Affirm Holdings, Inc. (AFRM) financials — revenue, cash, debt and margins

Affirm Holdings, Inc. (AFRM) financials — revenue, cash, debt and margins — InspectStocks

Key figures

Trailing twelve months where a flow is involved, latest reported balance where it is not.

Valuation

Market cap: $24.2B
P/E (TTM): 12.54
Price / sales: 5.68
EV / EBITDA: 44.96
Price / book: 4.41

Cash flow

FCF yield: 4.1%
SBC-adjusted FCF yield: 2.8%
SBC impact: 30.7%
Stock compensation (TTM): $304.7M

Margins & growth

Profit margin: 45.3%
Operating margin: 9.8%
Quarterly revenue (year on year): 33.0%
Quarterly earnings (year on year): 2,234.7%

Balance sheet

Cash & investments: $1.6B
Debt: $9.8B
Net cash / (debt): -$8.2B

Where the revenue comes from

What this company sells, and where it sells it, as the filings break it down.

By product or service

Year to Jun 30, 2025 · $1.1B

Merchant Network79%
$882.7M+30.8% vs. a year earlier
Virtual Card Network21%
$231.3M+52.8% vs. a year earlier

These lines are the breakdown as filed. We could not reconcile them against the total revenue for the same period.

By region

Year to Jun 30, 2025 · $3.2B

United States96%
$3.1B+39.5% vs. a year earlier
Canada4%
$119M+22.2% vs. a year earlier

What it owns and what it owes

Both on one scale, because both are money — the bar that is taller is the one that matters.

Cash and debt

Cash & InvestmentsTotal Debt

Cash counts short-term investments, not just the bank balance — technology companies park most of it in marketable securities, and leaving those out understates it several times over. Debt includes lease obligations.

Where the money goes

Cost of RevenueR&D ExpenseSG&A Expense

Only the three costs filers report consistently. Anything a company does not break out sits outside these bands, so the stack is not the whole cost base.

The rest of the series

Not on the overview because five charts is as much as one decision needs — but here in full, on one period switch. Each bar sums the four quarters ending there — a full year, brought up to today.

Total Revenue

$4.26BQ2 2026+7.3%

1Y: +32.15%2Y: +83.43%5Y: +389.52%

Everything the company sold, before any costs. Each bar sums the four quarters ending there — a full year, brought up to today.

EBITDA

$720.31MQ2 2026+18.5%

1Y: +422.71%2Y: +261.21%5Y: +298.06%

Operating profit before depreciation and amortisation — approximated from operating income, because no depreciation tag is reported consistently enough across filers to do better. Treat it as indicative. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit

$1.93BQ2 2026+404.6%45.3% of revenue

1Y: +3,597.91%2Y: +472.72%5Y: +537.57%

What was left after every cost, including tax. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit margin

45.3%Q2 2026+370.3%

How much of every dollar of sales the company keeps as profit. A grocer keeps a few cents; a software company can keep half. Each point covers the four quarters ending there — a full year, brought up to today.

Free Cash Flow

$992.63MQ2 2026+26.2%

1Y: +64.97%2Y: +241.29%5Y: +565.19%

Cash left over after running and maintaining the business. Each bar sums the four quarters ending there — a full year, brought up to today.

Profit per share

$5.53Q2 2026+402.7%

1Y: +4,153.85%2Y: +429.17%5Y: +349.10%

The same profit, split across every share. If this lags the profit chart above, the company is issuing shares and your slice is getting smaller. Restated onto today’s share count, so stock splits do not show as jumps. Each bar sums the four quarters ending there — a full year, brought up to today.

Shares outstanding

348.86MQ2 2026-3.4%

How many shares the profit is divided across. Rising is dilution; falling is the company buying itself back. Restated onto today’s basis, so splits do not show as jumps. Each point covers the four quarters ending there — a full year, brought up to today.

Price to earnings

74.1xQ2 2026+36.9%

Paid per unit of yearly profit. Periods with a loss, or profits too small for the ratio to mean anything, are left out — the line breaks rather than drawing through them. Each point covers the four quarters ending there — a full year, brought up to today.

About Affirm Holdings, Inc.

Ticker: AFRM
SEC classification: Personal Credit Institutions (6141)
Listed on: Nasdaq
Incorporated in: NV
Financial year ends: June 30
Filer size: Large accelerated filer

About this data

Everything above comes from Affirm Holdings, Inc.’s own filings with the SEC, as reported. No estimates, no analyst figures, nothing adjusted.

Share-count jumps we cannot explain: 3.33x around Jun 30, 2021 and 1.77x around Jun 30, 2022. No split accounts for these, so nothing was adjusted — most often it is real dilution rather than a data problem, which is why it is flagged and not corrected.

Not reported by this filer: Cost of Revenue, Gross Profit, R&D Expense, Non-interest Income, Non-interest Expense, Deposits, Current Assets, Current Liabilities, Short-term Investments, Inventory, Receivables, Long-term Debt (current), Short-term Borrowings, Borrowings (total), Operating Lease (current), Operating Lease (noncurrent), Finance Lease (current), Finance Lease Liabilities (total), Finance Lease (noncurrent), and Dividends paid. Companies choose which XBRL tags to use, and anything untagged cannot be recovered — so these are blank rather than guessed.