AFRMNasdaqPersonal Credit InstitutionsFiscal year ends June 30
Affirm Holdings, Inc.
Financials through Q4 FY2026, quarter ended Jun 30, 2026Last filing: 10-K on Aug 27, 2026
$72.80−1.21 (-1.63%)
Close on Oct 19, 2026
- Market cap
- $25.46B
- P/E (TTM)
- 13.2
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2026
Operating margin
9.8%+53.9 pts over 5 years
Net margin
45.3%+96.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +32.2% | +39.0% | +37.4% | – | |
| Net income | +3597.9% | – | – | – | |
| EPS, diluted | +3586.7% | – | – | – | |
| Free cash flow | +65.0% | – | – | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | -39.9% | 45.1% | |
| Return on assets | – | -14.1% | 14.3% | |
| Interest coverage | – | -7.3× | 0.9× | |
| Capex to revenue | – | 2.3% | 5.6% | |
| Diluted shares | – | 159M | 349M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Affirm generated $2.65B from operations and spent $1.05B on capital expenditure, dividends and share buybacks. 76% of that went back into the business.
Generated
$2.65B
Used
$1.05B
Capital expenditure$796.90M76%Dividends$00%Share buybacks$250.20M24%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin45.3%
×Asset turnover0.32×
×Equity multiplier3.15×
=Return on equity, FY202645.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 45.3% | 0.32× | 3.15× | 45.1% |
| FY2025 | 1.6% | 0.31× | 3.56× | 1.8% |
| FY2024 | -22.3% | 0.26× | 3.36× | -19.7% |
| FY2023 | -62.1% | 0.21× | 2.94× | -38.2% |
| FY2022 | -52.4% | 0.23× | 2.28× | -27.2% |
| FY2021 | -50.7% | 0.28× | 2.84× | -39.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
4of 6 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$1.93B
- Cash generatingOperating cash flow above zero$1.23B
- Return on assets improvedROA up on the prior year0.5% → 17.3%
- Earnings backed by cashOperating cash flow above net income$1.23B vs $1.93B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise341M → 349M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.34 → 0.38