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Toast is a US-based restaurant technology company that provides point-of-sale, payment processing, and various software services to 134,000 restaurant locations across the United States as of December 2024. The firm generates sales from software subscription fees, as a percentage take rate from each financial transaction it processes, from loan origination and servicing fees from its Toast Capital arm, and from hardware installation and professional services. Unlike competitors, Toast intermediates every payment transaction on its platform; it processed some $159 billion in gross platform volume in 2024. The firm's product offerings span point-of-sale systems, inventory and payroll management, delivery integration, e-commerce ordering, reservation management, and loyalty programs.
2011
5.7K+
LTM Revenue $5.3B
LTM EBITDA $418M
$18.5B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Toast has a last 12-month revenue of $5.3B and a last 12-month EBITDA of $418M.
In the most recent fiscal year, Toast achieved revenue of $5.0B and an EBITDA of $108M.
Toast expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Toast valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $3.9B | $5.0B | XXX | XXX | XXX |
| Gross Profit | $511M | $834M | XXX | XXX | XXX |
| Gross Margin | 13% | 17% | XXX | XXX | XXX |
| EBITDA | -$255M | $108M | XXX | XXX | XXX |
| EBITDA Margin | -7% | 2% | XXX | XXX | XXX |
| Net Profit | -$275M | -$246M | XXX | XXX | XXX |
| Net Margin | -7% | -5% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Toast's stock price is $35.
Toast has current market cap of $19.9B, and EV of $18.5B.
See Toast trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $18.5B | $19.9B | XXX | XXX | XXX | XXX | $0.64 |
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Sign UpAs of April 15, 2025, Toast has market cap of $19.9B and EV of $18.5B.
Toast's trades at 3.5x LTM EV/Revenue multiple, and 44.3x LTM EBITDA.
Analysts estimate Toast's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Toast and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $18.5B | XXX | XXX | XXX |
| EV/Revenue | 3.7x | XXX | XXX | XXX |
| EV/EBITDA | 171.4x | XXX | XXX | XXX |
| P/E | 1047.7x | XXX | XXX | XXX |
| P/E/Growth | 2.9x | XXX | XXX | XXX |
| EV/FCF | 60.5x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpToast's NTM/LTM revenue growth is 22%
Toast's revenue per employee for the last fiscal year averaged $0.9M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, Toast's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Toast's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Toast and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 28% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 2% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -142% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 24% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.9M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 9% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 6% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 7% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 23% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| OrderYOYO | XXX | XXX | XXX | XXX | XXX | XXX |
| Huitongda Network | XXX | XXX | XXX | XXX | XXX | XXX |
| Eagle Eye | XXX | XXX | XXX | XXX | XXX | XXX |
| Agilysys | XXX | XXX | XXX | XXX | XXX | XXX |
| Nuvini | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Toast acquired XXX companies to date.
Last acquisition by Toast was XXXXXXXX, XXXXX XXXXX XXXXXX . Toast acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Toast founded? | Toast was founded in 2011. |
| Where is Toast headquartered? | Toast is headquartered in United States of America. |
| How many employees does Toast have? | As of today, Toast has 5.7K+ employees. |
| Who is the CEO of Toast? | Toast's CEO is Mr. Aman Narang. |
| Is Toast publicy listed? | Yes, Toast is a public company listed on NYS. |
| What is the stock symbol of Toast? | Toast trades under TOST ticker. |
| When did Toast go public? | Toast went public in 2021. |
| Who are competitors of Toast? | Similar companies to Toast include e.g. OrderYOYO, Huitongda Network, Eagle Eye, Agilysys. |
| What is the current market cap of Toast? | Toast's current market cap is $19.9B |
| What is the current revenue of Toast? | Toast's last 12-month revenue is $5.3B. |
| What is the current EBITDA of Toast? | Toast's last 12-month EBITDA is $418M. |
| What is the current EV/Revenue multiple of Toast? | Current revenue multiple of Toast is 3.5x. |
| What is the current EV/EBITDA multiple of Toast? | Current EBITDA multiple of Toast is 44.3x. |
| What is the current revenue growth of Toast? | Toast revenue growth between 2023 and 2024 was 28%. |
| Is Toast profitable? | Yes, Toast is EBITDA-positive (as of the last 12 months). |
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