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Earnings transcript
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TOST
Toast, Inc.
$25
0.9
(3.73%)
| Exchange: | NYSE |
| Market Cap: | 14.5B |
| Shares Outstanding: | 502.594M |
Delayed data
About The Company
| Sector: | Technology | |||||
| Industry: | Software – Infrastructure | |||||
| CEO: | Aman Narang | |||||
| Full Time Employees: | 5700 | |||||
| Address: |
| |||||
| Website: | https://www.toasttab.com |
Toast, Inc. delivers a comprehensive cloud-based digital technology platform tailored specifically for the restaurant sector, serving businesses across the United States and Ireland. Its extensive product suite features an array of hardware solutions, including the foundational Toast Point of Sale (POS) system. Toast Flex offers versatile functionality, adaptable as an on-counter order and payment terminal, a server workstation, a guest kiosk, a kitchen display system, or an order fulfillment hub. For enhanced tableside service and expedited table turnover, the company provides Toast Go, a handheld POS device facilitating ordering and payment acceptance directly at the table, alongside Toast Tap, a compact card reader. Beyond hardware, Toast supplies robust software solutions. Toast Order & Pay empowers guests to place orders and settle bills conveniently from their mobile devices. The platform integrates specialized kitchen display system software, streamlining communication between front-of-house staff and the kitchen team. For larger operations, multi-location management software enables customers to centralize operational control, standardize procedures, and efficiently configure menus. Back-office administrative tasks are supported by xtraCHEF tools. Furthermore, Toast Flex for Kitchen provides a larger, mountable hardware solution designed specifically as a kitchen screen. Regarding customer engagement and logistics, Toast offers the Toast Online Ordering & Toast TakeOut app, a software platform enabling restaurants to accept off-premises orders directly through their branded websites. For delivery, they provide First-Party Delivery services, allowing restaurants to manage their own driver fleets and customize delivery parameters such as hours, zones, fees, and minimum order values. Additionally, Toast Delivery Services connects restaurants with a network of third-party delivery drivers, complemented by broader Toast Delivery Partners services. The company’s offerings extend to comprehensive business support services. These encompass loyalty programs and gift card management, payroll and team administration tools, tailored business owner policy insurance with restaurant-specific enhancements, and efficient payment processing solutions. Toast also facilitates financial support through loans advanced to restaurants and purchase financing options. Detailed reporting and analytics solutions provide valuable insights. For broader integration, Toast Partner Connect allows users to discover, select, and seamlessly integrate with various third-party partners via bi-directional APIs. Established in 2011, Toast, Inc. maintains its headquarters in Boston, Massachusetts.
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Revenue Segmentation
EPS
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Earnings Call
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 3,865,000 | 4,960,000 | 6,153,000 |
| Gross Profit | 834,000 | 1,190,000 | 1,585,000 |
| EBITDA | -255,000 | 108,000 | 372,000 |
| Operating Income | -287,000 | 16,000 | 305,000 |
| Net Income | -246,000 | 19,000 | 342,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 1,958,000 | 2,408,000 | 3,145,000 |
| Total Liabilities | 764,000 | 863,000 | 1,021,000 |
| Total Stockholders Equity | 1,194,000 | 1,545,000 | 2,124,000 |
| Total Debt | 44,000 | 24,000 | 40,000 |
| Cash and Cash Equivalents | 605,000 | 903,000 | 1,353,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 135,000 | 360,000 | 661,000 |
| Capital Expenditure | -42,000 | -54,000 | -53,000 |
| Free Cash Flow | 93,000 | 306,000 | 608,000 |
| Net Income | -246,000 | 19,000 | 342,000 |
| Net Change in Cash | 112,000 | 338,000 | 450,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 11,947,087.710 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 12,654,917.355 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 12,362,000 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 3,204,065.906 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 3,393,897.343 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 3,315,340.415 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 1,709,123.832 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 1,842,147.883 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 1,787,099.052 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 2,268,802.482 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 2,403,222.325 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 2,347,596.081 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 2.940 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 3.030 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 2.820 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 12 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 6 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates TOST intrinsic value between $2.99 – $7.62 per share. This depends on revenue growth, margins, and discount rate.
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Common questions about TOST valuation
Is Toast, Inc. (TOST) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Toast, Inc. (TOST) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is TOST a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether TOST trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is TOST’s P/E ratio?
You can see TOST’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for TOST?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is TOST a good long-term investment?
Whether TOST fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
TOST
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Daily snapshot
3.73
Trading Metrics:
| Open: | 24 | Previous Close: | 24.1 | |
| Day Low: | 23.82 | Day High: | 25.15 | |
| Year Low: | 22.26 | Year High: | 49.66 | |
| Price Avg 50: | 26.27 | Price Avg 200: | 32.53 | |
| Volume: | 11.249M | Average Volume: | 11.32M |
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