Is the business good?
How good a business is FOUR?
Shift4 Payments, Inc. earns 5.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
5.3%
Return on invested capital · cost of capital 9.0% · 3.7 points below what the capital costs: growth destroys value
- Operating margin
- 8.1%
Operating margin · Software - Infrastructure median 6.1% · 12 months to Q2 2026
- Gross margin
- 36%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −7.5% |
| FY2021 | −3.6% |
| FY2022 | 4.8% |
| FY2023 | 4.5% |
| FY2024 | 7.4% |
| FY2025 | 8.4% |
Details›
- Gross margin12 months to Q2 2026
- 36%
- Operating margin12 months to Q2 2026
- 8.1%
- Net margin12 months to Q2 2026
- 2.2%
- Free cash flow margin
- 12%
- Revenue, trailing twelve months
- $4.78B
- Free cash flow, trailing twelve months
- $573M
- Net income, trailing twelve months
- $105M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 5.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Infrastructure
Ranks #54 of 78 by Smart Score