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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and MONRO, INC. (MNRO). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $293.4M, roughly 1.4× MONRO, INC.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 3.8%, a 28.5% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs -4.0%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $9.1M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs -2.7%).
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.
Monro, Inc. is an automotive services company founded and headquartered in Rochester, New York, U.S. As of 2025, Monro has 1,260 locations making them the second-largest automotive services company in North America after Driven Brands by number of locations and by revenue.
AFRM vs MNRO — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $293.4M |
| Net Profit | $129.6M | $11.1M |
| Gross Margin | — | 34.9% |
| Operating Margin | 29.3% | 6.3% |
| Net Margin | 32.3% | 3.8% |
| Revenue YoY | 32.5% | -4.0% |
| Net Profit YoY | 61.3% | 143.1% |
| EPS (diluted) | $0.37 | $0.35 |
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 | $293.4M | ||
| Q3 25 | $320.5M | $288.9M | ||
| Q2 25 | $306.6M | $301.0M | ||
| Q1 25 | $272.5M | $295.0M | ||
| Q4 24 | $303.0M | $305.8M | ||
| Q3 24 | $231.8M | $301.4M | ||
| Q2 24 | $224.0M | $293.2M | ||
| Q1 24 | $195.0M | $310.1M |
| Q4 25 | $129.6M | $11.1M | ||
| Q3 25 | $80.7M | $5.7M | ||
| Q2 25 | $69.2M | $-8.1M | ||
| Q1 25 | $2.8M | $-21.3M | ||
| Q4 24 | $80.4M | $4.6M | ||
| Q3 24 | $-100.2M | $5.6M | ||
| Q2 24 | $-45.1M | $5.9M | ||
| Q1 24 | $-133.9M | $3.7M |
| Q4 25 | — | 34.9% | ||
| Q3 25 | — | 35.7% | ||
| Q2 25 | — | 35.5% | ||
| Q1 25 | — | 33.0% | ||
| Q4 24 | — | 34.3% | ||
| Q3 24 | — | 35.3% | ||
| Q2 24 | — | 37.2% | ||
| Q1 24 | — | 35.5% |
| Q4 25 | 29.3% | 6.3% | ||
| Q3 25 | 19.9% | 4.4% | ||
| Q2 25 | 18.9% | -2.0% | ||
| Q1 25 | -3.1% | -8.1% | ||
| Q4 24 | -1.4% | 3.3% | ||
| Q3 24 | -57.2% | 4.4% | ||
| Q2 24 | -32.8% | 4.5% | ||
| Q1 24 | -82.5% | 3.3% |
| Q4 25 | 32.3% | 3.8% | ||
| Q3 25 | 25.2% | 2.0% | ||
| Q2 25 | 22.6% | -2.7% | ||
| Q1 25 | 1.0% | -7.2% | ||
| Q4 24 | 26.5% | 1.5% | ||
| Q3 24 | -43.2% | 1.9% | ||
| Q2 24 | -20.2% | 2.0% | ||
| Q1 24 | -68.7% | 1.2% |
| Q4 25 | $0.37 | $0.35 | ||
| Q3 25 | $0.23 | $0.18 | ||
| Q2 25 | $0.22 | $-0.28 | ||
| Q1 25 | $0.01 | $-0.74 | ||
| Q4 24 | $0.23 | $0.15 | ||
| Q3 24 | $-0.31 | $0.18 | ||
| Q2 24 | $-0.13 | $0.19 | ||
| Q1 24 | $-0.43 | $0.12 |
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 | $4.9M |
| Total DebtLower is stronger | $9.0B | $45.0M |
| Stockholders' EquityBook value | $3.5B | $604.9M |
| Total Assets | $13.0B | $1.6B |
| Debt / EquityLower = less leverage | 2.54× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $4.9M | ||
| Q3 25 | $1.4B | $10.5M | ||
| Q2 25 | $1.4B | $7.8M | ||
| Q1 25 | $1.4B | $20.8M | ||
| Q4 24 | $1.2B | $10.2M | ||
| Q3 24 | $1.0B | $20.9M | ||
| Q2 24 | $1.0B | $18.7M | ||
| Q1 24 | $1.3B | $6.6M |
| Q4 25 | $9.0B | $45.0M | ||
| Q3 25 | $7.7B | $60.0M | ||
| Q2 25 | $7.6B | $71.5M | ||
| Q1 25 | $7.1B | $61.3M | ||
| Q4 24 | $7.3B | $59.3M | ||
| Q3 24 | — | $62.0M | ||
| Q2 24 | $1.8B | $112.0M | ||
| Q1 24 | — | $102.0M |
| Q4 25 | $3.5B | $604.9M | ||
| Q3 25 | $3.3B | $601.7M | ||
| Q2 25 | $3.1B | $604.9M | ||
| Q1 25 | $2.9B | $620.8M | ||
| Q4 24 | $2.8B | $648.9M | ||
| Q3 24 | $2.8B | $651.9M | ||
| Q2 24 | $2.7B | $654.4M | ||
| Q1 24 | $2.6B | $656.8M |
| Q4 25 | $13.0B | $1.6B | ||
| Q3 25 | $11.5B | $1.6B | ||
| Q2 25 | $11.2B | $1.6B | ||
| Q1 25 | $10.4B | $1.6B | ||
| Q4 24 | $10.5B | $1.7B | ||
| Q3 24 | $10.1B | $1.7B | ||
| Q2 24 | $9.5B | $1.7B | ||
| Q1 24 | $9.2B | $1.7B |
| Q4 25 | 2.54× | 0.07× | ||
| Q3 25 | 2.35× | 0.10× | ||
| Q2 25 | 2.48× | 0.12× | ||
| Q1 25 | 2.49× | 0.10× | ||
| Q4 24 | 2.62× | 0.09× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | 0.67× | 0.17× | ||
| Q1 24 | — | 0.16× |
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 | $17.8M |
| Free Cash FlowOCF − Capex | $118.0M | $9.1M |
| FCF MarginFCF / Revenue | 29.4% | 3.1% |
| Capex IntensityCapex / Revenue | 13.9% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.34× | 1.60× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $49.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $17.8M | ||
| Q3 25 | $374.6M | $32.3M | ||
| Q2 25 | $74.6M | $-1.9M | ||
| Q1 25 | $210.4M | $28.9M | ||
| Q4 24 | $312.0M | $14.8M | ||
| Q3 24 | $196.9M | $62.6M | ||
| Q2 24 | $68.8M | $25.6M | ||
| Q1 24 | $208.2M | $-5.3M |
| Q4 25 | $118.0M | $9.1M | ||
| Q3 25 | $320.2M | $26.6M | ||
| Q2 25 | $23.5M | $-9.3M | ||
| Q1 25 | $157.4M | $23.2M | ||
| Q4 24 | $268.1M | $7.9M | ||
| Q3 24 | $152.7M | $57.6M | ||
| Q2 24 | $30.5M | $16.8M | ||
| Q1 24 | $161.7M | $-11.9M |
| Q4 25 | 29.4% | 3.1% | ||
| Q3 25 | 99.9% | 9.2% | ||
| Q2 25 | 7.7% | -3.1% | ||
| Q1 25 | 57.7% | 7.9% | ||
| Q4 24 | 88.5% | 2.6% | ||
| Q3 24 | 65.9% | 19.1% | ||
| Q2 24 | 13.6% | 5.7% | ||
| Q1 24 | 82.9% | -3.8% |
| Q4 25 | 13.9% | 3.0% | ||
| Q3 25 | 17.0% | 2.0% | ||
| Q2 25 | 16.7% | 2.5% | ||
| Q1 25 | 19.5% | 1.9% | ||
| Q4 24 | 14.5% | 2.2% | ||
| Q3 24 | 19.0% | 1.6% | ||
| Q2 24 | 17.1% | 3.0% | ||
| Q1 24 | 23.8% | 2.1% |
| Q4 25 | 1.34× | 1.60× | ||
| Q3 25 | 4.64× | 5.71× | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | 3.23× | ||
| Q3 24 | — | 11.08× | ||
| Q2 24 | — | 4.37× | ||
| Q1 24 | — | -1.42× |
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% |
MNRO
| Tires | $150.2M | 51% |
| Maintenance | $73.5M | 25% |
| Brakes | $35.1M | 12% |
| Steering | $24.9M | 8% |
| Batteries | $6.2M | 2% |
| Exhaust | $3.2M | 1% |
