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Side-by-side financial comparison of Toast, Inc. (TOST) and Zoetis (ZTS). Click either name above to swap in a different company.
Zoetis is the larger business by last-quarter revenue ($2.3B vs $1.6B, roughly 1.4× Toast, Inc.). Zoetis runs the higher net margin — 26.6% vs 6.2%, a 20.4% gap on every dollar of revenue. On growth, Toast, Inc. posted the faster year-over-year revenue change (22.0% vs 2.9%). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs -2.1%).
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.
Zoetis Inc. (/zō-EH-tis/) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock. The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries. Operations outside the United States accounted for 50% of the total re...
TOST vs ZTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $2.3B |
| Net Profit | $101.0M | $601.0M |
| Gross Margin | 25.9% | 71.7% |
| Operating Margin | 5.2% | — |
| Net Margin | 6.2% | 26.6% |
| Revenue YoY | 22.0% | 2.9% |
| Net Profit YoY | 215.6% | -0.2% |
| EPS (diluted) | $0.18 | $1.42 |
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.
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.6B | $2.4B | ||
| Q3 25 | $1.6B | $2.4B | ||
| Q2 25 | $1.6B | $2.5B | ||
| Q1 25 | $1.3B | $2.2B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.3B | $2.4B | ||
| Q2 24 | $1.2B | $2.4B |
| Q1 26 | — | $601.0M | ||
| Q4 25 | $101.0M | $603.0M | ||
| Q3 25 | $105.0M | $721.0M | ||
| Q2 25 | $80.0M | $718.0M | ||
| Q1 25 | $56.0M | $631.0M | ||
| Q4 24 | $32.0M | $581.0M | ||
| Q3 24 | $56.0M | $682.0M | ||
| Q2 24 | $14.0M | $624.0M |
| Q1 26 | — | 71.7% | ||
| Q4 25 | 25.9% | 70.2% | ||
| Q3 25 | 26.5% | 71.5% | ||
| Q2 25 | 25.3% | 73.6% | ||
| Q1 25 | 25.9% | 72.0% | ||
| Q4 24 | 24.9% | 69.5% | ||
| Q3 24 | 24.7% | 70.6% | ||
| Q2 24 | 23.0% | 71.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.2% | 31.9% | ||
| Q3 25 | 5.1% | 37.0% | ||
| Q2 25 | 5.2% | 36.7% | ||
| Q1 25 | 3.2% | 36.5% | ||
| Q4 24 | 2.5% | 31.6% | ||
| Q3 24 | 2.6% | 36.6% | ||
| Q2 24 | 0.4% | 33.0% |
| Q1 26 | — | 26.6% | ||
| Q4 25 | 6.2% | 25.3% | ||
| Q3 25 | 6.4% | 30.0% | ||
| Q2 25 | 5.2% | 29.2% | ||
| Q1 25 | 4.2% | 28.4% | ||
| Q4 24 | 2.4% | 25.1% | ||
| Q3 24 | 4.3% | 28.6% | ||
| Q2 24 | 1.1% | 26.4% |
| Q1 26 | — | $1.42 | ||
| Q4 25 | $0.18 | $1.37 | ||
| Q3 25 | $0.16 | $1.63 | ||
| Q2 25 | $0.13 | $1.61 | ||
| Q1 25 | $0.09 | $1.41 | ||
| Q4 24 | $0.09 | $1.29 | ||
| Q3 24 | $0.07 | $1.50 | ||
| Q2 24 | $0.02 | $1.37 |
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 | — | — |
| Stockholders' EquityBook value | $2.1B | — |
| Total Assets | $3.1B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.0B | $1.7B | ||
| Q4 24 | $903.0M | $2.0B | ||
| Q3 24 | $761.0M | $1.7B | ||
| Q2 24 | $691.0M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $3.3B | ||
| Q3 25 | $2.0B | $5.4B | ||
| Q2 25 | $1.8B | $5.0B | ||
| Q1 25 | $1.7B | $4.7B | ||
| Q4 24 | $1.5B | $4.8B | ||
| Q3 24 | $1.4B | $5.2B | ||
| Q2 24 | $1.3B | $5.0B |
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $15.5B | ||
| Q3 25 | $3.0B | $15.2B | ||
| Q2 25 | $2.8B | $14.5B | ||
| Q1 25 | $2.6B | $14.1B | ||
| Q4 24 | $2.4B | $14.2B | ||
| Q3 24 | $2.2B | $14.4B | ||
| Q2 24 | $2.2B | $14.2B |
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 | — |
| Free Cash FlowOCF − Capex | $178.0M | — |
| FCF MarginFCF / Revenue | 10.9% | — |
| Capex IntensityCapex / Revenue | 1.0% | — |
| Cash ConversionOCF / Net Profit | 1.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | $608.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $194.0M | $893.0M | ||
| Q3 25 | $165.0M | $938.0M | ||
| Q2 25 | $223.0M | $486.0M | ||
| Q1 25 | $79.0M | $587.0M | ||
| Q4 24 | $147.0M | $905.0M | ||
| Q3 24 | $109.0M | $951.0M | ||
| Q2 24 | $124.0M | $502.0M |
| Q1 26 | — | — | ||
| Q4 25 | $178.0M | $732.0M | ||
| Q3 25 | $153.0M | $805.0M | ||
| Q2 25 | $208.0M | $308.0M | ||
| Q1 25 | $69.0M | $438.0M | ||
| Q4 24 | $134.0M | $689.0M | ||
| Q3 24 | $97.0M | $784.0M | ||
| Q2 24 | $108.0M | $370.0M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | 30.7% | ||
| Q3 25 | 9.4% | 33.5% | ||
| Q2 25 | 13.4% | 12.5% | ||
| Q1 25 | 5.2% | 19.7% | ||
| Q4 24 | 10.0% | 29.7% | ||
| Q3 24 | 7.4% | 32.8% | ||
| Q2 24 | 8.7% | 15.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.0% | 6.7% | ||
| Q3 25 | 0.7% | 5.5% | ||
| Q2 25 | 1.0% | 7.2% | ||
| Q1 25 | 0.7% | 6.7% | ||
| Q4 24 | 1.0% | 9.3% | ||
| Q3 24 | 0.9% | 7.0% | ||
| Q2 24 | 1.3% | 5.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.92× | 1.48× | ||
| Q3 25 | 1.57× | 1.30× | ||
| Q2 25 | 2.79× | 0.68× | ||
| Q1 25 | 1.41× | 0.93× | ||
| Q4 24 | 4.59× | 1.56× | ||
| Q3 24 | 1.95× | 1.39× | ||
| Q2 24 | 8.86× | 0.80× |
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% |
ZTS
| Companion Animal | $1.5B | 67% |
| Livestock | $720.0M | 32% |
| Contract Manufacturing & Human Health | $23.0M | 1% |
