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Affirm Holdings, Inc.（AFRM）与LifeStance Health Group, Inc.（LFST）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LifeStance Health Group, Inc.的1.1倍（$401.4M vs $382.2M），Affirm Holdings, Inc.净利率更高（32.3% vs 3.1%，领先29.2%），Affirm Holdings, Inc.同比增速更快（32.5% vs 17.4%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $46.6M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 12.8%）
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。
LifeStance Health Group是美国的门诊行为健康服务提供商，支持线下面诊与远程诊疗两种服务模式，业务涵盖心理咨询、精神科诊疗、经颅磁刺激（TMS）以及氯胺酮治疗等。该公司曾多次因劳动违规、客户信息泄露及误导投资者相关问题遭遇诉讼。
AFRM vs LFST — 直观对比
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $382.2M |
| 净利润 | $129.6M | $11.7M |
| 毛利率 | — | — |
| 营业利润率 | 29.3% | 4.7% |
| 净利率 | 32.3% | 3.1% |
| 营收同比 | 32.5% | 17.4% |
| 净利润同比 | 61.3% | 264.1% |
| 每股收益（稀释后） | $0.37 | — |
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
| Q4 25 | $401.4M | $382.2M | ||
| Q3 25 | $320.5M | $363.8M | ||
| Q2 25 | $306.6M | $345.3M | ||
| Q1 25 | $272.5M | $333.0M | ||
| Q4 24 | $303.0M | $325.5M | ||
| Q3 24 | $231.8M | $312.7M | ||
| Q2 24 | $224.0M | $312.3M | ||
| Q1 24 | $195.0M | $300.4M |
| Q4 25 | $129.6M | $11.7M | ||
| Q3 25 | $80.7M | $1.1M | ||
| Q2 25 | $69.2M | $-3.8M | ||
| Q1 25 | $2.8M | $709.0K | ||
| Q4 24 | $80.4M | $-7.1M | ||
| Q3 24 | $-100.2M | $-6.0M | ||
| Q2 24 | $-45.1M | $-23.3M | ||
| Q1 24 | $-133.9M | $-21.1M |
| Q4 25 | 29.3% | 4.7% | ||
| Q3 25 | 19.9% | 2.0% | ||
| Q2 25 | 18.9% | -0.9% | ||
| Q1 25 | -3.1% | 0.5% | ||
| Q4 24 | -1.4% | 0.3% | ||
| Q3 24 | -57.2% | 0.0% | ||
| Q2 24 | -32.8% | -5.1% | ||
| Q1 24 | -82.5% | -5.6% |
| Q4 25 | 32.3% | 3.1% | ||
| Q3 25 | 25.2% | 0.3% | ||
| Q2 25 | 22.6% | -1.1% | ||
| Q1 25 | 1.0% | 0.2% | ||
| Q4 24 | 26.5% | -2.2% | ||
| Q3 24 | -43.2% | -1.9% | ||
| Q2 24 | -20.2% | -7.5% | ||
| Q1 24 | -68.7% | -7.0% |
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.23 | — | ||
| Q2 25 | $0.22 | — | ||
| Q1 25 | $0.01 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $-0.31 | — | ||
| Q2 24 | $-0.13 | — | ||
| 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 | $248.6M |
| 总债务越低越好 | $9.0B | $282.8M |
| 股东权益账面价值 | $3.5B | $1.5B |
| 总资产 | $13.0B | $2.2B |
| 负债/权益比越低杠杆越低 | 2.54× | 0.19× |
8季度趋势，按日历期对齐
| Q4 25 | $1.5B | $248.6M | ||
| Q3 25 | $1.4B | $203.9M | ||
| Q2 25 | $1.4B | $188.9M | ||
| Q1 25 | $1.4B | $134.3M | ||
| Q4 24 | $1.2B | $154.6M | ||
| Q3 24 | $1.0B | $102.6M | ||
| Q2 24 | $1.0B | $87.0M | ||
| Q1 24 | $1.3B | $49.5M |
| Q4 25 | $9.0B | $282.8M | ||
| Q3 25 | $7.7B | $284.6M | ||
| Q2 25 | $7.6B | $286.4M | ||
| Q1 25 | $7.1B | $288.2M | ||
| Q4 24 | $7.3B | $290.0M | ||
| Q3 24 | — | $287.3M | ||
| Q2 24 | $1.8B | $288.0M | ||
| Q1 24 | — | $288.8M |
| Q4 25 | $3.5B | $1.5B | ||
| Q3 25 | $3.3B | $1.5B | ||
| Q2 25 | $3.1B | $1.5B | ||
| Q1 25 | $2.9B | $1.5B | ||
| Q4 24 | $2.8B | $1.4B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $2.7B | $1.4B | ||
| Q1 24 | $2.6B | $1.4B |
| Q4 25 | $13.0B | $2.2B | ||
| Q3 25 | $11.5B | $2.1B | ||
| Q2 25 | $11.2B | $2.1B | ||
| Q1 25 | $10.4B | $2.1B | ||
| Q4 24 | $10.5B | $2.1B | ||
| Q3 24 | $10.1B | $2.1B | ||
| Q2 24 | $9.5B | $2.1B | ||
| Q1 24 | $9.2B | $2.1B |
| Q4 25 | 2.54× | 0.19× | ||
| Q3 25 | 2.35× | 0.19× | ||
| Q2 25 | 2.48× | 0.19× | ||
| Q1 25 | 2.49× | 0.20× | ||
| Q4 24 | 2.62× | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | 0.67× | 0.20× | ||
| Q1 24 | — | 0.20× |
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 | $57.6M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $46.6M |
| 自由现金流率自由现金流/营收 | 29.4% | 12.2% |
| 资本支出强度资本支出/营收 | 13.9% | 2.9% |
| 现金转化率经营现金流/净利润 | 1.34× | 4.93× |
| 过去12个月自由现金流最近4个季度 | $619.1M | $110.0M |
8季度趋势，按日历期对齐
| Q4 25 | $173.7M | $57.6M | ||
| Q3 25 | $374.6M | $27.3M | ||
| Q2 25 | $74.6M | $64.4M | ||
| Q1 25 | $210.4M | $-3.1M | ||
| Q4 24 | $312.0M | $62.3M | ||
| Q3 24 | $196.9M | $22.7M | ||
| Q2 24 | $68.8M | $44.1M | ||
| Q1 24 | $208.2M | $-21.8M |
| Q4 25 | $118.0M | $46.6M | ||
| Q3 25 | $320.2M | $17.0M | ||
| Q2 25 | $23.5M | $56.6M | ||
| Q1 25 | $157.4M | $-10.3M | ||
| Q4 24 | $268.1M | $56.0M | ||
| Q3 24 | $152.7M | $17.7M | ||
| Q2 24 | $30.5M | $39.0M | ||
| Q1 24 | $161.7M | $-26.9M |
| Q4 25 | 29.4% | 12.2% | ||
| Q3 25 | 99.9% | 4.7% | ||
| Q2 25 | 7.7% | 16.4% | ||
| Q1 25 | 57.7% | -3.1% | ||
| Q4 24 | 88.5% | 17.2% | ||
| Q3 24 | 65.9% | 5.7% | ||
| Q2 24 | 13.6% | 12.5% | ||
| Q1 24 | 82.9% | -9.0% |
| Q4 25 | 13.9% | 2.9% | ||
| Q3 25 | 17.0% | 2.8% | ||
| Q2 25 | 16.7% | 2.2% | ||
| Q1 25 | 19.5% | 2.2% | ||
| Q4 24 | 14.5% | 1.9% | ||
| Q3 24 | 19.0% | 1.6% | ||
| Q2 24 | 17.1% | 1.6% | ||
| Q1 24 | 23.8% | 1.7% |
| Q4 25 | 1.34× | 4.93× | ||
| Q3 25 | 4.64× | 25.34× | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | -4.36× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | — | ||
| 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% |
LFST
暂无分部数据
