TOST vs. FOUR

Last updated Jun 23, 2026

TOST (Toast, Inc.) and FOUR (Shift4 Payments, Inc.) are both stocks. Both operate in the Software - Infrastructure industry within the Technology sector. Over the past 3 years, TOST returned 4.04%/yr vs -14.51%/yr for FOUR. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

TOST vs. FOUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Toast, Inc. (TOST) and Shift4 Payments, Inc. (FOUR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOST achieves a -31.68% return, which is significantly higher than FOUR's -38.75% return.

TOST

• 1D: -1.62%
• 1M: 4.75%
• YTD: -31.68%
• 6M: -34.92%
• 1Y: -42.72%
• 3Y*: 4.04%
• 5Y*: —
• 10Y*: —

FOUR

• 1D: -2.11%
• 1M: -10.80%
• YTD: -38.75%
• 6M: -40.66%
• 1Y: -58.19%
• 3Y*: -14.51%
• 5Y*: -17.32%
• 10Y*: —

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

TOST vs. FOUR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TOST Toast, Inc.	-31.68%	-2.58%	99.62%	1.28%	-48.06%	-46.81%
FOUR Shift4 Payments, Inc.	-38.75%	-39.32%	39.60%	32.92%	-3.45%	-27.90%

Correlation

The correlation between TOST and FOUR is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.54

The correlation between TOST and FOUR has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.

Fundamentals

Market Cap TOST : $14.60B FOUR : $2.84B
EPS TOST : $0.68 FOUR : $1.07
PE Ratio TOST : 35.67 FOUR : 35.95
PEG Ratio TOST : 0.02 FOUR : 1.45
PS Ratio TOST : 2.28 FOUR : 0.93
PB Ratio TOST : 7.34 FOUR : 4.38
Total Revenue (TTM) TOST : $6.45B FOUR : $3.33B
Gross Profit (TTM) TOST : $1.69B FOUR : $1.17B
EBITDA (TTM) TOST : $430.00M FOUR : $503.40M

Return for Risk

TOST vs. FOUR — Risk / Return Rank

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

TOST

TOST Risk / Return Rank: 10
TOST Sharpe Ratio Rank: 6
TOST Sortino Ratio Rank: 8
TOST Omega Ratio Rank: 10
TOST Calmar Ratio Rank: 12
TOST Martin Ratio Rank: 12

FOUR

FOUR Risk / Return Rank: 6
FOUR Sharpe Ratio Rank: 4
FOUR Sortino Ratio Rank: 4
FOUR Omega Ratio Rank: 5
FOUR Calmar Ratio Rank: 8
FOUR Martin Ratio Rank: 8

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.

TOST vs. FOUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Toast, Inc. (TOST) and Shift4 Payments, Inc. (FOUR). 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.

	TOST	FOUR	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	-1.05	+0.12
Sortino ratio: Return per unit of downside risk	-1.26	-1.73	+0.47
Omega ratio: Gain probability vs. loss probability	0.85	0.79	+0.06
Calmar ratio: Return relative to maximum drawdown	-0.78	-0.88	+0.09
Martin ratio: Return relative to average drawdown	-1.28	-1.40	+0.12

TOST vs. FOUR - Sharpe Ratio Comparison

The current TOST Sharpe Ratio is -0.93, which is comparable to the FOUR Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of TOST and FOUR, 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

TOST vs. FOUR - Drawdown Comparison

The maximum TOST drawdown since its inception was -80.57%, which is greater than FOUR's maximum drawdown of -71.65%. Use the drawdown chart below to compare losses from any high point for TOST and FOUR.

Drawdown Indicators

	TOST	FOUR	Difference
Max Drawdown Largest peak-to-trough decline	-80.57%	-71.65%	-8.92%
Max Drawdown (1Y) Largest decline over 1 year	-54.71%	-66.64%	+11.93%
Max Drawdown (3Y) Largest decline over 3 years	-54.71%	-71.65%	+16.94%
Max Drawdown (5Y) Largest decline over 5 years	—	-71.65%	—
Current Drawdown Current decline from peak	-62.83%	-69.31%	+6.48%
Average Drawdown Average peak-to-trough decline	-58.02%	-31.81%	-26.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.40%	41.59%	-8.19%

Volatility

TOST vs. FOUR - Volatility Comparison

The current volatility for Toast, Inc. (TOST) is 13.95%, while Shift4 Payments, Inc. (FOUR) has a volatility of 18.56%. This indicates that TOST experiences smaller price fluctuations and is considered to be less risky than FOUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOST	FOUR	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.95%	18.56%	-4.61%
Volatility (6M) Calculated over the trailing 6-month period	36.63%	47.87%	-11.24%
Volatility (1Y) Calculated over the trailing 1-year period	46.17%	55.57%	-9.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.15%	56.53%	+4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.15%	57.56%	+3.59%

Dividends

TOST vs. FOUR - Dividend Comparison

Neither TOST nor FOUR has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both TOST and FOUR in my portfolio?

TOST and FOUR have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOST or FOUR?

FOUR has higher volatility (18.56%) compared to TOST (13.95%). In terms of maximum drawdown, TOST dropped -80.57% vs FOUR's -71.65%.

Which has better risk-adjusted returns?

TOST currently has the higher Sharpe Ratio (-0.93 vs -1.05), 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.