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Side-by-side financial comparison of KeyCorp (KEY) and Toast, Inc. (TOST). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($2.0B vs $1.6B, roughly 1.2× Toast, Inc.). KeyCorp runs the higher net margin — 25.4% vs 6.2%, a 19.3% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 22.0%). KeyCorp produced more free cash flow last quarter ($2.1B vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 14.4%).
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
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.
KEY vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.6B |
| Net Profit | $510.0M | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | 32.3% | 5.2% |
| Net Margin | 25.4% | 6.2% |
| Revenue YoY | 131.8% | 22.0% |
| Net Profit YoY | 309.0% | 215.6% |
| EPS (diluted) | $0.43 | $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 | $1.9B | $1.6B | ||
| Q2 25 | $1.8B | $1.6B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $865.0M | $1.3B | ||
| Q3 24 | $695.0M | $1.3B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.5B | $1.1B |
| Q4 25 | $510.0M | $101.0M | ||
| Q3 25 | $489.0M | $105.0M | ||
| Q2 25 | $425.0M | $80.0M | ||
| Q1 25 | $405.0M | $56.0M | ||
| Q4 24 | $-244.0M | $32.0M | ||
| Q3 24 | $-410.0M | $56.0M | ||
| Q2 24 | $274.0M | $14.0M | ||
| Q1 24 | $219.0M | $-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 | 32.3% | 5.2% | ||
| Q3 25 | 31.8% | 5.1% | ||
| Q2 25 | 29.3% | 5.2% | ||
| Q1 25 | 29.0% | 3.2% | ||
| Q4 24 | -92.6% | 2.5% | ||
| Q3 24 | -72.8% | 2.6% | ||
| Q2 24 | 22.0% | 0.4% | ||
| Q1 24 | 18.1% | -5.2% |
| Q4 25 | 25.4% | 6.2% | ||
| Q3 25 | 25.8% | 6.4% | ||
| Q2 25 | 23.1% | 5.2% | ||
| Q1 25 | 22.8% | 4.2% | ||
| Q4 24 | -54.7% | 2.4% | ||
| Q3 24 | -59.0% | 4.3% | ||
| Q2 24 | 18.0% | 1.1% | ||
| Q1 24 | 14.3% | -7.7% |
| Q4 25 | $0.43 | $0.18 | ||
| Q3 25 | $0.41 | $0.16 | ||
| Q2 25 | $0.35 | $0.13 | ||
| Q1 25 | $0.33 | $0.09 | ||
| Q4 24 | $-0.30 | $0.09 | ||
| Q3 24 | $-0.47 | $0.07 | ||
| Q2 24 | $0.25 | $0.02 | ||
| Q1 24 | $0.20 | $-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 | $10.2B | $1.4B |
| Total DebtLower is stronger | $9.9B | — |
| Stockholders' EquityBook value | $20.4B | $2.1B |
| Total Assets | $184.4B | $3.1B |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2B | $1.4B | ||
| Q3 25 | $13.3B | $1.4B | ||
| Q2 25 | $11.6B | $1.2B | ||
| Q1 25 | $15.3B | $1.0B | ||
| Q4 24 | $17.5B | $903.0M | ||
| Q3 24 | $22.8B | $761.0M | ||
| Q2 24 | $15.5B | $691.0M | ||
| Q1 24 | $13.2B | $578.0M |
| Q4 25 | $9.9B | — | ||
| Q3 25 | $10.9B | — | ||
| Q2 25 | $12.1B | — | ||
| Q1 25 | $12.4B | — | ||
| Q4 24 | $12.1B | — | ||
| Q3 24 | $15.7B | — | ||
| Q2 24 | $16.9B | — | ||
| Q1 24 | $20.8B | — |
| Q4 25 | $20.4B | $2.1B | ||
| Q3 25 | $20.1B | $2.0B | ||
| Q2 25 | $19.5B | $1.8B | ||
| Q1 25 | $19.0B | $1.7B | ||
| Q4 24 | $18.2B | $1.5B | ||
| Q3 24 | $16.9B | $1.4B | ||
| Q2 24 | $14.8B | $1.3B | ||
| Q1 24 | $14.5B | $1.2B |
| Q4 25 | $184.4B | $3.1B | ||
| Q3 25 | $187.4B | $3.0B | ||
| Q2 25 | $185.5B | $2.8B | ||
| Q1 25 | $188.7B | $2.6B | ||
| Q4 24 | $187.2B | $2.4B | ||
| Q3 24 | $189.8B | $2.2B | ||
| Q2 24 | $187.4B | $2.2B | ||
| Q1 24 | $187.5B | $2.1B |
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | 0.93× | — | ||
| Q2 24 | 1.14× | — | ||
| Q1 24 | 1.43× | — |
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 | $2.2B | $194.0M |
| Free Cash FlowOCF − Capex | $2.1B | $178.0M |
| FCF MarginFCF / Revenue | 104.8% | 10.9% |
| Capex IntensityCapex / Revenue | 5.3% | 1.0% |
| Cash ConversionOCF / Net Profit | 4.33× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $3.5B | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2B | $194.0M | ||
| Q3 25 | $396.0M | $165.0M | ||
| Q2 25 | $1.2B | $223.0M | ||
| Q1 25 | $-140.0M | $79.0M | ||
| Q4 24 | $664.0M | $147.0M | ||
| Q3 24 | $-1.2B | $109.0M | ||
| Q2 24 | $-217.0M | $124.0M | ||
| Q1 24 | $359.0M | $-20.0M |
| Q4 25 | $2.1B | $178.0M | ||
| Q3 25 | $367.0M | $153.0M | ||
| Q2 25 | $1.2B | $208.0M | ||
| Q1 25 | $-150.0M | $69.0M | ||
| Q4 24 | $599.0M | $134.0M | ||
| Q3 24 | $-1.2B | $97.0M | ||
| Q2 24 | $-230.0M | $108.0M | ||
| Q1 24 | $347.0M | $-33.0M |
| Q4 25 | 104.8% | 10.9% | ||
| Q3 25 | 19.4% | 9.4% | ||
| Q2 25 | 65.8% | 13.4% | ||
| Q1 25 | -8.5% | 5.2% | ||
| Q4 24 | 69.2% | 10.0% | ||
| Q3 24 | -175.8% | 7.4% | ||
| Q2 24 | -15.1% | 8.7% | ||
| Q1 24 | 22.6% | -3.1% |
| Q4 25 | 5.3% | 1.0% | ||
| Q3 25 | 1.5% | 0.7% | ||
| Q2 25 | 1.3% | 1.0% | ||
| Q1 25 | 0.6% | 0.7% | ||
| Q4 24 | 7.5% | 1.0% | ||
| Q3 24 | 2.4% | 0.9% | ||
| Q2 24 | 0.9% | 1.3% | ||
| Q1 24 | 0.8% | 1.2% |
| Q4 25 | 4.33× | 1.92× | ||
| Q3 25 | 0.81× | 1.57× | ||
| Q2 25 | 2.90× | 2.79× | ||
| Q1 25 | -0.35× | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | -0.79× | 8.86× | ||
| Q1 24 | 1.64× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KEY
Segment breakdown not available.
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
