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Shift4 Payments, Inc.（FOUR）与Tyler Technologies（TYL）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Tyler Technologies的1.9倍（$1.2B vs $613.5M），Tyler Technologies净利率更高（13.2% vs 3.4%，领先9.9%），Shift4 Payments, Inc.同比增速更快（34.0% vs 8.6%），Shift4 Payments, Inc.自由现金流更多（$222.5M vs $2.0M），过去两年Shift4 Payments, Inc.的营收复合增速更高（29.6% vs 6.5%）
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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
FOUR vs TYL — 直观对比
营收规模更大
FOUR
是对方的1.9倍
$613.5M
营收增速更快
FOUR
高出25.4%
8.6%
净利率更高
TYL
高出9.9%
3.4%
自由现金流更多
FOUR
多$220.5M
$2.0M
两年增速更快
FOUR
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $613.5M |
| 净利润 | $40.2M | $81.2M |
| 毛利率 | — | 48.3% |
| 营业利润率 | 10.8% | 16.3% |
| 净利率 | 3.4% | 13.2% |
| 营收同比 | 34.0% | 8.6% |
| 净利润同比 | -65.3% | — |
| 每股收益（稀释后） | — | $1.88 |
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FOURTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $1.2B | $575.2M | ||
| Q3 25 | $1.2B | $595.9M | ||
| Q2 25 | $966.2M | $596.1M | ||
| Q1 25 | $848.3M | $565.2M | ||
| Q4 24 | $887.0M | $541.1M | ||
| Q3 24 | $909.2M | $543.3M | ||
| Q2 24 | $827.0M | $541.0M |
净利润FOURTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $40.2M | $65.5M | ||
| Q3 25 | $28.1M | $84.4M | ||
| Q2 25 | $34.0M | $84.6M | ||
| Q1 25 | $16.7M | $81.1M | ||
| Q4 24 | $116.0M | $65.2M | ||
| Q3 24 | $53.8M | $75.9M | ||
| Q2 24 | $39.2M | $67.7M |
毛利率FOURTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | — | 45.5% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 45.8% | ||
| Q1 25 | — | 47.3% | ||
| Q4 24 | — | 43.8% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 44.0% |
营业利润率FOURTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | 10.8% | 13.0% | ||
| Q3 25 | 9.7% | 16.4% | ||
| Q2 25 | 8.6% | 16.0% | ||
| Q1 25 | 3.0% | 15.8% | ||
| Q4 24 | 9.7% | 13.2% | ||
| Q3 24 | 8.8% | 15.2% | ||
| Q2 24 | 7.2% | 14.4% |
净利率FOURTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | 3.4% | 11.4% | ||
| Q3 25 | 2.4% | 14.2% | ||
| Q2 25 | 3.5% | 14.2% | ||
| Q1 25 | 2.0% | 14.3% | ||
| Q4 24 | 13.1% | 12.1% | ||
| Q3 24 | 5.9% | 14.0% | ||
| Q2 24 | 4.7% | 12.5% |
每股收益（稀释后）FOURTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | — | $1.50 | ||
| Q3 25 | — | $1.93 | ||
| Q2 25 | — | $1.93 | ||
| Q1 25 | — | $1.84 | ||
| Q4 24 | — | $1.48 | ||
| Q3 24 | — | $1.74 | ||
| Q2 24 | — | $1.57 |
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 | $346.4M |
| 总债务越低越好 | $4.5B | — |
| 股东权益账面价值 | $1.4B | $3.6B |
| 总资产 | $8.7B | $4.8B |
| 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FOURTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $964.0M | $1.1B | ||
| Q3 25 | $1.5B | $950.8M | ||
| Q2 25 | $3.0B | $892.3M | ||
| Q1 25 | $1.2B | $807.4M | ||
| Q4 24 | $1.2B | $768.0M | ||
| Q3 24 | $1.4B | $544.3M | ||
| Q2 24 | $205.0M | $258.0M |
总债务FOURTYL
| Q1 26 | — | — | ||
| Q4 25 | $4.5B | $599.7M | ||
| Q3 25 | $4.7B | $599.2M | ||
| Q2 25 | $3.7B | $598.8M | ||
| Q1 25 | $2.8B | $598.4M | ||
| Q4 24 | $2.8B | $597.9M | ||
| Q3 24 | — | $597.5M | ||
| Q2 24 | — | $597.1M |
股东权益FOURTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $1.4B | $3.7B | ||
| Q3 25 | $1.7B | $3.6B | ||
| Q2 25 | $1.6B | $3.6B | ||
| Q1 25 | $805.2M | $3.5B | ||
| Q4 24 | $806.6M | $3.4B | ||
| Q3 24 | $811.8M | $3.3B | ||
| Q2 24 | $700.8M | $3.1B |
总资产FOURTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $8.7B | $5.6B | ||
| Q3 25 | $9.0B | $5.5B | ||
| Q2 25 | $7.0B | $5.4B | ||
| Q1 25 | $5.0B | $5.2B | ||
| Q4 24 | $5.0B | $5.2B | ||
| Q3 24 | $5.0B | $5.0B | ||
| Q2 24 | $3.5B | $4.8B |
负债/权益比FOURTYL
| Q1 26 | — | — | ||
| Q4 25 | 3.15× | 0.16× | ||
| Q3 25 | 2.83× | 0.17× | ||
| Q2 25 | 2.34× | 0.16× | ||
| Q1 25 | 3.53× | 0.17× | ||
| Q4 24 | 3.52× | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.19× |
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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $222.5M | $2.0M |
| 自由现金流率自由现金流/营收 | 18.7% | 0.3% |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | 5.56× | 1.32× |
| 过去12个月自由现金流最近4个季度 | $624.0M | $585.7M |
8季度趋势，按日历期对齐
经营现金流FOURTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $223.7M | $243.9M | ||
| Q3 25 | $171.8M | $255.2M | ||
| Q2 25 | $141.9M | $98.3M | ||
| Q1 25 | $96.6M | $56.2M | ||
| Q4 24 | $145.4M | $224.8M | ||
| Q3 24 | $182.1M | $263.7M | ||
| Q2 24 | $116.1M | $64.3M |
自由现金流FOURTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $222.5M | $239.6M | ||
| Q3 25 | $165.4M | $251.3M | ||
| Q2 25 | $141.0M | $92.8M | ||
| Q1 25 | $95.1M | $53.8M | ||
| Q4 24 | $143.8M | $221.0M | ||
| Q3 24 | $180.1M | $260.8M | ||
| Q2 24 | $113.9M | $57.7M |
自由现金流率FOURTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 18.7% | 41.7% | ||
| Q3 25 | 14.1% | 42.2% | ||
| Q2 25 | 14.6% | 15.6% | ||
| Q1 25 | 11.2% | 9.5% | ||
| Q4 24 | 16.2% | 40.8% | ||
| Q3 24 | 19.8% | 48.0% | ||
| Q2 24 | 13.8% | 10.7% |
资本支出强度FOURTYL
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 0.8% | ||
| Q3 25 | 0.5% | 0.7% | ||
| Q2 25 | 0.1% | 0.9% | ||
| Q1 25 | 0.2% | 0.4% | ||
| Q4 24 | 0.2% | 0.7% | ||
| Q3 24 | 0.2% | 0.5% | ||
| Q2 24 | 0.3% | 1.2% |
现金转化率FOURTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 5.56× | 3.72× | ||
| Q3 25 | 6.11× | 3.02× | ||
| Q2 25 | 4.17× | 1.16× | ||
| Q1 25 | 5.78× | 0.69× | ||
| Q4 24 | 1.25× | 3.45× | ||
| Q3 24 | 3.38× | 3.47× | ||
| Q2 24 | 2.96× | 0.95× |
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% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
