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Side-by-side financial comparison of M/I HOMES, INC. (MHO) 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× M/I HOMES, INC.). Toast, Inc. runs the higher net margin — 6.2% vs 5.6%, a 0.6% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs -4.8%). Toast, Inc. produced more free cash flow last quarter ($178.0M vs $-13.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 4.7%).
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
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.
MHO vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.6B |
| Net Profit | $64.0M | $101.0M |
| Gross Margin | 17.4% | 25.9% |
| Operating Margin | 6.5% | 5.2% |
| Net Margin | 5.6% | 6.2% |
| Revenue YoY | -4.8% | 22.0% |
| Net Profit YoY | -52.1% | 215.6% |
| EPS (diluted) | $2.42 | $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 | $1.1B | $1.6B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $976.1M | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.0B | $1.1B |
| Q4 25 | $64.0M | $101.0M | ||
| Q3 25 | $106.5M | $105.0M | ||
| Q2 25 | $121.2M | $80.0M | ||
| Q1 25 | $111.2M | $56.0M | ||
| Q4 24 | $133.5M | $32.0M | ||
| Q3 24 | $145.4M | $56.0M | ||
| Q2 24 | $146.7M | $14.0M | ||
| Q1 24 | $138.1M | $-83.0M |
| Q4 25 | 17.4% | 25.9% | ||
| Q3 25 | 24.5% | 26.5% | ||
| Q2 25 | 24.7% | 25.3% | ||
| Q1 25 | 25.9% | 25.9% | ||
| Q4 24 | 24.6% | 24.9% | ||
| Q3 24 | 27.1% | 24.7% | ||
| Q2 24 | 27.9% | 23.0% | ||
| Q1 24 | 27.1% | 23.2% |
| Q4 25 | 6.5% | 5.2% | ||
| Q3 25 | 12.0% | 5.1% | ||
| Q2 25 | 13.4% | 5.2% | ||
| Q1 25 | 14.4% | 3.2% | ||
| Q4 24 | 13.6% | 2.5% | ||
| Q3 24 | 15.9% | 2.6% | ||
| Q2 24 | 16.8% | 0.4% | ||
| Q1 24 | 16.6% | -5.2% |
| Q4 25 | 5.6% | 6.2% | ||
| Q3 25 | 9.4% | 6.4% | ||
| Q2 25 | 10.4% | 5.2% | ||
| Q1 25 | 11.4% | 4.2% | ||
| Q4 24 | 11.1% | 2.4% | ||
| Q3 24 | 12.7% | 4.3% | ||
| Q2 24 | 13.2% | 1.1% | ||
| Q1 24 | 13.2% | -7.7% |
| Q4 25 | $2.42 | $0.18 | ||
| Q3 25 | $3.92 | $0.16 | ||
| Q2 25 | $4.42 | $0.13 | ||
| Q1 25 | $3.98 | $0.09 | ||
| Q4 24 | $4.71 | $0.09 | ||
| Q3 24 | $5.10 | $0.07 | ||
| Q2 24 | $5.12 | $0.02 | ||
| Q1 24 | $4.78 | $-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 | $3.2B | $2.1B |
| Total Assets | $4.8B | $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 | — | $903.0M | ||
| Q3 24 | — | $761.0M | ||
| Q2 24 | — | $691.0M | ||
| Q1 24 | — | $578.0M |
| Q4 25 | $3.2B | $2.1B | ||
| Q3 25 | $3.1B | $2.0B | ||
| Q2 25 | $3.1B | $1.8B | ||
| Q1 25 | $3.0B | $1.7B | ||
| Q4 24 | $2.9B | $1.5B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $2.7B | $1.3B | ||
| Q1 24 | $2.6B | $1.2B |
| Q4 25 | $4.8B | $3.1B | ||
| Q3 25 | $4.8B | $3.0B | ||
| Q2 25 | $4.7B | $2.8B | ||
| Q1 25 | $4.6B | $2.6B | ||
| Q4 24 | $4.5B | $2.4B | ||
| Q3 24 | $4.5B | $2.2B | ||
| Q2 24 | $4.3B | $2.2B | ||
| Q1 24 | $4.2B | $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 | $-8.7M | $194.0M |
| Free Cash FlowOCF − Capex | $-13.0M | $178.0M |
| FCF MarginFCF / Revenue | -1.1% | 10.9% |
| Capex IntensityCapex / Revenue | 0.4% | 1.0% |
| Cash ConversionOCF / Net Profit | -0.14× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $127.7M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $194.0M | ||
| Q3 25 | $43.4M | $165.0M | ||
| Q2 25 | $37.8M | $223.0M | ||
| Q1 25 | $64.9M | $79.0M | ||
| Q4 24 | $104.4M | $147.0M | ||
| Q3 24 | $-67.9M | $109.0M | ||
| Q2 24 | $27.5M | $124.0M | ||
| Q1 24 | $115.8M | $-20.0M |
| Q4 25 | $-13.0M | $178.0M | ||
| Q3 25 | $42.0M | $153.0M | ||
| Q2 25 | $35.1M | $208.0M | ||
| Q1 25 | $63.5M | $69.0M | ||
| Q4 24 | $102.3M | $134.0M | ||
| Q3 24 | $-68.5M | $97.0M | ||
| Q2 24 | $22.0M | $108.0M | ||
| Q1 24 | $115.5M | $-33.0M |
| Q4 25 | -1.1% | 10.9% | ||
| Q3 25 | 3.7% | 9.4% | ||
| Q2 25 | 3.0% | 13.4% | ||
| Q1 25 | 6.5% | 5.2% | ||
| Q4 24 | 8.5% | 10.0% | ||
| Q3 24 | -6.0% | 7.4% | ||
| Q2 24 | 2.0% | 8.7% | ||
| Q1 24 | 11.0% | -3.1% |
| Q4 25 | 0.4% | 1.0% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.2% | 1.0% | ||
| Q1 25 | 0.1% | 0.7% | ||
| Q4 24 | 0.2% | 1.0% | ||
| Q3 24 | 0.1% | 0.9% | ||
| Q2 24 | 0.5% | 1.3% | ||
| Q1 24 | 0.0% | 1.2% |
| Q4 25 | -0.14× | 1.92× | ||
| Q3 25 | 0.41× | 1.57× | ||
| Q2 25 | 0.31× | 2.79× | ||
| Q1 25 | 0.58× | 1.41× | ||
| Q4 24 | 0.78× | 4.59× | ||
| Q3 24 | -0.47× | 1.95× | ||
| Q2 24 | 0.19× | 8.86× | ||
| Q1 24 | 0.84× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
