Reading the tape
NYSE: TOST
Toast, Inc.
Technology · Software - Infrastructure
Market Cap
$17.05B
52w High
$49.66
52w Low
$24.35
P/E
50.56
Volume
10.39M
Outstanding Shares
579.70M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -17.94%Revenue (TTM): 24.05%FCF (TTM): 98.69%P/FCF: 0th pct
What changed
The stock fell 17.94% over the last year. Revenue grew 24.05% over the trailing twelve months. Operating margin moved from 0.3% to 4.81%. Free cash flow grew 98.69% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 4.81%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Toast, Inc. operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland.
CEOAman Narang
SectorTechnology
IndustrySoftware - Infrastructure
Employees5,700
IPO dateSep 22, 2021
Valuation
Forward P/E—
EV/EBITDA52.03
Enterprise value$19.35B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth22.05%
Gross margin25.84%▲7.37%vs FY2024
Operating margin4.81%▲1436.65%vs FY2024
ROE16.1%▲1209.32%vs FY2024
Analyst consensus
RatingBuy
Target price$39.76▲35.19%
16
Buy
13
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 7, 2026
Q2 FY26 · EPS est $0.28 · Revenue est $1.63B
View
Congressional Activity
Congress Trades in TOST
STOCK Act disclosures from senators and representatives.
Mark Warner
VAsenateDemocratPurchaseJoint2026-04-13$1,001 - $15,000+18d to disclose