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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and TENNANT CO (TNC). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $291.6M, roughly 1.4× TENNANT CO). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs -1.5%, a 33.8% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs -11.3%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $9.7M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs -3.2%).
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.
The Tennant Company (TNC:NYQ) is a company with about 4000 employees that provides cleaning products. It is a company that is listed in the New York Stock Exchange.
AFRM vs TNC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $291.6M |
| Net Profit | $129.6M | $-4.4M |
| Gross Margin | — | 34.6% |
| Operating Margin | 29.3% | -1.4% |
| Net Margin | 32.3% | -1.5% |
| Revenue YoY | 32.5% | -11.3% |
| Net Profit YoY | 61.3% | -166.7% |
| EPS (diluted) | $0.37 | $-0.21 |
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 | $291.6M | ||
| Q3 25 | $320.5M | $303.3M | ||
| Q2 25 | $306.6M | $318.6M | ||
| Q1 25 | $272.5M | $290.0M | ||
| Q4 24 | $303.0M | $328.9M | ||
| Q3 24 | $231.8M | $315.8M | ||
| Q2 24 | $224.0M | $331.0M | ||
| Q1 24 | $195.0M | $311.0M |
| Q4 25 | $129.6M | $-4.4M | ||
| Q3 25 | $80.7M | $14.9M | ||
| Q2 25 | $69.2M | $20.2M | ||
| Q1 25 | $2.8M | $13.1M | ||
| Q4 24 | $80.4M | $6.6M | ||
| Q3 24 | $-100.2M | $20.8M | ||
| Q2 24 | $-45.1M | $27.9M | ||
| Q1 24 | $-133.9M | $28.4M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 42.1% | ||
| Q1 25 | — | 41.4% | ||
| Q4 24 | — | 41.3% | ||
| Q3 24 | — | 42.4% | ||
| Q2 24 | — | 43.1% | ||
| Q1 24 | — | 44.2% |
| Q4 25 | 29.3% | -1.4% | ||
| Q3 25 | 19.9% | 7.4% | ||
| Q2 25 | 18.9% | 9.6% | ||
| Q1 25 | -3.1% | 6.8% | ||
| Q4 24 | -1.4% | 2.3% | ||
| Q3 24 | -57.2% | 9.7% | ||
| Q2 24 | -32.8% | 11.7% | ||
| Q1 24 | -82.5% | 12.1% |
| Q4 25 | 32.3% | -1.5% | ||
| Q3 25 | 25.2% | 4.9% | ||
| Q2 25 | 22.6% | 6.3% | ||
| Q1 25 | 1.0% | 4.5% | ||
| Q4 24 | 26.5% | 2.0% | ||
| Q3 24 | -43.2% | 6.6% | ||
| Q2 24 | -20.2% | 8.4% | ||
| Q1 24 | -68.7% | 9.1% |
| Q4 25 | $0.37 | $-0.21 | ||
| Q3 25 | $0.23 | $0.80 | ||
| Q2 25 | $0.22 | $1.08 | ||
| Q1 25 | $0.01 | $0.69 | ||
| Q4 24 | $0.23 | $0.35 | ||
| Q3 24 | $-0.31 | $1.09 | ||
| Q2 24 | $-0.13 | $1.45 | ||
| Q1 24 | $-0.43 | $1.49 |
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 | — |
| Total DebtLower is stronger | $9.0B | $273.2M |
| Stockholders' EquityBook value | $3.5B | $601.6M |
| Total Assets | $13.0B | $1.3B |
| Debt / EquityLower = less leverage | 2.54× | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $9.0B | $273.2M | ||
| Q3 25 | $7.7B | $238.3M | ||
| Q2 25 | $7.6B | $213.4M | ||
| Q1 25 | $7.1B | $213.3M | ||
| Q4 24 | $7.3B | $198.2M | ||
| Q3 24 | — | $208.6M | ||
| Q2 24 | $1.8B | $205.6M | ||
| Q1 24 | — | $207.4M |
| Q4 25 | $3.5B | $601.6M | ||
| Q3 25 | $3.3B | $640.9M | ||
| Q2 25 | $3.1B | $651.9M | ||
| Q1 25 | $2.9B | $624.4M | ||
| Q4 24 | $2.8B | $620.8M | ||
| Q3 24 | $2.8B | $647.2M | ||
| Q2 24 | $2.7B | $624.6M | ||
| Q1 24 | $2.6B | $614.6M |
| Q4 25 | $13.0B | $1.3B | ||
| Q3 25 | $11.5B | $1.3B | ||
| Q2 25 | $11.2B | $1.2B | ||
| Q1 25 | $10.4B | $1.2B | ||
| Q4 24 | $10.5B | $1.2B | ||
| Q3 24 | $10.1B | $1.2B | ||
| Q2 24 | $9.5B | $1.2B | ||
| Q1 24 | $9.2B | $1.2B |
| Q4 25 | 2.54× | 0.45× | ||
| Q3 25 | 2.35× | 0.37× | ||
| Q2 25 | 2.48× | 0.33× | ||
| Q1 25 | 2.49× | 0.34× | ||
| Q4 24 | 2.62× | 0.32× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | 0.67× | 0.33× | ||
| Q1 24 | — | 0.34× |
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 | $14.2M |
| Free Cash FlowOCF − Capex | $118.0M | $9.7M |
| FCF MarginFCF / Revenue | 29.4% | 3.3% |
| Capex IntensityCapex / Revenue | 13.9% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $43.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.7M | $14.2M | ||
| Q3 25 | $374.6M | $28.7M | ||
| Q2 25 | $74.6M | $22.5M | ||
| Q1 25 | $210.4M | $-400.0K | ||
| Q4 24 | $312.0M | $37.5M | ||
| Q3 24 | $196.9M | $30.7M | ||
| Q2 24 | $68.8M | $18.6M | ||
| Q1 24 | $208.2M | $2.9M |
| Q4 25 | $118.0M | $9.7M | ||
| Q3 25 | $320.2M | $22.3M | ||
| Q2 25 | $23.5M | $18.7M | ||
| Q1 25 | $157.4M | $-7.4M | ||
| Q4 24 | $268.1M | $28.1M | ||
| Q3 24 | $152.7M | $26.4M | ||
| Q2 24 | $30.5M | $14.4M | ||
| Q1 24 | $161.7M | $-100.0K |
| Q4 25 | 29.4% | 3.3% | ||
| Q3 25 | 99.9% | 7.4% | ||
| Q2 25 | 7.7% | 5.9% | ||
| Q1 25 | 57.7% | -2.6% | ||
| Q4 24 | 88.5% | 8.5% | ||
| Q3 24 | 65.9% | 8.4% | ||
| Q2 24 | 13.6% | 4.4% | ||
| Q1 24 | 82.9% | -0.0% |
| Q4 25 | 13.9% | 1.5% | ||
| Q3 25 | 17.0% | 2.1% | ||
| Q2 25 | 16.7% | 1.2% | ||
| Q1 25 | 19.5% | 2.4% | ||
| Q4 24 | 14.5% | 2.9% | ||
| Q3 24 | 19.0% | 1.4% | ||
| Q2 24 | 17.1% | 1.3% | ||
| Q1 24 | 23.8% | 1.0% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | 1.93× | ||
| Q2 25 | 1.08× | 1.11× | ||
| Q1 25 | 75.03× | -0.03× | ||
| Q4 24 | 3.88× | 5.68× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | — | 0.67× | ||
| Q1 24 | — | 0.10× |
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% |
TNC
| Equipment Sales | $165.5M | 57% |
| Parts And Consumables | $69.1M | 24% |
| Service And Other | $57.0M | 20% |
