analyticsVertical SaaS
Data as of Q1 2026
Summary Verdict
SHOP: 5—TOST: 0wins
Rule of 40
40.5SHOP
25.9TOST
check_circleSHOP leads
Revenue Growth
24.5%SHOP
24.0%TOST
check_circleSHOP leads
Gross Margin
49%SHOP
26%TOST
check_circleSHOP leads
FCF Margin
16.0%SHOP
1.9%TOST
check_circleSHOP leads
Operating Margin
11.0%SHOP
5.2%TOST
check_circleSHOP leads
NRR
—SHOP
—TOST
Metric
Rule of 40Efficiency score
SHOP
40.5check_circle
TOST
25.9
Revenue GrowthYoY
SHOP
24.5%check_circle
TOST
24.0%
Gross Margin% of revenue
SHOP
49%check_circle
TOST
26%
FCF MarginFree cash flow
SHOP
16.0%check_circle
TOST
1.9%
Operating MarginGAAP
SHOP
11.0%check_circle
TOST
5.2%
NRRNet retention
SHOP
N/A
TOST
N/A
EV / RevenueValuation multiple
SHOP
12.7x
TOST
2.2xcheck_circle
Market CapUSD
SHOP
$142.1Bcheck_circle
TOST
$14.3B
ARR GrowthYoY
SHOP
N/A
TOST
N/A
CAC PaybackMonths to recover
SHOP
N/A
TOST
N/A
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Analysis
As of Q1 2026, Shopify Inc. trades at 12.7x EV/Revenue versus Toast, Inc. at 2.2x. On the Rule of 40, Shopify Inc. scores 40.5 compared to Toast, Inc.'s 25.9, placing Shopify Inc. ahead in operating efficiency. Gross margins stand at Shopify Inc. 49% vs Toast, Inc. 26%.
Sector Context
Both companies operate in the Vertical SaaS sector. The median columns above show where each company stands relative to their peers.