FOUR (Shift4 Payments, Inc.) Stock Financials & Earnings | Market Cap Arena

FOUR (Shift4 Payments, Inc.) Stock Financials & Earnings | Market Cap Arena

FOURShift4 Payments, Inc.

Mkt Cap$4B

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

Revenue (TTM)$4.2B

Net Income (TTM)$104M

EPS (TTM)$1.03

Free Cash Flow (TTM)$597M

Gross Margin34.2%

Op. Margin8.4%

Net Margin2.5%

FCF Margin14.3%

P/S Ratio (TTM)1.0x

P/E Ratio (TTM)39.4x

YoY Rev Growth+25.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$547M	$145M	$9M
Q2 23	$637M	$167M	$34M
Q3 23	$675M	$180M	$45M
Q4 23	$705M	$195M	$27M
Q1 24	$707M	$188M	$21M
Q2 24	$827M	$232M	$59M
Q3 24	$909M	$267M	$80M
Q4 24	$887M	$286M	$86M
Q1 25	$848M	$257M	$25M
Q2 25	$966M	$293M	$83M
Q3 25	$1.2B	$429M	$115M
Q4 25	$1.2B	$450M	$128M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	1.9x	42.0x
Q2 23	1.8x	36.5x
Q3 23	1.7x	40.2x
Q4 23	1.6x	47.5x
Q1 24	1.5x	44.5x
Q2 24	1.4x	38.6x
Q3 24	1.3x	32.2x
Q4 24	1.2x	17.8x
Q1 25	1.2x	18.1x
Q2 25	1.1x	18.6x
Q3 25	1.1x	21.0x
Q4 25	1.0x	39.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$79M	$49M
Q2 23	$92M	$50M
Q3 23	$112M	$69M
Q4 23	$105M	$73M
Q1 24	$115M	$89M
Q2 24	$116M	$75M
Q3 24	$182M	$264M
Q4 24	$145M	$89M
Q1 25	$97M	$45M
Q2 25	$142M	$93M
Q3 25	$172M	$273M
Q4 25	$224M	$187M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$30M
Q2 23	$42M
Q3 23	$43M
Q4 23	$32M
Q1 24	$26M
Q2 24	$41M
Q3 24	$81M
Q4 24	$56M
Q1 25	$52M
Q2 25	$49M
Q3 25	$101M
Q4 25	$37M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+36.1%	+30.1%
Q2 23	+25.7%	+24.7%
Q3 23	+23.4%	+27.7%
Q4 23	+31.2%	+33.5%
Q1 24	+29.3%	+27.5%
Q2 24	+29.8%	+27.3%
Q3 24	+34.6%	+31.4%
Q4 24	+25.7%	+18.1%
Q1 25	+19.9%	+20.0%
Q2 25	+16.8%	+15.0%
Q3 25	+29.4%	+28.2%
Q4 25	+34.0%	+32.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$21M	3.8%
Q2 23	$13M	2.1%
Q3 23	$12M	1.8%
Q4 23	$11M	1.6%
Q1 24	$23M	3.2%
Q2 24	$14M	1.7%
Q3 24	$14M	1.6%
Q4 24	$14M	1.6%
Q1 25	$26M	3.1%
Q2 25	$15M	1.6%
Q3 25	$16M	1.3%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$92M	$3M
Q2 23	$88M	$4M
Q3 23	$82M	$5M
Q4 23	$101M	$4M
Q1 24	$115M	$4M
Q2 24	$122M	$4M
Q3 24	$128M	$6M
Q4 24	$137M	$7M
Q1 25	$173M	$7M
Q2 25	$146M	$7M
Q3 25	$224M	$8M
Q4 25	$227M	$11M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	36.1%	13.3%	49.4
Q2 23	25.7%	14.4%	40.1
Q3 23	23.4%	16.4%	39.8
Q4 23	31.2%	13.0%	44.2
Q1 24	29.3%	14.7%	44.0
Q2 24	29.8%	15.8%	45.6
Q3 24	34.6%	-12.4%	22.2
Q4 24	25.7%	26.5%	52.2
Q1 25	19.9%	14.7%	34.7
Q2 25	16.8%	19.0%	35.8
Q3 25	29.4%	19.4%	48.9
Q4 25	34.0%	22.0%	56.1

Revenue Segments

Quarter	Payments Based Revenue	Subscription And Other Revenues
Q1 23	$511M	$36M
Q2 23	$600M	$37M
Q3 23	$627M	$49M
Q4 23	$648M	$57M
Q1 24	$655M	$52M
Q2 24	$756M	$71M
Q3 24	$807M	$102M
Q1 25	$756M	$93M
Q2 25	$869M	$98M
Q3 25	$1.1B	$119M

War Chest

Quarter	Cash	Short-term Investments	Total
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

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	84M	+1.3%
Q2 23	60M	-28.7%
Q3 23	59M	-1.3%
Q4 23	65M	+9.0%
Q1 24	68M	+4.5%
Q2 24	67M	-0.6%
Q3 24	89M	+32.9%
Q4 24	90M	+0.6%
Q1 25	91M	+0.9%
Q2 25	89M	-1.6%
Q3 25	91M	+1.6%
Q4 25	67M	-25.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 18	—	—
FY 19	—	—
FY 20	$588K	1K
FY 21	$790K	2K
FY 22	$867K	2K
FY 23	$846K	3K
FY 24	$833K	4K
FY 25	$663K	6K