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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 $5.4B
LTM EBITDA $452M
$22.9B
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 (LTM) of $5.4B and a last 12-month EBITDA of $452M.
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| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $5.4B | XXX | $5.0B | XXX | XXX | XXX |
| Gross Profit | $1.4B | XXX | $1.2B | XXX | XXX | XXX |
| Gross Margin | 26% | XXX | 24% | XXX | XXX | XXX |
| EBITDA | $452M | XXX | $108M | XXX | XXX | XXX |
| EBITDA Margin | 8% | XXX | 2% | XXX | XXX | XXX |
| EBIT | $434M | XXX | $62.0M | XXX | XXX | XXX |
| EBIT Margin | 8% | XXX | 1% | XXX | XXX | XXX |
| Net Profit | $122M | XXX | $19.0M | XXX | XXX | XXX |
| Net Margin | 2% | XXX | 0% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, Toast's stock price is $42.
Toast has current market cap of $24.4B, and EV of $22.9B.
See Toast trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $22.9B | $24.4B | XXX | XXX | XXX | XXX | $0.71 |
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Start Free TrialAs of May 30, 2025, Toast has market cap of $24.4B and EV of $22.9B.
Toast's trades at 4.6x EV/Revenue multiple, and 212.4x EV/EBITDA.
Equity research analysts estimate Toast's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Toast has a P/E ratio of 200.1x.
See valuation multiples for Toast and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $24.4B | XXX | $24.4B | XXX | XXX | XXX |
| EV (current) | $22.9B | XXX | $22.9B | XXX | XXX | XXX |
| EV/Revenue | 4.2x | XXX | 4.6x | XXX | XXX | XXX |
| EV/EBITDA | 50.7x | XXX | 212.4x | XXX | XXX | XXX |
| EV/EBIT | 52.9x | XXX | 369.9x | XXX | XXX | XXX |
| EV/Gross Profit | 16.6x | XXX | n/a | XXX | XXX | XXX |
| P/E | 200.1x | XXX | 1284.3x | XXX | XXX | XXX |
| EV/FCF | 57.9x | XXX | 75.0x | 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.
Start Free TrialToast's last 12 month revenue growth is 21%
Toast's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.2M for the same period.
Toast's rule of 40 is 14% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Toast's rule of X is 61% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Toast and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 21% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Margin | 8% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Growth | 43% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | 14% | XXX | 23% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 61% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.9M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 9% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 7% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 23% | 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 | |
| Unlimit Group | XXX | XXX | XXX | XXX | XXX | XXX |
| 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 |
| 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 |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| 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. Unlimit Group, OrderYOYO, Huitongda Network, Eagle Eye. |
| What is the current market cap of Toast? | Toast's current market cap is $24.4B |
| What is the current revenue of Toast? | Toast's last 12 months revenue is $5.4B. |
| What is the current revenue growth of Toast? | Toast revenue growth (NTM/LTM) is 21%. |
| What is the current EV/Revenue multiple of Toast? | Current revenue multiple of Toast is 4.2x. |
| Is Toast profitable? | Yes, Toast is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Toast? | Toast's last 12 months EBITDA is $452M. |
| What is Toast's EBITDA margin? | Toast's last 12 months EBITDA margin is 8%. |
| What is the current EV/EBITDA multiple of Toast? | Current EBITDA multiple of Toast is 50.7x. |
| What is the current FCF of Toast? | Toast's last 12 months FCF is $396M. |
| What is Toast's FCF margin? | Toast's last 12 months FCF margin is 7%. |
| What is the current EV/FCF multiple of Toast? | Current FCF multiple of Toast is 57.9x. |
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