vs
Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and NIQ Global Intelligence plc (NIQ). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $204.2M, roughly 2.0× NIQ Global Intelligence plc). NIQ Global Intelligence plc runs the higher net margin — 88.6% vs 32.3%, a 56.3% gap on every dollar of revenue.
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.
NIQ Global Intelligence plc, operating as NielsenIQ, is a leading global provider of consumer behavior insights, retail analytics, and market measurement services. It serves CPG brands, retailers, and media entities across 100+ markets, delivering data-backed solutions to help clients understand shopper preferences and optimize business strategies.
AFRM vs NIQ — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $204.2M |
| Net Profit | $129.6M | $180.8M |
| Gross Margin | — | — |
| Operating Margin | 29.3% | — |
| Net Margin | 32.3% | 88.6% |
| Revenue YoY | 32.5% | — |
| Net Profit YoY | 61.3% | — |
| EPS (diluted) | $0.37 | $0.83 |
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 | $204.2M | ||
| Q3 25 | $320.5M | $205.1M | ||
| Q2 25 | $306.6M | $213.4M | ||
| Q1 25 | $272.5M | $221.8M | ||
| Q4 24 | $303.0M | — | ||
| Q3 24 | $231.8M | $207.3M | ||
| Q2 24 | $224.0M | $212.4M | ||
| Q1 24 | $195.0M | $207.4M |
| Q4 25 | $129.6M | $180.8M | ||
| Q3 25 | $80.7M | $-16.2M | ||
| Q2 25 | $69.2M | $110.3M | ||
| Q1 25 | $2.8M | $23.7M | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $-100.2M | $16.7M | ||
| Q2 24 | $-45.1M | $-48.6M | ||
| Q1 24 | $-133.9M | $14.2M |
| Q4 25 | 29.3% | — | ||
| Q3 25 | 19.9% | — | ||
| Q2 25 | 18.9% | — | ||
| Q1 25 | -3.1% | 24.2% | ||
| Q4 24 | -1.4% | — | ||
| Q3 24 | -57.2% | 21.7% | ||
| Q2 24 | -32.8% | -10.5% | ||
| Q1 24 | -82.5% | 19.0% |
| Q4 25 | 32.3% | 88.6% | ||
| Q3 25 | 25.2% | -7.9% | ||
| Q2 25 | 22.6% | 51.7% | ||
| Q1 25 | 1.0% | 10.7% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | -43.2% | 8.1% | ||
| Q2 24 | -20.2% | -22.9% | ||
| Q1 24 | -68.7% | 6.8% |
| Q4 25 | $0.37 | $0.83 | ||
| Q3 25 | $0.23 | $-0.07 | ||
| Q2 25 | $0.22 | $0.50 | ||
| Q1 25 | $0.01 | $0.11 | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $-0.31 | $0.08 | ||
| Q2 24 | $-0.13 | $-0.22 | ||
| Q1 24 | $-0.43 | $0.06 |
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 | $36.8M |
| Total DebtLower is stronger | $9.0B | $3.0B |
| Stockholders' EquityBook value | $3.5B | $3.1B |
| Total Assets | $13.0B | $6.7B |
| Debt / EquityLower = less leverage | 2.54× | 0.98× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $36.8M | ||
| Q3 25 | $1.4B | $68.7M | ||
| Q2 25 | $1.4B | $182.0M | ||
| Q1 25 | $1.4B | $49.1M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | $467.5M | ||
| Q2 24 | $1.0B | $273.8M | ||
| Q1 24 | $1.3B | $348.6M |
| Q4 25 | $9.0B | $3.0B | ||
| Q3 25 | $7.7B | $2.9B | ||
| Q2 25 | $7.6B | $3.0B | ||
| Q1 25 | $7.1B | $2.9B | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | $3.2B | ||
| Q2 24 | $1.8B | $3.0B | ||
| Q1 24 | — | $3.2B |
| Q4 25 | $3.5B | $3.1B | ||
| Q3 25 | $3.3B | $3.2B | ||
| Q2 25 | $3.1B | $3.3B | ||
| Q1 25 | $2.9B | $3.3B | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.8B | $3.3B | ||
| Q2 24 | $2.7B | $3.4B | ||
| Q1 24 | $2.6B | $3.5B |
| Q4 25 | $13.0B | $6.7B | ||
| Q3 25 | $11.5B | $6.6B | ||
| Q2 25 | $11.2B | $6.9B | ||
| Q1 25 | $10.4B | $6.7B | ||
| Q4 24 | $10.5B | — | ||
| Q3 24 | $10.1B | $7.1B | ||
| Q2 24 | $9.5B | $7.0B | ||
| Q1 24 | $9.2B | $7.2B |
| Q4 25 | 2.54× | 0.98× | ||
| Q3 25 | 2.35× | 0.93× | ||
| Q2 25 | 2.48× | 0.91× | ||
| Q1 25 | 2.49× | 0.89× | ||
| Q4 24 | 2.62× | — | ||
| Q3 24 | — | 0.97× | ||
| Q2 24 | 0.67× | 0.88× | ||
| Q1 24 | — | 0.90× |
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 | — |
| 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 | — | ||
| Q3 25 | $374.6M | $116.2M | ||
| Q2 25 | $74.6M | $132.8M | ||
| Q1 25 | $210.4M | $74.1M | ||
| Q4 24 | $312.0M | — | ||
| Q3 24 | $196.9M | — | ||
| Q2 24 | $68.8M | — | ||
| Q1 24 | $208.2M | $53.6M |
| 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× | 1.20× | ||
| Q1 25 | 75.03× | 3.12× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.79× |
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% |
NIQ
Segment breakdown not available.
