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Shift4 Payments, Inc.（FOUR）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
Shift4 Payments, Inc.的季度营收约是Reddit, Inc.的1.6倍（$1.2B vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 3.4%，领先31.3%），Reddit, Inc.同比增速更快（69.7% vs 34.0%），Reddit, Inc.自由现金流更多（$263.6M vs $222.5M），过去两年Reddit, Inc.的营收复合增速更高（72.8% vs 29.6%）
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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
FOUR vs RDDT — 直观对比
营收规模更大
FOUR
是对方的1.6倍
$725.6M
营收增速更快
RDDT
高出35.6%
34.0%
净利率更高
RDDT
高出31.3%
3.4%
自由现金流更多
RDDT
多$41.1M
$222.5M
两年增速更快
RDDT
近两年复合增速
29.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $725.6M |
| 净利润 | $40.2M | $251.6M |
| 毛利率 | — | 91.9% |
| 营业利润率 | 10.8% | 31.9% |
| 净利率 | 3.4% | 34.7% |
| 营收同比 | 34.0% | 69.7% |
| 净利润同比 | -65.3% | 254.2% |
| 每股收益（稀释后） | — | $1.24 |
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FOURRDDT
| Q4 25 | $1.2B | $725.6M | ||
| Q3 25 | $1.2B | $584.9M | ||
| Q2 25 | $966.2M | $499.6M | ||
| Q1 25 | $848.3M | $392.4M | ||
| Q4 24 | $887.0M | $427.7M | ||
| Q3 24 | $909.2M | $348.4M | ||
| Q2 24 | $827.0M | $281.2M | ||
| Q1 24 | $707.4M | $243.0M |
净利润FOURRDDT
| Q4 25 | $40.2M | $251.6M | ||
| Q3 25 | $28.1M | $162.7M | ||
| Q2 25 | $34.0M | $89.3M | ||
| Q1 25 | $16.7M | $26.2M | ||
| Q4 24 | $116.0M | $71.0M | ||
| Q3 24 | $53.8M | $29.9M | ||
| Q2 24 | $39.2M | $-10.1M | ||
| Q1 24 | $20.6M | $-575.1M |
毛利率FOURRDDT
| Q4 25 | — | 91.9% | ||
| Q3 25 | — | 91.0% | ||
| Q2 25 | — | 90.8% | ||
| Q1 25 | — | 90.5% | ||
| Q4 24 | — | 92.6% | ||
| Q3 24 | — | 90.1% | ||
| Q2 24 | — | 89.5% | ||
| Q1 24 | — | 88.6% |
营业利润率FOURRDDT
| Q4 25 | 10.8% | 31.9% | ||
| Q3 25 | 9.7% | 23.7% | ||
| Q2 25 | 8.6% | 13.6% | ||
| Q1 25 | 3.0% | 1.0% | ||
| Q4 24 | 9.7% | 12.4% | ||
| Q3 24 | 8.8% | 2.0% | ||
| Q2 24 | 7.2% | -11.0% | ||
| Q1 24 | 3.0% | -242.5% |
净利率FOURRDDT
| Q4 25 | 3.4% | 34.7% | ||
| Q3 25 | 2.4% | 27.8% | ||
| Q2 25 | 3.5% | 17.9% | ||
| Q1 25 | 2.0% | 6.7% | ||
| Q4 24 | 13.1% | 16.6% | ||
| Q3 24 | 5.9% | 8.6% | ||
| Q2 24 | 4.7% | -3.6% | ||
| Q1 24 | 2.9% | -236.7% |
每股收益（稀释后）FOURRDDT
| Q4 25 | — | $1.24 | ||
| Q3 25 | — | $0.80 | ||
| Q2 25 | — | $0.45 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $4.76 | ||
| Q3 24 | — | $0.16 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | — | $-8.19 |
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 | $953.6M |
| 总债务越低越好 | $4.5B | — |
| 股东权益账面价值 | $1.4B | $2.9B |
| 总资产 | $8.7B | $3.2B |
| 负债/权益比越低杠杆越低 | 3.15× | — |
8季度趋势，按日历期对齐
现金及短期投资FOURRDDT
| Q4 25 | $964.0M | $953.6M | ||
| Q3 25 | $1.5B | $911.7M | ||
| Q2 25 | $3.0B | $734.1M | ||
| Q1 25 | $1.2B | $635.7M | ||
| Q4 24 | $1.2B | $562.1M | ||
| Q3 24 | $1.4B | $515.9M | ||
| Q2 24 | $205.0M | $468.0M | ||
| Q1 24 | $522.9M | $968.5M |
总债务FOURRDDT
| Q4 25 | $4.5B | — | ||
| Q3 25 | $4.7B | — | ||
| Q2 25 | $3.7B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FOURRDDT
| Q4 25 | $1.4B | $2.9B | ||
| Q3 25 | $1.7B | $2.6B | ||
| Q2 25 | $1.6B | $2.4B | ||
| Q1 25 | $805.2M | $2.2B | ||
| Q4 24 | $806.6M | $2.1B | ||
| Q3 24 | $811.8M | $2.0B | ||
| Q2 24 | $700.8M | $1.9B | ||
| Q1 24 | $674.5M | $1.8B |
总资产FOURRDDT
| Q4 25 | $8.7B | $3.2B | ||
| Q3 25 | $9.0B | $2.9B | ||
| Q2 25 | $7.0B | $2.6B | ||
| Q1 25 | $5.0B | $2.4B | ||
| Q4 24 | $5.0B | $2.3B | ||
| Q3 24 | $5.0B | $2.2B | ||
| Q2 24 | $3.5B | $2.1B | ||
| Q1 24 | $3.4B | $2.0B |
负债/权益比FOURRDDT
| Q4 25 | 3.15× | — | ||
| Q3 25 | 2.83× | — | ||
| Q2 25 | 2.34× | — | ||
| Q1 25 | 3.53× | — | ||
| Q4 24 | 3.52× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $266.8M |
| 自由现金流经营现金流 - 资本支出 | $222.5M | $263.6M |
| 自由现金流率自由现金流/营收 | 18.7% | 36.3% |
| 资本支出强度资本支出/营收 | 0.1% | 0.4% |
| 现金转化率经营现金流/净利润 | 5.56× | 1.06× |
| 过去12个月自由现金流最近4个季度 | $624.0M | $684.2M |
8季度趋势，按日历期对齐
经营现金流FOURRDDT
| Q4 25 | $223.7M | $266.8M | ||
| Q3 25 | $171.8M | $185.2M | ||
| Q2 25 | $141.9M | $111.3M | ||
| Q1 25 | $96.6M | $127.6M | ||
| Q4 24 | $145.4M | $90.0M | ||
| Q3 24 | $182.1M | $71.6M | ||
| Q2 24 | $116.1M | $28.4M | ||
| Q1 24 | $56.7M | $32.1M |
自由现金流FOURRDDT
| Q4 25 | $222.5M | $263.6M | ||
| Q3 25 | $165.4M | $183.1M | ||
| Q2 25 | $141.0M | $110.8M | ||
| Q1 25 | $95.1M | $126.6M | ||
| Q4 24 | $143.8M | $89.2M | ||
| Q3 24 | $180.1M | $70.3M | ||
| Q2 24 | $113.9M | $27.2M | ||
| Q1 24 | $55.4M | $29.2M |
自由现金流率FOURRDDT
| Q4 25 | 18.7% | 36.3% | ||
| Q3 25 | 14.1% | 31.3% | ||
| Q2 25 | 14.6% | 22.2% | ||
| Q1 25 | 11.2% | 32.3% | ||
| Q4 24 | 16.2% | 20.8% | ||
| Q3 24 | 19.8% | 20.2% | ||
| Q2 24 | 13.8% | 9.7% | ||
| Q1 24 | 7.8% | 12.0% |
资本支出强度FOURRDDT
| Q4 25 | 0.1% | 0.4% | ||
| Q3 25 | 0.5% | 0.4% | ||
| Q2 25 | 0.1% | 0.1% | ||
| Q1 25 | 0.2% | 0.2% | ||
| Q4 24 | 0.2% | 0.2% | ||
| Q3 24 | 0.2% | 0.4% | ||
| Q2 24 | 0.3% | 0.4% | ||
| Q1 24 | 0.2% | 1.2% |
现金转化率FOURRDDT
| Q4 25 | 5.56× | 1.06× | ||
| Q3 25 | 6.11× | 1.14× | ||
| Q2 25 | 4.17× | 1.25× | ||
| Q1 25 | 5.78× | 4.88× | ||
| Q4 24 | 1.25× | 1.27× | ||
| Q3 24 | 3.38× | 2.40× | ||
| Q2 24 | 2.96× | — | ||
| 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% |
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
