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Shift4 Payments (FOUR) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Shift4 Payments (FOUR) Q3 2026 earnings results →

Q3 2026 Revenue up 12% year over year to $1.3B · 3¢ of every $1 of revenue kept as net profit · operating margin 9.9%

Shift4 Payments made $1.3B in Q3 2026 (+12% Y/Y): Payments-based revenue $1.1B, TFS revenue $139M, Subscription and other revenue $107M. Operating margin 9.9%, net earnings $38.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$1.3B
Year over year+12%
Operating margin9.9%
Net earnings$38.0M
Operating cash flow$221M

Drawing the Sankey…

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Shift4 Payments Q3 2026 revenue breakdown: Sankey diagram of revenue (Payments-based revenue, TFS revenue, Subscription and other revenue), costs, profit and cash flow
Shift4 Payments Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.3B in Q3 2026, up 12% year over year and up 2% from the previous quarter. Payments-based revenue was the largest line at 81% of revenue. Payments-based revenue added $0.14B year over year (up 16%), 102% of the total change. Subscription and other revenue declined 10%.

Operating profit was $0.13B, a 9.9% margin (up 0.1 points year over year). Of the extra revenue versus Q3 2025, 11% reached operating profit, above the 10% margin then. Total costs grew 12% against revenue growth of 12%. The fastest-growing cost line was Sales & marketing (+71%). Net earnings were $0.04B, up 36% year over year. The effective tax rate was 39.4%.

Operating cash flow was $0.22B (up 28% year over year), 552% of net income including minority interests. Non-cash charges added back $0.13B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.03B. Capital expenditures of $0.01B left free cash flow of $0.22B.

Quarterly history

Shift4 Payments revenue by quarterShift4 Payments revenue by quarter$848MQ1 2025$966MQ2 2025$1.2BQ3 2025$1.2BQ4 2025$1.1BQ1 2026$1.3BQ2 2026$1.3BQ3 2026
Shift4 Payments net earnings by quarterShift4 Payments net earnings by quarter$17.0MQ1 2025$34.0MQ2 2025$28.1MQ3 2025$40.2MQ4 2025$12.0MQ1 2026$22.0MQ2 2026$38.0MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$1.3B+12%9.9%$38.0M$221M
Q2 202610-QAug 6, 2026$1.3B+34%7.3%$22.0M$63.0M
Q1 202610-QMay 7, 2026$1.1B+32%4.5%$12.0M$134M
Q4 202510-KFeb 27, 2026$1.2B+34%10.8%$40.2M$224M
Q3 202510-QNov 6, 2025$1.2B+29%9.7%$28.1M$172M
Q2 202510-QAug 5, 2025$966M+17%8.6%$34.0M$142M
Q1 202510-QApr 29, 2025$848M+20%2.9%$17.0M$96.0M

Charts

Shift4 Payments: revenue growth, year over year and quarter over quarterShift4 Payments: revenue growth, year over year and quarter over quarterY/YQ/Q+20%Q1 2025+17%+14%Q2 2025+29%+22%Q3 2025+34%+1%Q4 2025+32%-6%Q1 2026+34%+16%Q2 2026+12%+2%Q3 2026
Latest (Q3 2026): Y/Y +12%, Q/Q +2%.
Shift4 Payments: where the cash came from (+) and went (−), TTM to Q3 2026Shift4 Payments: where the cash came from (+) and went (−), TTM to Q3 2026Net borrowing (+) / repaid (−)$1.5BOther financing−$954MBuybacks−$816MOperating cash flow$642MOther investing−$238MAcquisitions−$135MCash drawn (+) / kept (−)$72.0MPartners−$30.0MTaxes on employees’ shares−$22.0MCapital spending−$18.0MExchange rates−$10.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Shift4 Payments: profit against cash, quarter by quarterShift4 Payments: profit against cash, quarter by quarterNet incomeOperating cash flow$140M$131MQ4 2024$20.0M$96.0MQ1 2025$41.0M$142MQ2 2025$33.0M$172MQ3 2025$53.0M$224MQ4 2025$12.0M$134MQ1 2026$24.0M$63.0MQ2 2026$40.0M$221MQ3 2026
Latest (Q3 2026): Net income $40.0M, Operating cash flow $221M.
Shift4 Payments: diluted shares by fiscal yearShift4 Payments: diluted shares by fiscal year4MFY20222MFY20232MFY20241MFY2025
-65.5% since FY2022: buybacks shrank the count.
Shift4 Payments: long-term debt falling due (FY2025)Shift4 Payments: long-term debt falling due (FY2025)$10.0M2026$643M2027$10.0M2028$10.0M2029$10.0M2030$3.9BLater
Cash $964M, short-term investments —, long-term debt $4.5B at 2025-12-31.
Shift4 Payments in its industry: growth against margin (87 companies, SIC 7389)Shift4 Payments in its industry: growth against margin (87 companies, SIC 7389)revenue growth, year over year →↑ operating marginmedian +8%median 7%ACNUBERVMELIMAPYPLFISVDASHAMTMFISGPNEBAYCNXCLYFTBRCPAYRBAMMSTNETAKAMCARTWUCSGPADVMSCIWEXZGCBZETSYFICOTICEXLSCNDTRELYALITMBGLQNSTMAXPAYHQYPAYOPRTHCTEVXMTRFLYWGETYANDGNUTXACVAXBPSEZLIMXILQDTPHRRMNIRPAYRGPSCORJANLCASSAMWLSGRPDHXBAERPAYSOPRXNOTEHGBLPOWWRSSSDVLTPAYDQMCIINVUTGLASFHCJMBOLBXHLDFTFTDBMMCNFNSRCOGBUXWASTBCRDFOUR (+12%, 10%)
Services-Business Services, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Shift4 Payments

At Shift4, our mission is to boldly redefine commerce by simplifying complex payments ecosystems across the world. We are a leading independent provider of software and payment processing solutions in the U.S. and we are expanding our payment processing solutions to international markets. As a result of the acquisition of Global Blue Group Holding AG (“Global Blue”) in the third quarter of 2025 (“Global Blue Merger”) we are also a leader in tax-free shopping (“TFS”). Global Blue is a leading technology and travel services platform, primarily providing TFS, dynamic currency conversion, and payments solutions to many of the world’s largest retail brands.

In its own words, from its 10-K, filed Feb 27, 2026.

Shift4 Payments against its Services-Business Services, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +12%. Operating margin: 9.9% against the peers' median 9.9%.

CompanyQuarterRevenueY/YOp. margin
FOUR Shift4 PaymentsQ3 2026$1.3B+12%9.9%
ACN AccentureQ4 FY26$18.7B+6%15.3%
UBER Uber TechnologiesQ3 2026$14.8B+10%9.8%
V VisaQ4 FY26$12.1B+13%59.8%
MELI MercadoLibreQ3 2026$10.8B+45%6.3%
MA MastercardQ3 2026$9.8B+14%59.8%
PYPL PayPal HoldingsQ3 2026$8.6B+2%16.3%
FISV FiservQ3 2026$5.2B-1%-105.7%
DASH DoorDashQ3 2026$4.6B+34%9.6%

Source: Shift4 Payments 10-Q on SEC EDGAR · CIK 1794669 · Services-Business Services, NEC

Guidance and outlook

Shift4 Payments: what its forward-looking statements are about (10-Q filed 2026-11-05)Shift4 Payments: what its forward-looking statements are about (10-Q filed 2026-11-05)Other2Buybacks & dividends1Financing1Legal & regulation1
5 statements; tone +0.00 (−1 all cautious, +1 all confident); 0 hedged.

13F: who owns FOUR and who is buying

Largest holders of FOUR (13F)Largest holders of FOUR (13F)Vanguard Group$382MDarlington Partners Capital Manag…$348MBlackRock$272MDurable Capital Partners LP$215MEnsign Peak Advisors$149MNeuberger Berman Group LLC$129MVanguard Capital Management LLC$124MVanguard Portfolio Management LLC$113MMarshall Wace, LLP$98.8MState Street$96.0M
Funds' net buying of FOUR by quarter (13F)Funds' net buying of FOUR by quarter (13F)$313M2024-09$170M2024-12$267M2025-03$743M2025-06−$167M2025-09−$195M2025-12−$392M2026-03−$89.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FOUR

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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