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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and Magnolia Oil & Gas Corp (MGY). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $317.6M, roughly 1.3× Magnolia Oil & Gas Corp). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 21.6%, a 10.6% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs -2.7%). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs -0.3%).
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.
Imperial Oil Limited is a Canadian petroleum company. It is Canada's second-largest integrated oil company that is also occasionally known as Imperial Esso. It is majority-owned by American oil company ExxonMobil, with a 69.6% ownership stake in the company. It is a producer of crude oil, diluted bitumen, and natural gas. Imperial Oil is one of Canada's major petroleum refiners and petrochemical producers. It supplies Esso-brand service stations.
AFRM vs MGY — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $317.6M |
| Net Profit | $129.6M | $68.8M |
| Gross Margin | — | — |
| Operating Margin | 29.3% | 29.6% |
| Net Margin | 32.3% | 21.6% |
| Revenue YoY | 32.5% | -2.7% |
| Net Profit YoY | 61.3% | -19.7% |
| EPS (diluted) | $0.37 | — |
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 | $317.6M | ||
| Q3 25 | $320.5M | $324.9M | ||
| Q2 25 | $306.6M | $319.0M | ||
| Q1 25 | $272.5M | $350.3M | ||
| Q4 24 | $303.0M | $326.6M | ||
| Q3 24 | $231.8M | $333.1M | ||
| Q2 24 | $224.0M | $336.7M | ||
| Q1 24 | $195.0M | $319.4M |
| Q4 25 | $129.6M | $68.8M | ||
| Q3 25 | $80.7M | $75.5M | ||
| Q2 25 | $69.2M | $78.1M | ||
| Q1 25 | $2.8M | $102.9M | ||
| Q4 24 | $80.4M | $85.6M | ||
| Q3 24 | $-100.2M | $99.8M | ||
| Q2 24 | $-45.1M | $95.6M | ||
| Q1 24 | $-133.9M | $85.1M |
| Q4 25 | 29.3% | 29.6% | ||
| Q3 25 | 19.9% | 31.2% | ||
| Q2 25 | 18.9% | 33.8% | ||
| Q1 25 | -3.1% | 38.8% | ||
| Q4 24 | -1.4% | 38.0% | ||
| Q3 24 | -57.2% | 38.7% | ||
| Q2 24 | -32.8% | 39.9% | ||
| Q1 24 | -82.5% | 39.0% |
| Q4 25 | 32.3% | 21.6% | ||
| Q3 25 | 25.2% | 23.2% | ||
| Q2 25 | 22.6% | 24.5% | ||
| Q1 25 | 1.0% | 29.4% | ||
| Q4 24 | 26.5% | 26.2% | ||
| Q3 24 | -43.2% | 30.0% | ||
| Q2 24 | -20.2% | 28.4% | ||
| Q1 24 | -68.7% | 26.6% |
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.23 | — | ||
| Q2 25 | $0.22 | — | ||
| Q1 25 | $0.01 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $-0.31 | — | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-0.43 | — |
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 | $266.8M |
| Total DebtLower is stronger | $9.0B | $393.3M |
| Stockholders' EquityBook value | $3.5B | $2.0B |
| Total Assets | $13.0B | $2.9B |
| Debt / EquityLower = less leverage | 2.54× | 0.20× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $266.8M | ||
| Q3 25 | $1.4B | $280.5M | ||
| Q2 25 | $1.4B | $251.8M | ||
| Q1 25 | $1.4B | $247.6M | ||
| Q4 24 | $1.2B | $260.0M | ||
| Q3 24 | $1.0B | $276.1M | ||
| Q2 24 | $1.0B | $275.7M | ||
| Q1 24 | $1.3B | $399.3M |
| Q4 25 | $9.0B | $393.3M | ||
| Q3 25 | $7.7B | $393.1M | ||
| Q2 25 | $7.6B | $392.9M | ||
| Q1 25 | $7.1B | $392.7M | ||
| Q4 24 | $7.3B | $392.5M | ||
| Q3 24 | — | $394.8M | ||
| Q2 24 | $1.8B | $394.1M | ||
| Q1 24 | — | $393.5M |
| Q4 25 | $3.5B | $2.0B | ||
| Q3 25 | $3.3B | $2.0B | ||
| Q2 25 | $3.1B | $2.0B | ||
| Q1 25 | $2.9B | $2.0B | ||
| Q4 24 | $2.8B | $2.0B | ||
| Q3 24 | $2.8B | $2.0B | ||
| Q2 24 | $2.7B | $1.9B | ||
| Q1 24 | $2.6B | $1.9B |
| Q4 25 | $13.0B | $2.9B | ||
| Q3 25 | $11.5B | $2.9B | ||
| Q2 25 | $11.2B | $2.9B | ||
| Q1 25 | $10.4B | $2.9B | ||
| Q4 24 | $10.5B | $2.8B | ||
| Q3 24 | $10.1B | $2.8B | ||
| Q2 24 | $9.5B | $2.8B | ||
| Q1 24 | $9.2B | $2.8B |
| Q4 25 | 2.54× | 0.20× | ||
| Q3 25 | 2.35× | 0.20× | ||
| Q2 25 | 2.48× | 0.20× | ||
| Q1 25 | 2.49× | 0.20× | ||
| Q4 24 | 2.62× | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | 0.67× | 0.21× | ||
| Q1 24 | — | 0.21× |
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 | $208.4M |
| Free Cash FlowOCF − Capex | $118.0M | — |
| FCF MarginFCF / Revenue | 29.4% | — |
| Capex IntensityCapex / Revenue | 13.9% | — |
| Cash ConversionOCF / Net Profit | 1.34× | 3.03× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $208.4M | ||
| Q3 25 | $374.6M | $247.1M | ||
| Q2 25 | $74.6M | $198.7M | ||
| Q1 25 | $210.4M | $224.5M | ||
| Q4 24 | $312.0M | $222.6M | ||
| Q3 24 | $196.9M | $217.9M | ||
| Q2 24 | $68.8M | $269.4M | ||
| Q1 24 | $208.2M | $210.9M |
| 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× | 3.03× | ||
| Q3 25 | 4.64× | 3.27× | ||
| Q2 25 | 1.08× | 2.54× | ||
| Q1 25 | 75.03× | 2.18× | ||
| Q4 24 | 3.88× | 2.60× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 2.82× | ||
| Q1 24 | — | 2.48× |
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% |
MGY
| Oil And Condensate | $215.6M | 68% |
| Natural Gas Reserves | $52.9M | 17% |
| Natural Gas Liquids Reserves | $49.1M | 15% |
