What is the 13F Pro Quality Score for TOST?

13F Pro ranks Toast, Inc. (TOST) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View TOST's current score at https://13fpro.ai/research/TOST (free sign-up required for the full ranking).

Which hedge funds own the most TOST stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of TOST include FMR, Capital International Investors, BlackRock,. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/TOST as soon as new 13F filings post.

Where does 13F Pro source TOST data?

All Toast, Inc. fundamentals and ownership data come directly from SEC EDGAR. Toast, Inc. files with the SEC under CIK 1650164. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is TOST in?

Toast, Inc. (TOST) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

What drives TOST's revenue?

Per Toast, Inc.'s latest 10-Q filed with the SEC on 2026-05-08, the biggest revenue drivers are: Financial technology solutions ($1,323M, +22% YoY); Subscription services ($268M, +28% YoY); Hardware and professional services ($39M, -15% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/TOST.

What are TOST's largest expenses?

Toast, Inc.'s latest 10-Q reports these as the largest expense items: Financial technology solutions cost of revenue ($1,011M, +22% YoY); Sales and marketing ($156M, +17% YoY); Research and development ($97M, +15% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is TOST research updated on 13F Pro?

TOST's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Toast, Inc.(TOST)Stock Analysis

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13F Pro Quality Score

69.5/100

Rank #362 of 2,879 stocksTOP 25%

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

85.1/100

Profitability

69.4/100

Balance Sheet

89.3/100

Earnings Quality

30.0/100

Free Cash Flow

60.8/100

Institutional Flow

18.8/100

Revenue Scale

81.2/100

Dilution Risk

29.2/100

TOST Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Toast, Inc. (TOST), a Technology sector company. 13F Pro's AI-powered ranking engine scores TOST at 69.5/100 on a 32-signal composite quality model, placing it at rank #362 of 2,879 stocks — the top 25% of the AI-ranked universe. TOST scores in the top quartile across balance sheet strength (89.3), revenue growth (85.1), revenue scale (81.2). Areas of concern include institutional flow (18.8) and earnings quality (30.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 29.2/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Toast, Inc. reports quarterly revenue of $1.6B, net income of $126.0M, an operating margin of 6.8%. Top institutional holders of TOST by reported 13-F value include FMR, Capital International Investors, BlackRock,, based on the most recent SEC filings. TOST trades on the NYSE exchange and files with the SEC under CIK 1650164. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate TOST daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Toast, Inc. directly from SEC EDGAR. Toast, Inc.'s 13F Pro composite quality score has ranged between 8 and 82 since 2022, currently 69.5 — an improving long-term trajectory across 52 quarterly and live scoring snapshots.

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Fun facts about Toast, Inc.

Quirks, history, and lore behind TOST — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. software-as-a-service company · mid-cap · listed on NYSE · headquartered in Boston, Massachusetts.
2
The Numbers
Annual revenue in the roughly $1 billion range, growing fast — but it has spent years burning cash while chasing a single, highly fragmented vertical market.
3
The History
Founded in the early 2010s, it went public around 2021 and quickly became one of the more closely watched IPOs in the restaurant-tech space.
4
The Secret
It doesn't just sell software — it bundles point-of-sale hardware, payroll tools, online ordering, and marketing into one platform so its customers never have to leave the ecosystem.
5
The Lore
Its name is a knowing nod to the brutal failure rate of the industry it serves — roughly 60% of restaurants close within their first year.
6
The Giveaway
It's the all-in-one operating system you see on the counter at your favorite brunch spot — those sleek black terminals taking your eggs-Benedict order and your credit card.

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What's Driving TOST's Business? Latest 10-Q Breakdown

AI-extracted from Toast, Inc.'s 10-Q filed 2026-05-08 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Toast delivered $1.63B in Q1 revenue (+22% YoY), driven by financial technology solutions growth to $1.32B (+22%) and subscription services reaching $268M (+28%), as the platform served 171,000 locations and processed $51.3B in GPV.

Biggest Revenue Drivers

Total revenue: $1,630M+22% YoY

Financial technology solutions$1,323M+22% YoY

Driven by higher Gross Payment Volume and increased number of Locations on the Toast platform

Subscription services$268M+28% YoY

Growth attributable to higher number of Locations and continued product adoption

Hardware and professional services$39M-15% YoY

Largest Expense Items

Financial technology solutions cost of revenue$1,011M+22% YoY

Higher costs associated with increased gross payment volume

Sales and marketing$156M+17% YoY

Primarily driven by higher employee-related costs

Research and development$97M+15% YoY

Increase primarily driven by higher employee-related costs

General and administrative$84M+6% YoY

Watch Items from the Filing

Non-cancellable hardware supplier purchase obligations totaled $231M all due within 12 months, representing significant near-term capital commitment.
Warrant liability declined from $19M to $11M, generating $8M gain in fair value remeasurement; 1M shares could be required upon exercise as of March 31, 2026.
Share repurchase program increased by $500M in February 2026; company repurchased $327M of stock in Q1 2026, leaving $259M authorized remaining.
ARR reached $2,151M (+26% YoY) with 171,000 Locations served (+22% YoY) and GPV of $51.3B (+22% YoY), indicating strong platform adoption and payment processing scale.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$1.6B

Net Income

Q1 2026

$126.0M

Free Cash Flow

Q1 2026

$115.0M

Operating Margin

Q1 2026

6.8%

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+28.3% YoY

$4.96BFY 2024

FY21 $1.71BFY22 $2.73BFY23 $3.87BFY24 $4.96B

Net Income

+107.7% YoY

$19.0MFY 2024

FY21 $-487.0MFY22 $-275.0MFY23 $-246.0MFY24 $19.0M

Operating Income

+105.6% YoY

$16.0MFY 2024

FY21 $-228.0MFY22 $-384.0MFY23 $-287.0MFY24 $16.0M

EPS (Diluted)

+106.4% YoY

$0.03FY 2024

FY21 $-1.68FY22 $-0.72FY23 $-0.47FY24 $0.03

Total Assets

+23.0% YoY

$2.41BFY 2024

FY21 $1.74BFY22 $1.76BFY23 $1.96BFY24 $2.41B

Total Debt

—FY 2024

FY21 $0.00FY22 —FY23 —FY24 —

Op. Cash Flow

+166.7% YoY

$360.0MFY 2024

FY21 $2.0MFY22 $-156.0MFY23 $135.0MFY24 $360.0M

Metric	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Revenue	$4.96B +28.3%	$3.87B +41.5%	$2.73B +60.2%	$1.71B +107.2%	$823.0M +23.8%	$665.0M
Net Income	$19.0M +107.7%	$-246.0M +10.5%	$-275.0M +43.5%	$-487.0M -96.4%	$-248.0M -18.7%	$-209.0M
Operating Income	$16.0M +105.6%	$-287.0M +25.3%	$-384.0M -68.4%	$-228.0M -3.6%	$-220.0M -3.3%	$-213.0M
EPS (Diluted)	$0.03 +106.4%	$-0.47 +34.7%	$-0.72 +57.1%	$-1.68 -572.0%	$-0.25 -15.7%	$-0.22
Total Assets	$2.41B +23.0%	$1.96B +11.2%	$1.76B +1.5%	$1.74B +123.6%	$776.0M	—
Total Debt	—	—	—	$0.00 -100.0%	$172.0M	—
Operating Cash Flow	$360.0M +166.7%	$135.0M +186.5%	$-156.0M -7900.0%	$2.0M +101.6%	$-125.0M +0.8%	$-126.0M

AI Insight: TOST Financial Trends

Toast delivered record operating income of $110M in Q1 2026 despite flat sequential revenue, signaling strong operational leverage.

• Operating income surged 29% YoY from $43M (Q1 2025) to $110M (Q1 2026); operating margin expanded to 6.7%.

• Net income grew 125% YoY to $126M (Q1 2026) from $56M (Q1 2025), highest in dataset.

• Revenue growth decelerated: Q1 2026 flat QoQ at $1,630M; annual growth slowed to 22% YoY versus 40% in Q2 2025.

⚠ Operating cash flow declined to $132M (Q1 2026) from $194M (Q4 2025) and $165M (Q3 2025); monitor working capital drivers.

⚠ Equity fell 6% to $1,990M (Q1 2026) from $2,124M (Q4 2025) despite positive earnings; validate balance sheet movements.

AI Insight: TOST Ratio Trends

Toast has achieved sustained profitability inflection, with operating margin nearly 7x higher than two years ago and ROIC climbing to 22.1% in Q1 2026.

• Operating margin expanded from 0.6% in Q2 2024 to 6.8% in Q1 2026; NPM rose from 1.1% to 7.7% over same period.

• ROIC jumped from 2.2% in Q2 2024 to 22.1% in Q1 2026, with latest quarter marking strongest return on invested capital.

• ROE reached 25.3% in Q1 2026, highest in dataset; ROA climbed to 16.3%, signaling improved capital efficiency across metrics.

⚠ Q4 2025 saw sequential declines in ROE (19.0% vs 20.8%) and ROIC (16.0% vs 16.7%), though Q1 2026 rebounded sharply.

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Available Research

13F Pro tracks comprehensive data for Toast, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of TOST

FMR LLC
$841.2M31,731,204 sh
Capital International Investors
$811.2M30,603,273 sh
BlackRock, Inc.
$720.1M27,164,813 sh
ALLIANCEBERNSTEIN L.P.
$645.3M18,173,374 sh
VANGUARD CAPITAL MANAGEMENT LLC
$584.9M22,063,096 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$537.1M20,258,557 sh
ValueAct Holdings, L.P.
$341.9M12,895,438 sh
MORGAN STANLEY
$309.1M11,659,138 sh
STATE STREET CORP
$269.0M10,147,233 sh
GEODE CAPITAL MANAGEMENT, LLC
$237.6M8,985,342 sh

Fund	Value	Shares
FMR LLC	$841.2M	31,731,204
Capital International Investors	$811.2M	30,603,273
BlackRock, Inc.	$720.1M	27,164,813
ALLIANCEBERNSTEIN L.P.	$645.3M	18,173,374
VANGUARD CAPITAL MANAGEMENT LLC	$584.9M	22,063,096
VANGUARD PORTFOLIO MANAGEMENT LLC	$537.1M	20,258,557
ValueAct Holdings, L.P.	$341.9M	12,895,438
MORGAN STANLEY	$309.1M	11,659,138
STATE STREET CORP	$269.0M	10,147,233
GEODE CAPITAL MANAGEMENT, LLC	$237.6M	8,985,342

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Is TOST a good stock to buy?

13F Pro's AI-powered analysis of Toast, Inc. (TOST) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for TOST are available on the TOST stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own TOST?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling TOST. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Toast, Inc.'s investment landscape.