Affirm Holdings vs Shift4 Payments
Affirm Holdings and Shift4 Payments are similar in size: $4.26bn and $4.18bn of revenue in their latest fiscal years. Affirm Holdings grew faster (32.2% against 25.5%). Affirm Holdings kept more of each dollar of sales as profit: a net margin of 45.3% against 2.8%. Affirm Holdings carries less debt relative to equity (179.6% against 318.2%).
| Latest fiscal year | Affirm HoldingsAFRM, 2026 | Shift4 PaymentsFOUR, 2025 |
|---|---|---|
| Revenue | $4.26bn | $4.18bn |
| Revenue growth | 32.2% | 25.5% |
| Net income | $1.93bn | $119m |
| Operating margin | 9.8% | 8.4% |
| Net margin | 45.3% | 2.8% |
| Return on equity | 45.1% | 10.6% |
| Free cash flow | $993m | $624m |
| Cash | $1.63bn | $964m |
| Total debt | $9.85bn | $4.59bn |
| Debt to equity | 179.6% | 318.2% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $0 | $453m |
| Employees | 2,358 | 6,300 |
| Market value | $25.73bn | $56.1m |
| Price vs our value range | — | Below our value range |
| Moat score | 22 (Weak) | 17 (Weak) |
| Insider trades, 12 months | 0 buys, 19 sales | 6 buys, 4 sales |