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Side-by-side financial comparison of PACS Group, Inc. (PACS) 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× PACS Group, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs 4.4%, a 1.8% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 18.4%). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 20.5%).
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.
PACS vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.6B |
| Net Profit | $59.7M | $101.0M |
| Gross Margin | — | 25.9% |
| Operating Margin | 7.0% | 5.2% |
| Net Margin | 4.4% | 6.2% |
| Revenue YoY | 18.4% | 22.0% |
| Net Profit YoY | 3022.5% | 215.6% |
| EPS (diluted) | $0.42 | $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 | $1.4B | $1.6B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $981.4M | $1.2B | ||
| Q1 24 | $934.3M | $1.1B |
| Q4 25 | $59.7M | $101.0M | ||
| Q3 25 | $52.4M | $105.0M | ||
| Q2 25 | $51.0M | $80.0M | ||
| Q1 25 | $28.5M | $56.0M | ||
| Q4 24 | $1.9M | $32.0M | ||
| Q3 24 | $15.6M | $56.0M | ||
| Q2 24 | $-10.9M | $14.0M | ||
| Q1 24 | $49.1M | $-83.0M |
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 25.3% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | 17.1% | 24.7% | ||
| Q2 24 | 22.3% | 23.0% | ||
| Q1 24 | 21.2% | 23.2% |
| Q4 25 | 7.0% | 5.2% | ||
| Q3 25 | 6.4% | 5.1% | ||
| Q2 25 | 6.2% | 5.2% | ||
| Q1 25 | 3.8% | 3.2% | ||
| Q4 24 | 1.7% | 2.5% | ||
| Q3 24 | 2.2% | 2.6% | ||
| Q2 24 | 0.1% | 0.4% | ||
| Q1 24 | 8.6% | -5.2% |
| Q4 25 | 4.4% | 6.2% | ||
| Q3 25 | 3.9% | 6.4% | ||
| Q2 25 | 3.9% | 5.2% | ||
| Q1 25 | 2.2% | 4.2% | ||
| Q4 24 | 0.2% | 2.4% | ||
| Q3 24 | 1.5% | 4.3% | ||
| Q2 24 | -1.1% | 1.1% | ||
| Q1 24 | 5.3% | -7.7% |
| Q4 25 | $0.42 | $0.18 | ||
| Q3 25 | $0.32 | $0.16 | ||
| Q2 25 | $0.31 | $0.13 | ||
| Q1 25 | $0.17 | $0.09 | ||
| Q4 24 | $-0.03 | $0.09 | ||
| Q3 24 | $0.10 | $0.07 | ||
| Q2 24 | $-0.07 | $0.02 | ||
| Q1 24 | $0.38 | $-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 | $197.0M | $1.4B |
| Total DebtLower is stronger | $353.2M | — |
| Stockholders' EquityBook value | $946.8M | $2.1B |
| Total Assets | $5.6B | $3.1B |
| Debt / EquityLower = less leverage | 0.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $197.0M | $1.4B | ||
| Q3 25 | $355.7M | $1.4B | ||
| Q2 25 | $294.2M | $1.2B | ||
| Q1 25 | $287.5M | $1.0B | ||
| Q4 24 | $157.7M | $903.0M | ||
| Q3 24 | $49.5M | $761.0M | ||
| Q2 24 | $73.4M | $691.0M | ||
| Q1 24 | $81.2M | $578.0M |
| Q4 25 | $353.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $411.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $946.8M | $2.1B | ||
| Q3 25 | $871.3M | $2.0B | ||
| Q2 25 | $806.8M | $1.8B | ||
| Q1 25 | $750.2M | $1.7B | ||
| Q4 24 | $709.6M | $1.5B | ||
| Q3 24 | $660.0M | $1.4B | ||
| Q2 24 | $572.1M | $1.3B | ||
| Q1 24 | $128.0M | $1.2B |
| Q4 25 | $5.6B | $3.1B | ||
| Q3 25 | $5.6B | $3.0B | ||
| Q2 25 | $5.5B | $2.8B | ||
| Q1 25 | $5.5B | $2.6B | ||
| Q4 24 | $5.2B | $2.4B | ||
| Q3 24 | $4.5B | $2.2B | ||
| Q2 24 | $3.9B | $2.2B | ||
| Q1 24 | $3.9B | $2.1B |
| Q4 25 | 0.37× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.58× | — | ||
| 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 | $-3.4M | $194.0M |
| Free Cash FlowOCF − Capex | — | $178.0M |
| FCF MarginFCF / Revenue | — | 10.9% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | -0.06× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.4M | $194.0M | ||
| Q3 25 | $204.8M | $165.0M | ||
| Q2 25 | $52.6M | $223.0M | ||
| Q1 25 | $150.2M | $79.0M | ||
| Q4 24 | $64.6M | $147.0M | ||
| Q3 24 | $209.2M | $109.0M | ||
| Q2 24 | $34.8M | $124.0M | ||
| Q1 24 | $58.8M | $-20.0M |
| 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 24 | — | $-33.0M |
| 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 24 | — | -3.1% |
| 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 24 | — | 1.2% |
| Q4 25 | -0.06× | 1.92× | ||
| Q3 25 | 3.91× | 1.57× | ||
| Q2 25 | 1.03× | 2.79× | ||
| Q1 25 | 5.28× | 1.41× | ||
| Q4 24 | 33.78× | 4.59× | ||
| Q3 24 | 13.39× | 1.95× | ||
| Q2 24 | — | 8.86× | ||
| Q1 24 | 1.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PACS
Segment breakdown not available.
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
