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Shift4 Payments, Inc.（FOUR）与帕森斯公司（PSN）财务数据对比。点击上方公司名可切换其他公司
帕森斯公司的季度营收约是Shift4 Payments, Inc.的1.3倍（$1.6B vs $1.2B），帕森斯公司净利率更高（3.5% vs 3.4%，领先0.1%），Shift4 Payments, Inc.同比增速更快（34.0% vs -7.5%），Shift4 Payments, Inc.自由现金流更多（$222.5M vs $135.6M），过去两年Shift4 Payments, Inc.的营收复合增速更高（29.6% vs 2.2%）
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。
帕森斯公司是一家总部位于美国弗吉尼亚州尚蒂利的跨国企业，1944年成立，核心业务覆盖国防、情报、基础设施工程领域，深耕技术研发，在全球30多个国家为政府及私营部门客户提供专业解决方案。
FOUR vs PSN — 直观对比
营收规模更大
PSN
是对方的1.3倍
$1.2B
营收增速更快
FOUR
高出41.5%
-7.5%
净利率更高
PSN
高出0.1%
3.4%
自由现金流更多
FOUR
多$86.9M
$135.6M
两年增速更快
FOUR
近两年复合增速
2.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.6B |
| 净利润 | $40.2M | $55.6M |
| 毛利率 | — | 23.0% |
| 营业利润率 | 10.8% | 6.6% |
| 净利率 | 3.4% | 3.5% |
| 营收同比 | 34.0% | -7.5% |
| 净利润同比 | -65.3% | -72.4% |
| 每股收益（稀释后） | — | $0.51 |
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FOURPSN
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.2B | $1.6B | ||
| Q2 25 | $966.2M | $1.6B | ||
| Q1 25 | $848.3M | $1.6B | ||
| Q4 24 | $887.0M | $1.7B | ||
| Q3 24 | $909.2M | $1.8B | ||
| Q2 24 | $827.0M | $1.7B | ||
| Q1 24 | $707.4M | $1.5B |
净利润FOURPSN
| Q4 25 | $40.2M | $55.6M | ||
| Q3 25 | $28.1M | $64.1M | ||
| Q2 25 | $34.0M | $55.2M | ||
| Q1 25 | $16.7M | $66.2M | ||
| Q4 24 | $116.0M | $201.3M | ||
| Q3 24 | $53.8M | $72.0M | ||
| Q2 24 | $39.2M | $69.2M | ||
| Q1 24 | $20.6M | $-107.4M |
毛利率FOURPSN
| Q4 25 | — | 23.0% | ||
| Q3 25 | — | 22.2% | ||
| Q2 25 | — | 22.0% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | — | 21.3% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% | ||
| Q1 24 | — | 21.2% |
营业利润率FOURPSN
| Q4 25 | 10.8% | 6.6% | ||
| Q3 25 | 9.7% | 6.7% | ||
| Q2 25 | 8.6% | 6.0% | ||
| Q1 25 | 3.0% | 7.0% | ||
| Q4 24 | 9.7% | 5.8% | ||
| Q3 24 | 8.8% | 6.4% | ||
| Q2 24 | 7.2% | 6.7% | ||
| Q1 24 | 3.0% | 6.6% |
净利率FOURPSN
| Q4 25 | 3.4% | 3.5% | ||
| Q3 25 | 2.4% | 4.0% | ||
| Q2 25 | 3.5% | 3.5% | ||
| Q1 25 | 2.0% | 4.3% | ||
| Q4 24 | 13.1% | 11.6% | ||
| Q3 24 | 5.9% | 4.0% | ||
| Q2 24 | 4.7% | 4.1% | ||
| Q1 24 | 2.9% | -7.0% |
每股收益（稀释后）FOURPSN
| Q4 25 | — | $0.51 | ||
| Q3 25 | — | $0.59 | ||
| Q2 25 | — | $0.50 | ||
| Q1 25 | — | $0.60 | ||
| Q4 24 | — | $1.85 | ||
| Q3 24 | — | $0.65 | ||
| Q2 24 | — | $0.63 | ||
| Q1 24 | — | $-1.01 |
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 | $466.4M |
| 总债务越低越好 | $4.5B | $1.2B |
| 股东权益账面价值 | $1.4B | $2.6B |
| 总资产 | $8.7B | $5.8B |
| 负债/权益比越低杠杆越低 | 3.15× | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资FOURPSN
| Q4 25 | $964.0M | $466.4M | ||
| Q3 25 | $1.5B | $422.6M | ||
| Q2 25 | $3.0B | $411.3M | ||
| Q1 25 | $1.2B | $269.7M | ||
| Q4 24 | $1.2B | $453.5M | ||
| Q3 24 | $1.4B | $558.8M | ||
| Q2 24 | $205.0M | $528.5M | ||
| Q1 24 | $522.9M | $423.1M |
总债务FOURPSN
| Q4 25 | $4.5B | $1.2B | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $3.7B | $1.2B | ||
| Q1 25 | $2.8B | $785.2M | ||
| Q4 24 | $2.8B | $784.1M | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益FOURPSN
| Q4 25 | $1.4B | $2.6B | ||
| Q3 25 | $1.7B | $2.6B | ||
| Q2 25 | $1.6B | $2.5B | ||
| Q1 25 | $805.2M | $2.5B | ||
| Q4 24 | $806.6M | $2.4B | ||
| Q3 24 | $811.8M | $2.3B | ||
| Q2 24 | $700.8M | $2.2B | ||
| Q1 24 | $674.5M | $2.1B |
总资产FOURPSN
| Q4 25 | $8.7B | $5.8B | ||
| Q3 25 | $9.0B | $5.7B | ||
| Q2 25 | $7.0B | $5.7B | ||
| Q1 25 | $5.0B | $5.4B | ||
| Q4 24 | $5.0B | $5.5B | ||
| Q3 24 | $5.0B | $5.4B | ||
| Q2 24 | $3.5B | $5.2B | ||
| Q1 24 | $3.4B | $5.1B |
负债/权益比FOURPSN
| Q4 25 | 3.15× | 0.47× | ||
| Q3 25 | 2.83× | 0.48× | ||
| Q2 25 | 2.34× | 0.49× | ||
| Q1 25 | 3.53× | 0.32× | ||
| Q4 24 | 3.52× | 0.32× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.58× |
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 | $167.5M |
| 自由现金流经营现金流 - 资本支出 | $222.5M | $135.6M |
| 自由现金流率自由现金流/营收 | 18.7% | 8.5% |
| 资本支出强度资本支出/营收 | 0.1% | 2.0% |
| 现金转化率经营现金流/净利润 | 5.56× | 3.01× |
| 过去12个月自由现金流最近4个季度 | $624.0M | $410.4M |
8季度趋势，按日历期对齐
经营现金流FOURPSN
| Q4 25 | $223.7M | $167.5M | ||
| Q3 25 | $171.8M | $162.8M | ||
| Q2 25 | $141.9M | $159.8M | ||
| Q1 25 | $96.6M | $-11.8M | ||
| Q4 24 | $145.4M | $126.8M | ||
| Q3 24 | $182.1M | $299.0M | ||
| Q2 24 | $116.1M | $161.2M | ||
| Q1 24 | $56.7M | $-63.4M |
自由现金流FOURPSN
| Q4 25 | $222.5M | $135.6M | ||
| Q3 25 | $165.4M | $149.7M | ||
| Q2 25 | $141.0M | $150.4M | ||
| Q1 25 | $95.1M | $-25.3M | ||
| Q4 24 | $143.8M | $108.0M | ||
| Q3 24 | $180.1M | $287.3M | ||
| Q2 24 | $113.9M | $152.0M | ||
| Q1 24 | $55.4M | $-72.9M |
自由现金流率FOURPSN
| Q4 25 | 18.7% | 8.5% | ||
| Q3 25 | 14.1% | 9.2% | ||
| Q2 25 | 14.6% | 9.5% | ||
| Q1 25 | 11.2% | -1.6% | ||
| Q4 24 | 16.2% | 6.2% | ||
| Q3 24 | 19.8% | 15.9% | ||
| Q2 24 | 13.8% | 9.1% | ||
| Q1 24 | 7.8% | -4.7% |
资本支出强度FOURPSN
| Q4 25 | 0.1% | 2.0% | ||
| Q3 25 | 0.5% | 0.8% | ||
| Q2 25 | 0.1% | 0.6% | ||
| Q1 25 | 0.2% | 0.9% | ||
| Q4 24 | 0.2% | 1.1% | ||
| Q3 24 | 0.2% | 0.6% | ||
| Q2 24 | 0.3% | 0.6% | ||
| Q1 24 | 0.2% | 0.6% |
现金转化率FOURPSN
| Q4 25 | 5.56× | 3.01× | ||
| Q3 25 | 6.11× | 2.54× | ||
| Q2 25 | 4.17× | 2.89× | ||
| Q1 25 | 5.78× | -0.18× | ||
| Q4 24 | 1.25× | 0.63× | ||
| Q3 24 | 3.38× | 4.16× | ||
| Q2 24 | 2.96× | 2.33× | ||
| Q1 24 | 2.75× | — |
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% |
PSN
| Unconsolidated Joint Ventures | $582.1M | 36% |
| Defense And Intelligence | $502.8M | 31% |
| Engineered Systems | $281.4M | 18% |
| Consolidated Joint Ventures | $216.7M | 14% |
| TRS Group Inc | $9.4M | 1% |
