Professional
Added to YB: 2026-05-21
Pitch date: 2026-04-24
TOST [neutral]
Toast, Inc.
-19.25%
current return
Author Info
Optimist Fund is a concentrated, global growth-oriented value investment partnership Follow on Twitter/X.
Company Info
Toast, Inc. operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, India, and internationally.
Market Cap
$13.1B
Pitch Price
$28.88
Price Target
135.00 (+481%)
Dividend
N/A
EV/EBITDA
27.07
P/E
34.00
EV/Sales
1.76
Sector
Financial Services
Category
growth
Optimist Fund Portfolio Holding: Toast, Inc.
TOST (holding update): Leading US restaurant POS w/ 20% SMB share, 70% of new openings choose Toast in top markets. $2B ARR +26% YoY, ~$600M FCF in 2025. Expanding into international, enterprise & adjacent verticals (5% ARR, scaling fast). Targets 20%+ rev growth, $10B ARR in 10yrs. Down 50% on AI fears; trades 15x 2026 FCF vs 30%+ FCF growth expected. 5yr PT $135 (365% return, 35% CAGR) on 22% GP growth, 27% FCFPS growth to 2031 at 27x multiple.
Read full article (2 min)