Company Valuation: Toast, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 17,520 9,389 9,864 20,704 20,880 17,219 - -
Change - -46.41% 5.06% 109.89% 0.85% -17.53% - -
Enterprise Value (EV) 1 16,254 8,368 8,740 19,287 18,889 15,197 14,315 13,109
Change - -48.52% 4.45% 120.67% -2.06% -19.54% -5.8% -8.42%
P/E -20.7x -25x -39.7x 1,215x 63.4x 31.1x 24.5x 18.9x
PBR 8.68x 8.4x 8.15x 13.5x 9.85x 6.92x 5.03x 3.74x
PEG - 0.4x 1.1x -11x 0x 0.4x 0.9x 0.6x
Capitalization / Revenue 10.3x 3.44x 2.55x 4.17x 3.39x 2.31x 1.95x 1.66x
EV / Revenue 9.53x 3.06x 2.26x 3.89x 3.07x 2.03x 1.62x 1.26x
EV / EBITDA -387x -72.8x 143x 51.7x 29.8x 18.4x 13.7x 9.75x
EV / EBIT -193x -55.1x 8,740x 59x 33.4x 19x 14x 9.95x
EV / FCF -956x -44.3x 94x 63x 31.1x 21.4x 16.2x 12.1x
FCF Yield -0.1% -2.26% 1.06% 1.59% 3.22% 4.67% 6.19% 8.25%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.68 -0.72 -0.46 0.03 0.56 0.9579 1.216 1.578
Distribution rate - - - - - - - -
Net sales 1 1,705 2,731 3,865 4,960 6,153 7,469 8,844 10,375
EBITDA 1 -42 -115 61 373 633 824.2 1,047 1,344
EBIT 1 -84 -152 1 327 566 800.6 1,023 1,318
Net income 1 -487 -275 -246 19 342 566.6 716.2 946.5
Net Debt 1 -1,266 -1,021 -1,124 -1,417 -1,991 -2,021 -2,903 -4,109
Reference price 2 34.71 18.03 18.26 36.45 35.51 29.79 29.79 29.79
Nbr of stocks (in thousands) 504,746 520,738 540,208 568,000 588,000 578,000 - -
Announcement Date 2/15/22 2/16/23 2/15/24 2/19/25 2/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.27x9.71x15.87x0.75% 3,843B
121.59x53.78x87.57x-.--% 454B
21.42x6.06x10.62x1.4% 431B
255.85x22.84x66.87x-.--% 330B
2700.4x45.28x148.08x-.--% 277B
26.03x5.22x16.46x1.46% 239B
86.99x8.45x22.61x-.--% 139B
58.52x15.77x41.53x-.--% 133B
495.26x21.25x83.97x-.--% 99.54B
Average 421.37x 20.93x 54.84x 0.4% 660.56B
Weighted average by Cap. 180.55x 15.31x 31.85x 0.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield