Shift4 vs Jack Henry & Associates
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The short version
- Shift4 is the larger business, with $4.2B of revenue in fiscal 2025 against $2.5B for Jack Henry & Associates, about 1.6 times as much.
- Shift4 grew revenue faster (25.5%, against 7.1%).
- Jack Henry & Associates kept more of each dollar of sales as operating profit (25.0% operating margin, against 8.4%).
- Jack Henry & Associates turned more of its sales into free cash flow (27.3% FCF margin, against 14.9%).
- Jack Henry & Associates earned a higher return on the capital invested in it (23.8%, against 6.5%).
| Latest fiscal year | FOUR · FY25 | JKHY · FY26 |
|---|---|---|
| Size | ||
| Market cap | $50.4M | $11.7B |
| Revenue | $4.2B | $2.5B |
| Free cash flow | $624M | $695M |
| Net income | $119M | $503M |
| Growth | ||
| Revenue growth | 25.5% | 7.1% |
| 5-year growth | 40.4% | 7.7% |
| Share count change | −20.1% | −1.4% |
| Profitability | ||
| Gross margin | — | 43.7% |
| Operating margin | 8.4% | 25.0% |
| Net margin | 2.9% | 19.8% |
| FCF margin | 14.9% | 27.3% |
| Return on capital | 6.5% | 23.8% |
| Return on equity | 10.6% | 24.0% |
| Balance sheet | ||
| Net debt | $3.6B | $27.9M |
| Net debt / EBITDA | 4.6x | 0.0x |
| Dividends and buybacks | $453M | $619M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 6 | 7 |
Revenue
FY17
FOUR —
JKHY $1.4B
FY18
FOUR $561M
JKHY $1.5B
FY19
FOUR $731M
JKHY $1.6B
FY20
FOUR $767M
JKHY $1.7B
FY21
FOUR $1.4B
JKHY $1.8B
FY22
FOUR $2.0B
JKHY $1.9B
FY23
FOUR $2.6B
JKHY $2.1B
FY24
FOUR $3.3B
JKHY $2.2B
FY25
FOUR $4.2B
JKHY $2.4B
FY26
FOUR —
JKHY $2.5B
FOUR
JKHY
Operating margin
FY17
FOUR —
JKHY 23.9%
FY18
FOUR −2.3%
JKHY 23.3%
FY19
FOUR −0.6%
JKHY 22.4%
FY20
FOUR −7.5%
JKHY 22.4%
FY21
FOUR −3.6%
JKHY 22.7%
FY22
FOUR 4.8%
JKHY 24.4%
FY23
FOUR 4.5%
JKHY 23.1%
FY24
FOUR 7.4%
JKHY 22.1%
FY25
FOUR 8.4%
JKHY 23.9%
FY26
FOUR —
JKHY 25.0%
FOUR
JKHY
Free cash flow
FY17
FOUR —
JKHY $315M
FY18
FOUR $23.9M
JKHY $372M
FY19
FOUR −$0.2M
JKHY $378M
FY20
FOUR −$0.8M
JKHY $457M
FY21
FOUR −$5.2M
JKHY $439M
FY22
FOUR $267M
JKHY $470M
FY23
FOUR $332M
JKHY $342M
FY24
FOUR $493M
JKHY $510M
FY25
FOUR $624M
JKHY $588M
FY26
FOUR —
JKHY $695M
FOUR
JKHY
Return on capital
FY17
FOUR —
JKHY 23.5%
FY18
FOUR —
JKHY 30.7%
FY19
FOUR —
JKHY 20.7%
FY20
FOUR −6.6%
JKHY 22.2%
FY21
FOUR −4.6%
JKHY 23.1%
FY22
FOUR 7.7%
JKHY 25.9%
FY23
FOUR 6.2%
JKHY 22.4%
FY24
FOUR 8.1%
JKHY 20.1%
FY25
FOUR 6.5%
JKHY 22.7%
FY26
FOUR —
JKHY 23.8%
FOUR
JKHY
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.