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Shift4 Payments (FOUR) Financials

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$41.75 +0.88 (+2.14%)
As of 03:27 PM Eastern
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Annual Income Statements for Shift4 Payments

Annual Income Statements for Shift4 Payments

This table shows Shift4 Payments' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
0.00 0.00 -18 -48 75 86 230 79
Consolidated Net Income / (Loss)
-55 -57 -111 -74 87 123 295 147
Net Income / (Loss) Continuing Operations
-55 -57 -111 -74 87 123 295 147
Total Pre-Tax Income
-60 -55 -114 -77 87 120 -1.00 195
Total Operating Income
-13 -4.40 -58 -49 95 115 247 351
Total Gross Profit
141 173 178 278 470 688 973 1,428
Total Revenue
561 731 767 1,368 1,994 2,565 3,331 4,180
Operating Revenue
561 731 767 1,368 1,994 2,565 3,331 4,180
Total Cost of Revenue
420 558 589 1,089 1,523 1,877 2,358 2,752
Operating Cost of Revenue
420 558 589 1,089 1,523 1,877 2,358 2,752
Total Operating Expenses
154 178 235 328 376 573 726 1,077
Selling, General & Admin Expense
87 128 198 236 301 362 500 769
Marketing Expense
6.10 6.30 4.00 29 15 15 22 32
Depreciation Expense
40 40 52 62 97 154 200 290
Impairment Charge
- - - 0.00 0.00 19 0.00 9.00
Other Special Charges / (Income)
- - -6.10 0.20 -37 23 4.00 -23
Total Other Income / (Expense), net
-46 -51 -56 -28 -7.80 5.00 -248 -156
Interest Expense
47 52 57 28 33 32 62 202
Interest & Investment Income
- - 0.00 0.00 26 44 101 59
Other Income / (Expense), net
0.60 1.00 0.60 0.10 -1.20 -7.00 -287 -13
Income Tax Expense
-4.10 1.70 -2.40 -3.10 0.20 -3.00 -296 48
Preferred Stock Dividends Declared
- - - - - 0.00 0.00 40
Net Income / (Loss) Attributable to Noncontrolling Interest
0.00 0.00 -93 -26 12 37 65 28
Basic Earnings per Share
$0.00 $0.00 ($0.86) ($1.78) $2.68 $2.90 $6.72 $2.30
Weighted Average Basic Shares Outstanding
0.00 0.00 45.03M 54.92M 3.86M 1.94M 1.67M 1.33M
Diluted Earnings per Share
$0.00 $0.00 ($0.86) ($1.78) $2.10 $2.86 $6.06 $2.16
Weighted Average Diluted Shares Outstanding
- 0.00 45.03M 54.92M 3.86M 1.94M 1.67M 1.33M
Weighted Average Basic & Diluted Shares Outstanding
- - 80.55M 83.30M 82.90M 86.19M 89.10M 81.24M

Quarterly Income Statements for Shift4 Payments

This table shows Shift4 Payments' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders
33 14 21 39 54 116 17 25 13 25 -1.00
Consolidated Net Income / (Loss)
47 19 29 55 72 139 20 41 33 53 12
Net Income / (Loss) Continuing Operations
47 19 29 55 72 139 20 41 33 53 12
Total Pre-Tax Income
47 22 30 53 -208 124 11 56 61 67 -12
Total Operating Income
45 27 21 59 80 86 25 83 115 128 50
Total Gross Profit
180 195 188 232 267 286 257 293 429 450 392
Total Revenue
675 705 707 827 909 887 848 966 1,177 1,189 1,121
Operating Revenue
675 705 707 827 909 887 848 966 1,177 1,189 1,121
Total Cost of Revenue
495 510 520 595 642 601 591 674 748 739 729
Operating Cost of Revenue
495 510 520 595 642 601 591 674 748 739 729
Total Operating Expenses
136 168 166 173 187 200 232 209 314 322 342
Selling, General & Admin Expense
82 101 115 122 128 137 172 146 224 227 237
Marketing Expense
4.70 3.90 4.40 3.90 6.20 7.20 7.00 7.10 7.70 11 11
Depreciation Expense
40 43 45 47 52 56 56 58 86 91 94
Other Special Charges / (Income)
8.90 1.60 2.10 0.30 1.50 0.10 -3.00 -0.90 -2.80 -16 0.00
Total Other Income / (Expense), net
2.70 -5.60 8.50 -6.50 -289 38 -14 -27 -54 -61 -62
Interest Expense
8.00 8.00 8.10 8.10 18 27 29 43 70 61 65
Interest & Investment Income
12 16 16 4.80 21 80 13 19 18 9.90 5.00
Other Income / (Expense), net
-1.50 -13 0.20 -3.20 -291 -15 2.00 -3.80 -1.60 -9.40 -2.00
Income Tax Expense
0.90 2.60 1.40 -1.80 -281 -15 -9.00 15 27 14 -24
Preferred Stock Dividends Declared
- - - 0.00 0.00 - 0.00 9.50 15 - 16
Net Income / (Loss) Attributable to Noncontrolling Interest
14 5.50 7.90 15 18 23 3.00 7.10 5.30 13 -3.00
Basic Earnings per Share
$1.12 $0.40 $0.62 $1.18 $1.56 $3.36 $0.48 $0.70 $0.38 $0.74 ($0.02)
Weighted Average Basic Shares Outstanding
58.30M 1.94M 66.14M 66.13M 68.45M 1.67M 138.30M 67.80M 68.56M 1.33M 147.28M
Diluted Earnings per Share
$1.10 $0.44 $0.62 $1.16 $1.48 $2.80 $0.40 $0.64 $0.34 $0.78 ($0.02)
Weighted Average Diluted Shares Outstanding
59.43M 1.94M 67.66M 67.25M 91.02M 1.67M 184.31M 89.26M 90.68M 1.33M 147.28M
Weighted Average Basic & Diluted Shares Outstanding
82.43M 86.19M 87.55M 88.59M 90.10M 89.10M 88.62M 88.43M 88.62M 81.24M 79.33M

Annual Cash Flow Statements for Shift4 Payments

This table details how cash moves in and out of Shift4 Payments' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
-4.60 -1.10 924 304 -455 -55 717 -254
Net Cash From Operating Activities
26 8.00 4.00 3.00 275 346 500 634
Net Cash From Continuing Operating Activities
26 8.00 4.00 3.00 275 346 500 634
Net Income / (Loss) Continuing Operations
-55 -57 -111 -74 87 123 295 147
Consolidated Net Income / (Loss)
-55 -57 -111 -74 87 123 295 147
Depreciation Expense
71 63 84 104 149 215 297 432
Amortization Expense
3.70 4.00 5.40 5.90 8.10 8.00 9.00 15
Non-Cash Adjustments To Reconcile Net Income
1.80 -14 59 27 20 26 -46 43
Changes in Operating Assets and Liabilities, net
4.60 12 -33 -60 11 -26 -55 -3.00
Net Cash From Investing Activities
-41 -80 -83 -171 -517 -302 -691 -2,998
Net Cash From Continuing Investing Activities
-41 -80 -83 -171 -517 -302 -691 -2,998
Purchase of Property, Plant & Equipment
-1.60 -8.20 -19 -54 -62 -92 -108 -135
Acquisitions
-1.50 -60 -50 -55 -135 -172 -555 -2,745
Purchase of Investments
- 0.00 0.00 -31 -1.50 0.00 0.00 -3.00
Divestitures
- - - - - 0.00 0.00 24
Sale and/or Maturity of Investments
- - - 0.00 0.00 15 126 3.00
Other Investing Activities, net
-38 -12 -14 -31 -318 -53 -154 -142
Net Cash From Financing Activities
11 71 1,003 471 -215 -110 929 2,055
Net Cash From Continuing Financing Activities
11 71 1,003 471 -215 -110 929 2,055
Repayment of Debt
-5.30 -98 -756 -16 -4.90 0.00 -23 -1,223
Repurchase of Common Equity
- 0.00 0.00 -20 -186 -105 -146 -453
Payment of Dividends
-0.20 -8.70 -1.40 0.00 0.00 -3.00 -20 -120
Issuance of Debt
20 181 1,302 633 0.00 0.00 1,100 2,832
Issuance of Preferred Equity
- - - - - 0.00 0.00 1,000
Issuance of Common Equity
0.00 0.00 100 - - 0.00 0.00 88
Other Financing Activities, net
-3.20 -3.10 359 -126 -24 -2.00 18 -69
Effect of Exchange Rate Changes
- - 0.00 0.00 1.00 11 -21 55
Cash Interest Paid
- - - 21 24 24 24 165
Cash Income Taxes Paid
- - - 0.40 0.70 5.00 14 63

Quarterly Cash Flow Statements for Shift4 Payments

This table details how cash moves in and out of Shift4 Payments' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents
58 -62 -19 -299 1,192 -157 -55 1,869 -1,543 -525 -262
Net Cash From Operating Activities
112 63 115 116 182 145 96 142 172 224 134
Net Cash From Continuing Operating Activities
112 63 115 116 182 145 96 142 172 224 134
Net Income / (Loss) Continuing Operations
47 19 29 55 72 139 20 41 33 53 12
Consolidated Net Income / (Loss)
47 19 29 55 72 139 20 41 33 53 12
Depreciation Expense
55 62 66 70 77 84 85 88 125 133 135
Amortization Expense
2.10 2.10 2.10 2.00 2.50 2.70 3.00 5.40 2.90 3.20 3.00
Non-Cash Adjustments To Reconcile Net Income
0.80 9.60 1.30 10 37 -36 21 10 9.10 2.70 9.00
Changes in Operating Assets and Liabilities, net
7.20 -30 17 -21 -6.40 -45 -33 -3.40 1.30 32 -25
Net Cash From Investing Activities
-43 -151 -40 -342 -54 -256 -85 -47 -2,649 -217 16
Net Cash From Continuing Investing Activities
-43 -151 -40 -342 -54 -256 -85 -47 -2,649 -217 16
Purchase of Property, Plant & Equipment
-31 -18 -26 -24 -32 -27 -31 -24 -43 -37 -38
Acquisitions
- -133 0.00 -301 -4.50 -249 -4.00 - -2,565 -177 98
Purchase of Investments
- - 0.00 - - - -3.00 - - - 0.00
Other Investing Activities, net
-12 -15 -16 -17 -19 -103 -47 -25 -42 -28 -44
Net Cash From Financing Activities
-9.10 14 -88 -71 1,051 -21 -81 1,707 965 -536 -401
Net Cash From Continuing Financing Activities
-9.10 14 -88 -71 1,051 -21 -81 1,707 965 -536 -401
Repayment of Debt
- - 0.00 - - -6.80 -1.00 -496 -28 -698 -3.00
Repurchase of Common Equity
- -8.60 0.00 - -20 -110 -63 -85 - -305 -295
Payment of Dividends
-0.50 -0.20 -0.30 -1.70 -4.60 -13 0.00 -19 -62 -39 -154
Other Financing Activities, net
-8.60 23 -88 -53 -7.00 109 -17 -6.10 -33 -13 51
Effect of Exchange Rate Changes
-1.50 12 -6.50 -2.50 12 -25 15 67 -32 4.70 -11

Annual Balance Sheets for Shift4 Payments

This table presents Shift4 Payments' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets
784 1,779 2,343 2,554 3,388 5,041 8,713
Total Current Assets
106 1,034 1,454 992 1,153 1,910 2,181
Cash & Equivalents
3.70 928 1,232 703 455 1,212 964
Accounts Receivable
79 93 206 195 257 349 742
Prepaid Expenses
8.80 12 13 15 33 51 125
Other Current Assets
6.80 0.00 - 0.00 321 298 350
Plant, Property, & Equipment, net
15 15 18 22 123 165 233
Total Noncurrent Assets
662 731 812 1,540 2,111 2,966 6,299
Goodwill
421 477 538 735 1,111 1,456 2,704
Intangible Assets
209 186 224 647 830 980 3,010
Noncurrent Deferred & Refundable Income Taxes
- - - - 0.00 397 391
Other Noncurrent Operating Assets
32 31 20 30 170 133 194
Total Liabilities & Shareholders' Equity
784 1,779 2,343 2,554 3,388 5,041 8,713
Total Liabilities
774 1,109 1,943 2,073 2,519 4,023 6,756
Total Current Liabilities
130 99 184 268 704 1,379 1,314
Short-Term Debt
5.30 0.90 - - 0.00 687 10
Accounts Payable
58 61 121 167 205 248 679
Accrued Expenses
61 30 43 80 82 120 242
Other Current Liabilities
- 0.00 4.80 5.30 325 308 383
Total Noncurrent Liabilities
644 1,010 1,759 1,805 1,815 2,644 5,442
Long-Term Debt
635 1,005 1,739 1,742 1,750 2,154 4,536
Noncurrent Deferred & Payable Income Tax Liabilities
4.10 2.80 0.30 19 29 61 471
Other Noncurrent Operating Liabilities
4.80 1.70 20 45 36 429 435
Redeemable Noncontrolling Interest
43 - - - - 0.00 10
Total Equity & Noncontrolling Interests
-33 670 400 481 868 1,018 1,947
Total Preferred & Common Equity
-33 460 273 347 653 807 1,442
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
-33 460 273 347 653 807 1,442
Common Stock
150 738 619 703 986 1,063 889
Retained Earnings
-182 -279 -325 -364 -347 -228 -467
Accumulated Other Comprehensive Income / (Loss)
- - 0.00 8.30 14 -28 47
Other Equity Adjustments
- - - - - - 973
Noncontrolling Interest
0.00 210 127 133 215 211 505

Quarterly Balance Sheets for Shift4 Payments

This table presents Shift4 Payments' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets
2,486 2,615 2,591 2,650 3,408 3,494 5,049 5,004 6,991 8,990 8,757
Total Current Assets
961 1,049 973 1,039 1,191 928 2,095 1,844 3,779 2,700 2,061
Cash & Equivalents
673 744 649 692 523 205 1,426 1,167 3,029 1,512 473
Accounts Receivable
262 209 229 232 252 311 318 331 373 772 694
Prepaid Expenses
20 18 17 21 39 50 60 57 65 129 138
Other Current Assets
- - - - 316 279 283 289 312 288 756
Plant, Property, & Equipment, net
21 24 27 28 27 145 157 201 193 209 249
Total Noncurrent Assets
1,504 1,775 1,590 1,583 2,190 2,422 2,797 2,959 3,018 6,081 6,447
Goodwill
777 737 757 755 1,107 1,300 1,324 1,472 1,518 2,466 2,707
Intangible Assets
562 951 645 625 799 920 903 970 970 3,016 2,977
Noncurrent Deferred & Refundable Income Taxes
- - - - - - 371 396 392 412 599
Other Noncurrent Operating Assets
62 31 31 34 77 129 121 120 139 188 164
Total Liabilities & Shareholders' Equity
2,486 2,615 2,591 2,650 3,408 3,494 5,049 5,004 6,991 8,990 8,757
Total Liabilities
2,065 2,089 2,111 2,109 2,512 2,535 4,001 3,988 4,972 6,758 6,977
Total Current Liabilities
289 283 300 313 700 686 703 1,356 1,493 1,958 1,686
Short-Term Debt
- - - - - - - 688 689 699 10
Accounts Payable
177 174 189 181 224 264 252 263 285 670 615
Accrued Expenses
87 83 89 110 95 121 138 101 162 251 267
Other Current Liabilities
4.60 5.80 6.10 6.70 316 283 291 294 345 324 794
Total Noncurrent Liabilities
1,776 1,805 1,811 1,796 1,812 1,849 3,298 2,631 3,479 4,800 5,291
Long-Term Debt
1,740 1,744 1,746 1,748 1,752 1,754 2,838 2,156 3,043 4,020 4,512
Noncurrent Deferred & Payable Income Tax Liabilities
9.30 13 18 17 28 31 33 44 41 349 478
Other Noncurrent Operating Liabilities
27 48 47 30 32 64 427 431 395 431 301
Redeemable Noncontrolling Interest
- - - - - - - - 28 28 10
Total Equity & Noncontrolling Interests
421 526 479 541 896 959 1,048 1,016 1,991 2,204 1,770
Total Preferred & Common Equity
303 392 357 400 675 701 812 805 1,593 1,670 1,653
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 974 973 0.00
Total Common Equity
303 392 357 400 675 701 812 805 619 697 1,653
Common Stock
696 730 734 749 997 1,006 1,049 1,067 852 933 1,297
Retained Earnings
-393 -349 -388 -355 -326 -298 -258 -260 -296 -283 -644
Accumulated Other Comprehensive Income / (Loss)
-0.70 10 10 6.30 3.50 -7.10 21 -2.60 63 47 -5.00
Other Equity Adjustments
- - - - - - - - - - 1,005
Noncontrolling Interest
118 135 123 141 221 258 236 211 398 534 117

Annual Metrics And Ratios for Shift4 Payments

This table displays calculated financial ratios and metrics derived from Shift4 Payments' official financial filings.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding
- - - - - - - 88,619,232.00
DEI Adjusted Shares Outstanding
- - - - - - - 88,619,232.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - 0.89
Growth Metrics
- - - - - - - -
Profitability Metrics
- - - - - - - -
Net Operating Profit after Tax (NOPAT)
-9.17 -3.08 -40 -34 94 118 173 265
Return On Investment Capital (ROIC_SIMPLE)
- - - - 4.25% 4.51% 4.48% 4.08%
Earnings before Interest and Taxes (EBIT)
-13 -3.40 -57 -49 94 108 -40 338
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
62 63 33 61 251 330 266 785
Valuation Ratios
- - - - - - - -
Leverage & Solvency
- - - - - - - -
Liquidity Ratios
- - - - - - - -
Cash Flow Metrics
- - - - - - - -
Free Cash Flow to Firm (FCFF)
0.00 -650 -142 -104 -487 -562 -395 -2,627
Efficiency Ratios
- - - - - - - -
Capital & Investment Metrics
- - - - - - - -
Invested Capital
0.00 647 749 818 1,399 2,079 2,647 5,539
Increase / (Decrease) in Invested Capital
0.00 647 102 69 581 680 568 2,892
Book Value per Share
$0.00 ($2.19) $5.74 $3.29 $4.21 $7.93 $8.95 $5.29
Tangible Book Value per Share
$0.00 ($44.23) ($2.55) ($5.89) ($12.55) ($15.63) ($18.09) ($59.19)
Total Capital
0.00 651 1,676 2,138 2,223 2,619 3,859 6,503
Total Debt
0.00 640 1,006 1,739 1,742 1,750 2,841 4,546
Total Long-Term Debt
0.00 635 1,005 1,739 1,742 1,750 2,154 4,536
Net Debt
0.00 637 79 477 918 1,211 1,629 3,582
Capital Expenditures (CapEx)
1.60 8.20 19 54 62 92 108 135
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 -22 7.20 38 -53 -91 5.60 -87
Debt-free Net Working Capital (DFNWC)
0.00 -18 935 1,270 723 449 1,218 877
Net Working Capital (NWC)
0.00 -24 934 1,270 723 449 531 867
Net Nonoperating Expense (NNE)
46 54 71 40 7.78 -4.83 -122 118
Net Nonoperating Obligations (NNO)
0.00 637 79 418 918 1,211 1,629 3,582
Total Depreciation and Amortization (D&A)
75 67 90 110 157 223 306 447
Earnings Adjustments
- - - - - - - -
Adjusted Basic Earnings per Share
$0.00 $0.00 $0.00 $0.00 $2.68 $2.90 $6.72 $2.30
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00 0.00 0.00 56.17M 59.68M 1.67M 1.33M
Adjusted Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $2.10 $2.86 $6.06 $2.16
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00 0.00 0.00 82.77M 60.99M 1.67M 1.33M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 0.00 0.00 82.90M 86.19M 89.10M 81.24M
Normalized Net Operating Profit after Tax (NOPAT)
4.90 -0.42 -45 -34 58 110 176 254
Debt Service Ratios
- - - - - - - -
Payout Ratios
- - - - - - - -

Quarterly Metrics And Ratios for Shift4 Payments

This table displays calculated financial ratios and metrics derived from Shift4 Payments' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding
- - - - - - - - - 88,619,232.00 81,239,315.00
DEI Adjusted Shares Outstanding
- - - - - - - - - 88,619,232.00 81,239,315.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - 0.28 -0.01
Growth Metrics
- - - - - - - - - - -
Revenue Growth
23.41% 31.19% 29.32% 29.83% 34.62% 25.74% 19.92% 16.83% 29.44% - 32.19%
EBITDA Growth
3.40% -1.14% 50.45% 50.53% -219.42% 100.89% 29.06% 35.55% 284.39% - 61.74%
EBIT Growth
-17.56% -51.69% 88.44% 70.64% -562.27% 397.20% 25.93% 41.61% 153.68% - 77.78%
NOPAT Growth
-15.92% -10.78% 90.89% 64.40% 28.34% 300.02% 113.00% 0.16% 12.41% - -23.00%
Net Income Growth
0.22% -50.13% 39.71% 48.10% 55.27% 625.52% -31.58% -24.59% -53.74% - -40.00%
EPS Growth
-3.51% -48.84% 29.17% 38.10% 34.55% 536.36% -35.48% -44.83% -77.03% - -105.00%
Operating Cash Flow Growth
71.58% -54.84% -28.59% 26.33% 63.03% 130.79% -16.00% 26.92% 20.56% - 39.58%
Free Cash Flow Firm Growth
109.57% -18.43% 48.45% -89.36% -1,768.88% 28.21% -89.61% 64.97% -241.60% - -375.78%
Invested Capital Growth
-0.60% 48.63% 22.42% 63.47% 64.49% 27.30% 34.96% 15.29% 128.51% - 116.51%
Revenue Q/Q Growth
6.03% 4.44% 0.28% 16.91% 9.94% -2.44% -4.36% 13.90% 21.81% - -5.69%
EBITDA Q/Q Growth
18.54% -22.01% 28.74% 26.49% -194.04% 231.19% -26.32% 49.35% 39.23% - -27.06%
EBIT Q/Q Growth
32.11% -66.90% 127.97% 71.17% -457.89% 135.60% -61.74% 191.54% 42.50% - -59.49%
NOPAT Q/Q Growth
17.76% -44.97% -15.47% 200.14% -8.07% 71.52% -54.99% 41.13% 3.18% - -65.20%
Net Income Q/Q Growth
26.36% -58.71% 48.44% 91.23% 32.48% 92.94% -86.00% 110.77% -18.73% - -77.36%
EPS Q/Q Growth
30.95% -60.00% 40.91% 87.10% 27.59% 89.19% -85.71% 60.00% -46.88% - -102.56%
Operating Cash Flow Q/Q Growth
21.55% -43.60% -46.15% 104.76% 56.85% -20.15% -33.56% 46.89% 21.07% - -40.10%
Free Cash Flow Firm Q/Q Growth
111.64% -1,348.62% 41.93% -147.98% -2.54% 46.29% -38.82% 54.19% -900.04% - -11.12%
Invested Capital Q/Q Growth
0.23% 43.67% -1.10% 18.33% 0.85% 11.19% 1.72% 1.08% 99.89% - 5.24%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
26.70% 27.67% 26.55% 28.03% 29.40% 32.27% 30.30% 30.27% 36.45% - 34.97%
EBITDA Margin
14.87% 11.10% 14.25% 15.42% -13.19% 17.73% 13.66% 17.92% 20.48% - 16.59%
Operating Margin
6.62% 3.88% 3.03% 7.16% 8.84% 9.70% 2.99% 8.60% 9.74% - 4.46%
EBIT Margin
6.40% 2.03% 4.61% 6.75% -21.96% 8.02% 3.21% 8.21% 9.60% - 4.28%
Profit (Net Income) Margin
6.88% 2.72% 4.03% 6.59% 7.94% 15.70% 2.30% 4.25% 2.84% - 1.07%
Tax Burden Percent
98.10% 88.07% 95.32% 103.42% -34.66% 112.25% 171.05% 73.79% 55.21% - -100.00%
Interest Burden Percent
109.72% 152.45% 91.72% 94.44% 104.31% 174.54% 41.91% 70.24% 53.54% - -25.00%
Effective Tax Rate
1.90% 11.93% 4.68% -3.42% 0.00% -12.25% -71.05% 26.21% 44.79% - 0.00%
Return on Invested Capital (ROIC)
10.72% 5.05% 4.34% 11.35% 10.19% 15.34% 7.59% 9.02% 5.33% - 3.26%
ROIC Less NNEP Spread (ROIC-NNEP)
10.99% 4.58% 5.07% 10.78% 11.61% 18.35% 5.86% 7.10% 4.02% - 2.46%
Return on Net Nonoperating Assets (RNNOA)
22.19% 7.23% 7.85% 17.73% 16.36% 27.63% 8.51% 5.01% 5.56% - 5.04%
Return on Equity (ROE)
32.91% 12.28% 12.19% 29.08% 26.54% 42.97% 16.10% 14.03% 10.89% - 8.30%
Cash Return on Invested Capital (CROIC)
8.79% -32.33% -13.21% -40.32% -41.87% -16.70% -22.26% -6.63% -70.91% - -66.49%
Operating Return on Assets (OROA)
5.97% 1.75% 4.17% 6.47% -17.97% 6.33% 2.65% 5.65% 5.31% - 2.77%
Return on Assets (ROA)
6.43% 2.35% 3.65% 6.31% 6.50% 12.41% 1.90% 2.93% 1.57% - 0.69%
Return on Common Equity (ROCE)
24.05% 9.11% 9.14% 21.38% 20.25% 33.26% 12.46% 6.22% 5.01% - 7.30%
Return on Equity Simple (ROE_SIMPLE)
35.53% 0.00% 19.42% 21.22% 21.48% 0.00% 35.46% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)
44 24 20 61 56 97 43 61 63 101 35
NOPAT Margin
6.49% 3.42% 2.88% 7.40% 6.19% 10.88% 5.12% 6.35% 5.38% - 3.12%
Net Nonoperating Expense Percent (NNEP)
-0.27% 0.46% -0.74% 0.57% -1.42% -3.01% 1.73% 1.92% 1.32% - 0.80%
Return On Investment Capital (ROIC_SIMPLE)
- 0.92% - - - 2.50% 1.13% 1.07% 0.91% 1.55% 0.56%
Cost of Revenue to Revenue
73.30% 72.33% 73.45% 71.97% 70.60% 67.73% 69.70% 69.73% 63.55% - 65.03%
SG&A Expenses to Revenue
12.14% 14.33% 16.27% 14.72% 14.03% 15.39% 20.35% 15.07% 19.01% - 21.14%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue
20.08% 23.79% 23.52% 20.87% 20.56% 22.57% 27.30% 21.67% 26.71% - 30.51%
Earnings before Interest and Taxes (EBIT)
43 14 33 56 -200 71 27 79 113 119 48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
100 78 101 128 -120 157 116 173 241 255 186
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
11.35 9.38 8.44 9.16 9.67 11.59 9.04 14.19 9.83 - 2.15
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Price to Revenue (P/Rev)
1.90 2.39 2.09 2.20 2.49 2.81 2.10 2.43 1.76 - 0.80
Price to Earnings (P/E)
44.68 71.09 61.90 60.52 61.66 40.73 32.26 41.63 40.21 - 58.24
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Yield
2.24% 1.41% 1.62% 1.65% 1.62% 2.46% 3.10% 2.40% 2.49% - 1.72%
Enterprise Value to Invested Capital (EV/IC)
3.86 3.63 3.52 3.42 3.96 4.23 3.41 4.00 2.13 - 1.33
Enterprise Value to Revenue (EV/Rev)
2.33 2.95 2.57 2.77 2.99 3.36 2.64 3.01 2.99 - 1.74
Enterprise Value to EBITDA (EV/EBITDA)
16.14 22.86 19.26 19.86 50.45 42.12 31.42 32.28 16.35 - 9.03
Enterprise Value to EBIT (EV/EBIT)
40.54 70.27 57.13 55.39 0.00 0.00 0.00 0.00 37.12 - 21.53
Enterprise Value to NOPAT (EV/NOPAT)
47.02 63.98 55.74 54.02 71.41 64.73 52.18 56.57 40.45 - 25.43
Enterprise Value to Operating Cash Flow (EV/OCF)
13.23 21.83 19.19 20.73 20.47 22.37 19.02 21.26 21.41 - 11.50
Enterprise Value to Free Cash Flow (EV/FCFF)
43.81 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
3.23 2.02 1.96 1.83 2.71 2.79 2.80 1.85 2.11 - 2.54
Long-Term Debt to Equity
3.23 2.02 1.96 1.83 2.71 2.12 2.12 1.51 1.80 - 2.53
Financial Leverage
2.02 1.58 1.55 1.65 1.41 1.51 1.45 0.71 1.38 - 2.05
Leverage Ratio
5.34 4.40 4.23 4.23 4.85 4.47 4.40 3.52 4.28 - 4.92
Compound Leverage Factor
5.86 6.71 3.88 4.00 5.05 7.80 1.84 2.47 2.29 - -1.23
Debt to Total Capital
76.37% 66.84% 66.17% 64.66% 73.04% 73.63% 73.68% 64.89% 67.89% - 71.76%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 17.80% 17.82% 11.97% 10.06% - 0.16%
Long-Term Debt to Total Capital
76.37% 66.84% 66.17% 64.66% 73.04% 55.82% 55.85% 52.92% 57.83% - 71.60%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16.93% 14.00% - 0.00%
Noncontrolling Interests to Total Capital
6.15% 8.21% 8.36% 9.51% 6.07% 5.47% 5.46% 7.41% 8.09% - 2.02%
Common Equity to Total Capital
17.48% 24.95% 25.47% 25.83% 20.89% 20.90% 20.86% 10.76% 10.02% - 26.23%
Debt to EBITDA
5.05 5.30 4.81 4.31 15.20 10.69 9.74 11.07 6.66 - 5.28
Net Debt to EBITDA
2.62 3.66 3.02 3.44 7.14 6.13 5.74 2.08 4.52 - 4.73
Long-Term Debt to EBITDA
5.05 5.30 4.81 4.31 15.20 8.11 7.39 9.02 5.67 - 5.27
Debt to NOPAT
14.70 14.82 13.92 11.73 21.52 16.43 16.18 19.39 16.47 - 14.88
Net Debt to NOPAT
7.62 10.26 8.73 9.37 10.11 9.42 9.54 3.65 11.20 - 13.33
Long-Term Debt to NOPAT
14.70 14.82 13.92 11.73 21.52 12.46 12.27 15.81 14.03 - 14.85
Altman Z-Score
2.39 2.25 2.23 2.37 1.93 2.16 1.85 1.95 1.14 - 0.78
Noncontrolling Interest Sharing Ratio
26.94% 25.83% 25.02% 26.47% 23.72% 22.60% 22.60% 55.68% 54.01% - 12.08%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
3.32 1.64 1.70 1.35 2.98 1.38 1.36 2.53 1.38 - 1.22
Quick Ratio
2.95 1.01 1.11 0.75 2.48 1.13 1.10 2.28 1.17 - 0.69
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
53 -656 -345 -855 -877 -471 -654 -300 -2,996 -2,791 -3,102
Operating Cash Flow to CapEx
361.49% 360.00% 220.62% 479.75% 578.10% 538.52% 303.77% 588.80% 404.24% - 352.63%
Free Cash Flow to Firm to Interest Expense
6.57 -82.02 -42.58 -105.59 -47.92 -17.26 -22.95 -7.05 -42.80 - -47.72
Operating Cash Flow to Interest Expense
13.96 7.88 7.00 14.33 9.95 5.33 3.39 3.34 2.45 - 2.06
Operating Cash Flow Less CapEx to Interest Expense
10.10 5.69 3.83 11.35 8.23 4.34 2.27 2.77 1.85 - 1.48
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.93 0.86 0.91 0.96 0.82 0.79 0.83 0.69 0.55 - 0.65
Accounts Receivable Turnover
9.70 11.35 11.81 10.81 11.45 11.00 11.91 10.57 7.12 - 8.69
Inventory Turnover
419.14 457.80 570.00 389.01 472.27 383.33 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover
97.25 35.28 106.87 34.00 34.08 23.11 30.43 21.40 21.22 - 19.80
Accounts Payable Turnover
9.82 10.11 10.02 9.36 10.46 10.41 9.97 9.14 5.67 - 6.58
Days Sales Outstanding (DSO)
37.63 32.15 30.91 33.76 31.87 33.18 30.64 34.53 51.26 - 41.99
Days Inventory Outstanding (DIO)
0.87 0.80 0.64 0.94 0.77 0.95 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)
37.16 36.10 36.43 39.01 34.88 35.06 36.62 39.92 64.38 - 55.44
Cash Conversion Cycle (CCC)
1.35 -3.16 -4.88 -4.32 -2.24 -0.93 -5.98 -5.39 -13.12 - -13.45
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
1,447 2,079 1,995 2,360 2,381 2,647 2,692 2,721 5,440 5,539 5,829
Invested Capital Turnover
1.65 1.47 1.50 1.53 1.65 1.41 1.48 1.42 0.99 - 1.05
Increase / (Decrease) in Invested Capital
-8.70 680 365 917 933 568 697 361 3,059 2,892 3,137
Enterprise Value (EV)
5,591 7,554 7,015 8,081 9,418 11,191 9,167 10,885 11,588 - 7,729
Market Capitalization
4,544 6,128 5,695 6,421 7,850 9,351 7,280 8,783 6,845 - 3,553
Book Value per Share
$4.88 $7.93 $7.83 $8.01 $9.16 $8.95 $9.04 $6.98 $7.88 $5.29 $20.35
Tangible Book Value per Share
($11.94) ($15.63) ($14.29) ($17.36) ($15.97) ($18.09) ($18.37) ($21.09) ($54.10) ($59.19) ($49.62)
Total Capital
2,289 2,619 2,648 2,713 3,886 3,859 3,860 5,751 6,951 6,503 6,302
Total Debt
1,748 1,750 1,752 1,754 2,838 2,841 2,844 3,732 4,719 4,546 4,522
Total Long-Term Debt
1,748 1,750 1,752 1,754 2,838 2,154 2,156 3,043 4,020 4,536 4,512
Net Debt
906 1,211 1,099 1,402 1,333 1,629 1,676 703 3,208 3,582 4,049
Capital Expenditures (CapEx)
31 18 26 24 32 27 32 24 43 37 38
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-58 -91 -90 -38 -35 5.60 8.30 -54 -70 -87 -88
Debt-free Net Working Capital (DFNWC)
726 449 491 241 1,391 1,218 1,176 2,975 1,442 877 385
Net Working Capital (NWC)
726 449 491 241 1,391 531 488 2,287 742 867 375
Net Nonoperating Expense (NNE)
-2.65 4.93 -8.10 6.72 -16 -43 24 20 30 48 23
Net Nonoperating Obligations (NNO)
906 1,211 1,099 1,402 1,333 1,629 1,676 703 3,208 3,582 4,049
Total Depreciation and Amortization (D&A)
57 64 68 72 80 86 89 94 128 137 138
Debt-free, Cash-free Net Working Capital to Revenue
-2.41% -3.53% -3.29% -1.32% -1.12% 0.17% 0.24% -1.49% -1.80% - -1.98%
Debt-free Net Working Capital to Revenue
30.27% 17.50% 18.00% 8.28% 44.18% 36.56% 33.86% 82.41% 37.17% - 8.65%
Net Working Capital to Revenue
30.27% 17.50% 18.00% 8.28% 44.18% 15.93% 14.05% 63.33% 19.13% - 8.42%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.12 $0.40 $0.62 $1.18 $1.56 $3.36 $0.48 $0.70 $0.38 $0.74 ($0.02)
Adjusted Weighted Average Basic Shares Outstanding
58.30M 1.94M 66.14M 66.13M 68.45M 1.67M 69.15M 67.80M 68.56M 1.33M 147.28M
Adjusted Diluted Earnings per Share
$1.10 $0.44 $0.62 $1.16 $1.48 $2.80 $0.40 $0.64 $0.34 $0.78 ($0.02)
Adjusted Weighted Average Diluted Shares Outstanding
59.43M 1.94M 67.66M 67.25M 91.02M 1.67M 92.16M 89.26M 90.68M 1.33M 147.28M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
82.43M 86.19M 87.55M 88.59M 90.10M 89.10M 88.62M 88.43M 88.62M 81.24M 79.33M
Normalized Net Operating Profit after Tax (NOPAT)
53 26 22 42 57 60 15 61 62 88 35
Normalized NOPAT Margin
7.79% 3.62% 3.17% 5.04% 6.31% 6.79% 1.79% 6.28% 5.24% - 3.12%
Pre Tax Income Margin
7.02% 3.09% 4.23% 6.37% -22.91% 13.99% 1.34% 5.76% 5.14% - -1.07%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
5.40 1.79 4.02 6.89 -10.91 2.60 0.95 1.87 1.61 - 0.74
NOPAT to Interest Expense
5.48 3.02 2.52 7.56 3.08 3.54 1.52 1.44 0.90 - 0.54
EBIT Less CapEx to Interest Expense
1.54 -0.40 0.85 3.90 -12.63 1.62 -0.16 1.30 1.01 - 0.15
NOPAT Less CapEx to Interest Expense
1.62 0.83 -0.65 4.57 1.35 2.55 0.41 0.88 0.30 - -0.05
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
1.90% 2.36% 1.37% 1.82% 3.90% 6.72% 6.87% 13.41% 40.21% - 197.12%
Augmented Payout Ratio
69.97% 88.12% 1.37% 18.29% 29.42% 56.26% 80.00% 115.66% 150.88% - 689.93%

Financials Breakdown Chart

Key Financial Trends

Shift4 Payments (NYSE: FOUR) has shown a clear growth pattern over the last four years, with rising revenues and improving profitability, supported by stronger operating cash flow. At the same time, the company has pursued substantial capital deployment—via acquisitions and debt financing—that has driven leverage higher and produced meaningful cash outflows in investing and financing activities. Below are the 10 most important trends for retail investors to consider.

  • Revenue growth: Operating revenue rose from about $0.54B in 2022 Q4 to about $1.19B in 2025 Q4, reflecting sustained top‑line expansion over the period.
  • Rising operating cash flow: Net cash from continuing operating activities and the related cash from operating activities have trended higher in 2025, with Q4 2025 net cash from continuing operating activities around $223.7M and quarterly operating cash flow improving sequentially earlier in the year.
  • Improving profitability per share: Net income in 2025 quarters strengthened, with Q4 2025 net income to common and diluted earnings per share (EPS) showing meaningful improvement (for example, diluted EPS near $0.78 in Q4 2025, up from earlier 2025 quarters).
  • Gross margin remains solid and relatively stable: Gross margin has broadly sat in the mid‑30s to upper‑30s percent range across recent quarters, indicating a stable profitability core even as revenue scales.
  • Share repurchases: The company has engaged in repurchases of common equity in recent years, which can support earnings per share and provide capital returns to shareholders.
  • Financing liquidity from debt activity: The company has used debt issuances in 2025 to fund growth and liquidity. While this provides near‑term financing flexibility, it also contributes to rising leverage that may affect interest costs and balance‑sheet risk over time.
  • Cash balance fluctuations: Cash balances have fluctuated a bit quarter to quarter (for example, higher liquidity in some quarters and lower in others), reflecting seasonality, investing activity, and financing activity rather than a stable pile of cash.
  • Rising long‑term leverage: Long‑term debt climbed to about $4.02B by 2025 Q3, signaling a substantial increase in financial leverage and related interest costs that could pressure margins if growth slows.
  • Significant investing outflows due to acquisitions and capex: Net cash from continuing investing activities has been notably negative in several periods, including sizable acquisitions (for example, around $2.57B in 2025 Q3) and other investing outflows, which can pressure near‑term cash generation.
  • Financing outflows in some quarters: Net cash from financing activities has shown large outflows in certain periods, contributing to overall cash burn despite robust operating cash flow in other quarters. This includes sizable net payments related to debt repayments and share repurchases in some quarters.
05/14/26 01:22 PM ETAI Generated. May Contain Errors.

Shift4 Payments Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Shift4 Payments' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Shift4 Payments' net income appears to be on an upward trend, with a most recent value of $147 million in 2025, falling from -$55.40 million in 2018. The previous period was $295 million in 2024. Check out Shift4 Payments' forecast to explore projected trends and price targets.

Shift4 Payments' total operating income in 2025 was $351 million, based on the following breakdown:
  • Total Gross Profit: $1.43 billion
  • Total Operating Expenses: $1.08 billion

Over the last 7 years, Shift4 Payments' total revenue changed from $560.60 million in 2018 to $4.18 billion in 2025, a change of 645.6%.

Shift4 Payments' total liabilities were at $6.76 billion at the end of 2025, a 67.9% increase from 2024, and a 773.0% increase since 2019.

In the past 6 years, Shift4 Payments' cash and equivalents has ranged from $3.70 million in 2019 to $1.23 billion in 2021, and is currently $964 million as of their latest financial filing in 2025.

Over the last 7 years, Shift4 Payments' book value per share changed from 0.00 in 2018 to 5.29 in 2025, a change of 529.2%.



Financial statements for NYSE:FOUR last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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