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Side-by-side financial comparison of Lineage, Inc. (LINE) 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 $1.4B, roughly 1.2× Lineage, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs -7.3%, a 13.4% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 3.1%). Toast, Inc. produced more free cash flow last quarter ($178.0M vs $35.0M).
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
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.
LINE vs TOST — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.6B |
| Net Profit | $-100.0M | $101.0M |
| Gross Margin | 32.3% | 25.9% |
| Operating Margin | 2.5% | 5.2% |
| Net Margin | -7.3% | 6.2% |
| Revenue YoY | 3.1% | 22.0% |
| Net Profit YoY | 79.4% | 215.6% |
| EPS (diluted) | $-0.44 | $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 | — | $1.6B | ||
| Q3 25 | $1.4B | $1.6B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | $1.3B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.1B |
| Q4 25 | — | $101.0M | ||
| Q3 25 | $-100.0M | $105.0M | ||
| Q2 25 | $-6.0M | $80.0M | ||
| Q1 25 | $0 | $56.0M | ||
| Q4 24 | $-71.0M | $32.0M | ||
| Q3 24 | $-485.0M | $56.0M | ||
| Q2 24 | $-68.0M | $14.0M | ||
| Q1 24 | $-40.0M | $-83.0M |
| Q4 25 | — | 25.9% | ||
| Q3 25 | 32.3% | 26.5% | ||
| Q2 25 | 31.9% | 25.3% | ||
| Q1 25 | 32.2% | 25.9% | ||
| Q4 24 | 32.3% | 24.9% | ||
| Q3 24 | 32.8% | 24.7% | ||
| Q2 24 | 33.4% | 23.0% | ||
| Q1 24 | 33.4% | 23.2% |
| Q4 25 | — | 5.2% | ||
| Q3 25 | 2.5% | 5.1% | ||
| Q2 25 | 1.7% | 5.2% | ||
| Q1 25 | 4.3% | 3.2% | ||
| Q4 24 | -1.6% | 2.5% | ||
| Q3 24 | -38.6% | 2.6% | ||
| Q2 24 | 5.5% | 0.4% | ||
| Q1 24 | 7.6% | -5.2% |
| Q4 25 | — | 6.2% | ||
| Q3 25 | -7.3% | 6.4% | ||
| Q2 25 | -0.4% | 5.2% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | -5.3% | 2.4% | ||
| Q3 24 | -36.3% | 4.3% | ||
| Q2 24 | -5.1% | 1.1% | ||
| Q1 24 | -3.0% | -7.7% |
| Q4 25 | — | $0.18 | ||
| Q3 25 | $-0.44 | $0.16 | ||
| Q2 25 | $-0.03 | $0.13 | ||
| Q1 25 | $0.01 | $0.09 | ||
| Q4 24 | $-0.52 | $0.09 | ||
| Q3 24 | $-2.44 | $0.07 | ||
| Q2 24 | $-0.46 | $0.02 | ||
| Q1 24 | $-0.28 | $-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 | — | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.4B | $2.1B |
| Total Assets | $19.2B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | $173.0M | $903.0M | ||
| Q3 24 | $409.0M | $761.0M | ||
| Q2 24 | $73.0M | $691.0M | ||
| Q1 24 | — | $578.0M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | $8.4B | $2.0B | ||
| Q2 25 | $8.6B | $1.8B | ||
| Q1 25 | $8.6B | $1.7B | ||
| Q4 24 | $8.6B | $1.5B | ||
| Q3 24 | $9.0B | $1.4B | ||
| Q2 24 | $4.9B | $1.3B | ||
| Q1 24 | $5.6B | $1.2B |
| Q4 25 | — | $3.1B | ||
| Q3 25 | $19.2B | $3.0B | ||
| Q2 25 | $19.4B | $2.8B | ||
| Q1 25 | $18.8B | $2.6B | ||
| Q4 24 | $18.7B | $2.4B | ||
| Q3 24 | $19.3B | $2.2B | ||
| Q2 24 | $18.8B | $2.2B | ||
| Q1 24 | — | $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 | $230.0M | $194.0M |
| Free Cash FlowOCF − Capex | $35.0M | $178.0M |
| FCF MarginFCF / Revenue | 2.5% | 10.9% |
| Capex IntensityCapex / Revenue | 14.2% | 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 | — | $194.0M | ||
| Q3 25 | $230.0M | $165.0M | ||
| Q2 25 | $258.0M | $223.0M | ||
| Q1 25 | $139.0M | $79.0M | ||
| Q4 24 | — | $147.0M | ||
| Q3 24 | $186.0M | $109.0M | ||
| Q2 24 | $155.0M | $124.0M | ||
| Q1 24 | $105.0M | $-20.0M |
| Q4 25 | — | $178.0M | ||
| Q3 25 | $35.0M | $153.0M | ||
| Q2 25 | $95.0M | $208.0M | ||
| Q1 25 | $-12.0M | $69.0M | ||
| Q4 24 | — | $134.0M | ||
| Q3 24 | $33.0M | $97.0M | ||
| Q2 24 | $-31.0M | $108.0M | ||
| Q1 24 | $-42.0M | $-33.0M |
| Q4 25 | — | 10.9% | ||
| Q3 25 | 2.5% | 9.4% | ||
| Q2 25 | 7.0% | 13.4% | ||
| Q1 25 | -0.9% | 5.2% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | 2.5% | 7.4% | ||
| Q2 24 | -2.3% | 8.7% | ||
| Q1 24 | -3.2% | -3.1% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | 14.2% | 0.7% | ||
| Q2 25 | 12.1% | 1.0% | ||
| Q1 25 | 11.7% | 0.7% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | 11.5% | 0.9% | ||
| Q2 24 | 13.9% | 1.3% | ||
| Q1 24 | 11.1% | 1.2% |
| Q4 25 | — | 1.92× | ||
| Q3 25 | — | 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
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
