Cash flow Shift4 Payments, Inc.

Equities

FOUR

US82452J1097

Business Support Services

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81b7f0d05db9d9299852da0f6f0.mlR5OeQ--1SEzxCx3AAghLRE4my1Gw2WUnXCS-6bpA8.6ScMTYtJrzPeoyLVk04RxfIXiA7iKDjgJwOHHaGs5zfJOjtBiVbJZ86JVQ

Published financial data: SHIFT4 PAYMENTS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	767M	1.37B	1.99B	2.56B	3.33B
Total Revenues	767M	1.37B	1.99B	2.56B	3.33B
Cost of Goods Sold, Total	589M	1.09B	1.52B	1.88B	2.36B
Gross Profit	178M	278M	470M	688M	973M
Selling General & Admin Expenses, Total	200M	233M	291M	352M	503M
Depreciation & Amortization - (IS)	51.9M	62.2M	96.5M	154M	200M
Other Operating Expenses, Total	252M	295M	388M	506M	702M
Operating Income	-74.5M	-17M	82.6M	182M	271M
Interest Expense, Total	-40.2M	-28M	-32.5M	-32.1M	-61.8M
Interest And Investment Income	-	-	10.8M	31.9M	33.7M
Net Interest Expenses	-40.2M	-28M	-21.7M	-200K	-28.1M
Currency Exchange Gains (Loss)	-	-	-	-4M	1.4M
Other Non Operating Income (Expenses)	600K	300K	-1.2M	-3.3M	-289M
EBT, Excl. Unusual Items	-114M	-44.7M	59.7M	174M	-44.6M
Restructuring Charges	-400K	-200K	-	-	-
Merger & Related Restructuring Charges	-2.9M	-31.8M	-23.7M	-23.2M	-19.7M
Gain (Loss) On Sale Of Investments	-	-	15.1M	12.2M	66.7M
Asset Writedown	-	-	-	-18.6M	-
Other Unusual Items	3.6M	-400K	35.8M	-25M	-4M
EBT, Incl. Unusual Items	-114M	-77.1M	86.9M	120M	-1.6M
Income Tax Expense	-2.4M	-3.1M	200K	-3.4M	-296M
Earnings From Continuing Operations	-111M	-74M	86.7M	123M	294M
Net Income to Company	-111M	-74M	86.7M	123M	294M
Minority Interest	93M	25.8M	-11.6M	-36.7M	-64.9M
Net Income - (IS)	-18.4M	-48.2M	75.1M	86.2M	230M
Preferred Dividend and Other Adjustments	1M	700K	-	-	2.4M
Net Income to Common Incl Extra Items	-19.4M	-48.9M	75.1M	86.2M	227M
Net Income to Common Excl. Extra Items	-19.4M	-48.9M	75.1M	86.2M	227M
Per Share Items
Net EPS - Basic	-0.43	-0.89	1.34	1.44	3.36
Basic EPS - Continuing Operations	-0.43	-0.89	1.34	1.44	3.36
Basic Weighted Average Shares Outstanding	45.03M	54.92M	56.17M	59.68M	67.68M
Net EPS - Diluted	-0.43	-0.89	1.05	1.42	3.03
Diluted EPS - Continuing Operations	-0.43	-0.89	1.05	1.42	3.03
Diluted Weighted Average Shares Outstanding	45.03M	54.92M	82.77M	60.99M	91.52M
Normalized Basic EPS	0.48	-0.04	0.46	1.21	-1.37
Normalized Diluted EPS	0.48	-0.04	0.31	1.18	-1.01
Payout Ratio	-4.89	-	-	-	-
Supplemental Items
EBITDA	-15.8M	65.9M	208M	342M	542M
EBITA	-21M	38.7M	174M	334M	476M
EBIT	-74.5M	-17M	82.6M	182M	271M
EBITDAR	-9.4M	72M	214M	352M	556M
Effective Tax Rate - (Ratio)	2.11	4.02	0.23	-2.85	18.51K
Current Domestic Taxes	-1.2M	-600K	300K	1.1M	14.9M
Current Foreign Taxes	100K	-	2M	4.2M	11M
Total Current Taxes	-1.1M	-600K	2.3M	5.3M	25.9M
Deferred Domestic Taxes	-1.3M	-2.5M	-1.9M	-7.8M	-318M
Deferred Foreign Taxes	-	-	-200K	-900K	-4.1M
Total Deferred Taxes	-1.3M	-2.5M	-2.1M	-8.7M	-322M
Normalized Net Income	21.69M	-2.14M	25.71M	72.11M	-92.78M
Supplemental Operating Expense Items
Advertising Expense	4M	4.4M	14.1M	15.1M	21.7M
Selling and Marketing Expenses	4M	4.4M	14.1M	15.1M	21.7M
General and Administrative Expenses	190M	223M	270M	327M	467M
Research And Development Expense From Footnotes	1.2M	1.8M	500K	1.2M	4.3M
Net Rental Expense, Total	6.4M	6.1M	6.6M	10.1M	14M
Imputed Operating Lease Interest Expense	2.5M	987K	973K	1.46M	2.97M
Imputed Operating Lease Depreciation	3.9M	5.11M	5.63M	8.64M	11.03M
Stock-Based Comp., G&A Exp. (Total)	66.2M	40.8M	49.6M	57.4M	65.5M
Total Stock-Based Compensation	66.2M	40.8M	49.6M	57.4M	65.5M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	928M	1.23B	776M	455M	1.21B
Total Cash And Short Term Investments	928M	1.23B	776M	455M	1.21B
Accounts Receivable, Total	92.7M	153M	195M	257M	349M
Other Receivables	1.2M	1.8M	1.8M	-	-
Notes Receivable	300K	200K	-	-	-
Total Receivables	94.2M	155M	197M	257M	349M
Inventory	1.5M	3.5M	4.8M	3.4M	8.9M
Prepaid Expenses	9M	10.1M	10.5M	29M	37.1M
Restricted Cash	-	-	-	84.4M	-
Other Current Assets, Total	1M	53.6M	3M	325M	304M
Total Current Assets	1.03B	1.45B	992M	1.15B	1.91B
Gross Property Plant And Equipment	83.1M	128M	174M	262M	343M
Accumulated Depreciation	-31.4M	-32.8M	-51M	-87.7M	-114M
Net Property Plant And Equipment	51.7M	95.3M	122M	174M	229M
Long-term Investments	-	30.5M	47.1M	62.2M	2.5M
Goodwill	477M	538M	735M	1.11B	1.46B
Other Intangibles, Total	186M	188M	611M	778M	916M
Accounts Receivable Long-Term	-	-	400K	-	-
Deferred Tax Assets Long-Term	-	-	-	-	397M
Deferred Charges Long-Term	30.2M	35.1M	36.1M	51.7M	65.3M
Other Long-Term Assets, Total	600K	1.9M	10.5M	56.4M	66M
Total Assets	1.78B	2.34B	2.55B	3.39B	5.04B
Liabilities
Accounts Payable, Total	60.6M	121M	167M	205M	248M
Accrued Expenses, Total	7.9M	20.1M	14.9M	46.8M	107M
Current Portion of Long-Term Debt	900K	-	-	-	687M
Current Portion of Leases	-	4.8M	5.3M	7.8M	11M
Current Income Taxes Payable	1.4M	1.6M	4.4M	-	-
Unearned Revenue Current, Total	7.8M	15M	16.3M	20.6M	15.5M
Other Current Liabilities	20.8M	21.2M	60.7M	425M	311M
Total Current Liabilities	99.4M	184M	268M	704M	1.38B
Long-Term Debt	1.01B	1.74B	1.74B	1.75B	2.15B
Long-Term Leases	-	17.9M	18.1M	18.8M	29.3M
Unearned Revenue Non Current	-	-	2.8M	-	-
Deferred Tax Liability Non Current	2.8M	300K	18.6M	28.7M	60.6M
Other Non Current Liabilities	1.7M	2.4M	23.7M	17.3M	400M
Total Liabilities	1.11B	1.94B	2.07B	2.52B	4.02B
Preferred Stock Redeemable	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	-	-	-	-	-
Additional Paid In Capital	738M	619M	703M	986M	1.06B
Retained Earnings	-279M	-325M	-364M	-347M	-228M
Treasury Stock	-	-21.1M	-	-	-
Comprehensive Income and Other	-	-	8.3M	14.1M	-28.2M
Total Common Equity	460M	273M	347M	653M	807M
Minority Interest	210M	127M	133M	215M	211M
Total Equity	670M	400M	481M	868M	1.02B
Total Liabilities And Equity	1.78B	2.34B	2.55B	3.39B	5.04B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	49.93M	57.02M	57.07M	62.36M	69.3M
ECS Total Common Shares Outstanding	49.93M	56.45M	57.04M	62.36M	69.26M
Book Value / Share	9.21	4.83	6.09	10.48	11.65
Tangible Book Value	-204M	-453M	-998M	-1.24B	-1.56B
Tangible Book Value Per Share	-4.08	-8.03	-17.5	-19.83	-22.59
Total Debt	1.01B	1.76B	1.77B	1.78B	2.88B
Net Debt	78.5M	530M	989M	1.32B	1.67B
Debt Equivalent Oper. Leases	51.2M	48.8M	52.8M	80.8M	112M
Minority Interest, Total (Incl. Fin. Div)	210M	127M	133M	215M	211M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	1.5M	3.5M	4.8M	3.4M	8.9M
Machinery, Total	19.3M	12.8M	18.8M	24.5M	23.9M
Full Time Employees	1.3K	1.73K	2.3K	3.03K	4K
Part Time Employees	6	21	-	-	-
Assets on Operating Lease - Gross	43.5M	82.6M	121M	193M	258M
Assets on Operating Lease - Accumulated Depreciation	-6.9M	-24.2M	-40.3M	-69.6M	-93M
Accumulated Allowance for Doubtful Accounts (Supple)	5.7M	8M	18.1M	22.7M	21M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-18.4M	-48.2M	75.1M	86.2M	230M
Depreciation & Amortization - CF	15M	27.2M	33.6M	43.7M	65.6M
Amortization of Goodwill and Intangible Assets - (CF)	53.5M	55.7M	91.3M	152M	206M
Depreciation & Amortization, Total	68.5M	82.9M	125M	196M	271M
Amortization of Deferred Charges, Total - (CF)	21.1M	27.4M	32.3M	26.8M	34.8M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-15.1M	-12.2M	-66.7M
Asset Writedown & Restructuring Costs	400K	-	-	18.6M	-
Stock-Based Compensation (CF)	66.2M	40.8M	49.6M	57.4M	65.5M
Provision and Write-off of Bad Debts	7.7M	11.3M	10M	9.2M	6.5M
Other Operating Activities, Total	-96.1M	-27.2M	-24.5M	59.1M	35.4M
Change In Accounts Receivable	-19.9M	-121M	4.1M	-52.7M	-75M
Change In Inventories	1.2M	1.8M	2.8M	7.2M	8.3M
Change In Accounts Payable	-2M	56.5M	37.3M	14.7M	24.9M
Change in Unearned Revenues	1.2M	700K	-2.2M	-7.5M	-15.1M
Change in Other Net Operating Assets	-6.5M	4.2M	-18.9M	-14.6M	-19M
Cash from Operations	23.4M	29.2M	275M	388M	500M
Capital Expenditure	-19.3M	-54.1M	-61.8M	-91.5M	-108M
Cash Acquisitions	-49.8M	-54.5M	-135M	-170M	-555M
Sale (Purchase) of Intangible assets	-33M	-57.6M	-318M	-55.6M	-81.3M
Investment in Marketable and Equity Securities, Total	-	-30.5M	-1.5M	14.9M	126M
Other Investing Activities, Total	-	-	-	-	-73.2M
Cash from Investing	-102M	-197M	-517M	-302M	-691M
Long-Term Debt Issued, Total	1.21B	632M	-	-	1.17B
Total Debt Issued	1.21B	632M	-	-	1.17B
Long-Term Debt Repaid, Total	-733M	-900K	-	-	-
Total Debt Repaid	-733M	-900K	-	-	-
Issuance of Common Stock	566M	-	-	-	-
Repurchase of Common Stock	-4.4M	-145M	-209M	-133M	-179M
Preferred Dividends Paid	-900K	-	-	-	-
Common & Preferred Stock Dividends Paid	-900K	-	-	-	-
Other Financing Activities, Total	-33.6M	-15.3M	-5.6M	-18.9M	-65.3M
Cash from Financing	1B	471M	-215M	-152M	929M
Foreign Exchange Rate Adjustments	-	-	1M	11.1M	-21.6M
Net Change in Cash	924M	304M	-455M	-54.7M	717M
Supplemental Items
Cash Interest Paid	39.2M	20.9M	24.4M	24M	24M
Cash Income Tax Paid (Refund)	800K	400K	700K	5.3M	14.2M
Levered Free Cash Flow	2.71M	-24.62M	-50.99M	251M	297M
Unlevered Free Cash Flow	22.44M	-13.02M	-38.78M	263M	327M
Change In Net Working Capital	29.1M	35.9M	-90.9M	-24.5M	14.9M
Net Debt Issued / Repaid	475M	632M	-	-	1.17B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-3.63	-0.52	2.11	3.82	4.01
Return on Total Capital	-4	-0.55	2.34	4.64	5.17
Return On Equity %	-32.76	-13.84	19.7	18.22	31.23
Return on Common Equity	-9.09	-13.35	24.22	17.23	31.13
Margin Analysis
Gross Profit Margin %	23.18	20.36	23.59	26.82	29.22
SG&A Margin	26.13	17.05	14.6	13.74	15.1
EBITDA Margin %	-2.06	4.82	10.41	13.35	16.27
EBITA Margin %	-2.74	2.83	8.72	13.02	14.3
EBIT Margin %	-9.71	-1.24	4.14	7.08	8.13
Income From Continuing Operations Margin %	-14.53	-5.41	4.35	4.79	8.84
Net Income Margin %	-2.4	-3.52	3.77	3.36	6.89
Net Avail. For Common Margin %	-2.53	-3.58	3.77	3.36	6.82
Normalized Net Income Margin	2.83	-0.16	1.29	2.81	-2.79
Levered Free Cash Flow Margin	0.35	-1.8	-2.56	9.79	8.93
Unlevered Free Cash Flow Margin	2.93	-0.95	-1.94	10.25	9.81
Asset Turnover
Asset Turnover	0.6	0.66	0.81	0.86	0.79
Fixed Assets Turnover	22.86	18.61	18.31	17.27	16.5
Receivables Turnover (Average Receivables)	8.61	11.89	11.46	11.35	11
Inventory Turnover (Average Inventory)	117.82	435.64	367.08	457.8	383.33
Short Term Liquidity
Current Ratio	10.4	7.91	3.7	1.64	1.38
Quick Ratio	10.28	7.54	3.63	1.01	1.13
Operating Cash Flow to Current Liabilities	0.24	0.16	1.03	0.55	0.36
Days Sales Outstanding (Average Receivables)	42.5	30.71	31.86	32.15	33.27
Days Outstanding Inventory (Average Inventory)	3.11	0.84	0.99	0.8	0.95
Average Days Payable Outstanding	37.32	30.39	34.45	36.13	35.07
Cash Conversion Cycle (Average Days)	8.29	1.15	-1.6	-3.18	-0.85
Long Term Solvency
Total Debt/Equity	150.19	440.63	367.31	204.61	283.12
Total Debt / Total Capital	60.03	81.5	78.6	67.17	73.9
LT Debt/Equity	150.06	439.43	366.21	203.71	214.54
Long-Term Debt / Total Capital	59.98	81.28	78.36	66.88	56
Total Liabilities / Total Assets	62.34	82.94	81.18	74.37	79.81
EBIT / Interest Expense	-1.85	-0.61	2.54	5.66	4.38
EBITDA / Interest Expense	-0.15	2.57	6.59	10.98	8.99
(EBITDA - Capex) / Interest Expense	-0.63	0.64	4.69	8.13	7.24
Total Debt / EBITDA	-167.72	24.46	8.25	5.04	5.18
Net Debt / EBITDA	-13.08	7.36	4.62	3.75	3
Total Debt / (EBITDA - Capex)	-39.77	98.39	11.59	6.81	6.44
Net Debt / (EBITDA - Capex)	-3.1	29.59	6.49	5.06	3.73
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	4.85	78.32	45.78	28.65	29.86
Gross Profit, 1 Yr. Growth %	2.54	56.58	68.89	46.28	41.48
EBITDA, 1 Yr. Growth %	-120.36	-1.2K	215.83	92.04	44.17
EBITA, 1 Yr. Growth %	-128.53	-284.29	351.69	92.95	43.39
EBIT, 1 Yr. Growth %	-398	-77.18	-580.23	122	50.64
Earnings From Cont. Operations, 1 Yr. Growth %	96.82	-33.57	-217.16	41.75	139.63
Net Income, 1 Yr. Growth %	-67.49	161.96	-255.81	14.78	166.36
Normalized Net Income, 1 Yr. Growth %	-236.08	-109.86	-1.24K	186.02	-230.81
Diluted EPS Before Extra, 1 Yr. Growth %	-99.92	106.66	-217.66	36.02	112.8
Accounts Receivable, 1 Yr. Growth %	8.55	98.06	27.6	31.69	35.79
Inventory, 1 Yr. Growth %	-82.35	133.33	37.14	-29.17	161.76
Net Property, Plant and Equip., 1 Yr. Growth %	235.71	84.33	28.54	42.45	31.35
Total Assets, 1 Yr. Growth %	126.95	31.66	9.02	32.65	48.81
Tangible Book Value, 1 Yr. Growth %	-69.29	122.58	120.2	23.84	26.54
Common Equity, 1 Yr. Growth %	-1.5K	-40.64	27.31	88.11	23.47
Cash From Operations, 1 Yr. Growth %	-12.36	24.79	9.08K	40.99	44.6
Capital Expenditures, 1 Yr. Growth %	135.37	180.31	14.23	48.06	18.47
Levered Free Cash Flow, 1 Yr. Growth %	-52.72	-1.01K	-3.62K	-300.13	18.97
Unlevered Free Cash Flow, 1 Yr. Growth %	-33.86	-158.05	-397.13	-332.09	24.83
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	16.96	36.74	61.23	36.95	29.25
Gross Profit, 2 Yr. CAGR %	12.41	26.71	62.62	57.18	43.86
EBITDA, 2 Yr. CAGR %	-50	-5.76	514.23	431.95	72.07
EBITA, 2 Yr. CAGR %	-40.44	-25.75	191.25	606.05	78.53
EBIT, 2 Yr. CAGR %	233.46	-11.28	5.65	92.51	115.85
Earnings From Cont. Operations, 2 Yr. CAGR %	41.8	14.34	-11.78	28.87	84.3
Net Income, 2 Yr. CAGR %	-42.37	-7.72	102.03	33.73	74.85
Normalized Net Income, 2 Yr. CAGR %	-6.51	-65.6	8.11	79.98	198.68
Diluted EPS Before Extra, 2 Yr. CAGR %	-97.21	-96.04	55.93	26.5	70.13
Accounts Receivable, 2 Yr. CAGR %	29.24	33.81	58.97	29.6	33.72
Inventory, 2 Yr. CAGR %	-45.77	-35.83	78.89	-1.44	36.17
Net Property, Plant and Equip., 2 Yr. CAGR %	145.19	148.76	53.93	35.32	36.79
Total Assets, 2 Yr. CAGR %	55.2	72.86	19.81	20.26	40.5
Tangible Book Value, 2 Yr. CAGR %	-40.79	-17.33	121.39	65.13	25.18
Common Equity, 2 Yr. CAGR %	233.19	187.95	-13.07	54.75	52.4
Cash From Operations, 2 Yr. CAGR %	-4.21	4.58	729.76	1.04K	34.78
Capital Expenditures, 2 Yr. CAGR %	247.31	156.86	78.94	30.05	32.44
Levered Free Cash Flow, 2 Yr. CAGR %	-	161.09	50.79	269.19	45.58
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-36	-4.09	520.65	59.7
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	34.61	39.69	49.54	34.54
Gross Profit, 3 Yr. CAGR %	-	25.54	39.45	56.98	51.76
EBITDA, 3 Yr. CAGR %	-	1.4	40.89	296.33	255.1
EBITA, 3 Yr. CAGR %	-	-13.21	35.31	153.51	314.23
EBIT, 3 Yr. CAGR %	-	36.39	56.38	34.88	76.78
Earnings From Cont. Operations, 3 Yr. CAGR %	-	10.13	15.27	3.33	58.47
Net Income, 3 Yr. CAGR %	-	-4.53	9.89	67.33	68.26
Normalized Net Income, 3 Yr. CAGR %	-	-55.84	12.49	48.55	60.92
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-88.29	-87.72	48.99	50.45
Accounts Receivable, 3 Yr. CAGR %	-	40.19	31.7	49.28	31.63
Inventory, 3 Yr. CAGR %	-	-11.79	-17.34	31.36	36.49
Net Property, Plant and Equip., 3 Yr. CAGR %	-	122.95	99.62	50	33.98
Total Assets, 3 Yr. CAGR %	-	46.92	48.24	23.94	29.11
Tangible Book Value, 3 Yr. CAGR %	-	-7.94	14.6	82.41	51.11
Common Equity, 3 Yr. CAGR %	-	87.48	119.37	12.44	43.53
Cash From Operations, 3 Yr. CAGR %	-	4.62	117.68	359.59	450.43
Capital Expenditures, 3 Yr. CAGR %	-	223.36	96.06	67.99	26.07
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	141.67	123.73	152.71
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	6.83	84.08	263.09
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	35.54	35.42
Gross Profit, 5 Yr. CAGR %	-	-	-	37.35	41.2
EBITDA, 5 Yr. CAGR %	-	-	-	40.2	48.83
EBITA, 5 Yr. CAGR %	-	-	-	41.35	46.65
EBIT, 5 Yr. CAGR %	-	-	-	93.47	65.81
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	17.28	39.08
Net Income, 5 Yr. CAGR %	-	-	-	9.24	32.32
Normalized Net Income, 5 Yr. CAGR %	-	-	-	23.78	38.72
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-69.66	-64.86
Accounts Receivable, 5 Yr. CAGR %	-	-	-	35.85	32.49
Inventory, 5 Yr. CAGR %	-	-	-	-7.79	0.92
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	82.58	71.61
Total Assets, 5 Yr. CAGR %	-	-	-	35.61	45.09
Tangible Book Value, 5 Yr. CAGR %	-	-	-	16.3	18.72
Common Equity, 5 Yr. CAGR %	-	-	-	73.63	89.62
Cash From Operations, 5 Yr. CAGR %	-	-	-	72.4	79.7
Capital Expenditures, 5 Yr. CAGR %	-	-	-	124.63	67.59
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	141.6
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	59.35