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Shift4 Payments, Inc.（FOUR）与利氏兄弟拍卖行（RBA）财务数据对比。点击上方公司名可切换其他公司
利氏兄弟拍卖行的季度营收约是Shift4 Payments, Inc.的1.0倍（$1.2B vs $1.2B），利氏兄弟拍卖行净利率更高（9.1% vs 3.4%，领先5.7%），Shift4 Payments, Inc.同比增速更快（34.0% vs 5.4%），Shift4 Payments, Inc.自由现金流更多（$222.5M vs $186.5M），过去两年Shift4 Payments, Inc.的营收复合增速更高（29.6% vs 6.3%）
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。
利氏兄弟拍卖行（股票代码RBA）是全球知名的工业资产拍卖服务商，注册地位于加拿大，属公开上市企业，总部设在美国伊利诺伊州韦斯特切斯特，普通股同时在多伦多证券交易所与纽约证券交易所挂牌交易。
FOUR vs RBA — 直观对比
营收规模更大
RBA
是对方的1.0倍
$1.2B
营收增速更快
FOUR
高出28.6%
5.4%
净利率更高
RBA
高出5.7%
3.4%
自由现金流更多
FOUR
多$36.0M
$186.5M
两年增速更快
FOUR
近两年复合增速
6.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $40.2M | $109.7M |
| 毛利率 | — | — |
| 营业利润率 | 10.8% | 14.7% |
| 净利率 | 3.4% | 9.1% |
| 营收同比 | 34.0% | 5.4% |
| 净利润同比 | -65.3% | -7.4% |
| 每股收益（稀释后） | — | $0.53 |
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FOURRBA
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $966.2M | $1.2B | ||
| Q1 25 | $848.3M | $1.1B | ||
| Q4 24 | $887.0M | $1.1B | ||
| Q3 24 | $909.2M | $981.8M | ||
| Q2 24 | $827.0M | $1.1B | ||
| Q1 24 | $707.4M | $1.1B |
净利润FOURRBA
| Q4 25 | $40.2M | $109.7M | ||
| Q3 25 | $28.1M | $95.5M | ||
| Q2 25 | $34.0M | $109.8M | ||
| Q1 25 | $16.7M | $113.4M | ||
| Q4 24 | $116.0M | $118.5M | ||
| Q3 24 | $53.8M | $76.1M | ||
| Q2 24 | $39.2M | $111.1M | ||
| Q1 24 | $20.6M | $107.4M |
营业利润率FOURRBA
| Q4 25 | 10.8% | 14.7% | ||
| Q3 25 | 9.7% | 14.5% | ||
| Q2 25 | 8.6% | 15.9% | ||
| Q1 25 | 3.0% | 17.1% | ||
| Q4 24 | 9.7% | 18.1% | ||
| Q3 24 | 8.8% | 15.6% | ||
| Q2 24 | 7.2% | 18.4% | ||
| Q1 24 | 3.0% | 18.7% |
净利率FOURRBA
| Q4 25 | 3.4% | 9.1% | ||
| Q3 25 | 2.4% | 8.7% | ||
| Q2 25 | 3.5% | 9.3% | ||
| Q1 25 | 2.0% | 10.2% | ||
| Q4 24 | 13.1% | 10.4% | ||
| Q3 24 | 5.9% | 7.8% | ||
| Q2 24 | 4.7% | 10.1% | ||
| Q1 24 | 2.9% | 10.1% |
每股收益（稀释后）FOURRBA
| Q4 25 | — | $0.53 | ||
| Q3 25 | — | $0.43 | ||
| Q2 25 | — | $0.53 | ||
| Q1 25 | — | $0.55 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | — | $0.36 | ||
| Q2 24 | — | $0.54 | ||
| Q1 24 | — | $0.53 |
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 | $531.5M |
| 总债务越低越好 | $4.5B | $2.3B |
| 股东权益账面价值 | $1.4B | $5.6B |
| 总资产 | $8.7B | $12.1B |
| 负债/权益比越低杠杆越低 | 3.15× | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资FOURRBA
| Q4 25 | $964.0M | $531.5M | ||
| Q3 25 | $1.5B | $674.7M | ||
| Q2 25 | $3.0B | $710.2M | ||
| Q1 25 | $1.2B | $578.1M | ||
| Q4 24 | $1.2B | $533.9M | ||
| Q3 24 | $1.4B | $650.7M | ||
| Q2 24 | $205.0M | $599.5M | ||
| Q1 24 | $522.9M | $462.8M |
总债务FOURRBA
| Q4 25 | $4.5B | $2.3B | ||
| Q3 25 | $4.7B | $2.6B | ||
| Q2 25 | $3.7B | $2.6B | ||
| Q1 25 | $2.8B | $2.6B | ||
| Q4 24 | $2.8B | $2.6B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.9B |
股东权益FOURRBA
| Q4 25 | $1.4B | $5.6B | ||
| Q3 25 | $1.7B | $5.5B | ||
| Q2 25 | $1.6B | $5.5B | ||
| Q1 25 | $805.2M | $5.3B | ||
| Q4 24 | $806.6M | $5.2B | ||
| Q3 24 | $811.8M | $5.2B | ||
| Q2 24 | $700.8M | $5.2B | ||
| Q1 24 | $674.5M | $5.1B |
总资产FOURRBA
| Q4 25 | $8.7B | $12.1B | ||
| Q3 25 | $9.0B | $12.2B | ||
| Q2 25 | $7.0B | $12.2B | ||
| Q1 25 | $5.0B | $11.9B | ||
| Q4 24 | $5.0B | $11.8B | ||
| Q3 24 | $5.0B | $11.9B | ||
| Q2 24 | $3.5B | $12.1B | ||
| Q1 24 | $3.4B | $12.0B |
负债/权益比FOURRBA
| Q4 25 | 3.15× | 0.42× | ||
| Q3 25 | 2.83× | 0.47× | ||
| Q2 25 | 2.34× | 0.47× | ||
| Q1 25 | 3.53× | 0.50× | ||
| Q4 24 | 3.52× | 0.50× | ||
| Q3 24 | — | 0.52× | ||
| Q2 24 | — | 0.55× | ||
| 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 | $255.2M |
| 自由现金流经营现金流 - 资本支出 | $222.5M | $186.5M |
| 自由现金流率自由现金流/营收 | 18.7% | 15.5% |
| 资本支出强度资本支出/营收 | 0.1% | 5.7% |
| 现金转化率经营现金流/净利润 | 5.56× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $624.0M | $719.2M |
8季度趋势，按日历期对齐
经营现金流FOURRBA
| Q4 25 | $223.7M | $255.2M | ||
| Q3 25 | $171.8M | $239.7M | ||
| Q2 25 | $141.9M | $326.5M | ||
| Q1 25 | $96.6M | $156.8M | ||
| Q4 24 | $145.4M | $184.5M | ||
| Q3 24 | $182.1M | $285.4M | ||
| Q2 24 | $116.1M | $337.3M | ||
| Q1 24 | $56.7M | $124.8M |
自由现金流FOURRBA
| Q4 25 | $222.5M | $186.5M | ||
| Q3 25 | $165.4M | $188.5M | ||
| Q2 25 | $141.0M | $241.7M | ||
| Q1 25 | $95.1M | $102.5M | ||
| Q4 24 | $143.8M | $127.9M | ||
| Q3 24 | $180.1M | $248.5M | ||
| Q2 24 | $113.9M | $308.6M | ||
| Q1 24 | $55.4M | $79.6M |
自由现金流率FOURRBA
| Q4 25 | 18.7% | 15.5% | ||
| Q3 25 | 14.1% | 17.3% | ||
| Q2 25 | 14.6% | 20.4% | ||
| Q1 25 | 11.2% | 9.2% | ||
| Q4 24 | 16.2% | 11.2% | ||
| Q3 24 | 19.8% | 25.3% | ||
| Q2 24 | 13.8% | 28.2% | ||
| Q1 24 | 7.8% | 7.5% |
资本支出强度FOURRBA
| Q4 25 | 0.1% | 5.7% | ||
| Q3 25 | 0.5% | 4.7% | ||
| Q2 25 | 0.1% | 7.2% | ||
| Q1 25 | 0.2% | 4.9% | ||
| Q4 24 | 0.2% | 5.0% | ||
| Q3 24 | 0.2% | 3.8% | ||
| Q2 24 | 0.3% | 2.6% | ||
| Q1 24 | 0.2% | 4.2% |
现金转化率FOURRBA
| Q4 25 | 5.56× | 2.33× | ||
| Q3 25 | 6.11× | 2.51× | ||
| Q2 25 | 4.17× | 2.97× | ||
| Q1 25 | 5.78× | 1.38× | ||
| Q4 24 | 1.25× | 1.56× | ||
| Q3 24 | 3.38× | 3.75× | ||
| Q2 24 | 2.96× | 3.04× | ||
| Q1 24 | 2.75× | 1.16× |
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% |
RBA
| Buyer Revenue | $577.2M | 48% |
| Seller Revenue | $255.2M | 21% |
| CA | $199.0M | 17% |
| Other | $124.7M | 10% |
| AU | $47.3M | 4% |
