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Affirm Holdings, Inc. AFRM

Nasdaq · stock · Personal Credit Institutions · website · IPO 2021-01-13

Affirm Holdings, Inc. statistics & valuation

Market cap$26.6B
P / E13.8×
P / S6.2×
P / B4.9×
P / FCF26.8×
Net margin45.3%
Return on equity35.2%
FCF margin23.3%
Net debt$8.2B
Net debt / EBITDA11.3×
Enterprise value USD$34.8B
EV / EBITDA48.3×
Earnings yield EBIT/EV1.2%
Graham number -38.2%$44.23

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($44.23); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-22.10% -50.70% -52.40% -62.10% -22.30% 1.60% 45.30% 2020202120222023202420252026
Gross margin (%)
2020202120222023202420252026
Operating margin (%)
-21.20% -44.10% -64.20% -75.60% -26.50% -2.70% 9.80% 2020202120222023202420252026
Return on equity (%)
-17.10% -27.00% -38.90% -19.00% 1.70% 35.20% 2020202120222023202420252026
Shares outstanding
47.9M 159.2M 281.7M 295.3M 309.9M 341.0M 348.8M 2020202120222023202420252026
Net debt ($)
$823.8M $6.26B $8.16B 2020202120222023202420252026
Share buybacks ($)
2020202120222023202420252026
Return on assets (%)
-8.00% -9.10% -10.10% -12.10% -5.40% 0.50% 12.20% 2020202120222023202420252026
Free cash flow margin (%)
-18.10% -24.50% -18.40% -6.80% 12.50% 18.70% 23.30% 2020202120222023202420252026
Debt / equity (×)
0.67× 2.48× 1.79× 2020202120222023202420252026
EPS ($)
-$2.63 -$2.94 -$2.51 -$3.34 -$1.67 $0.15 $5.53 2020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020
Operating margin9.8%-2.7%-26.5%-75.6%-64.2%-44.1%-21.2%
Net margin45.3%1.6%-22.3%-62.1%-52.4%-50.7%-22.1%
FCF margin23.3%18.7%12.5%-6.8%-18.4%-24.5%-18.1%
Return on assets12.2%0.5%-5.4%-12.1%-10.1%-9.1%-8.0%
Return on equity35.2%1.7%-19.0%-38.9%-27.0%-17.1%30.7%
Debt / equity1.79×2.48×0.67×————

Computed from company filings · US · as of 2025-06-30. Facts plus Stocktoria's own computed scores — not investment advice.