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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and ALLEGRO MICROSYSTEMS, INC. (ALGM). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $229.2M, roughly 1.8× ALLEGRO MICROSYSTEMS, INC.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 3.6%, a 28.7% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 28.9%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $41.3M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs -2.4%).
Affirm Holdings, Inc. is an American financial technology company and a point-of-sale lender. Founded in 2012 by PayPal co-founder Max Levchin, it is the largest U.S. based buy now, pay later (BNPL) financier. As of 2025, Affirm reports nearly 26 million users and processing $37 billion in annual payments.
Allegro MicroSystems, Inc. is a global semiconductor firm designing and manufacturing high-performance power and sensing integrated circuits. Its core products include magnetic sensors, power ICs, and motion control solutions, serving automotive, industrial, consumer electronics, and communications markets worldwide.
AFRM vs ALGM — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $229.2M |
| Net Profit | $129.6M | $8.3M |
| Gross Margin | — | 46.7% |
| Operating Margin | 29.3% | 4.2% |
| Net Margin | 32.3% | 3.6% |
| Revenue YoY | 32.5% | 28.9% |
| Net Profit YoY | 61.3% | 221.0% |
| EPS (diluted) | $0.37 | $0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $401.4M | $229.2M | ||
| Q3 25 | $320.5M | $214.3M | ||
| Q2 25 | $306.6M | $203.4M | ||
| Q1 25 | $272.5M | $192.8M | ||
| Q4 24 | $303.0M | $177.9M | ||
| Q3 24 | $231.8M | $187.4M | ||
| Q2 24 | $224.0M | $166.9M | ||
| Q1 24 | $195.0M | $240.6M |
| Q4 25 | $129.6M | $8.3M | ||
| Q3 25 | $80.7M | $6.5M | ||
| Q2 25 | $69.2M | $-13.2M | ||
| Q1 25 | $2.8M | $-14.8M | ||
| Q4 24 | $80.4M | $-6.9M | ||
| Q3 24 | $-100.2M | $-33.7M | ||
| Q2 24 | $-45.1M | $-17.7M | ||
| Q1 24 | $-133.9M | $-7.1M |
| Q4 25 | — | 46.7% | ||
| Q3 25 | — | 46.3% | ||
| Q2 25 | — | 44.9% | ||
| Q1 25 | — | 41.4% | ||
| Q4 24 | — | 45.7% | ||
| Q3 24 | — | 45.7% | ||
| Q2 24 | — | 44.8% | ||
| Q1 24 | — | 51.2% |
| Q4 25 | 29.3% | 4.2% | ||
| Q3 25 | 19.9% | 2.9% | ||
| Q2 25 | 18.9% | -1.3% | ||
| Q1 25 | -3.1% | -6.8% | ||
| Q4 24 | -1.4% | -0.0% | ||
| Q3 24 | -57.2% | 2.2% | ||
| Q2 24 | -32.8% | -6.4% | ||
| Q1 24 | -82.5% | 6.6% |
| Q4 25 | 32.3% | 3.6% | ||
| Q3 25 | 25.2% | 3.0% | ||
| Q2 25 | 22.6% | -6.5% | ||
| Q1 25 | 1.0% | -7.7% | ||
| Q4 24 | 26.5% | -3.9% | ||
| Q3 24 | -43.2% | -18.0% | ||
| Q2 24 | -20.2% | -10.6% | ||
| Q1 24 | -68.7% | -3.0% |
| Q4 25 | $0.37 | $0.04 | ||
| Q3 25 | $0.23 | $0.03 | ||
| Q2 25 | $0.22 | $-0.07 | ||
| Q1 25 | $0.01 | $-0.08 | ||
| Q4 24 | $0.23 | $-0.04 | ||
| Q3 24 | $-0.31 | $-0.18 | ||
| Q2 24 | $-0.13 | $-0.09 | ||
| Q1 24 | $-0.43 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5B | $155.2M |
| Total DebtLower is stronger | $9.0B | $280.7M |
| Stockholders' EquityBook value | $3.5B | $962.7M |
| Total Assets | $13.0B | $1.4B |
| Debt / EquityLower = less leverage | 2.54× | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $155.2M | ||
| Q3 25 | $1.4B | $117.5M | ||
| Q2 25 | $1.4B | $129.1M | ||
| Q1 25 | $1.4B | $121.3M | ||
| Q4 24 | $1.2B | $138.5M | ||
| Q3 24 | $1.0B | $188.8M | ||
| Q2 24 | $1.0B | $173.1M | ||
| Q1 24 | $1.3B | $212.1M |
| Q4 25 | $9.0B | $280.7M | ||
| Q3 25 | $7.7B | $280.4M | ||
| Q2 25 | $7.6B | $304.8M | ||
| Q1 25 | $7.1B | $338.9M | ||
| Q4 24 | $7.3B | $368.7M | ||
| Q3 24 | — | $393.0M | ||
| Q2 24 | $1.8B | $195.8M | ||
| Q1 24 | — | $245.1M |
| Q4 25 | $3.5B | $962.7M | ||
| Q3 25 | $3.3B | $944.2M | ||
| Q2 25 | $3.1B | $922.7M | ||
| Q1 25 | $2.9B | $929.6M | ||
| Q4 24 | $2.8B | $933.0M | ||
| Q3 24 | $2.8B | $937.3M | ||
| Q2 24 | $2.7B | $1.1B | ||
| Q1 24 | $2.6B | $1.1B |
| Q4 25 | $13.0B | $1.4B | ||
| Q3 25 | $11.5B | $1.4B | ||
| Q2 25 | $11.2B | $1.4B | ||
| Q1 25 | $10.4B | $1.4B | ||
| Q4 24 | $10.5B | $1.4B | ||
| Q3 24 | $10.1B | $1.5B | ||
| Q2 24 | $9.5B | $1.4B | ||
| Q1 24 | $9.2B | $1.5B |
| Q4 25 | 2.54× | 0.29× | ||
| Q3 25 | 2.35× | 0.30× | ||
| Q2 25 | 2.48× | 0.33× | ||
| Q1 25 | 2.49× | 0.36× | ||
| Q4 24 | 2.62× | 0.40× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | 0.67× | 0.18× | ||
| Q1 24 | — | 0.22× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $173.7M | $45.4M |
| Free Cash FlowOCF − Capex | $118.0M | $41.3M |
| FCF MarginFCF / Revenue | 29.4% | 18.0% |
| Capex IntensityCapex / Revenue | 13.9% | 1.8% |
| Cash ConversionOCF / Net Profit | 1.34× | 5.47× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $121.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $45.4M | ||
| Q3 25 | $374.6M | $20.4M | ||
| Q2 25 | $74.6M | $61.6M | ||
| Q1 25 | $210.4M | $20.4M | ||
| Q4 24 | $312.0M | $-8.2M | ||
| Q3 24 | $196.9M | $15.5M | ||
| Q2 24 | $68.8M | $34.2M | ||
| Q1 24 | $208.2M | $12.8M |
| Q4 25 | $118.0M | $41.3M | ||
| Q3 25 | $320.2M | $13.9M | ||
| Q2 25 | $23.5M | $51.0M | ||
| Q1 25 | $157.4M | $15.0M | ||
| Q4 24 | $268.1M | $-21.8M | ||
| Q3 24 | $152.7M | $5.6M | ||
| Q2 24 | $30.5M | $23.2M | ||
| Q1 24 | $161.7M | $-1.5M |
| Q4 25 | 29.4% | 18.0% | ||
| Q3 25 | 99.9% | 6.5% | ||
| Q2 25 | 7.7% | 25.1% | ||
| Q1 25 | 57.7% | 7.8% | ||
| Q4 24 | 88.5% | -12.3% | ||
| Q3 24 | 65.9% | 3.0% | ||
| Q2 24 | 13.6% | 13.9% | ||
| Q1 24 | 82.9% | -0.6% |
| Q4 25 | 13.9% | 1.8% | ||
| Q3 25 | 17.0% | 3.0% | ||
| Q2 25 | 16.7% | 5.2% | ||
| Q1 25 | 19.5% | 2.8% | ||
| Q4 24 | 14.5% | 7.7% | ||
| Q3 24 | 19.0% | 5.3% | ||
| Q2 24 | 17.1% | 6.6% | ||
| Q1 24 | 23.8% | 5.9% |
| Q4 25 | 1.34× | 5.47× | ||
| Q3 25 | 4.64× | 3.12× | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AFRM
| Merchant Network | $328.4M | 82% |
| Virtual Card Network | $73.0M | 18% |
| Commercial Agreement Amazon | $1.9M | 0% |
ALGM
| Automotive End Market | $164.5M | 72% |
| Industrial And Other End Market | $64.7M | 28% |
