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Affirm Holdings, Inc. (AFRM) stock

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NASDAQ: AFRM Nasdaq Transaction & Payment Processing Services Next results ~November 5, 2026

C Fundamentals grade

Affirm Holdings, Inc. is a US-listed company in the transaction & payment processing services industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$52

Forward price-to-earnings vs peers

Base case. Range ~$41–$86. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Affirm Holdings, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 19 sales by directors and officers, last 12 monthsInsider trades
  • Funds392 adding, 237 cuttingOf 77 active managers that changed their stake, 44 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Affirm Holdings files

Where Affirm stands after its latest 10-K

Revenue for the twelve months to June 2026 was $4.26bn, up 32.2% on a year earlier, about the same pace as a quarter earlier. That growth ranks 86 of 931 among all the companies we cover. The diluted share count is up 2.3% on a year earlier, which dilutes existing holders. Our valuation models combined value is $41.63 a share, against a share price of $74.87.

Source: 10-K filed August 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Affirm Holdings, Inc.'s trailing-twelve-month revenue grew 32.2% year on year, with a free-cash-flow margin of 23.3%. Where it stands out: net margin of 45.3% ranks 3 of 30 transaction & payment processing services companies we cover. Where it lags: change in share count of 2.3% ranks 21 of 26 transaction & payment processing services companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 65.0% while net income grew 3597.9%: a 3533pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 32.2% over the last 12 months, against a median of 9.7% for transaction & payment processing services companies we cover.
  • Margins widening. Operating margin is up 12.5 points on a year ago.
  • Strong cash generation. 23.3% of revenue turned into free cash flow.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 6.1% over 90 days.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 2.3% in a year.
  • High debt. Long-term debt exceeds cash by $8.2bn, more than 1.5 times annual revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 59% and a beta of 2.5 against the S&P 500.
  • Insiders selling. 6 insiders sold $89M of stock over the past 365 days and none bought (96% under pre-set trading plans).
  • Weak cash conversion. Free cash flow was 51% of net income over the last 12 months.

Latest results: FY2026 Q4

Filed August 27, 2026
Earnings per share
$4.97 against an average estimate of $0.85: beat by 486.2%
Revenue
$1.17bn, up 33.0% on a year earlier
Share reaction
+1.7% in the first session after the results on August 27, 2026, against +0.4% for the S&P 500
Guidance given
GMV $13.15bn to $13.45bn (Fiscal Q4 2026); GMV $49.27bn to $49.57bn (Fiscal 2026)
Next report
November 5, 2026; average EPS estimate $0.86

Affirm Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.1%
  • 1 week+5.9%
  • 1 month+4.0%
  • This year-1.1%
  • 1 year+2.4%
  • 5 years-54.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.3B
Operating margin
9.8%
Net margin
45.3%
EPS (TTM, diluted)
$5.53

Growth

Revenue growth
+32.2%
Change in growth rate
+0.1 pts
Share count change
+2.3%

Earnings

Last results
August 27, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Insider trade
  8. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Affirm Holdings, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Affirm Holdings, Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.35 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$52 ~$41–$86 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$0.8 ~$12–$64 Left out: out of range vs price (0.01x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: pays no regular dividend
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$52 ~$41–$86 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Affirm Holdings, Inc. with asset managers, brokers and exchanges in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

22 /100

Weak moat

How hard Affirm Holdings's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -8.0% of total assets over 7 years.

  • Durability 10 / 20

    Operating margin has been a median -35.3%; its worst year was -75.6%.

  • Cash conversion 6 / 20

    Free cash flow was positive in 3 of 6 years, at a median 2.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (27 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $1.2bn and EPS of $0.86 (range $0.76 to $1.01) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.85 −45% $5.5bn +29%
Next $5.02 +30% $6.8bn +25%

Next year's EPS estimate has moved +6.1% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +3.6% on 90 days ago. In the last 30 days, 7 analysts raised Affirm Holdings, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Affirm Holdings, Inc., last 90 days
$3.50 $4.00 $4.50 $5.00 $5.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.72 Current fiscal year, 60 days ago: $3.72 Current fiscal year, 30 days ago: $3.83 Current fiscal year, 7 days ago: $3.85 Current fiscal year, Now: $3.85 $3.85 Next fiscal year, 90 days ago: $4.73 Next fiscal year, 60 days ago: $4.73 Next fiscal year, 30 days ago: $4.83 Next fiscal year, 7 days ago: $5.02 Next fiscal year, Now: $5.02 $5.02

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.72$4.73
60 days ago $3.72$4.73
30 days ago $3.83$4.83
7 days ago $3.85$5.02
Now $3.85$5.02

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.85 $4.97 +486.2%
Mar 2026 $0.73 $0.62 −15.0%
Dec 2025 $0.84 $0.72 −13.9%
Sept 2025 $0.62 $0.61 −1.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, May 7, 2026
  • Revenue Fiscal 2026 $4,175m to $4,205m
    “Revenue $1,080 to $1,110 million $4,175 to $4,205 million” source
  • Revenue Fiscal Q4 2026 $1,080m to $1,110m
    “Revenue $1,080 to $1,110 million $4,175 to $4,205 million” source
  • Operating Margin Fiscal 2026 8.9% to 9.4% GAAP
    “Operating Margin 9.5 to 11.5% 8.9 to 9.4%” source
  • Adjusted Operating Margin Fiscal 2026 28.2% to 28.8% Non-GAAP
    “Adjusted Operating Margin5 27.5 to 29.5% 28.2 to 28.8%” source
  • Operating Margin Fiscal Q4 2026 9.5% to 11.5% GAAP
    “Operating Margin 9.5 to 11.5% 8.9 to 9.4%” source
  • Adjusted Operating Margin Fiscal Q4 2026 27.5% to 29.5% Non-GAAP
    “Adjusted Operating Margin5 27.5 to 29.5% 28.2 to 28.8%” source
Show 8 more items
  • GMV Fiscal 2026 $49.265bn to $49.565bn
    “GMV $13.15 to $13.45 billion $49.265 to $49.565 billion” source
  • Revenue Less Transaction Costs Fiscal 2026 $2,031m to $2,046m Non-GAAP
    “Revenue Less Transaction Costs $535 to $550 million $2,031 to $2,046 million” source
  • Weighted Avg. Basic Shares Outstanding Fiscal 2026 about 336m
    “Weighted Avg. Basic Shares Outstanding 341 million 336 million” source
  • Weighted Avg. Diluted Shares Outstanding Fiscal 2026 about 349m
    “Weighted Avg. Diluted Shares Outstanding 352 million 349 million” source
  • GMV Fiscal Q4 2026 $13.15bn to $13.45bn
    “GMV $13.15 to $13.45 billion $49.265 to $49.565 billion” source
  • Revenue Less Transaction Costs Fiscal Q4 2026 $535m to $550m Non-GAAP
    “Revenue Less Transaction Costs $535 to $550 million $2,031 to $2,046 million” source
  • Weighted Avg. Basic Shares Outstanding Fiscal Q4 2026 about 341m
    “Weighted Avg. Basic Shares Outstanding 341 million 336 million” source
  • Weighted Avg. Diluted Shares Outstanding Fiscal Q4 2026 about 352m
    “Weighted Avg. Diluted Shares Outstanding 352 million 349 million” source

How earlier guidance turned out

  • Operating Margin, Fiscal 2026 guided 8.9% to 9.4% Above range: 9.785707%
  • Operating Margin, Fiscal Q4 2026 guided 9.5% to 11.5% Above range: 12.630022%
  • Revenue, Fiscal 2026 guided $4,175m to $4,205m Above range: $4,261m
  • Revenue, Fiscal Q4 2026 guided $1,080m to $1,110m Above range: $1,166m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

35 analysts, Oct 2026
Buy2880%
Hold720%
Sell00%

Monthly trend

  1. Oct 2026622735
  2. Sep 2026621734
  3. Aug 2026519933
  4. Jul 2026520934

Counts of recommendations published by analysts covering Affirm Holdings, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.9%
of tradable shares
Days to cover
4.14
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
88%
of shares
Held by insiders
4.3%
of shares
Employees
2,358
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +2.4%

$71.88 on October 31, 2025 to $73.58

ThenNowEffect
Revenue (last 12 months) $3.2bn $4.3bn +32.2%
Net margin 1.6% 45.3% +2698.3%
P/E multiple n/m 13.3x −97.2%
Share count 341m 349m −2.2%

Biggest factor: p/e multiple.

Last 3 years +228.0%

$22.43 on November 3, 2023 to $73.58

ThenNowEffect
Revenue (last 12 months) $1.6bn $4.3bn +168.3%
P/S multiple 4.2x 6.0x +44.4%
Share count 295m 349m −15.3%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
AFRM−90%+408%+24%+22%−1%
Industry peers (median)−26%+6%+9%−26%+9%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
AFRM25%67%33%58%55%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
AFRM−91%−57%−51%−56%−49%
S&P 500−25%−10%−8%−19%−9%

Worst fall since January 13, 2021: 95% from November 4, 2021 to December 27, 2022. Getting back needed a 1791% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$42.53 – $85.78
From 52-week high
−14.2%
vs 50-day average
+0.8%
vs 200-day average
+10.6%
Volatility (1 year)
59%
Beta vs S&P 500
2.50

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±9.1%
After a week
8 up, 4 down
typical move ±10.6%
After a month
4 up, 8 down
typical move ±22.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 27, 2026 +1.7% +0.4% −2.8% −12.1%
May 7, 2026 −2.4% +0.5% +3.0% −0.2%
February 5, 2026 −8.3% +0.6% −19.9% −18.3%
November 6, 2025 +2.9% −1.0% +2.3% −4.8%
August 28, 2025 +14.0% −0.2% +12.6% −1.3%
May 8, 2025 −10.0% +0.6% +0.4% +19.0%
February 6, 2025 +19.8% −0.6% +26.2% −26.1%
November 7, 2024 −7.0% +1.2% +6.4% +37.6%
August 28, 2024 +28.1% −0.6% +21.9% +26.6%
May 8, 2024 −0.3% +0.6% −7.4% −13.9%
February 8, 2024 −1.7% +0.6% −6.8% −16.6%
November 8, 2023 +12.5% −0.7% +17.6% +90.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Affirm Holdings, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Affirm Holdings, Inc.
$1B $2B $3B $4B $5B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $1.7B Revenue (TTM), FY24 Q2: $1.9B Revenue (TTM), FY24 Q3: $2.1B Revenue (TTM), FY24 Q4: $2.3B Revenue (TTM), FY25 Q1: $2.5B Revenue (TTM), FY25 Q2: $2.8B Revenue (TTM), FY25 Q3: $3B Revenue (TTM), FY25 Q4: $3.2B Revenue (TTM), FY26 Q1: $3.5B Revenue (TTM), FY26 Q2: $3.7B Revenue (TTM), FY26 Q3: $4B Revenue (TTM), FY26 Q4: $4.3B $4.3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $1.7B
FY24 Q2 $1.9B
FY24 Q3 $2.1B
FY24 Q4 $2.3B
FY25 Q1 $2.5B
FY25 Q2 $2.8B
FY25 Q3 $3B
FY25 Q4 $3.2B
FY26 Q1 $3.5B
FY26 Q2 $3.7B
FY26 Q3 $4B
FY26 Q4 $4.3B
Revenue growth, TTM YoY Affirm Holdings, Inc.
10% 20% 30% 40% 50% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 19.5% Revenue growth, TTM YoY, FY24 Q2: 29.3% Revenue growth, TTM YoY, FY24 Q3: 40.1% Revenue growth, TTM YoY, FY24 Q4: 46.3% Revenue growth, TTM YoY, FY25 Q1: 46.6% Revenue growth, TTM YoY, FY25 Q2: 46.3% Revenue growth, TTM YoY, FY25 Q3: 42.5% Revenue growth, TTM YoY, FY25 Q4: 38.8% Revenue growth, TTM YoY, FY26 Q1: 37.0% Revenue growth, TTM YoY, FY26 Q2: 32.7% Revenue growth, TTM YoY, FY26 Q3: 32.1% Revenue growth, TTM YoY, FY26 Q4: 32.2% 32.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 19.5%
FY24 Q2 29.3%
FY24 Q3 40.1%
FY24 Q4 46.3%
FY25 Q1 46.6%
FY25 Q2 46.3%
FY25 Q3 42.5%
FY25 Q4 38.8%
FY26 Q1 37.0%
FY26 Q2 32.7%
FY26 Q3 32.1%
FY26 Q4 32.2%
Operating margin (TTM) Affirm Holdings, Inc.
-80% -60% -40% -20% 0% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: -65.2% Operating margin (TTM), FY24 Q2: -48.9% Operating margin (TTM), FY24 Q3: -37.3% Operating margin (TTM), FY24 Q4: -26.5% Operating margin (TTM), FY25 Q1: -21.3% Operating margin (TTM), FY25 Q2: -13.3% Operating margin (TTM), FY25 Q3: -7.3% Operating margin (TTM), FY25 Q4: -2.7% Operating margin (TTM), FY26 Q1: 3.2% Operating margin (TTM), FY26 Q2: 6.2% Operating margin (TTM), FY26 Q3: 8.3% Operating margin (TTM), FY26 Q4: 9.8% 9.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 -65.2%
FY24 Q2 -48.9%
FY24 Q3 -37.3%
FY24 Q4 -26.5%
FY25 Q1 -21.3%
FY25 Q2 -13.3%
FY25 Q3 -7.3%
FY25 Q4 -2.7%
FY26 Q1 3.2%
FY26 Q2 6.2%
FY26 Q3 8.3%
FY26 Q4 9.8%
FCF margin (TTM) Affirm Holdings, Inc.
-10% 0% 10% 20% 30% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: -3.8% FCF margin (TTM), FY24 Q2: 1.7% FCF margin (TTM), FY24 Q3: 13.2% FCF margin (TTM), FY24 Q4: 12.5% FCF margin (TTM), FY25 Q1: 15.1% FCF margin (TTM), FY25 Q2: 21.9% FCF margin (TTM), FY25 Q3: 20.2% FCF margin (TTM), FY25 Q4: 18.7% FCF margin (TTM), FY26 Q1: 22.2% FCF margin (TTM), FY26 Q2: 16.7% FCF margin (TTM), FY26 Q3: 19.8% FCF margin (TTM), FY26 Q4: 23.3% 23.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 -3.8%
FY24 Q2 1.7%
FY24 Q3 13.2%
FY24 Q4 12.5%
FY25 Q1 15.1%
FY25 Q2 21.9%
FY25 Q3 20.2%
FY25 Q4 18.7%
FY26 Q1 22.2%
FY26 Q2 16.7%
FY26 Q3 19.8%
FY26 Q4 23.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 264 510 870 1,349 1,588 2,323 3,224 4,261
EBITDA −122 −98 −364 −813 −1,066 −447 138 720
Operating income −127 −108 −384 −866 −1,201 −616 −87 417
Net income −120 −113 −441 −707 −985 −518 52 1,930
Diluted EPS −$2.84 −$2.63 −$2.94 −$2.51 −$3.34 −$1.67 $0.15 $5.53
Growth (year on year)
Revenue — +92.7% +70.8% +55.0% +17.7% +46.3% +38.8% +32.2%
EBITDA — — — — — — — +422.7%
Margins
EBITDA margin −46.2% −19.3% −41.8% −60.3% −67.1% −19.2% 4.3% 16.9%
Operating margin −48.2% −21.2% −44.1% −64.2% −75.6% −26.5% −2.7% 9.8%
Net margin −45.6% −22.1% −50.7% −52.4% −62.0% −22.3% 1.6% 45.3%
Free-cash-flow margin −40.5% −18.1% −24.5% −18.4% −6.8% 12.5% 18.7% 23.3%
Cash flow
Cash from operations −88 −71 −193 −162 12 450 794 1,231
Capital spending 19 21 20 86 121 159 192 238
Free cash flow −107 −92 −213 −248 −109 291 602 993
Stock-based pay 34 30 293 391 452 345 321 305
Free cash flow after stock pay −141 −122 −506 −639 −560 −54 280 688
Balance sheet
Cash 358 267 1,467 1,255 892 1,013 1,354 1,630
Total debt 0 0 1,177 1,628 2,166 3,237 7,659 9,850
Net debt (negative = net cash) −358 −267 −290 372 1,274 2,224 6,305 8,220
Diluted shares 47m 48m 159m 282m 295m 310m 341m 349m
Returned to shareholders
Buybacks 3 19 1 0 0 0 250 0
Total returned 3 19 1 0 0 0 250 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$250M
Diluted share count
+2.3%
year over year

Competitors: side by side with peers

Closest by revenue in transaction & payment processing services
Last 12 months unless stated AFRM EEFT WU FOUR CPAY WEX Median
Revenue, last 12 months $4.3bn $4.4bn $4.0bn $4.8bn $5.0bn $2.9bn $1.6bn
Revenue growth, last 12 months 32.2% 5.8% −1.6% 32.4% 20.4% 9.7% 9.3%
Revenue growth, 3-year average 39.0% 7.5% −2.7% 28.2% 11.5% 4.8% 7.9%
Revenue growth, latest quarter 33.0% 3.2% −1.3% 34.1% 21.5% 12.8% 14.0%
Gross margin — 41.4% 35.1% 20.1% — 60.4% 45.0%
Operating margin 9.8% 11.5% 15.9% 8.1% 43.7% 26.6% 9.8%
Operating margin, 3-year average −6.5% 12.2% 17.0% 7.0% 44.3% 25.8% 11.1%
Net margin 45.3% 6.6% 9.8% 2.2% 22.7% 14.0% 6.1%
Cash from operations / revenue 28.9% 9.2% 15.1% 12.4% 36.8% −4.3% 18.4%
Free-cash-flow margin 23.3% 6.1% 14.0% 12.0% 32.6% −12.8% 16.1%
Free-cash-flow margin, 3-year average 18.2% 11.4% 12.7% 13.1% 41.4% 9.5% 16.3%
Stock pay / revenue 7.2% 1.4% 1.0% 1.8% 2.3% 4.5% 2.2%
Change in share count 2.3% 1.8% −5.6% — −3.3% −6.1% −2.7%

Median of all 30 companies we cover in transaction & payment processing services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

30 transaction & payment processing services companies
Measure Company Peer median Rank
Revenue growth Growth 32.2% 9.7% 5 of 30
Change in growth rate Growth +0.1pp -0.3pp 12 of 30
Operating margin Profitability 9.8% 9.8% 15 of 29
Net margin Profitability 45.3% 6.6% 3 of 30
Stock pay as % of revenue Cash generation 7.2% 2.3% 24 of 30
Change in share count Balance sheet 2.3% -1.7% 21 of 26

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Products and services
Line of business Revenue YoY
Merchant Network $1.1B ▲ 30.3%
Virtual Card Network $294M ▲ 27.1%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $4.1B 96.5% ▲ 32.4%
Canada $143M 3.4% ▲ 20.0%
Other Geographical $6.3M 0.1% ▲ 2135.5%

From Affirm Holdings, Inc.'s 10-K filed August 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$21.2B
Institutions reporting
654
Shares held vs prior quarter
▲ 8.2%
Positions opened / closed
133 / 70

Top buyers and sellers, Q2 2026: 392 institutions bought and 237 sold ; the biggest buyer was Jpmorgan Chase & Co (+11.4M shares) and the biggest seller Citadel Advisors LLC (−2.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Capital Research Global Investors $2.1B 26.0M 10.0% ▲ 5.7%
Capital World Investors $1.9B 23.1M 8.9% ▲ 2.7%
Morgan Stanley $1.9B 23.0M 8.8% ▲ 5.9%
Blackrock, Inc. $1.6B 19.6M 7.5% ▲ 4.7%
FMR LLC $1.4B 17.6M 6.8% ▲ 1.7%
Jpmorgan Chase & Co $1.4B 16.7M 6.5% ▲ 215.7%
Vanguard Capital Management LLC $1B 12.3M 4.7% ▲ 1.4%
Vanguard Portfolio Management LLC $969M 11.9M 4.6% ▲ 2.5%
State Street Corp $518M 6.3M 2.4% ▲ 5.3%
Baillie Gifford & Co $478M 5.9M 2.3% ▲ 10.5%
Geode Capital Management, LLC $465M 5.7M 2.2% ▲ 3.4%
Winslow Capital Management, LLC $373M 4.6M 1.8% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Affirm Holdings, Inc.'s complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $89.4M 19 trades by 6 insiders · 96% under pre-set plans
Net ▼ $89.4M net selling
Insider Date Trade Shares Price Value
O'Hare Robert Chief Financial Officer October 9, 2026 Sell pre-set plan 65,591 $80.02 $5.2M
Jiyane Siphelele Chief Accounting Officer September 14, 2026 Sell 26,980 $72.19 $1.9M
Jiyane Siphelele Chief Accounting Officer September 4, 2026 Sell 25,000 $72.41 $1.8M
Adkins Katherine Chief Legal Officer September 3, 2026 Sell pre-set plan 41,664 $75.53 $3.1M
O'Hare Robert Chief Financial Officer September 2, 2026 Sell pre-set plan 5,886 $74.02 $435,682
O'Hare Robert Chief Financial Officer September 1, 2026 Sell pre-set plan 15,545 $71.59 $1.1M
O'Hare Robert Chief Financial Officer September 1, 2026 Sell pre-set plan 200 $72.51 $14,502
Adkins Katherine Chief Legal Officer September 1, 2026 Sell pre-set plan 23,765 $70.13 $1.7M
Adkins Katherine Chief Legal Officer September 1, 2026 Sell pre-set plan 15,599 $71.00 $1.1M
Adkins Katherine Chief Legal Officer September 1, 2026 Sell pre-set plan 2,300 $71.87 $165,301
Linford Michael Chief Operating Officer August 28, 2026 Sell pre-set plan 79,219 $90.01 $7.1M
Watson Noel Bertram Director August 12, 2026 Sell pre-set plan 2,000 $77.86 $155,720

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 6 trades and filings

No trades in Affirm Holdings, Inc. disclosed in the last 12 months; 6 earlier trades on record.

  • Daniel S. Goldman(D-NY 10):Purchase, $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023
  • Thomas R. Suozzi(D-NY 3):Sale (full), $1,001 - $15,000, traded March 4, 2022, filed May 20, 2022
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded February 11, 2022, filed March 18, 2022

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 27, 2026
  • May 7, 2026
  • February 5, 2026
  • November 6, 2025
  • August 28, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Affirm Holdings, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Affirm Holdings, Inc. in brief

What does Affirm Holdings, Inc. do?
Affirm Holdings, Inc. is a US-listed company in the transaction & payment processing services industry. Its financial year ends in June.
What is Affirm Holdings, Inc.'s stock ticker?
Affirm Holdings, Inc. trades under the ticker AFRM on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Affirm Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Affirm Holdings, Inc. reported revenue of $4.3B, 32.2% higher than a year earlier, according to its SEC filings.
What is Affirm Holdings, Inc.'s free cash flow?
Affirm Holdings, Inc.'s free-cash-flow margin is 23.3% of revenue over the trailing twelve months.
Who are Affirm Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Capital Research Global Investors, Capital World Investors and Morgan Stanley. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Affirm Holdings, Inc.'s market cap?
On June 30, 2026, Affirm Holdings, Inc.'s market capitalisation was about $28.4B, with a price-to-earnings ratio of 14.7 and net debt of $8.2B. Market figures come from third-party market data and may be delayed.
Who are Affirm Holdings, Inc.'s competitors?
In our Transaction & Payment Processing Services peer group, the companies closest to Affirm Holdings, Inc. are Euronet Worldwide, Inc., Western Union Co, Shift4 Payments, Inc., Corpay and WEX Inc. The side-by-side comparison below sets their revenue, margins and growth against Affirm Holdings, Inc.'s.
Are insiders buying or selling Affirm Holdings, Inc. stock?
Over the last 12 months, Affirm Holdings, Inc.'s directors and officers reported 0 open-market purchases and 19 sales on Form 4. The insider trading page charts every trade.
When is Affirm Holdings, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Affirm Holdings, Inc. announces its own schedule.