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Side-by-side financial comparison of Toast, Inc. (TOST) and Trade Desk (The) (TTD). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $846.8M, roughly 1.9× Trade Desk (The)). Trade Desk (The) runs the higher net margin — 22.1% vs 6.2%, a 15.9% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 14.3%). Trade Desk (The) produced more free cash flow last quarter ($285.3M vs $178.0M). Over the past eight quarters, Trade Desk (The)'s revenue compounded faster (31.3% CAGR vs 23.3%).
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.
The Trade Desk, Inc. is an American multinational technology company that specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
TOST vs TTD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $846.8M |
| Net Profit | $101.0M | $186.9M |
| Gross Margin | 25.9% | 80.7% |
| Operating Margin | 5.2% | 30.3% |
| Net Margin | 6.2% | 22.1% |
| Revenue YoY | 22.0% | 14.3% |
| Net Profit YoY | 215.6% | 2.6% |
| EPS (diluted) | $0.18 | $0.39 |
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 | $1.6B | $846.8M | ||
| Q3 25 | $1.6B | $739.4M | ||
| Q2 25 | $1.6B | $694.0M | ||
| Q1 25 | $1.3B | $616.0M | ||
| Q4 24 | $1.3B | $741.0M | ||
| Q3 24 | $1.3B | $628.0M | ||
| Q2 24 | $1.2B | $584.5M | ||
| Q1 24 | $1.1B | $491.3M |
| Q4 25 | $101.0M | $186.9M | ||
| Q3 25 | $105.0M | $115.5M | ||
| Q2 25 | $80.0M | $90.1M | ||
| Q1 25 | $56.0M | $50.7M | ||
| Q4 24 | $32.0M | $182.2M | ||
| Q3 24 | $56.0M | $94.2M | ||
| Q2 24 | $14.0M | $85.0M | ||
| Q1 24 | $-83.0M | $31.7M |
| Q4 25 | 25.9% | 80.7% | ||
| Q3 25 | 26.5% | 78.1% | ||
| Q2 25 | 25.3% | 78.2% | ||
| Q1 25 | 25.9% | 76.8% | ||
| Q4 24 | 24.9% | 81.7% | ||
| Q3 24 | 24.7% | 80.5% | ||
| Q2 24 | 23.0% | 81.1% | ||
| Q1 24 | 23.2% | 78.9% |
| Q4 25 | 5.2% | 30.3% | ||
| Q3 25 | 5.1% | 21.8% | ||
| Q2 25 | 5.2% | 16.8% | ||
| Q1 25 | 3.2% | 8.8% | ||
| Q4 24 | 2.5% | 26.4% | ||
| Q3 24 | 2.6% | 17.3% | ||
| Q2 24 | 0.4% | 16.2% | ||
| Q1 24 | -5.2% | 5.8% |
| Q4 25 | 6.2% | 22.1% | ||
| Q3 25 | 6.4% | 15.6% | ||
| Q2 25 | 5.2% | 13.0% | ||
| Q1 25 | 4.2% | 8.2% | ||
| Q4 24 | 2.4% | 24.6% | ||
| Q3 24 | 4.3% | 15.0% | ||
| Q2 24 | 1.1% | 14.5% | ||
| Q1 24 | -7.7% | 6.4% |
| Q4 25 | $0.18 | $0.39 | ||
| Q3 25 | $0.16 | $0.23 | ||
| Q2 25 | $0.13 | $0.18 | ||
| Q1 25 | $0.09 | $0.10 | ||
| Q4 24 | $0.09 | $0.36 | ||
| Q3 24 | $0.07 | $0.19 | ||
| Q2 24 | $0.02 | $0.17 | ||
| Q1 24 | $-0.15 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.4B | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $2.5B |
| Total Assets | $3.1B | $6.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $1.3B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.2B | $1.7B | ||
| Q1 25 | $1.0B | $1.7B | ||
| Q4 24 | $903.0M | $1.9B | ||
| Q3 24 | $761.0M | $1.7B | ||
| Q2 24 | $691.0M | $1.5B | ||
| Q1 24 | $578.0M | $1.4B |
| Q4 25 | $2.1B | $2.5B | ||
| Q3 25 | $2.0B | $2.6B | ||
| Q2 25 | $1.8B | $2.7B | ||
| Q1 25 | $1.7B | $2.7B | ||
| Q4 24 | $1.5B | $2.9B | ||
| Q3 24 | $1.4B | $2.6B | ||
| Q2 24 | $1.3B | $2.4B | ||
| Q1 24 | $1.2B | $2.2B |
| Q4 25 | $3.1B | $6.2B | ||
| Q3 25 | $3.0B | $5.9B | ||
| Q2 25 | $2.8B | $6.0B | ||
| Q1 25 | $2.6B | $5.7B | ||
| Q4 24 | $2.4B | $6.1B | ||
| Q3 24 | $2.2B | $5.5B | ||
| Q2 24 | $2.2B | $5.2B | ||
| Q1 24 | $2.1B | $4.7B |
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 | $194.0M | $311.6M |
| Free Cash FlowOCF − Capex | $178.0M | $285.3M |
| FCF MarginFCF / Revenue | 10.9% | 33.7% |
| Capex IntensityCapex / Revenue | 1.0% | 3.1% |
| Cash ConversionOCF / Net Profit | 1.92× | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | $608.0M | $795.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $194.0M | $311.6M | ||
| Q3 25 | $165.0M | $224.7M | ||
| Q2 25 | $223.0M | $165.0M | ||
| Q1 25 | $79.0M | $291.4M | ||
| Q4 24 | $147.0M | $199.4M | ||
| Q3 24 | $109.0M | $273.3M | ||
| Q2 24 | $124.0M | $81.3M | ||
| Q1 24 | $-20.0M | $185.5M |
| Q4 25 | $178.0M | $285.3M | ||
| Q3 25 | $153.0M | $158.3M | ||
| Q2 25 | $208.0M | $119.8M | ||
| Q1 25 | $69.0M | $232.3M | ||
| Q4 24 | $134.0M | $179.2M | ||
| Q3 24 | $97.0M | $224.6M | ||
| Q2 24 | $108.0M | $59.1M | ||
| Q1 24 | $-33.0M | $178.2M |
| Q4 25 | 10.9% | 33.7% | ||
| Q3 25 | 9.4% | 21.4% | ||
| Q2 25 | 13.4% | 17.3% | ||
| Q1 25 | 5.2% | 37.7% | ||
| Q4 24 | 10.0% | 24.2% | ||
| Q3 24 | 7.4% | 35.8% | ||
| Q2 24 | 8.7% | 10.1% | ||
| Q1 24 | -3.1% | 36.3% |
| Q4 25 | 1.0% | 3.1% | ||
| Q3 25 | 0.7% | 9.0% | ||
| Q2 25 | 1.0% | 6.5% | ||
| Q1 25 | 0.7% | 9.6% | ||
| Q4 24 | 1.0% | 2.7% | ||
| Q3 24 | 0.9% | 7.8% | ||
| Q2 24 | 1.3% | 3.8% | ||
| Q1 24 | 1.2% | 1.5% |
| Q4 25 | 1.92× | 1.67× | ||
| Q3 25 | 1.57× | 1.94× | ||
| Q2 25 | 2.79× | 1.83× | ||
| Q1 25 | 1.41× | 5.75× | ||
| Q4 24 | 4.59× | 1.09× | ||
| Q3 24 | 1.95× | 2.90× | ||
| Q2 24 | 8.86× | 0.96× | ||
| Q1 24 | — | 5.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
