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Shift4 Payments, Inc.（FOUR）与Global Payments（GPN）财务数据对比。点击上方公司名可切换其他公司
Global Payments的季度营收约是Shift4 Payments, Inc.的1.1倍（$1.3B vs $1.2B），Global Payments净利率更高（16.4% vs 3.4%，领先13.0%），Shift4 Payments, Inc.同比增速更快（34.0% vs -47.1%），Global Payments自由现金流更多（$347.0M vs $222.5M），过去两年Shift4 Payments, Inc.的营收复合增速更高（29.6% vs -25.9%）
Shift4 Payments是美国支付处理服务商，总部位于宾夕法尼亚州阿伦敦，1999年由贾里德·艾萨克曼创立。公司为零售、酒店、休闲、餐饮等行业超20万家商户提供支付处理服务，主营移动支付软硬件等商业技术，2020年于纽约证券交易所挂牌上市。
Global Payments Inc.是美国跨国金融科技企业，面向商户、发卡机构及消费者提供支付技术与相关服务，支持信用卡、借记卡、数字支付及非接触式支付的交易处理，2021年6月入选《财富》500强榜单。
FOUR vs GPN — 直观对比
营收规模更大
GPN
是对方的1.1倍
$1.2B
营收增速更快
FOUR
高出81.2%
-47.1%
净利率更高
GPN
高出13.0%
3.4%
自由现金流更多
GPN
多$124.5M
$222.5M
两年增速更快
FOUR
近两年复合增速
-25.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.3B |
| 净利润 | $40.2M | $217.5M |
| 毛利率 | — | 89.7% |
| 营业利润率 | 10.8% | 5.9% |
| 净利率 | 3.4% | 16.4% |
| 营收同比 | 34.0% | -47.1% |
| 净利润同比 | -65.3% | -61.6% |
| 每股收益（稀释后） | — | $0.91 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FOURGPN
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.2B | $2.0B | ||
| Q2 25 | $966.2M | $2.0B | ||
| Q1 25 | $848.3M | $2.4B | ||
| Q4 24 | $887.0M | $2.5B | ||
| Q3 24 | $909.2M | $2.6B | ||
| Q2 24 | $827.0M | $2.6B | ||
| Q1 24 | $707.4M | $2.4B |
净利润FOURGPN
| Q4 25 | $40.2M | $217.5M | ||
| Q3 25 | $28.1M | $635.2M | ||
| Q2 25 | $34.0M | $241.6M | ||
| Q1 25 | $16.7M | $305.7M | ||
| Q4 24 | $116.0M | $567.2M | ||
| Q3 24 | $53.8M | $315.1M | ||
| Q2 24 | $39.2M | $374.8M | ||
| Q1 24 | $20.6M | $313.3M |
毛利率FOURGPN
| Q4 25 | — | 89.7% | ||
| Q3 25 | — | 72.3% | ||
| Q2 25 | — | 74.5% | ||
| Q1 25 | — | 61.8% | ||
| Q4 24 | — | 62.1% | ||
| Q3 24 | — | 63.6% | ||
| Q2 24 | — | 63.5% | ||
| Q1 24 | — | 61.9% |
营业利润率FOURGPN
| Q4 25 | 10.8% | 5.9% | ||
| Q3 25 | 9.7% | 38.8% | ||
| Q2 25 | 8.6% | 21.8% | ||
| Q1 25 | 3.0% | 19.5% | ||
| Q4 24 | 9.7% | 33.1% | ||
| Q3 24 | 8.8% | 18.3% | ||
| Q2 24 | 7.2% | 22.3% | ||
| Q1 24 | 3.0% | 18.7% |
净利率FOURGPN
| Q4 25 | 3.4% | 16.4% | ||
| Q3 25 | 2.4% | 31.6% | ||
| Q2 25 | 3.5% | 12.3% | ||
| Q1 25 | 2.0% | 12.7% | ||
| Q4 24 | 13.1% | 22.5% | ||
| Q3 24 | 5.9% | 12.1% | ||
| Q2 24 | 4.7% | 14.6% | ||
| Q1 24 | 2.9% | 12.9% |
每股收益（稀释后）FOURGPN
| Q4 25 | — | $0.91 | ||
| Q3 25 | — | $2.64 | ||
| Q2 25 | — | $0.99 | ||
| Q1 25 | — | $1.24 | ||
| Q4 24 | — | $2.23 | ||
| Q3 24 | — | $1.24 | ||
| Q2 24 | — | $1.47 | ||
| Q1 24 | — | $1.22 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $964.0M | $8.3B |
| 总债务越低越好 | $4.5B | $19.5B |
| 股东权益账面价值 | $1.4B | $22.9B |
| 总资产 | $8.7B | $53.3B |
| 负债/权益比越低杠杆越低 | 3.15× | 0.85× |
8季度趋势，按日历期对齐
现金及短期投资FOURGPN
| Q4 25 | $964.0M | $8.3B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $3.0B | $2.6B | ||
| Q1 25 | $1.2B | $2.9B | ||
| Q4 24 | $1.2B | $2.5B | ||
| Q3 24 | $1.4B | $2.9B | ||
| Q2 24 | $205.0M | $2.1B | ||
| Q1 24 | $522.9M | $2.2B |
总债务FOURGPN
| Q4 25 | $4.5B | $19.5B | ||
| Q3 25 | $4.7B | $13.3B | ||
| Q2 25 | $3.7B | $14.2B | ||
| Q1 25 | $2.8B | $15.0B | ||
| Q4 24 | $2.8B | $15.2B | ||
| Q3 24 | — | $15.2B | ||
| Q2 24 | — | $15.6B | ||
| Q1 24 | — | $15.6B |
股东权益FOURGPN
| Q4 25 | $1.4B | $22.9B | ||
| Q3 25 | $1.7B | $22.7B | ||
| Q2 25 | $1.6B | $22.6B | ||
| Q1 25 | $805.2M | $22.2B | ||
| Q4 24 | $806.6M | $22.3B | ||
| Q3 24 | $811.8M | $22.8B | ||
| Q2 24 | $700.8M | $22.4B | ||
| Q1 24 | $674.5M | $22.2B |
总资产FOURGPN
| Q4 25 | $8.7B | $53.3B | ||
| Q3 25 | $9.0B | $48.0B | ||
| Q2 25 | $7.0B | $48.5B | ||
| Q1 25 | $5.0B | $47.6B | ||
| Q4 24 | $5.0B | $46.9B | ||
| Q3 24 | $5.0B | $50.0B | ||
| Q2 24 | $3.5B | $50.8B | ||
| Q1 24 | $3.4B | $51.8B |
负债/权益比FOURGPN
| Q4 25 | 3.15× | 0.85× | ||
| Q3 25 | 2.83× | 0.59× | ||
| Q2 25 | 2.34× | 0.63× | ||
| Q1 25 | 3.53× | 0.67× | ||
| Q4 24 | 3.52× | 0.68× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.70× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $223.7M | $515.2M |
| 自由现金流经营现金流 - 资本支出 | $222.5M | $347.0M |
| 自由现金流率自由现金流/营收 | 18.7% | 26.1% |
| 资本支出强度资本支出/营收 | 0.1% | 12.7% |
| 现金转化率经营现金流/净利润 | 5.56× | 2.37× |
| 过去12个月自由现金流最近4个季度 | $624.0M | $2.0B |
8季度趋势，按日历期对齐
经营现金流FOURGPN
| Q4 25 | $223.7M | $515.2M | ||
| Q3 25 | $171.8M | $768.7M | ||
| Q2 25 | $141.9M | $817.5M | ||
| Q1 25 | $96.6M | $555.1M | ||
| Q4 24 | $145.4M | $653.4M | ||
| Q3 24 | $182.1M | $1.7B | ||
| Q2 24 | $116.1M | $736.9M | ||
| Q1 24 | $56.7M | $416.3M |
自由现金流FOURGPN
| Q4 25 | $222.5M | $347.0M | ||
| Q3 25 | $165.4M | $598.9M | ||
| Q2 25 | $141.0M | $665.4M | ||
| Q1 25 | $95.1M | $427.5M | ||
| Q4 24 | $143.8M | $469.4M | ||
| Q3 24 | $180.1M | $1.6B | ||
| Q2 24 | $113.9M | $557.7M | ||
| Q1 24 | $55.4M | $270.9M |
自由现金流率FOURGPN
| Q4 25 | 18.7% | 26.1% | ||
| Q3 25 | 14.1% | 29.8% | ||
| Q2 25 | 14.6% | 34.0% | ||
| Q1 25 | 11.2% | 17.7% | ||
| Q4 24 | 16.2% | 18.7% | ||
| Q3 24 | 19.8% | 60.0% | ||
| Q2 24 | 13.8% | 21.7% | ||
| Q1 24 | 7.8% | 11.2% |
资本支出强度FOURGPN
| Q4 25 | 0.1% | 12.7% | ||
| Q3 25 | 0.5% | 8.5% | ||
| Q2 25 | 0.1% | 7.8% | ||
| Q1 25 | 0.2% | 5.3% | ||
| Q4 24 | 0.2% | 7.3% | ||
| Q3 24 | 0.2% | 6.4% | ||
| Q2 24 | 0.3% | 7.0% | ||
| Q1 24 | 0.2% | 6.0% |
现金转化率FOURGPN
| Q4 25 | 5.56× | 2.37× | ||
| Q3 25 | 6.11× | 1.21× | ||
| Q2 25 | 4.17× | 3.38× | ||
| Q1 25 | 5.78× | 1.82× | ||
| Q4 24 | 1.25× | 1.15× | ||
| Q3 24 | 3.38× | 5.48× | ||
| Q2 24 | 2.96× | 1.97× | ||
| Q1 24 | 2.75× | 1.33× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
FOUR
| Payments Based Revenue | $788.8M | 66% |
| Other | $255.0M | 21% |
| Subscription And Other Revenues | $144.8M | 12% |
GPN
| Integrated And Embedded Solutions | $869.3M | 65% |
| Point Of Sale And Software Solutions | $281.7M | 21% |
| Other | $178.4M | 13% |
