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Side-by-side financial comparison of JANUS HENDERSON GROUP PLC (JHG) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.1B, roughly 1.4× JANUS HENDERSON GROUP PLC). JANUS HENDERSON GROUP PLC runs the higher net margin — 35.3% vs 6.2%, a 29.1% gap on every dollar of revenue. On growth, JANUS HENDERSON GROUP PLC posted the faster year-over-year revenue change (61.3% vs 22.0%). JANUS HENDERSON GROUP PLC produced more free cash flow last quarter ($320.4M vs $178.0M). Over the past eight quarters, JANUS HENDERSON GROUP PLC's revenue compounded faster (43.9% CAGR vs 23.3%).
Janus Henderson is a British-American global asset management group headquartered in the City of London, United Kingdom. It offers a range of financial products to individuals, intermediary advisors, and institutional investors globally under the trade name Janus Henderson Investors.
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.
JHG vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.6B |
| Net Profit | $403.2M | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | 42.7% | 5.2% |
| Net Margin | 35.3% | 6.2% |
| Revenue YoY | 61.3% | 22.0% |
| Net Profit YoY | 231.0% | 215.6% |
| EPS (diluted) | $2.59 | $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 | $1.1B | $1.6B | ||
| Q3 25 | $700.4M | $1.6B | ||
| Q2 25 | $633.2M | $1.6B | ||
| Q1 25 | $621.4M | $1.3B | ||
| Q4 24 | $708.3M | $1.3B | ||
| Q3 24 | $624.8M | $1.3B | ||
| Q2 24 | $588.4M | $1.2B | ||
| Q1 24 | $551.7M | $1.1B |
| Q4 25 | $403.2M | $101.0M | ||
| Q3 25 | $142.1M | $105.0M | ||
| Q2 25 | $149.9M | $80.0M | ||
| Q1 25 | $120.7M | $56.0M | ||
| Q4 24 | $121.8M | $32.0M | ||
| Q3 24 | $27.3M | $56.0M | ||
| Q2 24 | $129.7M | $14.0M | ||
| Q1 24 | $130.1M | $-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 | 42.7% | 5.2% | ||
| Q3 25 | 24.6% | 5.1% | ||
| Q2 25 | 25.9% | 5.2% | ||
| Q1 25 | 24.7% | 3.2% | ||
| Q4 24 | 27.9% | 2.5% | ||
| Q3 24 | 26.4% | 2.6% | ||
| Q2 24 | 27.9% | 0.4% | ||
| Q1 24 | 21.6% | -5.2% |
| Q4 25 | 35.3% | 6.2% | ||
| Q3 25 | 20.3% | 6.4% | ||
| Q2 25 | 23.7% | 5.2% | ||
| Q1 25 | 19.4% | 4.2% | ||
| Q4 24 | 17.2% | 2.4% | ||
| Q3 24 | 4.4% | 4.3% | ||
| Q2 24 | 22.0% | 1.1% | ||
| Q1 24 | 23.6% | -7.7% |
| Q4 25 | $2.59 | $0.18 | ||
| Q3 25 | $0.92 | $0.16 | ||
| Q2 25 | $0.95 | $0.13 | ||
| Q1 25 | $0.77 | $0.09 | ||
| Q4 24 | $0.77 | $0.09 | ||
| Q3 24 | $0.17 | $0.07 | ||
| Q2 24 | $0.81 | $0.02 | ||
| Q1 24 | $0.81 | $-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 | $1.6B | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.1B | $2.1B |
| Total Assets | $8.3B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $1.4B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.6B | $903.0M | ||
| Q3 24 | $1.8B | $761.0M | ||
| Q2 24 | $1.3B | $691.0M | ||
| Q1 24 | $1.1B | $578.0M |
| Q4 25 | $5.1B | $2.1B | ||
| Q3 25 | $4.8B | $2.0B | ||
| Q2 25 | $4.8B | $1.8B | ||
| Q1 25 | $4.7B | $1.7B | ||
| Q4 24 | $4.6B | $1.5B | ||
| Q3 24 | $4.6B | $1.4B | ||
| Q2 24 | $4.5B | $1.3B | ||
| Q1 24 | $4.4B | $1.2B |
| Q4 25 | $8.3B | $3.1B | ||
| Q3 25 | $7.6B | $3.0B | ||
| Q2 25 | $7.5B | $2.8B | ||
| Q1 25 | $7.1B | $2.6B | ||
| Q4 24 | $7.0B | $2.4B | ||
| Q3 24 | $7.3B | $2.2B | ||
| Q2 24 | $6.4B | $2.2B | ||
| Q1 24 | $6.3B | $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 | $322.7M | $194.0M |
| Free Cash FlowOCF − Capex | $320.4M | $178.0M |
| FCF MarginFCF / Revenue | 28.0% | 10.9% |
| Capex IntensityCapex / Revenue | 0.2% | 1.0% |
| Cash ConversionOCF / Net Profit | 0.80× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $710.9M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $322.7M | $194.0M | ||
| Q3 25 | $258.8M | $165.0M | ||
| Q2 25 | $135.2M | $223.0M | ||
| Q1 25 | $2.8M | $79.0M | ||
| Q4 24 | $247.3M | $147.0M | ||
| Q3 24 | $228.5M | $109.0M | ||
| Q2 24 | $223.8M | $124.0M | ||
| Q1 24 | $-5.0M | $-20.0M |
| Q4 25 | $320.4M | $178.0M | ||
| Q3 25 | $256.4M | $153.0M | ||
| Q2 25 | $133.2M | $208.0M | ||
| Q1 25 | $900.0K | $69.0M | ||
| Q4 24 | $243.5M | $134.0M | ||
| Q3 24 | $225.9M | $97.0M | ||
| Q2 24 | $221.9M | $108.0M | ||
| Q1 24 | $-6.8M | $-33.0M |
| Q4 25 | 28.0% | 10.9% | ||
| Q3 25 | 36.6% | 9.4% | ||
| Q2 25 | 21.0% | 13.4% | ||
| Q1 25 | 0.1% | 5.2% | ||
| Q4 24 | 34.4% | 10.0% | ||
| Q3 24 | 36.2% | 7.4% | ||
| Q2 24 | 37.7% | 8.7% | ||
| Q1 24 | -1.2% | -3.1% |
| Q4 25 | 0.2% | 1.0% | ||
| Q3 25 | 0.3% | 0.7% | ||
| Q2 25 | 0.3% | 1.0% | ||
| Q1 25 | 0.3% | 0.7% | ||
| Q4 24 | 0.5% | 1.0% | ||
| Q3 24 | 0.4% | 0.9% | ||
| Q2 24 | 0.3% | 1.3% | ||
| Q1 24 | 0.3% | 1.2% |
| Q4 25 | 0.80× | 1.92× | ||
| Q3 25 | 1.82× | 1.57× | ||
| Q2 25 | 0.90× | 2.79× | ||
| Q1 25 | 0.02× | 1.41× | ||
| Q4 24 | 2.03× | 4.59× | ||
| Q3 24 | 8.37× | 1.95× | ||
| Q2 24 | 1.73× | 8.86× | ||
| Q1 24 | -0.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JHG
| Investment Advice | $585.2M | 51% |
| Investment Performance | $425.8M | 37% |
| Other | $76.4M | 7% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
