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Affirm Holdings, Inc.（AFRM）与Orthofix Medical Inc.（OFIX）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Orthofix Medical Inc.的1.8倍（$401.4M vs $219.9M），Affirm Holdings, Inc.净利率更高（32.3% vs -1.0%，领先33.3%），Affirm Holdings, Inc.同比增速更快（32.5% vs 2.0%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $16.8M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 8.0%）
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。
Orthofix医疗是全球知名骨科医疗器械企业，专注于研发、生产及销售脊柱植入物、骨科创伤产品、骨生长刺激治疗设备及再生医疗产品，服务全球多地的骨科医师与医疗机构，致力于提升肌肉骨骼疾病患者的诊疗效果。
AFRM vs OFIX — 直观对比
营收规模更大
AFRM
是对方的1.8倍
$219.9M
营收增速更快
AFRM
高出30.5%
2.0%
净利率更高
AFRM
高出33.3%
-1.0%
自由现金流更多
AFRM
多$101.2M
$16.8M
两年增速更快
AFRM
近两年复合增速
8.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $219.9M |
| 净利润 | $129.6M | $-2.2M |
| 毛利率 | — | 71.1% |
| 营业利润率 | 29.3% | 0.2% |
| 净利率 | 32.3% | -1.0% |
| 营收同比 | 32.5% | 2.0% |
| 净利润同比 | 61.3% | 92.4% |
| 每股收益（稀释后） | $0.37 | $-0.05 |
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AFRMOFIX
| Q4 25 | $401.4M | $219.9M | ||
| Q3 25 | $320.5M | $205.6M | ||
| Q2 25 | $306.6M | $203.1M | ||
| Q1 25 | $272.5M | $193.6M | ||
| Q4 24 | $303.0M | $215.7M | ||
| Q3 24 | $231.8M | $196.6M | ||
| Q2 24 | $224.0M | $198.6M | ||
| Q1 24 | $195.0M | $188.6M |
净利润AFRMOFIX
| Q4 25 | $129.6M | $-2.2M | ||
| Q3 25 | $80.7M | $-22.8M | ||
| Q2 25 | $69.2M | $-14.1M | ||
| Q1 25 | $2.8M | $-53.1M | ||
| Q4 24 | $80.4M | $-29.1M | ||
| Q3 24 | $-100.2M | $-27.4M | ||
| Q2 24 | $-45.1M | $-33.4M | ||
| Q1 24 | $-133.9M | $-36.0M |
毛利率AFRMOFIX
| Q4 25 | — | 71.1% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 68.7% | ||
| Q1 25 | — | 62.8% | ||
| Q4 24 | — | 69.0% | ||
| Q3 24 | — | 68.7% | ||
| Q2 24 | — | 67.8% | ||
| Q1 24 | — | 67.5% |
营业利润率AFRMOFIX
| Q4 25 | 29.3% | 0.2% | ||
| Q3 25 | 19.9% | -8.3% | ||
| Q2 25 | 18.9% | -7.9% | ||
| Q1 25 | -3.1% | -25.2% | ||
| Q4 24 | -1.4% | -5.3% | ||
| Q3 24 | -57.2% | -9.6% | ||
| Q2 24 | -32.8% | -12.5% | ||
| Q1 24 | -82.5% | -15.6% |
净利率AFRMOFIX
| Q4 25 | 32.3% | -1.0% | ||
| Q3 25 | 25.2% | -11.1% | ||
| Q2 25 | 22.6% | -6.9% | ||
| Q1 25 | 1.0% | -27.4% | ||
| Q4 24 | 26.5% | -13.5% | ||
| Q3 24 | -43.2% | -13.9% | ||
| Q2 24 | -20.2% | -16.8% | ||
| Q1 24 | -68.7% | -19.1% |
每股收益（稀释后）AFRMOFIX
| Q4 25 | $0.37 | $-0.05 | ||
| Q3 25 | $0.23 | $-0.57 | ||
| Q2 25 | $0.22 | $-0.36 | ||
| Q1 25 | $0.01 | $-1.35 | ||
| Q4 24 | $0.23 | $-0.76 | ||
| Q3 24 | $-0.31 | $-0.71 | ||
| Q2 24 | $-0.13 | $-0.88 | ||
| Q1 24 | $-0.43 | $-0.95 |
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 | $82.0M |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $450.0M |
| 总资产 | $13.0B | $850.6M |
| 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AFRMOFIX
| Q4 25 | $1.5B | $82.0M | ||
| Q3 25 | $1.4B | $62.9M | ||
| Q2 25 | $1.4B | $65.6M | ||
| Q1 25 | $1.4B | $58.0M | ||
| Q4 24 | $1.2B | $83.2M | ||
| Q3 24 | $1.0B | $30.1M | ||
| Q2 24 | $1.0B | $26.4M | ||
| Q1 24 | $1.3B | $27.0M |
总债务AFRMOFIX
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | $157.2M | ||
| Q2 25 | $7.6B | $157.0M | ||
| Q1 25 | $7.1B | $156.9M | ||
| Q4 24 | $7.3B | $157.0M | ||
| Q3 24 | — | $118.5M | ||
| Q2 24 | $1.8B | $118.0M | ||
| Q1 24 | — | $118.2M |
股东权益AFRMOFIX
| Q4 25 | $3.5B | $450.0M | ||
| Q3 25 | $3.3B | $442.5M | ||
| Q2 25 | $3.1B | $458.3M | ||
| Q1 25 | $2.9B | $458.3M | ||
| Q4 24 | $2.8B | $503.1M | ||
| Q3 24 | $2.8B | $525.9M | ||
| Q2 24 | $2.7B | $546.0M | ||
| Q1 24 | $2.6B | $570.3M |
总资产AFRMOFIX
| Q4 25 | $13.0B | $850.6M | ||
| Q3 25 | $11.5B | $832.6M | ||
| Q2 25 | $11.2B | $837.2M | ||
| Q1 25 | $10.4B | $823.1M | ||
| Q4 24 | $10.5B | $893.3M | ||
| Q3 24 | $10.1B | $867.9M | ||
| Q2 24 | $9.5B | $882.0M | ||
| Q1 24 | $9.2B | $906.0M |
负债/权益比AFRMOFIX
| Q4 25 | 2.54× | — | ||
| Q3 25 | 2.35× | 0.36× | ||
| Q2 25 | 2.48× | 0.34× | ||
| Q1 25 | 2.49× | 0.34× | ||
| Q4 24 | 2.62× | 0.31× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | 0.67× | 0.22× | ||
| Q1 24 | — | 0.21× |
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 | $27.7M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $16.8M |
| 自由现金流率自由现金流/营收 | 29.4% | 7.6% |
| 资本支出强度资本支出/营收 | 13.9% | 4.9% |
| 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 | $-1.3M |
8季度趋势，按日历期对齐
经营现金流AFRMOFIX
| Q4 25 | $173.7M | $27.7M | ||
| Q3 25 | $374.6M | $12.4M | ||
| Q2 25 | $74.6M | $11.6M | ||
| Q1 25 | $210.4M | $-18.4M | ||
| Q4 24 | $312.0M | $23.7M | ||
| Q3 24 | $196.9M | $11.7M | ||
| Q2 24 | $68.8M | $9.0M | ||
| Q1 24 | $208.2M | $-18.6M |
自由现金流AFRMOFIX
| Q4 25 | $118.0M | $16.8M | ||
| Q3 25 | $320.2M | $2.5M | ||
| Q2 25 | $23.5M | $4.5M | ||
| Q1 25 | $157.4M | $-25.1M | ||
| Q4 24 | $268.1M | $15.2M | ||
| Q3 24 | $152.7M | $6.3M | ||
| Q2 24 | $30.5M | $-360.0K | ||
| Q1 24 | $161.7M | $-29.1M |
自由现金流率AFRMOFIX
| Q4 25 | 29.4% | 7.6% | ||
| Q3 25 | 99.9% | 1.2% | ||
| Q2 25 | 7.7% | 2.2% | ||
| Q1 25 | 57.7% | -13.0% | ||
| Q4 24 | 88.5% | 7.0% | ||
| Q3 24 | 65.9% | 3.2% | ||
| Q2 24 | 13.6% | -0.2% | ||
| Q1 24 | 82.9% | -15.4% |
资本支出强度AFRMOFIX
| Q4 25 | 13.9% | 4.9% | ||
| Q3 25 | 17.0% | 4.8% | ||
| Q2 25 | 16.7% | 3.5% | ||
| Q1 25 | 19.5% | 3.5% | ||
| Q4 24 | 14.5% | 4.0% | ||
| Q3 24 | 19.0% | 2.7% | ||
| Q2 24 | 17.1% | 4.7% | ||
| Q1 24 | 23.8% | 5.6% |
现金转化率AFRMOFIX
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | — | ||
| 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% |
OFIX
| Spinal Implants Biologics And Enabling Technologies | $113.6M | 52% |
| Bone Growth Therapies | $68.3M | 31% |
| Other | $22.7M | 10% |
| IT | $5.9M | 3% |
| GB | $3.5M | 2% |
| FR | $3.5M | 2% |
| DE | $2.3M | 1% |
