FOUR
Shift4 Payments, Inc.
FOUR has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over FOUR overall, supported by stronger fundamentals and stronger modeled upside.
FOUR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Weak |
FOUR's revenue, profitability and cash flow are currently healthy, but its balance sheet is weak.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
FOUR PE Valuation
FOUR has no meaningful PE right now: it lost money over the past year.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK's PE is 7.5x, but its earnings don't support one, so it isn't a reliable read right now.
FOUR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Stable | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for FOUR, with profitability holding steady. However, they disagree widely on these estimates.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK has the edge over FOUR on the outlook, with more favorable profitability expectations.
FOUR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.29 | +331% |
| Q3 2024 | $1.69 | +5% |
| Q2 2024 | $1.64 | +3.1% |
| Q1 2024 | $1.48 | +14% |
| Q4 2023 | $1.36 | +37% |
| Q3 2023 | $1.61 | +360% |
| Q2 2023 | $1.59 | +$1.94 |
| Q1 2023 | $1.30 | +$1.73 |
| Q4 2022 | $0.99 | +$1.91 |
FOUR's earnings per share have climbed steadily: $1.69 over the past year, up 5% from the year before, and higher year over year every quarter since early 2022.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over FOUR in the latest year-over-year earnings comparison.
FOUR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +12% |
| Q2 2026 | $1.3B | +34% |
| Q1 2026 | $1.1B | +32% |
| Q4 2025 | $1.2B | +34% |
| Q3 2025 | $1.2B | +29% |
| Q2 2025 | $966.2M | +17% |
| Q1 2025 | $848.3M | +20% |
| Q4 2024 | $887M | +26% |
FOUR's revenue has grown year over year every quarter since early 2021: $1.3B last quarter, up 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.9% | +0.1 points |
| Q2 2026 | 7.3% | -1.3 points |
| Q1 2026 | 4.5% | +1.5 points |
| Q4 2025 | 11% | +1.1 points |
| Q3 2025 | 9.7% | +0.9 points |
| Q2 2025 | 8.6% | +1.4 points |
| Q1 2025 | 3% | 0 points |
| Q4 2024 | 9.7% | +5.8 points |
FOUR's operating margin was 9.9% last quarter, about level with the same quarter a year ago, near the top of its range since 2019.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over FOUR on profitability, with a higher operating margin.
FOUR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $216M | -21% |
| Q2 2026 | $57M | -39% |
| Q1 2026 | $128M | +186% |
| Q4 2025 | $222.5M | +55% |
| Q3 2025 | $272.5M | +3.4% |
| Q2 2025 | $93M | +24% |
| Q1 2025 | $44.8M | -50% |
| Q4 2024 | $143.8M | +97% |
FOUR generated $624M in free cash flow over the past year, up 13% from the year before.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK has the edge over FOUR on cash flow, with more consistent year-over-year improvement.
FOUR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -5.1% | -4M shares |
| 1 year | -16% | -14.3M shares |
| 3 years | -11% | -9.5M shares |
| 5 years | -7.4% | -6M shares |
FOUR has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $190M |
| Q2 2026 | $26M |
| Q1 2026 | $295M |
| Q4 2025 | $304.8M |
| Q3 2025 | — |
| Q2 2025 | $85.3M |
| Q1 2025 | $62.9M |
| Q4 2024 | $110M |
FOUR spent $816M buying back its own shares over the past year, about three times what it spent the year before.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
FOUR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.5x | High |
| Q2 2026 | 4.6x | High |
| Q1 2026 | 4.7x | High |
| Q4 2025 | 4.5x | High |
| Q3 2025 | 4.6x | High |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 5.6x | High |
FOUR's net debt is about 4.5 years of its operating earnings (EBITDA), about the same as a year ago.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has the edge over FOUR on leverage, with a lower net debt burden relative to earnings.
FOUR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.1 | Neutral |
| Stochastic | 33.7 | Neutral |
FOUR's weekly RSI is 46 (neutral) and its Stochastic is 34 (neutral).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
FOUR PE vs Technology Sector
| Metric | FOUR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
FOUR has no meaningful PE right now: it lost money over the past year.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK is trading at 7.5x earnings, a 73% discount to the Technology sector's median of 28x, though its earnings don't support one.
FOUR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.8 | 4.3% above |
| 20 week MA | $44.0 | 5.7% below |
| 50 week MA | $48.5 | 14% below |
| 100 week MA | $69.7 | 40% below |
| 200 week MA | $70.3 | 41% below |
FOUR has stronger trend alignment. FOUR is above 1 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
FOUR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.5 | $71.8 | +114% |
| 2021 | $71.8 | $59.2 | -18% |
| 2022 | $59.2 | $54.1 | -8.6% |
| 2023 | $54.1 | $74.3 | +38% |
| 2024 | $74.3 | $104.7 | +41% |
| 2025 | $104.7 | $65.2 | -38% |
| 2026 YTD | $65.2 | $41.5 | -36% |
FOUR has finished lower in three of the last six years. It's down 36% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over FOUR on returns for 2026, with the stronger performance.