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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and HighPeak Energy, Inc. (HPK). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $216.6M, roughly 1.9× HighPeak Energy, Inc.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs -11.6%, a 43.9% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs -23.3%). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs -13.2%).
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.
Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. The company serves over 7 million customers in the eastern United States. In 2024 it ranked as the 141st largest company in the United States – its highest-ever placement on the Fortune 500 list.
AFRM vs HPK — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $216.6M |
| Net Profit | $129.6M | $-25.2M |
| Gross Margin | — | — |
| Operating Margin | 29.3% | -7.6% |
| Net Margin | 32.3% | -11.6% |
| Revenue YoY | 32.5% | -23.3% |
| Net Profit YoY | 61.3% | -380.7% |
| EPS (diluted) | $0.37 | $-0.16 |
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 | $216.6M | ||
| Q3 25 | $320.5M | $188.9M | ||
| Q2 25 | $306.6M | $200.4M | ||
| Q1 25 | $272.5M | $257.4M | ||
| Q4 24 | $303.0M | $282.6M | ||
| Q3 24 | $231.8M | $271.6M | ||
| Q2 24 | $224.0M | $275.3M | ||
| Q1 24 | $195.0M | $287.8M |
| Q4 25 | $129.6M | $-25.2M | ||
| Q3 25 | $80.7M | $-18.3M | ||
| Q2 25 | $69.2M | $26.2M | ||
| Q1 25 | $2.8M | $36.3M | ||
| Q4 24 | $80.4M | $9.0M | ||
| Q3 24 | $-100.2M | $49.9M | ||
| Q2 24 | $-45.1M | $29.7M | ||
| Q1 24 | $-133.9M | $6.4M |
| Q4 25 | 29.3% | -7.6% | ||
| Q3 25 | 19.9% | 17.3% | ||
| Q2 25 | 18.9% | 21.7% | ||
| Q1 25 | -3.1% | 35.1% | ||
| Q4 24 | -1.4% | 26.1% | ||
| Q3 24 | -57.2% | 27.0% | ||
| Q2 24 | -32.8% | 31.7% | ||
| Q1 24 | -82.5% | 35.8% |
| Q4 25 | 32.3% | -11.6% | ||
| Q3 25 | 25.2% | -9.7% | ||
| Q2 25 | 22.6% | 13.1% | ||
| Q1 25 | 1.0% | 14.1% | ||
| Q4 24 | 26.5% | 3.2% | ||
| Q3 24 | -43.2% | 18.4% | ||
| Q2 24 | -20.2% | 10.8% | ||
| Q1 24 | -68.7% | 2.2% |
| Q4 25 | $0.37 | $-0.16 | ||
| Q3 25 | $0.23 | $-0.15 | ||
| Q2 25 | $0.22 | $0.19 | ||
| Q1 25 | $0.01 | $0.26 | ||
| Q4 24 | $0.23 | $0.06 | ||
| Q3 24 | $-0.31 | $0.35 | ||
| Q2 24 | $-0.13 | $0.21 | ||
| Q1 24 | $-0.43 | $0.05 |
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 | $162.1M |
| Total DebtLower is stronger | $9.0B | $1.2B |
| Stockholders' EquityBook value | $3.5B | $1.6B |
| Total Assets | $13.0B | $3.2B |
| Debt / EquityLower = less leverage | 2.54× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $162.1M | ||
| Q3 25 | $1.4B | $164.9M | ||
| Q2 25 | $1.4B | $21.9M | ||
| Q1 25 | $1.4B | $51.6M | ||
| Q4 24 | $1.2B | $86.6M | ||
| Q3 24 | $1.0B | $135.6M | ||
| Q2 24 | $1.0B | $157.9M | ||
| Q1 24 | $1.3B | $173.4M |
| Q4 25 | $9.0B | $1.2B | ||
| Q3 25 | $7.7B | $1.2B | ||
| Q2 25 | $7.6B | $1.0B | ||
| Q1 25 | $7.1B | $1.0B | ||
| Q4 24 | $7.3B | $1.0B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | $1.8B | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $3.5B | $1.6B | ||
| Q3 25 | $3.3B | $1.6B | ||
| Q2 25 | $3.1B | $1.7B | ||
| Q1 25 | $2.9B | $1.6B | ||
| Q4 24 | $2.8B | $1.6B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.6B | $1.5B |
| Q4 25 | $13.0B | $3.2B | ||
| Q3 25 | $11.5B | $3.2B | ||
| Q2 25 | $11.2B | $3.1B | ||
| Q1 25 | $10.4B | $3.1B | ||
| Q4 24 | $10.5B | $3.1B | ||
| Q3 24 | $10.1B | $3.1B | ||
| Q2 24 | $9.5B | $3.1B | ||
| Q1 24 | $9.2B | $3.1B |
| Q4 25 | 2.54× | 0.75× | ||
| Q3 25 | 2.35× | 0.73× | ||
| Q2 25 | 2.48× | 0.62× | ||
| Q1 25 | 2.49× | 0.63× | ||
| Q4 24 | 2.62× | 0.65× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | 0.67× | 0.70× | ||
| Q1 24 | — | 0.73× |
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 | $93.1M |
| Free Cash FlowOCF − Capex | $118.0M | — |
| FCF MarginFCF / Revenue | 29.4% | — |
| Capex IntensityCapex / Revenue | 13.9% | — |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $93.1M | ||
| Q3 25 | $374.6M | $120.2M | ||
| Q2 25 | $74.6M | $141.2M | ||
| Q1 25 | $210.4M | $157.1M | ||
| Q4 24 | $312.0M | $139.5M | ||
| Q3 24 | $196.9M | $177.1M | ||
| Q2 24 | $68.8M | $202.3M | ||
| Q1 24 | $208.2M | $171.4M |
| Q4 25 | $118.0M | — | ||
| Q3 25 | $320.2M | — | ||
| Q2 25 | $23.5M | — | ||
| Q1 25 | $157.4M | — | ||
| Q4 24 | $268.1M | — | ||
| Q3 24 | $152.7M | — | ||
| Q2 24 | $30.5M | — | ||
| Q1 24 | $161.7M | — |
| Q4 25 | 29.4% | — | ||
| Q3 25 | 99.9% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 57.7% | — | ||
| Q4 24 | 88.5% | — | ||
| Q3 24 | 65.9% | — | ||
| Q2 24 | 13.6% | — | ||
| Q1 24 | 82.9% | — |
| Q4 25 | 13.9% | — | ||
| Q3 25 | 17.0% | — | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 17.1% | — | ||
| Q1 24 | 23.8% | — |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | 5.39× | ||
| Q1 25 | 75.03× | 4.32× | ||
| Q4 24 | 3.88× | 15.53× | ||
| Q3 24 | — | 3.55× | ||
| Q2 24 | — | 6.81× | ||
| Q1 24 | — | 26.63× |
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% |
HPK
| Crude Oil Sales | $152.1M | 70% |
| Natural Gas And NGL Sales | $60.8M | 28% |
