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Side-by-side financial comparison of HERTZ GLOBAL HOLDINGS, INC (HTZ) and Toast, Inc. (TOST). Click either name above to swap in a different company.
HERTZ GLOBAL HOLDINGS, INC is the larger business by last-quarter revenue ($2.0B vs $1.6B, roughly 1.2× Toast, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs -9.6%, a 15.8% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs -0.6%). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs -1.3%).
Hertz Global Holdings, Inc., known as Hertz, is an American car rental company based in Estero, Florida. The company operates its namesake Hertz brand, along with the brands Dollar Rent A Car, Firefly Car Rental, and Thrifty Car Rental.
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.
HTZ vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.6B |
| Net Profit | $-194.0M | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | -11.0% | 5.2% |
| Net Margin | -9.6% | 6.2% |
| Revenue YoY | -0.6% | 22.0% |
| Net Profit YoY | 59.5% | 215.6% |
| EPS (diluted) | $-0.46 | $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 | $2.0B | $1.6B | ||
| Q3 25 | $2.5B | $1.6B | ||
| Q2 25 | $2.2B | $1.6B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $2.0B | $1.3B | ||
| Q3 24 | $2.6B | $1.3B | ||
| Q2 24 | $2.4B | $1.2B | ||
| Q1 24 | $2.1B | $1.1B |
| Q4 25 | $-194.0M | $101.0M | ||
| Q3 25 | $184.0M | $105.0M | ||
| Q2 25 | $-294.0M | $80.0M | ||
| Q1 25 | $-443.0M | $56.0M | ||
| Q4 24 | $-479.0M | $32.0M | ||
| Q3 24 | $-1.3B | $56.0M | ||
| Q2 24 | $-865.0M | $14.0M | ||
| Q1 24 | $-186.0M | $-83.0M |
| 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% |
| Q4 25 | -11.0% | 5.2% | ||
| Q3 25 | 9.4% | 5.1% | ||
| Q2 25 | -14.5% | 5.2% | ||
| Q1 25 | -29.0% | 3.2% | ||
| Q4 24 | -27.6% | 2.5% | ||
| Q3 24 | -62.9% | 2.6% | ||
| Q2 24 | -20.1% | 0.4% | ||
| Q1 24 | -27.9% | -5.2% |
| Q4 25 | -9.6% | 6.2% | ||
| Q3 25 | 7.4% | 6.4% | ||
| Q2 25 | -13.5% | 5.2% | ||
| Q1 25 | -24.4% | 4.2% | ||
| Q4 24 | -23.5% | 2.4% | ||
| Q3 24 | -51.7% | 4.3% | ||
| Q2 24 | -36.8% | 1.1% | ||
| Q1 24 | -8.9% | -7.7% |
| Q4 25 | $-0.46 | $0.18 | ||
| Q3 25 | $0.42 | $0.16 | ||
| Q2 25 | $-0.95 | $0.13 | ||
| Q1 25 | $-1.44 | $0.09 | ||
| Q4 24 | $-1.57 | $0.09 | ||
| Q3 24 | $-4.34 | $0.07 | ||
| Q2 24 | $-2.82 | $0.02 | ||
| Q1 24 | $-0.61 | $-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 | $565.0M | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-459.0M | $2.1B |
| Total Assets | $22.3B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $565.0M | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $503.0M | $1.2B | ||
| Q1 25 | $626.0M | $1.0B | ||
| Q4 24 | $592.0M | $903.0M | ||
| Q3 24 | $501.0M | $761.0M | ||
| Q2 24 | $568.0M | $691.0M | ||
| Q1 24 | $465.0M | $578.0M |
| Q4 25 | $-459.0M | $2.1B | ||
| Q3 25 | $-317.0M | $2.0B | ||
| Q2 25 | $-504.0M | $1.8B | ||
| Q1 25 | $-262.0M | $1.7B | ||
| Q4 24 | $153.0M | $1.5B | ||
| Q3 24 | $681.0M | $1.4B | ||
| Q2 24 | $2.0B | $1.3B | ||
| Q1 24 | $2.8B | $1.2B |
| Q4 25 | $22.3B | $3.1B | ||
| Q3 25 | $23.0B | $3.0B | ||
| Q2 25 | $23.1B | $2.8B | ||
| Q1 25 | $22.0B | $2.6B | ||
| Q4 24 | $21.8B | $2.4B | ||
| Q3 24 | $23.0B | $2.2B | ||
| Q2 24 | $25.2B | $2.2B | ||
| Q1 24 | $24.3B | $2.1B |
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 | $193.0M | $194.0M |
| Free Cash FlowOCF − Capex | — | $178.0M |
| FCF MarginFCF / Revenue | — | 10.9% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $193.0M | $194.0M | ||
| Q3 25 | $835.0M | $165.0M | ||
| Q2 25 | $346.0M | $223.0M | ||
| Q1 25 | $251.0M | $79.0M | ||
| Q4 24 | $414.0M | $147.0M | ||
| Q3 24 | $894.0M | $109.0M | ||
| Q2 24 | $546.0M | $124.0M | ||
| Q1 24 | $370.0M | $-20.0M |
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $153.0M | ||
| Q2 25 | — | $208.0M | ||
| Q1 25 | — | $69.0M | ||
| Q4 24 | — | $134.0M | ||
| Q3 24 | — | $97.0M | ||
| Q2 24 | — | $108.0M | ||
| Q1 24 | — | $-33.0M |
| Q4 25 | — | 10.9% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | -3.1% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.2% |
| Q4 25 | — | 1.92× | ||
| Q3 25 | 4.54× | 1.57× | ||
| Q2 25 | — | 2.79× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | — | 8.86× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTZ
Segment breakdown not available.
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
