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Side-by-side financial comparison of Affirm Holdings, Inc. (AFRM) and TRIMAS CORP (TRS). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $256.5M, roughly 1.6× TRIMAS CORP). Affirm Holdings, Inc. runs the higher net margin — 32.3% vs 31.9%, a 0.4% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 3.8%). Affirm Holdings, Inc. produced more free cash flow last quarter ($118.0M vs $36.8M). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs 3.3%).
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.
Trimas Corp is a diversified industrial manufacturing enterprise that designs, produces and distributes a wide portfolio of engineered products, including specialized fasteners, aerospace components, custom packaging solutions, and consumer & industrial hardware. It primarily serves aerospace, automotive, construction, consumer goods and industrial sectors, with core operations across North America and selected global markets.
AFRM vs TRS — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $401.4M | $256.5M |
| Net Profit | $129.6M | $81.7M |
| Gross Margin | — | 12.8% |
| Operating Margin | 29.3% | 5.7% |
| Net Margin | 32.3% | 31.9% |
| Revenue YoY | 32.5% | 3.8% |
| Net Profit YoY | 61.3% | 236.9% |
| EPS (diluted) | $0.37 | $2.03 |
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.
| Q1 26 | — | $256.5M | ||
| Q4 25 | $401.4M | $-140.0M | ||
| Q3 25 | $320.5M | $269.3M | ||
| Q2 25 | $306.6M | $274.8M | ||
| Q1 25 | $272.5M | $241.7M | ||
| Q4 24 | $303.0M | $-66.2M | ||
| Q3 24 | $231.8M | $229.4M | ||
| Q2 24 | $224.0M | $240.5M |
| Q1 26 | — | $81.7M | ||
| Q4 25 | $129.6M | $81.7M | ||
| Q3 25 | $80.7M | $9.3M | ||
| Q2 25 | $69.2M | $16.7M | ||
| Q1 25 | $2.8M | $12.4M | ||
| Q4 24 | $80.4M | $5.6M | ||
| Q3 24 | $-100.2M | $2.5M | ||
| Q2 24 | $-45.1M | $10.9M |
| Q1 26 | — | 12.8% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 12.8% | ||
| Q2 25 | — | 13.8% | ||
| Q1 25 | — | 13.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.4% | ||
| Q2 24 | — | 14.4% |
| Q1 26 | — | 5.7% | ||
| Q4 25 | 29.3% | — | ||
| Q3 25 | 19.9% | 6.2% | ||
| Q2 25 | 18.9% | 9.9% | ||
| Q1 25 | -3.1% | 9.0% | ||
| Q4 24 | -1.4% | — | ||
| Q3 24 | -57.2% | 3.6% | ||
| Q2 24 | -32.8% | 7.4% |
| Q1 26 | — | 31.9% | ||
| Q4 25 | 32.3% | -58.4% | ||
| Q3 25 | 25.2% | 3.5% | ||
| Q2 25 | 22.6% | 6.1% | ||
| Q1 25 | 1.0% | 5.1% | ||
| Q4 24 | 26.5% | -8.5% | ||
| Q3 24 | -43.2% | 1.1% | ||
| Q2 24 | -20.2% | 4.5% |
| Q1 26 | — | $2.03 | ||
| Q4 25 | $0.37 | $2.01 | ||
| Q3 25 | $0.23 | $0.23 | ||
| Q2 25 | $0.22 | $0.41 | ||
| Q1 25 | $0.01 | $0.30 | ||
| Q4 24 | $0.23 | $0.14 | ||
| Q3 24 | $-0.31 | $0.06 | ||
| Q2 24 | $-0.13 | $0.27 |
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 | $30.0M |
| Total DebtLower is stronger | $9.0B | — |
| Stockholders' EquityBook value | $3.5B | $705.6M |
| Total Assets | $13.0B | $1.5B |
| Debt / EquityLower = less leverage | 2.54× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $30.0M | ||
| Q4 25 | $1.5B | $30.0M | ||
| Q3 25 | $1.4B | $33.6M | ||
| Q2 25 | $1.4B | $30.3M | ||
| Q1 25 | $1.4B | $32.7M | ||
| Q4 24 | $1.2B | $23.1M | ||
| Q3 24 | $1.0B | $26.9M | ||
| Q2 24 | $1.0B | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | $9.0B | $469.2M | ||
| Q3 25 | $7.7B | $407.1M | ||
| Q2 25 | $7.6B | $424.5M | ||
| Q1 25 | $7.1B | $434.2M | ||
| Q4 24 | $7.3B | $398.1M | ||
| Q3 24 | — | $409.9M | ||
| Q2 24 | $1.8B | $427.4M |
| Q1 26 | — | $705.6M | ||
| Q4 25 | $3.5B | $705.6M | ||
| Q3 25 | $3.3B | $725.0M | ||
| Q2 25 | $3.1B | $715.3M | ||
| Q1 25 | $2.9B | $686.6M | ||
| Q4 24 | $2.8B | $667.3M | ||
| Q3 24 | $2.8B | $682.8M | ||
| Q2 24 | $2.7B | $675.9M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $13.0B | $1.5B | ||
| Q3 25 | $11.5B | $1.4B | ||
| Q2 25 | $11.2B | $1.4B | ||
| Q1 25 | $10.4B | $1.4B | ||
| Q4 24 | $10.5B | $1.3B | ||
| Q3 24 | $10.1B | $1.4B | ||
| Q2 24 | $9.5B | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | 2.54× | 0.66× | ||
| Q3 25 | 2.35× | 0.56× | ||
| Q2 25 | 2.48× | 0.59× | ||
| Q1 25 | 2.49× | 0.63× | ||
| Q4 24 | 2.62× | 0.60× | ||
| Q3 24 | — | 0.60× | ||
| Q2 24 | 0.67× | 0.63× |
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 | $117.5M |
| Free Cash FlowOCF − Capex | $118.0M | $36.8M |
| FCF MarginFCF / Revenue | 29.4% | 14.4% |
| Capex IntensityCapex / Revenue | 13.9% | 18.9% |
| Cash ConversionOCF / Net Profit | 1.34× | 1.44× |
| TTM Free Cash FlowTrailing 4 quarters | $619.1M | $109.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $117.5M | ||
| Q4 25 | $173.7M | $41.5M | ||
| Q3 25 | $374.6M | $36.5M | ||
| Q2 25 | $74.6M | $30.3M | ||
| Q1 25 | $210.4M | $9.2M | ||
| Q4 24 | $312.0M | $27.1M | ||
| Q3 24 | $196.9M | $22.0M | ||
| Q2 24 | $68.8M | $18.4M |
| Q1 26 | — | $36.8M | ||
| Q4 25 | $118.0M | $36.8M | ||
| Q3 25 | $320.2M | $22.8M | ||
| Q2 25 | $23.5M | $13.2M | ||
| Q1 25 | $157.4M | $-3.8M | ||
| Q4 24 | $268.1M | $12.1M | ||
| Q3 24 | $152.7M | $10.2M | ||
| Q2 24 | $30.5M | $7.5M |
| Q1 26 | — | 14.4% | ||
| Q4 25 | 29.4% | -26.3% | ||
| Q3 25 | 99.9% | 8.5% | ||
| Q2 25 | 7.7% | 4.8% | ||
| Q1 25 | 57.7% | -1.6% | ||
| Q4 24 | 88.5% | -18.3% | ||
| Q3 24 | 65.9% | 4.4% | ||
| Q2 24 | 13.6% | 3.1% |
| Q1 26 | — | 18.9% | ||
| Q4 25 | 13.9% | -3.4% | ||
| Q3 25 | 17.0% | 5.1% | ||
| Q2 25 | 16.7% | 6.2% | ||
| Q1 25 | 19.5% | 5.4% | ||
| Q4 24 | 14.5% | -22.6% | ||
| Q3 24 | 19.0% | 5.2% | ||
| Q2 24 | 17.1% | 4.5% |
| Q1 26 | — | 1.44× | ||
| Q4 25 | 1.34× | 0.51× | ||
| Q3 25 | 4.64× | 3.92× | ||
| Q2 25 | 1.08× | 1.81× | ||
| Q1 25 | 75.03× | 0.74× | ||
| Q4 24 | 3.88× | 4.80× | ||
| Q3 24 | — | 8.71× | ||
| Q2 24 | — | 1.68× |
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% |
TRS
Segment breakdown not available.
