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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and BRIGHT HORIZONS FAMILY SOLUTIONS INC. (BFAM). Click either name above to swap in a different company.
BRIGHT HORIZONS FAMILY SOLUTIONS INC. is the larger business by last-quarter revenue ($733.7M vs $401.4M, roughly 1.8× Affirm Holdings, Inc.). On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 8.8%). BRIGHT HORIZONS FAMILY SOLUTIONS INC. produced more free cash flow last quarter ($258.5M vs $118.0M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs 8.5%).
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.
Bright Horizons Family Solutions Inc. is a United States–based child-care provider and is the largest provider of employer-sponsored child care. It also provides back-up child care and elder care, tuition program management, education advising, and student loan repayment programs. It is headquartered in Newton, Massachusetts.
AFRM vs BFAM — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $733.7M |
| Net Profit | $129.6M | — |
| Gross Margin | — | 19.3% |
| Operating Margin | 29.3% | 6.2% |
| Net Margin | 32.3% | — |
| Revenue YoY | 32.5% | 8.8% |
| Net Profit YoY | 61.3% | — |
| EPS (diluted) | $0.37 | $0.38 |
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 | $733.7M | ||
| Q3 25 | $320.5M | $802.8M | ||
| Q2 25 | $306.6M | $731.6M | ||
| Q1 25 | $272.5M | $665.5M | ||
| Q4 24 | $303.0M | $674.1M | ||
| Q3 24 | $231.8M | $719.1M | ||
| Q2 24 | $224.0M | $670.1M | ||
| Q1 24 | $195.0M | $622.7M |
| Q4 25 | $129.6M | — | ||
| Q3 25 | $80.7M | $78.6M | ||
| Q2 25 | $69.2M | $54.8M | ||
| Q1 25 | $2.8M | $38.0M | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $-100.2M | $54.9M | ||
| Q2 24 | $-45.1M | $39.2M | ||
| Q1 24 | $-133.9M | $17.0M |
| Q4 25 | — | 19.3% | ||
| Q3 25 | — | 27.0% | ||
| Q2 25 | — | 25.0% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | — | 25.2% | ||
| Q2 24 | — | 24.2% | ||
| Q1 24 | — | 21.7% |
| Q4 25 | 29.3% | 6.2% | ||
| Q3 25 | 19.9% | 15.1% | ||
| Q2 25 | 18.9% | 11.8% | ||
| Q1 25 | -3.1% | 9.4% | ||
| Q4 24 | -1.4% | 7.2% | ||
| Q3 24 | -57.2% | 12.4% | ||
| Q2 24 | -32.8% | 10.3% | ||
| Q1 24 | -82.5% | 6.4% |
| Q4 25 | 32.3% | — | ||
| Q3 25 | 25.2% | 9.8% | ||
| Q2 25 | 22.6% | 7.5% | ||
| Q1 25 | 1.0% | 5.7% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | -43.2% | 7.6% | ||
| Q2 24 | -20.2% | 5.8% | ||
| Q1 24 | -68.7% | 2.7% |
| Q4 25 | $0.37 | $0.38 | ||
| Q3 25 | $0.23 | $1.37 | ||
| Q2 25 | $0.22 | $0.95 | ||
| Q1 25 | $0.01 | $0.66 | ||
| Q4 24 | $0.23 | $0.50 | ||
| Q3 24 | $-0.31 | $0.94 | ||
| Q2 24 | $-0.13 | $0.67 | ||
| Q1 24 | $-0.43 | $0.29 |
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 | $140.1M |
| Total DebtLower is stronger | $9.0B | $747.6M |
| Stockholders' EquityBook value | $3.5B | $1.3B |
| Total Assets | $13.0B | $3.9B |
| Debt / EquityLower = less leverage | 2.54× | 0.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $140.1M | ||
| Q3 25 | $1.4B | $116.6M | ||
| Q2 25 | $1.4B | $179.2M | ||
| Q1 25 | $1.4B | $112.0M | ||
| Q4 24 | $1.2B | $110.3M | ||
| Q3 24 | $1.0B | $109.9M | ||
| Q2 24 | $1.0B | $140.2M | ||
| Q1 24 | $1.3B | $63.7M |
| Q4 25 | $9.0B | $747.6M | ||
| Q3 25 | $7.7B | $747.5M | ||
| Q2 25 | $7.6B | $797.0M | ||
| Q1 25 | $7.1B | $872.7M | ||
| Q4 24 | $7.3B | $918.4M | ||
| Q3 24 | — | $925.7M | ||
| Q2 24 | $1.8B | $931.9M | ||
| Q1 24 | — | $938.1M |
| Q4 25 | $3.5B | $1.3B | ||
| Q3 25 | $3.3B | $1.4B | ||
| Q2 25 | $3.1B | $1.4B | ||
| Q1 25 | $2.9B | $1.3B | ||
| Q4 24 | $2.8B | $1.3B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $2.7B | $1.3B | ||
| Q1 24 | $2.6B | $1.2B |
| Q4 25 | $13.0B | $3.9B | ||
| Q3 25 | $11.5B | $3.9B | ||
| Q2 25 | $11.2B | $3.9B | ||
| Q1 25 | $10.4B | $3.8B | ||
| Q4 24 | $10.5B | $3.9B | ||
| Q3 24 | $10.1B | $3.9B | ||
| Q2 24 | $9.5B | $3.8B | ||
| Q1 24 | $9.2B | $3.8B |
| Q4 25 | 2.54× | 0.56× | ||
| Q3 25 | 2.35× | 0.52× | ||
| Q2 25 | 2.48× | 0.57× | ||
| Q1 25 | 2.49× | 0.66× | ||
| Q4 24 | 2.62× | 0.72× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | 0.67× | 0.73× | ||
| Q1 24 | — | 0.76× |
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 | $350.7M |
| Free Cash FlowOCF − Capex | $118.0M | $258.5M |
| FCF MarginFCF / Revenue | 29.4% | 35.2% |
| Capex IntensityCapex / Revenue | 13.9% | 12.6% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $402.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $350.7M | ||
| Q3 25 | $374.6M | $-17.6M | ||
| Q2 25 | $74.6M | $134.2M | ||
| Q1 25 | $210.4M | $86.2M | ||
| Q4 24 | $312.0M | $337.5M | ||
| Q3 24 | $196.9M | $-8.9M | ||
| Q2 24 | $68.8M | $109.4M | ||
| Q1 24 | $208.2M | $116.3M |
| Q4 25 | $118.0M | $258.5M | ||
| Q3 25 | $320.2M | $-42.4M | ||
| Q2 25 | $23.5M | $115.4M | ||
| Q1 25 | $157.4M | $70.9M | ||
| Q4 24 | $268.1M | $240.2M | ||
| Q3 24 | $152.7M | $-32.2M | ||
| Q2 24 | $30.5M | $86.8M | ||
| Q1 24 | $161.7M | $96.9M |
| Q4 25 | 29.4% | 35.2% | ||
| Q3 25 | 99.9% | -5.3% | ||
| Q2 25 | 7.7% | 15.8% | ||
| Q1 25 | 57.7% | 10.7% | ||
| Q4 24 | 88.5% | 35.6% | ||
| Q3 24 | 65.9% | -4.5% | ||
| Q2 24 | 13.6% | 13.0% | ||
| Q1 24 | 82.9% | 15.6% |
| Q4 25 | 13.9% | 12.6% | ||
| Q3 25 | 17.0% | 3.1% | ||
| Q2 25 | 16.7% | 2.6% | ||
| Q1 25 | 19.5% | 2.3% | ||
| Q4 24 | 14.5% | 14.4% | ||
| Q3 24 | 19.0% | 3.2% | ||
| Q2 24 | 17.1% | 3.4% | ||
| Q1 24 | 23.8% | 3.1% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | -0.22× | ||
| Q2 25 | 1.08× | 2.45× | ||
| Q1 25 | 75.03× | 2.26× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | -0.16× | ||
| Q2 24 | — | 2.79× | ||
| Q1 24 | — | 6.85× |
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% |
BFAM
Segment breakdown not available.
