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Affirm Holdings, Inc.（AFRM）与AMCON DISTRIBUTING CO（DIT）财务数据对比。点击上方公司名可切换其他公司
AMCON DISTRIBUTING CO的季度营收约是Affirm Holdings, Inc.的1.8倍（$730.1M vs $401.4M），Affirm Holdings, Inc.净利率更高（32.3% vs 0.1%，领先32.2%），Affirm Holdings, Inc.同比增速更快（32.5% vs 2.6%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $-12.4M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 10.1%）
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。
AMCON Distributing Co是一家总部位于美国的消费品分销企业，主营食品、饮料、美妆个护、烟草及日用百货的分销业务，主要服务美国本土的独立便利店、食品零售商、药店及其他小型零售网点。
AFRM vs DIT — 直观对比
营收规模更大
DIT
是对方的1.8倍
$401.4M
营收增速更快
AFRM
高出29.8%
2.6%
净利率更高
AFRM
高出32.2%
0.1%
自由现金流更多
AFRM
多$130.4M
$-12.4M
两年增速更快
AFRM
近两年复合增速
10.1%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $730.1M |
| 净利润 | $129.6M | $793.0K |
| 毛利率 | — | 6.6% |
| 营业利润率 | 29.3% | 0.5% |
| 净利率 | 32.3% | 0.1% |
| 营收同比 | 32.5% | 2.6% |
| 净利润同比 | 61.3% | 127.6% |
| 每股收益（稀释后） | $0.37 | $1.28 |
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AFRMDIT
| Q4 25 | $401.4M | $730.1M | ||
| Q3 25 | $320.5M | $746.3M | ||
| Q2 25 | $306.6M | $739.6M | ||
| Q1 25 | $272.5M | $619.5M | ||
| Q4 24 | $303.0M | $711.3M | ||
| Q3 24 | $231.8M | $746.3M | ||
| Q2 24 | $224.0M | $717.9M | ||
| Q1 24 | $195.0M | $601.9M |
净利润AFRMDIT
| Q4 25 | $129.6M | $793.0K | ||
| Q3 25 | $80.7M | $491.7K | ||
| Q2 25 | $69.2M | $1.3M | ||
| Q1 25 | $2.8M | $-1.6M | ||
| Q4 24 | $80.4M | $348.4K | ||
| Q3 24 | $-100.2M | $1.2M | ||
| Q2 24 | $-45.1M | $1.5M | ||
| Q1 24 | $-133.9M | $539.5K |
毛利率AFRMDIT
| Q4 25 | — | 6.6% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 6.7% | ||
| Q1 25 | — | 6.9% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | — | 6.5% | ||
| Q2 24 | — | 6.7% | ||
| Q1 24 | — | 7.0% |
营业利润率AFRMDIT
| Q4 25 | 29.3% | 0.5% | ||
| Q3 25 | 19.9% | 0.5% | ||
| Q2 25 | 18.9% | 0.7% | ||
| Q1 25 | -3.1% | 0.1% | ||
| Q4 24 | -1.4% | 0.5% | ||
| Q3 24 | -57.2% | 0.7% | ||
| Q2 24 | -32.8% | 0.8% | ||
| Q1 24 | -82.5% | 0.6% |
净利率AFRMDIT
| Q4 25 | 32.3% | 0.1% | ||
| Q3 25 | 25.2% | 0.1% | ||
| Q2 25 | 22.6% | 0.2% | ||
| Q1 25 | 1.0% | -0.3% | ||
| Q4 24 | 26.5% | 0.0% | ||
| Q3 24 | -43.2% | 0.2% | ||
| Q2 24 | -20.2% | 0.2% | ||
| Q1 24 | -68.7% | 0.1% |
每股收益（稀释后）AFRMDIT
| Q4 25 | $0.37 | $1.28 | ||
| Q3 25 | $0.23 | $0.80 | ||
| Q2 25 | $0.22 | $2.13 | ||
| Q1 25 | $0.01 | $-2.58 | ||
| Q4 24 | $0.23 | $0.57 | ||
| Q3 24 | $-0.31 | $2.02 | ||
| Q2 24 | $-0.13 | $2.46 | ||
| Q1 24 | $-0.43 | $0.89 |
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 | — |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $114.1M |
| 总资产 | $13.0B | $378.7M |
| 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AFRMDIT
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.3B | — |
总债务AFRMDIT
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | $16.5M | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | $21.8M | ||
| Q2 24 | $1.8B | $23.3M | ||
| Q1 24 | — | $20.5M |
股东权益AFRMDIT
| Q4 25 | $3.5B | $114.1M | ||
| Q3 25 | $3.3B | $113.1M | ||
| Q2 25 | $3.1B | $113.2M | ||
| Q1 25 | $2.9B | $111.4M | ||
| Q4 24 | $2.8B | $112.4M | ||
| Q3 24 | $2.8B | $111.7M | ||
| Q2 24 | $2.7B | $110.0M | ||
| Q1 24 | $2.6B | $108.0M |
总资产AFRMDIT
| Q4 25 | $13.0B | $378.7M | ||
| Q3 25 | $11.5B | $391.1M | ||
| Q2 25 | $11.2B | $393.9M | ||
| Q1 25 | $10.4B | $392.0M | ||
| Q4 24 | $10.5B | $404.7M | ||
| Q3 24 | $10.1B | $374.1M | ||
| Q2 24 | $9.5B | $400.6M | ||
| Q1 24 | $9.2B | $336.2M |
负债/权益比AFRMDIT
| Q4 25 | 2.54× | — | ||
| Q3 25 | 2.35× | 0.15× | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 2.49× | — | ||
| Q4 24 | 2.62× | — | ||
| Q3 24 | — | 0.19× | ||
| Q2 24 | 0.67× | 0.21× | ||
| Q1 24 | — | 0.19× |
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 | $-11.7M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $-12.4M |
| 自由现金流率自由现金流/营收 | 29.4% | -1.7% |
| 资本支出强度资本支出/营收 | 13.9% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.34× | -14.75× |
| 过去12个月自由现金流最近4个季度 | $619.1M | $40.6M |
8季度趋势，按日历期对齐
经营现金流AFRMDIT
| Q4 25 | $173.7M | $-11.7M | ||
| Q3 25 | $374.6M | $31.1M | ||
| Q2 25 | $74.6M | $-7.0M | ||
| Q1 25 | $210.4M | $34.4M | ||
| Q4 24 | $312.0M | $-39.9M | ||
| Q3 24 | $196.9M | $41.0M | ||
| Q2 24 | $68.8M | $-26.9M | ||
| Q1 24 | $208.2M | $48.8M |
自由现金流AFRMDIT
| Q4 25 | $118.0M | $-12.4M | ||
| Q3 25 | $320.2M | $30.4M | ||
| Q2 25 | $23.5M | $-8.8M | ||
| Q1 25 | $157.4M | $31.4M | ||
| Q4 24 | $268.1M | $-43.3M | ||
| Q3 24 | $152.7M | $37.4M | ||
| Q2 24 | $30.5M | $-32.6M | ||
| Q1 24 | $161.7M | $41.6M |
自由现金流率AFRMDIT
| Q4 25 | 29.4% | -1.7% | ||
| Q3 25 | 99.9% | 4.1% | ||
| Q2 25 | 7.7% | -1.2% | ||
| Q1 25 | 57.7% | 5.1% | ||
| Q4 24 | 88.5% | -6.1% | ||
| Q3 24 | 65.9% | 5.0% | ||
| Q2 24 | 13.6% | -4.5% | ||
| Q1 24 | 82.9% | 6.9% |
资本支出强度AFRMDIT
| Q4 25 | 13.9% | 0.1% | ||
| Q3 25 | 17.0% | 0.1% | ||
| Q2 25 | 16.7% | 0.2% | ||
| Q1 25 | 19.5% | 0.5% | ||
| Q4 24 | 14.5% | 0.5% | ||
| Q3 24 | 19.0% | 0.5% | ||
| Q2 24 | 17.1% | 0.8% | ||
| Q1 24 | 23.8% | 1.2% |
现金转化率AFRMDIT
| Q4 25 | 1.34× | -14.75× | ||
| Q3 25 | 4.64× | 63.32× | ||
| Q2 25 | 1.08× | -5.33× | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | -114.43× | ||
| Q3 24 | — | 33.16× | ||
| Q2 24 | — | -18.05× | ||
| Q1 24 | — | 90.37× |
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% |
DIT
| Cigarettes | $446.5M | 61% |
| Tobacco | $143.7M | 20% |
| Tobacco Food Service And Other | $82.3M | 11% |
| Confectionery | $46.7M | 6% |
| Retail Segment | $10.8M | 1% |
