Shift4 vs Western Union
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KIRA’s take AI analyst
I put Shift4 and Western Union side by side, using each one’s latest annual report. Here is what stands out:
- Shift4 is the larger business, with $4.2B of revenue in fiscal 2025 against $4.1B for Western Union.
- Shift4 grew revenue faster (25.5%, against −3.8%).
- Western Union kept more of each dollar of sales as operating profit (18.7% operating margin, against 8.4%).
- Shift4 turned more of its sales into free cash flow (14.9% FCF margin, against 12.5%).
- Western Union earned a higher return on the capital invested in it (24.0%, against 6.5%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Shift4
FOUR
4/9
Revenue growth5-year growthFCF marginShare count change
Western Union
WU
5/9
Operating marginNet marginReturn on capitalReturn on equityNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | FOUR FY25 | WU FY25 |
|---|---|---|
| Size | ||
| Market cap | $48.1M | $1.9B |
| Revenue | $4.2B | $4.1B |
| Free cash flow | $624M | $505M |
| Net income | $119M | $500M |
| Growth | ||
| Revenue growth | 25.5% | −3.8% |
| 5-year growth | 40.4% | −3.5% |
| Share count change | −20.1% | −4.0% |
| Profitability | ||
| Gross margin | — | 37.0% |
| Operating margin | 8.4% | 18.7% |
| Net margin | 2.9% | 12.3% |
| FCF margin | 14.9% | 12.5% |
| Return on capital | 6.5% | 24.0% |
| Return on equity | 10.6% | 51.9% |
| Balance sheet | ||
| Net debt | $3.6B | $1.6B |
| Net debt / EBITDA | 4.6x | 1.8x |
| Dividends and buybacks | $453M | $544M |
| Valuation & quality | ||
| P/E | — | 5.1x |
| Piotroski F-score | 6 | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.