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Affirm Holdings, Inc.（AFRM）与Concentra Group Holdings Parent, Inc.（CON）财务数据对比。点击上方公司名可切换其他公司
Concentra Group Holdings Parent, Inc.的季度营收约是Affirm Holdings, Inc.的1.3倍（$539.1M vs $401.4M），Affirm Holdings, Inc.净利率更高（32.3% vs 6.4%，领先25.8%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $98.5M）
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。
Concentra是美国的职业医疗服务商，1979年成立于得克萨斯州阿马里洛，总部位于得克萨斯州艾迪生。业务覆盖美国47个州，运营627家职业医疗中心和410个雇主驻地现场诊所，美国每7起职业伤害案例中就有1起由该机构提供诊疗服务。
AFRM vs CON — 直观对比
营收规模更大
CON
是对方的1.3倍
$401.4M
净利率更高
AFRM
高出25.8%
6.4%
自由现金流更多
AFRM
多$19.5M
$98.5M
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $539.1M |
| 净利润 | $129.6M | $34.7M |
| 毛利率 | — | — |
| 营业利润率 | 29.3% | 12.9% |
| 净利率 | 32.3% | 6.4% |
| 营收同比 | 32.5% | — |
| 净利润同比 | 61.3% | — |
| 每股收益（稀释后） | $0.37 | $0.27 |
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AFRMCON
| Q4 25 | $401.4M | $539.1M | ||
| Q3 25 | $320.5M | $572.8M | ||
| Q2 25 | $306.6M | $550.8M | ||
| Q1 25 | $272.5M | $500.8M | ||
| Q4 24 | $303.0M | — | ||
| Q3 24 | $231.8M | $489.6M | ||
| Q2 24 | $224.0M | $477.9M | ||
| Q1 24 | $195.0M | — |
净利润AFRMCON
| Q4 25 | $129.6M | $34.7M | ||
| Q3 25 | $80.7M | $48.3M | ||
| Q2 25 | $69.2M | $44.6M | ||
| Q1 25 | $2.8M | $38.9M | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $-100.2M | $44.3M | ||
| Q2 24 | $-45.1M | $51.7M | ||
| Q1 24 | $-133.9M | — |
营业利润率AFRMCON
| Q4 25 | 29.3% | 12.9% | ||
| Q3 25 | 19.9% | 16.5% | ||
| Q2 25 | 18.9% | 16.3% | ||
| Q1 25 | -3.1% | 16.0% | ||
| Q4 24 | -1.4% | — | ||
| Q3 24 | -57.2% | 17.6% | ||
| Q2 24 | -32.8% | 17.6% | ||
| Q1 24 | -82.5% | — |
净利率AFRMCON
| Q4 25 | 32.3% | 6.4% | ||
| Q3 25 | 25.2% | 8.4% | ||
| Q2 25 | 22.6% | 8.1% | ||
| Q1 25 | 1.0% | 7.8% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | -43.2% | 9.1% | ||
| Q2 24 | -20.2% | 10.8% | ||
| Q1 24 | -68.7% | — |
每股收益（稀释后）AFRMCON
| Q4 25 | $0.37 | $0.27 | ||
| Q3 25 | $0.23 | $0.38 | ||
| Q2 25 | $0.22 | $0.35 | ||
| Q1 25 | $0.01 | $0.30 | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $-0.31 | $0.37 | ||
| Q2 24 | $-0.13 | $0.50 | ||
| Q1 24 | $-0.43 | — |
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 | $79.9M |
| 总债务越低越好 | $9.0B | $1.6B |
| 股东权益账面价值 | $3.5B | $393.3M |
| 总资产 | $13.0B | $2.9B |
| 负债/权益比越低杠杆越低 | 2.54× | 3.98× |
8季度趋势，按日历期对齐
现金及短期投资AFRMCON
| Q4 25 | $1.5B | $79.9M | ||
| Q3 25 | $1.4B | $49.9M | ||
| Q2 25 | $1.4B | $73.9M | ||
| Q1 25 | $1.4B | $52.1M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | $136.8M | ||
| Q2 24 | $1.0B | $50.7M | ||
| Q1 24 | $1.3B | — |
总债务AFRMCON
| Q4 25 | $9.0B | $1.6B | ||
| Q3 25 | $7.7B | $1.6B | ||
| Q2 25 | $7.6B | $1.7B | ||
| Q1 25 | $7.1B | $1.6B | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | $1.8B | $3.0M | ||
| Q1 24 | — | — |
股东权益AFRMCON
| Q4 25 | $3.5B | $393.3M | ||
| Q3 25 | $3.3B | $385.5M | ||
| Q2 25 | $3.1B | $342.6M | ||
| Q1 25 | $2.9B | $307.1M | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.8B | $277.8M | ||
| Q2 24 | $2.7B | $1.2B | ||
| Q1 24 | $2.6B | — |
总资产AFRMCON
| Q4 25 | $13.0B | $2.9B | ||
| Q3 25 | $11.5B | $2.8B | ||
| Q2 25 | $11.2B | $2.8B | ||
| Q1 25 | $10.4B | $2.7B | ||
| Q4 24 | $10.5B | — | ||
| Q3 24 | $10.1B | $2.5B | ||
| Q2 24 | $9.5B | $2.4B | ||
| Q1 24 | $9.2B | — |
负债/权益比AFRMCON
| Q4 25 | 2.54× | 3.98× | ||
| Q3 25 | 2.35× | 4.15× | ||
| Q2 25 | 2.48× | 4.82× | ||
| Q1 25 | 2.49× | 5.27× | ||
| Q4 24 | 2.62× | — | ||
| Q3 24 | — | 5.30× | ||
| Q2 24 | 0.67× | 0.00× | ||
| 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 | $118.7M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $98.5M |
| 自由现金流率自由现金流/营收 | 29.4% | 18.3% |
| 资本支出强度资本支出/营收 | 13.9% | 3.7% |
| 现金转化率经营现金流/净利润 | 1.34× | 3.42× |
| 过去12个月自由现金流最近4个季度 | $619.1M | $197.1M |
8季度趋势，按日历期对齐
经营现金流AFRMCON
| Q4 25 | $173.7M | $118.7M | ||
| Q3 25 | $374.6M | $60.6M | ||
| Q2 25 | $74.6M | $88.4M | ||
| Q1 25 | $210.4M | $11.7M | ||
| Q4 24 | $312.0M | — | ||
| Q3 24 | $196.9M | $65.9M | ||
| Q2 24 | $68.8M | — | ||
| Q1 24 | $208.2M | — |
自由现金流AFRMCON
| Q4 25 | $118.0M | $98.5M | ||
| Q3 25 | $320.2M | $39.4M | ||
| Q2 25 | $23.5M | $63.2M | ||
| Q1 25 | $157.4M | $-4.0M | ||
| Q4 24 | $268.1M | — | ||
| Q3 24 | $152.7M | $50.8M | ||
| Q2 24 | $30.5M | — | ||
| Q1 24 | $161.7M | — |
自由现金流率AFRMCON
| Q4 25 | 29.4% | 18.3% | ||
| Q3 25 | 99.9% | 6.9% | ||
| Q2 25 | 7.7% | 11.5% | ||
| Q1 25 | 57.7% | -0.8% | ||
| Q4 24 | 88.5% | — | ||
| Q3 24 | 65.9% | 10.4% | ||
| Q2 24 | 13.6% | — | ||
| Q1 24 | 82.9% | — |
资本支出强度AFRMCON
| Q4 25 | 13.9% | 3.7% | ||
| Q3 25 | 17.0% | 3.7% | ||
| Q2 25 | 16.7% | 4.6% | ||
| Q1 25 | 19.5% | 3.1% | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 19.0% | 3.1% | ||
| Q2 24 | 17.1% | — | ||
| Q1 24 | 23.8% | — |
现金转化率AFRMCON
| Q4 25 | 1.34× | 3.42× | ||
| Q3 25 | 4.64× | 1.26× | ||
| Q2 25 | 1.08× | 1.98× | ||
| Q1 25 | 75.03× | 0.30× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | 1.49× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
CON
| Occupational Health Center Workers Compensation | $328.5M | 61% |
| Occupational Health Center Employer Services | $151.9M | 28% |
| Onsite Health Clinics | $36.2M | 7% |
| Other Businesses | $12.3M | 2% |
| Occupational Health Center Consumer Health | $8.1M | 2% |
| Occupational Health Center Other | $2.1M | 0% |
