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Side-by-side financial comparison of Shift4 Payments, Inc. (FOUR) and Stride, Inc. (LRN). Click either name above to swap in a different company.
Shift4 Payments, Inc. is the larger business by last-quarter revenue ($1.2B vs $629.9M, roughly 1.9× Stride, Inc.). Stride, Inc. runs the higher net margin — 14.1% vs 3.4%, a 10.7% gap on every dollar of revenue. On growth, Shift4 Payments, Inc. posted the faster year-over-year revenue change (34.0% vs 2.7%). Over the past eight quarters, Shift4 Payments, Inc.'s revenue compounded faster (29.6% CAGR vs 6.9%).
Shift4 Payments, Inc. is an American payment processing company based in Allentown, Pennsylvania. The company, founded in 1999 by the then 16-year-old Jared Isaacman, processes payments for over 200,000 businesses in the retail, hospitality, leisure, and restaurant industries. Shift4 specializes in commerce technology such as mobile payment software and hardware. The company was publicly listed on the New York Stock Exchange in 2020.
Stride, Inc. is a for-profit education company that provides online and blended education programs. Stride, Inc. is an education management organization (EMO) that provides online education designed as an alternative to traditional "brick and mortar" education for public school students from kindergarten to 12th grade, as well as career learning programs. As of 2012, publicly traded Stride, Inc. was the largest EMO in terms of enrollment.
FOUR vs LRN — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $629.9M |
| Net Profit | $40.2M | $88.5M |
| Gross Margin | — | — |
| Operating Margin | 10.8% | 20.5% |
| Net Margin | 3.4% | 14.1% |
| Revenue YoY | 34.0% | 2.7% |
| Net Profit YoY | -65.3% | 8.5% |
| EPS (diluted) | — | $1.93 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 26 | — | $629.9M | ||
| Q4 25 | $1.2B | $631.3M | ||
| Q3 25 | $1.2B | $620.9M | ||
| Q2 25 | $966.2M | $653.6M | ||
| Q1 25 | $848.3M | $613.4M | ||
| Q4 24 | $887.0M | $587.2M | ||
| Q3 24 | $909.2M | $551.1M | ||
| Q2 24 | $827.0M | — |
| Q3 26 | — | $88.5M | ||
| Q4 25 | $40.2M | $99.5M | ||
| Q3 25 | $28.1M | $68.8M | ||
| Q2 25 | $34.0M | $51.3M | ||
| Q1 25 | $16.7M | $99.3M | ||
| Q4 24 | $116.0M | $96.4M | ||
| Q3 24 | $53.8M | $40.9M | ||
| Q2 24 | $39.2M | — |
| Q3 26 | — | — | ||
| Q4 25 | — | 41.1% | ||
| Q3 25 | — | 39.0% | ||
| Q2 25 | — | 36.6% | ||
| Q1 25 | — | 40.6% | ||
| Q4 24 | — | 40.8% | ||
| Q3 24 | — | 39.2% | ||
| Q2 24 | — | — |
| Q3 26 | — | 20.5% | ||
| Q4 25 | 10.8% | 23.3% | ||
| Q3 25 | 9.7% | 11.1% | ||
| Q2 25 | 8.6% | 8.7% | ||
| Q1 25 | 3.0% | 21.3% | ||
| Q4 24 | 9.7% | 21.3% | ||
| Q3 24 | 8.8% | 8.6% | ||
| Q2 24 | 7.2% | — |
| Q3 26 | — | 14.1% | ||
| Q4 25 | 3.4% | 15.8% | ||
| Q3 25 | 2.4% | 11.1% | ||
| Q2 25 | 3.5% | 7.9% | ||
| Q1 25 | 2.0% | 16.2% | ||
| Q4 24 | 13.1% | 16.4% | ||
| Q3 24 | 5.9% | 7.4% | ||
| Q2 24 | 4.7% | — |
| Q3 26 | — | $1.93 | ||
| Q4 25 | — | $2.12 | ||
| Q3 25 | — | $1.40 | ||
| Q2 25 | — | $0.96 | ||
| Q1 25 | — | $2.02 | ||
| Q4 24 | — | $2.03 | ||
| Q3 24 | — | $0.94 | ||
| Q2 24 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $964.0M | $614.0M |
| Total DebtLower is stronger | $4.5B | $417.6M |
| Stockholders' EquityBook value | $1.4B | $1.6B |
| Total Assets | $8.7B | $2.4B |
| Debt / EquityLower = less leverage | 3.15× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q3 26 | — | $614.0M | ||
| Q4 25 | $964.0M | $625.7M | ||
| Q3 25 | $1.5B | $715.1M | ||
| Q2 25 | $3.0B | $985.3M | ||
| Q1 25 | $1.2B | $723.7M | ||
| Q4 24 | $1.2B | $717.5M | ||
| Q3 24 | $1.4B | $522.2M | ||
| Q2 24 | $205.0M | — |
| Q3 26 | — | $417.6M | ||
| Q4 25 | $4.5B | $417.2M | ||
| Q3 25 | $4.7B | $416.8M | ||
| Q2 25 | $3.7B | $416.3M | ||
| Q1 25 | $2.8B | $415.9M | ||
| Q4 24 | $2.8B | $415.5M | ||
| Q3 24 | — | $415.1M | ||
| Q2 24 | — | — |
| Q3 26 | — | $1.6B | ||
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.6B | $1.5B | ||
| Q1 25 | $805.2M | $1.4B | ||
| Q4 24 | $806.6M | $1.3B | ||
| Q3 24 | $811.8M | $1.2B | ||
| Q2 24 | $700.8M | — |
| Q3 26 | — | $2.4B | ||
| Q4 25 | $8.7B | $2.3B | ||
| Q3 25 | $9.0B | $2.3B | ||
| Q2 25 | $7.0B | $2.3B | ||
| Q1 25 | $5.0B | $2.2B | ||
| Q4 24 | $5.0B | $2.1B | ||
| Q3 24 | $5.0B | $2.0B | ||
| Q2 24 | $3.5B | — |
| Q3 26 | — | 0.25× | ||
| Q4 25 | 3.15× | 0.27× | ||
| Q3 25 | 2.83× | 0.27× | ||
| Q2 25 | 2.34× | 0.28× | ||
| Q1 25 | 3.53× | 0.29× | ||
| Q4 24 | 3.52× | 0.32× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $223.7M | $117.0M |
| Free Cash FlowOCF − Capex | $222.5M | — |
| FCF MarginFCF / Revenue | 18.7% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 5.56× | 1.32× |
| TTM Free Cash FlowTrailing 4 quarters | $624.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 26 | — | $117.0M | ||
| Q4 25 | $223.7M | $91.8M | ||
| Q3 25 | $171.8M | $-195.8M | ||
| Q2 25 | $141.9M | $298.3M | ||
| Q1 25 | $96.6M | $53.1M | ||
| Q4 24 | $145.4M | $223.4M | ||
| Q3 24 | $182.1M | $-142.0M | ||
| Q2 24 | $116.1M | — |
| Q3 26 | — | — | ||
| Q4 25 | $222.5M | $91.6M | ||
| Q3 25 | $165.4M | $-196.1M | ||
| Q2 25 | $141.0M | $297.9M | ||
| Q1 25 | $95.1M | $52.9M | ||
| Q4 24 | $143.8M | $222.9M | ||
| Q3 24 | $180.1M | $-142.7M | ||
| Q2 24 | $113.9M | — |
| Q3 26 | — | — | ||
| Q4 25 | 18.7% | 14.5% | ||
| Q3 25 | 14.1% | -31.6% | ||
| Q2 25 | 14.6% | 45.6% | ||
| Q1 25 | 11.2% | 8.6% | ||
| Q4 24 | 16.2% | 38.0% | ||
| Q3 24 | 19.8% | -25.9% | ||
| Q2 24 | 13.8% | — |
| Q3 26 | — | — | ||
| Q4 25 | 0.1% | 0.0% | ||
| Q3 25 | 0.5% | 0.0% | ||
| Q2 25 | 0.1% | 0.1% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | 0.2% | 0.1% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.3% | — |
| Q3 26 | — | 1.32× | ||
| Q4 25 | 5.56× | 0.92× | ||
| Q3 25 | 6.11× | -2.85× | ||
| Q2 25 | 4.17× | 5.81× | ||
| Q1 25 | 5.78× | 0.53× | ||
| Q4 24 | 1.25× | 2.32× | ||
| Q3 24 | 3.38× | -3.47× | ||
| Q2 24 | 2.96× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOUR
| Payments Based Revenue | $788.8M | 66% |
| Other | $255.0M | 21% |
| Subscription And Other Revenues | $144.8M | 12% |
LRN
| General Education | $357.5M | 57% |
| Middle - High School | $259.5M | 41% |
| Adult | $12.9M | 2% |
