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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and SCANSOURCE, INC. (SCSC). Click either name above to swap in a different company.
SCANSOURCE, INC. is the larger business by last-quarter revenue ($766.5M vs $401.4M, roughly 1.9× Affirm Holdings, Inc.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 2.2%, a 30.1% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 2.5%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $28.9M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs 0.9%).
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.
ScanSource, Inc. is a leading global specialty technology distributor offering a broad portfolio of solutions including point-of-sale systems, barcode scanning tools, cybersecurity products, cloud services and communication solutions. It primarily serves value-added resellers, managed service providers and enterprise clients across North America, Latin America and Europe, covering retail, healthcare, industrial and public sector core segments.
AFRM vs SCSC — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $766.5M |
| Net Profit | $129.6M | $16.5M |
| Gross Margin | — | 13.4% |
| Operating Margin | 29.3% | 2.3% |
| Net Margin | 32.3% | 2.2% |
| Revenue YoY | 32.5% | 2.5% |
| Net Profit YoY | 61.3% | -3.3% |
| EPS (diluted) | $0.37 | $0.75 |
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 | $766.5M | ||
| Q3 25 | $320.5M | $739.6M | ||
| Q2 25 | $306.6M | $812.9M | ||
| Q1 25 | $272.5M | $704.8M | ||
| Q4 24 | $303.0M | $747.5M | ||
| Q3 24 | $231.8M | $775.6M | ||
| Q2 24 | $224.0M | $746.1M | ||
| Q1 24 | $195.0M | $752.6M |
| Q4 25 | $129.6M | $16.5M | ||
| Q3 25 | $80.7M | $19.9M | ||
| Q2 25 | $69.2M | $20.1M | ||
| Q1 25 | $2.8M | $17.4M | ||
| Q4 24 | $80.4M | $17.1M | ||
| Q3 24 | $-100.2M | $17.0M | ||
| Q2 24 | $-45.1M | $16.1M | ||
| Q1 24 | $-133.9M | $12.8M |
| Q4 25 | — | 13.4% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 13.1% | ||
| Q2 24 | — | 13.0% | ||
| Q1 24 | — | 12.6% |
| Q4 25 | 29.3% | 2.3% | ||
| Q3 25 | 19.9% | 3.5% | ||
| Q2 25 | 18.9% | 3.3% | ||
| Q1 25 | -3.1% | 3.2% | ||
| Q4 24 | -1.4% | 2.5% | ||
| Q3 24 | -57.2% | 2.3% | ||
| Q2 24 | -32.8% | 2.9% | ||
| Q1 24 | -82.5% | 2.3% |
| Q4 25 | 32.3% | 2.2% | ||
| Q3 25 | 25.2% | 2.7% | ||
| Q2 25 | 22.6% | 2.5% | ||
| Q1 25 | 1.0% | 2.5% | ||
| Q4 24 | 26.5% | 2.3% | ||
| Q3 24 | -43.2% | 2.2% | ||
| Q2 24 | -20.2% | 2.2% | ||
| Q1 24 | -68.7% | 1.7% |
| Q4 25 | $0.37 | $0.75 | ||
| Q3 25 | $0.23 | $0.89 | ||
| Q2 25 | $0.22 | $0.87 | ||
| Q1 25 | $0.01 | $0.74 | ||
| Q4 24 | $0.23 | $0.70 | ||
| Q3 24 | $-0.31 | $0.69 | ||
| Q2 24 | $-0.13 | $0.66 | ||
| Q1 24 | $-0.43 | $0.50 |
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 | $83.5M |
| Total DebtLower is stronger | $9.0B | — |
| Stockholders' EquityBook value | $3.5B | $910.9M |
| Total Assets | $13.0B | $1.7B |
| Debt / EquityLower = less leverage | 2.54× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $83.5M | ||
| Q3 25 | $1.4B | $124.9M | ||
| Q2 25 | $1.4B | $126.2M | ||
| Q1 25 | $1.4B | $146.3M | ||
| Q4 24 | $1.2B | $110.5M | ||
| Q3 24 | $1.0B | $145.0M | ||
| Q2 24 | $1.0B | $185.5M | ||
| Q1 24 | $1.3B | $159.1M |
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $910.9M | ||
| Q3 25 | $3.3B | $914.0M | ||
| Q2 25 | $3.1B | $906.4M | ||
| Q1 25 | $2.9B | $901.7M | ||
| Q4 24 | $2.8B | $900.7M | ||
| Q3 24 | $2.8B | $920.9M | ||
| Q2 24 | $2.7B | $924.3M | ||
| Q1 24 | $2.6B | $944.1M |
| Q4 25 | $13.0B | $1.7B | ||
| Q3 25 | $11.5B | $1.7B | ||
| Q2 25 | $11.2B | $1.8B | ||
| Q1 25 | $10.4B | $1.7B | ||
| Q4 24 | $10.5B | $1.7B | ||
| Q3 24 | $10.1B | $1.8B | ||
| Q2 24 | $9.5B | $1.8B | ||
| Q1 24 | $9.2B | $1.8B |
| Q4 25 | 2.54× | — | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 2.49× | — | ||
| Q4 24 | 2.62× | — | ||
| 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 | $30.8M |
| Free Cash FlowOCF − Capex | $118.0M | $28.9M |
| FCF MarginFCF / Revenue | 29.4% | 3.8% |
| Capex IntensityCapex / Revenue | 13.9% | 0.3% |
| Cash ConversionOCF / Net Profit | 1.34× | 1.87× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $30.8M | ||
| Q3 25 | $374.6M | $23.2M | ||
| Q2 25 | $74.6M | — | ||
| Q1 25 | $210.4M | $66.1M | ||
| Q4 24 | $312.0M | $-6.2M | ||
| Q3 24 | $196.9M | $44.8M | ||
| Q2 24 | $68.8M | — | ||
| Q1 24 | $208.2M | $160.2M |
| Q4 25 | $118.0M | $28.9M | ||
| Q3 25 | $320.2M | $20.8M | ||
| Q2 25 | $23.5M | — | ||
| Q1 25 | $157.4M | $64.6M | ||
| Q4 24 | $268.1M | $-8.2M | ||
| Q3 24 | $152.7M | $42.5M | ||
| Q2 24 | $30.5M | — | ||
| Q1 24 | $161.7M | $157.7M |
| Q4 25 | 29.4% | 3.8% | ||
| Q3 25 | 99.9% | 2.8% | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 57.7% | 9.2% | ||
| Q4 24 | 88.5% | -1.1% | ||
| Q3 24 | 65.9% | 5.5% | ||
| Q2 24 | 13.6% | — | ||
| Q1 24 | 82.9% | 21.0% |
| Q4 25 | 13.9% | 0.3% | ||
| Q3 25 | 17.0% | 0.3% | ||
| Q2 25 | 16.7% | 0.3% | ||
| Q1 25 | 19.5% | 0.2% | ||
| Q4 24 | 14.5% | 0.3% | ||
| Q3 24 | 19.0% | 0.3% | ||
| Q2 24 | 17.1% | 0.2% | ||
| Q1 24 | 23.8% | 0.3% |
| Q4 25 | 1.34× | 1.87× | ||
| Q3 25 | 4.64× | 1.17× | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | 3.79× | ||
| Q4 24 | 3.88× | -0.36× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
