Positive context积极背景
Stocks股票 / Financials / FOUR
Shift4 · Financials
FOUR US listed · USD美股 · 美元
Shift4 Payments, Inc. is an American payment processing company based in Allentown, Pennsylvania.Shift4 Payments, Inc.是一家美国支付处理公司，总部位于宾夕法尼亚州阿伦敦。
Financials
S&P 400标普400中盘
Financial金融股
$38.45
+$0.29 · +0.76%
52w low52周低 $34.39high高 $81.00
Avoid — downtrend回避 — 下行趋势
Downtrend — stand aside until a new cycle low forms and confirms.下跌趋势——观望，直至新的周期低点形成并确认。
As of 2026-09-28截至 2026-09-28
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
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Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-09-28
Momentum (RSI 14)动量（RSI 14）
37
Depressed偏低
vs 50-day average相对50日均线
-15.9% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
-22.6% below下方
Long trend down长期向下
Volatility波动率
52th percentile第52百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
next report下次财报 2026-11-0538
Estimates being cut预期下调
Beat in 3 of last 4 quarters近 4 季中 3 季超预期
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 0.9%
Financials财务数据
fiscal years财年Revenue营业收入
$4.2B2025
20202025
5-yr growth5年复合增速 40.4%
Free cash flow自由现金流
$624.0M2025
20202025
Operating margin营业利润率
8.4%
Net margin净利率
3.5%
FCF margin自由现金流利润率
15.2%
Balance-sheet quality财务体质 4/7
Return on equity股本回报率 10%
Watch关注
Leverage杠杆
Net debt / EBITDA净债务/EBITDA4.57
Capital allocation资本配置
Buybacks (TTM)回购（TTM）$453.0M
Stock-based comp股权薪酬$82.0M
Debt coming due到期债务
FY2025 10-KIn the 12-month bucket following fiscal period end 2025-12-31, it reported $10.0M due — about 1% of its disclosed principal.在财年期末 2025-12-31 之后12个月的区间内，已披露到期本金为 $10.0M，约占其披露本金的 1%。
All maturity buckets are measured from fiscal period end 2025-12-31, not from today.所有到期区间均从财年期末 2025-12-31 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
$10.0M
Year 2第2年
$643.0M
Year 3第3年
$10.0M
Year 4第4年
$10.0M
Year 5第5年
$10.0M
After year 55年以后
$3.9B
Cash reported at 2025-12-31: $964000000.截至 2025-12-31 披露的现金：$964000000。 Operating cash flow exceeded or equaled equipment spending over 2025-01-01 to 2025-12-31; no cash burn to measure.在 2025-01-01 至 2025-12-31 期间，经营现金流不低于设备支出，无可衡量的现金消耗。
Cash reported at 2025-12-31 covers 9640% of issuer-reported principal in the 12-month bucket following that fiscal period end.截至 2025-12-31 披露的现金可覆盖该财年期末之后12个月区间内发行人已披露到期本金的 9640%。
Cash shortfall against that reported principal: $0相对该已披露本金的现金缺口：$0。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001794669-26-000010, period ending报告期截至 2025-12-31, unit单位 USD.
Cache acquired缓存获取时间: 2026-09-25T08:19:37.929816+00:00.
6/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwoLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThreeLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFourLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
Annual period年度区间 2025-01-01 — 2025-12-31 · USD · 10-K · 0001794669-26-000010 · Filed提交日期 2026-02-27.
Cache acquired缓存获取时间: 2026-09-25T08:19:37.929816+00:00 · Evaluated as of评估截至 2026-09-29.
- Reported operating cash flow已披露经营活动现金流: $634000000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $10000000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $624000000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Sector / Theme行业/主题
Payments & Fintech theme — #31 of 49 themes「支付与金融科技」主题 — 49 个主题中第 31 位
Macro宏观
Short-duration name into a restrictive, rising-real-rate regime → rate tailwind.短久期标的进入偏紧、实际利率上行的环境→利率顺风。
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
FOUR weekly MACD crossed downFOUR 周线MACD下穿
Options positioning期权持仓
as of last close截至上一收盘Market makers are net short gamma — price moves may amplify做市商净持有负伽玛，价格波动可能被放大
Expected daily move预期日波动
±4.06%
Expected weekly move预期周波动
±9.09%
25d risk reversal25d风险逆转
-0.2%
Flow:资金流向： $1M premium traded; 0% 0DTE; P/C 0.47; ~leans bullish (direction approx)成交权利金 $1M；0DTE占0%；看跌看涨比 0.47；≈偏看涨（方向近似）
Skew: balanced偏斜：balanced
Call and put walls are plotted on the Trade levels ladder →看涨/看跌期权墙已标注在「交易点位」阶梯上 →
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： +$33.6M net (1 buyers, 0 sellers)+$33.6M 净值（1 买家，0 卖家）
Concentrated ownership集中持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | As of截至 |
|---|---|---|---|---|
| Durable Capital Partners | B | trimtrim | 2.1% | 2026-06-30 |
Signal history信号历史
engine events引擎事件
BOTTOMING → DOWNTREND筑底中 → 下跌趋势
AVOID. Failed cycle — price broke below the low that started this cycle, which historically means the larger trend is rolling over (~80% of cases)回避。失败周期——价格跌破了启动本周期的低点，历史上这通常意味着更大的趋势正在掉头向下（约 80% 的情形）
Sep 25, 2026
FOUR weekly MACD crossed downFOUR 周线MACD下穿
The weekly MACD histogram turned negative — the slower, less-whippy momentum read.周线MACD柱状图转负 — 更慢、更少来回的动量信号。
Sep 18, 2026
FOUR broke down vs the marketFOUR 相对市场走弱
Relative strength vs SPY crossed below the 10th percentile of the last 90 days — weakness often leads price. $38.98.相对标普500的强弱下穿近90日的第10百分位 — 走弱常先于价格。$38.98。
Sep 16, 2026
FOUR daily MACD crossed downFOUR 日线MACD下穿
The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $42.09.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$42.09。
Sep 15, 2026
BUY ZONE → BOTTOMING买入区 → 筑底中
BUY SETUP买入预备
Sep 14, 2026
BOTTOMING → BUY ZONE筑底中 → 买入区
BUY买入
Sep 14, 2026
FOUR daily MACD crossed upFOUR 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $45.32.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$45.32。
Sep 8, 2026
NEARING A HIGH → BOTTOMING接近高点 → 筑底中
BUY SETUP买入预备
Sep 4, 2026
BOTTOMING → NEARING A HIGH筑底中 → 接近高点
TAKE PROFITS止盈
Showing the last 15 of显示最近15条，共 288 signals条信号
Company profile公司档案
Shift4 Payments, Inc. is an American payment processing company based in Allentown, Pennsylvania.Shift4 Payments, Inc.是一家美国支付处理公司，总部位于宾夕法尼亚州阿伦敦。
Style DNA — how it trades vs the market风格基因 — 相对市场的交易特征
Quality质量
Below market低于市场
Investment资本投入
Below market低于市场
Low volatility低波动
Below market低于市场
Low market beta低市场敏感度
Below market低于市场
Earnings quality盈利质量
Below market低于市场
Short interest空头兴趣
Above market高于市场
Watch items — what could change the story关注项 — 可能改变故事的因素
- Margin compression despite revenue growth
- Receivables stretch
- Inventory build
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Relative strength相对强度
vs market, 1 month相对大盘（1个月）
4/100 — weaker than most弱于多数
vs market, 3 months相对大盘（3个月）
22/100 — weaker than most弱于多数
vs market, 6 months相对大盘（6个月）
18/100 — weaker than most弱于多数
vs market, 12 months相对大盘（12个月）
5/100 — weaker than most弱于多数
Rank in sector行业内排名
#240 / 261
0–100 percentile of total return vs all covered stocks.总回报在全部覆盖股票中的百分位（0–100）。
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -1.4% | +1.3% |
| 1 Month近1月 | -16.9% | +0.9% |
| 3 Months近3月 | -19.3% | +6.1% |
| 6 Months近6月 | -13.6% | +22.3% |
| Year to date年初至今 | -38.7% | +13.8% |
| 1 Year近1年 | -51.8% | +18.5% |
| 3 Years近3年 | -29.6% | +87.8% |
Trading information交易信息
Beta vs market贝塔
1.38
Volatility rank波动率分位
52th pctile
Off 52-week high距52周高点
-51.8%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $767M | $1.4B | $2.0B | $2.6B | $3.3B | $4.2B |
| EPS每股收益 | — | — | — | — | — | — |
| Free cash flow自由现金流 | $19M | $-5M | $267M | $375M | $493M | $624M |
| Gross margin毛利率 | 23.2% | 20.4% | — | — | — | — |
| Net margin净利率 | -2.4% | -3.5% | 3.8% | 3.4% | 6.9% | 2.8% |
| FCF margin自由现金流利润率 | 2.4% | -0.4% | 13.4% | 14.6% | 14.8% | 14.9% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$4.2B
Net income净利润
$147M
Operating cash flow经营现金流
$634M
Total assets总资产
$8.7B
Shareholder equity股东权益
$1.4B
Long-term debt长期负债
$4.5B
Buybacks股票回购
$453M
Returns & growth回报与增长
Return on equity股本回报率
10.2%
Return on assets资产回报率
1.7%
Debt / assets负债/资产
52.1%
Profit growth利润增速
-50.1%
Asset growth资产增速
+72.8%
Accounting quality checks会计质量检查
- Earnings quality: earnings cash-backed盈利质量：盈利有现金支撑
- Working capital: inventory +493% vs sales +334%; receivables +700% vs sales +445% — demand & revenue-quality risk营运资本：存货 +493% 对销售 +334%；应收 +700% 对销售 +445%——需求与营收质量风险
- Capital discipline: assets +72.8% (aggressive expansion)资本纪律：资产 +72.8%（扩张激进）
- Balance sheet: leverage unremarkable资产负债表：杠杆水平一般
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
37
RSI (2-day)RSI（2日）
42
vs 20-day average相对20日均线
-8.1%
vs 50-day average相对50日均线
-15.9%
vs 200-day average相对200日均线
-22.6%
Golden cross (50>200)金叉（50>200）
not in effect未生效
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down动能向下
3-day3日线
momentum down动能向下
Weekly周线
momentum down — fresh downturn动能向下——刚刚转弱
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range width percentile波幅宽度分位
59/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Jun 2026 | $1.01 | $0.97 | +4.1% |
| Mar 2026 | $0.80 | $0.76 | +5.3% |
| Dec 2025 | $1.22 | $1.39 | -12.2% |
| Sep 2025 | $1.33 | $1.25 | +6.4% |
Estimate revisions预期修正
Analysts covering覆盖分析师
23
Estimate direction预期调整方向
mostly cutting多数下调
Estimate change, 90 days预期变化（90天）
-7.3%
Net upgrades, 30 days净上调（30天）
-19
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Options — full detail期权持仓 — 完整明细
Dealer positioning map做市商持仓地图
Put wall看跌期权墙
$35
Upside magnet上方磁吸位
$40
Downside magnet下方磁吸位
$35
Net dealer gamma做市商净伽玛
+$0.0B
Walls and magnets are strikes with heavy open interest — price often slows or gravitates there.期权墙与磁吸位是未平仓集中的行权价 — 价格常在附近减速或被吸引。
Volatility pricing波动率定价
Implied volatility (30d)隐含波动率（30天）
1%
25-delta risk reversal25-delta风险逆转
-0.2%
Call-put IV spread看涨-看跌IV价差
+0.0pp
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Tracked funds holding it跟踪基金持仓
| Fund基金 | Grade评级 | Latest move最新动作 | % of book组合占比 | Position市值 |
|---|---|---|---|---|
| Durable Capital Partners | B | Trimming减持 | 2.1% | $215M |
Fund positioning基金持仓概览
Tracked funds in the name持有该股的跟踪基金
1
Buying vs selling买入vs卖出
0 : 1
Quarterly trend季度趋势
{'direction': 'distributing', 'n_quarters': 12, 'holders_first': 2, 'holders_last': 1, 'holders_delta': -1, 'value_change_pct': -14.9, 'from_period': '2023-09-30', 'to_period': '2026-06-30', 'available_on': '2026-08-15', 'available_on_first': '2023-11-15', 'holders_series': [2, 2, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1]}{'direction': 'distributing', 'n_quarters': 12, 'holders_first': 2, 'holders_last': 1, 'holders_delta': -1, 'value_change_pct': -14.9, 'from_period': '2023-09-30', 'to_period': '2026-06-30', 'available_on': '2026-08-15', 'available_on_first': '2023-11-15', 'holders_series': [2, 2, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1]}
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
+$33.6M
Insider buyers vs sellers内部人买家vs卖家
1 : 0
Days to cover回补天数
7.0
Short interest change空头变化
+8.4%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Seasonality — full detail季节性 — 完整明细
Strongest month最强月份
May · 100%
Weakest month最弱月份
Sep · 25%
Month by month逐月统计
| Month月份 | Closed higher收涨占比 | Median move中位涨跌 | Years年数 |
|---|---|---|---|
| Jan1月 | 33% | -3.0% | 3 |
| Feb2月 | 33% | -17.2% | 3 |
| Mar3月 | 33% | -18.2% | 3 |
| Apr4月 | 67% | +2.5% | 3 |
| May5月 | 100% | +15.2% | 3 |
| Jun6月 | 100% | +9.0% | 3 |
| Jul7月 | 67% | +4.1% | 3 |
| Aug8月 | 50% | +3.5% | 4 |
| Sep9月 | 25% | -1.7% | 4 |
| Oct10月 | 33% | -10.5% | 3 |
| Nov11月 | 100% | +24.3% | 3 |
| Dec12月 | 33% | -8.2% | 3 |
History is a tendency, not a promise — small samples wobble.历史规律只是倾向而非保证 — 样本少时波动大。
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。