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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and Simpson Manufacturing Co., Inc. (SSD). Click either name above to swap in a different company.
Simpson Manufacturing Co., Inc. is the larger business by last-quarter revenue ($539.3M vs $401.4M, roughly 1.3× Affirm Holdings, Inc.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 10.4%, a 21.9% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 4.2%). Simpson Manufacturing Co., Inc. produced more free cash flow last quarter ($119.0M vs $118.0M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs 0.8%).
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.
Simpson Manufacturing Company is a leading building materials manufacturer in the United States that produces structural connectors, fasteners, anchors, and products for new construction and retrofitting.
AFRM vs SSD — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $539.3M |
| Net Profit | $129.6M | $56.2M |
| Gross Margin | — | 43.4% |
| Operating Margin | 29.3% | 13.9% |
| Net Margin | 32.3% | 10.4% |
| Revenue YoY | 32.5% | 4.2% |
| Net Profit YoY | 61.3% | 1.4% |
| EPS (diluted) | $0.37 | $1.34 |
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 | $539.3M | ||
| Q3 25 | $320.5M | $623.5M | ||
| Q2 25 | $306.6M | $631.1M | ||
| Q1 25 | $272.5M | $538.9M | ||
| Q4 24 | $303.0M | $517.4M | ||
| Q3 24 | $231.8M | $587.2M | ||
| Q2 24 | $224.0M | $597.0M | ||
| Q1 24 | $195.0M | $530.6M |
| Q4 25 | $129.6M | $56.2M | ||
| Q3 25 | $80.7M | $107.4M | ||
| Q2 25 | $69.2M | $103.5M | ||
| Q1 25 | $2.8M | $77.9M | ||
| Q4 24 | $80.4M | $55.4M | ||
| Q3 24 | $-100.2M | $93.5M | ||
| Q2 24 | $-45.1M | $97.8M | ||
| Q1 24 | $-133.9M | $75.4M |
| Q4 25 | — | 43.4% | ||
| Q3 25 | — | 46.4% | ||
| Q2 25 | — | 46.7% | ||
| Q1 25 | — | 46.8% | ||
| Q4 24 | — | 44.0% | ||
| Q3 24 | — | 46.8% | ||
| Q2 24 | — | 46.7% | ||
| Q1 24 | — | 46.1% |
| Q4 25 | 29.3% | 13.9% | ||
| Q3 25 | 19.9% | 22.6% | ||
| Q2 25 | 18.9% | 22.2% | ||
| Q1 25 | -3.1% | 19.0% | ||
| Q4 24 | -1.4% | 14.8% | ||
| Q3 24 | -57.2% | 21.3% | ||
| Q2 24 | -32.8% | 22.1% | ||
| Q1 24 | -82.5% | 18.1% |
| Q4 25 | 32.3% | 10.4% | ||
| Q3 25 | 25.2% | 17.2% | ||
| Q2 25 | 22.6% | 16.4% | ||
| Q1 25 | 1.0% | 14.5% | ||
| Q4 24 | 26.5% | 10.7% | ||
| Q3 24 | -43.2% | 15.9% | ||
| Q2 24 | -20.2% | 16.4% | ||
| Q1 24 | -68.7% | 14.2% |
| Q4 25 | $0.37 | $1.34 | ||
| Q3 25 | $0.23 | $2.58 | ||
| Q2 25 | $0.22 | $2.47 | ||
| Q1 25 | $0.01 | $1.85 | ||
| Q4 24 | $0.23 | $1.31 | ||
| Q3 24 | $-0.31 | $2.21 | ||
| Q2 24 | $-0.13 | $2.31 | ||
| Q1 24 | $-0.43 | $1.77 |
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 | $384.1M |
| Total DebtLower is stronger | $9.0B | $300.0M |
| Stockholders' EquityBook value | $3.5B | $2.0B |
| Total Assets | $13.0B | $3.1B |
| Debt / EquityLower = less leverage | 2.54× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $384.1M | ||
| Q3 25 | $1.4B | $297.3M | ||
| Q2 25 | $1.4B | $190.4M | ||
| Q1 25 | $1.4B | $150.3M | ||
| Q4 24 | $1.2B | $239.4M | ||
| Q3 24 | $1.0B | $339.4M | ||
| Q2 24 | $1.0B | $354.9M | ||
| Q1 24 | $1.3B | $369.1M |
| Q4 25 | $9.0B | $300.0M | ||
| Q3 25 | $7.7B | $371.3M | ||
| Q2 25 | $7.6B | $376.9M | ||
| Q1 25 | $7.1B | $382.5M | ||
| Q4 24 | $7.3B | $388.1M | ||
| Q3 24 | — | $393.8M | ||
| Q2 24 | $1.8B | $399.4M | ||
| Q1 24 | — | $405.0M |
| Q4 25 | $3.5B | $2.0B | ||
| Q3 25 | $3.3B | $2.0B | ||
| Q2 25 | $3.1B | $1.9B | ||
| Q1 25 | $2.9B | $1.9B | ||
| Q4 24 | $2.8B | $1.8B | ||
| Q3 24 | $2.8B | $1.9B | ||
| Q2 24 | $2.7B | $1.8B | ||
| Q1 24 | $2.6B | $1.7B |
| Q4 25 | $13.0B | $3.1B | ||
| Q3 25 | $11.5B | $3.0B | ||
| Q2 25 | $11.2B | $3.0B | ||
| Q1 25 | $10.4B | $2.8B | ||
| Q4 24 | $10.5B | $2.7B | ||
| Q3 24 | $10.1B | $2.9B | ||
| Q2 24 | $9.5B | $2.8B | ||
| Q1 24 | $9.2B | $2.7B |
| Q4 25 | 2.54× | 0.15× | ||
| Q3 25 | 2.35× | 0.19× | ||
| Q2 25 | 2.48× | 0.20× | ||
| Q1 25 | 2.49× | 0.21× | ||
| Q4 24 | 2.62× | 0.21× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | 0.67× | 0.23× | ||
| Q1 24 | — | 0.23× |
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 | $155.7M |
| Free Cash FlowOCF − Capex | $118.0M | $119.0M |
| FCF MarginFCF / Revenue | 29.4% | 22.1% |
| Capex IntensityCapex / Revenue | 13.9% | 6.8% |
| Cash ConversionOCF / Net Profit | 1.34× | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $297.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $155.7M | ||
| Q3 25 | $374.6M | $170.2M | ||
| Q2 25 | $74.6M | $125.2M | ||
| Q1 25 | $210.4M | $7.6M | ||
| Q4 24 | $312.0M | $115.8M | ||
| Q3 24 | $196.9M | $103.3M | ||
| Q2 24 | $68.8M | $111.1M | ||
| Q1 24 | $208.2M | $7.9M |
| Q4 25 | $118.0M | $119.0M | ||
| Q3 25 | $320.2M | $133.9M | ||
| Q2 25 | $23.5M | $87.3M | ||
| Q1 25 | $157.4M | $-42.6M | ||
| Q4 24 | $268.1M | $60.3M | ||
| Q3 24 | $152.7M | $58.1M | ||
| Q2 24 | $30.5M | $70.9M | ||
| Q1 24 | $161.7M | $-31.5M |
| Q4 25 | 29.4% | 22.1% | ||
| Q3 25 | 99.9% | 21.5% | ||
| Q2 25 | 7.7% | 13.8% | ||
| Q1 25 | 57.7% | -7.9% | ||
| Q4 24 | 88.5% | 11.7% | ||
| Q3 24 | 65.9% | 9.9% | ||
| Q2 24 | 13.6% | 11.9% | ||
| Q1 24 | 82.9% | -5.9% |
| Q4 25 | 13.9% | 6.8% | ||
| Q3 25 | 17.0% | 5.8% | ||
| Q2 25 | 16.7% | 6.0% | ||
| Q1 25 | 19.5% | 9.3% | ||
| Q4 24 | 14.5% | 10.7% | ||
| Q3 24 | 19.0% | 7.7% | ||
| Q2 24 | 17.1% | 6.7% | ||
| Q1 24 | 23.8% | 7.4% |
| Q4 25 | 1.34× | 2.77× | ||
| Q3 25 | 4.64× | 1.58× | ||
| Q2 25 | 1.08× | 1.21× | ||
| Q1 25 | 75.03× | 0.10× | ||
| Q4 24 | 3.88× | 2.09× | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 0.11× |
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% |
SSD
| Wood Construction | $352.0M | 65% |
| Other | $122.4M | 23% |
| Concrete Construction | $64.6M | 12% |
| Other Products | $318.0K | 0% |
