Growth & profitability
- Revenue has grown 49.5% per year over the past 5 years.
- Operating margin has expanded, at 4.7% in the latest year.
TOST Financials Toast, Inc.
7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $6.2B | $342M | 25.9% | 4.7% | $608M | — | $1.4B |
| 2024 | $5.0B | $19M | 24.0% | 0.3% | $306M | — | $903M |
| 2023 | $3.9B | -$246M | 21.6% | -7.4% | $93M | — | $605M |
| 2022 | $2.7B | -$275M | 18.7% | -14.1% | -$189M | — | $547M |
| 2021 | $1.7B | -$487M | 18.4% | -13.4% | -$17M | $0 | $809M |
| 2020 | $823M | -$248M | 17.0% | -26.7% | — | $172M | $582M |
| 2019 | $665M | -$209M | 9.3% | -32.0% | — | — | $150M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $1.6B | $126M | 27.4% | 6.7% | $115M | — | $1.1B |
| Dec '25 | $1.6B | $101M | 25.9% | 5.2% | $178M | — | $1.4B |
| Sep '25 | $1.6B | $105M | 26.5% | 5.1% | $153M | — | $1.4B |
| Jun '25 | $1.6B | $80M | 25.3% | 5.2% | $208M | — | $1.2B |
| Mar '25 | $1.3B | $56M | 25.9% | 3.2% | $69M | — | $1.0B |
| Dec '24 | $1.3B | $32M | 24.9% | 2.4% | $134M | — | $903M |
| Sep '24 | $1.3B | $56M | 24.7% | 2.6% | $97M | — | $761M |
| Jun '24 | $1.2B | $14M | 23.0% | 0.4% | $108M | — | $691M |
| Mar '24 | $1.1B | -$83M | 23.2% | -5.2% | -$33M | — | $578M |
| Dec '23 | $1.0B | -$36M | 21.8% | -5.4% | $81M | — | $605M |
| Sep '23 | $1.0B | -$31M | 21.9% | -5.7% | $38M | — | $514M |
| Jun '23 | $978M | -$98M | 21.3% | -8.2% | $39M | — | $488M |
| Mar '23 | $819M | -$81M | 21.2% | -11.2% | -$65M | — | $451M |
| Dec '22 | $768M | -$100M | 20.6% | -12.9% | — | — | $547M |
| Sep '22 | $752M | -$98M | 20.1% | -11.3% | — | — | $644M |
| Jun '22 | $675M | -$54M | 16.7% | -14.7% | — | — | $697M |
| Mar '22 | $535M | -$23M | 16.6% | -18.9% | — | — | $757M |
| Dec '21 | $512M | $1M | 14.3% | -22.7% | — | $0 | $809M |
| Sep '21 | $486M | -$254M | 17.1% | -11.3% | — | $0 | $1.3B |
| Jun '21 | $426M | -$135M | 20.9% | -12.0% | — | — | $376M |
Valuation over time
How the market has priced TOST against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 1126.1× (Dec '24) to 44.2× (Jun '26).
- The price-to-sales ratio has fallen from 3.8× (Mar '23) to 2.5× (Jun '26).
P/E
P/S
Frequently asked questions
Is TOST growing its revenue and profit?
Over the past 5 years, Toast, Inc.'s revenue has grown 49.5% per year. These are computed facts, not advice.
How much debt does TOST have?
As of FY2025, Toast, Inc. reported — of total debt against $1.4B of cash.
What is TOST's profit margin?
In FY2025, gross margin was 25.9%, operating margin 4.7%, and net margin 5.6%.
What is TOST's P/E ratio?
As of Jun '26, Toast, Inc. traded at a price-to-earnings ratio of about 44.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.