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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and STONERIDGE INC (SRI). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $205.2M, roughly 2.0× STONERIDGE INC). On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs -6.0%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $2.6M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs -7.4%).
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.
Stoneridge Inc is a global designer and manufacturer of advanced electrical and electronic components, integrated systems, and sensor solutions. It serves automotive, commercial vehicle, off-highway, and aerospace sectors, delivering products that boost vehicle safety, efficiency, connectivity, and environmental performance across key global markets.
AFRM vs SRI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $205.2M |
| Net Profit | $129.6M | — |
| Gross Margin | — | 16.2% |
| Operating Margin | 29.3% | -14.4% |
| Net Margin | 32.3% | — |
| Revenue YoY | 32.5% | -6.0% |
| Net Profit YoY | 61.3% | — |
| EPS (diluted) | $0.37 | $-2.76 |
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 | $205.2M | ||
| Q3 25 | $320.5M | $210.3M | ||
| Q2 25 | $306.6M | $228.0M | ||
| Q1 25 | $272.5M | $217.9M | ||
| Q4 24 | $303.0M | $218.2M | ||
| Q3 24 | $231.8M | $213.8M | ||
| Q2 24 | $224.0M | $237.1M | ||
| Q1 24 | $195.0M | $239.2M |
| Q4 25 | $129.6M | — | ||
| Q3 25 | $80.7M | $-9.4M | ||
| Q2 25 | $69.2M | $-9.4M | ||
| Q1 25 | $2.8M | $-7.2M | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $-100.2M | $-7.1M | ||
| Q2 24 | $-45.1M | $2.8M | ||
| Q1 24 | $-133.9M | $-6.1M |
| Q4 25 | — | 16.2% | ||
| Q3 25 | — | 20.3% | ||
| Q2 25 | — | 21.5% | ||
| Q1 25 | — | 21.2% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | — | 20.8% | ||
| Q2 24 | — | 22.7% | ||
| Q1 24 | — | 20.2% |
| Q4 25 | 29.3% | -14.4% | ||
| Q3 25 | 19.9% | -1.6% | ||
| Q2 25 | 18.9% | -1.1% | ||
| Q1 25 | -3.1% | -1.5% | ||
| Q4 24 | -1.4% | -2.0% | ||
| Q3 24 | -57.2% | 0.1% | ||
| Q2 24 | -32.8% | 1.4% | ||
| Q1 24 | -82.5% | 0.1% |
| Q4 25 | 32.3% | — | ||
| Q3 25 | 25.2% | -4.5% | ||
| Q2 25 | 22.6% | -4.1% | ||
| Q1 25 | 1.0% | -3.3% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | -43.2% | -3.3% | ||
| Q2 24 | -20.2% | 1.2% | ||
| Q1 24 | -68.7% | -2.6% |
| Q4 25 | $0.37 | $-2.76 | ||
| Q3 25 | $0.23 | $-0.34 | ||
| Q2 25 | $0.22 | $-0.34 | ||
| Q1 25 | $0.01 | $-0.26 | ||
| Q4 24 | $0.23 | $-0.22 | ||
| Q3 24 | $-0.31 | $-0.26 | ||
| Q2 24 | $-0.13 | $0.10 | ||
| Q1 24 | $-0.43 | $-0.22 |
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 | $66.3M |
| Total DebtLower is stronger | $9.0B | $180.9M |
| Stockholders' EquityBook value | $3.5B | $179.8M |
| Total Assets | $13.0B | $551.2M |
| Debt / EquityLower = less leverage | 2.54× | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $66.3M | ||
| Q3 25 | $1.4B | $54.0M | ||
| Q2 25 | $1.4B | $49.8M | ||
| Q1 25 | $1.4B | $79.1M | ||
| Q4 24 | $1.2B | $71.8M | ||
| Q3 24 | $1.0B | $54.1M | ||
| Q2 24 | $1.0B | $42.1M | ||
| Q1 24 | $1.3B | $48.4M |
| Q4 25 | $9.0B | $180.9M | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | $201.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $179.8M | ||
| Q3 25 | $3.3B | $251.2M | ||
| Q2 25 | $3.1B | $260.5M | ||
| Q1 25 | $2.9B | $253.1M | ||
| Q4 24 | $2.8B | $245.3M | ||
| Q3 24 | $2.8B | $271.4M | ||
| Q2 24 | $2.7B | $270.5M | ||
| Q1 24 | $2.6B | $277.3M |
| Q4 25 | $13.0B | $551.2M | ||
| Q3 25 | $11.5B | $632.1M | ||
| Q2 25 | $11.2B | $639.4M | ||
| Q1 25 | $10.4B | $657.4M | ||
| Q4 24 | $10.5B | $621.6M | ||
| Q3 24 | $10.1B | $662.5M | ||
| Q2 24 | $9.5B | $666.7M | ||
| Q1 24 | $9.2B | $675.4M |
| Q4 25 | 2.54× | 1.01× | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 2.49× | — | ||
| Q4 24 | 2.62× | 0.82× | ||
| 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 | $8.8M |
| Free Cash FlowOCF − Capex | $118.0M | $2.6M |
| FCF MarginFCF / Revenue | 29.4% | 1.3% |
| Capex IntensityCapex / Revenue | 13.9% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $12.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $8.8M | ||
| Q3 25 | $374.6M | $3.6M | ||
| Q2 25 | $74.6M | $10.7M | ||
| Q1 25 | $210.4M | $10.9M | ||
| Q4 24 | $312.0M | $19.2M | ||
| Q3 24 | $196.9M | $10.8M | ||
| Q2 24 | $68.8M | $8.7M | ||
| Q1 24 | $208.2M | $9.1M |
| Q4 25 | $118.0M | $2.6M | ||
| Q3 25 | $320.2M | $-2.7M | ||
| Q2 25 | $23.5M | $7.4M | ||
| Q1 25 | $157.4M | $4.8M | ||
| Q4 24 | $268.1M | $14.0M | ||
| Q3 24 | $152.7M | $4.6M | ||
| Q2 24 | $30.5M | $1.5M | ||
| Q1 24 | $161.7M | $3.3M |
| Q4 25 | 29.4% | 1.3% | ||
| Q3 25 | 99.9% | -1.3% | ||
| Q2 25 | 7.7% | 3.3% | ||
| Q1 25 | 57.7% | 2.2% | ||
| Q4 24 | 88.5% | 6.4% | ||
| Q3 24 | 65.9% | 2.2% | ||
| Q2 24 | 13.6% | 0.6% | ||
| Q1 24 | 82.9% | 1.4% |
| Q4 25 | 13.9% | 3.0% | ||
| Q3 25 | 17.0% | 3.0% | ||
| Q2 25 | 16.7% | 1.4% | ||
| Q1 25 | 19.5% | 2.8% | ||
| Q4 24 | 14.5% | 2.4% | ||
| Q3 24 | 19.0% | 2.9% | ||
| Q2 24 | 17.1% | 3.0% | ||
| Q1 24 | 23.8% | 2.4% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.11× | ||
| 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% |
SRI
| Control Devices | $51.7M | 25% |
| Electronics | $38.0M | 19% |
| EE | $34.2M | 17% |
| SE | $28.6M | 14% |
| NL | $24.5M | 12% |
| Stoneridge Brazil | $14.1M | 7% |
| Asia Pacific | $13.1M | 6% |
