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Side-by-side financial comparison of Toast, Inc. (TOST) and Block, Inc. (XYZ). Click either name above to swap in a different company.
Block, Inc. is the larger business by last-quarter revenue ($6.3B vs $1.6B, roughly 3.8× Toast, Inc.). Toast, Inc. runs the higher net margin — 6.2% vs 1.9%, a 4.3% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 3.6%). Block, Inc. produced more free cash flow last quarter ($579.8M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 2.4%).
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.
Block, Inc. is an American technology company and a financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block serves 57 million users and 4 million sellers, processing $241 billion in payments annually.
TOST vs XYZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $6.3B |
| Net Profit | $101.0M | $115.8M |
| Gross Margin | 25.9% | 45.9% |
| Operating Margin | 5.2% | 7.8% |
| Net Margin | 6.2% | 1.9% |
| Revenue YoY | 22.0% | 3.6% |
| Net Profit YoY | 215.6% | -94.1% |
| EPS (diluted) | $0.18 | $0.19 |
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 | $6.3B | ||
| Q3 25 | $1.6B | $6.1B | ||
| Q2 25 | $1.6B | $6.1B | ||
| Q1 25 | $1.3B | $5.8B | ||
| Q4 24 | $1.3B | $6.0B | ||
| Q3 24 | $1.3B | $6.0B | ||
| Q2 24 | $1.2B | $6.2B | ||
| Q1 24 | $1.1B | $6.0B |
| Q4 25 | $101.0M | $115.8M | ||
| Q3 25 | $105.0M | $461.5M | ||
| Q2 25 | $80.0M | $538.5M | ||
| Q1 25 | $56.0M | $189.9M | ||
| Q4 24 | $32.0M | $1.9B | ||
| Q3 24 | $56.0M | $283.8M | ||
| Q2 24 | $14.0M | $195.3M | ||
| Q1 24 | $-83.0M | $472.0M |
| Q4 25 | 25.9% | 45.9% | ||
| Q3 25 | 26.5% | 43.5% | ||
| Q2 25 | 25.3% | 41.9% | ||
| Q1 25 | 25.9% | 39.7% | ||
| Q4 24 | 24.9% | 38.3% | ||
| Q3 24 | 24.7% | 37.6% | ||
| Q2 24 | 23.0% | 36.3% | ||
| Q1 24 | 23.2% | 35.2% |
| Q4 25 | 5.2% | 7.8% | ||
| Q3 25 | 5.1% | 6.7% | ||
| Q2 25 | 5.2% | 8.0% | ||
| Q1 25 | 3.2% | 5.7% | ||
| Q4 24 | 2.5% | 0.2% | ||
| Q3 24 | 2.6% | 5.4% | ||
| Q2 24 | 0.4% | 5.0% | ||
| Q1 24 | -5.2% | 4.2% |
| Q4 25 | 6.2% | 1.9% | ||
| Q3 25 | 6.4% | 7.5% | ||
| Q2 25 | 5.2% | 8.9% | ||
| Q1 25 | 4.2% | 3.3% | ||
| Q4 24 | 2.4% | 32.3% | ||
| Q3 24 | 4.3% | 4.7% | ||
| Q2 24 | 1.1% | 3.2% | ||
| Q1 24 | -7.7% | 7.9% |
| Q4 25 | $0.18 | $0.19 | ||
| Q3 25 | $0.16 | $0.74 | ||
| Q2 25 | $0.13 | $0.87 | ||
| Q1 25 | $0.09 | $0.30 | ||
| Q4 24 | $0.09 | $3.06 | ||
| Q3 24 | $0.07 | $0.45 | ||
| Q2 24 | $0.02 | $0.31 | ||
| Q1 24 | $-0.15 | $0.74 |
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 | $6.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.1B | $22.2B |
| Total Assets | $3.1B | $39.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $6.6B | ||
| Q3 25 | $1.4B | $8.3B | ||
| Q2 25 | $1.2B | $6.4B | ||
| Q1 25 | $1.0B | $7.1B | ||
| Q4 24 | $903.0M | $8.1B | ||
| Q3 24 | $761.0M | $8.3B | ||
| Q2 24 | $691.0M | $7.8B | ||
| Q1 24 | $578.0M | $5.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $2.1B | $22.2B | ||
| Q3 25 | $2.0B | $22.5B | ||
| Q2 25 | $1.8B | $22.2B | ||
| Q1 25 | $1.7B | $21.5B | ||
| Q4 24 | $1.5B | $21.3B | ||
| Q3 24 | $1.4B | $19.9B | ||
| Q2 24 | $1.3B | $19.3B | ||
| Q1 24 | $1.2B | $19.0B |
| Q4 25 | $3.1B | $39.5B | ||
| Q3 25 | $3.0B | $39.2B | ||
| Q2 25 | $2.8B | $36.9B | ||
| Q1 25 | $2.6B | $36.4B | ||
| Q4 24 | $2.4B | $36.8B | ||
| Q3 24 | $2.2B | $36.4B | ||
| Q2 24 | $2.2B | $37.5B | ||
| Q1 24 | $2.1B | $35.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.22× |
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 | $621.0M |
| Free Cash FlowOCF − Capex | $178.0M | $579.8M |
| FCF MarginFCF / Revenue | 10.9% | 9.3% |
| Capex IntensityCapex / Revenue | 1.0% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.92× | 5.36× |
| TTM Free Cash FlowTrailing 4 quarters | $608.0M | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $194.0M | $621.0M | ||
| Q3 25 | $165.0M | $1.5B | ||
| Q2 25 | $223.0M | $374.3M | ||
| Q1 25 | $79.0M | $133.3M | ||
| Q4 24 | $147.0M | $13.8M | ||
| Q3 24 | $109.0M | $684.8M | ||
| Q2 24 | $124.0M | $519.4M | ||
| Q1 24 | $-20.0M | $489.4M |
| Q4 25 | $178.0M | $579.8M | ||
| Q3 25 | $153.0M | $1.4B | ||
| Q2 25 | $208.0M | $343.0M | ||
| Q1 25 | $69.0M | $101.5M | ||
| Q4 24 | $134.0M | $-13.2M | ||
| Q3 24 | $97.0M | $628.2M | ||
| Q2 24 | $108.0M | $481.0M | ||
| Q1 24 | $-33.0M | $457.4M |
| Q4 25 | 10.9% | 9.3% | ||
| Q3 25 | 9.4% | 22.9% | ||
| Q2 25 | 13.4% | 5.7% | ||
| Q1 25 | 5.2% | 1.8% | ||
| Q4 24 | 10.0% | -0.2% | ||
| Q3 24 | 7.4% | 10.5% | ||
| Q2 24 | 8.7% | 7.8% | ||
| Q1 24 | -3.1% | 7.7% |
| Q4 25 | 1.0% | 0.7% | ||
| Q3 25 | 0.7% | 0.8% | ||
| Q2 25 | 1.0% | 0.5% | ||
| Q1 25 | 0.7% | 0.6% | ||
| Q4 24 | 1.0% | 0.4% | ||
| Q3 24 | 0.9% | 0.9% | ||
| Q2 24 | 1.3% | 0.6% | ||
| Q1 24 | 1.2% | 0.5% |
| Q4 25 | 1.92× | 5.36× | ||
| Q3 25 | 1.57× | 3.14× | ||
| Q2 25 | 2.79× | 0.70× | ||
| Q1 25 | 1.41× | 0.70× | ||
| Q4 24 | 4.59× | 0.01× | ||
| Q3 24 | 1.95× | 2.41× | ||
| Q2 24 | 8.86× | 2.66× | ||
| Q1 24 | — | 1.04× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
