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Affirm Holdings, Inc.（AFRM）与Atlanticus Holdings Corp（ATLCP）财务数据对比。点击上方公司名可切换其他公司
Atlanticus Holdings Corp的季度营收约是Affirm Holdings, Inc.的1.8倍（$734.4M vs $401.4M）。Affirm Holdings, Inc.净利率更高（32.3% vs 4.7%，领先27.6%）。Atlanticus Holdings Corp同比增速更快（107.8% vs 32.5%）。过去两年Atlanticus Holdings Corp的营收复合增速更高（58.9% vs 43.5%）
Affirm Holdings, Inc.是美国知名金融科技企业、领先的先买后付（BNPL）服务商，由PayPal联合创始人马克斯·列夫琴于2012年创立。截至2025年，平台拥有近2600万用户，年支付处理规模达370亿美元，是美国规模最大的本土BNPL金融机构。
Atlanticus Holdings Corp是一家总部位于美国的金融科技及消费金融企业，主要服务美国境内信用记录不足或非优质信用的消费者群体，提供消费分期、个人贷款等普惠信贷产品，同时与零售商户及金融机构合作推出定制化灵活信贷解决方案。
AFRM vs ATLCP — 直观对比
营收规模更大
ATLCP
是对方的1.8倍
$401.4M
营收增速更快
ATLCP
高出75.3%
32.5%
净利率更高
AFRM
高出27.6%
4.7%
两年增速更快
ATLCP
近两年复合增速
43.5%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $734.4M |
| 净利润 | $129.6M | $34.6M |
| 毛利率 | — | 92.4% |
| 营业利润率 | 29.3% | 6.3% |
| 净利率 | 32.3% | 4.7% |
| 营收同比 | 32.5% | 107.8% |
| 净利润同比 | 61.3% | 11.7% |
| 每股收益（稀释后） | $0.37 | $1.75 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AFRMATLCP
| Q4 25 | $401.4M | $734.4M | ||
| Q3 25 | $320.5M | $494.7M | ||
| Q2 25 | $306.6M | $394.2M | ||
| Q1 25 | $272.5M | $345.2M | ||
| Q4 24 | $303.0M | $353.5M | ||
| Q3 24 | $231.8M | $351.2M | ||
| Q2 24 | $224.0M | $316.0M | ||
| Q1 24 | $195.0M | $290.7M |
净利润AFRMATLCP
| Q4 25 | $129.6M | $34.6M | ||
| Q3 25 | $80.7M | $25.0M | ||
| Q2 25 | $69.2M | $30.6M | ||
| Q1 25 | $2.8M | $31.5M | ||
| Q4 24 | $80.4M | $31.0M | ||
| Q3 24 | $-100.2M | $29.5M | ||
| Q2 24 | $-45.1M | $24.3M | ||
| Q1 24 | $-133.9M | $26.2M |
毛利率AFRMATLCP
| Q4 25 | — | 92.4% | ||
| Q3 25 | — | 92.1% | ||
| Q2 25 | — | 91.4% | ||
| Q1 25 | — | 90.7% | ||
| Q4 24 | — | 89.9% | ||
| Q3 24 | — | 92.0% | ||
| Q2 24 | — | 91.2% | ||
| Q1 24 | — | 90.8% |
营业利润率AFRMATLCP
| Q4 25 | 29.3% | 6.3% | ||
| Q3 25 | 19.9% | 6.6% | ||
| Q2 25 | 18.9% | 10.2% | ||
| Q1 25 | -3.1% | 11.8% | ||
| Q4 24 | -1.4% | 11.3% | ||
| Q3 24 | -57.2% | 10.6% | ||
| Q2 24 | -32.8% | 9.1% | ||
| Q1 24 | -82.5% | 11.3% |
净利率AFRMATLCP
| Q4 25 | 32.3% | 4.7% | ||
| Q3 25 | 25.2% | 5.0% | ||
| Q2 25 | 22.6% | 7.8% | ||
| Q1 25 | 1.0% | 9.1% | ||
| Q4 24 | 26.5% | 8.8% | ||
| Q3 24 | -43.2% | 8.4% | ||
| Q2 24 | -20.2% | 7.7% | ||
| Q1 24 | -68.7% | 9.0% |
每股收益（稀释后）AFRMATLCP
| Q4 25 | $0.37 | $1.75 | ||
| Q3 25 | $0.23 | $1.21 | ||
| Q2 25 | $0.22 | $1.51 | ||
| Q1 25 | $0.01 | $1.49 | ||
| Q4 24 | $0.23 | $1.42 | ||
| Q3 24 | $-0.31 | $1.27 | ||
| Q2 24 | $-0.13 | $0.99 | ||
| Q1 24 | $-0.43 | $1.09 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.5B | $621.1M |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $608.7M |
| 总资产 | $13.0B | $7.6B |
| 负债/权益比越低杠杆越低 | 2.54× | — |
8季度趋势，按日历期对齐
现金及短期投资AFRMATLCP
| Q4 25 | $1.5B | $621.1M | ||
| Q3 25 | $1.4B | $425.0M | ||
| Q2 25 | $1.4B | $329.4M | ||
| Q1 25 | $1.4B | $350.4M | ||
| Q4 24 | $1.2B | $375.4M | ||
| Q3 24 | $1.0B | $308.7M | ||
| Q2 24 | $1.0B | $350.9M | ||
| Q1 24 | $1.3B | $444.8M |
总债务AFRMATLCP
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | — |
股东权益AFRMATLCP
| Q4 25 | $3.5B | $608.7M | ||
| Q3 25 | $3.3B | $589.3M | ||
| Q2 25 | $3.1B | $563.3M | ||
| Q1 25 | $2.9B | $532.7M | ||
| Q4 24 | $2.8B | $492.9M | ||
| Q3 24 | $2.8B | $457.7M | ||
| Q2 24 | $2.7B | $433.8M | ||
| Q1 24 | $2.6B | $416.0M |
总资产AFRMATLCP
| Q4 25 | $13.0B | $7.6B | ||
| Q3 25 | $11.5B | $7.1B | ||
| Q2 25 | $11.2B | $3.6B | ||
| Q1 25 | $10.4B | $3.3B | ||
| Q4 24 | $10.5B | $3.3B | ||
| Q3 24 | $10.1B | $3.0B | ||
| Q2 24 | $9.5B | $2.8B | ||
| Q1 24 | $9.2B | $2.8B |
负债/权益比AFRMATLCP
| Q4 25 | 2.54× | — | ||
| Q3 25 | 2.35× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 2.49× | — | ||
| Q4 24 | 2.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $173.7M | $266.3M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | — |
| 自由现金流率自由现金流/营收 | 29.4% | — |
| 资本支出强度资本支出/营收 | 13.9% | — |
| 现金转化率经营现金流/净利润 | 1.34× | 7.69× |
| 过去12个月自由现金流最近4个季度 | $619.1M | — |
8季度趋势，按日历期对齐
经营现金流AFRMATLCP
| Q4 25 | $173.7M | $266.3M | ||
| Q3 25 | $374.6M | $107.5M | ||
| Q2 25 | $74.6M | $132.7M | ||
| Q1 25 | $210.4M | $131.6M | ||
| Q4 24 | $312.0M | $122.6M | ||
| Q3 24 | $196.9M | $112.4M | ||
| Q2 24 | $68.8M | $115.6M | ||
| Q1 24 | $208.2M | $118.8M |
自由现金流AFRMATLCP
| Q4 25 | $118.0M | — | ||
| Q3 25 | $320.2M | — | ||
| Q2 25 | $23.5M | — | ||
| Q1 25 | $157.4M | — | ||
| Q4 24 | $268.1M | — | ||
| Q3 24 | $152.7M | — | ||
| Q2 24 | $30.5M | — | ||
| Q1 24 | $161.7M | — |
自由现金流率AFRMATLCP
| Q4 25 | 29.4% | — | ||
| Q3 25 | 99.9% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 57.7% | — | ||
| Q4 24 | 88.5% | — | ||
| Q3 24 | 65.9% | — | ||
| Q2 24 | 13.6% | — | ||
| Q1 24 | 82.9% | — |
资本支出强度AFRMATLCP
| Q4 25 | 13.9% | — | ||
| Q3 25 | 17.0% | — | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 17.1% | — | ||
| Q1 24 | 23.8% | — |
现金转化率AFRMATLCP
| Q4 25 | 1.34× | 7.69× | ||
| Q3 25 | 4.64× | 4.30× | ||
| Q2 25 | 1.08× | 4.34× | ||
| Q1 25 | 75.03× | 4.17× | ||
| Q4 24 | 3.88× | 3.96× | ||
| Q3 24 | — | 3.80× | ||
| Q2 24 | — | 4.76× | ||
| Q1 24 | — | 4.54× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AFRM
| Merchant Network | $328.4M | 82% |
| Virtual Card Network | $73.0M | 18% |
| Commercial Agreement Amazon | $1.9M | 0% |
ATLCP
暂无分部数据
