FOUR

MKT CAP:$5B

Shift4 Payments, Inc.

Market Cap

$5B

Technology·Software - Infrastructure·🇺🇸 United States·NYSE

Technology·Software Infra·🇺🇸·NYSE

Stock Price

$46.25-$16.43 (-26.21%)

Apr 23, 2026

Company Details

Shift4 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 an...

CEO

David Taylor Lauber

IPO Date

Jun 5, 2020

Website

www.shift4.com

Key Metrics TTM

Revenue

$3.4B

+368.8% YoY

Net Income

$99M

EPS (Diluted)

$1.46

Free Cash Flow

$424M

Revenue / Share

$50.86

Gross Margin

31.1%

Operating Margin

6.9%

Net Margin

2.9%

FCF Margin

12.4%

P/S

1.3x

P/E

46.4x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 27, 2026

$4.2BEPS $1.08

Q4 2025

Feb 27, 2026

$1.2BEPS $0.37

Q2 2024

Aug 8, 2024

$827MEPS $0.58

Q1 2024

May 9, 2024

$707MEPS $0.30

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 19	$155M	$39M	-$1M
Q2 19	$181M	$44M	$4M
Q3 19	$194M	$47M	-$9M
Q4 19	$202M	$50M	$100.0K
Q4 23	$705M	$195M	$27M
Q1 24	$707M	$188M	$21M
Q2 24	$827M	$232M	$59M
Q4 25	$1.2B	$450M	$128M

Valuation

Quarter	P/S	P/E
Q1 19	—	—
Q2 19	—	—
Q3 19	—	—
Q4 19	6.2x	—
Q4 23	3.6x	—
Q1 24	2.5x	—
Q2 24	1.9x	76.5x
Q4 25	1.3x	46.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 19	$10M	$7M
Q2 19	$13M	$7M
Q3 19	$10M	$5M
Q4 19	-$6M	-$12M
Q4 23	$105M	$73M
Q1 24	$115M	$89M
Q2 24	$116M	$75M
Q4 25	$224M	$187M

Capital Expenditures

Quarter	CapEx
Q1 19	$3M
Q2 19	$6M
Q3 19	$5M
Q4 19	$5M
Q4 23	$32M
Q1 24	$26M
Q2 24	$41M
Q4 25	$37M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 23	+355.1%	+334.3%
Q1 24	+291.9%	+289.1%
Q2 24	+326.7%	+278.0%
Q4 25	+488.3%	+425.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 19	$1M	0.8%
Q2 19	$1M	0.7%
Q3 19	$3M	1.5%
Q4 19	$2M	1.0%
Q4 23	$11M	1.6%
Q1 24	$23M	3.2%
Q2 24	$14M	1.7%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 19	—	$28M	$1M
Q2 19	—	$28M	$1M
Q3 19	—	$41M	$2M
Q4 19	$2M	$38M	$2M
Q4 23	—	$101M	$4M
Q1 24	—	$115M	$4M
Q2 24	—	$122M	$4M
Q4 25	—	$227M	$11M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 19	—	9.0%	—
Q2 19	—	12.6%	—
Q3 19	—	3.6%	—
Q4 19	—	8.4%	—
Q4 23	355.1%	13.0%	368.1
Q1 24	291.9%	14.7%	306.6
Q2 24	326.7%	15.8%	342.5
Q4 25	488.3%	22.0%	510.4

Rule of 40

Revenue Segments

Quarter	Payments Based Revenue	Subscription And Other Revenues
Q4 23	$648M	$57M
Q1 24	$655M	$52M
Q2 24	$756M	$71M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.2B	$0	$1.2B
Q2 22	$1.0B	$0	$1.0B
Q3 22	$673M	$0	$673M
Q4 22	$777M	$0	$777M
Q1 23	$744M	$0	$744M
Q2 23	$649M	$0	$649M
Q3 23	$692M	$0	$692M
Q4 23	$455M	$0	$455M
Q1 24	$523M	$0	$523M
Q2 24	$205M	$0	$205M
Q3 24	$1.4B	$0	$1.4B
Q4 24	$1.2B	$0	$1.2B
Q1 25	$1.2B	$289M	$1.5B
Q2 25	$3.0B	$0	$3.0B
Q3 25	$1.5B	$0	$1.5B
Q4 25	$964M	$0	$964M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 19	39M	—	—
Q2 19	39M	0.0%	—
Q3 19	39M	0.0%	—
Q4 19	39M	0.0%	—
Q4 23	65M	+66.0%	+66.0%
Q1 24	68M	+4.5%	+73.4%
Q2 24	67M	-0.6%	+72.3%
Q4 25	67M	+0.2%	+72.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 19	—	—
Q2 19	—	—
Q3 19	—	—
Q4 19	—	—
Q4 23	$232.8K	3K
Q1 24	$233.5K	3K
Q2 24	$272.9K	3K
Q4 25	$188.7K	6K

Revenue / Employee