EXFY vs. TOST

Last updated Jun 13, 2026

EXFY (Expensify Inc) and TOST (Toast, Inc.) are both stocks. Both are in the Technology sector — EXFY in Software - Application, TOST in Software - Infrastructure. Over the past 3 years, EXFY returned -43.70%/yr vs 1.57%/yr for TOST. At a 0.37 correlation, their price movements are largely independent.

Performance

EXFY vs. TOST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Expensify Inc (EXFY) and Toast, Inc. (TOST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXFY achieves a -16.56% return, which is significantly higher than TOST's -30.10% return.

EXFY

• 1D: -1.56%
• 1M: 10.53%
• YTD: -16.56%
• 6M: -21.74%
• 1Y: -43.50%
• 3Y*: -43.70%
• 5Y*: —
• 10Y*: —

TOST

• 1D: 0.53%
• 1M: 7.68%
• YTD: -30.10%
• 6M: -29.65%
• 1Y: -40.25%
• 3Y*: 1.57%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EXFY vs. TOST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EXFY Expensify Inc	-16.56%	-54.93%	35.63%	-72.03%	-79.93%	10.69%
TOST Toast, Inc.	-30.10%	-2.58%	99.62%	1.28%	-48.06%	-42.86%

Correlation

The correlation between EXFY and TOST is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	0.37

Fundamentals

Market Cap EXFY : $118.09M TOST : $14.94B
EPS EXFY : -$0.22 TOST : $0.68
PS Ratio EXFY : 0.84 TOST : 2.33
PB Ratio EXFY : 0.85 TOST : 7.51
Total Revenue (TTM) EXFY : $140.00M TOST : $6.45B
Gross Profit (TTM) EXFY : $69.46M TOST : $1.69B
EBITDA (TTM) EXFY : -$13.41M TOST : $430.00M

Return for Risk

EXFY vs. TOST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EXFY

EXFY Risk / Return Rank: 15
EXFY Sharpe Ratio Rank: 11
EXFY Sortino Ratio Rank: 13
EXFY Omega Ratio Rank: 14
EXFY Calmar Ratio Rank: 18
EXFY Martin Ratio Rank: 21

TOST

TOST Risk / Return Rank: 11
TOST Sharpe Ratio Rank: 7
TOST Sortino Ratio Rank: 10
TOST Omega Ratio Rank: 10
TOST Calmar Ratio Rank: 14
TOST Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EXFY vs. TOST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Expensify Inc (EXFY) and Toast, Inc. (TOST). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EXFY	TOST	Difference
Sharpe ratio: Return per unit of total volatility	-0.75	-0.91	+0.16
Sortino ratio: Return per unit of downside risk	-0.92	-1.21	+0.29
Omega ratio: Gain probability vs. loss probability	0.88	0.86	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.65	-0.76	+0.11
Martin ratio: Return relative to average drawdown	-1.03	-1.28	+0.25

EXFY vs. TOST - Sharpe Ratio Comparison

The current EXFY Sharpe Ratio is -0.75, which is comparable to the TOST Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of EXFY and TOST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EXFY vs. TOST - Drawdown Comparison

The maximum EXFY drawdown since its inception was -98.46%, which is greater than TOST's maximum drawdown of -80.57%. Use the drawdown chart below to compare losses from any high point for EXFY and TOST.

Drawdown Indicators

	EXFY	TOST	Difference
Max Drawdown Largest peak-to-trough decline	-98.46%	-80.57%	-17.89%
Max Drawdown (1Y) Largest decline over 1 year	-71.38%	-54.71%	-16.67%
Max Drawdown (3Y) Largest decline over 3 years	-90.86%	-54.71%	-36.15%
Current Drawdown Current decline from peak	-97.40%	-61.97%	-35.43%
Average Drawdown Average peak-to-trough decline	-84.34%	-58.00%	-26.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.00%	32.65%	+12.35%

Volatility

EXFY vs. TOST - Volatility Comparison

The current volatility for Expensify Inc (EXFY) is 7.30%, while Toast, Inc. (TOST) has a volatility of 14.10%. This indicates that EXFY experiences smaller price fluctuations and is considered to be less risky than TOST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXFY	TOST	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	14.10%	-6.80%
Volatility (6M) Calculated over the trailing 6-month period	51.70%	36.64%	+15.06%
Volatility (1Y) Calculated over the trailing 1-year period	62.48%	46.12%	+16.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.23%	61.26%	+18.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.23%	61.26%	+18.97%

Dividends

EXFY vs. TOST - Dividend Comparison

Neither EXFY nor TOST has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

EXFY vs. TOST - Profitability Comparison

The chart below illustrates the profitability comparison between Expensify Inc and Toast, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EXFY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Expensify Inc reported a gross profit of 16.17M and revenue of 33.97M. Therefore, the gross margin over that period was 47.6%.

TOST - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Toast, Inc. reported a gross profit of 447.00M and revenue of 1.63B. Therefore, the gross margin over that period was 27.4%.

EXFY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Expensify Inc reported an operating income of -1.97M and revenue of 33.97M, resulting in an operating margin of -5.8%.

TOST - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Toast, Inc. reported an operating income of 110.00M and revenue of 1.63B, resulting in an operating margin of 6.8%.

EXFY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Expensify Inc reported a net income of -2.34M and revenue of 33.97M, resulting in a net margin of -6.9%.

TOST - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Toast, Inc. reported a net income of 126.00M and revenue of 1.63B, resulting in a net margin of 7.7%.

Frequently Asked Questions

Can I hold both EXFY and TOST in my portfolio?

EXFY and TOST have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EXFY or TOST?

TOST has higher volatility (14.10%) compared to EXFY (7.30%). In terms of maximum drawdown, EXFY dropped -98.46% vs TOST's -80.57%.

Which has better risk-adjusted returns?

EXFY currently has the higher Sharpe Ratio (-0.75 vs -0.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.