Shift4 Payments (FOUR)
Market Price (9/11/2026): $43.1 | Market Cap: $3.4 BilSector: Financials | Industry: Transaction & Payment Processing Services
Shift4 Payments (FOUR)
Market Price (9/11/2026): $43.1Market Cap: $3.4 BilSector: FinancialsIndustry: Transaction & Payment Processing Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 32% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% Attractive yieldFCF Yield is 8.5% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Digital Payments, Show more. | Weak multi-year price returns2Y Excs Rtn is -82%, 3Y Excs Rtn is -93% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 123% Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 32x Key risksFOUR key risks include [1] its significant exposure to cyclical consumer spending due to its concentration in the hospitality and entertainment verticals, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 32% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Attractive yieldFCF Yield is 8.5% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Digital Payments, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -82%, 3Y Excs Rtn is -93% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 18% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 123% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 32x |
| Key risksFOUR key risks include [1] its significant exposure to cyclical consumer spending due to its concentration in the hospitality and entertainment verticals, Show more. |
Qualitative Assessment
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Updated on 9/9/2026
Shift4 Payments (FOUR) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Shift4 Payments significantly lowered its full-year fiscal 2026 earnings per share (EPS) and revenue guidance. Management revised the non-GAAP EPS outlook to a range of $5.15 to $5.35, down from the previous expectation of $5.50 to $5.70. The midpoint of the full-year gross revenue less network fees (GRLNF) guidance was also lowered by approximately 200 basis points. This reduction in outlook came despite beating analyst expectations for fiscal Q2 2026, where the company reported an EPS of $1.32 against a consensus of $1.19 and revenue of $1.30 billion against a $615.65 million estimate.
2. Geopolitical events and currency fluctuations negatively impacted the company's outlook. Shift4 Payments attributed a portion of its reduced guidance to an anticipated $25 million impact from ongoing travel disruptions in the Middle East during fiscal Q3 2026. Additionally, the company projected approximately $20 million in foreign exchange translation headwinds, further pressuring expected financial performance.
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Shift4 Payments (FOUR) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Shift4 Payments significantly lowered its full-year fiscal 2026 earnings per share (EPS) and revenue guidance. Management revised the non-GAAP EPS outlook to a range of $5.15 to $5.35, down from the previous expectation of $5.50 to $5.70. The midpoint of the full-year gross revenue less network fees (GRLNF) guidance was also lowered by approximately 200 basis points. This reduction in outlook came despite beating analyst expectations for fiscal Q2 2026, where the company reported an EPS of $1.32 against a consensus of $1.19 and revenue of $1.30 billion against a $615.65 million estimate.
2. Geopolitical events and currency fluctuations negatively impacted the company's outlook. Shift4 Payments attributed a portion of its reduced guidance to an anticipated $25 million impact from ongoing travel disruptions in the Middle East during fiscal Q3 2026. Additionally, the company projected approximately $20 million in foreign exchange translation headwinds, further pressuring expected financial performance.
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Updated on 9/9/2026
Shift4 Payments (FOUR) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Shift4 Payments significantly lowered its full-year fiscal 2026 earnings per share (EPS) and revenue guidance. Management revised the non-GAAP EPS outlook to a range of $5.15 to $5.35, down from the previous expectation of $5.50 to $5.70. The midpoint of the full-year gross revenue less network fees (GRLNF) guidance was also lowered by approximately 200 basis points. This reduction in outlook came despite beating analyst expectations for fiscal Q2 2026, where the company reported an EPS of $1.32 against a consensus of $1.19 and revenue of $1.30 billion against a $615.65 million estimate.
2. Geopolitical events and currency fluctuations negatively impacted the company's outlook. Shift4 Payments attributed a portion of its reduced guidance to an anticipated $25 million impact from ongoing travel disruptions in the Middle East during fiscal Q3 2026. Additionally, the company projected approximately $20 million in foreign exchange translation headwinds, further pressuring expected financial performance.
3. Concerns over the company's debt load and sensitivity to rising interest rates emerged. Shift4 Payments completed a $1 billion Term Loan B financing during the period, extending its debt capital structure to 2031. This, coupled with the company's reported 3.7x net leverage, raised concerns among investors as long-term interest rates increased, adding pressure to highly leveraged fintech companies.
4. Analyst firms adjusted their ratings and price targets downwards. Following the revised full-year guidance, several analysts lowered their price targets for Shift4 Payments. For example, B. Riley Financial reduced its price objective from $120.00 to $96.00, The Goldman Sachs Group set a $48.00 price target, and Evercore set a $45.00 price target. This contributed to a consensus "Hold" rating for the stock, with an average price target ranging around $55.50 to $60.24.
Show less
Shift4 Payments (FOUR) stock has lost about 5% since 5/31/2026 because of the following key factors:
1. Shift4 Payments significantly lowered its full-year fiscal 2026 earnings per share (EPS) and revenue guidance. Management revised the non-GAAP EPS outlook to a range of $5.15 to $5.35, down from the previous expectation of $5.50 to $5.70. The midpoint of the full-year gross revenue less network fees (GRLNF) guidance was also lowered by approximately 200 basis points. This reduction in outlook came despite beating analyst expectations for fiscal Q2 2026, where the company reported an EPS of $1.32 against a consensus of $1.19 and revenue of $1.30 billion against a $615.65 million estimate.
2. Geopolitical events and currency fluctuations negatively impacted the company's outlook. Shift4 Payments attributed a portion of its reduced guidance to an anticipated $25 million impact from ongoing travel disruptions in the Middle East during fiscal Q3 2026. Additionally, the company projected approximately $20 million in foreign exchange translation headwinds, further pressuring expected financial performance.
3. Concerns over the company's debt load and sensitivity to rising interest rates emerged. Shift4 Payments completed a $1 billion Term Loan B financing during the period, extending its debt capital structure to 2031. This, coupled with the company's reported 3.7x net leverage, raised concerns among investors as long-term interest rates increased, adding pressure to highly leveraged fintech companies.
4. Analyst firms adjusted their ratings and price targets downwards. Following the revised full-year guidance, several analysts lowered their price targets for Shift4 Payments. For example, B. Riley Financial reduced its price objective from $120.00 to $96.00, The Goldman Sachs Group set a $48.00 price target, and Evercore set a $45.00 price target. This contributed to a consensus "Hold" rating for the stock, with an average price target ranging around $55.50 to $60.24.
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Stock Movement Drivers
Fundamental Drivers
The -3.4% change in FOUR stock from 5/31/2026 to 9/10/2026 was primarily driven by a -16.4% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9102026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.56 | 43.03 | -3.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,452 | 4,782 | 7.4% |
| Net Income Margin (%) | 2.6% | 2.2% | -16.4% |
| P/E Multiple | 28.0 | 32.4 | 15.8% |
| Shares Outstanding (Mil) | 74 | 79 | -7.1% |
| Cumulative Contribution | -3.4% |
Market Drivers
5/31/2026 to 9/10/2026| Return | Correlation | |
|---|---|---|
| FOUR | -3.4% | |
| Market (SPY) | 0.2% | 21.1% |
| Sector (XLF) | 10.3% | 37.5% |
Fundamental Drivers
The -2.4% change in FOUR stock from 2/28/2026 to 9/10/2026 was primarily driven by a -22.8% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9102026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.07 | 43.03 | -2.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,180 | 4,782 | 14.4% |
| Net Income Margin (%) | 2.9% | 2.2% | -22.8% |
| P/E Multiple | 24.7 | 32.4 | 31.4% |
| Shares Outstanding (Mil) | 67 | 79 | -15.8% |
| Cumulative Contribution | -2.4% |
Market Drivers
2/28/2026 to 9/10/2026| Return | Correlation | |
|---|---|---|
| FOUR | -2.4% | |
| Market (SPY) | 10.8% | 20.9% |
| Sector (XLF) | 11.1% | 34.3% |
Fundamental Drivers
The -52.4% change in FOUR stock from 8/31/2025 to 9/10/2026 was primarily driven by a -64.1% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9102026 | Change |
|---|---|---|---|
| Stock Price ($) | 90.43 | 43.03 | -52.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,611 | 4,782 | 32.4% |
| Net Income Margin (%) | 6.1% | 2.2% | -64.1% |
| P/E Multiple | 27.7 | 32.4 | 16.9% |
| Shares Outstanding (Mil) | 68 | 79 | -14.5% |
| Cumulative Contribution | -52.4% |
Market Drivers
8/31/2025 to 9/10/2026| Return | Correlation | |
|---|---|---|
| FOUR | -52.4% | |
| Market (SPY) | 18.5% | 27.2% |
| Sector (XLF) | 6.6% | 33.5% |
Fundamental Drivers
The -24.2% change in FOUR stock from 8/31/2023 to 9/10/2026 was primarily driven by a -55.5% change in the company's Net Income Margin (%).| (LTM values as of) | 8312023 | 9102026 | Change |
|---|---|---|---|
| Stock Price ($) | 56.79 | 43.03 | -24.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,269 | 4,782 | 110.7% |
| Net Income Margin (%) | 4.9% | 2.2% | -55.5% |
| P/E Multiple | 29.9 | 32.4 | 8.5% |
| Shares Outstanding (Mil) | 59 | 79 | -25.6% |
| Cumulative Contribution | -24.2% |
Market Drivers
8/31/2023 to 9/10/2026| Return | Correlation | |
|---|---|---|
| FOUR | -24.2% | |
| Market (SPY) | 74.2% | 39.9% |
| Sector (XLF) | 72.8% | 41.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FOUR Return | -23% | -3% | 33% | 40% | -39% | -35% | -45% |
| Peers Return | -33% | -47% | 11% | 27% | -20% | -13% | -65% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| FOUR Win Rate | 42% | 50% | 58% | 58% | 50% | 44% | |
| Peers Win Rate | 43% | 35% | 53% | 55% | 48% | 36% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| FOUR Max Drawdown | -51% | -53% | -42% | -33% | -50% | -47% | |
| Peers Max Drawdown | -48% | -58% | -36% | -25% | -38% | -35% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TOST, GPN, FIS, LSPD, PYPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/10/2026 (YTD)
How Low Can It Go
| Event | FOUR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.1% | -18.8% |
| % Gain to Breakeven | 43.0% | 23.1% |
| Time to Breakeven | 96 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.2% | -9.5% |
| % Gain to Breakeven | 54.3% | 10.5% |
| Time to Breakeven | 35 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.3% | -6.7% |
| % Gain to Breakeven | 15.3% | 7.1% |
| Time to Breakeven | 2 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -48.9% | -24.5% |
| % Gain to Breakeven | 95.9% | 32.4% |
| Time to Breakeven | 208 days | 427 days |
In The Past
Shift4 Payments's stock fell -30.1% during the 2025 US Tariff Shock. Such a loss loss requires a 43.0% gain to breakeven.
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| Event | FOUR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.1% | -18.8% |
| % Gain to Breakeven | 43.0% | 23.1% |
| Time to Breakeven | 96 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.2% | -9.5% |
| % Gain to Breakeven | 54.3% | 10.5% |
| Time to Breakeven | 35 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -48.9% | -24.5% |
| % Gain to Breakeven | 95.9% | 32.4% |
| Time to Breakeven | 208 days | 427 days |
In The Past
Shift4 Payments's stock fell -30.1% during the 2025 US Tariff Shock. Such a loss loss requires a 43.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Shift4 Payments (FOUR)
Shift4 Payments (FOUR) is a leading provider of integrated payment processing and technology solutions, primarily operating within the United States. The company's core business revolves around enabling businesses to accept a wide range of payment methods, including credit, debit, contactless cards, mobile wallets, and QR Pay. Shift4 manages the entire payment transaction lifecycle, from merchant acquiring and processing through its proprietary omni-channel gateway to offering essential security and risk management services, ensuring secure and efficient financial operations for its clients.
The company offers a comprehensive suite of products and services tailored for various business needs. Key offerings include advanced integrated and mobile point-of-sale (POS) solutions such as SkyTab, which streamline in-person transactions. For online retailers, Shift4Shop provides robust e-commerce platforms encompassing website builders, shopping cart management, and order fulfillment tools. Additionally, Shift4 caters to specialized markets with VenueNext, providing mobile ordering and POS systems for stadiums and entertainment venues, and Lighthouse, a cloud-based business intelligence tool for reporting, analytics, and customer engagement.
Shift4 Payments serves a broad and diverse customer base, ranging from small to large enterprises across numerous sectors. Its primary markets include restaurants, retail establishments, hotels, e-commerce businesses, and major entertainment and sports venues. By offering an all-in-one platform for payment processing, integrated software, and business intelligence, Shift4 aims to be a single-source technology partner for businesses looking to optimize their payment operations and enhance customer experience.
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Here are 1-3 brief analogies for Shift4 Payments (FOUR):
- Shift4 Payments is like Square (Block Inc.) for a broader range of businesses, providing an all-in-one platform for integrated payment processing, point-of-sale (POS) systems, and business management tools.
- Shift4 Payments is like Shopify combined with a full-service payment processor and physical point-of-sale (POS) systems, offering comprehensive solutions for both online and in-person commerce.
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- Payment Processing Solutions: Provides comprehensive omni-channel card acceptance and processing, encompassing credit, debit, contactless, mobile wallets, and various alternative payment methods.
- Point-of-Sale (POS) Solutions: Offers integrated and mobile POS systems, including SkyTab and SkyTab Mobile, designed for efficient transaction processing in physical business environments.
- eCommerce Solutions (Shift4Shop): Delivers a full-featured platform for online businesses, including website building, shopping cart management, order processing, and marketing tools.
- VenueNext: A specialized platform providing mobile ordering, self-service kiosks, and digital wallet capabilities tailored for stadiums and entertainment venues.
- Lighthouse: A cloud-based business intelligence tool that offers features for customer engagement, social media management, reporting, and advanced analytics.
- Security & Risk Management: Includes solutions for tokenization, fraud prevention, chargeback management, and compliance to ensure secure and reliable payment transactions.
- Merchant & Partner Support Services: Encompasses a range of services such as merchant underwriting, onboarding, training, and ongoing support for both businesses and integration partners.
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Shift4 Payments (FOUR) primarily sells its integrated payment processing and technology solutions to other businesses. Based on the services and products described, its major customer categories include:
- General Merchants and Retailers: This broad category encompasses businesses of various sizes that require comprehensive payment processing for both in-store and online transactions. They utilize Shift4's omni-channel card acceptance, merchant acquiring, integrated and mobile point-of-sale (POS) solutions, e-commerce platforms (such as Shift4Shop for website building and shopping cart management), security features, and reporting tools.
- Hospitality Sector Businesses: Restaurants, bars, and hotels are key beneficiaries of Shift4's specialized solutions like SkyTab (a hybrid-cloud-based integrated POS solution) and SkyTab Mobile (a mobile payment solution). These tools are designed to streamline order taking, payment processing, and overall business intelligence within hospitality environments.
- Stadiums and Entertainment Venues: Large-scale venues are specifically targeted with Shift4's VenueNext platform. This solution provides mobile ordering, countertop POS, and self-service kiosk services, along with digital wallet capabilities, to facilitate food and beverage sales, merchandise purchases, and loyalty programs within these entertainment settings.
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Taylor Lauber, Chief Executive Officer Taylor Lauber serves as the Chief Executive Officer of Shift4 Payments. He was appointed to this role in February 2022, and also assumed the Chairman role after Jared Isaacman's resignation as Executive Chairman. Under his leadership, the company has seen revenue growth and an increase in Adjusted EBITDA.
Christopher Cruz, Chief Financial Officer Christopher Cruz became the Chief Financial Officer of Shift4 Payments on September 1, 2025, succeeding Nancy Disman. Prior to this role, he was a member of Shift4's board of directors since the company went public in 2020 and served as Lead Independent Director. His background includes experience in investing, having been a partner at the investment management firm Searchlight Capital and a member of the investment team at Oaktree Capital Management.
Jared Isaacman, Founder Jared Isaacman founded Shift4 Payments (originally United Bank Card) in 1999 at the age of 16, serving as its CEO since its inception. He guided the company through its public listing on the New York Stock Exchange in 2020. Isaacman also co-founded Draken International in 2011, a defense aerospace company providing adversary air training services to the U.S. military and NATO allies, which he later sold to the Blackstone Group in 2019. In December 2024, he was nominated to serve as the 15th Administrator of NASA.
Jordan Frankel, Chief Legal Officer Jordan Frankel serves as the Chief Legal Officer for Shift4 Payments. He has been with the company since 2014, previously holding positions as Secretary, General Counsel, and Executive Vice President of Legal, Risk, and Compliance.
Timothy Goodwin, Chief Payments Officer Timothy Goodwin was appointed Chief Payments Officer of Shift4 Payments in March 2026, a newly created position. In this role, he is responsible for all global payment technology, including the company's gateway and processing platforms. Goodwin joined Shift4 as a senior vice president of product in 2025 and has over two decades of experience in the payments industry, having previously served as Chief Product and Technology Officer for Planet Payments.
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Key Risks to Shift4 Payments (FOUR)
- Macroeconomic Sensitivity and Economic Downturn: Shift4 Payments' revenue and profitability are highly susceptible to fluctuations in global economic conditions, including inflation and political instability. The company's significant exposure to discretionary spending verticals such as hospitality, entertainment, and luxury retail means that a decline in consumer and business spending can directly lead to reduced transaction volumes and negatively impact its financial performance.
- Acquisition and Integration Risk: Shift4 Payments has pursued an aggressive growth strategy involving significant acquisitions, notably the large-scale international acquisition of Global Blue Group Holding AG. There are inherent risks in integrating such substantial businesses, including potential operational disruptions, financial losses, complexities arising from diverse regulatory environments in new markets, and the challenge of managing increased financial leverage.
- Intense Competition: The payment processing and technology solutions industry is highly competitive and rapidly evolving. Shift4 Payments faces constant innovation from rivals and pressure on pricing to maintain or gain market share. Smaller players like Shift4 may find themselves at a disadvantage against larger competitors with more aggressive strategies, potentially affecting customer retention and growth prospects.
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1. The introduction of "Tap to Pay" on iPhone by Apple Inc., which allows merchants to accept contactless payments directly on an iPhone without additional hardware. This directly competes with Shift4's integrated and mobile point-of-sale (POS) solutions and hardware-dependent mobile payment offerings like SkyTab Mobile.
2. The continued expansion of Shopify's integrated ecosystem, encompassing Shopify Payments and Shopify POS. This provides a comprehensive e-commerce platform with native payment processing and physical POS capabilities, directly competing with Shift4's Shift4Shop e-commerce solutions, payment processing, and integrated POS offerings like SkyTab.
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Shift4 Payments, Inc. (FOUR) operates within several substantial addressable markets for its integrated payment processing and technology solutions.
Shift4's management estimates a long-term addressable market of approximately $14 trillion. Initially, their primary market was the $800 billion U.S. hospitality and retail sector, but with strategic expansion, this is projected to grow into a global opportunity exceeding $1.4 trillion, encompassing new verticals and geographic regions.
For its core offerings, the market sizes are as follows:
- Payment Processing Solutions:
- Globally, the payment processing solutions market was valued at approximately $70.37 billion in 2023 and is projected to reach $156.60 billion by 2030, with a compound annual growth rate (CAGR) of 12.1%. Other estimates place the global market at around $66.8 billion in 2024, growing to approximately $198.9 billion by 2034 at an 11.7% CAGR. Another report suggests the global market was worth $104.2 billion in 2023 and is expected to reach $251.1 billion by 2033, growing at a CAGR of 9.19%. In terms of vendor revenue, the global payment processing market is projected to generate between $60 billion and $140 billion in 2025, potentially exceeding $170 billion when including value-added services like gateways and fraud prevention.
- North America is a dominant region within this market, holding approximately 35% of the market share in 2024 and 47% in 2025. Some estimates suggest North America constitutes 30% to 40% of the global market in 2025.
- Point-of-Sale (POS) Terminal Solutions:
- The global POS terminal solution market was valued at $72.5 billion in 2025 and is projected to grow to $128.4 billion by 2034, with a CAGR of 6.1%. Another assessment indicates the global point of sale market size was $38.56 billion in 2025 and is projected to grow to $138.92 billion by 2034, with a CAGR of 15.3%.
- In North America, the POS terminal market is expected to grow from $9.78 billion in 2025 to $16.53 billion by 2031, at a 9.18% CAGR. The U.S. POS system requirement market held the largest revenue share within North America in 2024.
- E-commerce Solutions:
- The global e-commerce market size was estimated at $25.93 trillion in 2023 and is projected to reach $83.26 trillion by 2030, growing at a CAGR of 18.9% from 2024 to 2030.
- The U.S. e-commerce market is estimated at $1.38 trillion in 2026 and is projected to reach $2.28 trillion by 2031, with a 10.53% CAGR over the period. Another report estimates the U.S. e-commerce market size at $1.31 trillion in 2025, expected to reach $2.15 trillion by 2030, at a CAGR of 10.35%.
- Hospitality Market:
- The global hospitality market exceeded $4.7 trillion in 2023, with forecasts for growth to approximately $5.5 trillion in 2024 and $11.6 trillion in 2029. The global hotel market specifically was about $1.3 trillion in 2023 and is predicted to grow to around $2.9 trillion by 2032. The hospitality segment is expected to hold the highest market share in payment processing solutions.
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Shift4 Payments (symbol: FOUR) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies:
- International Expansion and Strategic Acquisitions: Shift4 is actively expanding its global footprint, particularly in Europe, and leveraging strategic acquisitions to enter new markets and enhance its offerings. The acquisition and integration of Global Blue, a leader in tax-free shopping, is expected to provide significant revenue synergies, especially in luxury retail across over 75 countries. Additionally, acquisitions like Bambora North America add a substantial merchant base, creating opportunities for further market penetration. The company plans to roll out all-in-one payment terminals in 15 European countries in 2026.
- Growth in Core and New Verticals: The company is focused on expanding its presence within the "experience economy," including hospitality, restaurants, stadiums, and entertainment venues. This involves increasing ticketing volume and global commerce technology solutions for these large-scale environments. Shift4 also seeks to expand into new verticals, diversifying its merchant base.
- Expansion of End-to-End Payment Volume and Customer Acquisition: A fundamental driver is the continuous growth in end-to-end payment volume, achieved by acquiring new merchants and converting existing gateway-only customers to Shift4's comprehensive end-to-end processing solutions. The company aims for consistent growth in merchant acquisition, targeting several thousand new merchants per month.
- Introduction and Adoption of Innovative Product and Technology Solutions: The development and successful adoption of new products and integrated technology solutions, such as the SkyTab POS system, are crucial for revenue growth. SkyTab, designed for restaurants and SMBs, aims to streamline operations and enhance customer experience, with accelerated growth in installations. Shift4 is also integrating AI-driven solutions, such as AI-driven phone ordering for restaurants using SkyTab, to improve efficiency and capture more sales opportunities.
- Enhanced Cross-Selling Opportunities and Direct Distribution: Acquisitions and the strategic shift to a more direct distribution channel are expected to unlock significant cross-selling opportunities. By directly offering its comprehensive suite of payment and technology solutions to newly acquired or existing merchant relationships, Shift4 can increase the value generated from each customer.
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Share Repurchases
- Shift4 Payments authorized a stock repurchase program of up to $100 million in December 2021, which expired at the end of 2022.
- In May 2024, the company authorized a stock repurchase program of up to $500 million, set to expire in December 2025.
- As of November 2025, Shift4 Payments announced a $1 billion stock buyback program, and between Q4 2025 and year-to-date Q1 2026, it repurchased 7.7 million shares, with $500 million remaining under the authorization.
Share Issuance
- In May 2025, Shift4 Payments priced an underwritten public offering of 8,750,000 shares of Series A Mandatory Convertible Preferred Stock at $100.00 per share, with an option for underwriters to purchase an additional 1,250,000 shares.
- The net proceeds from this offering, along with additional debt financing and cash, were intended to fund the acquisition of Global Blue Group Holding AG and/or for general corporate purposes, including debt repayment, other strategic acquisitions, and growth initiatives.
- In March 2026, the company filed an US$83.78 million shelf registration for 1,730,632 Class A shares tied to an Employee Stock Ownership Plan (ESOP).
Outbound Investments
- Shift4 Payments announced the acquisition of Global Blue Group Holding AG, partially funded by the offering of Mandatory Convertible Preferred Stock in May 2025.
- In "recent weeks" leading up to March 2026, the company completed the Bambora North America acquisition.
- Shift4 expanded its global footprint in 2025 by integrating Global Blue and entering new markets such as Australia, New Zealand, and Canada, establishing a presence outside the Americas with over 80,000 merchants.
Capital Expenditures
- Shift4 Payments' capital expenditures averaged $90.16 million annually from fiscal years ending December 2021 to 2025.
- Capital expenditures showed a consistent increase over the last five fiscal years, rising from $54.1 million in 2021 to $135 million in 2025.
- The company continues to invest in technology innovation and product development, including offerings like SkyTab and business intelligence tools.
Peer Outperformance in Transaction & Payment Processing Services
FOUR has trailed 64% of its 14 Transaction & Payment Processing Services peers over 5Y. Transaction & Payment Processing Services ranks 18th of 18 industries in Financials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Transaction & Payment Processing Services constituents that FOUR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
6%
of 18 industry peers · -49.7% return
3Y
24%
of 17 industry peers · -23.9% return
5Y
36%
of 14 industry peers · -45.3% return
No Transaction & Payment Processing Services peer with a comparable growth profile has beaten FOUR by more than 20pp over 5Y.
Median price return by industry across the Financials sector, ranked by 5Y. Transaction & Payment Processing Services is FOUR's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Investment Banking & Brokerage | 13 | 6.5% | 124.0% | 140.7% | IBKR 485% · SNEX 256% · GS 185% |
| Reinsurance | 6 | 21.2% | 75.3% | 130.4% | SPNT 175% · RGA 138% · RNR 130% |
| Diversified Banks | 12 | 37.0% | 133.1% | 120.4% | JPM 155% · CM 151% · RY 141% |
| Life & Health Insurance | 20 | 9.0% | 54.9% | 102.0% | JXN 546% · UNM 325% · FG 210% |
| Multi-Sector Holdings | 4 | 4.4% | 61.4% | 81.6% | JONE 362% · BRK-B 83% · JEF 81% |
| Regional Banks | 264 | 26.4% | 87.5% | 68.1% | GCBC 367% · ESQ 360% · VBNK 326% |
| Property & Casualty Insurance | 42 | 11.3% | 72.3% | 66.9% | ASIC 2714900% · HRTG 453% · UVE 305% |
| Multi-line Insurance | 9 | 9.8% | 84.2% | 61.3% | GNW 205% · L 107% · SLF 91% |
| Consumer Finance | 30 | 7.8% | 87.2% | 29.4% | ENVA 597% · EZPW 388% · FCFS 176% |
| Financial Exchanges & Data | 15 | -6.8% | 13.7% | 25.7% | VIRT 213% · CBOE 143% · CME 79% |
| Diversified Financial Services | 4 | 0.3% | 10.1% | 20.7% | FRHC 166% · EQH 102% · TMS -60% |
| Insurance Brokers | 16 | -14.3% | -3.7% | 19.2% | LIFE 609% · ARX 89% · AJG 78% |
| Asset Management & Custody Banks | 84 | -11.8% | 13.5% | 12.7% | WT 333% · VCTR 291% · SII 271% |
| Commercial & Residential Mortgage Finance | 12 | -45.0% | 28.6% | 3.5% | FNMA 481% · FMCC 451% · ESNT 68% |
| Specialized Finance | 3 | 17.2% | 42.6% | 0.7% | EFC 33% · CACC 1% · HASI -14% |
| Mortgage REITs | 33 | -14.5% | 7.6% | -14.0% | NREF 53% · RITM 47% · DX 38% |
| Diversified Capital Markets | 21 | -25.9% | -5.4% | -41.1% | BTCS 569% · OPY 215% · LPLA 147% |
| Transaction & Payment Processing Services ← | 15 | 3.0% | -9.1% | -44.4% | V 70% · MA 68% · CPAY 57% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 40.55 |
| Mkt Cap | 19.1 |
| Rev LTM | 8,517 |
| Op Inc LTM | 713 |
| FCF LTM | 699 |
| FCF 3Y Avg | 1,106 |
| CFO LTM | 1,146 |
| CFO 3Y Avg | 1,496 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.6% |
| Rev Chg 3Y Avg | 12.9% |
| Rev Chg Q | 26.1% |
| QoQ Delta Rev Chg LTM | 6.1% |
| Op Inc Chg LTM | 16.0% |
| Op Inc Chg 3Y Avg | 18.5% |
| Op Mgn LTM | 8.8% |
| Op Mgn 3Y Avg | 12.0% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 14.3% |
| CFO/Rev 3Y Avg | 17.4% |
| FCF/Rev LTM | 8.3% |
| FCF/Rev 3Y Avg | 13.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 19.1 |
| P/S | 1.5 |
| P/Op Inc | 9.3 |
| P/EBIT | 9.2 |
| P/E | 7.7 |
| P/CFO | 10.5 |
| Total Yield | 2.9% |
| Dividend Yield | 0.3% |
| FCF Yield 3Y Avg | 6.4% |
| D/E | 0.6 |
| Net D/E | 0.4 |
Price Behavior
Price Behavior
| Market Price | $43.03 | |
| Market Cap ($ Bil) | 3.4 | |
| First Trading Date | 06/05/2020 | |
| Distance from 52W High | -50.8% | |
| 50 Days | 200 Days | |
| DMA Price | $48.88 | $51.57 |
| DMA Trend | down | up |
| Distance from DMA | -12.0% | -16.6% |
| 3M | 1YR | |
| Volatility | 79.3% | 64.4% |
| Downside Capture | 154.21 | 204.44 |
| Upside Capture | 177.68 | 86.18 |
| Correlation (SPY) | 17.1% | 27.8% |
FOUR Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.90 | 0.92 | 1.21 | 1.12 | 1.35 | 1.41 |
| Up Beta | 1.56 | -1.82 | 0.15 | 0.73 | 1.22 | 1.38 |
| Down Beta | -10.13 | -2.06 | 1.15 | 1.94 | 1.56 | 1.51 |
| Up Capture | 122% | 209% | 159% | 86% | 63% | 160% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 23 | 35 | 66 | 114 | 379 |
| Down Capture | 716% | 348% | 173% | 122% | 152% | 109% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 9 | 18 | 28 | 59 | 134 | 368 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FOUR | |
|---|---|---|---|---|
| FOUR | -50.8% | 64.3% | -0.84 | - |
| Sector ETF (XLF) | 7.9% | 14.6% | 0.30 | 34.0% |
| Equity (SPY) | 17.6% | 12.8% | 0.99 | 27.4% |
| Gold (GLD) | 18.7% | 29.2% | 0.59 | 0.2% |
| Commodities (DBC) | 47.9% | 20.4% | 1.81 | -20.8% |
| Real Estate (VNQ) | 6.6% | 13.6% | 0.22 | 19.4% |
| Bitcoin (BTCUSD) | -29.9% | 43.8% | -0.68 | 13.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FOUR | |
|---|---|---|---|---|
| FOUR | -14.1% | 58.4% | -0.03 | - |
| Sector ETF (XLF) | 10.1% | 18.4% | 0.41 | 45.2% |
| Equity (SPY) | 12.4% | 17.2% | 0.55 | 48.3% |
| Gold (GLD) | 18.5% | 18.8% | 0.80 | 3.1% |
| Commodities (DBC) | 11.5% | 19.5% | 0.46 | 3.7% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 37.9% |
| Bitcoin (BTCUSD) | 9.9% | 52.6% | 0.37 | 23.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FOUR | |
|---|---|---|---|---|
| FOUR | 2.0% | 58.6% | 0.29 | - |
| Sector ETF (XLF) | 13.1% | 22.1% | 0.54 | 40.7% |
| Equity (SPY) | 15.1% | 17.9% | 0.71 | 46.8% |
| Gold (GLD) | 12.2% | 16.3% | 0.61 | 3.4% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 7.4% |
| Real Estate (VNQ) | 4.6% | 20.7% | 0.19 | 36.3% |
| Bitcoin (BTCUSD) | 63.4% | 66.2% | 1.03 | 19.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -18.8% | -17.7% | -17.2% |
| 5/7/2026 | 9.3% | -4.7% | -11.2% |
| 2/26/2026 | -15.6% | -17.3% | -15.6% |
| 11/6/2025 | -0.5% | 9.0% | -0.6% |
| 4/29/2025 | 12.8% | 3.7% | 13.8% |
| 2/18/2025 | -17.5% | -23.2% | -29.8% |
| 11/12/2024 | -5.5% | -4.1% | -3.0% |
| 8/8/2024 | 11.3% | 26.2% | 19.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 11 |
| # Negative | 10 | 10 | 12 |
| Median Positive | 9.3% | 17.8% | 19.2% |
| Median Negative | -11.6% | -16.6% | -9.1% |
| Max Positive | 16.1% | 33.1% | 37.8% |
| Max Negative | -18.8% | -24.6% | -29.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -18.8% | -17.7% | -17.2% |
| 5/7/2026 | 9.3% | -4.7% | -11.2% |
| 2/26/2026 | -15.6% | -17.3% | -15.6% |
| 11/6/2025 | -0.5% | 9.0% | -0.6% |
| 4/29/2025 | 12.8% | 3.7% | 13.8% |
| 2/18/2025 | -17.5% | -23.2% | -29.8% |
| 11/12/2024 | -5.5% | -4.1% | -3.0% |
| 8/8/2024 | 11.3% | 26.2% | 19.2% |
| 5/9/2024 | 4.0% | 22.9% | 23.5% |
| 2/27/2024 | 5.6% | 11.3% | -7.3% |
| 11/8/2023 | 13.9% | 33.1% | 37.8% |
| 8/3/2023 | 2.4% | -0.6% | -10.9% |
| 5/4/2023 | -10.7% | -8.1% | -0.2% |
| 2/28/2023 | 13.0% | 24.4% | 20.9% |
| 11/7/2022 | -7.1% | 17.8% | 11.4% |
| 8/4/2022 | 6.5% | 19.1% | 7.1% |
| 5/5/2022 | -14.5% | -24.6% | -13.5% |
| 3/1/2022 | -11.5% | -24.3% | 24.4% |
| 11/10/2021 | 16.1% | 23.7% | -4.6% |
| 8/5/2021 | 1.7% | 0.9% | 1.3% |
| 5/6/2021 | -11.6% | -15.9% | -0.2% |
| 3/4/2021 | 9.4% | 16.6% | 22.6% |
| 11/5/2020 | 5.1% | 8.9% | 15.8% |
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 11 |
| # Negative | 10 | 10 | 12 |
| Median Positive | 9.3% | 17.8% | 19.2% |
| Median Negative | -11.6% | -16.6% | -9.1% |
| Max Positive | 16.1% | 33.1% | 37.8% |
| Max Negative | -18.8% | -24.6% | -29.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 04/29/2025 | 10-Q |
| 12/31/2024 | 02/19/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 04/29/2025 | 10-Q |
| 12/31/2024 | 02/19/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/08/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/12/2020 | 10-Q |
| 03/31/2020 | 06/08/2020 | 424B4 |
Recent Forward Guidance
Updated 8/7/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Gross Revenue Less Network Fees | Reported | 650.00 Mil | -5.8% | Lowered | Guidance: 690.00 Mil for Q3 2026 | |||
| Q3 2026 Adjusted EBITDA | Reported | 310.00 Mil | -7.3% | Lowered | Guidance: 334.50 Mil for Q3 2026 | |||
| Q3 2026 Adjusted Free Cash Flow | Reported | 180.00 Mil | -5.3% | Lowered | Guidance: 190.00 Mil for Q3 2026 | |||
| Q4 2026 Gross Revenue Less Network Fees | Reported | 661.00 Mil | 686.00 Mil | 711.00 Mil | -1.4% | Lowered | Guidance: 696.00 Mil for Q4 2026 | |
| Q4 2026 Adjusted EBITDA | Reported | 327.00 Mil | 339.50 Mil | 352.00 Mil | -1.5% | Lowered | Guidance: 344.50 Mil for Q4 2026 | |
| Q4 2026 Adjusted Free Cash Flow | Reported | 176.00 Mil | 181.00 Mil | 186.00 Mil | -14.6% | Lowered | Guidance: 212.00 Mil for Q4 2026 | |
| 2026 Volume | Reported | 240.00 Bil | 250.00 Bil | 260.00 Bil | 0 | Affirmed | Guidance: 250.00 Bil for 2026 | |
| 2026 Gross Revenue Less Network Fees | Reported | 2.48 Bil | 2.50 Bil | 2.53 Bil | -1.8% | Lowered | Guidance: 2.55 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 1.15 Bil | 1.17 Bil | 1.18 Bil | -2.1% | Lowered | Guidance: 1.19 Bil for 2026 | |
| 2026 EPS | Reported | 5.15 | 5.25 | 5.35 | -6.2% | Lowered | Guidance: 5.6 for 2026 | |
| 2026 Adjusted Free Cash Flow | Reported | 465.00 Mil | 470.00 Mil | 475.00 Mil | -6.0% | Lowered | Guidance: 500.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 GRLNF | Reported | 615.00 Mil | 12.2% | Higher New | Guidance: 548.00 Mil for Q1 2026 | |||
| Q2 2026 Adjusted EBITDA | Reported | 278.00 Mil | 19.3% | Higher New | Guidance: 233.00 Mil for Q1 2026 | |||
| Q2 2026 Adjusted Free Cash Flow | Reported | 10.00 Mil | -85.7% | Lower New | Guidance: 70.00 Mil for Q1 2026 | |||
| Q3 2026 GRLNF | Reported | 665.00 Mil | 690.00 Mil | 715.00 Mil | ||||
| Q3 2026 Adjusted EBITDA | Reported | 322.00 Mil | 334.50 Mil | 347.00 Mil | ||||
| Q3 2026 Adjusted Free Cash Flow | Reported | 185.00 Mil | 190.00 Mil | 195.00 Mil | ||||
| Q4 2026 GRLNF | Reported | 671.00 Mil | 696.00 Mil | 721.00 Mil | ||||
| Q4 2026 Adjusted EBITDA | Reported | 332.00 Mil | 344.50 Mil | 357.00 Mil | ||||
| Q4 2026 Adjusted Free Cash Flow | Reported | 207.00 Mil | 212.00 Mil | 217.00 Mil | ||||
| 2026 Volume | Reported | 240.00 Bil | 250.00 Bil | 260.00 Bil | 0.0% | Affirmed | Guidance: 250.00 Bil for 2026 | |
| 2026 Revenue | Reported | 2.50 Bil | 2.55 Bil | 2.60 Bil | 0.0% | Affirmed | Guidance: 2.55 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 1.17 Bil | 1.19 Bil | 1.22 Bil | 0.0% | Affirmed | Guidance: 1.19 Bil for 2026 | |
| 2026 Non-GAAP EPS | Reported | 5.5 | 5.6 | 5.7 | 0.0% | Affirmed | Guidance: 5.6 for 2026 | |
| 2026 Adjusted Free Cash Flow | Reported | 490.00 Mil | 500.00 Mil | 510.00 Mil | 0.0% | Affirmed | Guidance: 500.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Gross Revenue Less Network Fees | Reported | 548.00 Mil | ||||||
| Q1 2026 Adjusted EBITDA | Reported | 233.00 Mil | ||||||
| Q1 2026 Adjusted Free Cash Flow | Reported | 70.00 Mil | ||||||
| 2026 Volume | Reported | 240.00 Bil | 250.00 Bil | 260.00 Bil | 19.9% | Higher New | Guidance: 208.50 Bil for 2025 | |
| 2026 Gross Revenue Less Network Fees | Reported | 2.50 Bil | 2.55 Bil | 2.60 Bil | 27.5% | Higher New | Guidance: 2.00 Bil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 1.17 Bil | 1.19 Bil | 1.22 Bil | 21.7% | Higher New | Guidance: 977.50 Mil for 2025 | |
| 2026 Non-GAAP EPS | Reported | 5.5 | 5.6 | 5.7 | ||||
| 2026 Adjusted Free Cash Flow | Reported | 490.00 Mil | 500.00 Mil | 510.00 Mil | ||||
Insider Activity
Updated 6/9/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Isaacman, Jared | Direct | Buy | 5132026 | 40.66 | 193,000 | 7,848,268 | 72,686,143 | Form | |
| 2 | Isaacman, Jared | Direct | Buy | 5132026 | 41.41 | 195,500 | 8,094,834 | 66,019,685 | Form | |
| 3 | Isaacman, Jared | Direct | Buy | 3112026 | 45.75 | 43,827 | 2,004,879 | 64,534,130 | Form | |
| 4 | Isaacman, Jared | Direct | Buy | 3042026 | 43.83 | 45,693 | 2,002,948 | 59,917,925 | Form | |
| 5 | Isaacman, Jared | Direct | Buy | 3022026 | 44.15 | 159,244 | 7,030,416 | 58,329,571 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Isaacman, Jared | Direct | Buy | 5132026 | 40.66 | 193,000 | 7,848,268 | 72,686,143 | Form | |
| 2 | Isaacman, Jared | Direct | Buy | 5132026 | 41.41 | 195,500 | 8,094,834 | 66,019,685 | Form | |
| 3 | Isaacman, Jared | Direct | Buy | 3112026 | 45.75 | 43,827 | 2,004,879 | 64,534,130 | Form | |
| 4 | Isaacman, Jared | Direct | Buy | 3042026 | 43.83 | 45,693 | 2,002,948 | 59,917,925 | Form | |
| 5 | Isaacman, Jared | Direct | Buy | 3022026 | 44.15 | 159,244 | 7,030,416 | 58,329,571 | Form | |
| 6 | Isaacman, Jared | Direct | Buy | 3022026 | 48.38 | 136,993 | 6,627,845 | 56,216,816 | Form | |
| 7 | Disman, Nancy | Direct | Sell | 12152025 | 69.50 | 5,000 | 347,500 | 9,064,190 | Form | |
| 8 | Lauber, David Taylor | Chief Executive Officer | Direct | Sell | 12152025 | 69.00 | 12,000 | 828,031 | 18,878,280 | Form |
| 9 | Whalen, James J | See Remarks | Direct | Sell | 11142025 | 71.50 | 1,438 | 102,817 | 3,913,624 | Form |
| 10 | Disman, Nancy | Chief Financial Officer | Direct | Sell | 9172025 | 87.28 | 5,000 | 436,404 | 11,819,566 | Form |
| 11 | Lauber, David Taylor | Chief Executive Officer | Direct | Sell | 9052025 | 88.59 | 2,500 | 221,475 | 25,300,241 | Form |
| 12 | Whalen, James J | See Remarks | Direct | Sell | 8192025 | 89.89 | 794 | 71,377 | 5,063,246 | Form |
| 13 | Isaacman, Jared | Executive Chairman | Direct | Buy | 8112025 | 83.61 | 104,705 | 8,754,040 | 78,566,470 | Form |
| 14 | Isaacman, Jared | Executive Chairman | Direct | Buy | 8112025 | 81.90 | 91,721 | 7,512,143 | 68,389,073 | Form |
| 15 | Davis, Karen Roter | Direct | Sell | 7022025 | 100.00 | 750 | 75,000 | 820,900 | Form | |
| 16 | Goldsmith-Grover, Sarah | Direct | Sell | 7022025 | 100.00 | 2,957 | 295,700 | 688,400 | Form | |
| 17 | Disman, Nancy | Chief Financial Officer | Direct | Sell | 6172025 | 90.33 | 10,000 | 903,319 | 15,141,616 | Form |
| 18 | Davis, Karen Roter | Direct | Sell | 6162025 | 94.53 | 2,757 | 260,619 | 623,142 | Form | |
| 19 | Goldsmith-Grover, Sarah | Direct | Sell | 6162025 | 94.53 | 1,000 | 94,530 | 706,517 | Form | |
| 20 | Frankel, Jordan | See Remarks | Direct | Sell | 6102025 | 94.57 | 5,000 | 472,864 | 21,510,984 | Form |
| 21 | Lauber, David Taylor | Chief Executive Officer | Direct | Sell | 6052025 | 94.47 | 2,500 | 236,175 | 24,276,995 | Form |
Investor Activity (13F)
Updated Sep 11, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Darlington Partners Capital Management, LP | $287.6 Mil | 12.9% | 10 | ADD +18.0% | 13F |
| Maestria Partners LLC | $22.6 Mil | 8.2% | 13 | Hold | 13F |
| Spyglass Capital Management LLC | $76.6 Mil | 5.4% | 25 | Hold | 13F |
| Goodnow Investment Group, LLC | $37.4 Mil | 4.1% | 29 | Hold | 13F |
| Durable Capital Partners LP | $269.6 Mil | 2.8% | 37 | TRIM -6.7% | 13F |
| Portman Square Capital LLP | $8.5 Mil | 1.3% | 44 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Darlington Partners Capital Management, LP | $287.6 Mil | 12.9% | 10 | ADD +18.0% | 13F |
| Durable Capital Partners LP | $269.6 Mil | 2.8% | 37 | TRIM -6.7% | 13F |
| Spyglass Capital Management LLC | $76.6 Mil | 5.4% | 25 | Hold | 13F |
| Goodnow Investment Group, LLC | $37.4 Mil | 4.1% | 29 | Hold | 13F |
| Maestria Partners LLC | $22.6 Mil | 8.2% | 13 | Hold | 13F |
| Portman Square Capital LLP | $8.5 Mil | 1.3% | 44 | Hold | 13F |
Shift4 Payments — Investor Video Playlist
Leadership
The Experience Economy: Delivering Moments That Matter | Shift4 CEO Taylor Lauber
Products & Services
How Airbox Bounce Connected Its Entire Venue with Shift4
Products & Services
Shoney's | Shift4 Dine
Products & Services
Shift4 & Shape: Redefining the World of Payment Facilitation
Products & Services
Shift4 Sports & Entertainment Powered by VenueNext
Products & Services
Secure Your Transaction Data with Tokenization
Products & Services
Events and Webhooks
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Transaction & Payment Processing Services Resources |
| PYMNTS |
| Payments Dive |
| The Paypers |
External Quote Links
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| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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