Reading the tape
NASDAQ: AFRM
Affirm Holdings, Inc.
Technology · Software - Infrastructure
Market Cap
$22.54B
52w High
$100.00
52w Low
$42.10
P/E
80.11
Volume
2.77M
Outstanding Shares
333.11M
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 30.34%Revenue (TTM): 32.7%FCF (TTM): 1%P/FCF: 63rd pct
What changed
The stock rose 30.34% over the last year. Revenue grew 32.7% over the trailing twelve months. Operating margin moved from -13.26% to 6.22%. Free cash flow grew 1% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (63rd percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 6.22% — continued expansion would be needed to justify the premium. Revenue growth of 32.7% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
Affirm Holdings, Inc. operates a platform for digital and mobile-first commerce in the United States and Canada.
CEOMax Roth Levchin
SectorTechnology
IndustrySoftware - Infrastructure
Employees2,006
IPO dateJan 13, 2021
Valuation
Forward P/E—
EV/EBITDA40.48
Enterprise value$28.82B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth29.62%
Gross margin67.72%▲6.12%vs FY2024
Operating margin6.22%▲89.79%vs FY2024
ROE1.7%▲108.97%vs FY2024
Analyst consensus
RatingBuy
Target price$80.77▲19.35%
22
Buy
10
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 7, 2026
Q2 FY26 · EPS est $0.17 · Revenue est $995.13M
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