What is Shift4 Payments's net debt?

Shift4 Payments (FOUR) reported net debt of $4.58B in Q1 2026.

How has Shift4 Payments's net debt changed year-over-year?

Shift4 Payments's net debt increased by 61.8% year-over-year, from $2.83B to $4.58B.

What is the long-term trend for Shift4 Payments's net debt?

Over 5 years (2020 to 2025), Shift4 Payments's net debt has grown at a 69.4% compound annual growth rate (CAGR), from $321.8M to $4.48B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Shift4 Payments FOUR Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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1.1×-0.3×

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UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Carter'sCRI

3.6×+0.8×

HarmonicHLIT

0.1×-2.0×

Other financials

Income statement

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Revenue$1.1B+32.2%

Gross profit$392.0M+52.5%

Operating income$50.0M+100%

Net income$15.0M-11.8%

EPS (diluted)-$0.01-105%

Balance sheet

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Cash & equivalents--100%

Total debt$4.6B+59.0%

Total equity$1.7B+105%

Total assets$8.8B+75.0%

Cash flow

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Operating cash flow$134.0M+39.6%

CapEx$6.0M+500%

Free cash flow$128.0M+34.7%

Valuation

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Market cap$3.07B-36.4%

P/E26.2×+4.9×

P/S0.7×-0.7×

Profitability

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Gross margin35.1%+5.1pp

Operating margin8.4%+1.2pp

Net margin2.6%-3.9pp

FCF margin14.8%+1.1pp

Returns & leverage

See full

Return on equity9.5%-21.1pp

Debt / equity2.8×-0.8×

Current ratio1.2×-0.1×

Where this comes from

Calculated from Shift4 Payments’s reported figures.

$4.6Btotal debt−-cash and equivalents=$4.58B

The official record: Shift4 Payments’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Shift4 Payments's net debt?: Shift4 Payments (FOUR) reported net debt of $4.58B in Q1 2026.
How has Shift4 Payments's net debt changed year-over-year?: Shift4 Payments's net debt increased by 61.8% year-over-year, from $2.83B to $4.58B.
What is the long-term trend for Shift4 Payments's net debt?: Over 5 years (2020 to 2025), Shift4 Payments's net debt has grown at a 69.4% compound annual growth rate (CAGR), from $321.8M to $4.48B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.