Shift4 vs Payoneer Global
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The short version
- Shift4 is the larger business, with $4.2B of revenue in fiscal 2025 against $1.1B for Payoneer Global, about 4.0 times as much.
- Shift4 grew revenue faster (25.5%, against 7.7%).
- Payoneer Global kept more of each dollar of sales as operating profit (11.8% operating margin, against 8.4%).
- Payoneer Global turned more of its sales into free cash flow (19.6% FCF margin, against 14.9%).
| Latest fiscal year | FOUR · FY25 | PAYO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $50.4M | $2.4B |
| Revenue | $4.2B | $1.1B |
| Free cash flow | $624M | $207M |
| Net income | $119M | $73.2M |
| Growth | ||
| Revenue growth | 25.5% | 7.7% |
| 5-year growth | 40.4% | 25.0% |
| Share count change | −20.1% | −2.5% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 8.4% | 11.8% |
| Net margin | 2.9% | 7.0% |
| FCF margin | 14.9% | 19.6% |
| Return on capital | 6.5% | — |
| Return on equity | 10.6% | 10.2% |
| Balance sheet | ||
| Net debt | $3.6B | — |
| Net debt / EBITDA | 4.6x | — |
| Dividends and buybacks | $453M | $174M |
| Valuation & quality | ||
| P/E | — | 51.1x |
| Piotroski F-score | 6 | — |
Revenue
FY18
FOUR $561M
PAYO —
FY19
FOUR $731M
PAYO $318M
FY20
FOUR $767M
PAYO $346M
FY21
FOUR $1.4B
PAYO $473M
FY22
FOUR $2.0B
PAYO $628M
FY23
FOUR $2.6B
PAYO $831M
FY24
FOUR $3.3B
PAYO $978M
FY25
FOUR $4.2B
PAYO $1.1B
FOUR
PAYO
Operating margin
FY18
FOUR −2.3%
PAYO —
FY19
FOUR −0.6%
PAYO 1.2%
FY20
FOUR −7.5%
PAYO −5.0%
FY21
FOUR −3.6%
PAYO −6.4%
FY22
FOUR 4.8%
PAYO −3.5%
FY23
FOUR 4.5%
PAYO 12.5%
FY24
FOUR 7.4%
PAYO 15.2%
FY25
FOUR 8.4%
PAYO 11.8%
FOUR
PAYO
Free cash flow
FY18
FOUR $23.9M
PAYO —
FY19
FOUR −$0.2M
PAYO −$23.5M
FY20
FOUR −$0.8M
PAYO $4.5M
FY21
FOUR −$5.2M
PAYO $13.1M
FY22
FOUR $267M
PAYO $73.5M
FY23
FOUR $332M
PAYO $151M
FY24
FOUR $493M
PAYO $169M
FY25
FOUR $624M
PAYO $207M
FOUR
PAYO
Return on capital
FY18
FOUR —
PAYO —
FY19
FOUR —
PAYO —
FY20
FOUR −6.6%
PAYO —
FY21
FOUR −4.6%
PAYO —
FY22
FOUR 7.7%
PAYO —
FY23
FOUR 6.2%
PAYO —
FY24
FOUR 8.1%
PAYO —
FY25
FOUR 6.5%
PAYO —
FOUR
PAYO
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.