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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and AdvanSix Inc. (ASIX). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $359.9M, roughly 1.1× AdvanSix Inc.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs -0.8%, a 33.1% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 9.4%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $36.1M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs 3.4%).
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.
AdvanSix Inc. is an American chemical company that produces nylon 6 and related chemicals such as caprolactam and ammonium sulfate fertilizers. It operated as Honeywell's Resins and Chemicals division until 2016, when it was spun off as a separate company. The unit accounted for 3 percent of Honeywell's sales at the time. For 2019, revenue is estimated at $1.4 billion. The company traces its lineage to the H. W. Jayne Company, established 1884 in Frankford, Pennsylvania.
AFRM vs ASIX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $359.9M |
| Net Profit | $129.6M | $-2.8M |
| Gross Margin | — | 7.6% |
| Operating Margin | 29.3% | -0.7% |
| Net Margin | 32.3% | -0.8% |
| Revenue YoY | 32.5% | 9.4% |
| Net Profit YoY | 61.3% | -892.9% |
| EPS (diluted) | $0.37 | $-0.11 |
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 | $359.9M | ||
| Q3 25 | $320.5M | $374.5M | ||
| Q2 25 | $306.6M | $410.0M | ||
| Q1 25 | $272.5M | $377.8M | ||
| Q4 24 | $303.0M | $329.1M | ||
| Q3 24 | $231.8M | $398.2M | ||
| Q2 24 | $224.0M | $453.5M | ||
| Q1 24 | $195.0M | $336.8M |
| Q4 25 | $129.6M | $-2.8M | ||
| Q3 25 | $80.7M | $-2.6M | ||
| Q2 25 | $69.2M | $31.4M | ||
| Q1 25 | $2.8M | $23.3M | ||
| Q4 24 | $80.4M | $352.0K | ||
| Q3 24 | $-100.2M | $22.3M | ||
| Q2 24 | $-45.1M | $38.9M | ||
| Q1 24 | $-133.9M | $-17.4M |
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | — | 17.9% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | 29.3% | -0.7% | ||
| Q3 25 | 19.9% | -0.9% | ||
| Q2 25 | 18.9% | 7.7% | ||
| Q1 25 | -3.1% | 7.7% | ||
| Q4 24 | -1.4% | -3.9% | ||
| Q3 24 | -57.2% | 7.5% | ||
| Q2 24 | -32.8% | 11.5% | ||
| Q1 24 | -82.5% | -7.0% |
| Q4 25 | 32.3% | -0.8% | ||
| Q3 25 | 25.2% | -0.7% | ||
| Q2 25 | 22.6% | 7.7% | ||
| Q1 25 | 1.0% | 6.2% | ||
| Q4 24 | 26.5% | 0.1% | ||
| Q3 24 | -43.2% | 5.6% | ||
| Q2 24 | -20.2% | 8.6% | ||
| Q1 24 | -68.7% | -5.2% |
| Q4 25 | $0.37 | $-0.11 | ||
| Q3 25 | $0.23 | $-0.10 | ||
| Q2 25 | $0.22 | $1.15 | ||
| Q1 25 | $0.01 | $0.86 | ||
| Q4 24 | $0.23 | $0.02 | ||
| Q3 24 | $-0.31 | $0.82 | ||
| Q2 24 | $-0.13 | $1.43 | ||
| Q1 24 | $-0.43 | $-0.65 |
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 | $19.8M |
| Total DebtLower is stronger | $9.0B | — |
| Stockholders' EquityBook value | $3.5B | $815.2M |
| Total Assets | $13.0B | $1.7B |
| Debt / EquityLower = less leverage | 2.54× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $19.8M | ||
| Q3 25 | $1.4B | $23.7M | ||
| Q2 25 | $1.4B | $18.4M | ||
| Q1 25 | $1.4B | $8.3M | ||
| Q4 24 | $1.2B | $19.6M | ||
| Q3 24 | $1.0B | $17.3M | ||
| Q2 24 | $1.0B | $12.1M | ||
| Q1 24 | $1.3B | $20.6M |
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $815.2M | ||
| Q3 25 | $3.3B | $818.2M | ||
| Q2 25 | $3.1B | $823.7M | ||
| Q1 25 | $2.9B | $794.4M | ||
| Q4 24 | $2.8B | $774.6M | ||
| Q3 24 | $2.8B | $766.4M | ||
| Q2 24 | $2.7B | $746.6M | ||
| Q1 24 | $2.6B | $713.2M |
| Q4 25 | $13.0B | $1.7B | ||
| Q3 25 | $11.5B | $1.7B | ||
| Q2 25 | $11.2B | $1.6B | ||
| Q1 25 | $10.4B | $1.6B | ||
| Q4 24 | $10.5B | $1.6B | ||
| Q3 24 | $10.1B | $1.5B | ||
| Q2 24 | $9.5B | $1.5B | ||
| Q1 24 | $9.2B | $1.5B |
| Q4 25 | 2.54× | — | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 2.49× | — | ||
| Q4 24 | 2.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | — | — |
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 | $63.7M |
| Free Cash FlowOCF − Capex | $118.0M | $36.1M |
| FCF MarginFCF / Revenue | 29.4% | 10.0% |
| Capex IntensityCapex / Revenue | 13.9% | 7.7% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $6.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $63.7M | ||
| Q3 25 | $374.6M | $26.6M | ||
| Q2 25 | $74.6M | $21.1M | ||
| Q1 25 | $210.4M | $11.4M | ||
| Q4 24 | $312.0M | $64.2M | ||
| Q3 24 | $196.9M | $57.3M | ||
| Q2 24 | $68.8M | $50.2M | ||
| Q1 24 | $208.2M | $-36.2M |
| Q4 25 | $118.0M | $36.1M | ||
| Q3 25 | $320.2M | $66.0K | ||
| Q2 25 | $23.5M | $-7.2M | ||
| Q1 25 | $157.4M | $-22.6M | ||
| Q4 24 | $268.1M | $29.8M | ||
| Q3 24 | $152.7M | $26.8M | ||
| Q2 24 | $30.5M | $16.7M | ||
| Q1 24 | $161.7M | $-71.6M |
| Q4 25 | 29.4% | 10.0% | ||
| Q3 25 | 99.9% | 0.0% | ||
| Q2 25 | 7.7% | -1.7% | ||
| Q1 25 | 57.7% | -6.0% | ||
| Q4 24 | 88.5% | 9.1% | ||
| Q3 24 | 65.9% | 6.7% | ||
| Q2 24 | 13.6% | 3.7% | ||
| Q1 24 | 82.9% | -21.3% |
| Q4 25 | 13.9% | 7.7% | ||
| Q3 25 | 17.0% | 7.1% | ||
| Q2 25 | 16.7% | 6.9% | ||
| Q1 25 | 19.5% | 9.0% | ||
| Q4 24 | 14.5% | 10.4% | ||
| Q3 24 | 19.0% | 7.7% | ||
| Q2 24 | 17.1% | 7.4% | ||
| Q1 24 | 23.8% | 10.5% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | 0.67× | ||
| Q1 25 | 75.03× | 0.49× | ||
| Q4 24 | 3.88× | 182.29× | ||
| Q3 24 | — | 2.57× | ||
| Q2 24 | — | 1.29× | ||
| 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% |
ASIX
| Plant Nutrients | $140.0M | 39% |
| Chemical Intermediates | $92.8M | 26% |
| Caprolactam | $64.4M | 18% |
| Nylon Resins | $62.8M | 17% |
