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Side-by-side financial comparison of Knight-Swift Transportation Holdings Inc. (KNX) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Knight-Swift Transportation Holdings Inc. is the larger business by last-quarter revenue ($1.9B vs $1.6B, roughly 1.1× Toast, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs 0.0%, a 6.2% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 1.4%). Toast, Inc. produced more free cash flow last quarter ($178.0M vs $56.9M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 0.1%).
Swift Transportation is an American truckload motor shipping carrier based in Phoenix, Arizona. In 2017, Swift merged with Knight Transportation, also of Phoenix, forming Knight-Swift.
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.
KNX vs TOST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.6B |
| Net Profit | $96.0K | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | 1.5% | 5.2% |
| Net Margin | 0.0% | 6.2% |
| Revenue YoY | 1.4% | 22.0% |
| Net Profit YoY | -76.6% | 215.6% |
| EPS (diluted) | $-0.01 | $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.
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.9B | $1.6B | ||
| Q3 25 | $1.9B | $1.6B | ||
| Q2 25 | $1.9B | $1.6B | ||
| Q1 25 | $1.8B | $1.3B | ||
| Q4 24 | $1.9B | $1.3B | ||
| Q3 24 | $1.9B | $1.3B | ||
| Q2 24 | $1.8B | $1.2B |
| Q1 26 | $96.0K | — | ||
| Q4 25 | $-6.8M | $101.0M | ||
| Q3 25 | $7.9M | $105.0M | ||
| Q2 25 | $34.2M | $80.0M | ||
| Q1 25 | $30.6M | $56.0M | ||
| Q4 24 | $69.5M | $32.0M | ||
| Q3 24 | $30.5M | $56.0M | ||
| Q2 24 | $20.3M | $14.0M |
| Q1 26 | — | — | ||
| 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 26 | 1.5% | — | ||
| Q4 25 | 1.4% | 5.2% | ||
| Q3 25 | 2.6% | 5.1% | ||
| Q2 25 | 3.9% | 5.2% | ||
| Q1 25 | 3.7% | 3.2% | ||
| Q4 24 | 4.2% | 2.5% | ||
| Q3 24 | 4.3% | 2.6% | ||
| Q2 24 | 3.4% | 0.4% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | -0.4% | 6.2% | ||
| Q3 25 | 0.4% | 6.4% | ||
| Q2 25 | 1.8% | 5.2% | ||
| Q1 25 | 1.7% | 4.2% | ||
| Q4 24 | 3.7% | 2.4% | ||
| Q3 24 | 1.6% | 4.3% | ||
| Q2 24 | 1.1% | 1.1% |
| Q1 26 | $-0.01 | — | ||
| Q4 25 | $-0.04 | $0.18 | ||
| Q3 25 | $0.05 | $0.16 | ||
| Q2 25 | $0.21 | $0.13 | ||
| Q1 25 | $0.19 | $0.09 | ||
| Q4 24 | $0.43 | $0.09 | ||
| Q3 24 | $0.19 | $0.07 | ||
| Q2 24 | $0.13 | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $222.8M | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $7.1B | $2.1B |
| Total Assets | $11.9B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $222.8M | — | ||
| Q4 25 | $220.4M | $1.4B | ||
| Q3 25 | $192.7M | $1.4B | ||
| Q2 25 | $216.3M | $1.2B | ||
| Q1 25 | $209.5M | $1.0B | ||
| Q4 24 | $218.3M | $903.0M | ||
| Q3 24 | $166.3M | $761.0M | ||
| Q2 24 | $186.5M | $691.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.6B | — |
| Q1 26 | $7.1B | — | ||
| Q4 25 | $7.1B | $2.1B | ||
| Q3 25 | $7.1B | $2.0B | ||
| Q2 25 | $7.1B | $1.8B | ||
| Q1 25 | $7.1B | $1.7B | ||
| Q4 24 | $7.1B | $1.5B | ||
| Q3 24 | $7.1B | $1.4B | ||
| Q2 24 | $7.1B | $1.3B |
| Q1 26 | $11.9B | — | ||
| Q4 25 | $12.0B | $3.1B | ||
| Q3 25 | $12.6B | $3.0B | ||
| Q2 25 | $12.5B | $2.8B | ||
| Q1 25 | $12.6B | $2.6B | ||
| Q4 24 | $12.7B | $2.4B | ||
| Q3 24 | $12.8B | $2.2B | ||
| Q2 24 | $12.6B | $2.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.25× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.26× | — | ||
| Q3 24 | 0.26× | — | ||
| Q2 24 | 0.23× | — |
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 | $142.5M | $194.0M |
| Free Cash FlowOCF − Capex | $56.9M | $178.0M |
| FCF MarginFCF / Revenue | 3.1% | 10.9% |
| Capex IntensityCapex / Revenue | 4.6% | 1.0% |
| Cash ConversionOCF / Net Profit | 1484.79× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $142.5M | — | ||
| Q4 25 | $723.2M | $194.0M | ||
| Q3 25 | $217.5M | $165.0M | ||
| Q2 25 | $216.5M | $223.0M | ||
| Q1 25 | $109.4M | $79.0M | ||
| Q4 24 | $274.3M | $147.0M | ||
| Q3 24 | $214.0M | $109.0M | ||
| Q2 24 | $273.4M | $124.0M |
| Q1 26 | $56.9M | — | ||
| 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 26 | 3.1% | — | ||
| 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 26 | 4.6% | — | ||
| 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 26 | 1484.79× | — | ||
| Q4 25 | — | 1.92× | ||
| Q3 25 | 27.67× | 1.57× | ||
| Q2 25 | 6.32× | 2.79× | ||
| Q1 25 | 3.57× | 1.41× | ||
| Q4 24 | 3.95× | 4.59× | ||
| Q3 24 | 7.03× | 1.95× | ||
| Q2 24 | 13.47× | 8.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KNX
| Revenue, excluding truckload and LTL fuel surcharge | $1.6B | 89% |
| Truckload and LTL fuel surcharge | $212.2M | 11% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
