79×
Q1 25	7.65×	1.41×
Q4 24	—	4.59×
Q3 24	-0.04×	1.95×
Q2 24	0.49×	8.86×
Q1 24	0.46×	—

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

H

Other	$627.0M	35%
Rooms Revenue	$326.0M	18%
Net Fees	$290.0M	16%
Distribution Segment	$177.0M	10%
Franchise And Other Fees	$114.0M	6%
Base Management Fees	$112.0M	6%
Incentive Management Fees	$81.0M	5%
Other Owned And Leased Hotel Revenue	$41.0M	2%
Contra Revenue	$17.0M	1%
Other Revenues	$4.0M	0%