What is Toast's P/B ratio?

Toast (TOST) P/B ratio is 9.8× as of July 31, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

How is the P/B ratio calculated?

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

What is a good P/B ratio for Toast?

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Toast specifically, the relevant sector benchmark is the current sector median of 6.0×.

Is Toast's P/B ratio high or low?

Toast's P/B ratio of 9.8× is below its own 5-year average of 11.0× and above the sector median of 6.0×. That places the current reading at the 43th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

What is Toast's historical P/B ratio range?

In the available daily series, Toast (TOST) P/B ratio has ranged from a low of 5.7× in 2022 to a high of 30.2× in 2021. The 5-year average is 11.0× and the 5-year median is 10.6×.

What was Toast's P/B ratio in 2025?

Toast (TOST) P/B ratio at the end of 2025 was 9.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Why does Toast's P/B ratio change over time?

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.

Toast (TOST) P/B Ratio — Price-to-Book History

Current

9.8×

As of Jul 31, 2026

5-Year Average

11.0×

All-Time High

30.2×

Nov 9, 2021

All-Time Low

5.7×

Jun 30, 2022

P/B Ratio daily chart for Toast (TOST)

Sep 22, 2021 – Jul 31, 2026 · 1,219 trading days

P/B ratio is not shown for periods when book value was negative.

Historical P/B Ratio for Toast (TOST) from 2020 to 2025


2025	$20.9B	$2.12B	9.8×	-3.6×	Dec 31, 2025
2024	$20.7B	$1.55B	13.4×	+5.2×	Dec 31, 2024
2023	$9.88B	$1.19B	8.3×	-0.2×	Dec 31, 2023
2022	$9.35B	$1.1B	8.5×	-7.4×	Dec 31, 2022
2021	$17.4B	$1.09B	15.9×	—	Dec 31, 2021
2020	$28.8B	—	—	—	Dec 31, 2020

20259.8×
202413.4×
20238.3×
20228.5×
202115.9×
2020—

About P/B Ratio at Toast (TOST)

Toast (TOST) P/B ratio is 9.8× as of July 31, 2026. The 5-year average is 11.0×. The sector median currently stands at 6.0×. The current ratio is at the 43th percentile of its own 10-year history.

Toast (TOST) historical P/B ratio has ranged from a low of 5.7× (2022) to a high of 30.2× (2021) in the available daily series.

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Toast P/B Ratio by Year

Toast P/B Ratio 2025: 9.8×

Toast (TOST) P/B ratio in 2025 was 9.8×, contracted from 13.4× the prior year.

Toast P/B Ratio 2024: 13.4×

Toast (TOST) P/B ratio in 2024 was 13.4×, expanded from 8.3× the prior year.

Toast P/B Ratio 2023: 8.3×

Toast (TOST) P/B ratio in 2023 was 8.3×, contracted from 8.5× the prior year.

Toast P/B Ratio 2022: 8.5×

Toast (TOST) P/B ratio in 2022 was 8.5×, contracted from 15.9× the prior year.

Toast P/B Ratio 2021: 15.9×

Toast (TOST) P/B ratio in 2021 was 15.9×.

Sector peers by P/B Ratio — chart

Current ratio vs. sector peers. Highlighted bar is this company.

Sector peers by P/B Ratio — table

Technology peers of Toast (TOST), ranked by P/B ratio.


ON Semiconductor (ON)	3.4×
Duolingo (DUOL)	3.3×
Unity Software (U)	3.2×
Synopsys (SNPS)	3.0×
Science Applications International (SAIC)	2.9×
Zebra Technologies (ZBRA)	2.9×
Zoom Communications (ZM)	2.9×
IREN (IREN)	2.8×
Teledyne Technologies (TDY)	2.8×
Trimble (TRMB)	2.7×
Twilio (TWLO)	2.5×
First Solar (FSLR)	2.1×
EPAM Systems (EPAM)	2.1×
IonQ (IONQ)	2.1×
Okta (OKTA)	1.9×
Roper Technologies (ROP)	1.9×
Super Micro Computer (SMCI)	1.8×
Lyft (LYFT)	1.7×
Block (XYZ)	1.7×
Hewlett Packard Enterprise (HPE)	1.5×
Fidelity National Information Services (FIS)	1.5×
Fiserv (FISV)	1.1×
Sunrun (RUN)	1.0×
Strategy (MSTR)	0.9×
Amkor Technology (AMKR)	0.0×

ON Semiconductor (ON)
3.4×
Duolingo (DUOL)
3.3×
Unity Software (U)
3.2×
Synopsys (SNPS)
3.0×
Science Applications International (SAIC)
2.9×
Zebra Technologies (ZBRA)
2.9×
Zoom Communications (ZM)
2.9×
IREN (IREN)
2.8×
Teledyne Technologies (TDY)
2.8×
Trimble (TRMB)
2.7×
Twilio (TWLO)
2.5×
First Solar (FSLR)
2.1×
EPAM Systems (EPAM)
2.1×
IonQ (IONQ)
2.1×
Okta (OKTA)
1.9×
Roper Technologies (ROP)
1.9×
Super Micro Computer (SMCI)
1.8×
Lyft (LYFT)
1.7×
Block (XYZ)
1.7×
Hewlett Packard Enterprise (HPE)
1.5×
Fidelity National Information Services (FIS)
1.5×
Fiserv (FISV)
1.1×
Sunrun (RUN)
1.0×
Strategy (MSTR)
0.9×
Amkor Technology (AMKR)
0.0×

Frequently asked questions

Current

9.8×

As of Jul 31, 2026

5-Year Average

11.0×

All-Time High

30.2×

Nov 9, 2021

All-Time Low

5.7×

Jun 30, 2022

P/B Ratio daily chart for Toast (TOST)

Sep 22, 2021 – Jul 31, 2026 · 1,219 trading days

P/B ratio is not shown for periods when book value was negative.

Historical P/B Ratio for Toast (TOST) from 2020 to 2025


2025	$20.9B	$2.12B	9.8×	-3.6×	Dec 31, 2025
2024	$20.7B	$1.55B	13.4×	+5.2×	Dec 31, 2024
2023	$9.88B	$1.19B	8.3×	-0.2×	Dec 31, 2023
2022	$9.35B	$1.1B	8.5×	-7.4×	Dec 31, 2022
2021	$17.4B	$1.09B	15.9×	—	Dec 31, 2021
2020	$28.8B	—	—	—	Dec 31, 2020

20259.8×
202413.4×
20238.3×
20228.5×
202115.9×
2020—

About P/B Ratio at Toast (TOST)

Toast (TOST) P/B ratio is 9.8× as of July 31, 2026. The 5-year average is 11.0×. The sector median currently stands at 6.0×. The current ratio is at the 43th percentile of its own 10-year history.

Toast (TOST) historical P/B ratio has ranged from a low of 5.7× (2022) to a high of 30.2× (2021) in the available daily series.

Toast P/B Ratio by Year

Toast P/B Ratio 2025: 9.8×

Toast (TOST) P/B ratio in 2025 was 9.8×, contracted from 13.4× the prior year.

Toast P/B Ratio 2024: 13.4×

Toast (TOST) P/B ratio in 2024 was 13.4×, expanded from 8.3× the prior year.

Toast P/B Ratio 2023: 8.3×

Toast (TOST) P/B ratio in 2023 was 8.3×, contracted from 8.5× the prior year.

Toast P/B Ratio 2022: 8.5×

Toast (TOST) P/B ratio in 2022 was 8.5×, contracted from 15.9× the prior year.

Toast P/B Ratio 2021: 15.9×

Toast (TOST) P/B ratio in 2021 was 15.9×.

Sector peers by P/B Ratio — chart

Current ratio vs. sector peers. Highlighted bar is this company.

Sector peers by P/B Ratio — table

Technology peers of Toast (TOST), ranked by P/B ratio.


ON Semiconductor (ON)	3.4×
Duolingo (DUOL)	3.3×
Unity Software (U)	3.2×
Synopsys (SNPS)	3.0×
Science Applications International (SAIC)	2.9×
Zebra Technologies (ZBRA)	2.9×
Zoom Communications (ZM)	2.9×
IREN (IREN)	2.8×
Teledyne Technologies (TDY)	2.8×
Trimble (TRMB)	2.7×
Twilio (TWLO)	2.5×
First Solar (FSLR)	2.1×
EPAM Systems (EPAM)	2.1×
IonQ (IONQ)	2.1×
Okta (OKTA)	1.9×
Roper Technologies (ROP)	1.9×
Super Micro Computer (SMCI)	1.8×
Lyft (LYFT)	1.7×
Block (XYZ)	1.7×
Hewlett Packard Enterprise (HPE)	1.5×
Fidelity National Information Services (FIS)	1.5×
Fiserv (FISV)	1.1×
Sunrun (RUN)	1.0×
Strategy (MSTR)	0.9×
Amkor Technology (AMKR)	0.0×

ON Semiconductor (ON)
3.4×
Duolingo (DUOL)
3.3×
Unity Software (U)
3.2×
Synopsys (SNPS)
3.0×
Science Applications International (SAIC)
2.9×
Zebra Technologies (ZBRA)
2.9×
Zoom Communications (ZM)
2.9×
IREN (IREN)
2.8×
Teledyne Technologies (TDY)
2.8×
Trimble (TRMB)
2.7×
Twilio (TWLO)
2.5×
First Solar (FSLR)
2.1×
EPAM Systems (EPAM)
2.1×
IonQ (IONQ)
2.1×
Okta (OKTA)
1.9×
Roper Technologies (ROP)
1.9×
Super Micro Computer (SMCI)
1.8×
Lyft (LYFT)
1.7×
Block (XYZ)
1.7×
Hewlett Packard Enterprise (HPE)
1.5×
Fidelity National Information Services (FIS)
1.5×
Fiserv (FISV)
1.1×
Sunrun (RUN)
1.0×
Strategy (MSTR)
0.9×
Amkor Technology (AMKR)
0.0×

P/B Ratio for Toast (TOST) 2021-2026

P/B Ratio daily chart for Toast (TOST)

Historical P/B Ratio for Toast (TOST) from 2020 to 2025

About P/B Ratio at Toast (TOST)

Toast P/B Ratio by Year

Toast P/B Ratio 2025: 9.8×

Toast P/B Ratio 2024: 13.4×

Toast P/B Ratio 2023: 8.3×

Toast P/B Ratio 2022: 8.5×

Toast P/B Ratio 2021: 15.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

P/B Ratio for Toast (TOST) 2021-2026

P/B Ratio daily chart for Toast (TOST)

Historical P/B Ratio for Toast (TOST) from 2020 to 2025

About P/B Ratio at Toast (TOST)

Toast P/B Ratio by Year

Toast P/B Ratio 2025: 9.8×

Toast P/B Ratio 2024: 13.4×

Toast P/B Ratio 2023: 8.3×

Toast P/B Ratio 2022: 8.5×

Toast P/B Ratio 2021: 15.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Toast (TOST) Key Financials

P/B Ratio daily chart for Toast (TOST)

Historical P/B Ratio for Toast (TOST) from 2020 to 2025

About P/B Ratio at Toast (TOST)

Toast P/B Ratio by Year

Toast P/B Ratio 2025: 9.8×

Toast P/B Ratio 2024: 13.4×

Toast P/B Ratio 2023: 8.3×

Toast P/B Ratio 2022: 8.5×

Toast P/B Ratio 2021: 15.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

What is Toast's P/B ratio?

How is the P/B ratio calculated?

What is the P/B ratio?

What is a good P/B ratio for Toast?

Is Toast's P/B ratio high or low?

What is Toast's historical P/B ratio range?

What was Toast's P/B ratio in 2025?

Why does Toast's P/B ratio change over time?

P/B Ratio daily chart for Toast (TOST)

Historical P/B Ratio for Toast (TOST) from 2020 to 2025

About P/B Ratio at Toast (TOST)

Toast P/B Ratio by Year

Toast P/B Ratio 2025: 9.8×

Toast P/B Ratio 2024: 13.4×

Toast P/B Ratio 2023: 8.3×

Toast P/B Ratio 2022: 8.5×

Toast P/B Ratio 2021: 15.9×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

What is Toast's P/B ratio?

How is the P/B ratio calculated?

What is the P/B ratio?

What is a good P/B ratio for Toast?

Is Toast's P/B ratio high or low?

What is Toast's historical P/B ratio range?

What was Toast's P/B ratio in 2025?

Why does Toast's P/B ratio change over time?

Toast (TOST) Key Financials