PAYP vs. TOST: PayPay vs. Toast Stock Comparison

Company Profile

PayPay (PAYP) 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.

Toast (TOST) has traded publicly since September 22, 2021, giving it several years of listed trading history, while PayPay (PAYP) only listed on March 12, 2026 and has a limited public-market record.

Toast (TOST) trades as ordinary local shares, while PayPay (PAYP) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Toast (TOST) has an aggressive beta of 1.66, indicating higher sensitivity to broad-market moves, while PayPay (PAYP) is defensive at 0.24 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk-Adjusted Performance

Risk-Return Positioning

Both PAYP and TOST need 1-year volatility and 1-year return to plot risk-return positioning.

Risk-Adjusted Metrics

Profitability

Toast (TOST) at 25.58% sits in the top ROE quartile, while PayPay (PAYP) at 18.80% is closer to the peer norm — stronger capital efficiency for TOST.

Both PayPay (PAYP) at 15.85% and Toast (TOST) at 7.69% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

PayPay (PAYP) at 32.79% runs core operations around its industry’s norm, while Toast (TOST) at 8.63% operates in the bottom quartile.

Profitability Metrics

Growth

Both PayPay (PAYP) at 25.85% and Toast (TOST) at 24.05% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Both PayPay (PAYP) at 230.06% 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

Financial Strength

current ratio doesn’t apply on either side: PayPay (PAYP) 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-to-equity ratio is set aside for both: PayPay (PAYP) 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

Dividends

Neither PayPay (PAYP) nor Toast (TOST) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

Neither PayPay (PAYP) nor Toast (TOST) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

Dividend Metrics

Valuation

PayPay (PAYP) at 23.30 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.

PayPay (PAYP) at 0.02 sits in the cheaper P/S ratio quartile while Toast (TOST) at 2.82 prices around its industry’s middle — PAYP costs less per dollar of sales, though read it alongside growth and margins.

Both look rich against book: PayPay (PAYP) at 3.75 sits in the upper P/B ratio quartile, and Toast (TOST) at 8.79 prices even higher, above its industry range.

Valuation Metrics