AFRM vs. TOST: Affirm vs. Toast Stock Comparison
How do Affirm (AFRM) and Toast (TOST) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
Affirm (AFRM) and Toast (TOST) are both classified in the Transaction & Payment Processing Services sub-industry within the broader Financial Services industry, placing them in the closest GICS peer bucket.
| Profile Item | AFRM | TOST |
|---|---|---|
| Name | Affirm Holdings, Inc. | Toast, Inc. Class A Common Stock |
| Country/Region | United States | United States |
| GICS Sector | Financials | Financials |
| GICS Industry Group | Financial Services | Financial Services |
| GICS Industry | Financial Services | Financial Services |
| GICS Sub-Industry | Transaction & Payment Processing Services | Transaction & Payment Processing Services |
| Market Capitalization | 23.09 billion USD | 20.14 billion USD |
| Currency | USD | USD |
| Exchange | Nasdaq | NYSE |
| Listing Date | January 13, 2021 | September 22, 2021 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | AFRM | TOST |
|---|---|---|
| Total Return (1Y) | -6.89% | -5.92% |
| Total Return (3Y, Annualized) | 40.23% | 35.73% |
| Total Return (5Y, Annualized) | -15.36% | -10.54% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | AFRM | TOST |
|---|---|---|
| Volatility (1Y, Annualized) | 58.20% | 45.32% |
| Beta (5Y) | 3.70 | 1.66 |
| Max Drawdown (5Y) | -94.35% | -79.13% |
| Avg. Volume (3M) | 4.46M | 8.73M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | AFRM | TOST |
|---|---|---|
| Sharpe Ratio (1Y) | -0.19 | -0.23 |
| Sortino Ratio (1Y) | -0.28 | -0.31 |
Profitability
ROE (TTM)
Both Affirm (AFRM) at 44.49% and Toast (TOST) at 25.58% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.
AFRM
Financial Services industry group
44.49%
- Max
- 44.78%
- AFRM
- 44.49%
- Q3
- 21.85%
- Median
- 12.91%
- Q1
- 4.48%
- Min
- -18.71%
TOST
Financial Services industry group
25.58%
- Max
- 44.78%
- TOST
- 25.58%
- Q3
- 21.85%
- Median
- 12.91%
- Q1
- 4.48%
- Min
- -18.71%
Net Margin (TTM)
Affirm (AFRM) at 43.86% retains a top-quartile share of revenue as profit, ahead of Toast (TOST) at 7.69%, which keeps about the industry-typical share.
AFRM
Financial Services industry group
43.86%
- Max
- 62.84%
- AFRM
- 43.86%
- Q3
- 28.05%
- Median
- 15.36%
- Q1
- 4.82%
- Min
- -28.52%
TOST
Financial Services industry group
7.69%
- Max
- 62.84%
- Q3
- 28.05%
- Median
- 15.36%
- TOST
- 7.69%
- Q1
- 4.82%
- Min
- -28.52%
Operating Margin (TTM)
Affirm (AFRM) at 14.82% runs core operations around its industry’s norm, while Toast (TOST) at 8.63% operates in the bottom quartile.
AFRM
Financial Services industry group
14.82%
- Max
- 107.33%
- Q3
- 55.90%
- Median
- 30.09%
- AFRM
- 14.82%
- Q1
- 14.60%
- Min
- -44.34%
TOST
Financial Services industry group
8.63%
- Max
- 107.33%
- Q3
- 55.90%
- Median
- 30.09%
- Q1
- 14.60%
- TOST
- 8.63%
- Min
- -44.34%
Profitability Metrics
| Metric | AFRM | TOST |
|---|---|---|
| ROE (TTM) | 44.49% | 25.58% |
| ROA (TTM) | 2.42% | 10.30% |
| Net Margin (TTM) | 43.86% | 7.69% |
| Operating Margin (TTM) | 14.82% | 8.63% |
| Gross Margin (TTM) | -- | -- |
Growth
Revenue Growth
Affirm (AFRM) at 32.15% sits in the top revenue growth quartile, while Toast (TOST) at 24.05% is closer to the peer norm — faster top-line expansion for AFRM.
EPS Growth
Both Affirm (AFRM) at 3,586.67% and Toast (TOST) at 1,766.67% grew per-share earnings faster than their entire industry benchmark ranges for EPS growth — a strong showing on both sides, though a depressed base year can exaggerate the percentage, so the level of earnings matters too.
Growth Metrics
| Metric | AFRM | TOST |
|---|---|---|
| Revenue Growth (YoY) | 32.15% | 24.05% |
| Revenue Growth (3Y CAGR) | 38.96% | 31.10% |
| EPS Growth (YoY) | 3,586.67% | 1,766.67% |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
current ratio doesn’t apply on either side: Affirm (AFRM) in Financial Services and Toast (TOST) in Financial Services both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.
Debt / Equity (MRQ)
debt-to-equity ratio is set aside for both: Affirm (AFRM) in Financial Services and Toast (TOST) in Financial Services run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.
Financial Strength Metrics
| Metric | AFRM | TOST |
|---|---|---|
| Current Ratio (MRQ) | -- | -- |
| Debt / Equity (MRQ) | -- | -- |
| Net Debt / EBITDA | -- | -- |
Dividends
Dividend Yield (TTM)
Neither Affirm (AFRM) nor Toast (TOST) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
AFRM
Financial Services industry group
0.00%
- Max
- 9.77%
- Q3
- 3.92%
- Median
- 1.09%
- AFRM
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
TOST
Financial Services industry group
0.00%
- Max
- 9.77%
- Q3
- 3.92%
- Median
- 1.09%
- TOST
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Neither Affirm (AFRM) nor Toast (TOST) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
AFRM
Financial Services industry group
0.00%
- Max
- 241.07%
- Q3
- 97.36%
- Median
- 25.77%
- AFRM
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
TOST
Financial Services industry group
0.00%
- Max
- 241.07%
- Q3
- 97.36%
- Median
- 25.77%
- TOST
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | AFRM | TOST |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.00% |
| Dividend Payout Ratio (TTM) | 0.00% | 0.00% |
Valuation
P/E Ratio (TTM)
Affirm (AFRM) at 11.80 is near its industry’s usual P/E ratio, while Toast (TOST) at 38.10 sits in the richer quartile — TOST needs stronger growth or earnings quality to justify the premium.
AFRM
Financial Services industry group
11.80
- Max
- 45.85
- Q3
- 24.64
- Median
- 15.37
- AFRM
- 11.80
- Q1
- 9.68
- Min
- 0.16
TOST
Financial Services industry group
38.10
- Max
- 45.85
- TOST
- 38.10
- Q3
- 24.64
- Median
- 15.37
- Q1
- 9.68
- Min
- 0.16
P/S Ratio (TTM)
Toast (TOST) at 2.82 is priced about in line with its industry on P/S ratio, while Affirm (AFRM) at 5.03 sits in the pricier quartile — AFRM costs more per dollar of sales.
AFRM
Financial Services industry group
5.03
- Max
- 9.23
- AFRM
- 5.03
- Q3
- 4.57
- Median
- 2.72
- Q1
- 1.28
- Min
- -0.55
TOST
Financial Services industry group
2.82
- Max
- 9.23
- Q3
- 4.57
- TOST
- 2.82
- Median
- 2.72
- Q1
- 1.28
- Min
- -0.55
P/B Ratio (MRQ)
Both look rich against book: Affirm (AFRM) at 4.01 sits in the upper P/B ratio quartile, and Toast (TOST) at 8.79 prices even higher, above its industry range.
AFRM
Financial Services industry group
4.01
- Max
- 7.79
- AFRM
- 4.01
- Q3
- 3.63
- Median
- 1.57
- Q1
- 0.81
- Min
- -0.39
TOST
Financial Services industry group
8.79
- TOST
- 8.79
- Max
- 7.79
- Q3
- 3.63
- Median
- 1.57
- Q1
- 0.81
- Min
- -0.39
Valuation Metrics
| Metric | AFRM | TOST |
|---|---|---|
| P/E Ratio (TTM) | 11.80 | 38.10 |
| P/S Ratio (TTM) | 5.03 | 2.82 |
| P/B Ratio (MRQ) | 4.01 | 8.79 |
| Free Cash Flow Yield (TTM) | -- | -- |