Shift4 Payments, Inc. FOUR
At Shift4, our mission is to boldly redefine commerce by simplifying complex payments ecosystems across the world. We are a leading independent provider of software and payment processing solutions in the U.S. and we are expanding our payment processing solutions to international markets.
As a result of the acquisition of Global Blue Group Holding AG ("Global Blue") in the third quarter of 2025 ("Global Blue Merger") we are also a leader in tax-free shopping ("TFS"). Global Blue is a leading technology and travel services platform, primarily providing TFS, dynamic currency conversion, and payments solutions to many of the world's largest retail brands.
We power billions of transactions annually for hundreds of thousands of businesses in virtually every industry. We achieved our leadership position through decades of solving business and operational challenges facing our customers' overall commerce needs. Our merchants range in size from small owner-operated local businesses to multinational enterprises conducting commerce globally.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.18B | $3.33B | $2.56B | $1.99B | $1.37B | $766.9M | $731.4M | $560.6M | — |
| Cost of revenue | — | — | — | — | $1.09B | $589.1M | $558.0M | $419.9M | — |
| Gross profit | — | — | — | — | $278.4M | $177.8M | $173.4M | $140.7M | — |
| R&D | $6.0M | $4.0M | $1.0M | $500.0K | $1.8M | $1.2M | $1.6M | $1.6M | — |
| SG&A | $682.0M | $459.0M | $329.0M | $267.4M | $219.5M | $186.5M | $117.1M | $79.8M | — |
| Total operating expenses | — | — | — | — | $327.6M | $235.4M | $177.8M | $153.8M | — |
| Operating income | $351.0M | $247.0M | $115.0M | $94.7M | -$49.2M | -$57.6M | -$4.4M | -$13.1M | — |
| Interest expense | $190.0M | $62.0M | $32.0M | $32.5M | $28.0M | $40.2M | $51.5M | $47.0M | — |
| Pre-tax income | $195.0M | -$1.0M | $120.0M | $86.9M | -$77.1M | -$113.8M | -$54.9M | -$59.5M | — |
| Income tax | $48.0M | $296.0M | $3.0M | $200.0K | $3.1M | $2.4M | $1.7M | $4.1M | — |
| Net income | $147.0M | $294.5M | $122.9M | $86.7M | -$48.2M | -$18.4M | -$56.6M | -$55.4M | — |
| Shares, diluted (wtd. avg.) | $1.3M | $1.7M | $1.9M | $3.9M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $964.0M | $1.21B | $722.0M | $777.0M | $1.23B | $927.8M | $3.7M | — | — |
| Receivables | $742.0M | $349.0M | $256.8M | $195.0M | $205.9M | $92.7M | $78.6M | — | — |
| Inventory | — | $8.9M | $3.4M | $4.8M | $3.5M | $1.5M | $8.5M | — | — |
| Total current assets | $2.18B | $1.91B | $1.15B | $991.7M | $1.45B | $1.03B | $106.4M | — | — |
| Property, plant and equipment | — | — | $28.6M | $22.3M | $18.4M | $15.1M | $15.4M | — | — |
| Goodwill | $2.70B | $1.46B | $1.11B | $735.0M | $537.7M | $477.0M | $421.3M | $391.8M | — |
| Other intangibles | $3.01B | $980.9M | $830.1M | $646.8M | $188.5M | $186.3M | $209.2M | — | — |
| Total assets | $8.71B | $5.04B | $3.39B | $2.55B | $2.34B | $1.78B | $784.0M | — | — |
| Accounts payable | $679.0M | $248.0M | $204.6M | $166.7M | $121.1M | $60.6M | $58.1M | — | — |
| Short-term debt | $10.0M | $687.0M | $0 | — | $0 | $900.0K | $5.3M | — | — |
| Total current liabilities | $1.31B | $1.38B | $704.4M | $268.3M | $183.8M | $99.4M | $129.9M | — | — |
| Long-term debt | $4.54B | $2.15B | $1.75B | $1.74B | $1.74B | $1.01B | $635.1M | — | — |
| Total liabilities | $6.76B | $4.02B | $2.52B | $2.07B | $1.94B | $1.11B | $773.9M | — | — |
| Retained earnings | -$467.0M | -$228.0M | -$346.7M | -$363.6M | -$325.3M | -$278.7M | -$182.4M | -$118.8M | — |
| Total equity | $1.44B | $807.0M | $869.0M | $481.0M | $399.7M | $670.0M | -$32.9M | $35.9M | $96.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $634.0M | $500.0M | $346.0M | $275.4M | $3.0M | $4.0M | $8.0M | $25.5M | — |
| Depreciation and amortisation | $432.0M | $297.0M | $215.0M | $149.1M | $104.4M | $84.2M | $62.6M | $70.8M | — |
| Stock-based compensation | $82.0M | $65.0M | $57.0M | $49.6M | $40.8M | $66.2M | $0 | — | — |
| Capital expenditure | $10.0M | $7.0M | $14.0M | $8.0M | $8.2M | $4.8M | $8.2M | $1.6M | — |
| Investing cash flow | -$3.00B | -$691.0M | -$302.0M | -$516.8M | -$170.5M | -$82.7M | -$80.1M | -$41.4M | — |
| Financing cash flow | $2.06B | $929.0M | -$110.0M | -$214.6M | $471.2M | $1.00B | $71.0M | $11.3M | — |
| Buybacks | $453.0M | $146.0M | $105.0M | $185.9M | $19.5M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-197191.
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