Affirm Holdings, Inc.
Affirm Holdings, Inc.
Affirm Holdings, Inc. (AFRM) — SEC Financial Statements & Analysis
Affirm Holdings, Inc. (AFRM) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Common Stock | - | - | - | - | - | - | 314 | - | 3 | 4 | 301 | 297 | |||||
Notes Issued By Securitization Trusts | 493 | 4 | 4,831 | 4,834 | 4,085 | 3,989 | 3,985 | 3,237 | 3,241 | 2,741 | 2,399 | 2,166 | |||||
Variable Interest Entity Primary Beneficiary | 62 | -8 | 318 | 193 | -89 | 14 | 210 | 146 | -49 | -10 | 216 | 204 | |||||
Cash And Cash Equivalents At Carrying Value | 1,723 | 1,528 | 1,429 | 1,354 | 1,351 | 1,200 | 1,046 | 1,013 | 1,273 | 1,037 | 1,079 | 892 | |||||
Restricted Cash | 751 | 567 | 669 | 402 | 385 | 537 | 338 | 282 | 347 | 411 | 409 | 368 | |||||
Other Investments | 758 | 723 | 812 | 871 | 780 | 667 | 1,074 | 1,132 | 781 | 914 | 1,022 | 1,175 | |||||
Loans Receivable Held For Sale Amount | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Notes Receivable Gross | 8,573 | 8,774 | 7,235 | 7,026 | 6,630 | 6,796 | 6,311 | 5,670 | 5,461 | 5,239 | 4,549 | 4,403 | |||||
Financing Receivable Allowance For Credit Losses | -512 | -478 | -426 | -397 | -375 | -364 | -351 | -309 | -289 | -262 | -232 | -205 | |||||
Notes Receivable Net | 8,061 | 8,295 | 6,809 | 6,629 | 6,255 | 6,432 | 5,960 | 5,361 | 5,172 | 4,977 | 4,317 | 4,198 | |||||
Accounts Receivable Net | 231 | 268 | 284 | 426 | 220 | 204 | 308 | 353 | 293 | 307 | 236 | 199 | |||||
Property Plant And Equipment Net | 668 | 640 | 614 | 573 | 543 | 506 | 473 | 428 | 402 | 370 | 339 | 290 | |||||
Goodwill | 529 | 533 | 530 | 534 | 522 | 522 | 537 | 533 | 536 | 541 | 536 | 543 | |||||
Intangible Assets Net Excluding Goodwill | 27 | 13 | 13 | 13 | 12 | 12 | 13 | 14 | 15 | 17 | 20 | 34 | |||||
Other Assets | 352 | 345 | 270 | 295 | 301 | 325 | 299 | 299 | 263 | 356 | 292 | 279 | |||||
Assets | 13,142 | 12,957 | 11,479 | 11,155 | 10,436 | 10,481 | 10,139 | 9,520 | 9,201 | 9,065 | 8,407 | 8,156 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities | |||||||||||||||||
Accounts Payable Current And Noncurrent | 60 | 57 | 58 | 83 | 41 | 51 | 58 | 41 | 35 | 60 | 27 | 29 | |||||
Interest Payable Current And Noncurrent | 28 | 29 | 26 | 24 | 24 | 25 | 24 | 24 | 23 | 22 | 20 | 13 | |||||
Accrued Liabilities And Other Liabilities | 218 | 184 | 166 | 157 | 174 | 156 | 137 | 147 | 150 | 150 | 160 | 181 | |||||
Convertible Debt | 1,129 | 1,128 | 1,128 | 1,153 | 1,152 | 1,151 | 1,203 | 1,341 | 1,386 | 1,416 | 1,415 | 1,414 | |||||
Line Of Credit | 2,418 | 3,047 | 1,778 | 1,623 | 1,909 | 2,167 | 1,744 | 1,837 | 1,613 | 1,907 | 1,710 | 1,765 | |||||
Liabilities | 9,358 | 9,410 | 8,180 | 8,086 | 7,561 | 7,696 | 7,304 | 6,788 | 6,578 | 6,430 | 5,840 | 5,621 | |||||
Stockholders Equity | |||||||||||||||||
Additional Paid In Capital | 6,551 | 6,410 | 6,299 | 6,141 | 6,045 | 5,962 | 6,054 | 5,863 | 5,705 | 5,572 | 5,355 | 5,141 | |||||
Retained Earnings Accumulated Deficit | -2,744 | -2,847 | -2,976 | -3,057 | -3,126 | -3,129 | -3,209 | -3,109 | -3,064 | -2,930 | -2,763 | -2,591 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -24 | -17 | -24 | -15 | -45 | -48 | -9 | -22 | -17 | -7 | -25 | -15 | |||||
Stockholders Equity | 3,783 | 3,547 | 3,299 | 3,069 | 2,875 | 2,786 | 2,836 | 2,732 | 2,623 | 2,635 | 2,567 | 2,534 | |||||
Liabilities And Stockholders Equity | 13,142 | 12,957 | 11,479 | 11,155 | 10,436 | 10,481 | 10,139 | 9,520 | 9,201 | 9,065 | 8,407 | 8,156 | |||||
Assets | |||||||||||||||||
Common Class A | 2 | 3 | 289 | 0 | 5 | 5 | 272 | 0 | 4 | 17 | 242 | 0 | |||||
Common Class B | -0 | -0 | 41 | 0 | -0 | -1 | 42 | 0 | -2 | -12 | 60 | 0 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.57% | 14.93% | 8.29% | -20.94% | -28.42% | 7.24% | 9.34% | 18.01% | - | - | - | - |
| 2025 | 43.49% | 32.49% | 14.22% | 3.89% | -25.18% | -20.50% | 11.83% | 46.65% | 44.56% | 15.24% | -15.11% | -11.85% |
| 2024 | 73.12% | 125.83% | 89.98% | -22.78% | -24.30% | -32.28% | -7.31% | -4.34% | -14.19% | 42.27% | 41.04% | 77.80% |
| 2023 | - | - | - | - | - | - | 27.64% | 24.63% | 40.41% | 36.99% | 1.18% | 26.08% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Leverage & Debt | |||||||||||||||||
| Interest Coverage TTM | 0.74 | 0.53 | 0.25 | -0.21 | -0.53 | -0.93 | -1.44 | -1.79 | -2.52 | -3.43 | -4.84 | -6.56 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 1.10 | 0.81 | 0.67 | 0.15 | -0.18 | -0.58 | -1.40 | -1.67 | -2.17 | -2.44 | -2.98 | -3.34 | |||||
| Free Cash Flow Per Share TTM | 2.33 | 1.85 | 2.33 | 1.86 | 1.88 | 1.90 | 1.20 | 0.94 | 0.89 | 0.11 | -0.22 | -0.37 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Operating Profit Margin TTM | 15.86% | 17.75% | 9.06% | -7.83% | -65.69% | -58.30% | -96.03% | -74.56% | -63.24% | -89.25% | -114.15% | -191.54% | |||||
| Net Profit Margin TTM | 18.50% | 21.70% | 19.38% | 4.68% | -18.67% | -31.24% | -79.50% | -62.68% | -54.58% | -71.59% | -92.09% | -157.17% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 520.64% | 104.34% | 114.26% | 34.86% | -73.21% | -39.25% | -42.94% | 31.75% | 49.14% | 75.59% | 67.45% | 12.11% | |||||
| Net Income Growth (1Y) | -714.89% | -241.92% | -152.24% | -110.08% | -90.83% | -73.49% | -50.74% | -47.45% | -29.74% | -7.91% | 38.92% | 39.29% | |||||
| EPS Growth (1Y) | -691.02% | -236.83% | -150.34% | -109.67% | -91.16% | -74.70% | -52.97% | -49.92% | -33.20% | -12.07% | 33.02% | 32.86% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 40.39 | 88.12 | 103.53 | 427.74 | -235.46 | -98.66 | -29.11 | -18.08 | -17.17 | -20.14 | -7.13 | -4.59 | |||||
| P/B | 4.08 | 7.01 | 7.32 | 7.27 | 5.09 | 7.05 | 4.58 | 3.43 | 4.44 | 5.74 | 2.52 | 1.79 | |||||
| P/S TTM | 7.47 | 19.12 | 20.07 | 20.04 | 43.97 | 30.83 | 23.14 | 11.33 | 9.37 | 14.42 | 6.57 | 7.22 | |||||
| Market Cap | 15.45B | 24.88B | 24.13B | 22.32B | 14.64B | 19.63B | 12.99B | 9.36B | 11.65B | 15.11B | 6.46B | 4.53B | |||||
| Enterprise Value | 14.10B | 23.91B | 23.16B | 21.72B | 14.06B | 19.04B | 12.81B | 9.41B | 11.41B | 15.08B | 6.39B | 4.68B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 786.85M | 619.13M | 769.21M | 601.72M | 608.71M | 613.01M | 380.47M | 290.84M | 279.27M | 32.80M | -65.57M | -108.59M | |||||
| Net Debt | -1.35B | -966.91M | -969.94M | -603.42M | -583.94M | -586.11M | -182.10M | 46.03M | -233.80M | -32.03M | -73.41M | 154.26M | |||||
Per-Share and Margin | |||||||||||||||||
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Growth Rates | |||||||||||||||||
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Credit, Liquidity, Returns, Payout | |||||||||||||||||
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Valuation Ratios | |||||||||||||||||
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