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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue | $3.22B | $2.32B | $1.59B | $1.35B | $509.53M |
| Cost of Revenue | - | - | - | - | - |
| Gross Profit | - | - | - | - | - |
| R&D | - | - | - | - | - |
| SG&A | $545.05M | $525.29M | $586.40M | $577.49M | $121.23M |
| Total Operating Expenses | $3.31B | $2.94B | $2.79B | $2.22B | $617.32M |
| D&A | $225.08M | $169.04M | $134.63M | $52.72M | $9.44M |
| Operating Income | ($87.27M) | ($615.85M) | ($1.20B) | ($866.05M) | ($107.79M) |
| Interest Expense | $425.45M | $344.25M | $183.01M | $69.69M | $32.32M |
| Income Tax | $9.28M | $2.23M | ($3.90M) | ($17.41M) | $376.0K |
| Net Income | $52.19M | ($517.76M) | ($985.35M) | ($707.42M) | ($112.60M) |
| EPS - Basic | $0.16 | ($1.67) | ($3.34) | ($2.51) | ($2.63) |
| EPS - Diluted | $0.15 | ($1.67) | ($3.34) | ($2.51) | ($2.63) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1.35B | $1.01B | $892.03M | $1.26B | $1.47B |
| Accounts Receivable | - | - | - | - | - |
| Inventory | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - |
| Current Assets | - | - | - | - | - |
| Total Assets | $11.15B | $9.52B | $8.16B | $6.97B | $4.87B |
| Current Liabilities | - | - | - | - | - |
| Long-term Debt | $7.61B | $1.84B | - | - | - |
| Total Liabilities | $8.09B | $6.79B | $5.62B | $4.36B | $2.29B |
| Stockholders' Equity | $3.07B | $2.73B | $2.53B | $2.62B | $2.58B |
| Retained Earnings | ($3.06B) | ($3.11B) | ($2.59B) | ($1.61B) | ($888.38M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | $793.91M | $450.14M | $12.18M | ($162.19M) | ($71.30M) |
| Investing Cash Flow | ($1.08B) | ($1.33B) | ($1.65B) | ($2.01B) | ($253.07M) |
| Financing Cash Flow | $751.42M | $913.15M | $1.35B | $2.04B | $294.73M |
| CapEx | $192.19M | $159.30M | $120.78M | $86.29M | $21.02M |
| Free Cash Flow | $601.72M | $290.84M | ($108.59M) | ($248.48M) | ($92.32M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | - | - | - | - | - |
| Operating margin | -2.7% | -26.5% | -75.6% | -64.2% | -21.2% |
| EBITDA margin | 4.3% | -19.2% | -67.1% | -60.3% | -19.3% |
| Net margin | 1.6% | -22.3% | -62.1% | -52.4% | -22.1% |
| Free cash flow margin | 18.7% | 12.5% | -6.8% | -18.4% | -18.1% |
| FCF / Net income | 11.53 | -0.56 | 0.11 | 0.35 | 0.82 |
| R&D / Revenue | - | - | - | - | - |
| SG&A / Revenue | 16.9% | 22.6% | 36.9% | 42.8% | 23.8% |
| Effective tax rate | 15.1% | - | - | - | - |
| Return on assets | 0.5% | -5.4% | -12.1% | -10.1% | -2.3% |
| Return on equity | 1.7% | -19.0% | -38.9% | -27.0% | -4.4% |
| Return on invested capital | -0.7% | -10.6% | - | - | - |
| Liquidity | |||||
| Current ratio | - | - | - | - | - |
| Quick ratio | - | - | - | - | - |
| Cash ratio | - | - | - | - | - |
| Leverage | |||||
| Debt / Equity | 2.48 | 0.67 | - | - | - |
| Debt / Assets | 0.68 | 0.19 | - | - | - |
| Debt / EBITDA | 55.22 | - | - | - | - |
| Interest coverage | -0.2x | -1.8x | -6.6x | -12.4x | -3.3x |
| Equity multiplier | 3.63 | 3.48 | 3.22 | 2.66 | 1.89 |
| Liabilities / Assets | 0.72 | 0.71 | 0.69 | 0.62 | 0.47 |
| Efficiency | |||||
| Asset turnover | 0.29 | 0.24 | 0.19 | 0.19 | 0.10 |
| Inventory turnover | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - |
| Valuation | |||||
| P / E | 460.9x | - | - | - | - |
| P / B | 7.7x | 3.4x | 1.8x | 1.9x | 1.2x |
| P / S | 7.3x | 4.0x | 2.9x | 3.8x | 6.3x |
| EV / EBITDA | 216.5x | - | - | - | - |
| Growth | |||||
| Revenue growth (YoY) | 38.8% | 46.3% | 17.7% | 164.8% | - |
| Revenue CAGR (3y) | 33.7% | 65.8% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - |
| Operating income growth (YoY) | 85.8% | 48.7% | -38.7% | -703.5% | - |
| Net income growth (YoY) | - | 47.5% | -39.3% | -528.3% | - |
| EPS growth (YoY) | - | 50.0% | -33.1% | 4.6% | - |
| EPS CAGR (3y) | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - |
| FCF growth (YoY) | 106.9% | - | 56.3% | -169.2% | - |
| FCF CAGR (5y) | - | - | - | - | - |
| Book value growth (YoY) | 12.3% | 7.8% | -3.2% | 1.4% | - |
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%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- -Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Personal Credit Institutions
Comparing Affirm Holdings against the 5 most active filers in the same SIC group.