Toast, Inc.

NYSE:TOST Stock Report

Market Cap: US$17.8b

Toast Valuation

Is TOST undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of TOST when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: TOST ($29.49) is trading below our estimate of future cash flow value ($33.61)

Significantly Below Future Cash Flow Value: TOST is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TOST?

Key metric: As TOST is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TOST. This is calculated by dividing TOST's market cap by their current earnings.
What is TOST's PE Ratio?
PE Ratio52.2x
EarningsUS$342.00m
Market CapUS$17.84b

Price to Earnings Ratio vs Peers

How does TOST's PE Ratio compare to its peers?

The above table shows the PE ratio for TOST vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average31.2x
AFRM Affirm Holdings
59.9x32.20%US$17.2b
CPAY Corpay
20.7x19.40%US$21.4b
GPN Global Payments
19.5x24.00%US$21.4b
JKHY Jack Henry & Associates
24.4x4.94%US$12.4b
TOST Toast
50.8x25.68%US$17.8b

Price-To-Earnings vs Peers: TOST is expensive based on its Price-To-Earnings Ratio (50.8x) compared to the peer average (31.2x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does TOST's PE Ratio compare vs other companies in the US Diversified Financial Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ONIT Onity Group
1.8x-26.57%US$335.58m
PMIR PMI Group
0.09xn/aUS$518.61k
ACGX Alliance Creative Group
1.6xn/aUS$271.84k
No more companies available in this PE range
TOST 52.2xIndustry Avg. 18.6xNo. of Companies13PE01224364860+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TOST is expensive based on its Price-To-Earnings Ratio (50.8x) compared to the US Diversified Financial industry average (18.6x).

Price to Earnings Ratio vs Fair Ratio

What is TOST's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TOST PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio52.2x
Fair PE Ratio21.1x

Price-To-Earnings vs Fair Ratio: TOST is expensive based on its Price-To-Earnings Ratio (50.8x) compared to the estimated Fair Price-To-Earnings Ratio (21.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TOST forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$30.29
US$37.22
+22.87%
16.88%US$55.00US$30.00n/a23
Mar ’27US$27.31
US$37.22
+36.28%
16.88%US$55.00US$30.00n/a23
Feb ’27US$31.11
US$46.38
+49.07%
15.94%US$65.00US$36.00n/a24
Jan ’27US$35.51
US$47.76
+34.50%
13.88%US$65.00US$36.00n/a25
Dec ’26US$34.36
US$47.42
+38.02%
14.16%US$65.00US$36.00n/a26
Nov ’26US$36.14
US$48.38
+33.88%
13.32%US$60.00US$36.00n/a26
Oct ’26US$35.60
US$50.21
+41.03%
11.73%US$60.00US$36.00n/a24
Sep ’26US$45.10
US$50.54
+12.07%
11.15%US$60.00US$36.00n/a24
Aug ’26US$46.66
US$45.88
-1.68%
11.57%US$55.00US$35.00n/a24
Jul ’26US$43.03
US$43.34
+0.71%
14.84%US$55.00US$28.00n/a27
Jun ’26US$42.18
US$43.26
+2.57%
14.77%US$55.00US$28.00n/a27
May ’26US$35.30
US$40.96
+16.03%
16.04%US$50.00US$26.40n/a27
Apr ’26US$34.26
US$41.92
+22.36%
17.95%US$60.00US$26.40n/a26
Mar ’26US$38.60
US$42.35
+9.73%
16.39%US$60.00US$27.00US$27.3126
Feb ’26US$40.92
US$40.08
-2.05%
14.26%US$50.00US$27.00US$31.1127
Jan ’26US$36.45
US$39.25
+7.68%
16.74%US$50.00US$25.00US$35.5125
Dec ’25US$43.54
US$38.41
-11.79%
18.03%US$50.00US$25.00US$34.3625
Nov ’25US$30.98
US$29.58
-4.53%
11.69%US$35.00US$23.00US$36.1424
Oct ’25US$28.56
US$27.99
-2.01%
11.87%US$33.00US$19.00US$35.6023
Sep ’25US$24.86
US$27.67
+11.29%
11.69%US$33.00US$19.00US$45.1022
Aug ’25US$25.25
US$28.00
+10.91%
11.90%US$33.00US$19.00US$46.6623
Jul ’25US$25.46
US$27.44
+7.77%
12.47%US$32.60US$19.00US$43.0323
Jun ’25US$24.23
US$27.44
+13.24%
12.47%US$32.60US$19.00US$42.1823
May ’25US$23.00
US$24.52
+6.62%
17.86%US$32.00US$17.00US$35.3022
Apr ’25US$24.33
US$23.74
-2.43%
19.06%US$32.00US$15.00US$34.2621
Mar ’25US$23.38
US$22.43
-4.08%
15.63%US$31.00US$15.00US$38.6020
US$37.22
Fair Value
20.8% undervalued intrinsic discount
23
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/09 18:40
End of Day Share Price 2026/03/06 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Toast, Inc. is covered by 36 analysts. 25 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David KoningBaird
Harshita RawatBernstein
Alexandre FaureBNP Paribas