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Affirm Holdings vs WEX

Affirm Holdings is the larger business, with $4.26bn of revenue in fiscal 2026 against $2.66bn for WEX (1.6 times as much). Affirm Holdings grew faster (32.2% against 1.2%). Affirm Holdings kept more of each dollar of sales as profit: a net margin of 45.3% against 11.4%.

Latest fiscal yearAffirm HoldingsAFRM, 2026WEXWEX, 2025
Revenue $4.26bn $2.66bn
Revenue growth 32.2% 1.2%
Net income $1.93bn $304m
Operating margin 9.8% —
Net margin 45.3% 11.4%
Return on equity 45.1% 22.3%
Free cash flow $993m $314m
Cash $1.63bn $906m
Total debt $9.85bn $4.91bn
Debt to equity 179.6% —
Dividend per share — —
Dividend yield — —
Share buybacks $0 $800m
Employees 2,358 6,600
Market value $25.26bn $6.03bn
Price vs our value range — Above our value range
Moat score 22 (Weak) 56 (Moderate)
Insider trades, 12 months 0 buys, 19 sales 2 buys, 40 sales

Each figure is from the company's latest annual report and links to the page it comes from. Fiscal years can end on different dates. Market value and the value verdict use the delayed price shown on the stock pages. Not a recommendation.

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Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.