Euronet Worldwide vs Toast
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The short version
- Toast is the larger business, with $6.2B of revenue in fiscal 2025 against $4.2B for Euronet Worldwide.
- Toast grew revenue faster (24.1%, against 6.4%).
- Euronet Worldwide kept more of each dollar of sales as operating profit (12.5% operating margin, against 4.8%).
- Investors pay more for each dollar of Toast’s earnings: a P/E of 41.4x against 10.4x for Euronet Worldwide.
| Latest fiscal year | EEFT · FY25 | TOST · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.0B | $19.3B |
| Revenue | $4.2B | $6.2B |
| Free cash flow | $434M | $608M |
| Net income | $310M | $342M |
| Growth | ||
| Revenue growth | 6.4% | 24.1% |
| 5-year growth | 11.3% | 49.5% |
| Share count change | −4.8% | 2.7% |
| Profitability | ||
| Gross margin | — | 25.9% |
| Operating margin | 12.5% | 4.8% |
| Net margin | 7.3% | 5.6% |
| FCF margin | 10.2% | 9.9% |
| Return on capital | 29.9% | — |
| Return on equity | 24.4% | 18.6% |
| Balance sheet | ||
| Net debt | $32.2M | −$2.0B |
| Net debt / EBITDA | 0.1x | −5.6x |
| Dividends and buybacks | $668M | $107M |
| Valuation & quality | ||
| P/E | 10.4x | 41.4x |
| Piotroski F-score | 7 | 7 |
Revenue
FY16
EEFT $2.0B
TOST —
FY17
EEFT $2.3B
TOST —
FY18
EEFT $2.5B
TOST —
FY19
EEFT $2.8B
TOST $665M
FY20
EEFT $2.5B
TOST $823M
FY21
EEFT $3.0B
TOST $1.7B
FY22
EEFT $3.4B
TOST $2.7B
FY23
EEFT $3.7B
TOST $3.9B
FY24
EEFT $4.0B
TOST $5.0B
FY25
EEFT $4.2B
TOST $6.2B
EEFT
TOST
Operating margin
FY16
EEFT 12.8%
TOST —
FY17
EEFT 11.8%
TOST —
FY18
EEFT 14.1%
TOST —
FY19
EEFT 17.3%
TOST −32.0%
FY20
EEFT 1.9%
TOST −26.7%
FY21
EEFT 6.1%
TOST −13.4%
FY22
EEFT 11.5%
TOST −14.1%
FY23
EEFT 11.7%
TOST −7.4%
FY24
EEFT 12.6%
TOST 0.3%
FY25
EEFT 12.5%
TOST 4.8%
EEFT
TOST
Free cash flow
FY16
EEFT $304M
TOST —
FY17
EEFT $189M
TOST —
FY18
EEFT $285M
TOST —
FY19
EEFT $373M
TOST −$135M
FY20
EEFT $156M
TOST −$153M
FY21
EEFT $314M
TOST −$10.0M
FY22
EEFT $644M
TOST −$172M
FY23
EEFT $549M
TOST $93.0M
FY24
EEFT $616M
TOST $306M
FY25
EEFT $434M
TOST $608M
EEFT
TOST
Return on capital
FY16
EEFT 24.1%
TOST —
FY17
EEFT 15.3%
TOST —
FY18
EEFT 25.5%
TOST —
FY19
EEFT 32.8%
TOST —
FY20
EEFT 2.1%
TOST —
FY21
EEFT 9.0%
TOST —
FY22
EEFT 17.6%
TOST —
FY23
EEFT 17.6%
TOST —
FY24
EEFT 24.2%
TOST —
FY25
EEFT 29.9%
TOST —
EEFT
TOST
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.