Shift4 Payments, Inc. (FOUR) Key Metrics
FOUR valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $3.11B
- Enterprise value
- $7.25B
- P/E (TTM)
- 62.6 10-yr median 49.0
- Forward P/E
- 6.4
- PEG ratio
- 0.28
- Price / sales
- 0.7 10-yr median 2.3
- Price / book
- 1.9 10-yr median 9.5
- EV / EBITDA
- 7.7 10-yr median 26.1
- Dividend yield
- —
- Beta
- 1.39
FOUR key metrics, 2018–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFOUR valuation Price multiples at each fiscal year-end price.
FOUR returns How much profit the business earns on the capital it uses.
FOUR per-share figures Results divided by the shares outstanding at year-end.
FOUR financial health Debt, liquidity and how easily interest is covered.
FOUR efficiency & capital use Working capital cycle and where the cash goes.
FOUR valuation history
FOUR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FOUR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FOUR cash returned to shareholders
FOUR price vs earnings per share
FOUR key metrics
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $5.60B | $9.50B | $4.39B | $4.63B | $3.18B | $3.40B | — | — |
| Enterprise value | $9.25B | $11.17B | $5.71B | $5.62B | $3.71B | $3.47B | — | — |
| P/E ratio | 47.1 | 41.4 | 50.9 | 61.6 | — | — | — | — |
| Price / sales | 1.3 | 2.9 | 1.7 | 2.3 | 2.3 | 4.4 | — | — |
| Price / book | 3.9 | 11.8 | 5.1 | 13.3 | 11.7 | 7.4 | — | — |
| Price / free cash flow | 11.2 | 30.6 | 17.5 | — | — | — | — | — |
| Price / operating cash flow | 8.8 | 19.0 | 11.3 | 16.8 | 109.0 | 145.1 | — | — |
| EV / sales | 2.2 | 3.4 | 2.2 | 2.8 | 2.7 | 4.5 | — | — |
| EV / EBITDA | 11.3 | 31.3 | 15.6 | 20.9 | 67.1 | 327.7 | — | — |
| EV / free cash flow | 18.5 | 36.0 | 22.8 | — | — | — | — | — |
| Earnings yield | 2.1% | 2.4% | 2.0% | 1.6% | −1.5% | −0.5% | — | — |
| Free cash flow yield | 8.9% | 3.3% | 5.7% | −2.3% | −1.8% | −0.3% | — | — |
| Dividend yield | 0.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shareholder yield (dividends + buybacks) | 9.2% | 1.5% | 2.4% | 4.0% | 0.6% | 0.0% | — | — |
| Share price at fiscal year-end | $62.97 | $103.78 | $74.34 | $55.93 | $57.93 | $75.40 | — | — |
| Per share | ||||||||
| Revenue per share | $46.99 | $36.39 | $43.44 | $24.09 | $24.90 | $17.03 | $15.92 | $14.36 |
| Earnings per share | $1.34 | $2.51 | $1.46 | $0.91 | −$0.89 | −$0.41 | −$1.23 | −$1.42 |
| Operating cash flow per share | $7.13 | $5.47 | $6.58 | $3.33 | $0.53 | $0.52 | $0.58 | $0.65 |
| Free cash flow per share | $5.61 | $3.39 | $4.25 | −$1.26 | −$1.03 | −$0.21 | $0.15 | $0.42 |
| Cash per share | $10.84 | $13.24 | $7.71 | $9.38 | $22.42 | $20.60 | $0.08 | $0.12 |
| Book value per share | $16.21 | $8.81 | $14.71 | $4.20 | $4.97 | $10.21 | −$0.63 | $1.06 |
| Tangible book value per share | −$47.02 | −$17.10 | −$13.41 | −$8.39 | −$8.25 | −$4.52 | −$14.93 | −$14.89 |
| Dividends per share | $0.34 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.01 |
| Capex per share | $1.52 | $2.07 | $2.33 | $4.59 | $1.56 | $0.73 | $0.43 | $0.24 |
| Debt per share | $51.89 | $31.48 | $30.09 | $21.33 | $32.07 | $22.35 | $13.94 | $14.18 |
| Shares outstanding | 89.0M | 91.5M | 59.0M | 82.8M | 54.9M | 45.0M | 45.9M | 39.0M |
| Change in shares outstanding | −2.8% | +55.0% | −28.7% | +50.7% | +22.0% | −2.0% | +17.7% | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | 10.6% | 27.4% | 14.2% | 24.2% | −13.4% | −8.5% | — | −133.8% |
| Return on invested capital (ROIC) | 7.0% | 8.4% | 6.5% | 8.8% | −5.8% | −7.9% | −0.6% | −1.8% |
| Return on assets (ROA) | 1.7% | 5.4% | 2.9% | 3.1% | −2.4% | −1.4% | −7.4% | −7.5% |
| Return on tangible assets | 3.9% | 8.6% | 5.0% | 5.0% | −3.0% | −1.6% | −44.5% | −47.7% |
| Free cash flow margin | 11.9% | 9.3% | 9.8% | −5.2% | −4.1% | −1.2% | 0.9% | 2.9% |
| Income quality (OCF / net income) | 5.33 | 2.18 | 4.50 | 3.67 | — | — | — | — |
| Financial health | ||||||||
| Total debt | $4.62B | $2.88B | $1.78B | $1.77B | $1.76B | $1.01B | $640.4M | $553.5M |
| Cash & short-term investments | $964.0M | $1.21B | $455.0M | $776.5M | $1.23B | $927.8M | $3.7M | $4.8M |
| Net debt | $3.65B | $1.67B | $1.32B | $988.8M | $529.7M | $78.5M | $636.7M | $548.7M |
| Debt / equity | 3.20 | 3.57 | 2.05 | 5.08 | 6.46 | 2.19 | — | 13.37 |
| Debt / assets | 0.53 | 0.57 | 0.52 | 0.69 | 0.75 | 0.57 | 0.82 | 0.75 |
| Net debt / EBITDA | 4.47 | 4.68 | 3.61 | 3.68 | 9.58 | 7.41 | 10.76 | 7.08 |
| Current ratio | 1.66 | 1.38 | 1.64 | 3.70 | 7.91 | 10.40 | 0.82 | 0.72 |
| Quick ratio | 1.66 | 1.38 | 1.63 | 3.68 | 7.89 | 10.38 | 0.75 | 0.67 |
| Interest coverage | 1.8 | 4.0 | 3.6 | 2.9 | -1.8 | -1.4 | -0.1 | -0.3 |
| Working capital | $867.0M | $530.6M | $448.9M | $723.4M | $1.27B | $934.1M | −$23.5M | −$27.6M |
| Invested capital | $5.09B | $2.48B | $2.19B | $1.34B | $802.5M | $538.1M | $607.8M | $590.1M |
| Tangible asset value | −$3.67B | −$1.35B | −$791.7M | −$561.2M | −$326.5M | $6.7M | −$689.8M | −$581.1M |
| Net current asset value | −$4.58B | −$2.11B | −$1.37B | −$1.08B | −$489.3M | −$75.8M | −$710.5M | −$627.1M |
| Graham number | $22.09 | $22.30 | $21.98 | $9.26 | — | — | — | — |
| Graham net-net per share | −$58.86 | −$27.82 | −$31.67 | −$13.86 | −$10.08 | −$2.44 | −$16.21 | −$16.60 |
| Capital allocation | ||||||||
| Dividends paid | $30.0M | $0 | $0 | $0 | $0 | $500,000 | $200,000 | $200,000 |
| Share buybacks (net) | $487.0M | $145.9M | $105.4M | $185.9M | $19.5M | $900,000 | $8.5M | $200,000 |
| Dividend payout ratio | 25.2% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Dividends + buybacks / free cash flow | 103.6% | 47.0% | 42.0% | — | — | — | 127.9% | 2.5% |
| Capex / revenue | 3.2% | 5.7% | 5.4% | 19.1% | 6.3% | 4.3% | 2.7% | 1.7% |
| Capex / operating cash flow | 21.3% | 37.9% | 35.4% | 138.0% | 292.8% | 140.6% | 74.5% | 36.5% |
| Capex / depreciation | 0.31 | 0.64 | 0.64 | 2.55 | 0.82 | 0.39 | 0.31 | 0.13 |
| Stock-based compensation / revenue | 2.0% | 2.0% | 2.2% | 2.5% | 3.0% | 8.6% | −0.0% | 0.4% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.1% | 0.2% | 0.2% | 0.3% |
| SG&A / revenue | 19.2% | 15.7% | 14.7% | 15.8% | 19.4% | 25.4% | 19.3% | 16.6% |
| Efficiency | ||||||||
| Days sales outstanding | 47.6 | 33.2 | 32.3 | 37.1 | 40.4 | 42.9 | 35.4 | 36.5 |
| Days of inventory on hand | — | 1.0 | 0.8 | 1.0 | 0.8 | 3.1 | 4.4 | 4.4 |
| Days payables outstanding | 61.5 | 35.1 | 36.1 | 34.5 | 30.4 | 36.8 | 33.5 | 38.4 |
| Cash conversion cycle (days) | -13.9 | -0.9 | -3.0 | 3.6 | 10.7 | 9.2 | 6.4 | 2.5 |
| Receivables turnover | 7.66 | 11.00 | 11.31 | 9.84 | 9.04 | 8.52 | 10.31 | 10.01 |
| Payables turnover | 5.94 | 10.41 | 10.11 | 10.59 | 11.99 | 9.93 | 10.91 | 9.50 |
| Inventory turnover | — | 383.33 | 457.80 | 367.08 | 435.64 | 117.82 | 82.06 | 82.33 |
| Asset turnover | 0.61 | 0.79 | 0.86 | 0.81 | 0.66 | 0.60 | 0.96 | 0.76 |
| Average receivables | $545.4M | $302.8M | $226.8M | $202.6M | $151.2M | $90.0M | $71.0M | $56.0M |
| Average payables | $463.6M | $226.4M | $185.7M | $143.9M | $90.8M | $59.4M | $51.1M | $44.2M |
| Average inventory | — | $6.2M | $4.1M | $4.2M | $2.5M | $5.0M | $6.8M | $5.1M |
| Intangibles / total assets | 64.6% | 47.0% | 49.0% | 40.8% | 31.0% | 37.3% | 83.8% | 84.3% |
Computed from FOUR's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FOUR valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Shift4 Payments traded at 47.1 times earnings, against a 8-year median of 49.0. Based on the latest twelve months, the trailing P/E is 62.6 and the forward P/E is 6.4. Shift4 Payments earned a return on equity of 10.6% and a return on invested capital of 7.0% in fiscal 2025. It ended the year with $4.6 billion of debt and $964.0 million in cash and short-term investments, net debt of $3.7 billion. It returned $517.0 million to shareholders: $30.0 million in dividends and $487.0 million in share buybacks, 104% of free cash flow. The share count rose 127.9% from 39.0M to 89.0M over 7 years.
See the FOUR income statement, the FOUR chart for price history, or the FOUR stock overview for the latest quote and news.
FOUR key metrics FAQ
What is Shift4 Payments's P/E ratio?
Shift4 Payments's trailing P/E ratio is 62.6 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 6.4. At the end of fiscal 2025 it was 47.1, compared with a 8-year median of 49.0.
What is Shift4 Payments's EV/EBITDA?
Shift4 Payments's enterprise value was 11.3 times EBITDA at the end of fiscal 2025 (enterprise value $9.3 billion, EBITDA $817.0 million); the current EV/EBITDA is 7.7.
What is Shift4 Payments's return on equity?
Shift4 Payments's return on equity (ROE) was 10.6% in fiscal 2025: net income of $119.0 million on average shareholders' equity of $1.1 billion.
What is Shift4 Payments's ROIC?
Shift4 Payments's return on invested capital was 7.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Shift4 Payments have?
Shift4 Payments had total debt of $4.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 3.20 and $3.7 billion of net debt (4.47 times EBITDA).
What is Shift4 Payments's dividend yield?
Shift4 Payments paid $30.0 million in dividends in fiscal 2025 ($0.34 per share), a payout ratio of 25.2%.
Does Shift4 Payments buy back its shares?
Yes. Shift4 Payments spent $487.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.8% over the year, to 89.0M..
What is Shift4 Payments's free cash flow yield?
Shift4 Payments generated $499.0 million of free cash flow in fiscal 2025, a free cash flow yield of 8.9% on its market value at year-end ($5.6 billion).
What is Shift4 Payments's current ratio?
Shift4 Payments's current ratio was 1.66 at the end of fiscal 2025: current assets were 1.66 times current liabilities.