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Side-by-side financial comparison of SEALED AIR CORP (SEE) 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× SEALED AIR CORP). Toast, Inc. runs the higher net margin — 6.2% vs 3.1%, a 3.0% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 2.6%). SEALED AIR CORP produced more free cash flow last quarter ($257.7M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 2.7%).
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
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.
SEE vs TOST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.6B |
| Net Profit | $43.8M | $101.0M |
| Gross Margin | 28.6% | 25.9% |
| Operating Margin | 11.4% | 5.2% |
| Net Margin | 3.1% | 6.2% |
| Revenue YoY | 2.6% | 22.0% |
| Net Profit YoY | 700.0% | 215.6% |
| EPS (diluted) | $0.30 | $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 | $1.4B | $1.3B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.3B | $1.2B | ||
| Q1 24 | $1.3B | $1.1B |
| Q4 25 | $43.8M | $101.0M | ||
| Q3 25 | $255.1M | $105.0M | ||
| Q2 25 | $93.1M | $80.0M | ||
| Q1 25 | $113.5M | $56.0M | ||
| Q4 24 | $-7.3M | $32.0M | ||
| Q3 24 | $91.7M | $56.0M | ||
| Q2 24 | $98.3M | $14.0M | ||
| Q1 24 | $82.0M | $-83.0M |
| Q4 25 | 28.6% | 25.9% | ||
| Q3 25 | 29.8% | 26.5% | ||
| Q2 25 | 30.7% | 25.3% | ||
| Q1 25 | 30.9% | 25.9% | ||
| Q4 24 | 30.0% | 24.9% | ||
| Q3 24 | 30.1% | 24.7% | ||
| Q2 24 | 31.2% | 23.0% | ||
| Q1 24 | 30.3% | 23.2% |
| Q4 25 | 11.4% | 5.2% | ||
| Q3 25 | 13.8% | 5.1% | ||
| Q2 25 | 15.0% | 5.2% | ||
| Q1 25 | 14.5% | 3.2% | ||
| Q4 24 | 11.7% | 2.5% | ||
| Q3 24 | 13.9% | 2.6% | ||
| Q2 24 | 15.4% | 0.4% | ||
| Q1 24 | 14.0% | -5.2% |
| Q4 25 | 3.1% | 6.2% | ||
| Q3 25 | 19.0% | 6.4% | ||
| Q2 25 | 7.0% | 5.2% | ||
| Q1 25 | 9.0% | 4.2% | ||
| Q4 24 | -0.5% | 2.4% | ||
| Q3 24 | 6.9% | 4.3% | ||
| Q2 24 | 7.4% | 1.1% | ||
| Q1 24 | 6.2% | -7.7% |
| Q4 25 | $0.30 | $0.18 | ||
| Q3 25 | $1.73 | $0.16 | ||
| Q2 25 | $0.63 | $0.13 | ||
| Q1 25 | $0.77 | $0.09 | ||
| Q4 24 | $-0.05 | $0.09 | ||
| Q3 24 | $0.63 | $0.07 | ||
| Q2 24 | $0.67 | $0.02 | ||
| Q1 24 | $0.56 | $-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 | $344.0M | $1.4B |
| Total DebtLower is stronger | $3.3B | — |
| Stockholders' EquityBook value | $1.2B | $2.1B |
| Total Assets | $7.0B | $3.1B |
| Debt / EquityLower = less leverage | 2.65× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $344.0M | $1.4B | ||
| Q3 25 | $282.5M | $1.4B | ||
| Q2 25 | $354.4M | $1.2B | ||
| Q1 25 | $335.2M | $1.0B | ||
| Q4 24 | $371.8M | $903.0M | ||
| Q3 24 | $386.0M | $761.0M | ||
| Q2 24 | $388.6M | $691.0M | ||
| Q1 24 | $352.8M | $578.0M |
| Q4 25 | $3.3B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $4.2B | — | ||
| Q4 24 | $4.2B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.4B | — | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $1.2B | $2.1B | ||
| Q3 25 | $1.2B | $2.0B | ||
| Q2 25 | $953.1M | $1.8B | ||
| Q1 25 | $797.9M | $1.7B | ||
| Q4 24 | $624.5M | $1.5B | ||
| Q3 24 | $771.2M | $1.4B | ||
| Q2 24 | $650.1M | $1.3B | ||
| Q1 24 | $598.3M | $1.2B |
| Q4 25 | $7.0B | $3.1B | ||
| Q3 25 | $7.1B | $3.0B | ||
| Q2 25 | $7.2B | $2.8B | ||
| Q1 25 | $7.0B | $2.6B | ||
| Q4 24 | $7.0B | $2.4B | ||
| Q3 24 | $7.3B | $2.2B | ||
| Q2 24 | $7.3B | $2.2B | ||
| Q1 24 | $7.2B | $2.1B |
| Q4 25 | 2.65× | — | ||
| Q3 25 | 3.34× | — | ||
| Q2 25 | 4.18× | — | ||
| Q1 25 | 5.26× | — | ||
| Q4 24 | 6.72× | — | ||
| Q3 24 | 5.62× | — | ||
| Q2 24 | 6.81× | — | ||
| Q1 24 | 7.49× | — |
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 | $293.6M | $194.0M |
| Free Cash FlowOCF − Capex | $257.7M | $178.0M |
| FCF MarginFCF / Revenue | 18.5% | 10.9% |
| Capex IntensityCapex / Revenue | 2.6% | 1.0% |
| Cash ConversionOCF / Net Profit | 6.70× | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $458.5M | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $293.6M | $194.0M | ||
| Q3 25 | $165.9M | $165.0M | ||
| Q2 25 | $136.6M | $223.0M | ||
| Q1 25 | $31.9M | $79.0M | ||
| Q4 24 | $244.2M | $147.0M | ||
| Q3 24 | $170.5M | $109.0M | ||
| Q2 24 | $188.2M | $124.0M | ||
| Q1 24 | $125.1M | $-20.0M |
| Q4 25 | $257.7M | $178.0M | ||
| Q3 25 | $119.6M | $153.0M | ||
| Q2 25 | $93.2M | $208.0M | ||
| Q1 25 | $-12.0M | $69.0M | ||
| Q4 24 | $185.1M | $134.0M | ||
| Q3 24 | $115.2M | $97.0M | ||
| Q2 24 | $129.5M | $108.0M | ||
| Q1 24 | $78.0M | $-33.0M |
| Q4 25 | 18.5% | 10.9% | ||
| Q3 25 | 8.9% | 9.4% | ||
| Q2 25 | 7.0% | 13.4% | ||
| Q1 25 | -0.9% | 5.2% | ||
| Q4 24 | 13.6% | 10.0% | ||
| Q3 24 | 8.6% | 7.4% | ||
| Q2 24 | 9.7% | 8.7% | ||
| Q1 24 | 5.9% | -3.1% |
| Q4 25 | 2.6% | 1.0% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 3.3% | 1.0% | ||
| Q1 25 | 3.5% | 0.7% | ||
| Q4 24 | 4.4% | 1.0% | ||
| Q3 24 | 4.1% | 0.9% | ||
| Q2 24 | 4.4% | 1.3% | ||
| Q1 24 | 3.6% | 1.2% |
| Q4 25 | 6.70× | 1.92× | ||
| Q3 25 | 0.65× | 1.57× | ||
| Q2 25 | 1.47× | 2.79× | ||
| Q1 25 | 0.28× | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | 1.86× | 1.95× | ||
| Q2 24 | 1.91× | 8.86× | ||
| Q1 24 | 1.53× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
