Shift4 Payments Inc. Class A Common Stock (FOUR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.24	$1.32	+6.5%	—	$1.3B	—
Q1 26	$0.96	$0.97	+1.0%	—	$1.1B	—
Q4 25	$1.6	$1.6	0.0%	—	$1.2B	—
Q3 25	$1.48	$1.47	-0.7%	—	$1.2B	—
Q2 25	$1.2	$1.1	-8.3%	—	$966.2M	—
Q1 25	$0.7	$1.07	+52.9%	—	$848.3M	—
Q4 24	$1.15	$1.35	+17.4%	—	$887M	—
Q3 24	$1.06	$1.04	-1.9%	—	$909.2M	—
Q2 24	$0.87	$0.96	+10.3%	—	$827M	—
Q1 24	$0.62	$0.54	-12.9%	—	$707.4M	—
Q4 23	$0.81	$0.76	-6.2%	—	$705.4M	—
Q3 23	$0.69	$0.82	+18.8%	—	$675.4M	—
Q2 23	$0.52	$0.74	+42.3%	—	$637M	—
Q1 23	$0.36	$0.51	+41.7%	—	$547M	—
Q4 22	$0.39	$0.47	+20.5%	—	$537.7M	—
Q3 22	$0.43	$0.44	+2.3%	—	$547.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.15	—	—	$4.2B	—
FY24	—	$3.36	—	—	$3.3B	—
FY23	—	$1.45	—	—	$2.6B	—
FY22	—	$1.34	—	—	$2B	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$560.6M	$731.4M	$766.9M	$1.4B	$2B	$2.6B	$3.3B	$4.2B
YoY change	—	+30.5%	+4.85%	+78.3%	+45.8%	+28.7%	+29.9%	+25.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	560.6M	731.4M	766.9M	1.4B	2B	2.6B	3.3B	4.2B
Cost of revenue	419.9M	558M	589.1M	1.1B	1.5B	1.9B	2.4B	2.8B
Gross profit	140.7M	173.4M	177.8M	278.4M	470.2M	687.8M	973.1M	1.4B
Gross margin	25.1%	23.7%	23.2%	20.4%	23.6%	26.8%	29.2%	34.2%
Research & development	—	—	—	—	—	—	—	—
Selling, general & administrative	93.3M	133.8M	202M	265.2M	315.6M	377.5M	522.6M	801M
Operating expenses	93.3M	133.8M	189.6M	265.2M	315.6M	377.5M	522.6M	801M
Operating income	7M	-600K	-63.7M	-49M	58.1M	156.5M	251M	337M
Operating margin	1.25%	-0.08%	-8.31%	-3.58%	2.91%	6.1%	7.54%	8.06%
Non-operating income, net	-19.5M	-2.8M	-9.9M	-100K	50.5M	-36.8M	-224.5M	-11M
Pretax income	-59.5M	-54.9M	-113.8M	-77.1M	86.9M	119.5M	-1.6M	195M
Income tax	-4.1M	1.7M	-2.4M	-3.1M	200K	-3.4M	-296.1M	48M
Net income	-55.4M	-56.6M	-111.4M	-74M	86.7M	122.9M	294.5M	147M
Net margin	-9.88%	-7.74%	-14.5%	-5.41%	4.35%	4.79%	8.84%	3.52%
EBITDA	78.4M	63M	21.1M	55.5M	216.8M	395.7M	294.1M	815M
EPS	-1.42	-1.45	-0.43	-0.89	1.34	1.45	3.36	1.15
Diluted EPS	-1.42	-1.45	-0.43	-0.89	1.05	1.43	3.03	1.08

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	675.4M	705.4M	707.4M	827M	909.2M	887M	848.3M	966.2M	1.2B	1.2B	1.1B	1.3B
Cost of revenue	495.1M	510.2M	519.6M	595.2M	641.9M	600.8M	591.3M	673.7M	747.9M	739.1M	729M	849M
Gross profit	180.3M	195.2M	187.8M	231.8M	267.3M	286.2M	257M	292.5M	429M	449.5M	392M	446M
Gross margin	26.7%	27.7%	26.5%	28%	29.4%	32.3%	30.3%	30.3%	36.5%	37.8%	35%	34.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	86.7M	105M	119.5M	125.6M	133.8M	143.7M	179.3M	152.7M	231.4M	237.6M	248M	257M
Operating expenses	86.7M	105M	119.5M	125.6M	133.8M	143.7M	179.3M	152.7M	231.4M	237.6M	248M	257M
Operating income	53.6M	47.6M	23.5M	59.5M	81.9M	86.1M	21.7M	82.2M	111.8M	121.3M	50M	95M
Operating margin	7.94%	6.75%	3.32%	7.19%	9.01%	9.71%	2.56%	8.51%	9.5%	10.2%	4.46%	7.34%
Non-operating income, net	-7.8M	-23.7M	9.1M	-3.7M	-281.6M	51.7M	5.8M	-6.3M	-8M	-2.5M	-2M	4M
Pretax income	47.4M	21.8M	29.9M	52.7M	-208.3M	124.1M	11.4M	55.7M	60.5M	67.4M	-12M	37M
Income tax	900K	2.6M	1.4M	-1.8M	-280.5M	-15.2M	-8.1M	14.6M	27.1M	14.4M	-24M	13M
Net income	46.5M	19.2M	28.5M	54.5M	72.2M	139.3M	19.5M	41.1M	33.4M	53M	12M	24M
Net margin	6.88%	2.72%	4.03%	6.59%	7.94%	15.7%	2.3%	4.25%	2.84%	4.46%	1.07%	1.85%
EBITDA	116.8M	111.2M	95.2M	131M	-122M	189.9M	121.1M	186.2M	253.4M	255.1M	188M	239M
EPS	0.56	—	0.31	0.59	0.78	—	0.24	0.35	0.19	—	-0.01	0.08
Diluted EPS	0.55	—	0.31	0.58	0.74	—	0.2	0.32	0.17	—	-0.01	0.08

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	3.1B	4.4B	—	4.3B	2.9B
Enterprise value	—	—	—	—	4.2B	5.8B	—	7.9B	8.3B
Shares outstanding	39M	39M	45M	54.9M	56.2M	59.7M	67.7M	68.1M	68.1M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	36.2	36.1	—	29.2	57.9
P/S	—	—	—	—	1.58	1.73	—	1.03	0.61
P/B	—	—	—	—	6.54	5.11	—	2.19	4.77
EV/EBITDA	—	—	—	—	19.4	14.6	—	9.74	9.09
EV/Sales	—	—	—	—	2.11	2.25	—	1.9	1.73
Earnings yield	—	—	—	—	2.76%	2.77%	—	3.43%	1.73%
FCF yield	—	—	—	—	-3.33%	5.44%	—	8.7%	12.1%
PEG	—	—	—	—	—	—	—	—	-0.75

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	25.1%	23.7%	23.2%	20.4%	23.6%	26.8%	29.2%	34.2%	34.4%
Operating margin	1.25%	-0.08%	-8.31%	-3.58%	2.91%	6.1%	7.54%	8.06%	7.49%
Net margin	-9.88%	-7.74%	-14.5%	-5.41%	4.35%	4.79%	8.84%	3.52%	2.2%
ROE	-133.8%	172%	-16.6%	-18.5%	18%	14.2%	28.9%	7.51%	6.49%
ROA	-7.5%	-7.22%	-6.26%	-3.16%	3.39%	3.63%	5.84%	1.69%	3.29%
ROIC	1.19%	-0.1%	-8.51%	-5.27%	3.76%	7.15%	9.34%	4.53%	5.09%
Return on tangible assets	10.9%	10.7%	-24.6%	-8.31%	-41.4%	-24.8%	174.9%	-5.41%	-4.82%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.72	0.82	10.4	7.91	3.7	1.64	1.38	1.66	1.21
Quick ratio	0.67	0.75	10.4	7.89	3.68	1.63	1.38	1.66	1.21
Debt / equity	13.4	-19.5	1.5	4.41	3.67	2.05	2.83	2.36	2.62
Debt / assets	0.75	0.82	0.57	0.75	0.69	0.52	0.57	0.53	0.53
Net debt / EBITDA	7	10.1	3.72	9.54	4.9	3.34	5.68	4.48	4.5
Interest coverage	-0.27	-0.07	-1.83	-1.75	3.67	4.72	0.97	2.03	1.61
Effective tax rate	0%	0%	0%	0%	0.23%	0%	0%	24.6%	19.9%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	14.4	18.7	17	24.9	35.5	43	49.2	61.4	66.4
EPS (basic)	-1.42	-1.45	-0.43	-0.89	1.34	1.45	3.36	1.15	1.15
EPS (diluted)	-1.42	-1.45	-0.43	-0.89	1.05	1.43	3.03	1.08	0.64
Book value per share	1.06	-0.84	14.9	7.28	8.56	14.6	15	28.8	7.76
FCF per share	0.42	-0.3	-0.64	-1.5	-1.86	4.04	4.59	5.48	3.63
Cash per share	0.12	0.09	20.6	22.4	12.5	7.62	17.9	14.2	4.51
Capex per share	0.04	0.21	0.43	0.98	1.1	1.53	1.6	1.45	1.53

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.29%	1.12%	2.52%	3.96%	3.1%	3.57%	3.25%	2.37%	2.55%
Capex / operating cash flow	20.3%	-303.7%	-146.2%	-426%	22.6%	24.4%	20.5%	15.6%	20.6%
Payout ratio	-0.36%	-0.35%	-0.45%	0%	0%	—	—	20.4%	0%
Dividend yield	—	—	—	—	0%	—	—	0.7%	0.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	4.8M	3.7M	927.8M	1.2B	702.5M	455M	1.2B	964M
Receivables	55.5M	78.6M	92.7M	205.9M	195M	256.8M	348.7M	742M
Inventory	5.1M	8.5M	1.5M	3.5M	4.8M	3.4M	8.9M	—
Total current assets	70.2M	106.4M	1B	1.5B	991.7M	1.2B	1.9B	2.2B
Property, plant & equipment	26.2M	15.4M	51.7M	95.3M	122.5M	174.5M	229.2M	342M
Goodwill & intangibles	1.2B	1.3B	1.3B	1.5B	2.8B	3.9B	4.9B	11.4B
Total assets	738.7M	784M	1.8B	2.3B	2.6B	3.4B	5B	8.7B
Accounts payable	44.2M	58.1M	60.6M	121.1M	166.7M	204.6M	248.3M	679M
Short-term debt	4.8M	5.3M	900K	4.8M	5.3M	7.8M	697.9M	27M
Total current liabilities	97.8M	129.9M	99.4M	183.8M	268.3M	704.4M	1.4B	1.3B
Long-term debt	548.7M	635.1M	1B	1.8B	1.8B	1.8B	2.2B	4.6B
Total liabilities	697.3M	816.9M	1.1B	1.9B	2.1B	2.5B	4B	6.8B
Shareholders' equity	41.4M	-32.9M	670M	399.7M	480.6M	868.4M	1B	2B
Total debt	553.5M	640.4M	1B	1.8B	1.8B	1.8B	2.9B	4.6B
Net debt	548.7M	636.7M	78.5M	529.7M	1.1B	1.3B	1.7B	3.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	692.3M	455M	522.9M	205M	1.4B	1.2B	1.2B	3B	1.5B	964M	473M	356M
Receivables	232.1M	256.8M	252.2M	310.5M	317.8M	348.7M	330.6M	372.7M	771.5M	742M	694M	809M
Inventory	2.5M	3.4M	2.7M	8.1M	7.1M	8.9M	—	—	—	—	—	—
Total current assets	1B	1.2B	1.2B	927.7M	2.1B	1.9B	1.8B	3.8B	2.7B	2.2B	2.1B	2.1B
Property, plant & equipment	160.5M	174.5M	181.2M	202.7M	214.9M	229.2M	236.1M	248.7M	315.9M	342M	349M	351M
Goodwill & intangibles	2.7B	3.9B	3.8B	4.4B	4.5B	4.9B	4.9B	5B	11B	11.4B	11.4B	11.2B
Total assets	2.6B	3.4B	3.4B	3.5B	5B	5B	5B	7B	9B	8.7B	8.8B	8.7B
Accounts payable	181.3M	204.6M	224.4M	263.9M	252M	248.3M	263M	284.6M	670M	679M	615M	633M
Short-term debt	6.7M	7.8M	7.4M	8.9M	8.7M	697.9M	698.7M	699.4M	717.4M	27M	28M	27M
Total current liabilities	313M	704.4M	700.3M	686.3M	703.4M	1.4B	1.4B	1.5B	2B	1.3B	1.7B	1.7B
Long-term debt	1.8B	1.8B	1.8B	1.8B	2.9B	2.2B	2.2B	3.1B	4.1B	4.6B	4.6B	4.5B
Total liabilities	2.1B	2.5B	2.5B	2.5B	4B	4B	4B	5B	6.8B	6.8B	7B	7B
Shareholders' equity	541M	868.4M	895.8M	958.8M	1B	1B	1B	2B	2.2B	2B	1.8B	1.7B
Total debt	1.8B	1.8B	1.8B	1.8B	2.9B	2.9B	2.9B	3.8B	4.8B	4.6B	4.6B	4.6B
Net debt	1.1B	1.3B	1.3B	1.6B	1.4B	1.7B	1.7B	739.3M	3.3B	3.7B	4.1B	4.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-55.4M	-56.6M	-111.4M	-74M	86.7M	122.9M	294.5M	147M
Depreciation & amortization	70.8M	62.6M	84.2M	104.4M	149.1M	214.6M	296.6M	432M
Stock-based compensation	0	0	66.2M	40.8M	49.6M	57.4M	65.5M	82M
Change in working capital	-6.5M	-28M	-38.3M	-88.4M	16.5M	-48.1M	-108.1M	-63M
Operating cash flow	7.9M	-2.7M	-13.2M	-12.7M	273.9M	375M	527.9M	634M
Capital expenditure	-1.6M	-8.2M	-19.3M	-54.1M	-61.8M	-91.5M	-108.4M	-99M
Investing cash flow	-33.7M	-87.1M	-88.5M	-165.3M	-198.6M	-246.3M	-609.8M	-2.8B
Dividends paid	-200K	-200K	-500K	0	0	—	—	-30M
Share repurchases	0	-8.5M	-900K	-19.5M	-185.9M	-105.4M	-145.9M	-453M
Financing cash flow	31.3M	72M	913.3M	471.2M	-214.6M	-152.2M	929.2M	2.1B
Net change in cash	5.5M	-17.8M	811.6M	293.2M	-139.3M	-23.5M	847.3M	-147M
Free cash flow	16.2M	-11.9M	-28.9M	-82.5M	-104.6M	241.2M	310.6M	373M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	46.5M	19.2M	28.5M	54.5M	72.2M	139.3M	19.5M	40.6M	33M	53M	12M	24M
Depreciation & amortization	55.1M	61.9M	66.1M	69.7M	77.3M	83.5M	85.2M	88.6M	125.7M	133.3M	135M	139M
Stock-based compensation	12.4M	11M	22.8M	14.3M	14.3M	14.1M	26M	15.2M	15.8M	25.2M	16M	31M
Change in working capital	-19.8M	4.6M	-52M	-90.6M	-39.3M	-38.5M	10.6M	-46.3M	-17.2M	-9.5M	-49M	-103M
Operating cash flow	107.7M	101.5M	69.7M	44M	127.6M	174.3M	120.4M	142.5M	172.3M	223.7M	134M	63M
Capital expenditure	-30.9M	-17.5M	-25.7M	-24.2M	-31.5M	-27M	-31.8M	-18.9M	-31.1M	-30.9M	-30M	-30M
Investing cash flow	-30.9M	-150.9M	-24.1M	-324.6M	-34.5M	-153.4M	-65M	-16.7M	-2.6B	-172.8M	57M	-63M
Dividends paid	—	—	—	—	—	—	—	—	-14.5M	-15.5M	-15M	-16M
Share repurchases	0	-8.6M	—	-15.9M	-20M	-110M	-62.9M	-85.2M	-200K	-304.8M	-295M	-26M
Financing cash flow	-9.1M	-27.9M	-29.8M	-12.7M	1.1B	-21.4M	-80.7M	1.2B	965.2M	-536.2M	-401M	-115M
Net change in cash	67.7M	-77.3M	15.8M	-293.3M	1.2B	-500K	-25.3M	1.3B	-1.5B	-485.3M	-210M	-115M
Free cash flow	68.6M	73M	15.4M	16.4M	77.4M	89.1M	44.8M	92.8M	86.7M	148.3M	63M	-9M

Shift4 Payments Inc. Class A Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement