 According to Ultimate Guitar, "Milk and Toast and Honey" has a moderately fast tempo of 141 beats per minute.The verse is composed of two repetitions of C–Em–Am–C–F–C–G, with the pre-chorus consisting of two short bars of F–C–G.The first chorus is made up of two sequences of C–F–Am–G, with subsequent choruses and the outro modified up an octave to a repeating pattern of D–G–Bm–A.