vs
Affirm Holdings, Inc.（AFRM）与Custom Truck One Source, Inc.（CTOS）财务数据对比。点击上方公司名可切换其他公司
Custom Truck One Source, Inc.的季度营收约是Affirm Holdings, Inc.的1.1倍（$422.2M vs $401.4M），Affirm Holdings, Inc.净利率更高（32.3% vs -4.2%，领先36.5%），Affirm Holdings, Inc.同比增速更快（32.5% vs -8.5%），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 14.8%）
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。
Custom Truck One Source是北美领先的专用重型卡车及设备解决方案提供商，业务覆盖定制车辆制造、设备销售与租赁、售后配件供应及维保服务，主要服务基建、公用事业、建筑、能源等核心领域。
AFRM vs CTOS — 直观对比
营收规模更大
CTOS
是对方的1.1倍
$401.4M
营收增速更快
AFRM
高出41.0%
-8.5%
净利率更高
AFRM
高出36.5%
-4.2%
两年增速更快
AFRM
近两年复合增速
14.8%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $422.2M |
| 净利润 | $129.6M | $-17.8M |
| 毛利率 | — | 20.3% |
| 营业利润率 | 29.3% | 2.9% |
| 净利率 | 32.3% | -4.2% |
| 营收同比 | 32.5% | -8.5% |
| 净利润同比 | 61.3% | -333.7% |
| 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AFRMCTOS
| Q1 26 | — | $422.2M | ||
| Q4 25 | $401.4M | $387.3M | ||
| Q3 25 | $320.5M | $359.9M | ||
| Q2 25 | $306.6M | $392.2M | ||
| Q1 25 | $272.5M | $307.1M | ||
| Q4 24 | $303.0M | $398.3M | ||
| Q3 24 | $231.8M | $337.5M | ||
| Q2 24 | $224.0M | $320.6M |
净利润AFRMCTOS
| Q1 26 | — | $-17.8M | ||
| Q4 25 | $129.6M | $20.9M | ||
| Q3 25 | $80.7M | $-5.8M | ||
| Q2 25 | $69.2M | $-28.4M | ||
| Q1 25 | $2.8M | $-17.8M | ||
| Q4 24 | $80.4M | $27.6M | ||
| Q3 24 | $-100.2M | $-17.4M | ||
| Q2 24 | $-45.1M | $-24.5M |
毛利率AFRMCTOS
| Q1 26 | — | 20.3% | ||
| Q4 25 | — | 31.8% | ||
| Q3 25 | — | 28.0% | ||
| Q2 25 | — | 26.1% | ||
| Q1 25 | — | 27.9% | ||
| Q4 24 | — | 29.7% | ||
| Q3 24 | — | 27.2% | ||
| Q2 24 | — | 27.8% |
营业利润率AFRMCTOS
| Q1 26 | — | 2.9% | ||
| Q4 25 | 29.3% | 13.4% | ||
| Q3 25 | 19.9% | 9.1% | ||
| Q2 25 | 18.9% | 7.1% | ||
| Q1 25 | -3.1% | 4.0% | ||
| Q4 24 | -1.4% | 16.9% | ||
| Q3 24 | -57.2% | 6.8% | ||
| Q2 24 | -32.8% | 5.5% |
净利率AFRMCTOS
| Q1 26 | — | -4.2% | ||
| Q4 25 | 32.3% | 5.4% | ||
| Q3 25 | 25.2% | -1.6% | ||
| Q2 25 | 22.6% | -7.2% | ||
| Q1 25 | 1.0% | -5.8% | ||
| Q4 24 | 26.5% | 6.9% | ||
| Q3 24 | -43.2% | -5.2% | ||
| Q2 24 | -20.2% | -7.6% |
每股收益（稀释后）AFRMCTOS
| Q1 26 | — | $-0.08 | ||
| Q4 25 | $0.37 | $0.10 | ||
| Q3 25 | $0.23 | $-0.03 | ||
| Q2 25 | $0.22 | $-0.13 | ||
| Q1 25 | $0.01 | $-0.08 | ||
| Q4 24 | $0.23 | $0.11 | ||
| Q3 24 | $-0.31 | $-0.07 | ||
| Q2 24 | $-0.13 | $-0.10 |
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 | $6.3M |
| 总债务越低越好 | $9.0B | $25.9M |
| 股东权益账面价值 | $3.5B | $809.1M |
| 总资产 | $13.0B | $3.4B |
| 负债/权益比越低杠杆越低 | 2.54× | 0.03× |
8季度趋势，按日历期对齐
现金及短期投资AFRMCTOS
| Q1 26 | — | $6.3M | ||
| Q4 25 | $1.5B | $6.3M | ||
| Q3 25 | $1.4B | $13.1M | ||
| Q2 25 | $1.4B | $5.3M | ||
| Q1 25 | $1.4B | $5.4M | ||
| Q4 24 | $1.2B | $3.8M | ||
| Q3 24 | $1.0B | $8.4M | ||
| Q2 24 | $1.0B | $8.1M |
总债务AFRMCTOS
| Q1 26 | — | $25.9M | ||
| Q4 25 | $9.0B | $1.6B | ||
| Q3 25 | $7.7B | $1.6B | ||
| Q2 25 | $7.6B | $1.6B | ||
| Q1 25 | $7.1B | $1.6B | ||
| Q4 24 | $7.3B | $1.5B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $1.8B | $1.5B |
股东权益AFRMCTOS
| Q1 26 | — | $809.1M | ||
| Q4 25 | $3.5B | $809.1M | ||
| Q3 25 | $3.3B | $784.7M | ||
| Q2 25 | $3.1B | $790.1M | ||
| Q1 25 | $2.9B | $813.4M | ||
| Q4 24 | $2.8B | $861.3M | ||
| Q3 24 | $2.8B | $837.5M | ||
| Q2 24 | $2.7B | $856.7M |
总资产AFRMCTOS
| Q1 26 | — | $3.4B | ||
| Q4 25 | $13.0B | $3.4B | ||
| Q3 25 | $11.5B | $3.5B | ||
| Q2 25 | $11.2B | $3.6B | ||
| Q1 25 | $10.4B | $3.5B | ||
| Q4 24 | $10.5B | $3.5B | ||
| Q3 24 | $10.1B | $3.6B | ||
| Q2 24 | $9.5B | $3.5B |
负债/权益比AFRMCTOS
| Q1 26 | — | 0.03× | ||
| Q4 25 | 2.54× | 2.03× | ||
| Q3 25 | 2.35× | 2.10× | ||
| Q2 25 | 2.48× | 2.04× | ||
| Q1 25 | 2.49× | 1.97× | ||
| Q4 24 | 2.62× | 1.77× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | 0.67× | 1.79× |
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 | — |
| 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× | — |
| 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AFRMCTOS
| Q1 26 | — | — | ||
| Q4 25 | $173.7M | $47.3M | ||
| Q3 25 | $374.6M | $81.5M | ||
| Q2 25 | $74.6M | $125.7M | ||
| Q1 25 | $210.4M | $55.6M | ||
| Q4 24 | $312.0M | $82.1M | ||
| Q3 24 | $196.9M | $16.5M | ||
| Q2 24 | $68.8M | $37.8M |
自由现金流AFRMCTOS
| Q1 26 | — | — | ||
| 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AFRMCTOS
| Q1 26 | — | — | ||
| 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AFRMCTOS
| 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AFRMCTOS
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 2.27× | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | 2.98× | ||
| Q3 24 | — | — | ||
| Q2 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% |
CTOS
| Equipment sales | $273.9M | 65% |
| Rental revenue | $116.3M | 28% |
| Parts sales and services | $32.1M | 8% |
