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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and EDGEWELL PERSONAL CARE Co (EPC). Click either name above to swap in a different company.
EDGEWELL PERSONAL CARE Co is the larger business by last-quarter revenue ($422.8M vs $401.4M, roughly 1.1× Affirm Holdings, Inc.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs -15.5%, a 47.8% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs -11.6%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $-137.5M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs -16.0%).
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.
The Edgewell Personal Care Company is an American multinational consumer products company headquartered in Shelton, Connecticut. It was formed in 2015 following the corporate spin-off from Energizer Holdings, Inc..
AFRM vs EPC — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $422.8M |
| Net Profit | $129.6M | $-65.7M |
| Gross Margin | — | 38.1% |
| Operating Margin | 29.3% | -4.5% |
| Net Margin | 32.3% | -15.5% |
| Revenue YoY | 32.5% | -11.6% |
| Net Profit YoY | 61.3% | -3028.6% |
| EPS (diluted) | $0.37 | $-1.41 |
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 | $422.8M | ||
| Q3 25 | $320.5M | $600.5M | ||
| Q2 25 | $306.6M | $627.2M | ||
| Q1 25 | $272.5M | $580.7M | ||
| Q4 24 | $303.0M | $415.1M | ||
| Q3 24 | $231.8M | $517.6M | ||
| Q2 24 | $224.0M | $647.8M | ||
| Q1 24 | $195.0M | $599.4M |
| Q4 25 | $129.6M | $-65.7M | ||
| Q3 25 | $80.7M | $-30.6M | ||
| Q2 25 | $69.2M | $29.1M | ||
| Q1 25 | $2.8M | $29.0M | ||
| Q4 24 | $80.4M | $-2.1M | ||
| Q3 24 | $-100.2M | $8.8M | ||
| Q2 24 | $-45.1M | $49.0M | ||
| Q1 24 | $-133.9M | $36.0M |
| Q4 25 | — | 38.1% | ||
| Q3 25 | — | 37.9% | ||
| Q2 25 | — | 42.8% | ||
| Q1 25 | — | 44.1% | ||
| Q4 24 | — | 41.6% | ||
| Q3 24 | — | 41.1% | ||
| Q2 24 | — | 44.3% | ||
| Q1 24 | — | 43.1% |
| Q4 25 | 29.3% | -4.5% | ||
| Q3 25 | 19.9% | -4.2% | ||
| Q2 25 | 18.9% | 8.6% | ||
| Q1 25 | -3.1% | 10.1% | ||
| Q4 24 | -1.4% | 2.2% | ||
| Q3 24 | -57.2% | 3.9% | ||
| Q2 24 | -32.8% | 12.8% | ||
| Q1 24 | -82.5% | 11.7% |
| Q4 25 | 32.3% | -15.5% | ||
| Q3 25 | 25.2% | -5.1% | ||
| Q2 25 | 22.6% | 4.6% | ||
| Q1 25 | 1.0% | 5.0% | ||
| Q4 24 | 26.5% | -0.5% | ||
| Q3 24 | -43.2% | 1.7% | ||
| Q2 24 | -20.2% | 7.6% | ||
| Q1 24 | -68.7% | 6.0% |
| Q4 25 | $0.37 | $-1.41 | ||
| Q3 25 | $0.23 | $-0.65 | ||
| Q2 25 | $0.22 | $0.62 | ||
| Q1 25 | $0.01 | $0.60 | ||
| Q4 24 | $0.23 | $-0.04 | ||
| Q3 24 | $-0.31 | $0.18 | ||
| Q2 24 | $-0.13 | $0.98 | ||
| Q1 24 | $-0.43 | $0.72 |
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 | — |
| Total DebtLower is stronger | $9.0B | $1.5B |
| Stockholders' EquityBook value | $3.5B | $1.5B |
| Total Assets | $13.0B | $3.8B |
| Debt / EquityLower = less leverage | 2.54× | 1.03× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | $209.1M | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $9.0B | $1.5B | ||
| Q3 25 | $7.7B | $1.4B | ||
| Q2 25 | $7.6B | $1.4B | ||
| Q1 25 | $7.1B | $1.4B | ||
| Q4 24 | $7.3B | $1.4B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | $1.8B | $1.3B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | $3.5B | $1.5B | ||
| Q3 25 | $3.3B | $1.6B | ||
| Q2 25 | $3.1B | $1.6B | ||
| Q1 25 | $2.9B | $1.5B | ||
| Q4 24 | $2.8B | $1.5B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.6B | $1.6B |
| Q4 25 | $13.0B | $3.8B | ||
| Q3 25 | $11.5B | $3.8B | ||
| Q2 25 | $11.2B | $3.8B | ||
| Q1 25 | $10.4B | $3.8B | ||
| Q4 24 | $10.5B | $3.7B | ||
| Q3 24 | $10.1B | $3.7B | ||
| Q2 24 | $9.5B | $3.7B | ||
| Q1 24 | $9.2B | $3.8B |
| Q4 25 | 2.54× | 1.03× | ||
| Q3 25 | 2.35× | 0.89× | ||
| Q2 25 | 2.48× | 0.88× | ||
| Q1 25 | 2.49× | 0.95× | ||
| Q4 24 | 2.62× | 0.97× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 0.67× | 0.82× | ||
| Q1 24 | — | 0.88× |
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 | $-125.9M |
| Free Cash FlowOCF − Capex | $118.0M | $-137.5M |
| FCF MarginFCF / Revenue | 29.4% | -32.5% |
| Capex IntensityCapex / Revenue | 13.9% | 2.7% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $36.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $-125.9M | ||
| Q3 25 | $374.6M | $74.1M | ||
| Q2 25 | $74.6M | $114.8M | ||
| Q1 25 | $210.4M | $45.1M | ||
| Q4 24 | $312.0M | $-115.6M | ||
| Q3 24 | $196.9M | $-388.3M | ||
| Q2 24 | $68.8M | $101.2M | ||
| Q1 24 | $208.2M | $129.0M |
| Q4 25 | $118.0M | $-137.5M | ||
| Q3 25 | $320.2M | $46.5M | ||
| Q2 25 | $23.5M | $99.3M | ||
| Q1 25 | $157.4M | $28.0M | ||
| Q4 24 | $268.1M | $-132.4M | ||
| Q3 24 | $152.7M | $-414.2M | ||
| Q2 24 | $30.5M | $88.6M | ||
| Q1 24 | $161.7M | $117.5M |
| Q4 25 | 29.4% | -32.5% | ||
| Q3 25 | 99.9% | 7.7% | ||
| Q2 25 | 7.7% | 15.8% | ||
| Q1 25 | 57.7% | 4.8% | ||
| Q4 24 | 88.5% | -31.9% | ||
| Q3 24 | 65.9% | -80.0% | ||
| Q2 24 | 13.6% | 13.7% | ||
| Q1 24 | 82.9% | 19.6% |
| Q4 25 | 13.9% | 2.7% | ||
| Q3 25 | 17.0% | 4.6% | ||
| Q2 25 | 16.7% | 2.5% | ||
| Q1 25 | 19.5% | 2.9% | ||
| Q4 24 | 14.5% | 4.0% | ||
| Q3 24 | 19.0% | 5.0% | ||
| Q2 24 | 17.1% | 1.9% | ||
| Q1 24 | 23.8% | 1.9% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | 3.95× | ||
| Q1 25 | 75.03× | 1.56× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | -44.13× | ||
| Q2 24 | — | 2.07× | ||
| Q1 24 | — | 3.58× |
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% |
EPC
| Other | $242.0M | 57% |
| Sunand Skin Care Segment | $131.5M | 31% |
| Shavinggelsandcreams | $32.3M | 8% |
| Wipes And Other Skin Care Products | $17.0M | 4% |
