Affirm Holdings, Inc. (AFRM)

Affirm Holdings, Inc. operates payment network in the United States, Canada, and internationally. Its platform offers pay-over-time solutions at checkout for both consumers and merchants. The company's commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time. It has active merchants covering small businesses, large enterprises, direct-to-consumer brands, brick-and-mortar stores, and companies with an omni-channel presence. The company's merchants represent a range of industries, including electronics; equipment and auto; fashion and beauty; general merchandise; home and lifestyle services; sporting goods and outdoors; and travel and ticketing. Affirm Holdings, Inc. was founded in 2012 and is headquartered in San Francisco, California.

Ticker: AFRM
Exchange: Nasdaq
Sector: Financial Services
Industry: Credit Services
Market cap: $23.09B
52-week range: $42.10 - $90.44

Valuation

Share price: $68.11 (close of Nov 6, 2026)
P/E (TTM): 11.35x
Price to book: 4.01x
Price to free cash flow: 28.26x
Enterprise value: $31.30B
Book value per share: $16.96

Price performance

Period	Change
1 day	-2.23%
5 days	-7.30%
1 month	-9.04%
3 months	-11.06%
6 months	+3.86%
Year to date	-8.49%
1 year	+3.26%
3 years	+213.73%
5 years	-58.53%
All time	-29.32%

Short interest

As of: Oct 15, 2026
Short % of float: 5.86%
Shares short: 17.35M
Days to cover: 4.10
Change since prior report: -2.98%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 35.19%
Return on assets: 12.22%
Net margin: 45.29%
Revenue growth: 32.15%
Free cash flow growth: 64.97%

Cash flow and balance sheet

Free cash flow yield (TTM): 3.54%
Net debt to EBITDA: 6.49x

Latest reported year

Period end: Jun 30, 2026
Fiscal year: 2026
Revenue: $4.26B
Net income: $1.93B
Earnings per share: $5.76
Shares outstanding: 335.16M

Income statement by year

Period end	Revenue	Net income	EPS
2026-06-30	$4.26B	$1.93B	$5.76
2025-06-30	$3.22B	$52.19M	$0.16
2024-06-30	$2.32B	-$517.76M	-$1.67
2023-06-30	$1.59B	-$985.35M	-$3.34
2022-06-30	$1.35B	-$707.42M	-$2.51
2021-06-30	$870.46M	-$441.03M	-$2.78
2020-06-30	$509.53M	-$112.60M	-$2.63
2019-06-30	$264.37M	-$120.45M	-$2.84

Margins and returns by year

Period end	Net margin	Return on equity
2026-06-30	45.29%	35.19%
2025-06-30	1.62%	1.70%
2024-06-30	-22.29%	-18.95%
2023-06-30	-62.05%	-38.88%
2022-06-30	-52.43%	-27.02%
2021-06-30	-50.67%	-17.12%
2020-06-30	-22.10%	-
2019-06-30	-45.56%	-

Cash and debt by year

Period end	Cash	Debt
2026-06-30	$1.63B	$9.79B
2025-06-30	$1.35B	$7.61B
2024-06-30	$1.01B	$1.84B
2023-06-30	$892.03M	$1.76B
2022-06-30	$1.26B	$672.58M
2021-06-30	$1.47B	$680.60M
2020-06-30	$267.06M	$817.93M
2019-06-30	$320.45M	-

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2026-06-30	$992.63M	$304.67M
2025-06-30	$601.72M	$321.43M
2024-06-30	$290.84M	$344.51M
2023-06-30	-$108.59M	$451.71M
2022-06-30	-$248.48M	$390.98M
2021-06-30	-$213.38M	$292.51M
2020-06-30	-$92.32M	$29.63M
2019-06-30	-$107.06M	$33.70M

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-05	Sep 2026	$0.35
2026-08-27	Jun 2026	$0.33
2026-05-07	Mar 2026	$0.17
2026-02-05	Dec 2025	$0.28
2025-11-06	Sep 2025	$0.11
2025-08-28	Jun 2025	$0.11
2025-05-08	Mar 2025	-$0.09
2025-02-06	Dec 2024	-$0.20

Filings and sources

Company website: affirm.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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