vs
Side-by-side financial comparison of Sally Beauty Holdings, Inc. (SBH) 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 $943.2M, roughly 1.7× Sally Beauty Holdings, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs 4.8%, a 1.4% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 0.6%). Toast, Inc. produced more free cash flow last quarter ($178.0M vs $57.5M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 1.9%).
Sally Beauty Holdings, Inc. is an American international specialty retailer and distributor of professional beauty supplies with revenues of more than $3.9 billion annually.
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.
SBH vs TOST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $943.2M | $1.6B |
| Net Profit | $45.6M | $101.0M |
| Gross Margin | 51.2% | 25.9% |
| Operating Margin | 8.1% | 5.2% |
| Net Margin | 4.8% | 6.2% |
| Revenue YoY | 0.6% | 22.0% |
| Net Profit YoY | -25.3% | 215.6% |
| EPS (diluted) | $0.45 | $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 | $943.2M | $1.6B | ||
| Q3 25 | $947.1M | $1.6B | ||
| Q2 25 | $933.3M | $1.6B | ||
| Q1 25 | $883.1M | $1.3B | ||
| Q4 24 | $937.9M | $1.3B | ||
| Q3 24 | $935.0M | $1.3B | ||
| Q2 24 | $942.3M | $1.2B | ||
| Q1 24 | $908.4M | $1.1B |
| Q4 25 | $45.6M | $101.0M | ||
| Q3 25 | $49.9M | $105.0M | ||
| Q2 25 | $45.7M | $80.0M | ||
| Q1 25 | $39.2M | $56.0M | ||
| Q4 24 | $61.0M | $32.0M | ||
| Q3 24 | $48.1M | $56.0M | ||
| Q2 24 | $37.7M | $14.0M | ||
| Q1 24 | $29.2M | $-83.0M |
| Q4 25 | 51.2% | 25.9% | ||
| Q3 25 | 52.2% | 26.5% | ||
| Q2 25 | 51.5% | 25.3% | ||
| Q1 25 | 52.0% | 25.9% | ||
| Q4 24 | 50.8% | 24.9% | ||
| Q3 24 | 51.2% | 24.7% | ||
| Q2 24 | 51.0% | 23.0% | ||
| Q1 24 | 51.0% | 23.2% |
| Q4 25 | 8.1% | 5.2% | ||
| Q3 25 | 8.4% | 5.1% | ||
| Q2 25 | 8.4% | 5.2% | ||
| Q1 25 | 7.9% | 3.2% | ||
| Q4 24 | 10.7% | 2.5% | ||
| Q3 24 | 8.8% | 2.6% | ||
| Q2 24 | 7.6% | 0.4% | ||
| Q1 24 | 6.6% | -5.2% |
| Q4 25 | 4.8% | 6.2% | ||
| Q3 25 | 5.3% | 6.4% | ||
| Q2 25 | 4.9% | 5.2% | ||
| Q1 25 | 4.4% | 4.2% | ||
| Q4 24 | 6.5% | 2.4% | ||
| Q3 24 | 5.1% | 4.3% | ||
| Q2 24 | 4.0% | 1.1% | ||
| Q1 24 | 3.2% | -7.7% |
| Q4 25 | $0.45 | $0.18 | ||
| Q3 25 | $0.49 | $0.16 | ||
| Q2 25 | $0.44 | $0.13 | ||
| Q1 25 | $0.38 | $0.09 | ||
| Q4 24 | $0.58 | $0.09 | ||
| Q3 24 | $0.45 | $0.07 | ||
| Q2 24 | $0.36 | $0.02 | ||
| Q1 24 | $0.27 | $-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 | $157.2M | $1.4B |
| Total DebtLower is stronger | $842.5M | — |
| Stockholders' EquityBook value | $823.6M | $2.1B |
| Total Assets | $2.9B | $3.1B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.2M | $1.4B | ||
| Q3 25 | $149.2M | $1.4B | ||
| Q2 25 | $112.8M | $1.2B | ||
| Q1 25 | $92.2M | $1.0B | ||
| Q4 24 | $105.5M | $903.0M | ||
| Q3 24 | $108.0M | $761.0M | ||
| Q2 24 | $97.4M | $691.0M | ||
| Q1 24 | $97.2M | $578.0M |
| Q4 25 | $842.5M | — | ||
| Q3 25 | $862.0M | — | ||
| Q2 25 | $882.4M | — | ||
| Q1 25 | $902.8M | — | ||
| Q4 24 | $938.1M | — | ||
| Q3 24 | $978.3M | — | ||
| Q2 24 | $978.9M | — | ||
| Q1 24 | $978.4M | — |
| Q4 25 | $823.6M | $2.1B | ||
| Q3 25 | $794.2M | $2.0B | ||
| Q2 25 | $762.9M | $1.8B | ||
| Q1 25 | $699.8M | $1.7B | ||
| Q4 24 | $656.5M | $1.5B | ||
| Q3 24 | $628.5M | $1.4B | ||
| Q2 24 | $577.7M | $1.3B | ||
| Q1 24 | $550.9M | $1.2B |
| Q4 25 | $2.9B | $3.1B | ||
| Q3 25 | $2.9B | $3.0B | ||
| Q2 25 | $2.7B | $2.8B | ||
| Q1 25 | $2.7B | $2.6B | ||
| Q4 24 | $2.7B | $2.4B | ||
| Q3 24 | $2.8B | $2.2B | ||
| Q2 24 | $2.7B | $2.2B | ||
| Q1 24 | $2.7B | $2.1B |
| Q4 25 | 1.02× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.29× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.69× | — | ||
| Q1 24 | 1.78× | — |
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 | $93.2M | $194.0M |
| Free Cash FlowOCF − Capex | $57.5M | $178.0M |
| FCF MarginFCF / Revenue | 6.1% | 10.9% |
| Capex IntensityCapex / Revenue | 3.8% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.05× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $216.8M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $93.2M | $194.0M | ||
| Q3 25 | $120.9M | $165.0M | ||
| Q2 25 | $69.4M | $223.0M | ||
| Q1 25 | $51.1M | $79.0M | ||
| Q4 24 | $33.5M | $147.0M | ||
| Q3 24 | $110.7M | $109.0M | ||
| Q2 24 | $47.9M | $124.0M | ||
| Q1 24 | $36.9M | $-20.0M |
| Q4 25 | $57.5M | $178.0M | ||
| Q3 25 | $78.0M | $153.0M | ||
| Q2 25 | $49.1M | $208.0M | ||
| Q1 25 | $32.2M | $69.0M | ||
| Q4 24 | $13.4M | $134.0M | ||
| Q3 24 | $73.3M | $97.0M | ||
| Q2 24 | $28.7M | $108.0M | ||
| Q1 24 | $22.8M | $-33.0M |
| Q4 25 | 6.1% | 10.9% | ||
| Q3 25 | 8.2% | 9.4% | ||
| Q2 25 | 5.3% | 13.4% | ||
| Q1 25 | 3.6% | 5.2% | ||
| Q4 24 | 1.4% | 10.0% | ||
| Q3 24 | 7.8% | 7.4% | ||
| Q2 24 | 3.1% | 8.7% | ||
| Q1 24 | 2.5% | -3.1% |
| Q4 25 | 3.8% | 1.0% | ||
| Q3 25 | 4.5% | 0.7% | ||
| Q2 25 | 2.2% | 1.0% | ||
| Q1 25 | 2.1% | 0.7% | ||
| Q4 24 | 2.1% | 1.0% | ||
| Q3 24 | 4.0% | 0.9% | ||
| Q2 24 | 2.0% | 1.3% | ||
| Q1 24 | 1.6% | 1.2% |
| Q4 25 | 2.05× | 1.92× | ||
| Q3 25 | 2.42× | 1.57× | ||
| Q2 25 | 1.52× | 2.79× | ||
| Q1 25 | 1.30× | 1.41× | ||
| Q4 24 | 0.55× | 4.59× | ||
| Q3 24 | 2.30× | 1.95× | ||
| Q2 24 | 1.27× | 8.86× | ||
| Q1 24 | 1.26× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SBH
| Sally Beauty Supply | $531.6M | 56% |
| Beauty Systems Group | $411.6M | 44% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
