COMPARE · Reviewed August 7, 2026
FOUR vs TOST
Verdict: Side-by-side breakdown using the Bull Rankings model. FOUR scored 74.5, TOST scored 78.4 — TOST leads.
Compare another set
FOUR
Shift4 Payments, Inc.
74.5
$43.36 · $4.3B
fundamentals as of
Score gap
3.9
TOST leads
TOST
Toast, Inc.
78.4
$34.72 · $20.1B
fundamentals as of
The model, pillar by pillar (0–100 each)
FOUR
stronger →← stronger
TOST
55
Qualityreturns · margins · balance sheet
68
100
Growthrevenue & earnings expansion
100
76
Valuevaluation vs sector peers
71
FOUR and TOST split the three pillars evenly.
Fundamentals, head-to-head
FOUR
TOST
$433mC
FCF
$576mC+
+32.4%A
Rev
+23.0%A-
2.57D
D/E
—
49.8xC+
P/E
43.9xC+
0.38A
PEG
0.23A
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
FOUR
TOST
39% below
Price vs fair valuelower is cheaper
137% above
~0%/yr
Growth the price implies10-yr FCF · lower = less priced in
~40%/yr
+32%
1-yr DCF upside
-67%
+65%
5-yr DCF upside
-58%
+125%
10-yr DCF upside
-40%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
FOUR
Why this score
- Buying back stock
TOST
Why this score
- Diluting shareholders
The companies
FOURShift4 Payments, Inc.
Why now
Software - Infrastructure · market cap $4.3b. Down 53% from 52-week high of $92.79 — deep drawdown territory. Revenue growing +32% — in hypergrowth territory. PEG 0.38 — paying under fair value for the growth rate. 21 sell-side analysts rate this a Buy with a mean 1-yr target of $60.29 (implying +39% upside).
Moat
Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong. Software economics — recurring revenue, embedded customer workflows, and high gross margin all compound the moat once a base account is won. Switching costs are the lever.
Risk
D/E 2.57 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Down 53% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Beta 1.41 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return.
TOSTToast, Inc.
Why now
Software - Infrastructure · market cap $20.1b. Down 26% from 52-week high of $46.81 — deep drawdown territory. Revenue growing +23%, comfortably above the S&P median. PEG 0.23 — paying under fair value for the growth rate. 26 sell-side analysts rate this a Buy with a mean 1-yr target of $34.92 (implying +1% upside).
Moat
ROE 24% sits above Buffett's preferred 15% threshold — the equity base is compounding at a rate the market struggles to discount accurately. FCF converts 119% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined. Software economics — recurring revenue, embedded customer workflows, and high gross margin all compound the moat once a base account is won. Switching costs are the lever.
Risk
Beta 1.73 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return. Trailing P/E 44x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates. Software — competitive moat is durable until it isn't; watch net revenue retention, gross margin trends, and any new market entrant with a fundamentally lower price point.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.