Shift4 Payments, Inc. (FOUR) Balance Sheet
FOUR balance sheet, 2025
December 31, 2025 · U.S. dollars$8.71B assets = $6.76B liabilities + $1.96B equity
Both columns are drawn to the same scale: what FOUR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FOUR financial health
Descriptive bands, not a rating. Fiscal 2025.
FOUR balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $738.7M2018 | $8.71B2025 | +42.3%/yr | |
| Total liabilities | $697.3M2018 | $6.76B2025 | +38.3%/yr | |
| Shareholders’ equity | $41.4M2018 | $1.44B2025 | +66.1%/yr | |
| Cash & short-term investments | $4.8M2018 | $964.0M2025 | +113.3%/yr | |
| Total debt | $553.5M2018 | $4.62B2025 | +35.4%/yr | |
| Net cash (debt) | −$548.7M2018 | −$3.65B2025 | −$3.1B | |
| Working capital | −$27.6M2018 | $867.0M2025 | +$894.6M | |
| Book value per share | $1.062018 | $16.212025 | +47.6%/yr | |
| Current ratio | 0.722018 | 1.662025 | +0.94 | |
| Debt / equity | 13.372018 | 3.202025 | −10.17 | |
| Shares outstanding | 39.0M2018 | 89.0M2025 | +12.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FOUR assets
FOUR liabilities and equity
FOUR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FOUR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $964.0M | $1.21B | $455.0M | $776.5M | $1.23B | $927.8M | $3.7M | $4.8M |
| Cash & equivalents | $964.0M | $1.21B | $455.0M | $776.5M | $1.23B | $927.8M | $3.7M | $4.8M |
| Receivables | $742.0M | $348.7M | $256.8M | $196.9M | $208.2M | $94.2M | $85.9M | $56.0M |
| Inventory | $0 | $8.9M | $3.4M | $4.8M | $3.5M | $1.5M | $8.5M | $5.1M |
| Other current assets | $475.0M | $340.9M | $438.1M | $13.5M | $10.4M | $10.0M | $8.3M | $4.3M |
| Total current assets | $2.18B | $1.91B | $1.15B | $991.7M | $1.45B | $1.03B | $106.4M | $70.2M |
| Property, plant & equipment (net) | $342.0M | $229.2M | $51.4M | $122.5M | $95.3M | $51.7M | $15.4M | $26.2M |
| Goodwill & intangible assets | $5.62B | $2.37B | $1.66B | $1.04B | $726.2M | $663.3M | $656.9M | $622.5M |
| Long-term investments | $0 | $0 | $62.2M | $47.1M | $30.5M | $0 | $0 | $0 |
| Other non-current assets | $565.0M | $530.6M | $460.8M | $350.9M | $37.0M | $30.8M | $5.3M | $19.8M |
| Total assets | $8.71B | $5.04B | $3.39B | $2.55B | $2.34B | $1.78B | $784.0M | $738.7M |
| Liabilities | ||||||||
| Accounts payable | $679.0M | $248.3M | $204.6M | $166.7M | $121.1M | $60.6M | $58.1M | $44.2M |
| Short-term debt | $27.0M | $697.9M | $7.8M | $5.3M | $4.8M | $900,000 | $5.3M | $4.8M |
| Deferred revenue | $13.0M | $15.5M | $20.6M | $16.3M | $15.0M | $7.8M | $5.6M | $4.6M |
| Total current liabilities | $1.31B | $1.38B | $704.4M | $268.3M | $183.8M | $99.4M | $129.9M | $97.8M |
| Long-term debt | $4.54B | $2.15B | $1.75B | $1.74B | $1.74B | $1.01B | $635.1M | $548.7M |
| Lease obligations | $70.0M | $40.3M | $26.6M | $23.4M | $22.7M | $0 | — | — |
| Other long-term liabilities | $906.0M | $489.8M | $64.8M | $63.2M | $20.6M | $4.5M | $51.9M | $50.8M |
| Total liabilities | $6.76B | $4.02B | $2.52B | $2.07B | $1.94B | $1.11B | $816.9M | $697.3M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $8,500 | $8,930 | $8,670 | −$185.9M | $8,300 | — | $300,000 | $300,000 |
| Retained earnings (deficit) | −$467.0M | −$228.2M | −$346.7M | −$363.6M | −$325.3M | −$278.7M | −$178.4M | −$113.3M |
| Accumulated other comprehensive income | $47.0M | −$28.2M | $14.1M | $8.3M | $0 | $0 | −$43.0M | −$28.1M |
| Minority interest | $515.0M | $211.0M | $215.1M | $133.3M | — | — | — | — |
| Total shareholders' equity | $1.44B | $806.6M | $868.4M | $347.3M | $272.8M | $459.6M | −$28.9M | $41.4M |
| Key figures | ||||||||
| Total debt | $4.62B | $2.88B | $1.78B | $1.77B | $1.76B | $1.01B | $640.4M | $553.5M |
| Net cash (debt) | −$3.65B | −$1.67B | −$1.32B | −$988.8M | −$529.7M | −$78.5M | −$636.7M | −$548.7M |
| Working capital | $867.0M | $530.6M | $448.9M | $723.4M | $1.27B | $934.1M | −$23.5M | −$27.6M |
| Tangible book value | −$4.18B | −$1.56B | −$791.7M | −$694.5M | −$453.4M | −$203.7M | −$685.8M | −$581.1M |
| Book value per share | $16.21 | $8.81 | $14.71 | $4.20 | $4.97 | $10.21 | −$0.63 | $1.06 |
| Shares outstanding | 89.0M | 91.5M | 59.0M | 82.8M | 54.9M | 45.0M | 45.9M | 39.0M |
| Current ratio | 1.66 | 1.38 | 1.64 | 3.70 | 7.91 | 10.40 | 0.82 | 0.72 |
| Quick ratio | 1.30 | 1.13 | 1.01 | 3.63 | 7.83 | 10.28 | 0.69 | 0.62 |
| Debt / equity | 3.20 | 3.57 | 2.05 | 5.08 | 6.46 | 2.19 | — | 13.37 |
| Equity / assets | 16.5% | 16.0% | 25.6% | 13.6% | 11.6% | 25.8% | −3.7% | 5.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $356.0M | $1.23B | $964.0M | $1.51B | $3.03B | $1.46B | $1.21B | $1.43B | $205.0M | $522.9M | $455.0M | $692.3M |
| Cash & equivalents | $356.0M | $473.0M | $964.0M | $1.51B | $3.03B | $1.17B | $1.21B | $1.43B | $205.0M | $522.9M | $455.0M | $692.3M |
| Short-term investments | — | $756.0M | — | — | — | $289.0M | — | — | — | — | — | — |
| Receivables | $809.0M | $694.0M | $742.0M | $771.5M | $372.7M | $330.6M | $348.7M | $317.8M | $310.5M | $252.2M | $256.8M | $232.1M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $8.9M | $7.1M | $8.1M | $2.7M | $3.4M | $2.5M |
| Other current assets | $906.0M | $138.0M | $475.0M | $417.1M | $377.4M | $57.2M | $340.9M | $343.3M | $404.1M | $413.0M | $438.1M | $111.7M |
| Total current assets | $2.07B | $2.06B | $2.18B | $2.70B | $3.78B | $1.84B | $1.91B | $2.09B | $927.7M | $1.19B | $1.15B | $1.04B |
| Property, plant & equipment (net) | $351.0M | $100.0M | $342.0M | $315.9M | $248.7M | $59.2M | $229.2M | $58.0M | $202.7M | $181.2M | $51.4M | $160.5M |
| Goodwill & intangible assets | $5.52B | $5.59B | $5.62B | $5.48B | $2.49B | $2.38B | $2.37B | $2.00B | $2.16B | $1.91B | $1.66B | $1.08B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $78.9M | $72.9M | $73.1M | $62.2M | $58.6M |
| Other non-current assets | $756.0M | $1.00B | $565.0M | $492.8M | $474.4M | $725.0M | $530.6M | $821.3M | $129.6M | $56.5M | $460.8M | $312.3M |
| Total assets | $8.70B | $8.76B | $8.71B | $8.99B | $6.99B | $5.00B | $5.04B | $5.05B | $3.49B | $3.41B | $3.39B | $2.65B |
| Liabilities | ||||||||||||
| Accounts payable | $633.0M | $615.0M | $679.0M | $670.0M | $284.6M | $263.0M | $248.3M | $252.0M | $263.9M | $224.4M | $204.6M | $181.3M |
| Short-term debt | $27.0M | $28.0M | $27.0M | $717.4M | $699.4M | $698.7M | $697.9M | $8.7M | $8.9M | $7.4M | $7.8M | $6.7M |
| Deferred revenue | — | — | $13.0M | $14.0M | $12.9M | $11.0M | $15.5M | $22.1M | $18.6M | $14.7M | $20.6M | $14.9M |
| Total current liabilities | $1.71B | $1.69B | $1.31B | $1.96B | $1.49B | $1.36B | $1.38B | $703.4M | $686.3M | $700.3M | $704.4M | $313.0M |
| Long-term debt | $4.50B | $4.51B | $4.54B | $4.02B | $3.04B | $2.16B | $2.15B | $2.84B | $1.75B | $1.75B | $1.75B | $1.75B |
| Lease obligations | $56.0M | $60.0M | $70.0M | $69.2M | $36.8M | $38.5M | $40.3M | $34.1M | $33.3M | $24.4M | $26.6M | $25.5M |
| Other long-term liabilities | $747.0M | $779.0M | $906.0M | $780.0M | $464.2M | $475.7M | $489.8M | $459.7M | $94.8M | $59.4M | $64.8M | $47.8M |
| Total liabilities | $6.96B | $6.98B | $6.76B | $6.76B | $5.00B | $3.99B | $4.02B | $4.00B | $2.54B | $2.51B | $2.52B | $2.11B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $1.30B | $8,500 | $8,840 | $8,740 | $8,850 | $8,930 | $8,750 | — | — | — | $8,170 |
| Retained earnings (deficit) | −$648.0M | −$644.0M | −$467.0M | −$283.4M | −$296.4M | −$259.6M | −$228.2M | −$257.5M | −$297.8M | −$326.1M | −$346.7M | −$355.0M |
| Accumulated other comprehensive income | −$49.0M | −$5.0M | $47.0M | $47.1M | $62.9M | −$2.6M | −$28.2M | $20.6M | −$7.1M | $3.5M | $14.1M | $6.3M |
| Minority interest | $123.0M | $127.0M | $515.0M | $534.3M | $398.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.62B | $1.65B | $1.44B | $1.67B | $1.59B | $805.2M | $806.6M | $811.8M | $700.8M | $674.5M | $653.3M | $400.2M |
| Key figures | ||||||||||||
| Total debt | $4.57B | $4.58B | $4.62B | $4.79B | $3.77B | $2.88B | $2.88B | $2.87B | $1.79B | $1.78B | $1.78B | $1.77B |
| Net cash (debt) | −$4.21B | −$3.35B | −$3.65B | −$3.28B | −$739.3M | −$1.43B | −$1.67B | −$1.45B | −$1.58B | −$1.25B | −$1.32B | −$1.08B |
| Working capital | $361.0M | $375.0M | $867.0M | $742.1M | $2.29B | $487.8M | $530.6M | $1.39B | $241.4M | $490.5M | $448.9M | $725.6M |
| Tangible book value | −$3.90B | −$3.94B | −$4.18B | −$3.81B | −$895.6M | −$1.57B | −$1.56B | −$1.18B | −$1.46B | −$1.23B | −$1.01B | −$679.7M |
| Book value per share | $20.32 | $22.45 | $21.39 | $18.41 | $17.84 | $8.88 | $8.98 | $9.08 | $10.42 | $9.97 | $11.06 | $6.73 |
| Shares outstanding | 79.6M | 73.6M | 67.4M | 90.7M | 89.3M | 90.7M | 89.9M | 89.4M | 67.3M | 67.7M | 59.0M | 59.4M |
| Current ratio | 1.21 | 1.22 | 1.66 | 1.38 | 2.53 | 1.36 | 1.38 | 2.98 | 1.35 | 1.70 | 1.64 | 3.32 |
| Quick ratio | 0.68 | 1.14 | 1.30 | 1.17 | 2.28 | 1.32 | 1.13 | 2.48 | 0.75 | 1.11 | 1.01 | 2.95 |
| Debt / equity | 2.82 | 2.77 | 3.20 | 2.87 | 2.37 | 3.58 | 3.57 | 3.54 | 2.55 | 2.63 | 2.72 | 4.43 |
| Equity / assets | 18.6% | 18.9% | 16.5% | 18.6% | 22.8% | 16.1% | 16.0% | 16.1% | 20.1% | 19.8% | 19.3% | 15.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
FOUR financial position
At the end of fiscal 2025 (December 31, 2025), Shift4 Payments had total assets of $8.7 billion (up 72.8% from a year earlier), total liabilities of $6.8 billion and shareholders' equity of $1.4 billion. It held $964.0 million in cash and short-term investments against $4.6 billion of debt, net debt of $3.7 billion. Its current ratio was 1.66. In the latest quarter (ended June 30, 2026) total assets were $8.7 billion and equity $1.6 billion.
Related: FOUR income statement, FOUR cash flow statement, FOUR key metrics. See the FOUR stock overview for the latest quote and news.
FOUR balance sheet FAQ
What are Shift4 Payments's total assets?
Shift4 Payments reported total assets of $8.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.0 billion a year earlier.
How much debt does Shift4 Payments have?
Shift4 Payments had $4.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.20.
How much cash does Shift4 Payments have?
Shift4 Payments held $964.0 million in cash and short-term investments at the end of fiscal 2025; with $4.6 billion of debt that is net debt of $3.7 billion.
What is Shift4 Payments's book value?
Shift4 Payments's shareholders' equity (book value) was $1.4 billion at the end of fiscal 2025, or $16.21 per share.
What is Shift4 Payments's current ratio?
Shift4 Payments had current assets of $2.2 billion and current liabilities of $1.3 billion, a current ratio of 1.66 (it can cover its short-term obligations).
How much goodwill does Shift4 Payments have?
Shift4 Payments carried $5.6 billion of goodwill and intangible assets, 64.6% of total assets, at the end of fiscal 2025.