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Side-by-side financial comparison of Primoris Services Corp (PRIM) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Primoris Services Corp 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 2.8%, a 3.4% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 6.7%). Toast, Inc. produced more free cash flow last quarter ($178.0M vs $121.1M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 14.7%).
Primoris Services Corporation is a publicly traded specialty construction and infrastructure company based in the United States, with a particular focus on pipelines for natural gas, wastewater and water. As of 2014 it was a Fortune 1000 company.
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.
PRIM vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $1.6B |
| Net Profit | $51.7M | $101.0M |
| Gross Margin | 9.4% | 25.9% |
| Operating Margin | 4.2% | 5.2% |
| Net Margin | 2.8% | 6.2% |
| Revenue YoY | 6.7% | 22.0% |
| Net Profit YoY | -4.2% | 215.6% |
| EPS (diluted) | $0.94 | $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 | $1.9B | $1.6B | ||
| Q3 25 | $2.2B | $1.6B | ||
| Q2 25 | $1.9B | $1.6B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.7B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.4B | $1.1B |
| Q4 25 | $51.7M | $101.0M | ||
| Q3 25 | $94.6M | $105.0M | ||
| Q2 25 | $84.3M | $80.0M | ||
| Q1 25 | $44.2M | $56.0M | ||
| Q4 24 | $54.0M | $32.0M | ||
| Q3 24 | $58.4M | $56.0M | ||
| Q2 24 | $49.5M | $14.0M | ||
| Q1 24 | $18.9M | $-83.0M |
| Q4 25 | 9.4% | 25.9% | ||
| Q3 25 | 10.8% | 26.5% | ||
| Q2 25 | 12.3% | 25.3% | ||
| Q1 25 | 10.4% | 25.9% | ||
| Q4 24 | 10.6% | 24.9% | ||
| Q3 24 | 12.0% | 24.7% | ||
| Q2 24 | 11.9% | 23.0% | ||
| Q1 24 | 9.4% | 23.2% |
| Q4 25 | 4.2% | 5.2% | ||
| Q3 25 | 6.3% | 5.1% | ||
| Q2 25 | 6.7% | 5.2% | ||
| Q1 25 | 4.3% | 3.2% | ||
| Q4 24 | 5.0% | 2.5% | ||
| Q3 24 | 6.0% | 2.6% | ||
| Q2 24 | 5.5% | 0.4% | ||
| Q1 24 | 3.1% | -5.2% |
| Q4 25 | 2.8% | 6.2% | ||
| Q3 25 | 4.3% | 6.4% | ||
| Q2 25 | 4.5% | 5.2% | ||
| Q1 25 | 2.7% | 4.2% | ||
| Q4 24 | 3.1% | 2.4% | ||
| Q3 24 | 3.5% | 4.3% | ||
| Q2 24 | 3.2% | 1.1% | ||
| Q1 24 | 1.3% | -7.7% |
| Q4 25 | $0.94 | $0.18 | ||
| Q3 25 | $1.73 | $0.16 | ||
| Q2 25 | $1.54 | $0.13 | ||
| Q1 25 | $0.81 | $0.09 | ||
| Q4 24 | $0.98 | $0.09 | ||
| Q3 24 | $1.07 | $0.07 | ||
| Q2 24 | $0.91 | $0.02 | ||
| Q1 24 | $0.35 | $-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 | $535.5M | $1.4B |
| Total DebtLower is stronger | $469.9M | — |
| Stockholders' EquityBook value | $1.7B | $2.1B |
| Total Assets | $4.4B | $3.1B |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $535.5M | $1.4B | ||
| Q3 25 | $431.4M | $1.4B | ||
| Q2 25 | $390.3M | $1.2B | ||
| Q1 25 | $351.6M | $1.0B | ||
| Q4 24 | $455.8M | $903.0M | ||
| Q3 24 | $352.7M | $761.0M | ||
| Q2 24 | $207.4M | $691.0M | ||
| Q1 24 | $177.6M | $578.0M |
| Q4 25 | $469.9M | — | ||
| Q3 25 | $486.0M | — | ||
| Q2 25 | $603.1M | — | ||
| Q1 25 | $612.0M | — | ||
| Q4 24 | $734.8M | — | ||
| Q3 24 | $903.7M | — | ||
| Q2 24 | $933.0M | — | ||
| Q1 24 | $951.7M | — |
| Q4 25 | $1.7B | $2.1B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.5B | $1.8B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | $1.2B | $1.2B |
| Q4 25 | $4.4B | $3.1B | ||
| Q3 25 | $4.6B | $3.0B | ||
| Q2 25 | $4.5B | $2.8B | ||
| Q1 25 | $4.2B | $2.6B | ||
| Q4 24 | $4.2B | $2.4B | ||
| Q3 24 | $4.2B | $2.2B | ||
| Q2 24 | $4.0B | $2.2B | ||
| Q1 24 | $4.0B | $2.1B |
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | 0.42× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.72× | — | ||
| Q1 24 | 0.76× | — |
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 | $142.9M | $194.0M |
| Free Cash FlowOCF − Capex | $121.1M | $178.0M |
| FCF MarginFCF / Revenue | 6.5% | 10.9% |
| Capex IntensityCapex / Revenue | 1.2% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.76× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $340.5M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.9M | $194.0M | ||
| Q3 25 | $182.9M | $165.0M | ||
| Q2 25 | $78.5M | $223.0M | ||
| Q1 25 | $66.2M | $79.0M | ||
| Q4 24 | $298.3M | $147.0M | ||
| Q3 24 | $222.5M | $109.0M | ||
| Q2 24 | $16.1M | $124.0M | ||
| Q1 24 | $-28.5M | $-20.0M |
| Q4 25 | $121.1M | $178.0M | ||
| Q3 25 | $148.4M | $153.0M | ||
| Q2 25 | $45.3M | $208.0M | ||
| Q1 25 | $25.6M | $69.0M | ||
| Q4 24 | $270.0M | $134.0M | ||
| Q3 24 | $158.8M | $97.0M | ||
| Q2 24 | $-8.1M | $108.0M | ||
| Q1 24 | $-38.9M | $-33.0M |
| Q4 25 | 6.5% | 10.9% | ||
| Q3 25 | 6.8% | 9.4% | ||
| Q2 25 | 2.4% | 13.4% | ||
| Q1 25 | 1.6% | 5.2% | ||
| Q4 24 | 15.5% | 10.0% | ||
| Q3 24 | 9.6% | 7.4% | ||
| Q2 24 | -0.5% | 8.7% | ||
| Q1 24 | -2.8% | -3.1% |
| Q4 25 | 1.2% | 1.0% | ||
| Q3 25 | 1.6% | 0.7% | ||
| Q2 25 | 1.8% | 1.0% | ||
| Q1 25 | 2.5% | 0.7% | ||
| Q4 24 | 1.6% | 1.0% | ||
| Q3 24 | 3.9% | 0.9% | ||
| Q2 24 | 1.5% | 1.3% | ||
| Q1 24 | 0.7% | 1.2% |
| Q4 25 | 2.76× | 1.92× | ||
| Q3 25 | 1.93× | 1.57× | ||
| Q2 25 | 0.93× | 2.79× | ||
| Q1 25 | 1.50× | 1.41× | ||
| Q4 24 | 5.53× | 4.59× | ||
| Q3 24 | 3.81× | 1.95× | ||
| Q2 24 | 0.32× | 8.86× | ||
| Q1 24 | -1.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRIM
| Energy Segment | $1.2B | 64% |
| Unit Price Contracts | $473.7M | 25% |
| Cost Reimbursable Contracts | $121.3M | 7% |
| Other | $74.9M | 4% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
