Aug. 6 at 3:34 PM
$FOUR Started new 1% position
$FOUR is growing EBITDA around 20% and then they just bought Global Blue which gets them into 300,000 merchants around the world that they can now upsell into their own hardware, software, payment stack.
$FOUR would have done approx
$1.1B in EBITDA next year by themselves and global blue should add another
$300M so they might be looking at
$1.4B.
Diluted share count is 87M plus
$2.8B net debt so EV is around
$10.1B so FOUR is potentially trading at 7.2x 2026 EV/EBITDA
