ToastTOSTRevenue: is the business selling more than it used to?
$6.2B+24% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $6.2B in 2025, compounding +31% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $6.8B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTNet income: how much of that revenue becomes profit?
$342M+1700% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $342M in 2025, against $19M the year before. Earnings per share moved +117% over the last twelve months. Trailing twelve-month profit stands at $486M.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTHow fast is it growing, year by year?
+24.1%revenue growth, FY 2025
Off the axis: 2025 earnings +1700.0% - rebounds off a collapsed prior year.
→Revenue grew +24% in 2025 against a five-year average of +52%. 2025's +1700% earnings rebound off a collapsed base sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTRevenue per share: is your slice growing as fast as the company?
$10.14revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $10.14 in 2025, compounding +24% a year against +31% for TOST as a whole. Dilution absorbed about 7.2 points of that growth. Free cash flow per share stands at $1.00.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTFree cash flow: what is left in real cash after everything?
$608M+99% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $608M in 2025. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $576M.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTWhere does each dollar of revenue actually go?
→Of $6.2B in 2025 sales, $342M reaches net profit - 6 cents on the dollar. The largest single deduction is producing the product ($4.6B).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→10 cents of every sales dollar became free cash in 2025, up 16 points since 2022 - the best conversion in its filed history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is research and development, at 6% of revenue (stock compensation 4%, capital spending 1%). That share has fallen since 2022, so the cost of competing is easing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 19 points to 5% since 2022. After everything, 6 cents of each sales dollar reaches net profit.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→ROE of 24% sits well above ROCE of 13%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTWhat has the market paid for TOST over time?
42.4xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 2.9x sales, the market is paying 18% less than TOST's own 5-year median of 3.5x. Pessimism is priced in - the question is whether it is deserved.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTWhat cash return does the business throw off per dollar of market value?
2.9%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 2.9% of annual free cash flow, more than its 5-year median of 0.9% - the cash is cheaper than usual.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTCould it handle its debt if things went wrong?
→Debt isn't clearly tagged in TOST's filings, so treat the balance sheet with extra care rather than assuming zero.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTIs the company's own capital growing?
→The company's own capital grew from $1.2B in 2023 to $2.0B (+71%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTHow much goes back, and how much leaks out as stock comp?
→Shareholders received $107M in buybacks in 2025. Stock compensation issued $242M of new shares in the same year, offsetting 100% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTHow fast is your ownership being diluted - or concentrated?
→The share count grew 2.7% in 2025, averaging 5.9% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTDoes TOST earn more on its capital than that capital costs?
→TOST earns 13.4% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. That is the highest in TOST's filed history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTTOST has issued or retired shares - did shareholders end up better off?
→TOST's share count rose +212% from 2019 to 2025 while revenue per share grew +197%. Holders are further ahead than before, though the gain per share is smaller than the growth in the business.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
ToastTOSTAre the people running it buying or selling?
→Insiders sold $23M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 34 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30