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Affirm Holdings, Inc.（AFRM）与Fair Isaac（FICO）财务数据对比。点击上方公司名可切换其他公司
Fair Isaac的季度营收约是Affirm Holdings, Inc.的1.3倍（$512.0M vs $401.4M），Affirm Holdings, Inc.净利率更高（32.3% vs 30.9%，领先1.3%），Affirm Holdings, Inc.同比增速更快（32.5% vs 16.4%），Fair Isaac自由现金流更多（$173.9M vs $118.0M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 8.6%）
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。
FICO（原Fair, Isaac and Company）是美国知名数据分析企业，1956年由比尔·费尔与厄尔·艾萨克创立，总部位于蒙大拿州博兹曼市，核心业务为信用评分服务，其推出的FICO信用分是评估消费者信贷风险的重要指标，目前已被美国消费信贷行业广泛采用。
AFRM vs FICO — 直观对比
营收规模更大
FICO
是对方的1.3倍
$401.4M
营收增速更快
AFRM
高出16.1%
16.4%
净利率更高
AFRM
高出1.3%
30.9%
自由现金流更多
FICO
多$55.8M
$118.0M
两年增速更快
AFRM
近两年复合增速
8.6%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $512.0M |
| 净利润 | $129.6M | $158.4M |
| 毛利率 | — | 83.0% |
| 营业利润率 | 29.3% | 45.7% |
| 净利率 | 32.3% | 30.9% |
| 营收同比 | 32.5% | 16.4% |
| 净利润同比 | 61.3% | 3.8% |
| 每股收益（稀释后） | $0.37 | $6.61 |
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AFRMFICO
| Q4 25 | $401.4M | $512.0M | ||
| Q3 25 | $320.5M | $515.8M | ||
| Q2 25 | $306.6M | $536.4M | ||
| Q1 25 | $272.5M | $498.7M | ||
| Q4 24 | $303.0M | $440.0M | ||
| Q3 24 | $231.8M | $453.8M | ||
| Q2 24 | $224.0M | $447.8M | ||
| Q1 24 | $195.0M | $433.8M |
净利润AFRMFICO
| Q4 25 | $129.6M | $158.4M | ||
| Q3 25 | $80.7M | $155.0M | ||
| Q2 25 | $69.2M | $181.8M | ||
| Q1 25 | $2.8M | $162.6M | ||
| Q4 24 | $80.4M | $152.5M | ||
| Q3 24 | $-100.2M | $135.7M | ||
| Q2 24 | $-45.1M | $126.3M | ||
| Q1 24 | $-133.9M | $129.8M |
毛利率AFRMFICO
| Q4 25 | — | 83.0% | ||
| Q3 25 | — | 82.3% | ||
| Q2 25 | — | 83.7% | ||
| Q1 25 | — | 82.4% | ||
| Q4 24 | — | 80.1% | ||
| Q3 24 | — | 80.3% | ||
| Q2 24 | — | 80.3% | ||
| Q1 24 | — | 80.0% |
营业利润率AFRMFICO
| Q4 25 | 29.3% | 45.7% | ||
| Q3 25 | 19.9% | 46.0% | ||
| Q2 25 | 18.9% | 48.9% | ||
| Q1 25 | -3.1% | 49.3% | ||
| Q4 24 | -1.4% | 40.8% | ||
| Q3 24 | -57.2% | 43.4% | ||
| Q2 24 | -32.8% | 42.5% | ||
| Q1 24 | -82.5% | 44.9% |
净利率AFRMFICO
| Q4 25 | 32.3% | 30.9% | ||
| Q3 25 | 25.2% | 30.1% | ||
| Q2 25 | 22.6% | 33.9% | ||
| Q1 25 | 1.0% | 32.6% | ||
| Q4 24 | 26.5% | 34.7% | ||
| Q3 24 | -43.2% | 29.9% | ||
| Q2 24 | -20.2% | 28.2% | ||
| Q1 24 | -68.7% | 29.9% |
每股收益（稀释后）AFRMFICO
| Q4 25 | $0.37 | $6.61 | ||
| Q3 25 | $0.23 | $6.41 | ||
| Q2 25 | $0.22 | $7.40 | ||
| Q1 25 | $0.01 | $6.59 | ||
| Q4 24 | $0.23 | $6.14 | ||
| Q3 24 | $-0.31 | $5.44 | ||
| Q2 24 | $-0.13 | $5.05 | ||
| Q1 24 | $-0.43 | $5.16 |
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 | $162.0M |
| 总债务越低越好 | $9.0B | $3.2B |
| 股东权益账面价值 | $3.5B | $-1.8B |
| 总资产 | $13.0B | $1.9B |
| 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AFRMFICO
| Q4 25 | $1.5B | $162.0M | ||
| Q3 25 | $1.4B | $134.1M | ||
| Q2 25 | $1.4B | $189.0M | ||
| Q1 25 | $1.4B | $146.6M | ||
| Q4 24 | $1.2B | $184.3M | ||
| Q3 24 | $1.0B | $150.7M | ||
| Q2 24 | $1.0B | $156.0M | ||
| Q1 24 | $1.3B | $135.7M |
总债务AFRMFICO
| Q4 25 | $9.0B | $3.2B | ||
| Q3 25 | $7.7B | $3.1B | ||
| Q2 25 | $7.6B | $2.8B | ||
| Q1 25 | $7.1B | $2.5B | ||
| Q4 24 | $7.3B | $2.4B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | $1.8B | $2.1B | ||
| Q1 24 | — | $2.0B |
股东权益AFRMFICO
| Q4 25 | $3.5B | $-1.8B | ||
| Q3 25 | $3.3B | $-1.7B | ||
| Q2 25 | $3.1B | $-1.4B | ||
| Q1 25 | $2.9B | $-1.1B | ||
| Q4 24 | $2.8B | $-1.1B | ||
| Q3 24 | $2.8B | $-962.7M | ||
| Q2 24 | $2.7B | $-829.3M | ||
| Q1 24 | $2.6B | $-735.7M |
总资产AFRMFICO
| Q4 25 | $13.0B | $1.9B | ||
| Q3 25 | $11.5B | $1.9B | ||
| Q2 25 | $11.2B | $1.9B | ||
| Q1 25 | $10.4B | $1.8B | ||
| Q4 24 | $10.5B | $1.7B | ||
| Q3 24 | $10.1B | $1.7B | ||
| Q2 24 | $9.5B | $1.7B | ||
| Q1 24 | $9.2B | $1.7B |
负债/权益比AFRMFICO
| 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 | $174.1M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $173.9M |
| 自由现金流率自由现金流/营收 | 29.4% | 34.0% |
| 资本支出强度资本支出/营收 | 13.9% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.34× | 1.10× |
| 过去12个月自由现金流最近4个季度 | $619.1M | $750.6M |
8季度趋势，按日历期对齐
经营现金流AFRMFICO
| Q4 25 | $173.7M | $174.1M | ||
| Q3 25 | $374.6M | $223.7M | ||
| Q2 25 | $74.6M | $286.2M | ||
| Q1 25 | $210.4M | $74.9M | ||
| Q4 24 | $312.0M | $194.0M | ||
| Q3 24 | $196.9M | $226.5M | ||
| Q2 24 | $68.8M | $213.3M | ||
| Q1 24 | $208.2M | $71.0M |
自由现金流AFRMFICO
| Q4 25 | $118.0M | $173.9M | ||
| Q3 25 | $320.2M | $219.5M | ||
| Q2 25 | $23.5M | $284.4M | ||
| Q1 25 | $157.4M | $72.8M | ||
| Q4 24 | $268.1M | $193.2M | ||
| Q3 24 | $152.7M | $224.7M | ||
| Q2 24 | $30.5M | $211.6M | ||
| Q1 24 | $161.7M | $67.0M |
自由现金流率AFRMFICO
| Q4 25 | 29.4% | 34.0% | ||
| Q3 25 | 99.9% | 42.6% | ||
| Q2 25 | 7.7% | 53.0% | ||
| Q1 25 | 57.7% | 14.6% | ||
| Q4 24 | 88.5% | 43.9% | ||
| Q3 24 | 65.9% | 49.5% | ||
| Q2 24 | 13.6% | 47.2% | ||
| Q1 24 | 82.9% | 15.4% |
资本支出强度AFRMFICO
| Q4 25 | 13.9% | 0.0% | ||
| Q3 25 | 17.0% | 0.8% | ||
| Q2 25 | 16.7% | 0.3% | ||
| Q1 25 | 19.5% | 0.4% | ||
| Q4 24 | 14.5% | 0.2% | ||
| Q3 24 | 19.0% | 0.4% | ||
| Q2 24 | 17.1% | 0.4% | ||
| Q1 24 | 23.8% | 0.9% |
现金转化率AFRMFICO
| Q4 25 | 1.34× | 1.10× | ||
| Q3 25 | 4.64× | 1.44× | ||
| Q2 25 | 1.08× | 1.57× | ||
| Q1 25 | 75.03× | 0.46× | ||
| Q4 24 | 3.88× | 1.27× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 1.69× | ||
| Q1 24 | — | 0.55× |
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% |
FICO
| Business To Business Scores | $248.6M | 49% |
| Saa S Products | $115.7M | 23% |
| Platform Software | $73.9M | 14% |
| Business To Consumer Scores | $55.9M | 11% |
| Technology Service | $19.2M | 4% |
