Shift4 Payments, Inc. (FOUR) 10-Year Financial Performance & Capital Metrics

FOUR • • Industrial / General

TechnologyInfrastructure SoftwarePayment Processing & Digital CommerceEnterprise Payment Processors

AboutShift4 Payments, Inc. provides integrated payment processing and technology solutions in the United States. It provides omni-channel card acceptance and processing solutions, including credit, debit, contactless card, Europay, Mastercard and visa, QR Pay, and mobile wallets, as well as alternative payment methods; merchant acquiring; proprietary omni-channel gateway; complementary software integrations; integrated and mobile point-of-sale (POS) solutions; security and risk management solutions; reporting and analytical tools; and web-store design, hosting, shopping cart management, and fulfillment integration, as well as tokenization, payment device and chargeback management, fraud prevention, and gift card solutions. The company also offers VenueNext that provides mobile ordering, countertop POS, and self-service kiosk services, as well as digital wallet to facilitate food and beverage, merchandise, and loyalty for stadium and entertainment venues; and Shift4Shop, which offers eCommerce solutions, including website builder, shopping cart, product catalog, order management, marketing, search engine optimization, secure hosting, and mobile webstores. In addition, it provides Lighthouse, a cloud-based business intelligence tool that includes customer engagement, social media management, online reputation management, scheduling, and product pricing, as well as reporting and analytics; SkyTab, a hybrid-cloud-based integrated POS solution; SkyTab Mobile, a mobile payment solution; and marketplace technology for integrations into third-party applications. Further, the company offers merchant management, training and education, marketing management, and incentives tracking solutions. Additionally, it provides merchant underwriting, onboarding and activation, training, risk management, and support services; and software integrations and compliance management, and partner support and services. The company was founded in 1999 and is headquartered in Allentown, Pennsylvania.Show more

Revenue $3.33B +29.9%
EBITDA $544M +65.0%
Net Income $230M +166.4%
EPS (Diluted) 3.03 +111.9%
Gross Margin 29.22% +8.9%
EBITDA Margin 16.32% +27.1%
Operating Margin 7.42% +65.7%
Net Margin 6.89% +105.1%
ROE 24.35% +90.5%
ROIC 7.6% +61.4%
Debt/Equity 2.83 +38.4%
Interest Coverage 4.00 +11.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 35.4%
✓Good 3Y average ROE of 18.1%

✗Weaknesses

✗High debt to equity ratio of 2.8x
✗Weak momentum: RS Rating 15 (bottom 15%)
✗Shares diluted 50.1% in last year
✗Thin 5Y average net margin of 1.6%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y35.42%

3Y34.54%

TTM23.16%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM53.02%

EPS CAGR

10Y-

5Y-

3Y-

TTM23.73%

ROCE

10Y Avg0.92%

5Y Avg1.83%

3Y Avg5.56%

Latest7.79%

Peer Comparison

Enterprise Payment Processors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TOSTToast, Inc.	17.39B	33.76	1048.45	28.33%	4.66%	13.56%	1.76%	0.02
DLODLocal Limited	2.42B	14.59	37.41	14.7%	17.8%	33.87%		0.11
IIIVi3 Verticals, Inc.	615.36M	25.67	36.67	-7.29%	55.87%	25.96%	0.93%	0.01
ACIWACI Worldwide, Inc.	4.48B	43.49	22.77	9.76%	15.07%	17.64%	7.66%	0.67
FOURShift4 Payments, Inc.	4.45B	65.91	21.75	29.86%	5.02%	8.73%	6.97%	2.83
WEXWEX Inc.	5.51B	160.57	21.41	3.15%	10.81%	25.38%	6.07%	2.99
EVTCEVERTEC, Inc.	1.93B	30.12	17.41	21.7%	16.17%	20.63%	8.91%	1.86
XYZBlock, Inc.	35.55B	64.92	14.27	10.06%	13.08%	13.95%	4.37%	0.37

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	560.6M	731.4M	766.9M	1.37B	1.99B	2.56B	3.33B
Revenue Growth %	-	0.3%	0.05%	0.78%	0.46%	0.29%	0.3%
Cost of Goods Sold+	419.9M	558M	589.1M	1.09B	1.52B	1.88B	2.36B
COGS % of Revenue	0.75%	0.76%	0.77%	0.8%	0.76%	0.73%	0.71%
Gross Profit+	140.7M	173.4M	177.8M	278.4M	470.2M	687.8M	973.1M
Gross Margin %	0.25%	0.24%	0.23%	0.2%	0.24%	0.27%	0.29%
Gross Profit Growth %	-	0.23%	0.03%	0.57%	0.69%	0.46%	0.41%
Operating Expenses+	153.8M	177.8M	235.4M	327.4M	375.5M	573M	726.1M
OpEx % of Revenue	0.27%	0.24%	0.31%	0.24%	0.19%	0.22%	0.22%
Selling, General & Admin	93.3M	141.1M	194.7M	265.2M	315.6M	377.5M	522.6M
SG&A % of Revenue	0.17%	0.19%	0.25%	0.19%	0.16%	0.15%	0.16%
Research & Development	1.6M	1.6M	1.2M	1.8M	500K	0	0
R&D % of Revenue	0%	0%	0%	0%	0%	-	-
Other Operating Expenses	58.9M	35.1M	39.5M	60.4M	59.4M	194.3M	203.5M
Operating Income+	-13.1M	-4.4M	-57.6M	-49.2M	94.7M	114.8M	247M
Operating Margin %	-0.02%	-0.01%	-0.08%	-0.04%	0.05%	0.04%	0.07%
Operating Income Growth %	-	0.66%	-12.09%	0.15%	2.92%	0.21%	1.15%
EBITDA+	43.4M	58.2M	26.6M	55.2M	243.8M	329.4M	543.6M
EBITDA Margin %	0.08%	0.08%	0.03%	0.04%	0.12%	0.13%	0.16%
EBITDA Growth %	-	0.34%	-0.54%	1.08%	3.42%	0.35%	0.65%
D&A (Non-Cash Add-back)	56.5M	62.6M	84.2M	104.4M	149.1M	214.6M	296.6M
EBIT	6.7M	-3.4M	-73.6M	-49.1M	119.4M	151.6M	60.2M
Net Interest Income+	-47M	-51.5M	-40.2M	-28M	-21.7M	-200K	-28.1M
Interest Income	0	0	0	0	10.8M	31.9M	33.7M
Interest Expense	47M	51.5M	40.2M	28M	32.5M	32.1M	61.8M
Other Income/Expense	-46.4M	-50.5M	-56.2M	-27.9M	-7.8M	4.7M	-248.6M
Pretax Income+	-59.5M	-54.9M	-113.8M	-77.1M	86.9M	119.5M	-1.6M
Pretax Margin %	-0.11%	-0.08%	-0.15%	-0.06%	0.04%	0.05%	-0%
Income Tax+	-4.1M	1.7M	-2.4M	-3.1M	200K	-3.4M	-296.1M
Effective Tax Rate %	0.93%	1.03%	0.16%	0.63%	0.86%	0.72%	-143.5%
Net Income+	-55.4M	-56.6M	-18.4M	-48.9M	75.1M	86.2M	229.6M
Net Margin %	-0.1%	-0.08%	-0.02%	-0.04%	0.04%	0.03%	0.07%
Net Income Growth %	-	-0.02%	0.67%	-1.66%	2.54%	0.15%	1.66%
Net Income (Continuing)	-55.4M	-56.6M	-111.4M	-74M	86.7M	122.9M	294.5M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	210.4M	126.9M	133.3M	215.1M	211.1M
EPS (Diluted)+	-1.42	-1.23	-0.43	-0.89	1.05	1.43	3.03
EPS Growth %	-	0.13%	0.65%	-1.07%	2.18%	0.36%	1.12%
EPS (Basic)	-1.42	-1.23	-0.43	-0.89	1.34	1.45	3.36
Diluted Shares Outstanding	39.03M	45.94M	45.03M	54.92M	82.77M	60.99M	91.52M
Basic Shares Outstanding	39.03M	45.94M	45.03M	54.92M	56.17M	59.68M	67.68M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	70.2M	106.4M	1.03B	1.45B	991.7M	1.15B	1.91B
Cash & Short-Term Investments	4.8M	3.7M	927.8M	1.23B	776.5M	455M	1.21B
Cash Only	4.8M	3.7M	927.8M	1.23B	776.5M	455M	1.21B
Short-Term Investments	0	0	0	0	0	0	0
Accounts Receivable	56M	85.9M	94.2M	208.2M	196.9M	256.8M	348.7M
Days Sales Outstanding	36.46	42.87	44.83	55.57	36.05	36.55	38.21
Inventory	5.1M	8.5M	1.5M	3.5M	4.8M	3.4M	8.9M
Days Inventory Outstanding	4.43	5.56	0.93	1.17	1.15	0.66	1.38
Other Current Assets	500K	2.2M	1M	300K	4.9M	438.1M	340.9M
Total Non-Current Assets+	668.5M	677.6M	745.8M	889M	1.56B	2.23B	3.13B
Property, Plant & Equipment	26.2M	15.4M	51.7M	95.3M	122.5M	174.5M	229.2M
Fixed Asset Turnover	21.40x	47.49x	14.83x	14.35x	16.27x	14.70x	14.53x
Goodwill	391.8M	421.3M	477M	537.7M	735M	1.11B	1.46B
Intangible Assets	230.7M	235.6M	186.3M	188.5M	306.8M	778.4M	915.6M
Long-Term Investments	-3.4M	0	-34.4M	30.5M	47.1M	62.2M	2.5M
Other Non-Current Assets	19.8M	5.3M	30.8M	37M	339.2M	108.1M	131.3M
Total Assets+	738.7M	784M	1.78B	2.34B	2.55B	3.39B	5.04B
Asset Turnover	0.76x	0.93x	0.43x	0.58x	0.78x	0.76x	0.66x
Asset Growth %	-	0.06%	1.27%	0.32%	0.09%	0.33%	0.49%
Total Current Liabilities+	97.8M	129.9M	99.4M	183.8M	268.3M	704.4M	1.38B
Accounts Payable	44.2M	58.1M	60.6M	121.1M	166.7M	204.6M	248.3M
Days Payables Outstanding	38.42	38	37.55	40.59	39.94	39.79	38.44
Short-Term Debt	4.8M	5.3M	900K	4.8M	5.3M	0	686.9M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	25.9M	38.5M	10.3M	8.1M	64.7M	424.6M	297.6M
Current Ratio	0.72x	0.82x	10.40x	7.91x	3.70x	1.64x	1.38x
Quick Ratio	0.67x	0.75x	10.38x	7.89x	3.68x	1.63x	1.38x
Cash Conversion Cycle	2.47	10.42	8.22	16.16	-2.74	-2.58	1.15
Total Non-Current Liabilities+	599.5M	687M	1.01B	1.76B	1.81B	1.81B	2.64B
Long-Term Debt	548.7M	635.1M	1.01B	1.74B	1.74B	1.75B	2.15B
Capital Lease Obligations	0	0	0	17.9M	18.1M	18.8M	29.3M
Deferred Tax Liabilities	4.1M	4.1M	2.8M	300K	18.6M	28.7M	60.6M
Other Non-Current Liabilities	-35.2M	0	1.7M	2.4M	26.5M	17.3M	399.9M
Total Liabilities	697.3M	816.9M	1.11B	1.94B	2.07B	2.52B	4.02B
Total Debt+	553.5M	640.4M	1.01B	1.76B	1.77B	1.78B	2.88B
Net Debt	548.7M	636.7M	78.5M	529.7M	988.8M	1.32B	1.67B
Debt / Equity	13.37x	-	1.50x	4.41x	3.67x	2.05x	2.83x
Debt / EBITDA	12.75x	11.00x	37.83x	31.91x	7.24x	5.39x	5.30x
Net Debt / EBITDA	12.64x	10.94x	2.95x	9.60x	4.06x	4.01x	3.07x
Interest Coverage	-0.28x	-0.09x	-1.43x	-1.76x	2.91x	3.58x	4.00x
Total Equity+	41.4M	-28.9M	670M	399.7M	480.6M	868.4M	1.02B
Equity Growth %	-	-1.7%	24.18%	-0.4%	0.2%	0.81%	0.17%
Book Value per Share	1.06	-0.63	14.88	7.28	5.81	14.24	11.12
Total Shareholders' Equity	41.4M	-28.9M	459.6M	272.8M	347.3M	653.3M	806.6M
Common Stock	300K	300K	0	0	0	0	0
Retained Earnings	-113.3M	-178.4M	-278.7M	-325.3M	-363.6M	-346.7M	-228.2M
Treasury Stock	0	0	0	-21.1M	0	0	0
Accumulated OCI	-28.1M	-43M	0	0	8.3M	14.1M	-28.2M
Minority Interest	0	0	210.4M	126.9M	133.3M	215.1M	211.1M

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	25.5M	26.7M	23.4M	29.2M	275.4M	388.3M	500.3M
Operating CF Margin %	0.05%	0.04%	0.03%	0.02%	0.14%	0.15%	0.15%
Operating CF Growth %	-	0.05%	-0.12%	0.25%	8.43%	0.41%	0.29%
Net Income	-55.4M	-13.8M	-111.4M	-74M	86.7M	86.2M	294.5M
Depreciation & Amortization	70.8M	63.2M	84.2M	104.4M	149.1M	214.6M	296.6M
Stock-Based Compensation	0	0	66.2M	40.8M	49.6M	57.4M	65.5M
Deferred Taxes	-4M	200K	-1.3M	-2.5M	-2.1M	-8.1M	-322M
Other Non-Cash Items	6.3M	-18M	11.7M	18.3M	-31M	91.1M	241.6M
Working Capital Changes	7.8M	-4.9M	-26M	-57.8M	23.1M	-52.9M	-75.9M
Change in Receivables	-16.6M	-18.6M	-19.3M	-120.7M	4.1M	-52.7M	-75M
Change in Inventory	-1.8M	-1.7M	1.2M	1.8M	2.8M	7.2M	8.3M
Change in Payables	11.1M	12.3M	-2M	56.5M	37.3M	14.7M	24.9M
Cash from Investing+	-41.4M	-98.8M	-102.1M	-196.7M	-516.8M	-301.9M	-691.1M
Capital Expenditures	-9.3M	-19.9M	-32.9M	-85.5M	-380M	-91.5M	0
CapEx % of Revenue	0.02%	0.03%	0.04%	0.06%	0.19%	0.04%	0.06%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-30.6M	-18.7M	-19.4M	5.2M	-364.9M	-55.6M	-262.9M
Cash from Financing+	11.3M	71M	1B	471.2M	-214.6M	-152.2M	929.2M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	-200K	-8.5M	-900K	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-3M	-6.1M	-37.1M	-15.3M	-28.7M	-46.8M	-98.1M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	16.2M	6.8M	-9.5M	-56.3M	-104.6M	250.7M	310.6M
FCF Margin %	0.03%	0.01%	-0.01%	-0.04%	-0.05%	0.1%	0.09%
FCF Growth %	-	-0.58%	-2.4%	-4.93%	-0.86%	3.4%	0.24%
FCF per Share	0.42	0.15	-0.21	-1.03	-1.26	4.11	3.39
FCF Conversion (FCF/Net Income)	-0.46x	-0.47x	-1.27x	-0.60x	3.67x	4.50x	2.18x
Interest Paid	35.9M	47.2M	0	20.9M	24.4M	24M	24M
Taxes Paid	500K	200K	0	400K	700K	5.3M	14.2M

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-133.82%	-905.6%	-5.74%	-9.14%	17.06%	12.78%	24.35%
Return on Invested Capital (ROIC)	-1.67%	-0.55%	-6.37%	-4.4%	5.92%	4.71%	7.6%
Gross Margin	25.1%	23.71%	23.18%	20.36%	23.59%	26.82%	29.22%
Net Margin	-9.88%	-7.74%	-2.4%	-3.58%	3.77%	3.36%	6.89%
Debt / Equity	13.37x	-	1.50x	4.41x	3.67x	2.05x	2.83x
Interest Coverage	-0.28x	-0.09x	-1.43x	-1.76x	2.91x	3.58x	4.00x
FCF Conversion	-0.46x	-0.47x	-1.27x	-0.60x	3.67x	4.50x	2.18x
Revenue Growth	-	30.47%	4.85%	78.32%	45.78%	28.65%	29.86%

Revenue by Segment

	2020	2021	2022	2023	2024
Payments Based Revenue	684.2M	1.26B	1.86B	2.39B	2.99B
Payments Based Revenue Growth	-	83.86%	47.62%	28.48%	25.32%
Subscription And Other Revenues	82.7M	109.5M	136.5M	178.8M	340.5M
Subscription And Other Revenues Growth	-	32.41%	24.66%	30.99%	90.44%

Revenue by Geography

	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	2.46B	2.77B
UNITED STATES Growth	-	-	-	-	12.46%
Non-US	-	-	-	101.1M	559.9M
Non-US Growth	-	-	-	-	453.81%

Frequently Asked Questions

Valuation & Price

Shift4 Payments, Inc. (FOUR) has a price-to-earnings (P/E) ratio of 21.8x. This is roughly in line with market averages.

Growth & Financials

Shift4 Payments, Inc. (FOUR) reported $3.88B in revenue for fiscal year 2024. This represents a 592% increase from $560.6M in 2018.

Shift4 Payments, Inc. (FOUR) grew revenue by 29.9% over the past year. This is strong growth.

Yes, Shift4 Payments, Inc. (FOUR) is profitable, generating $194.8M in net income for fiscal year 2024 (6.9% net margin).

Dividend & Returns

Shift4 Payments, Inc. (FOUR) has a return on equity (ROE) of 24.3%. This is excellent, indicating efficient use of shareholder capital.

Shift4 Payments, Inc. (FOUR) generated $499.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Shift4 Payments, Inc. (FOUR) 10-Year Financial Performance & Capital Metrics

FOUR • • Industrial / General

TechnologyInfrastructure SoftwarePayment Processing & Digital CommerceEnterprise Payment Processors

Revenue $3.33B +29.9%
EBITDA $544M +65.0%
Net Income $230M +166.4%
EPS (Diluted) 3.03 +111.9%
Gross Margin 29.22% +8.9%
EBITDA Margin 16.32% +27.1%
Operating Margin 7.42% +65.7%
Net Margin 6.89% +105.1%
ROE 24.35% +90.5%
ROIC 7.6% +61.4%
Debt/Equity 2.83 +38.4%
Interest Coverage 4.00 +11.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 35.4%
✓Good 3Y average ROE of 18.1%

✗Weaknesses

✗High debt to equity ratio of 2.8x
✗Weak momentum: RS Rating 15 (bottom 15%)
✗Shares diluted 50.1% in last year
✗Thin 5Y average net margin of 1.6%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y35.42%

3Y34.54%

TTM23.16%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM53.02%

EPS CAGR

10Y-

5Y-

3Y-

TTM23.73%

ROCE

10Y Avg0.92%

5Y Avg1.83%

3Y Avg5.56%

Latest7.79%

Peer Comparison

Enterprise Payment Processors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TOSTToast, Inc.	17.39B	33.76	1048.45	28.33%	4.66%	13.56%	1.76%	0.02
DLODLocal Limited	2.42B	14.59	37.41	14.7%	17.8%	33.87%		0.11
IIIVi3 Verticals, Inc.	615.36M	25.67	36.67	-7.29%	55.87%	25.96%	0.93%	0.01
ACIWACI Worldwide, Inc.	4.48B	43.49	22.77	9.76%	15.07%	17.64%	7.66%	0.67
FOURShift4 Payments, Inc.	4.45B	65.91	21.75	29.86%	5.02%	8.73%	6.97%	2.83
WEXWEX Inc.	5.51B	160.57	21.41	3.15%	10.81%	25.38%	6.07%	2.99
EVTCEVERTEC, Inc.	1.93B	30.12	17.41	21.7%	16.17%	20.63%	8.91%	1.86
XYZBlock, Inc.	35.55B	64.92	14.27	10.06%	13.08%	13.95%	4.37%	0.37

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	560.6M	731.4M	766.9M	1.37B	1.99B	2.56B	3.33B
Revenue Growth %	-	0.3%	0.05%	0.78%	0.46%	0.29%	0.3%
Cost of Goods Sold+	419.9M	558M	589.1M	1.09B	1.52B	1.88B	2.36B
COGS % of Revenue	0.75%	0.76%	0.77%	0.8%	0.76%	0.73%	0.71%
Gross Profit+	140.7M	173.4M	177.8M	278.4M	470.2M	687.8M	973.1M
Gross Margin %	0.25%	0.24%	0.23%	0.2%	0.24%	0.27%	0.29%
Gross Profit Growth %	-	0.23%	0.03%	0.57%	0.69%	0.46%	0.41%
Operating Expenses+	153.8M	177.8M	235.4M	327.4M	375.5M	573M	726.1M
OpEx % of Revenue	0.27%	0.24%	0.31%	0.24%	0.19%	0.22%	0.22%
Selling, General & Admin	93.3M	141.1M	194.7M	265.2M	315.6M	377.5M	522.6M
SG&A % of Revenue	0.17%	0.19%	0.25%	0.19%	0.16%	0.15%	0.16%
Research & Development	1.6M	1.6M	1.2M	1.8M	500K	0	0
R&D % of Revenue	0%	0%	0%	0%	0%	-	-
Other Operating Expenses	58.9M	35.1M	39.5M	60.4M	59.4M	194.3M	203.5M
Operating Income+	-13.1M	-4.4M	-57.6M	-49.2M	94.7M	114.8M	247M
Operating Margin %	-0.02%	-0.01%	-0.08%	-0.04%	0.05%	0.04%	0.07%
Operating Income Growth %	-	0.66%	-12.09%	0.15%	2.92%	0.21%	1.15%
EBITDA+	43.4M	58.2M	26.6M	55.2M	243.8M	329.4M	543.6M
EBITDA Margin %	0.08%	0.08%	0.03%	0.04%	0.12%	0.13%	0.16%
EBITDA Growth %	-	0.34%	-0.54%	1.08%	3.42%	0.35%	0.65%
D&A (Non-Cash Add-back)	56.5M	62.6M	84.2M	104.4M	149.1M	214.6M	296.6M
EBIT	6.7M	-3.4M	-73.6M	-49.1M	119.4M	151.6M	60.2M
Net Interest Income+	-47M	-51.5M	-40.2M	-28M	-21.7M	-200K	-28.1M
Interest Income	0	0	0	0	10.8M	31.9M	33.7M
Interest Expense	47M	51.5M	40.2M	28M	32.5M	32.1M	61.8M
Other Income/Expense	-46.4M	-50.5M	-56.2M	-27.9M	-7.8M	4.7M	-248.6M
Pretax Income+	-59.5M	-54.9M	-113.8M	-77.1M	86.9M	119.5M	-1.6M
Pretax Margin %	-0.11%	-0.08%	-0.15%	-0.06%	0.04%	0.05%	-0%
Income Tax+	-4.1M	1.7M	-2.4M	-3.1M	200K	-3.4M	-296.1M
Effective Tax Rate %	0.93%	1.03%	0.16%	0.63%	0.86%	0.72%	-143.5%
Net Income+	-55.4M	-56.6M	-18.4M	-48.9M	75.1M	86.2M	229.6M
Net Margin %	-0.1%	-0.08%	-0.02%	-0.04%	0.04%	0.03%	0.07%
Net Income Growth %	-	-0.02%	0.67%	-1.66%	2.54%	0.15%	1.66%
Net Income (Continuing)	-55.4M	-56.6M	-111.4M	-74M	86.7M	122.9M	294.5M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	210.4M	126.9M	133.3M	215.1M	211.1M
EPS (Diluted)+	-1.42	-1.23	-0.43	-0.89	1.05	1.43	3.03
EPS Growth %	-	0.13%	0.65%	-1.07%	2.18%	0.36%	1.12%
EPS (Basic)	-1.42	-1.23	-0.43	-0.89	1.34	1.45	3.36
Diluted Shares Outstanding	39.03M	45.94M	45.03M	54.92M	82.77M	60.99M	91.52M
Basic Shares Outstanding	39.03M	45.94M	45.03M	54.92M	56.17M	59.68M	67.68M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	70.2M	106.4M	1.03B	1.45B	991.7M	1.15B	1.91B
Cash & Short-Term Investments	4.8M	3.7M	927.8M	1.23B	776.5M	455M	1.21B
Cash Only	4.8M	3.7M	927.8M	1.23B	776.5M	455M	1.21B
Short-Term Investments	0	0	0	0	0	0	0
Accounts Receivable	56M	85.9M	94.2M	208.2M	196.9M	256.8M	348.7M
Days Sales Outstanding	36.46	42.87	44.83	55.57	36.05	36.55	38.21
Inventory	5.1M	8.5M	1.5M	3.5M	4.8M	3.4M	8.9M
Days Inventory Outstanding	4.43	5.56	0.93	1.17	1.15	0.66	1.38
Other Current Assets	500K	2.2M	1M	300K	4.9M	438.1M	340.9M
Total Non-Current Assets+	668.5M	677.6M	745.8M	889M	1.56B	2.23B	3.13B
Property, Plant & Equipment	26.2M	15.4M	51.7M	95.3M	122.5M	174.5M	229.2M
Fixed Asset Turnover	21.40x	47.49x	14.83x	14.35x	16.27x	14.70x	14.53x
Goodwill	391.8M	421.3M	477M	537.7M	735M	1.11B	1.46B
Intangible Assets	230.7M	235.6M	186.3M	188.5M	306.8M	778.4M	915.6M
Long-Term Investments	-3.4M	0	-34.4M	30.5M	47.1M	62.2M	2.5M
Other Non-Current Assets	19.8M	5.3M	30.8M	37M	339.2M	108.1M	131.3M
Total Assets+	738.7M	784M	1.78B	2.34B	2.55B	3.39B	5.04B
Asset Turnover	0.76x	0.93x	0.43x	0.58x	0.78x	0.76x	0.66x
Asset Growth %	-	0.06%	1.27%	0.32%	0.09%	0.33%	0.49%
Total Current Liabilities+	97.8M	129.9M	99.4M	183.8M	268.3M	704.4M	1.38B
Accounts Payable	44.2M	58.1M	60.6M	121.1M	166.7M	204.6M	248.3M
Days Payables Outstanding	38.42	38	37.55	40.59	39.94	39.79	38.44
Short-Term Debt	4.8M	5.3M	900K	4.8M	5.3M	0	686.9M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	25.9M	38.5M	10.3M	8.1M	64.7M	424.6M	297.6M
Current Ratio	0.72x	0.82x	10.40x	7.91x	3.70x	1.64x	1.38x
Quick Ratio	0.67x	0.75x	10.38x	7.89x	3.68x	1.63x	1.38x
Cash Conversion Cycle	2.47	10.42	8.22	16.16	-2.74	-2.58	1.15
Total Non-Current Liabilities+	599.5M	687M	1.01B	1.76B	1.81B	1.81B	2.64B
Long-Term Debt	548.7M	635.1M	1.01B	1.74B	1.74B	1.75B	2.15B
Capital Lease Obligations	0	0	0	17.9M	18.1M	18.8M	29.3M
Deferred Tax Liabilities	4.1M	4.1M	2.8M	300K	18.6M	28.7M	60.6M
Other Non-Current Liabilities	-35.2M	0	1.7M	2.4M	26.5M	17.3M	399.9M
Total Liabilities	697.3M	816.9M	1.11B	1.94B	2.07B	2.52B	4.02B
Total Debt+	553.5M	640.4M	1.01B	1.76B	1.77B	1.78B	2.88B
Net Debt	548.7M	636.7M	78.5M	529.7M	988.8M	1.32B	1.67B
Debt / Equity	13.37x	-	1.50x	4.41x	3.67x	2.05x	2.83x
Debt / EBITDA	12.75x	11.00x	37.83x	31.91x	7.24x	5.39x	5.30x
Net Debt / EBITDA	12.64x	10.94x	2.95x	9.60x	4.06x	4.01x	3.07x
Interest Coverage	-0.28x	-0.09x	-1.43x	-1.76x	2.91x	3.58x	4.00x
Total Equity+	41.4M	-28.9M	670M	399.7M	480.6M	868.4M	1.02B
Equity Growth %	-	-1.7%	24.18%	-0.4%	0.2%	0.81%	0.17%
Book Value per Share	1.06	-0.63	14.88	7.28	5.81	14.24	11.12
Total Shareholders' Equity	41.4M	-28.9M	459.6M	272.8M	347.3M	653.3M	806.6M
Common Stock	300K	300K	0	0	0	0	0
Retained Earnings	-113.3M	-178.4M	-278.7M	-325.3M	-363.6M	-346.7M	-228.2M
Treasury Stock	0	0	0	-21.1M	0	0	0
Accumulated OCI	-28.1M	-43M	0	0	8.3M	14.1M	-28.2M
Minority Interest	0	0	210.4M	126.9M	133.3M	215.1M	211.1M

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	25.5M	26.7M	23.4M	29.2M	275.4M	388.3M	500.3M
Operating CF Margin %	0.05%	0.04%	0.03%	0.02%	0.14%	0.15%	0.15%
Operating CF Growth %	-	0.05%	-0.12%	0.25%	8.43%	0.41%	0.29%
Net Income	-55.4M	-13.8M	-111.4M	-74M	86.7M	86.2M	294.5M
Depreciation & Amortization	70.8M	63.2M	84.2M	104.4M	149.1M	214.6M	296.6M
Stock-Based Compensation	0	0	66.2M	40.8M	49.6M	57.4M	65.5M
Deferred Taxes	-4M	200K	-1.3M	-2.5M	-2.1M	-8.1M	-322M
Other Non-Cash Items	6.3M	-18M	11.7M	18.3M	-31M	91.1M	241.6M
Working Capital Changes	7.8M	-4.9M	-26M	-57.8M	23.1M	-52.9M	-75.9M
Change in Receivables	-16.6M	-18.6M	-19.3M	-120.7M	4.1M	-52.7M	-75M
Change in Inventory	-1.8M	-1.7M	1.2M	1.8M	2.8M	7.2M	8.3M
Change in Payables	11.1M	12.3M	-2M	56.5M	37.3M	14.7M	24.9M
Cash from Investing+	-41.4M	-98.8M	-102.1M	-196.7M	-516.8M	-301.9M	-691.1M
Capital Expenditures	-9.3M	-19.9M	-32.9M	-85.5M	-380M	-91.5M	0
CapEx % of Revenue	0.02%	0.03%	0.04%	0.06%	0.19%	0.04%	0.06%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-30.6M	-18.7M	-19.4M	5.2M	-364.9M	-55.6M	-262.9M
Cash from Financing+	11.3M	71M	1B	471.2M	-214.6M	-152.2M	929.2M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	-200K	-8.5M	-900K	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-3M	-6.1M	-37.1M	-15.3M	-28.7M	-46.8M	-98.1M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	16.2M	6.8M	-9.5M	-56.3M	-104.6M	250.7M	310.6M
FCF Margin %	0.03%	0.01%	-0.01%	-0.04%	-0.05%	0.1%	0.09%
FCF Growth %	-	-0.58%	-2.4%	-4.93%	-0.86%	3.4%	0.24%
FCF per Share	0.42	0.15	-0.21	-1.03	-1.26	4.11	3.39
FCF Conversion (FCF/Net Income)	-0.46x	-0.47x	-1.27x	-0.60x	3.67x	4.50x	2.18x
Interest Paid	35.9M	47.2M	0	20.9M	24.4M	24M	24M
Taxes Paid	500K	200K	0	400K	700K	5.3M	14.2M

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-133.82%	-905.6%	-5.74%	-9.14%	17.06%	12.78%	24.35%
Return on Invested Capital (ROIC)	-1.67%	-0.55%	-6.37%	-4.4%	5.92%	4.71%	7.6%
Gross Margin	25.1%	23.71%	23.18%	20.36%	23.59%	26.82%	29.22%
Net Margin	-9.88%	-7.74%	-2.4%	-3.58%	3.77%	3.36%	6.89%
Debt / Equity	13.37x	-	1.50x	4.41x	3.67x	2.05x	2.83x
Interest Coverage	-0.28x	-0.09x	-1.43x	-1.76x	2.91x	3.58x	4.00x
FCF Conversion	-0.46x	-0.47x	-1.27x	-0.60x	3.67x	4.50x	2.18x
Revenue Growth	-	30.47%	4.85%	78.32%	45.78%	28.65%	29.86%

Revenue by Segment

	2020	2021	2022	2023	2024
Payments Based Revenue	684.2M	1.26B	1.86B	2.39B	2.99B
Payments Based Revenue Growth	-	83.86%	47.62%	28.48%	25.32%
Subscription And Other Revenues	82.7M	109.5M	136.5M	178.8M	340.5M
Subscription And Other Revenues Growth	-	32.41%	24.66%	30.99%	90.44%

Revenue by Geography

	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	2.46B	2.77B
UNITED STATES Growth	-	-	-	-	12.46%
Non-US	-	-	-	101.1M	559.9M
Non-US Growth	-	-	-	-	453.81%

Frequently Asked Questions

Valuation & Price

Shift4 Payments, Inc. (FOUR) has a price-to-earnings (P/E) ratio of 21.8x. This is roughly in line with market averages.

Growth & Financials

Shift4 Payments, Inc. (FOUR) reported $3.88B in revenue for fiscal year 2024. This represents a 592% increase from $560.6M in 2018.

Shift4 Payments, Inc. (FOUR) grew revenue by 29.9% over the past year. This is strong growth.

Yes, Shift4 Payments, Inc. (FOUR) is profitable, generating $194.8M in net income for fiscal year 2024 (6.9% net margin).

Dividend & Returns

Shift4 Payments, Inc. (FOUR) has a return on equity (ROE) of 24.3%. This is excellent, indicating efficient use of shareholder capital.

Shift4 Payments, Inc. (FOUR) generated $499.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.