Affirm Holdings, Inc.
AFRM · Price history
Price at last available close
$72.68
+$5.47 (+8.14%) 1M
2026-10-27
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Company & revenue
About Affirm Holdings, Inc.
Primary reporting period: 2026-06-30 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Affirm Holdings, Inc. provides a digital and mobile-first commerce platform that operates across the United States and Canada. This platform offers consumers a point-of-sale financing solution, delivers various tools for merchants, and includes a dedicated mobile application for users. Leveraging its payment network and partnerships with originating banks, the company enables customers to spread the cost of their purchases over time, with payment terms ranging from a single month up to forty-eight months.
How they make money
Affirm offers buy-now-pay-later installment financing and related payment services to consumers and merchants. Its fiscal 2026 Form 10-K describes revenue from merchant network fees, interest income and other payment and servicing activities. Merchant partnerships drive transaction volume, while credit performance, funding arrangements and underwriting determine whether growth converts into sustainable profitability.
Brands & revenue mix
Primary brand for point-of-sale lending and payment network services.
Stored revenue share; calculation basis not supplied. Period: 2026-06-30.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer categories were not separately identified in the reviewed source set.
Customer concentration
The company discloses that a large percentage of its revenue and GMV is concentrated with a small number of merchant partners and commerce platforms as of the fiscal year ended June 30, 2026.
Business relationships & partnerships
- Amazon.com Services LLC — Strategic partnership involving the integration of Affirm's payment options on Amazon's platform.Source
Strengths
- Merchant and consumer payment network — Research interpretation: checkout integrations and repeat consumer usage can increase transaction opportunities; network scale alone does not establish credit profitability.Source
Risks
- Credit losses and funding costs — Research interpretation: borrower defaults, interest rates, funding access and merchant concentration can affect unit economics and cash flow.Source
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
62
Fair
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
61
Fair
Financial Strength
39
Business Quality / Moat
100
Management
69
Growth Quality
56
Risk / Durability
25
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
82
Attractive
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
79/100
Building Historical Record
Model Score 79/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is mixed across its combined quality, valuation and risk inputs. Review the category scores to identify what is helping or hurting the result.
At today’s price, the WSS valuation framework currently reads as relatively attractive.
The model outlook is currently positive.
- •Valuation scores attractively
- •Debt service risk
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for AFRM
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can AFRM maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is AFRM's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is AFRM's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •Is AFRM's valuation discount tied to a temporary concern or to a longer-term business risk?
Essential Investment Snapshot
Wall Street Score
62
Opportunity Score
82
Market Cap
$21.69B
P/E Ratio
12.1
EPS
$5.71
52-Week High
$100.00
52-Week Low
$39.35
Beta
3.61
Intrinsic Value
$219.83
Analyst Target
$97.00
Shares Outstanding
348.8M
Total Revenue
$4.18B
Total Debt
$9.82B
Dividend
No current dividend
Liquidation Value / Share
$15.72
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
Normal movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for AFRM
Detected from reported data — verify before acting.Debt service risk
Interest coverage is low (~1.9x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total callsNo personal call yet on AFRM.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Research interpretation: checkout integrations and repeat consumer usage can increase transaction opportunities.
- +network scale alone does not establish credit profitability.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Financial - Credit Services industry.
- −Research interpretation: borrower defaults, interest rates, funding access and merchant concentration can affect unit economics and cash flow.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
5 historical score records availablePrevious Score
62
Sep 8, 2026
Change
+0.8
points
Current Score
62
Oct 1, 2026
Category Changes
AFRM increased 0.8 points because Capital improved by 2 points.
Positive Contributors
- + Capital improved by 2 points
Projected Score
Projected Score
70
Projected Change
+7.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 7.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Review model assumptionsThis model estimate is more than three times the share price.
This is a formula-based estimate, not a verified fair value or price target. Check the earnings and growth assumptions.
Stored EPS: $5.71 · Growth assumption: 15.0% · Earnings multiplier: 38.5×.
Current Price
$72.68
Model Intrinsic Value
$219.83
Difference
−$147.15
-66.9% vs IV
Margin of Safety
66.9%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.18B | $3.95B | $3.22B | $2.32B | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $1.33B | $1.22B | $1.05B | $845.1M | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $2.85B | $2.73B | $2.18B | $1.48B | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $920.8M | $920.8M | $979.9M | $1.10B | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $2.20B | $1.86B | $2.26B | $2.09B | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $1.25B | $1.25B | $712.0M | -$2.2M | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $648.8M | $870.9M | -$87.3M | -$615.8M | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $454.1M | $453.6M | $425.5M | $344.3M | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $492.7M | $492.7M | $61.5M | -$515.5M | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | -$1.44B | -$1.44B | $9.3M | $2.2M | ···· | ···· | ···· | ···· | ···· |
| Net Income | $1.93B | $1.93B | $52.2M | -$517.8M | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $5.71 | $5.76 | $0.16 | $-1.67 | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 339M | 335M | 323M | 310M | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 350M | 349M | 341M | 310M | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$1.09B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$4.62
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+25.1%
Cash Change
+79.6%
Margin Change
+140.5 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
What Weakened
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, net income margin. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 24.3%. EPS increased 2210.0%. Cash increased 79.6%. Total debt increased 25.1%. Net income margin improved by 140.5 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
40
Smart Money
40
Number of Gurus
1
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
5 historical recordsHistorical Score Chart
3 of 5 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · AFRM
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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