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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and IDACORP INC (IDA). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $360.1M, roughly 1.1× IDACORP INC). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 12.1%, a 20.2% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs -4.2%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $-216.2M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs -7.2%).
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.
IDACORP, Inc is an electricity holding company, incorporated in Idaho with headquarters in Boise. It comprises Idaho Power Company, IDACORP Financial and Ida-West Energy. It was formed on October 1, 1998.
AFRM vs IDA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $360.1M |
| Net Profit | $129.6M | $43.6M |
| Gross Margin | — | — |
| Operating Margin | 29.3% | 14.9% |
| Net Margin | 32.3% | 12.1% |
| Revenue YoY | 32.5% | -4.2% |
| Net Profit YoY | 61.3% | 15.1% |
| EPS (diluted) | $0.37 | $0.78 |
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 | $360.1M | ||
| Q3 25 | $320.5M | $526.4M | ||
| Q2 25 | $306.6M | $449.3M | ||
| Q1 25 | $272.5M | $411.1M | ||
| Q4 24 | $303.0M | $375.9M | ||
| Q3 24 | $231.8M | $532.5M | ||
| Q2 24 | $224.0M | $442.6M | ||
| Q1 24 | $195.0M | $417.9M |
| Q4 25 | $129.6M | $43.6M | ||
| Q3 25 | $80.7M | $124.4M | ||
| Q2 25 | $69.2M | $95.8M | ||
| Q1 25 | $2.8M | $59.6M | ||
| Q4 24 | $80.4M | $37.9M | ||
| Q3 24 | $-100.2M | $113.6M | ||
| Q2 24 | $-45.1M | $89.5M | ||
| Q1 24 | $-133.9M | $48.2M |
| Q4 25 | 29.3% | 14.9% | ||
| Q3 25 | 19.9% | 27.5% | ||
| Q2 25 | 18.9% | 22.4% | ||
| Q1 25 | -3.1% | 13.4% | ||
| Q4 24 | -1.4% | 11.0% | ||
| Q3 24 | -57.2% | 25.1% | ||
| Q2 24 | -32.8% | 23.3% | ||
| Q1 24 | -82.5% | 11.9% |
| Q4 25 | 32.3% | 12.1% | ||
| Q3 25 | 25.2% | 23.6% | ||
| Q2 25 | 22.6% | 21.3% | ||
| Q1 25 | 1.0% | 14.5% | ||
| Q4 24 | 26.5% | 10.1% | ||
| Q3 24 | -43.2% | 21.3% | ||
| Q2 24 | -20.2% | 20.2% | ||
| Q1 24 | -68.7% | 11.5% |
| Q4 25 | $0.37 | $0.78 | ||
| Q3 25 | $0.23 | $2.26 | ||
| Q2 25 | $0.22 | $1.76 | ||
| Q1 25 | $0.01 | $1.10 | ||
| Q4 24 | $0.23 | $0.72 | ||
| Q3 24 | $-0.31 | $2.12 | ||
| Q2 24 | $-0.13 | $1.71 | ||
| Q1 24 | $-0.43 | $0.95 |
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 | $215.7M |
| Total DebtLower is stronger | $9.0B | $3.3B |
| Stockholders' EquityBook value | $3.5B | $3.6B |
| Total Assets | $13.0B | $10.2B |
| Debt / EquityLower = less leverage | 2.54× | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $215.7M | ||
| Q3 25 | $1.4B | $333.2M | ||
| Q2 25 | $1.4B | $474.5M | ||
| Q1 25 | $1.4B | $634.5M | ||
| Q4 24 | $1.2B | $368.9M | ||
| Q3 24 | $1.0B | $427.9M | ||
| Q2 24 | $1.0B | $169.6M | ||
| Q1 24 | $1.3B | $157.6M |
| Q4 25 | $9.0B | $3.3B | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | $3.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $3.6B | ||
| Q3 25 | $3.3B | $3.5B | ||
| Q2 25 | $3.1B | $3.4B | ||
| Q1 25 | $2.9B | $3.3B | ||
| Q4 24 | $2.8B | $3.3B | ||
| Q3 24 | $2.8B | $3.3B | ||
| Q2 24 | $2.7B | $3.2B | ||
| Q1 24 | $2.6B | $2.9B |
| Q4 25 | $13.0B | $10.2B | ||
| Q3 25 | $11.5B | $10.1B | ||
| Q2 25 | $11.2B | $9.9B | ||
| Q1 25 | $10.4B | $9.6B | ||
| Q4 24 | $10.5B | $9.2B | ||
| Q3 24 | $10.1B | $9.1B | ||
| Q2 24 | $9.5B | $8.7B | ||
| Q1 24 | $9.2B | $8.3B |
| Q4 25 | 2.54× | 0.93× | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 2.49× | — | ||
| Q4 24 | 2.62× | 0.92× | ||
| 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 | $137.8M |
| Free Cash FlowOCF − Capex | $118.0M | $-216.2M |
| FCF MarginFCF / Revenue | 29.4% | -60.0% |
| Capex IntensityCapex / Revenue | 13.9% | 98.3% |
| Cash ConversionOCF / Net Profit | 1.34× | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $-577.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $137.8M | ||
| Q3 25 | $374.6M | $162.8M | ||
| Q2 25 | $74.6M | $176.9M | ||
| Q1 25 | $210.4M | $124.3M | ||
| Q4 24 | $312.0M | $136.4M | ||
| Q3 24 | $196.9M | $201.9M | ||
| Q2 24 | $68.8M | $146.4M | ||
| Q1 24 | $208.2M | $109.7M |
| Q4 25 | $118.0M | $-216.2M | ||
| Q3 25 | $320.2M | $-127.9M | ||
| Q2 25 | $23.5M | $-156.4M | ||
| Q1 25 | $157.4M | $-77.0M | ||
| Q4 24 | $268.1M | $-48.9M | ||
| Q3 24 | $152.7M | $-16.1M | ||
| Q2 24 | $30.5M | $-199.6M | ||
| Q1 24 | $161.7M | $-150.3M |
| Q4 25 | 29.4% | -60.0% | ||
| Q3 25 | 99.9% | -24.3% | ||
| Q2 25 | 7.7% | -34.8% | ||
| Q1 25 | 57.7% | -18.7% | ||
| Q4 24 | 88.5% | -13.0% | ||
| Q3 24 | 65.9% | -3.0% | ||
| Q2 24 | 13.6% | -45.1% | ||
| Q1 24 | 82.9% | -36.0% |
| Q4 25 | 13.9% | 98.3% | ||
| Q3 25 | 17.0% | 55.2% | ||
| Q2 25 | 16.7% | 74.2% | ||
| Q1 25 | 19.5% | 49.0% | ||
| Q4 24 | 14.5% | 49.3% | ||
| Q3 24 | 19.0% | 41.0% | ||
| Q2 24 | 17.1% | 78.2% | ||
| Q1 24 | 23.8% | 62.2% |
| Q4 25 | 1.34× | 3.16× | ||
| Q3 25 | 4.64× | 1.31× | ||
| Q2 25 | 1.08× | 1.85× | ||
| Q1 25 | 75.03× | 2.08× | ||
| Q4 24 | 3.88× | 3.60× | ||
| Q3 24 | — | 1.78× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | — | 2.28× |
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% |
IDA
| Retailrevenues | $323.0M | 90% |
| Transmissionserviceswheeling | $18.6M | 5% |
| Energyefficiencyprogramrevenues | $11.7M | 3% |
| Wholesaleenergysales | $10.5M | 3% |
| Otherrevenues | $9.5M | 3% |
