Shift4 Payments 2026 EV to FCF valuation

As of 2026-06-15

USD

Updated Jun 20, 2026

as of 2026-06-15

Fair value / share

$50.85

Upside / downside

23.5%

Implied enterprise value ($M)

$8,809

FY2026 unlevered FCF ($M)

$678

Current EV / unlevered FCF

11.7

Cash at 3/31/2026 ($M)

473

Debt at 3/31/2026 ($M)

4,522

Diluted shares from market cap / price (M)

91.1

Noncontrolling interests and other claims ($M)

127

FY2026 adjusted FCF guidance midpoint ($M)

500

FY2026 net interest expense used for unlevering ($M)

240

Effective tax rate

26.0%

Current share price

$41.18

EV / unlevered FCF multiple

13.0

	FY2026E
FY2026 adjusted FCF	500
+ After-tax net interest add-back	178
= Unlevered FCF	678
x EV / unlevered FCF multiple	13.0
= Implied enterprise value	8,809
- Net debt	4,049
- Noncontrolling interests and other claims	127
= Common equity value	4,633
Diluted shares	91.1
= Fair value / share	$50.85

FY2026 company guidance: adjusted FCF $490M-$510M, adjusted EBITDA $1.165B-$1.215B, unchanged as of Q1 2026 materials. — modeledge.ai
Q1 2026 balance sheet shows cash $473M, current debt $10M, long-term debt $4.512B, redeemable NCI $10M, and non-redeemable NCI $117M. — modeledge.ai
Modeledge-2 market data showed FOUR price $41.18 and market cap $3.75B; diluted share count is inferred as market cap divided by price. — modeledge.ai
EV-to-FCF method uses management adjusted FCF, adds back after-tax net interest at a 26% tax rate to approximate unlevered FCF, then applies an 11x/13x/15x bear/base/bull EV multiple. — modeledge.ai
Met coal reference checked per request: coking coal benchmark was about $244/t on June 12, 2026, but it is not used as a value driver because the bound FOUR Hawk is Shift4 Payments, not a metallurgical coal producer. — tradingeconomics.com

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