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Affirm Holdings, Inc.（AFRM）与Penguin Solutions, Inc.（PENG）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Penguin Solutions, Inc.的1.2倍（$401.4M vs $343.1M），Affirm Holdings, Inc.净利率更高（32.3% vs 1.5%，领先30.7%），Affirm Holdings, Inc.同比增速更快（32.5% vs 0.6%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $28.2M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 11.8%）
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。
企鹅解决方案公司旗下的兰波集团以拉姆齐解决方案品牌开展业务，是一家美国企业，业务涵盖个人理财、领导力发展、人际关系管理与职业发展相关产品与服务。该公司由戴夫·拉姆齐与妻子莎伦于1991年创立，总部位于田纳西州富兰克林。
AFRM vs PENG — 直观对比
营收规模更大
AFRM
是对方的1.2倍
$343.1M
营收增速更快
AFRM
高出31.9%
0.6%
净利率更高
AFRM
高出30.7%
1.5%
自由现金流更多
AFRM
多$89.8M
$28.2M
两年增速更快
AFRM
近两年复合增速
11.8%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $343.1M |
| 净利润 | $129.6M | $5.3M |
| 毛利率 | — | 28.0% |
| 营业利润率 | 29.3% | 5.7% |
| 净利率 | 32.3% | 1.5% |
| 营收同比 | 32.5% | 0.6% |
| 净利润同比 | 61.3% | 1.0% |
| 每股收益（稀释后） | $0.37 | $0.04 |
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AFRMPENG
| Q4 25 | $401.4M | $343.1M | ||
| Q3 25 | $320.5M | $337.9M | ||
| Q2 25 | $306.6M | $324.3M | ||
| Q1 25 | $272.5M | $365.5M | ||
| Q4 24 | $303.0M | $341.1M | ||
| Q3 24 | $231.8M | $284.8M | ||
| Q2 24 | $224.0M | $300.6M | ||
| Q1 24 | $195.0M | — |
净利润AFRMPENG
| Q4 25 | $129.6M | $5.3M | ||
| Q3 25 | $80.7M | $9.4M | ||
| Q2 25 | $69.2M | $2.7M | ||
| Q1 25 | $2.8M | $8.1M | ||
| Q4 24 | $80.4M | $5.2M | ||
| Q3 24 | $-100.2M | — | ||
| Q2 24 | $-45.1M | $5.6M | ||
| Q1 24 | $-133.9M | — |
毛利率AFRMPENG
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 28.6% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 28.6% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 28.8% | ||
| Q2 24 | — | 29.6% | ||
| Q1 24 | — | — |
营业利润率AFRMPENG
| Q4 25 | 29.3% | 5.7% | ||
| Q3 25 | 19.9% | 3.7% | ||
| Q2 25 | 18.9% | 3.0% | ||
| Q1 25 | -3.1% | 5.1% | ||
| Q4 24 | -1.4% | 5.1% | ||
| Q3 24 | -57.2% | -1.2% | ||
| Q2 24 | -32.8% | 3.8% | ||
| Q1 24 | -82.5% | — |
净利率AFRMPENG
| Q4 25 | 32.3% | 1.5% | ||
| Q3 25 | 25.2% | 2.8% | ||
| Q2 25 | 22.6% | 0.8% | ||
| Q1 25 | 1.0% | 2.2% | ||
| Q4 24 | 26.5% | 1.5% | ||
| Q3 24 | -43.2% | — | ||
| Q2 24 | -20.2% | 1.9% | ||
| Q1 24 | -68.7% | — |
每股收益（稀释后）AFRMPENG
| Q4 25 | $0.37 | $0.04 | ||
| Q3 25 | $0.23 | $0.10 | ||
| Q2 25 | $0.22 | $-0.01 | ||
| Q1 25 | $0.01 | $0.09 | ||
| Q4 24 | $0.23 | $0.10 | ||
| Q3 24 | $-0.31 | — | ||
| Q2 24 | $-0.13 | $0.10 | ||
| 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 | $461.5M |
| 总债务越低越好 | $9.0B | $462.3M |
| 股东权益账面价值 | $3.5B | $389.7M |
| 总资产 | $13.0B | $1.6B |
| 负债/权益比越低杠杆越低 | 2.54× | 1.19× |
8季度趋势，按日历期对齐
现金及短期投资AFRMPENG
| Q4 25 | $1.5B | $461.5M | ||
| Q3 25 | $1.4B | $453.8M | ||
| Q2 25 | $1.4B | $735.5M | ||
| Q1 25 | $1.4B | $647.0M | ||
| Q4 24 | $1.2B | $393.7M | ||
| Q3 24 | $1.0B | $389.5M | ||
| Q2 24 | $1.0B | $467.5M | ||
| Q1 24 | $1.3B | — |
总债务AFRMPENG
| Q4 25 | $9.0B | $462.3M | ||
| Q3 25 | $7.7B | $461.8M | ||
| Q2 25 | $7.6B | $659.5M | ||
| Q1 25 | $7.1B | $658.8M | ||
| Q4 24 | $7.3B | $658.1M | ||
| Q3 24 | — | $657.3M | ||
| Q2 24 | $1.8B | $667.0M | ||
| Q1 24 | — | — |
股东权益AFRMPENG
| Q4 25 | $3.5B | $389.7M | ||
| Q3 25 | $3.3B | $394.2M | ||
| Q2 25 | $3.1B | $584.8M | ||
| Q1 25 | $2.9B | $602.5M | ||
| Q4 24 | $2.8B | $400.4M | ||
| Q3 24 | $2.8B | $391.4M | ||
| Q2 24 | $2.7B | $423.4M | ||
| Q1 24 | $2.6B | — |
总资产AFRMPENG
| Q4 25 | $13.0B | $1.6B | ||
| Q3 25 | $11.5B | $1.6B | ||
| Q2 25 | $11.2B | $1.8B | ||
| Q1 25 | $10.4B | $1.8B | ||
| Q4 24 | $10.5B | $1.6B | ||
| Q3 24 | $10.1B | $1.5B | ||
| Q2 24 | $9.5B | $1.5B | ||
| Q1 24 | $9.2B | — |
负债/权益比AFRMPENG
| Q4 25 | 2.54× | 1.19× | ||
| Q3 25 | 2.35× | 1.17× | ||
| Q2 25 | 2.48× | 1.13× | ||
| Q1 25 | 2.49× | 1.09× | ||
| Q4 24 | 2.62× | 1.64× | ||
| Q3 24 | — | 1.68× | ||
| Q2 24 | 0.67× | 1.58× | ||
| 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 | $31.1M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $28.2M |
| 自由现金流率自由现金流/营收 | 29.4% | 8.2% |
| 资本支出强度资本支出/营收 | 13.9% | 0.8% |
| 现金转化率经营现金流/净利润 | 1.34× | 5.89× |
| 过去12个月自由现金流最近4个季度 | $619.1M | $116.3M |
8季度趋势，按日历期对齐
经营现金流AFRMPENG
| Q4 25 | $173.7M | $31.1M | ||
| Q3 25 | $374.6M | $-70.4M | ||
| Q2 25 | $74.6M | $92.8M | ||
| Q1 25 | $210.4M | $72.9M | ||
| Q4 24 | $312.0M | $13.8M | ||
| Q3 24 | $196.9M | — | ||
| Q2 24 | $68.8M | $57.9M | ||
| Q1 24 | $208.2M | — |
自由现金流AFRMPENG
| Q4 25 | $118.0M | $28.2M | ||
| Q3 25 | $320.2M | $-73.4M | ||
| Q2 25 | $23.5M | $90.9M | ||
| Q1 25 | $157.4M | $70.5M | ||
| Q4 24 | $268.1M | $12.0M | ||
| Q3 24 | $152.7M | — | ||
| Q2 24 | $30.5M | $48.9M | ||
| Q1 24 | $161.7M | — |
自由现金流率AFRMPENG
| Q4 25 | 29.4% | 8.2% | ||
| Q3 25 | 99.9% | -21.7% | ||
| Q2 25 | 7.7% | 28.0% | ||
| Q1 25 | 57.7% | 19.3% | ||
| Q4 24 | 88.5% | 3.5% | ||
| Q3 24 | 65.9% | — | ||
| Q2 24 | 13.6% | 16.3% | ||
| Q1 24 | 82.9% | — |
资本支出强度AFRMPENG
| Q4 25 | 13.9% | 0.8% | ||
| Q3 25 | 17.0% | 0.9% | ||
| Q2 25 | 16.7% | 0.6% | ||
| Q1 25 | 19.5% | 0.6% | ||
| Q4 24 | 14.5% | 0.5% | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 17.1% | 3.0% | ||
| Q1 24 | 23.8% | — |
现金转化率AFRMPENG
| Q4 25 | 1.34× | 5.89× | ||
| Q3 25 | 4.64× | -7.47× | ||
| Q2 25 | 1.08× | 34.88× | ||
| Q1 25 | 75.03× | 9.02× | ||
| Q4 24 | 3.88× | 2.65× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 10.30× | ||
| 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% |
PENG
| Integrated Memory Segment | $171.6M | 50% |
| Advanced Computing Segment | $115.7M | 34% |
| Optimized LED Segment | $55.7M | 16% |
