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Side-by-side financial comparison of Toast, Inc. (TOST) and ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $891.0M, roughly 1.8× ZIONS BANCORPORATION, NATIONAL ASSOCIATION). ZIONS BANCORPORATION, NATIONAL ASSOCIATION runs the higher net margin — 29.5% vs 6.2%, a 23.3% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 8.7%). ZIONS BANCORPORATION, NATIONAL ASSOCIATION produced more free cash flow last quarter ($952.0M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 9.6%).
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.
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
TOST vs ZION — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $891.0M |
| Net Profit | $101.0M | $263.0M |
| Gross Margin | 25.9% | — |
| Operating Margin | 5.2% | — |
| Net Margin | 6.2% | 29.5% |
| Revenue YoY | 22.0% | 8.7% |
| Net Profit YoY | 215.6% | 21.8% |
| EPS (diluted) | $0.18 | $1.77 |
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 | $891.0M | ||
| Q3 25 | $1.6B | $861.0M | ||
| Q2 25 | $1.6B | $838.0M | ||
| Q1 25 | $1.3B | $795.0M | ||
| Q4 24 | $1.3B | $820.0M | ||
| Q3 24 | $1.3B | $792.0M | ||
| Q2 24 | $1.2B | $777.0M | ||
| Q1 24 | $1.1B | $742.0M |
| Q4 25 | $101.0M | $263.0M | ||
| Q3 25 | $105.0M | $222.0M | ||
| Q2 25 | $80.0M | $244.0M | ||
| Q1 25 | $56.0M | $170.0M | ||
| Q4 24 | $32.0M | $216.0M | ||
| Q3 24 | $56.0M | $214.0M | ||
| Q2 24 | $14.0M | $201.0M | ||
| Q1 24 | $-83.0M | $153.0M |
| 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% | 29.5% | ||
| Q3 25 | 6.4% | 25.8% | ||
| Q2 25 | 5.2% | 29.1% | ||
| Q1 25 | 4.2% | 21.4% | ||
| Q4 24 | 2.4% | 26.3% | ||
| Q3 24 | 4.3% | 27.0% | ||
| Q2 24 | 1.1% | 25.9% | ||
| Q1 24 | -7.7% | 20.6% |
| Q4 25 | $0.18 | $1.77 | ||
| Q3 25 | $0.16 | $1.48 | ||
| Q2 25 | $0.13 | $1.63 | ||
| Q1 25 | $0.09 | $1.13 | ||
| Q4 24 | $0.09 | $1.34 | ||
| Q3 24 | $0.07 | $1.37 | ||
| Q2 24 | $0.02 | $1.28 | ||
| Q1 24 | $-0.15 | $0.96 |
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 | — |
| Total DebtLower is stronger | — | $1.5B |
| Stockholders' EquityBook value | $2.1B | $7.2B |
| Total Assets | $3.1B | $89.0B |
| Debt / EquityLower = less leverage | — | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $903.0M | — | ||
| Q3 24 | $761.0M | — | ||
| Q2 24 | $691.0M | — | ||
| Q1 24 | $578.0M | — |
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $970.0M | ||
| Q1 25 | — | $964.0M | ||
| Q4 24 | — | $950.0M | ||
| Q3 24 | — | $548.0M | ||
| Q2 24 | — | $546.0M | ||
| Q1 24 | — | $544.0M |
| Q4 25 | $2.1B | $7.2B | ||
| Q3 25 | $2.0B | $6.9B | ||
| Q2 25 | $1.8B | $6.6B | ||
| Q1 25 | $1.7B | $6.3B | ||
| Q4 24 | $1.5B | $6.1B | ||
| Q3 24 | $1.4B | $6.4B | ||
| Q2 24 | $1.3B | $6.0B | ||
| Q1 24 | $1.2B | $5.8B |
| Q4 25 | $3.1B | $89.0B | ||
| Q3 25 | $3.0B | $88.5B | ||
| Q2 25 | $2.8B | $88.9B | ||
| Q1 25 | $2.6B | $88.0B | ||
| Q4 24 | $2.4B | $88.8B | ||
| Q3 24 | $2.2B | $87.0B | ||
| Q2 24 | $2.2B | $87.6B | ||
| Q1 24 | $2.1B | $87.1B |
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.09× | ||
| Q1 24 | — | 0.09× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $178.0M | $952.0M |
| FCF MarginFCF / Revenue | 10.9% | 106.8% |
| Capex IntensityCapex / Revenue | 1.0% | 13.6% |
| Cash ConversionOCF / Net Profit | 1.92× | 4.08× |
| TTM Free Cash FlowTrailing 4 quarters | $608.0M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $194.0M | $1.1B | ||
| Q3 25 | $165.0M | $438.0M | ||
| Q2 25 | $223.0M | $-62.0M | ||
| Q1 25 | $79.0M | $179.0M | ||
| Q4 24 | $147.0M | $1.1B | ||
| Q3 24 | $109.0M | $119.0M | ||
| Q2 24 | $124.0M | $251.0M | ||
| Q1 24 | $-20.0M | $261.0M |
| Q4 25 | $178.0M | $952.0M | ||
| Q3 25 | $153.0M | $413.0M | ||
| Q2 25 | $208.0M | $-93.0M | ||
| Q1 25 | $69.0M | $152.0M | ||
| Q4 24 | $134.0M | $1.1B | ||
| Q3 24 | $97.0M | $97.0M | ||
| Q2 24 | $108.0M | $234.0M | ||
| Q1 24 | $-33.0M | $231.0M |
| Q4 25 | 10.9% | 106.8% | ||
| Q3 25 | 9.4% | 48.0% | ||
| Q2 25 | 13.4% | -11.1% | ||
| Q1 25 | 5.2% | 19.1% | ||
| Q4 24 | 10.0% | 128.2% | ||
| Q3 24 | 7.4% | 12.2% | ||
| Q2 24 | 8.7% | 30.1% | ||
| Q1 24 | -3.1% | 31.1% |
| Q4 25 | 1.0% | 13.6% | ||
| Q3 25 | 0.7% | 2.9% | ||
| Q2 25 | 1.0% | 3.7% | ||
| Q1 25 | 0.7% | 3.4% | ||
| Q4 24 | 1.0% | 11.8% | ||
| Q3 24 | 0.9% | 2.8% | ||
| Q2 24 | 1.3% | 2.2% | ||
| Q1 24 | 1.2% | 4.0% |
| Q4 25 | 1.92× | 4.08× | ||
| Q3 25 | 1.57× | 1.97× | ||
| Q2 25 | 2.79× | -0.25× | ||
| Q1 25 | 1.41× | 1.05× | ||
| Q4 24 | 4.59× | 5.31× | ||
| Q3 24 | 1.95× | 0.56× | ||
| Q2 24 | 8.86× | 1.25× | ||
| Q1 24 | — | 1.71× |
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% |
ZION
Segment breakdown not available.
