Stock Analysis
Affirm Holdings, Inc. Class A Common StockAFRM
P/E 65.30×· 5Y range 41.51–117.96×· 43th percentile of history
Sector: Financial Services · Industry: Personal Credit Institutions
AnalystsStrong Buy41 analystsP/E 65.3× sits at the 43rd percentile of its 5.065023956194388-year history.
PMP Verdict
Weak fundamentals
Risks
- Financial Health38
- Quality40
Weak fundamentals — valuation is the only support.
Market context
-3.4% today· Z 0.9σ
Bull Case
- ✓Revenue CAGR 33.3% — durable top-line growth
What's happening with AFRM
Profile
moat, financial health, earnings quality, valuation and profitability lag behind.
How is each axis scored?
- Valuation46/100 · Weak
- P/E vs own history (43th pct)12/25
- FCF yield (3.2%)12/25
- P/S (6.2x)12/25
- EV/EBIT (n/a)10/25
- Growth50/100 · Moderate
- Revenue CAGR (33.3%)25/25
- Net income CAGR (n/a)0/25
- EPS CAGR 5Y (n/a)0/25
- Fwd implied growth (97.0%)25/25
- Profitability49/100 · Weak
- ROIC (12.8%)12/25
- ROE (10.8%)12/25
- Net margin (9.6%)13/25
- Operating margin (8.3%)12/25
- Financial Health38/100 · Weak
- Altman Z (1.58)10/25
- Current ratio (4.16)25/25
- Interest coverage (0.9x)3/25
- Net cash / debt (n/a)0/25
- Quality40/100 · Weak
- Piotroski F (5/9)15/25
- Beneish M (1.98)0/25
- FCF conversion (206%)25/25
- Margin stability (σ 30.9%)0/25
- Moat5/100 · Weak
- ROIC >12% years (0/5 yrs)0/25
- Median gross margin (-35.0%)0/25
- FCF-positive years (3/6 yrs)5/25
- Worst-year net margin (worst -62.1%)0/25
Risk Flags
- ⚠Altman Z 1.6 — distress-zone balance sheet
- ⚠Beneish M 1.98 — earnings-manipulation flag
- ⚠SBC 7.6% of revenue — real dilution cost
- ⚠4 loss-making years in recent history
- ⚠Interest coverage 0.9× — thin debt cushion
About Affirm Holdings, Inc. Class A Common Stock
Founded in 2012, Affirm is a market leader in the buy now, pay later space with around $36 billion in transaction volume in fiscal 2025. Show more
Affirm offers both zero-interest financing, which is merchant-subsidized, and interest-bearing loans, which function as personal loans that are approved on a per-transaction basis. Over 70% of Affirm's transaction volume comes from its interest-bearing loans, which also constitute the majority of its revenue. Affirm primarily operates in the United States, which accounted for more than 95% of its revenue in 2025, but it has also expanded to Canada and the United Kingdom.
Headquarters: SAN FRANCISCO, CA · Employees: 2,358 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
46D+P/E (TTM)64.7xD
Grade D: ExpensivePrice / TTM EPS (own statements) — vs own 5Y history: 41.5x–118.0x · 43rd pct
P/FCF25.8xB
Grade B: FairPrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative
FCF Yield3.2%C
Grade C: LowTTM (OCF − CapEx) / Market Cap — vs own 5Y history: -22.3%–5.3% · 81st pct
P/S (TTM)6.23xC
Grade C: ExpensivePrice / TTM Revenue (own statements) — vs own 5Y history: 1.8x–52.6x · 58th pct
EV/EBITDA46.8xD
Grade D: ExpensiveEnterprise value / EBITDA (Finnhub) — capital-structure neutral
EV/Sales7.9xC
Grade C: ExpensiveEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E32.8xC
Grade C: ExpensivePrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio6.98xC
Grade C: ExpensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio—
Finnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield—
TTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio—
Dividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Profitability
49D+ROIC12.8%C
Grade C: AverageNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE10.8%C
Grade C: AverageReturn on Equity. Neg. equity = heavy buybacks
ROA14.5%A
Grade A: StrongReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin9.6%C
Grade C: AverageNet Income / Revenue
Operating Margin8.3%D
Grade D: LowTTM EBIT / TTM Revenue
Gross Margin8.3%D
Grade D: LowGross Profit / Revenue
FCF Margin19.8%A
Grade A: HighFCF / Revenue
True FCF Margin12.2%A
Grade A: HighTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost
Growth
50CRevenue CAGR33.3%A
Grade A: HighCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR—
Compound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)—
Compound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth97.0%A
Grade A: HighAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)+111.9%D
Grade D: DilutiveShare count change over 5Y
SBC / Net Income79.2%D
Grade D: HighStock-based comp/Net income. >30% = dilution risk
SBC / Revenue7.6%C
Grade C: MedTTM stock-based comp / TTM Revenue
Financial Health
38DAltman Z-Score1.58D
Grade D: DistressBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio4.16xA
Grade A: HighCurrent Assets/Liabilities
Quick Ratio4.16xA
Grade A: High(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage0.9xD
Grade D: RiskyEBIT/Interest. >10 Strong
Debt Repayment—
Years to repay net debt via FCF
Net Debt/EBIT—
Leverage. <2x Low, >4x High
Debt/Equity1.79xC
Grade C: MedDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt—
Cash covers how much of total debt. >1 = could repay all debt from cash
Quality
40D+Piotroski F-Score5/9C
Grade C: AverageFinancial strength 0–9. >7 Strong
Beneish M-Score1.98D
Grade D: RiskyEarnings manipulation risk. < -2.22 Safe
FCF Conversion205.8%A
Grade A: StrongFCF / Net Income
Margin Stability30.9%D
Grade D: VolatileEBIT margin std deviation. Lower = stable
Capex / Revenue5.6%C
Grade C: AverageTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.32xD
Grade D: LowRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
O'Hare Robert Filed | O'Hare Robert | Option exercise | -5636 | |
O'Hare Robert Filed | O'Hare Robert | Option exercise | -8991 | |
O'Hare Robert Filed | O'Hare Robert | Option exercise | -21836 | |
O'Hare Robert Filed | O'Hare Robert | Option exercise | -10239 | |
O'Hare Robert Filed | O'Hare Robert | Option exercise | -17023 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
O'Hare Robert Filed | O'Hare Robert | Option exercise | -1866 | |
O'Hare Robert Filed | O'Hare Robert | SellOpen market sale | -65591 | |
O'Hare Robert Filed | O'Hare Robert | Option exercise | +5.6K |
Option exercise (M) rows report a derivative leg, not an open-market sale — a paired negative entry is the option position being consumed.
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
5EROIC >12% Years0/5 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)-35.0%D
Grade D: WeakMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years3/6 yrsD
Grade D: WeakShare of completed fiscal years with positive free cash flow
Net Margin Floor-62.1%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$1.13
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$4.83
Cash & short-term investments per share (Finnhub)
Book Value / Share$16.26
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt—
Total debt obligations (short + long term)
Cash & Equiv.$1.53B
Cash and short-term investments
Net Debt—
Total Debt minus Cash. Negative = Net Cash position
Total Equity$3.55B
Shareholders' equity (book value)
Asset / Liability1.38xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$24.75B
Current Market Capitalization
Beta3.78D
Grade D: High volatilityPrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 16, 2026
Key Insights: Affirm Holdings, Inc. Class A Common Stock (AFRM)
AFRM is down 3.39% in after-hours trading. Piotroski F-Score of 5/9 indicates mixed fundamentals for Affirm Holdings, Inc. Class A Common Stock. Altman Z-Score of 1.58 is below the 1.81 distress threshold — an elevated financial-risk flag. Beneish M-Score of 1.98 is above the −1.78 flag threshold, a signal that reported earnings warrant closer scrutiny.
- Revenue has compounded at roughly 33% annually — a strong growth profile.
- Affirm Holdings, Inc. Class A Common Stock converts about 20% of revenue into free cash flow — strong cash generation.
- Interest coverage of 0.9× leaves little room for earnings shocks.
- Affirm Holdings, Inc. Class A Common Stock posted a net loss in 4 of 6 available completed fiscal years (2021–2026).
See how AFRM ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all AFRM moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 14 | Regular | 70.01 | -10.12% | -3.73 |
| Oct 14 | After-hours | 69.88 | -10.28% | -3.79 |
Frequently Asked Questions about AFRM
What is the current Affirm Holdings, Inc. Class A Common Stock (AFRM) stock price?
AFRM is trading at $73.35 in after-hours trading, down 3.39% on the session. PreMarketPrice tracks AFRM pre-market, intraday and after-hours prices.
Is AFRM stock a buy right now?
PreMarketPrice's quantitative model rates Affirm Holdings, Inc. Class A Common Stock's financial health at 38/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is AFRM stock overvalued?
Affirm Holdings, Inc. Class A Common Stock trades at a trailing P/E of 64.7 and our valuation score rates it 46/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Affirm Holdings, Inc. Class A Common Stock report earnings?
No confirmed earnings date is currently scheduled for AFRM. The Earnings section lists recent reports and updates as dates are announced.
What sector does Affirm Holdings, Inc. Class A Common Stock operate in?
Affirm Holdings, Inc. Class A Common Stock operates in the Financial Services sector, within the Personal Credit Institutions industry. The Related Stocks section lists sector peers for comparison.
What does Affirm Holdings, Inc. Class A Common Stock do?
Founded in 2012, Affirm is a market leader in the buy now, pay later space with around $36 billion in transaction volume in fiscal 2025.
About Affirm Holdings, Inc. Class A Common Stock (AFRM) Stock
Affirm Holdings, Inc. Class A Common Stock (AFRM) is a US-listed stock operating in the Financial Services sector, specifically the Personal Credit Institutions industry. As of the latest update, Affirm Holdings, Inc. Class A Common Stock is trading at $73.35, down 3.39% on the day with a market capitalization of $24.8 billion. The financial health score for AFRM is 38/100, which indicates weak financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for AFRM stock.
AFRM Stock Analysis & Key Metrics
On PreMarketPrice, you can track Affirm Holdings, Inc. Class A Common Stock (AFRM) across multiple dimensions:
- Pre-market price & movement: Real-time AFRM stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for AFRM with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Affirm Holdings, Inc. Class A Common Stock across multiple reporting periods.
- Financial health score: A composite score of 38/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for AFRM.
- Sector peers: Compare AFRM against 4 other financial services stocks on key financial metrics.
Is AFRM a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Affirm Holdings, Inc. Class A Common Stock (AFRM) as an investment. The financial health score of 38/100 suggests weak financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Affirm Holdings, Inc. Class A Common Stock (AFRM) trades on NYSE. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.