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Side-by-side financial comparison of NCR Atleos Corp (NATL) 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 $1.2B, roughly 1.4× NCR Atleos Corp). NCR Atleos Corp runs the higher net margin — 7.2% vs 6.2%, a 1.0% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 4.0%). NCR Atleos Corp produced more free cash flow last quarter ($194.0M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 4.9%).
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
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.
NATL vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.6B |
| Net Profit | $83.0M | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | 13.5% | 5.2% |
| Net Margin | 7.2% | 6.2% |
| Revenue YoY | 4.0% | 22.0% |
| Net Profit YoY | 102.4% | 215.6% |
| EPS (diluted) | $1.09 | $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 | $1.2B | $1.6B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $979.0M | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $1.0B | $1.1B |
| Q4 25 | $83.0M | $101.0M | ||
| Q3 25 | $26.0M | $105.0M | ||
| Q2 25 | $39.0M | $80.0M | ||
| Q1 25 | $14.0M | $56.0M | ||
| Q4 24 | $41.0M | $32.0M | ||
| Q3 24 | $21.0M | $56.0M | ||
| Q2 24 | $27.0M | $14.0M | ||
| Q1 24 | $-9.0M | $-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 | 13.5% | 5.2% | ||
| Q3 25 | 9.8% | 5.1% | ||
| Q2 25 | 10.8% | 5.2% | ||
| Q1 25 | 9.5% | 3.2% | ||
| Q4 24 | 13.4% | 2.5% | ||
| Q3 24 | 10.6% | 2.6% | ||
| Q2 24 | 9.8% | 0.4% | ||
| Q1 24 | 6.5% | -5.2% |
| Q4 25 | 7.2% | 6.2% | ||
| Q3 25 | 2.3% | 6.4% | ||
| Q2 25 | 3.5% | 5.2% | ||
| Q1 25 | 1.4% | 4.2% | ||
| Q4 24 | 3.7% | 2.4% | ||
| Q3 24 | 2.0% | 4.3% | ||
| Q2 24 | 2.5% | 1.1% | ||
| Q1 24 | -0.9% | -7.7% |
| Q4 25 | $1.09 | $0.18 | ||
| Q3 25 | $0.34 | $0.16 | ||
| Q2 25 | $0.52 | $0.13 | ||
| Q1 25 | $0.19 | $0.09 | ||
| Q4 24 | $0.56 | $0.09 | ||
| Q3 24 | $0.28 | $0.07 | ||
| Q2 24 | $0.37 | $0.02 | ||
| Q1 24 | $-0.13 | $-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 | $456.0M | $1.4B |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $403.0M | $2.1B |
| Total Assets | $5.7B | $3.1B |
| Debt / EquityLower = less leverage | 6.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $456.0M | $1.4B | ||
| Q3 25 | $412.0M | $1.4B | ||
| Q2 25 | $357.0M | $1.2B | ||
| Q1 25 | $352.0M | $1.0B | ||
| Q4 24 | $419.0M | $903.0M | ||
| Q3 24 | $395.0M | $761.0M | ||
| Q2 24 | $374.0M | $691.0M | ||
| Q1 24 | $343.0M | $578.0M |
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $403.0M | $2.1B | ||
| Q3 25 | $330.0M | $2.0B | ||
| Q2 25 | $350.0M | $1.8B | ||
| Q1 25 | $275.0M | $1.7B | ||
| Q4 24 | $219.0M | $1.5B | ||
| Q3 24 | $264.0M | $1.4B | ||
| Q2 24 | $250.0M | $1.3B | ||
| Q1 24 | $283.0M | $1.2B |
| Q4 25 | $5.7B | $3.1B | ||
| Q3 25 | $5.7B | $3.0B | ||
| Q2 25 | $5.8B | $2.8B | ||
| Q1 25 | $5.7B | $2.6B | ||
| Q4 24 | $5.5B | $2.4B | ||
| Q3 24 | $5.7B | $2.2B | ||
| Q2 24 | $5.8B | $2.2B | ||
| Q1 24 | $5.8B | $2.1B |
| Q4 25 | 6.63× | — | ||
| Q3 25 | 8.45× | — | ||
| Q2 25 | 8.05× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.05× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $231.0M | $194.0M |
| Free Cash FlowOCF − Capex | $194.0M | $178.0M |
| FCF MarginFCF / Revenue | 16.8% | 10.9% |
| Capex IntensityCapex / Revenue | 3.2% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.78× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $231.0M | $194.0M | ||
| Q3 25 | $25.0M | $165.0M | ||
| Q2 25 | $-23.0M | $223.0M | ||
| Q1 25 | $123.0M | $79.0M | ||
| Q4 24 | $80.0M | $147.0M | ||
| Q3 24 | $107.0M | $109.0M | ||
| Q2 24 | $9.0M | $124.0M | ||
| Q1 24 | $148.0M | $-20.0M |
| Q4 25 | $194.0M | $178.0M | ||
| Q3 25 | $-5.0M | $153.0M | ||
| Q2 25 | $-44.0M | $208.0M | ||
| Q1 25 | $94.0M | $69.0M | ||
| Q4 24 | $62.0M | $134.0M | ||
| Q3 24 | $85.0M | $97.0M | ||
| Q2 24 | $-14.0M | $108.0M | ||
| Q1 24 | $124.0M | $-33.0M |
| Q4 25 | 16.8% | 10.9% | ||
| Q3 25 | -0.4% | 9.4% | ||
| Q2 25 | -4.0% | 13.4% | ||
| Q1 25 | 9.6% | 5.2% | ||
| Q4 24 | 5.6% | 10.0% | ||
| Q3 24 | 7.9% | 7.4% | ||
| Q2 24 | -1.3% | 8.7% | ||
| Q1 24 | 11.9% | -3.1% |
| Q4 25 | 3.2% | 1.0% | ||
| Q3 25 | 2.7% | 0.7% | ||
| Q2 25 | 1.9% | 1.0% | ||
| Q1 25 | 3.0% | 0.7% | ||
| Q4 24 | 1.6% | 1.0% | ||
| Q3 24 | 2.1% | 0.9% | ||
| Q2 24 | 2.1% | 1.3% | ||
| Q1 24 | 2.3% | 1.2% |
| Q4 25 | 2.78× | 1.92× | ||
| Q3 25 | 0.96× | 1.57× | ||
| Q2 25 | -0.59× | 2.79× | ||
| Q1 25 | 8.79× | 1.41× | ||
| Q4 24 | 1.95× | 4.59× | ||
| Q3 24 | 5.10× | 1.95× | ||
| Q2 24 | 0.33× | 8.86× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
