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Side-by-side financial comparison of Invesco (IVZ) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Invesco is the larger business by last-quarter revenue ($1.7B vs $1.6B, roughly 1.0× Toast, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs -58.9%, a 65.0% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 6.2%). Invesco produced more free cash flow last quarter ($432.2M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 7.1%).
Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
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.
IVZ vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.7B | $1.6B |
| Net Profit | $-995.9M | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | -86.2% | 5.2% |
| Net Margin | -58.9% | 6.2% |
| Revenue YoY | 6.2% | 22.0% |
| Net Profit YoY | -575.8% | 215.6% |
| EPS (diluted) | $-2.61 | $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 | $1.7B | $1.6B | ||
| Q3 25 | $1.6B | $1.6B | ||
| Q2 25 | $1.5B | $1.6B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.5B | $1.1B |
| Q4 25 | $-995.9M | $101.0M | ||
| Q3 25 | $356.4M | $105.0M | ||
| Q2 25 | $197.4M | $80.0M | ||
| Q1 25 | $171.1M | $56.0M | ||
| Q4 24 | $209.3M | $32.0M | ||
| Q3 24 | $55.0M | $56.0M | ||
| Q2 24 | $132.2M | $14.0M | ||
| Q1 24 | $141.5M | $-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 | -86.2% | 5.2% | ||
| Q3 25 | 16.5% | 5.1% | ||
| Q2 25 | 14.1% | 5.2% | ||
| Q1 25 | 18.1% | 3.2% | ||
| Q4 24 | 19.6% | 2.5% | ||
| Q3 24 | 6.6% | 2.6% | ||
| Q2 24 | 13.9% | 0.4% | ||
| Q1 24 | 14.4% | -5.2% |
| Q4 25 | -58.9% | 6.2% | ||
| Q3 25 | 21.7% | 6.4% | ||
| Q2 25 | 13.0% | 5.2% | ||
| Q1 25 | 11.2% | 4.2% | ||
| Q4 24 | 13.1% | 2.4% | ||
| Q3 24 | 3.6% | 4.3% | ||
| Q2 24 | 8.9% | 1.1% | ||
| Q1 24 | 9.6% | -7.7% |
| Q4 25 | $-2.61 | $0.18 | ||
| Q3 25 | $0.66 | $0.16 | ||
| Q2 25 | $-0.03 | $0.13 | ||
| Q1 25 | $0.38 | $0.09 | ||
| Q4 24 | $0.46 | $0.09 | ||
| Q3 24 | $0.12 | $0.07 | ||
| Q2 24 | $0.29 | $0.02 | ||
| Q1 24 | $0.31 | $-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 | $1.0B | $1.4B |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $12.2B | $2.1B |
| Total Assets | $27.1B | $3.1B |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $1.4B | ||
| Q3 25 | $973.1M | $1.4B | ||
| Q2 25 | $922.7M | $1.2B | ||
| Q1 25 | $821.7M | $1.0B | ||
| Q4 24 | $986.5M | $903.0M | ||
| Q3 24 | $1.0B | $761.0M | ||
| Q2 24 | $878.5M | $691.0M | ||
| Q1 24 | $895.7M | $578.0M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $964.8M | — | ||
| Q4 24 | $890.6M | — | ||
| Q3 24 | $890.3M | — | ||
| Q2 24 | $890.1M | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $12.2B | $2.1B | ||
| Q3 25 | $14.0B | $2.0B | ||
| Q2 25 | $13.9B | $1.8B | ||
| Q1 25 | $14.7B | $1.7B | ||
| Q4 24 | $14.6B | $1.5B | ||
| Q3 24 | $14.8B | $1.4B | ||
| Q2 24 | $14.6B | $1.3B | ||
| Q1 24 | $14.6B | $1.2B |
| Q4 25 | $27.1B | $3.1B | ||
| Q3 25 | $28.4B | $3.0B | ||
| Q2 25 | $28.5B | $2.8B | ||
| Q1 25 | $28.1B | $2.6B | ||
| Q4 24 | $27.0B | $2.4B | ||
| Q3 24 | $27.5B | $2.2B | ||
| Q2 24 | $27.2B | $2.2B | ||
| Q1 24 | $28.1B | $2.1B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | 0.06× | — | ||
| Q3 24 | 0.06× | — | ||
| Q2 24 | 0.06× | — | ||
| Q1 24 | 0.09× | — |
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 | $455.8M | $194.0M |
| Free Cash FlowOCF − Capex | $432.2M | $178.0M |
| FCF MarginFCF / Revenue | 25.5% | 10.9% |
| Capex IntensityCapex / Revenue | 1.4% | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $1.4B | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $455.8M | $194.0M | ||
| Q3 25 | $606.2M | $165.0M | ||
| Q2 25 | $547.9M | $223.0M | ||
| Q1 25 | $-84.6M | $79.0M | ||
| Q4 24 | $316.9M | $147.0M | ||
| Q3 24 | $438.4M | $109.0M | ||
| Q2 24 | $489.1M | $124.0M | ||
| Q1 24 | $-54.4M | $-20.0M |
| Q4 25 | $432.2M | $178.0M | ||
| Q3 25 | $586.4M | $153.0M | ||
| Q2 25 | $530.4M | $208.0M | ||
| Q1 25 | $-108.0M | $69.0M | ||
| Q4 24 | $309.9M | $134.0M | ||
| Q3 24 | $410.0M | $97.0M | ||
| Q2 24 | $462.4M | $108.0M | ||
| Q1 24 | $-75.4M | $-33.0M |
| Q4 25 | 25.5% | 10.9% | ||
| Q3 25 | 35.7% | 9.4% | ||
| Q2 25 | 35.0% | 13.4% | ||
| Q1 25 | -7.1% | 5.2% | ||
| Q4 24 | 19.5% | 10.0% | ||
| Q3 24 | 27.1% | 7.4% | ||
| Q2 24 | 31.2% | 8.7% | ||
| Q1 24 | -5.1% | -3.1% |
| Q4 25 | 1.4% | 1.0% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 1.2% | 1.0% | ||
| Q1 25 | 1.5% | 0.7% | ||
| Q4 24 | 0.4% | 1.0% | ||
| Q3 24 | 1.9% | 0.9% | ||
| Q2 24 | 1.8% | 1.3% | ||
| Q1 24 | 1.4% | 1.2% |
| Q4 25 | — | 1.92× | ||
| Q3 25 | 1.70× | 1.57× | ||
| Q2 25 | 2.78× | 2.79× | ||
| Q1 25 | -0.49× | 1.41× | ||
| Q4 24 | 1.51× | 4.59× | ||
| Q3 24 | 7.97× | 1.95× | ||
| Q2 24 | 3.70× | 8.86× | ||
| Q1 24 | -0.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IVZ
| Investment Advice | $1.2B | 73% |
| Distribution And Shareholder Service | $382.7M | 23% |
| Financial Service Other | $51.0M | 3% |
| Investment Performance | $28.9M | 2% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
