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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and RBC Bearings INC (RBC). Click either name above to swap in a different company.
RBC Bearings INC is the larger business by last-quarter revenue ($461.6M vs $401.4M, roughly 1.1× Affirm Holdings, Inc.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 14.6%, a 17.7% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 17.0%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $99.1M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs 5.6%).
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.
Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under the symbol DOV. Dover was ranked 448 in the 2024 Fortu...
AFRM vs RBC — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $461.6M |
| Net Profit | $129.6M | $67.4M |
| Gross Margin | — | 44.3% |
| Operating Margin | 29.3% | 22.3% |
| Net Margin | 32.3% | 14.6% |
| Revenue YoY | 32.5% | 17.0% |
| Net Profit YoY | 61.3% | 16.4% |
| EPS (diluted) | $0.37 | $2.13 |
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 | $461.6M | ||
| Q3 25 | $320.5M | $455.3M | ||
| Q2 25 | $306.6M | $436.0M | ||
| Q1 25 | $272.5M | $437.7M | ||
| Q4 24 | $303.0M | $394.4M | ||
| Q3 24 | $231.8M | $397.9M | ||
| Q2 24 | $224.0M | $406.3M | ||
| Q1 24 | $195.0M | $413.7M |
| Q4 25 | $129.6M | $67.4M | ||
| Q3 25 | $80.7M | $60.0M | ||
| Q2 25 | $69.2M | $68.5M | ||
| Q1 25 | $2.8M | $72.7M | ||
| Q4 24 | $80.4M | $57.9M | ||
| Q3 24 | $-100.2M | $54.2M | ||
| Q2 24 | $-45.1M | $61.4M | ||
| Q1 24 | $-133.9M | — |
| Q4 25 | — | 44.3% | ||
| Q3 25 | — | 44.1% | ||
| Q2 25 | — | 44.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | — | 44.3% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 45.3% | ||
| Q1 24 | — | 43.1% |
| Q4 25 | 29.3% | 22.3% | ||
| Q3 25 | 19.9% | 21.5% | ||
| Q2 25 | 18.9% | 23.2% | ||
| Q1 25 | -3.1% | 23.0% | ||
| Q4 24 | -1.4% | 21.7% | ||
| Q3 24 | -57.2% | 21.6% | ||
| Q2 24 | -32.8% | 24.0% | ||
| Q1 24 | -82.5% | 22.8% |
| Q4 25 | 32.3% | 14.6% | ||
| Q3 25 | 25.2% | 13.2% | ||
| Q2 25 | 22.6% | 15.7% | ||
| Q1 25 | 1.0% | 16.6% | ||
| Q4 24 | 26.5% | 14.7% | ||
| Q3 24 | -43.2% | 13.6% | ||
| Q2 24 | -20.2% | 15.1% | ||
| Q1 24 | -68.7% | — |
| Q4 25 | $0.37 | $2.13 | ||
| Q3 25 | $0.23 | $1.90 | ||
| Q2 25 | $0.22 | $2.17 | ||
| Q1 25 | $0.01 | $2.33 | ||
| Q4 24 | $0.23 | $1.82 | ||
| Q3 24 | $-0.31 | $1.65 | ||
| Q2 24 | $-0.13 | $1.90 | ||
| Q1 24 | $-0.43 | $1.92 |
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 | $107.6M |
| Total DebtLower is stronger | $9.0B | $990.2M |
| Stockholders' EquityBook value | $3.5B | $3.3B |
| Total Assets | $13.0B | $5.1B |
| Debt / EquityLower = less leverage | 2.54× | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $107.6M | ||
| Q3 25 | $1.4B | $91.2M | ||
| Q2 25 | $1.4B | $132.9M | ||
| Q1 25 | $1.4B | $36.8M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | $76.8M | ||
| Q1 24 | $1.3B | $63.5M |
| Q4 25 | $9.0B | $990.2M | ||
| Q3 25 | $7.7B | $1.1B | ||
| Q2 25 | $7.6B | $915.6M | ||
| Q1 25 | $7.1B | $920.1M | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $3.5B | $3.3B | ||
| Q3 25 | $3.3B | $3.2B | ||
| Q2 25 | $3.1B | $3.1B | ||
| Q1 25 | $2.9B | $3.0B | ||
| Q4 24 | $2.8B | $2.9B | ||
| Q3 24 | $2.8B | $2.9B | ||
| Q2 24 | $2.7B | $2.8B | ||
| Q1 24 | $2.6B | $2.8B |
| Q4 25 | $13.0B | $5.1B | ||
| Q3 25 | $11.5B | $5.1B | ||
| Q2 25 | $11.2B | $4.8B | ||
| Q1 25 | $10.4B | $4.7B | ||
| Q4 24 | $10.5B | $4.7B | ||
| Q3 24 | $10.1B | $4.7B | ||
| Q2 24 | $9.5B | $4.7B | ||
| Q1 24 | $9.2B | $4.7B |
| Q4 25 | 2.54× | 0.30× | ||
| Q3 25 | 2.35× | 0.34× | ||
| Q2 25 | 2.48× | 0.29× | ||
| Q1 25 | 2.49× | 0.30× | ||
| Q4 24 | 2.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | — | 0.43× |
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 | $122.1M |
| Free Cash FlowOCF − Capex | $118.0M | $99.1M |
| FCF MarginFCF / Revenue | 29.4% | 21.5% |
| Capex IntensityCapex / Revenue | 13.9% | 5.0% |
| Cash ConversionOCF / Net Profit | 1.34× | 1.81× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $122.1M | ||
| Q3 25 | $374.6M | $88.4M | ||
| Q2 25 | $74.6M | $120.0M | ||
| Q1 25 | $210.4M | — | ||
| Q4 24 | $312.0M | $84.0M | ||
| Q3 24 | $196.9M | — | ||
| Q2 24 | $68.8M | $97.4M | ||
| Q1 24 | $208.2M | — |
| Q4 25 | $118.0M | $99.1M | ||
| Q3 25 | $320.2M | $71.7M | ||
| Q2 25 | $23.5M | $104.3M | ||
| Q1 25 | $157.4M | — | ||
| Q4 24 | $268.1M | $73.6M | ||
| Q3 24 | $152.7M | — | ||
| Q2 24 | $30.5M | $88.4M | ||
| Q1 24 | $161.7M | — |
| Q4 25 | 29.4% | 21.5% | ||
| Q3 25 | 99.9% | 15.7% | ||
| Q2 25 | 7.7% | 23.9% | ||
| Q1 25 | 57.7% | — | ||
| Q4 24 | 88.5% | 18.7% | ||
| Q3 24 | 65.9% | — | ||
| Q2 24 | 13.6% | 21.8% | ||
| Q1 24 | 82.9% | — |
| Q4 25 | 13.9% | 5.0% | ||
| Q3 25 | 17.0% | 3.7% | ||
| Q2 25 | 16.7% | 3.6% | ||
| Q1 25 | 19.5% | 3.2% | ||
| Q4 24 | 14.5% | 2.6% | ||
| Q3 24 | 19.0% | 4.1% | ||
| Q2 24 | 17.1% | 2.2% | ||
| Q1 24 | 23.8% | — |
| Q4 25 | 1.34× | 1.81× | ||
| Q3 25 | 4.64× | 1.47× | ||
| Q2 25 | 1.08× | 1.75× | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | 1.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.59× | ||
| Q1 24 | — | — |
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% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
