TOST vs. MKSI

Last updated Jun 3, 2026

TOST (Toast, Inc.) and MKSI (MKS Instruments, Inc.) are both stocks. Both are in the Technology sector — TOST in Software - Infrastructure, MKSI in Scientific & Technical Instruments. Over the past 3 years, TOST returned 7.74%/yr vs 51.91%/yr for MKSI. At a 0.41 correlation, their price movements are largely independent.

Performance

TOST vs. MKSI - Performance Comparison

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

Returns By Period

In the year-to-date period, TOST achieves a -25.80% return, which is significantly lower than MKSI's 107.56% return.

TOST

• 1D: -5.01%
• 1M: -9.48%
• YTD: -25.80%
• 6M: -22.11%
• 1Y: -38.71%
• 3Y*: 7.74%
• 5Y*: —
• 10Y*: —

MKSI

• 1D: 4.33%
• 1M: 18.61%
• YTD: 107.56%
• 6M: 106.05%
• 1Y: 303.54%
• 3Y*: 51.91%
• 5Y*: 13.61%
• 10Y*: 24.05%

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

TOST vs. MKSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TOST Toast, Inc.	-25.80%	-2.58%	99.62%	1.28%	-48.06%	-44.47%
MKSI MKS Instruments, Inc.	107.56%	54.37%	2.21%	22.62%	-50.97%	16.00%

Correlation

The correlation between TOST and MKSI is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	0.41

Over the past year, the correlation between TOST and MKSI has dropped to 0.08 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

Fundamentals

Market Cap TOST : $15.86B MKSI : $23.56B
EPS TOST : $0.68 MKSI : $4.77
PE Ratio TOST : 38.74 MKSI : 69.44
PEG Ratio TOST : 0.02 MKSI : 14.63
PS Ratio TOST : 2.48 MKSI : 5.58
PB Ratio TOST : 7.97 MKSI : 8.38
Total Revenue (TTM) TOST : $6.45B MKSI : $4.07B
Gross Profit (TTM) TOST : $1.69B MKSI : $1.84B
EBITDA (TTM) TOST : $430.00M MKSI : $815.00M

Return for Risk

TOST vs. MKSI — Risk / Return Rank

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

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: 15
TOST Martin Ratio Rank: 14

MKSI

MKSI Risk / Return Rank: 98
MKSI Sharpe Ratio Rank: 99
MKSI Sortino Ratio Rank: 97
MKSI Omega Ratio Rank: 97
MKSI Calmar Ratio Rank: 99
MKSI Martin Ratio Rank: 99

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. MKSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Toast, Inc. (TOST) and MKS Instruments, Inc. (MKSI). 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.

	TOST	MKSI	Difference
Sharpe ratio Return per unit of total volatility	-0.85	6.03	-6.88
Sortino ratio Return per unit of downside risk	-1.09	5.02	-6.11
Omega ratio Gain probability vs. loss probability	0.87	1.66	-0.79
Calmar ratio Return relative to maximum drawdown	-0.69	15.21	-15.89
Martin ratio Return relative to average drawdown	-1.19	50.83	-52.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TOST vs. MKSI - Sharpe Ratio Comparison

The current TOST Sharpe Ratio is -0.85, which is lower than the MKSI Sharpe Ratio of 6.03. The chart below compares the historical Sharpe Ratios of TOST and MKSI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TOST	MKSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	6.03	-6.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.28	0.26	-0.54

Drawdowns

TOST vs. MKSI - Drawdown Comparison

The maximum TOST drawdown since its inception was -80.56%, smaller than the maximum MKSI drawdown of -85.67%. Use the drawdown chart below to compare losses from any high point for TOST and MKSI.

Drawdown Indicators

	TOST	MKSI	Difference
Max Drawdown Largest peak-to-trough decline	-80.56%	-85.67%	+5.11%
Max Drawdown (1Y) Largest decline over 1 year	-54.71%	-20.06%	-34.65%
Max Drawdown (3Y) Largest decline over 3 years	-54.71%	-59.11%	+4.40%
Max Drawdown (5Y) Largest decline over 5 years	—	-67.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-69.20%	—
Current Drawdown Current decline from peak	-59.60%	-0.82%	-58.78%
Average Drawdown Average peak-to-trough decline	-57.91%	-45.78%	-12.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.43%	6.00%	+25.43%

Volatility

TOST vs. MKSI - Volatility Comparison

Toast, Inc. (TOST) has a higher volatility of 21.81% compared to MKS Instruments, Inc. (MKSI) at 12.54%. This indicates that TOST's price experiences larger fluctuations and is considered to be riskier than MKSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOST	MKSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.81%	12.54%	+9.27%
Volatility (6M) Calculated over the trailing 6-month period	36.36%	35.95%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	45.83%	50.74%	-4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.36%	50.04%	+11.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.36%	47.00%	+14.36%

Dividends

TOST vs. MKSI - Dividend Comparison

TOST has not paid dividends to shareholders, while MKSI's dividend yield for the trailing twelve months is around 0.21%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MKSI MKS Instruments, Inc.	0.21%	0.55%	0.84%	0.86%	1.04%	0.49%	0.53%	0.73%	1.21%	0.75%	1.14%	1.88%
TOST Toast, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

TOST vs. MKSI - Profitability Comparison

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

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%.

MKSI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MKS Instruments, Inc. reported a gross profit of 507.00M and revenue of 1.08B. Therefore, the gross margin over that period was 47.0%.

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%.

MKSI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MKS Instruments, Inc. reported an operating income of 149.00M and revenue of 1.08B, resulting in an operating margin of 13.8%.

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%.

MKSI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MKS Instruments, Inc. reported a net income of 84.00M and revenue of 1.08B, resulting in a net margin of 7.8%.

Frequently Asked Questions

Can I hold both TOST and MKSI in my portfolio?

TOST and MKSI have a correlation of 0.08, 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 MKSI?

TOST has higher volatility (21.81%) compared to MKSI (12.54%). In terms of maximum drawdown, TOST dropped -80.56% vs MKSI's -85.67%.

Which has better risk-adjusted returns?

MKSI currently has the higher Sharpe Ratio (6.03 vs -0.85), 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.