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Affirm Holdings, Inc.（AFRM）与Bandwidth Inc.（BAND）财务数据对比。点击上方公司名可切换其他公司
Affirm Holdings, Inc.的季度营收约是Bandwidth Inc.的1.9倍（$401.4M vs $208.8M），Affirm Holdings, Inc.净利率更高（32.3% vs 1.9%，领先30.4%），Affirm Holdings, Inc.同比增速更快（32.5% vs 20.1%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $-1.0M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 9.7%）
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。
Bandwidth Inc.是一家通信平台即服务提供商，依托自有全球IP语音网络，为客户提供语音、短信及应急服务相关的软件API产品，帮助开发者便捷集成通信功能，全球客户可借助其方案快速搭建符合需求的通信服务体系。
AFRM vs BAND — 直观对比
营收规模更大
AFRM
是对方的1.9倍
$208.8M
营收增速更快
AFRM
高出12.3%
20.1%
净利率更高
AFRM
高出30.4%
1.9%
自由现金流更多
AFRM
多$119.0M
$-1.0M
两年增速更快
AFRM
近两年复合增速
9.7%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $208.8M |
| 净利润 | $129.6M | $4.0M |
| 毛利率 | — | 37.3% |
| 营业利润率 | 29.3% | 60.5% |
| 净利率 | 32.3% | 1.9% |
| 营收同比 | 32.5% | 20.1% |
| 净利润同比 | 61.3% | 200.0% |
| 每股收益（稀释后） | $0.37 | $-0.08 |
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AFRMBAND
| Q1 26 | — | $208.8M | ||
| Q4 25 | $401.4M | $207.7M | ||
| Q3 25 | $320.5M | $191.9M | ||
| Q2 25 | $306.6M | $180.0M | ||
| Q1 25 | $272.5M | $174.2M | ||
| Q4 24 | $303.0M | $210.0M | ||
| Q3 24 | $231.8M | $193.9M | ||
| Q2 24 | $224.0M | $173.6M |
净利润AFRMBAND
| Q1 26 | — | $4.0M | ||
| Q4 25 | $129.6M | — | ||
| Q3 25 | $80.7M | $-1.2M | ||
| Q2 25 | $69.2M | $-4.9M | ||
| Q1 25 | $2.8M | $-3.7M | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $-100.2M | $413.0K | ||
| Q2 24 | $-45.1M | $4.1M |
毛利率AFRMBAND
| Q1 26 | — | 37.3% | ||
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 38.5% | ||
| Q2 25 | — | 39.8% | ||
| Q1 25 | — | 41.0% | ||
| Q4 24 | — | 36.4% | ||
| Q3 24 | — | 37.7% | ||
| Q2 24 | — | 37.3% |
营业利润率AFRMBAND
| Q1 26 | — | 60.5% | ||
| Q4 25 | 29.3% | -1.9% | ||
| Q3 25 | 19.9% | -1.0% | ||
| Q2 25 | 18.9% | -2.1% | ||
| Q1 25 | -3.1% | -2.7% | ||
| Q4 24 | -1.4% | -1.3% | ||
| Q3 24 | -57.2% | -0.5% | ||
| Q2 24 | -32.8% | -3.5% |
净利率AFRMBAND
| Q1 26 | — | 1.9% | ||
| Q4 25 | 32.3% | — | ||
| Q3 25 | 25.2% | -0.6% | ||
| Q2 25 | 22.6% | -2.7% | ||
| Q1 25 | 1.0% | -2.1% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | -43.2% | 0.2% | ||
| Q2 24 | -20.2% | 2.3% |
每股收益（稀释后）AFRMBAND
| Q1 26 | — | $-0.08 | ||
| Q4 25 | $0.37 | $-0.10 | ||
| Q3 25 | $0.23 | $-0.04 | ||
| Q2 25 | $0.22 | $-0.16 | ||
| Q1 25 | $0.01 | $-0.13 | ||
| Q4 24 | $0.23 | $0.27 | ||
| Q3 24 | $-0.31 | $0.01 | ||
| Q2 24 | $-0.13 | $-0.17 |
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 | $47.3M |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $405.7M |
| 总资产 | $13.0B | $984.2M |
| 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AFRMBAND
| Q1 26 | — | $47.3M | ||
| Q4 25 | $1.5B | $111.3M | ||
| Q3 25 | $1.4B | $80.4M | ||
| Q2 25 | $1.4B | $68.1M | ||
| Q1 25 | $1.4B | $41.7M | ||
| Q4 24 | $1.2B | $83.8M | ||
| Q3 24 | $1.0B | $79.9M | ||
| Q2 24 | $1.0B | $76.4M |
总债务AFRMBAND
| Q1 26 | — | — | ||
| 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 | — |
股东权益AFRMBAND
| Q1 26 | — | $405.7M | ||
| Q4 25 | $3.5B | $400.0M | ||
| Q3 25 | $3.3B | $392.7M | ||
| Q2 25 | $3.1B | $384.5M | ||
| Q1 25 | $2.9B | $345.4M | ||
| Q4 24 | $2.8B | $312.5M | ||
| Q3 24 | $2.8B | $336.6M | ||
| Q2 24 | $2.7B | $307.4M |
总资产AFRMBAND
| Q1 26 | — | $984.2M | ||
| Q4 25 | $13.0B | $1.1B | ||
| Q3 25 | $11.5B | $1.0B | ||
| Q2 25 | $11.2B | $1.0B | ||
| Q1 25 | $10.4B | $964.4M | ||
| Q4 24 | $10.5B | $989.2M | ||
| Q3 24 | $10.1B | $1.0B | ||
| Q2 24 | $9.5B | $1.0B |
负债/权益比AFRMBAND
| Q1 26 | — | — | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $-1.0M |
| 自由现金流率自由现金流/营收 | 29.4% | -0.5% |
| 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× | — |
| 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AFRMBAND
| Q1 26 | — | — | ||
| Q4 25 | $173.7M | $38.6M | ||
| Q3 25 | $374.6M | $22.2M | ||
| Q2 25 | $74.6M | $31.7M | ||
| Q1 25 | $210.4M | $-3.1M | ||
| Q4 24 | $312.0M | $36.5M | ||
| Q3 24 | $196.9M | $20.5M | ||
| Q2 24 | $68.8M | $24.4M |
自由现金流AFRMBAND
| Q1 26 | — | $-1.0M | ||
| 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 | — |
自由现金流率AFRMBAND
| Q1 26 | — | -0.5% | ||
| 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% | — |
资本支出强度AFRMBAND
| Q1 26 | — | — | ||
| 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% | — |
现金转化率AFRMBAND
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | 49.55× | ||
| Q2 24 | — | 6.03× |
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% |
BAND
暂无分部数据
