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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and SunOpta Inc. (STKL). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $205.4M, roughly 2.0× SunOpta Inc.). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 0.4%, a 31.9% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 16.6%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $12.1M). 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.
SunOpta, Inc. is a multi-national food and mineral company headquartered in Eden Prairie, Minnesota and founded in 1973 in Canada.
AFRM vs STKL — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $205.4M |
| Net Profit | $129.6M | $816.0K |
| Gross Margin | — | 12.4% |
| Operating Margin | 29.3% | 3.3% |
| Net Margin | 32.3% | 0.4% |
| Revenue YoY | 32.5% | 16.6% |
| Net Profit YoY | 61.3% | 113.1% |
| EPS (diluted) | $0.37 | $0.01 |
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 | — | ||
| Q3 25 | $320.5M | $205.4M | ||
| Q2 25 | $306.6M | $191.5M | ||
| Q1 25 | $272.5M | $201.6M | ||
| Q4 24 | $303.0M | $193.9M | ||
| Q3 24 | $231.8M | $175.9M | ||
| Q2 24 | $224.0M | $169.5M | ||
| Q1 24 | $195.0M | $184.4M |
| Q4 25 | $129.6M | — | ||
| Q3 25 | $80.7M | $816.0K | ||
| Q2 25 | $69.2M | $4.4M | ||
| Q1 25 | $2.8M | $4.8M | ||
| Q4 24 | $80.4M | $-8.7M | ||
| Q3 24 | $-100.2M | $-6.2M | ||
| Q2 24 | $-45.1M | $-5.3M | ||
| Q1 24 | $-133.9M | $2.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | 12.4% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | 16.8% |
| Q4 25 | 29.3% | — | ||
| Q3 25 | 19.9% | 3.3% | ||
| Q2 25 | 18.9% | 5.5% | ||
| Q1 25 | -3.1% | 5.2% | ||
| Q4 24 | -1.4% | 1.4% | ||
| Q3 24 | -57.2% | 0.5% | ||
| Q2 24 | -32.8% | 1.2% | ||
| Q1 24 | -82.5% | 5.5% |
| Q4 25 | 32.3% | — | ||
| Q3 25 | 25.2% | 0.4% | ||
| Q2 25 | 22.6% | 2.3% | ||
| Q1 25 | 1.0% | 2.4% | ||
| Q4 24 | 26.5% | -4.5% | ||
| Q3 24 | -43.2% | -3.5% | ||
| Q2 24 | -20.2% | -3.1% | ||
| Q1 24 | -68.7% | 1.6% |
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.23 | $0.01 | ||
| Q2 25 | $0.22 | $0.03 | ||
| Q1 25 | $0.01 | $0.04 | ||
| Q4 24 | $0.23 | $-0.08 | ||
| Q3 24 | $-0.31 | $-0.05 | ||
| Q2 24 | $-0.13 | $-0.04 | ||
| Q1 24 | $-0.43 | $0.02 |
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 | $2.2M |
| Total DebtLower is stronger | $9.0B | $250.8M |
| Stockholders' EquityBook value | $3.5B | $162.8M |
| Total Assets | $13.0B | $694.1M |
| Debt / EquityLower = less leverage | 2.54× | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | $2.2M | ||
| Q2 25 | $1.4B | $2.2M | ||
| Q1 25 | $1.4B | $2.3M | ||
| Q4 24 | $1.2B | $1.6M | ||
| Q3 24 | $1.0B | $2.9M | ||
| Q2 24 | $1.0B | $3.2M | ||
| Q1 24 | $1.3B | $1.5M |
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | $250.8M | ||
| Q2 25 | $7.6B | $263.3M | ||
| Q1 25 | $7.1B | $260.6M | ||
| Q4 24 | $7.3B | $265.2M | ||
| Q3 24 | — | $289.9M | ||
| Q2 24 | $1.8B | $303.1M | ||
| Q1 24 | — | $258.8M |
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.3B | $162.8M | ||
| Q2 25 | $3.1B | $159.8M | ||
| Q1 25 | $2.9B | $154.8M | ||
| Q4 24 | $2.8B | $148.6M | ||
| Q3 24 | $2.8B | $155.0M | ||
| Q2 24 | $2.7B | $158.8M | ||
| Q1 24 | $2.6B | $163.6M |
| Q4 25 | $13.0B | — | ||
| Q3 25 | $11.5B | $694.1M | ||
| Q2 25 | $11.2B | $704.9M | ||
| Q1 25 | $10.4B | $690.7M | ||
| Q4 24 | $10.5B | $668.5M | ||
| Q3 24 | $10.1B | $699.3M | ||
| Q2 24 | $9.5B | $704.7M | ||
| Q1 24 | $9.2B | $671.8M |
| Q4 25 | 2.54× | — | ||
| Q3 25 | 2.35× | 1.54× | ||
| Q2 25 | 2.48× | 1.65× | ||
| Q1 25 | 2.49× | 1.68× | ||
| Q4 24 | 2.62× | 1.78× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | 0.67× | 1.91× | ||
| Q1 24 | — | 1.58× |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $118.0M | $12.1M |
| FCF MarginFCF / Revenue | 29.4% | 5.9% |
| Capex IntensityCapex / Revenue | 13.9% | 2.1% |
| Cash ConversionOCF / Net Profit | 1.34× | 20.03× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $36.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | — | ||
| Q3 25 | $374.6M | $16.3M | ||
| Q2 25 | $74.6M | $-4.5M | ||
| Q1 25 | $210.4M | $22.3M | ||
| Q4 24 | $312.0M | $33.1M | ||
| Q3 24 | $196.9M | $17.2M | ||
| Q2 24 | $68.8M | $-5.6M | ||
| Q1 24 | $208.2M | $5.3M |
| Q4 25 | $118.0M | — | ||
| Q3 25 | $320.2M | $12.1M | ||
| Q2 25 | $23.5M | $-9.2M | ||
| Q1 25 | $157.4M | $9.5M | ||
| Q4 24 | $268.1M | $24.0M | ||
| Q3 24 | $152.7M | $11.7M | ||
| Q2 24 | $30.5M | $-15.3M | ||
| Q1 24 | $161.7M | $-2.3M |
| Q4 25 | 29.4% | — | ||
| Q3 25 | 99.9% | 5.9% | ||
| Q2 25 | 7.7% | -4.8% | ||
| Q1 25 | 57.7% | 4.7% | ||
| Q4 24 | 88.5% | 12.4% | ||
| Q3 24 | 65.9% | 6.6% | ||
| Q2 24 | 13.6% | -9.0% | ||
| Q1 24 | 82.9% | -1.2% |
| Q4 25 | 13.9% | — | ||
| Q3 25 | 17.0% | 2.1% | ||
| Q2 25 | 16.7% | 2.5% | ||
| Q1 25 | 19.5% | 6.3% | ||
| Q4 24 | 14.5% | 4.7% | ||
| Q3 24 | 19.0% | 3.2% | ||
| Q2 24 | 17.1% | 5.7% | ||
| Q1 24 | 23.8% | 4.1% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | 20.03× | ||
| Q2 25 | 1.08× | -1.03× | ||
| Q1 25 | 75.03× | 4.63× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.83× |
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% |
STKL
| Beverages And Broths | $161.4M | 79% |
| Fruit Snacks | $40.9M | 20% |
| Ingredients | $3.1M | 2% |
