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Shift4 Payments, Inc.

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Shift4 Payments, Inc. • NYSE
$73.81 ▲ 5.19% (+3.64)
Market Cap $6.56 B
52w High $127.50
52w Low $61.23
Dividend Yield 0%
P/E 34.49
Volume 1.25M
Outstanding Shares 67.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.177B ▲ $314.4M ▲ $28.1M ▼ 2.388% ▼ $0.19 ▼ $228.9M ▲
Q2-2025 $966.2M ▲ $209.4M ▼ $34M ▲ 3.519% ▲ $0.35 ▲ $183.5M ▲
Q1-2025 $848.3M ▼ $231.6M ▲ $16.7M ▼ 1.969% ▼ $0.241 ▼ $125.1M ▼
Q4-2024 $887M ▼ $200.2M ▲ $116M ▲ 13.078% ▲ $1.639 ▲ $234.9M ▲
Q3-2024 $909.2M $186.9M $53.8M 5.917% $0.78 $-112.7M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.512B ▼ $8.99B ▲ $6.758B ▲ $1.67B ▲
Q2-2025 $3.029B ▲ $6.991B ▲ $5B ▲ $1.593B ▲
Q1-2025 $1.456B ▲ $5.004B ▼ $3.988B ▼ $805.2M ▼
Q4-2024 $1.212B ▼ $5.041B ▼ $4.024B ▲ $806.6M ▼
Q3-2024 $1.426B $5.049B $4.001B $811.8M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $33.4M ▼ $171.8M ▲ $-2.648B ▼ $965.1M ▼ $-1.543B ▼ $272.5M ▲
Q2-2025 $41.1M ▲ $141.9M ▲ $-47.2M ▲ $1.707B ▲ $1.869B ▲ $93M ▲
Q1-2025 $19.5M ▼ $96.6M ▼ $-85M ▲ $-80.7M ▼ $-54.3M ▲ $44.8M ▼
Q4-2024 $139.3M ▲ $145.4M ▼ $-255.9M ▼ $-21.4M ▼ $-156.8M ▼ $89.1M ▼
Q3-2024 $95.4M $182.1M $-53.7M $1.051B $1.192B $263.5M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Payments Based Revenue
Payments Based Revenue
 $1.53Bn ▲$760.00M ▼$870.00M ▲$1.06Bn ▲
Subscription And Other Revenues
Subscription And Other Revenues
 $190.00M ▲$90.00M ▼$100.00M ▲$120.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Shift4’s income statement shows a business that has moved from early-stage losses to solid profitability while still growing quickly. Revenue has climbed sharply each year, and profit measures have followed, turning from losses a few years ago to positive earnings more recently. Margins have generally improved as the company scales, suggesting that its business model benefits from size. That said, profits are still catching up to the pace of revenue growth, which implies ongoing spending on expansion, integrations, and product development rather than a fully “mature” earnings profile yet.

Balance Sheet

Balance Sheet The balance sheet reflects aggressive growth. Total assets have expanded meaningfully, and cash on hand has rebuilt after dipping in the middle years, giving the company a useful liquidity cushion. At the same time, debt has increased considerably and now represents a large share of the capital structure, while equity has grown but remains relatively modest compared with total assets. This mix signals a leveraged balance sheet: supportive of rapid expansion but increasing sensitivity to interest costs, credit conditions, and any slowdown in performance.

Cash Flow

Cash Flow Shift4’s cash flow picture has improved from a near break-even, investment-heavy phase to one where the core business is now generating healthy cash. Operating cash flow has risen steadily, and free cash flow has turned from negative to clearly positive as the company’s scale grows and capital spending becomes more manageable. The firm is still investing meaningfully in its platform and growth initiatives, but it is increasingly funding these investments from its own cash generation rather than relying solely on external financing, which is a sign of a maturing business model.

Competitive Edge

Competitive Edge Competitively, Shift4 occupies a focused niche in the broader payments landscape. Instead of trying to serve every type of merchant like some large rivals, it concentrates on complex, high-volume areas such as hospitality, restaurants, and entertainment venues. Its strength lies in offering an integrated stack of hardware, software, and payment processing that becomes deeply embedded in a customer’s daily operations, making the relationship “sticky” and harder to replace. Partnerships and acquisitions expand its reach and product breadth. However, it still faces intense competition from much larger, well-funded players, ongoing pricing pressure, and exposure to the health of consumer-facing industries where spending can be cyclical.

Innovation and R&D

Innovation and R&D Innovation is a central part of Shift4’s strategy. The company has built a unified commerce platform that blends payment processing, point-of-sale hardware, software tools, and strong security features into one offering. Products like its SkyTab point-of-sale system reflect this focus, combining payments with order management, online ordering, and business tools in a single package. On the technology side, Shift4 emphasizes security (encryption, tokenization) and developer-friendly integrations for online payments. Looking ahead, it is pushing into international markets, expanding through acquisitions, and exploring areas like crypto payments and more advanced terminals. These initiatives could broaden its opportunity set but also raise execution, integration, and regulatory complexity risks. Information about future deals and expansions, especially beyond the latest financial year, should be seen as directional rather than guaranteed outcomes.

Summary

Overall, Shift4 looks like a payments platform that has grown rapidly from a smaller base and is now transitioning into a more established, cash-generating business. Revenue and profit trends are moving in the right direction, and cash flows increasingly support the company’s own growth investments. The balance sheet shows meaningful leverage, reflecting an aggressive growth and acquisition strategy that can amplify both upside and downside if conditions change. Its competitive edge comes from a tightly integrated solution tailored to specific industries rather than a broad, one-size-fits-all approach. The main opportunities lie in continued scaling, international expansion, and deeper product integration; the main risks center on debt levels, intense competition, sector concentration, and the challenges of integrating new technologies and acquisitions effectively.

NEWS

November 21, 2025 · 4:00 PM UTC

Shift4 to Participate in Upcoming Investor Conference

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November 19, 2025 · 8:00 AM UTC

Shift4 Makes Canadian Sports Debut Powering Commerce for the Ottawa Senators

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November 6, 2025 · 7:00 AM UTC

Shift4 Announces Third Quarter 2025 Results

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October 21, 2025 · 4:30 PM UTC

Shift4 To Acquire Worldline's North American Subsidiaries

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October 16, 2025 · 4:30 PM UTC

Shift4 Announces Date of Third Quarter Earnings Results and Upcoming Investor Conference Participation

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