AFRM · Affirm Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.04B | $1.12B | $933.34M | $866.38M | $783.13M | $698.48M | $591.11M | $576.16M | $496.55M | $399.56M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $145.30M | $141.22M | $144.94M | $139.41M | $134.30M | $138.48M | $132.78M | $128.72M | $140.33M | $158.64M |
| Total Operating Expenses | $950.34M | $1.01B | $869.68M | $870.70M | $791.53M | $831.10M | $763.26M | $736.95M | $705.99M | $759.09M |
| D&A | $74.90M | $75.50M | $65.33M | $54.30M | $59.40M | $46.72M | $36.50M | $43.20M | $40.13M | $6.50M |
| Operating Income | $88.43M | $117.63M | $63.66M | ($4.32M) | ($8.39M) | ($132.62M) | ($172.15M) | ($160.79M) | ($209.45M) | ($359.53M) |
| Interest Expense | $113.76M | $111.72M | $110.03M | $107.76M | $107.63M | $104.14M | $84.62M | $90.45M | $73.93M | $43.75M |
| Income Tax | $4.48M | $3.65M | $2.33M | $2.50M | $2.54M | $1.90M | ($700.0K) | $890.0K | $1.04M | ($1.57M) |
| Net Income | $102.90M | $129.59M | $80.69M | $80.36M | $2.80M | ($100.22M) | ($166.90M) | ($133.94M) | ($171.78M) | ($322.44M) |
| EPS - Basic | $0.31 | $0.39 | $0.24 | $0.25 | $0.01 | ($0.31) | ($0.54) | ($0.43) | ($0.57) | ($1.10) |
| EPS - Diluted | $0.30 | $0.37 | $0.23 | $0.23 | $0.01 | ($0.31) | ($0.54) | ($0.43) | ($0.57) | ($1.10) |
Balance Sheet
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.72B | $1.53B | $1.43B | $1.35B | $1.35B | $1.05B | $1.01B | $1.27B | $1.08B | $892.03M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $13.14B | $12.96B | $11.48B | $11.15B | $10.44B | $10.14B | $9.52B | $9.20B | $8.41B | $8.16B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $8.87B | $9.01B | $7.74B | $7.61B | $7.15B | - | $1.84B | - | - | - |
| Total Liabilities | $9.36B | $9.41B | $8.18B | $8.09B | $7.56B | $7.30B | $6.79B | $6.58B | $5.84B | $5.62B |
| Stockholders' Equity | $3.78B | $3.55B | $3.30B | $3.07B | $2.87B | $2.84B | $2.73B | $2.62B | $2.57B | $2.53B |
| Retained Earnings | ($2.74B) | ($2.85B) | ($2.98B) | ($3.06B) | ($3.13B) | ($3.21B) | ($3.11B) | ($3.06B) | ($2.76B) | ($2.59B) |
Cash Flow
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $374.57M | - | - | $196.87M | - | - | $98.90M | - |
| Investing Cash Flow | - | - | ($139.61M) | - | - | ($575.00M) | - | - | ($15.86M) | - |
| Financing Cash Flow | - | - | $110.09M | - | - | $465.63M | - | - | $148.81M | - |
| CapEx | - | - | $54.37M | - | - | $44.15M | - | - | $35.82M | - |
| Free Cash Flow | - | - | $320.21M | - | - | $152.72M | - | - | $63.09M | - |
Ratios
| Metric | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 8.5% | 10.5% | 6.8% | -0.5% | -1.1% | -19.0% | -29.1% | -27.9% | -42.2% | -90.0% |
| EBITDA margin | 15.7% | 17.2% | 13.8% | 5.8% | 6.5% | -12.3% | -22.9% | -20.4% | -34.1% | -88.4% |
| Net margin | 9.9% | 11.5% | 8.6% | 9.3% | 0.4% | -14.3% | -28.2% | -23.2% | -34.6% | -80.7% |
| Free cash flow margin | - | - | 34.3% | - | - | 21.9% | - | - | 12.7% | - |
| FCF / Net income | - | - | 3.97 | - | - | -1.52 | - | - | -0.37 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 14.0% | 12.6% | 15.5% | 16.1% | 17.1% | 19.8% | 22.5% | 22.3% | 28.3% | 39.7% |
| Effective tax rate | 4.2% | 2.7% | 2.8% | 3.0% | 47.5% | - | - | - | - | - |
| Return on assets | 0.8% | 1.0% | 0.7% | 0.7% | 0.0% | -1.0% | -1.8% | -1.5% | -2.0% | -4.0% |
| Return on equity | 2.7% | 3.7% | 2.4% | 2.6% | 0.1% | -3.5% | -6.1% | -5.1% | -6.7% | -12.7% |
| Return on invested capital | 0.7% | 0.9% | 0.6% | -0.0% | -0.0% | - | -3.0% | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | 2.35 | 2.54 | 2.35 | 2.48 | 2.49 | - | 0.67 | - | - | - |
| Debt / Assets | 0.68 | 0.70 | 0.67 | 0.68 | 0.68 | - | 0.19 | - | - | - |
| Debt / EBITDA | 54.33 | 46.65 | 59.98 | 152.26 | 140.09 | - | - | - | - | - |
| Interest coverage | 0.8x | 1.1x | 0.6x | -0.0x | -0.1x | -1.3x | -2.0x | -1.8x | -2.8x | -8.2x |
| Equity multiplier | 3.47 | 3.65 | 3.48 | 3.63 | 3.63 | 3.58 | 3.48 | 3.51 | 3.28 | 3.22 |
| Liabilities / Assets | 0.71 | 0.73 | 0.71 | 0.72 | 0.72 | 0.72 | 0.71 | 0.71 | 0.69 | 0.69 |
| Efficiency | ||||||||||
| Asset turnover | 0.08 | 0.09 | 0.08 | 0.08 | 0.08 | 0.07 | 0.06 | 0.06 | 0.06 | 0.05 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 152.7x | 201.2x | 317.7x | 300.6x | 4519.0x | - | - | - | - | - |
| P / B | 4.2x | 7.3x | 7.7x | 7.8x | 5.4x | 4.6x | 3.4x | 4.4x | 2.5x | 1.8x |
| P / S | 15.4x | 23.2x | 27.3x | 27.5x | 19.9x | 18.6x | 15.7x | 20.2x | 13.0x | 11.3x |
| EV / EBITDA | 141.4x | 173.4x | 246.2x | 602.7x | 418.6x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 32.6% | 29.6% | 33.6% | 46.6% | 35.9% | 40.7% | 47.9% | 51.2% | 37.3% | 10.7% |
| Revenue CAGR (3y) | 39.7% | 41.1% | 37.2% | 33.9% | 30.2% | 58.9% | 65.7% | 60.9% | - | - |
| Revenue CAGR (5y) | 49.7% | 53.9% | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | - | 97.5% | 94.8% | 36.7% | 52.1% | 48.1% | 27.1% | -83.2% |
| Net income growth (YoY) | 3569.8% | 61.3% | - | - | - | 41.7% | 48.2% | 34.9% | 31.6% | -101.9% |
| EPS growth (YoY) | 2900.0% | 60.9% | - | - | - | 45.6% | 50.9% | 37.7% | 33.7% | -93.0% |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | 109.7% | - | - | 142.1% | - | - | 214.4% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 31.6% | 15.6% | 16.3% | 12.3% | 9.6% | 10.5% | 7.8% | 4.5% | 0.1% | -3.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-06-30.
Product / service
$1.11B totalMerchant Network$882.66M · 79.2%
Virtual Card Network$231.31M · 20.8%
Geographic
$3.22B totalUS$3.11B · 96.3%
CA$119.01M · 3.7%
Other Geographical$282.0K · 0.0%
Peer comparison
Same SIC group: Personal Credit Institutions
Comparing Affirm Holdings against the 5 most active filers in the same SIC group.