vs
Side-by-side financial comparison of Toast, Inc. (TOST) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.2B, roughly 1.3× MARRIOTT VACATIONS WORLDWIDE Corp). Toast, Inc. runs the higher net margin — 6.2% vs -35.0%, a 41.2% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs -0.7%). Toast, Inc. produced more free cash flow last quarter ($178.0M vs $-6.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 5.2%).
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.
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
TOST vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.2B |
| Net Profit | $101.0M | $-431.0M |
| Gross Margin | 25.9% | — |
| Operating Margin | 5.2% | — |
| Net Margin | 6.2% | -35.0% |
| Revenue YoY | 22.0% | -0.7% |
| Net Profit YoY | 215.6% | -962.0% |
| EPS (diluted) | $0.18 | $-12.00 |
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 | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.2B | $1.1B | ||
| Q1 24 | $1.1B | $1.1B |
| Q4 25 | $101.0M | $-431.0M | ||
| Q3 25 | $105.0M | $-2.0M | ||
| Q2 25 | $80.0M | $69.0M | ||
| Q1 25 | $56.0M | $56.0M | ||
| Q4 24 | $32.0M | $50.0M | ||
| Q3 24 | $56.0M | $84.0M | ||
| Q2 24 | $14.0M | $37.0M | ||
| Q1 24 | $-83.0M | $47.0M |
| Q4 25 | 25.9% | — | ||
| Q3 25 | 26.5% | — | ||
| Q2 25 | 25.3% | — | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 24.7% | — | ||
| Q2 24 | 23.0% | — | ||
| Q1 24 | 23.2% | — |
| Q4 25 | 5.2% | — | ||
| Q3 25 | 5.1% | — | ||
| Q2 25 | 5.2% | — | ||
| Q1 25 | 3.2% | — | ||
| Q4 24 | 2.5% | — | ||
| Q3 24 | 2.6% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | -5.2% | — |
| Q4 25 | 6.2% | -35.0% | ||
| Q3 25 | 6.4% | -0.2% | ||
| Q2 25 | 5.2% | 6.0% | ||
| Q1 25 | 4.2% | 5.0% | ||
| Q4 24 | 2.4% | 4.0% | ||
| Q3 24 | 4.3% | 6.9% | ||
| Q2 24 | 1.1% | 3.5% | ||
| Q1 24 | -7.7% | 4.2% |
| Q4 25 | $0.18 | $-12.00 | ||
| Q3 25 | $0.16 | $-0.07 | ||
| Q2 25 | $0.13 | $1.77 | ||
| Q1 25 | $0.09 | $1.46 | ||
| Q4 24 | $0.09 | $1.29 | ||
| Q3 24 | $0.07 | $2.12 | ||
| Q2 24 | $0.02 | $0.98 | ||
| Q1 24 | $-0.15 | $1.22 |
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 | $406.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $2.0B |
| Total Assets | $3.1B | $9.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $406.0M | ||
| Q3 25 | $1.4B | $474.0M | ||
| Q2 25 | $1.2B | $205.0M | ||
| Q1 25 | $1.0B | $196.0M | ||
| Q4 24 | $903.0M | $197.0M | ||
| Q3 24 | $761.0M | $197.0M | ||
| Q2 24 | $691.0M | $206.0M | ||
| Q1 24 | $578.0M | $237.0M |
| Q4 25 | $2.1B | $2.0B | ||
| Q3 25 | $2.0B | $2.5B | ||
| Q2 25 | $1.8B | $2.5B | ||
| Q1 25 | $1.7B | $2.4B | ||
| Q4 24 | $1.5B | $2.4B | ||
| Q3 24 | $1.4B | $2.4B | ||
| Q2 24 | $1.3B | $2.4B | ||
| Q1 24 | $1.2B | $2.4B |
| Q4 25 | $3.1B | $9.8B | ||
| Q3 25 | $3.0B | $10.1B | ||
| Q2 25 | $2.8B | $9.9B | ||
| Q1 25 | $2.6B | $9.9B | ||
| Q4 24 | $2.4B | $9.8B | ||
| Q3 24 | $2.2B | $9.7B | ||
| Q2 24 | $2.2B | $9.6B | ||
| Q1 24 | $2.1B | $9.9B |
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 | $6.0M |
| Free Cash FlowOCF − Capex | $178.0M | $-6.0M |
| FCF MarginFCF / Revenue | 10.9% | -0.5% |
| Capex IntensityCapex / Revenue | 1.0% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $608.0M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $194.0M | $6.0M | ||
| Q3 25 | $165.0M | $62.0M | ||
| Q2 25 | $223.0M | $-48.0M | ||
| Q1 25 | $79.0M | $8.0M | ||
| Q4 24 | $147.0M | $100.0M | ||
| Q3 24 | $109.0M | $72.0M | ||
| Q2 24 | $124.0M | $30.0M | ||
| Q1 24 | $-20.0M | $3.0M |
| Q4 25 | $178.0M | $-6.0M | ||
| Q3 25 | $153.0M | $51.0M | ||
| Q2 25 | $208.0M | $-68.0M | ||
| Q1 25 | $69.0M | $-6.0M | ||
| Q4 24 | $134.0M | $86.0M | ||
| Q3 24 | $97.0M | $58.0M | ||
| Q2 24 | $108.0M | $17.0M | ||
| Q1 24 | $-33.0M | $-13.0M |
| Q4 25 | 10.9% | -0.5% | ||
| Q3 25 | 9.4% | 4.3% | ||
| Q2 25 | 13.4% | -5.9% | ||
| Q1 25 | 5.2% | -0.5% | ||
| Q4 24 | 10.0% | 6.9% | ||
| Q3 24 | 7.4% | 4.8% | ||
| Q2 24 | 8.7% | 1.6% | ||
| Q1 24 | -3.1% | -1.2% |
| Q4 25 | 1.0% | 1.0% | ||
| Q3 25 | 0.7% | 0.9% | ||
| Q2 25 | 1.0% | 1.7% | ||
| Q1 25 | 0.7% | 1.3% | ||
| Q4 24 | 1.0% | 1.1% | ||
| Q3 24 | 0.9% | 1.1% | ||
| Q2 24 | 1.3% | 1.2% | ||
| Q1 24 | 1.2% | 1.4% |
| Q4 25 | 1.92× | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 2.79× | -0.70× | ||
| Q1 25 | 1.41× | 0.14× | ||
| Q4 24 | 4.59× | 2.00× | ||
| Q3 24 | 1.95× | 0.86× | ||
| Q2 24 | 8.86× | 0.81× | ||
| Q1 24 | — | 0.06× |
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% |
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
