COMPARE · Data as of August 21, 2026
PGY vs TOST
Verdict: Side-by-side breakdown using the Bull Rankings model. PGY scored 86.2, TOST scored 76.3 — PGY leads.
Compare another set
PGY
Pagaya Technologies Ltd.
86.2
$21.68 · $1.8B
fundamentals as of
Score gap
9.9
PGY leads
TOST
Toast, Inc.
76.3
$36.64 · $21.2B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
- CheapestPGY15.4x
- Fastest growthPGY+25.6%
- Highest qualityPGY70 / 100
- Largest discount to fair valuePGY-58%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
PGY
stronger →← stronger
TOST
70
Qualityreturns · margins · balance sheet
68
92
Growthrevenue & earnings expansion
91
99
Valuevaluation vs sector peers
72
PGY is stronger on 3 of 3 pillars.
Fundamentals, head-to-head
PGY
TOST
$252mC
FCF
$576mC+
+25.6%A-
Rev
+23.0%A-
1.34C
D/E
—
15.4xA-
P/E
46.4xC+
0.04A
PEG
0.23A
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
PGY
TOST
58% below
Price vs fair valuelower is cheaper
150% above
~-14%/yr
Growth the price implies10-yr FCF · lower = less priced in
~41%/yr
+118%
1-yr DCF upside
-69%
+136%
5-yr DCF upside
-60%
+166%
10-yr DCF upside
-43%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
PGY
Why this score
- Durable high returns
- Diluting shareholders
TOST
Why this score
- Diluting shareholders
The companies
PGYPagaya Technologies Ltd.
Why now
Software - Infrastructure · market cap $1.8b. Down 52% from 52-week high of $44.99 — deep drawdown territory. Revenue growing +26% — in hypergrowth territory. PEG 0.04 — paying under fair value for the growth rate. 10 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $29.20 (implying +35% upside).
Moat
ROE 19% sits above Buffett's preferred 15% threshold — the equity base is compounding at a rate the market struggles to discount accurately. 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
Down 52% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Beta 5.37 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return. 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.
TOSTToast, Inc.
Why now
Software - Infrastructure · market cap $21.2b. 20% off the 52-week high of $45.64. 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 $38.62 (implying +5% 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 46x 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.
Where PGY and TOST diverge
On the headline score the gap is 9.9 points in favor of PGY. The widest single difference is Value, where PGY leads by 27.1 points.
- ValuePGY 99.2 · TOST 72.1PGY +27.1
- QualityPGY 70.1 · TOST 67.7level
- GrowthPGY 91.9 · TOST 91.1level
Pillars run 0–100 against sector peers, so a score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.