AFRM

Updated: Mar 12, 2026 11:30 AM

Affirm Holdings Inc

Market Cap: $24.68B P/S: 26x Ownership — Insider: 4.4% | Institutional: 83.2% | Retail: 12.4% FINANCIAL SERVICES CREDIT SERVICES

Affirm Holdings, Inc. is a prominent financial technology company headquartered in San Francisco, California, focused on providing innovative point-of-sale financing and buy now, pay later (BNPL) solutions across the U.S. and Canada. By enhancing consumer purchasing power and advocating for responsible spending practices, Affirm facilitates seamless integrations with merchants, thereby optimizing conversion rates and driving sales growth. As e-commerce continues to evolve, Affirm’s differentiated financing solutions are not only transforming consumer payment experiences but are also reinforcing transparency in credit access, cementing its role as a key player in the retail industry's digital transformation.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        7/7 dates (100%)
  ✅ grossProfit                         7/7 dates (100%)
  ✅ netIncome                           7/7 dates (100%)

Plot for AFRM (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -3.22B                    -1.61B                     0.00B                     1.61B                     3.22B
               |                         |                         |                         |                         |

  2019-06-30 |                                                   |  0.26B
  2020-06-30 |                                                   |  0.51B
  2021-06-30 |                                              |  0.87B
  2022-06-30 |                                          |  1.35B
  2023-06-30 |                                     |  1.59B
  2024-06-30 |                                             |  2.32B
  2025-06-30 |                                                     | 3.22B

               |                         |                         |                         |                         |
               -3.22B                    -1.61B                     0.00B                     1.61B                     3.22B

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  researchAndDevelopment              6/7 dates (86%)
  ✅ sellingGeneralAndAdministrative     7/7 dates (100%)
  ✅ costofGoodsAndServicesSold          7/7 dates (100%)

Plot for AFRM (in B)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B                     0.26B                     0.52B                     0.79B                     1.05B
               |                         |                         |                         |                         |

  2019-06-30 |  0.11B
  2020-06-30 |  0.17B
  2021-06-30 |  0.38B
  2022-06-30 |  0.58B
  2023-06-30 |  0.87B
  2024-06-30 |  0.85B
  2025-06-30 |  1.05B ⊗

               |                         |                         |                         |                         |
               0.00B                     0.26B                     0.52B                     0.79B                     1.05B

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         7/7 dates (100%)
  ✅ shortLongTermDebtTotal              7/7 dates (100%)
  ✅ operatingCashflow                   7/7 dates (100%)

Plot for AFRM (in B)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -7.85B                    -3.93B                     0.00B                     3.93B                     7.85B
               |                         |                         |                         |                         |

  2019-06-30 |                                                    |  0.59B
  2020-06-30 |                                                    |  0.92B
  2021-06-30 |                                                    |  1.98B
  2022-06-30 |                                                    |  4.14B
  2023-06-30 |                                                     |  5.45B
  2024-06-30 |                                                     |  6.61B
  2025-06-30 |                                                     | 7.85B

               |                         |                         |                         |                         |
               -7.85B                    -3.93B                     0.00B                     3.93B                     7.85B

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   7/7 dates (100%)
  ✅ capitalExpenditures                 7/7 dates (100%)

Plot for AFRM (in M)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -793.91M                  -396.95M                    0.00M                    396.95M                   793.91M
               |                         |                         |                         |                         |

  2019-06-30 |                                               |  -92.50M
  2020-06-30 |                                                |  -71.30M
  2021-06-30 |                                        |  -193.13M
  2022-06-30 |                                          |  -162.19M
  2023-06-30 |                                                     |  120.78M
  2024-06-30 |                                                     |  450.14M
  2025-06-30 |                                                     | 793.91M

               |                         |                         |                         |                         |
               -793.91M                  -396.95M                    0.00M                    396.95M                   793.91M

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         7/7 dates (100%)
  ✅ totalLiabilities                    7/7 dates (100%)
  ✅ totalShareholderEquity              7/7 dates (100%)

Plot for AFRM (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -11.15B                   -5.58B                     0.00B                     5.58B                    11.15B
               |                         |                         |                         |                         |

  2019-06-30 |                                                    |  1.41B
  2020-06-30 |                                                   |  1.77B
  2021-06-30 |                                                     |  4.87B
  2022-06-30 |                                                     |  6.97B
  2023-06-30 |                                                     |  8.16B
  2024-06-30 |                                                     |  9.52B
  2025-06-30 |                                                     | 11.15B

               |                         |                         |                         |                         |
               -11.15B                   -5.58B                     0.00B                     5.58B                    11.15B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           7/7 dates (100%)
  ✅ shortLongTermDebtTotal              7/7 dates (100%)
  ✅ totalShareholderEquity              7/7 dates (100%)

Plot for AFRM (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -7.85B                    -3.93B                     0.00B                     3.93B                     7.85B
               |                         |                         |                         |                         |

  2019-06-30 |                                                   |  0.59B
  2020-06-30 |                                                   |  0.92B
  2021-06-30 |                                                  |  2.58B
  2022-06-30 |                                                |  4.14B
  2023-06-30 |                                              |  5.45B
  2024-06-30 |                                                  |  6.61B
  2025-06-30 |                                                     | 7.85B

               |                         |                         |                         |                         |
               -7.85B                    -3.93B                     0.00B                     3.93B                     7.85B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for AFRM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -933.34M                  -466.67M                    0.00M                    466.67M                   933.34M
               |                         |                         |                         |                         |

  2019-09-30 |                                                   |  87.95M
  2019-12-31 |                                                   |  129.98M
  2020-03-31 |                                                |  138.27M
  2020-06-30 |                                                     |  153.33M
  2020-09-30 |                                                    |  173.98M
  2020-12-31 |                                                    |  204.04M
  2021-03-31 |                                     |  -287.05M
  2021-06-30 |                                            |  261.78M
  2021-09-30 |                                    |  -306.62M
  2021-12-31 |                                            |  361.01M
  2022-03-31 |                                                  |  354.76M
  2022-06-30 |                                           |  364.13M
  2022-09-30 |                                       |  361.62M
  2022-12-31 |                                   |  399.56M
  2023-03-31 |                                          |  380.98M
  2023-06-30 |                                          |  445.82M
  2023-09-30 |                                           |  496.55M
  2023-12-31 |                                            |  591.11M
  2024-03-31 |                                              |  576.16M
  2024-06-30 |                                                  |  659.18M
  2024-09-30 |                                               |  698.48M
  2024-12-31 |                                                     |  866.38M
  2025-03-31 |                                                     |  783.13M
  2025-06-30 |                                                     |  876.42M
  2025-09-30 |                                                     | 933.34M

               |                         |                         |                         |                         |
               -933.34M                  -466.67M                    0.00M                    466.67M                   933.34M

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  researchAndDevelopment              24/25 dates (96%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for AFRM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M                    75.48M                    150.96M                   226.43M                   301.91M
               |                         |                         |                         |                         |

  2019-09-30 |  35.06M
  2019-12-31 |  43.26M
  2020-03-31 |  47.33M
  2020-06-30 |  118.38M
  2020-09-30 |  47.27M
  2020-12-31 |  58.44M
  2021-03-31 |  180.00M
  2021-06-30 |  150.21M
  2021-09-30 |  136.20M
  2021-12-31 |  141.29M
  2022-03-31 |  153.66M
  2022-06-30 |  182.74M
  2022-09-30 |  199.32M
  2022-12-31 |  223.25M
  2023-03-31 |  227.02M
  2023-06-30 |  223.56M
  2023-09-30 |  208.64M
  2023-12-31 |  210.04M
  2024-03-31 |  213.04M
  2024-06-30 |  213.40M
  2024-09-30 |  229.44M
  2024-12-31 |  264.17M ⊗
  2025-03-31 |  271.02M
  2025-06-30 |  282.94M
  2025-09-30 |  301.91M

               |                         |                         |                         |                         |
               0.00M                    75.48M                    150.96M                   226.43M                   301.91M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ⚠️  cashAndShortTermInvestments         23/25 dates (92%)
  ⚠️  shortLongTermDebtTotal              22/25 dates (88%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for AFRM (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -7.96B                    -3.98B                     0.00B                     3.98B                     7.96B
               |                         |                         |                         |                         |

  2019-09-30 |                                                   | -0.32B ⊗
  2019-12-31 |                                                    | -0.02B ⊗⊗
  2020-03-31 |                                                    | -0.01B ⊗⊗
  2020-06-30 |                                                    |  0.92B
  2020-09-30 |                                                    |  1.22B
  2020-12-31 |                                                    |  1.71B
  2021-03-31 |                                                    |  2.11B
  2021-06-30 |                                                    |  1.98B
  2021-09-30 |                                                     |  2.22B
  2021-12-31 |                                                  |  4.34B
  2022-03-31 |                                                    |  4.16B
  2022-06-30 |                                                    |  4.14B
  2022-09-30 |                                                     |  4.37B
  2022-12-31 |                                                    |  5.09B
  2023-03-31 |                                                    |  4.82B
  2023-06-30 |                                                     |  5.45B
  2023-09-30 |                                                     |  5.68B
  2023-12-31 |                                                     |  6.24B
  2024-03-31 |                                                     |  6.41B
  2024-06-30 |                                                     |  6.61B
  2024-09-30 |                                                     |  7.12B
  2024-12-31 |                                                     |  7.50B
  2025-03-31 |                                                     |  7.36B
  2025-06-30 |                                                     |  7.85B
  2025-09-30 |                                                     | 7.96B

               |                         |                         |                         |                         |
               -7.96B                    -3.98B                     0.00B                     3.98B                     7.96B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for AFRM (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -440.25M                  -220.13M                    0.00M                    220.13M                   440.25M
               |                         |                         |                         |                         |

  2019-09-30 |                                                   |  -18.53M
  2019-12-31 |                                                   |  -16.12M
  2020-03-31 |                                                    |  -8.21M
  2020-06-30 |                                                  |  -28.45M
  2020-09-30 |                                                    |  4.17M
  2020-12-31 |                                               |  -47.66M
  2021-03-31 |                                      |  -123.26M
  2021-06-30 |                                                   |  -19.91M
  2021-09-30 |                                                     |  365.15M
  2021-12-31 | |  -440.25M
  2022-03-31 |                                                  |  -27.98M
  2022-06-30 |                                              |  -59.11M
  2022-09-30 |                                                     |  51.22M
  2022-12-31 |                                                  |  34.25M
  2023-03-31 |                                               |  -54.27M
  2023-06-30 |                                                     |  43.79M
  2023-09-30 |                                                     |  98.90M
  2023-12-31 |                                                     |  74.32M
  2024-03-31 |                                                     |  208.15M
  2024-06-30 |                                                     |  68.76M
  2024-09-30 |                                                     |  196.87M
  2024-12-31 |                                                     |  312.02M
  2025-03-31 |                                                     |  210.39M
  2025-06-30 |                                                     |  74.64M
  2025-09-30 |                                                     |  374.57M

               |                         |                         |                         |                         |
               -440.25M                  -220.13M                    0.00M                    220.13M                   440.25M

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ⚠️  totalAssets                         22/25 dates (88%)
  ⚠️  totalLiabilities                    22/25 dates (88%)
  ⚠️  totalShareholderEquity              23/25 dates (92%)

Plot for AFRM (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               -11.48B                   -5.74B                     0.00B                     5.74B                    11.48B
               |                         |                         |                         |                         |

  2019-09-30 |                                                     |  0.53B ⊗⊗
  2020-06-30 |                                                   |  1.77B
  2020-09-30 |                                                     |  2.25B
  2020-12-31 |                                                   |  3.06B
  2021-03-31 |                                                     |  4.77B
  2021-06-30 |                                                     |  4.87B
  2021-09-30 |                                                     |  5.40B
  2021-12-31 |                                                     |  6.95B
  2022-03-31 |                                                     |  7.03B
  2022-06-30 |                                                     |  6.97B
  2022-09-30 |                                                     |  7.17B
  2022-12-31 |                                                     |  7.80B
  2023-03-31 |                                                     |  7.51B
  2023-06-30 |                                                     |  8.16B
  2023-09-30 |                                                     |  8.41B
  2023-12-31 |                                                     |  9.06B
  2024-03-31 |                                                     |  9.20B
  2024-06-30 |                                                     |  9.52B
  2024-09-30 |                                                     |  10.14B
  2024-12-31 |                                                     |  10.48B
  2025-03-31 |                                                     |  10.44B
  2025-06-30 |                                                     |  11.15B
  2025-09-30 |                                                     | 11.48B

               |                         |                         |                         |                         |
               -11.48B                   -5.74B                     0.00B                     5.74B                    11.48B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ⚠️  shortLongTermDebtTotal              22/25 dates (88%)
  ⚠️  totalShareholderEquity              23/25 dates (92%)

Plot for AFRM (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -7.96B                    -3.98B                     0.00B                     3.98B                     7.96B
               |                         |                         |                         |                         |

  2019-09-30 |                                                    |  0.53B ⊗
  2019-12-31 |                                                    | -0.03B ⊗⊗
  2020-03-31 |                                                    | -0.09B ⊗⊗
  2020-06-30 |                                                   |  0.92B
  2020-09-30 |                                                    |  1.22B
  2020-12-31 |                                                   |  1.71B
  2021-03-31 |                                                   |  2.40B
  2021-06-30 |                                                    |  2.58B
  2021-09-30 |                                                   |  2.38B
  2021-12-31 |                                                    |  4.34B
  2022-03-31 |                                                    |  4.16B
  2022-06-30 |                                                    |  4.14B
  2022-09-30 |                                                   |  4.37B
  2022-12-31 |                                                   |  5.09B
  2023-03-31 |                                                    |  4.82B
  2023-06-30 |                                                    |  5.45B
  2023-09-30 |                                                    |  5.68B
  2023-12-31 |                                                    |  6.24B
  2024-03-31 |                                                    |  6.41B
  2024-06-30 |                                                    |  6.61B
  2024-09-30 |                                                    |  7.12B
  2024-12-31 |                                                     |  7.50B
  2025-03-31 |                                                     |  7.36B
  2025-06-30 |                                                     |  7.85B
  2025-09-30 |                                                     | 7.96B

               |                         |                         |                         |                         |
               -7.96B                    -3.98B                     0.00B                     3.98B                     7.96B

Price History

Volume

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