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