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Affirm Holdings, Inc.（AFRM）与LiveRamp Holdings, Inc.（RAMP）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LiveRamp Holdings, Inc.的1.9倍（$401.4M vs $212.2M），Affirm Holdings, Inc.净利率更高（32.3% vs 18.8%，领先13.5%），Affirm Holdings, Inc.同比增速更快（32.5% vs 8.6%），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 11.1%）
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。
LiveRamp Holdings, Inc.是一家美国SaaS企业，核心业务为提供数据连接平台，服务涵盖数据导入、线下数据线上迁移等能力，助力企业开展营销相关的数据应用，为品牌及营销从业者的数字化运营提供技术支撑。
AFRM vs RAMP — 直观对比
营收规模更大
AFRM
是对方的1.9倍
$212.2M
营收增速更快
AFRM
高出23.9%
8.6%
净利率更高
AFRM
高出13.5%
18.8%
两年增速更快
AFRM
近两年复合增速
11.1%
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $212.2M |
| 净利润 | $129.6M | $39.9M |
| 毛利率 | — | 71.9% |
| 营业利润率 | 29.3% | 18.6% |
| 净利率 | 32.3% | 18.8% |
| 营收同比 | 32.5% | 8.6% |
| 净利润同比 | 61.3% | 255.7% |
| 每股收益（稀释后） | $0.37 | $0.62 |
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AFRMRAMP
| Q4 25 | $401.4M | $212.2M | ||
| Q3 25 | $320.5M | $199.8M | ||
| Q2 25 | $306.6M | $194.8M | ||
| Q1 25 | $272.5M | $188.7M | ||
| Q4 24 | $303.0M | $195.4M | ||
| Q3 24 | $231.8M | $185.5M | ||
| Q2 24 | $224.0M | $176.0M | ||
| Q1 24 | $195.0M | $171.9M |
净利润AFRMRAMP
| Q4 25 | $129.6M | $39.9M | ||
| Q3 25 | $80.7M | $27.4M | ||
| Q2 25 | $69.2M | $7.7M | ||
| Q1 25 | $2.8M | $-6.3M | ||
| Q4 24 | $80.4M | $11.2M | ||
| Q3 24 | $-100.2M | $1.7M | ||
| Q2 24 | $-45.1M | $-7.5M | ||
| Q1 24 | $-133.9M | $-5.4M |
毛利率AFRMRAMP
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 72.2% |
营业利润率AFRMRAMP
| Q4 25 | 29.3% | 18.6% | ||
| Q3 25 | 19.9% | 10.7% | ||
| Q2 25 | 18.9% | 3.7% | ||
| Q1 25 | -3.1% | -6.1% | ||
| Q4 24 | -1.4% | 7.5% | ||
| Q3 24 | -57.2% | 4.0% | ||
| Q2 24 | -32.8% | -3.0% | ||
| Q1 24 | -82.5% | -8.3% |
净利率AFRMRAMP
| Q4 25 | 32.3% | 18.8% | ||
| Q3 25 | 25.2% | 13.7% | ||
| Q2 25 | 22.6% | 4.0% | ||
| Q1 25 | 1.0% | -3.3% | ||
| Q4 24 | 26.5% | 5.7% | ||
| Q3 24 | -43.2% | 0.9% | ||
| Q2 24 | -20.2% | -4.3% | ||
| Q1 24 | -68.7% | -3.1% |
每股收益（稀释后）AFRMRAMP
| Q4 25 | $0.37 | $0.62 | ||
| Q3 25 | $0.23 | $0.42 | ||
| Q2 25 | $0.22 | $0.12 | ||
| Q1 25 | $0.01 | $-0.10 | ||
| Q4 24 | $0.23 | $0.17 | ||
| Q3 24 | $-0.31 | $0.03 | ||
| Q2 24 | $-0.13 | $-0.11 | ||
| Q1 24 | $-0.43 | $-0.09 |
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 | $403.4M |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $962.3M |
| 总资产 | $13.0B | $1.3B |
| 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AFRMRAMP
| Q4 25 | $1.5B | $403.4M | ||
| Q3 25 | $1.4B | $376.9M | ||
| Q2 25 | $1.4B | $371.1M | ||
| Q1 25 | $1.4B | $420.8M | ||
| Q4 24 | $1.2B | $384.3M | ||
| Q3 24 | $1.0B | $348.4M | ||
| Q2 24 | $1.0B | $342.7M | ||
| Q1 24 | $1.3B | $368.9M |
总债务AFRMRAMP
| Q4 25 | $9.0B | — | ||
| Q3 25 | $7.7B | — | ||
| Q2 25 | $7.6B | — | ||
| Q1 25 | $7.1B | — | ||
| Q4 24 | $7.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | — | — |
股东权益AFRMRAMP
| Q4 25 | $3.5B | $962.3M | ||
| Q3 25 | $3.3B | $943.8M | ||
| Q2 25 | $3.1B | $947.8M | ||
| Q1 25 | $2.9B | $948.9M | ||
| Q4 24 | $2.8B | $957.7M | ||
| Q3 24 | $2.8B | $932.1M | ||
| Q2 24 | $2.7B | $951.9M | ||
| Q1 24 | $2.6B | $949.1M |
总资产AFRMRAMP
| Q4 25 | $13.0B | $1.3B | ||
| Q3 25 | $11.5B | $1.2B | ||
| Q2 25 | $11.2B | $1.2B | ||
| Q1 25 | $10.4B | $1.3B | ||
| Q4 24 | $10.5B | $1.3B | ||
| Q3 24 | $10.1B | $1.2B | ||
| Q2 24 | $9.5B | $1.2B | ||
| Q1 24 | $9.2B | $1.2B |
负债/权益比AFRMRAMP
| 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 | — |
| 自由现金流经营现金流 - 资本支出 | $118.0M | — |
| 自由现金流率自由现金流/营收 | 29.4% | — |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | $619.1M | — |
8季度趋势，按日历期对齐
经营现金流AFRMRAMP
| Q4 25 | $173.7M | — | ||
| Q3 25 | $374.6M | $57.4M | ||
| Q2 25 | $74.6M | $-15.8M | ||
| Q1 25 | $210.4M | — | ||
| Q4 24 | $312.0M | $45.1M | ||
| Q3 24 | $196.9M | $55.6M | ||
| Q2 24 | $68.8M | $-9.3M | ||
| Q1 24 | $208.2M | — |
自由现金流AFRMRAMP
| Q4 25 | $118.0M | — | ||
| Q3 25 | $320.2M | $56.8M | ||
| Q2 25 | $23.5M | $-16.2M | ||
| Q1 25 | $157.4M | — | ||
| Q4 24 | $268.1M | $44.8M | ||
| Q3 24 | $152.7M | $55.4M | ||
| Q2 24 | $30.5M | $-9.6M | ||
| Q1 24 | $161.7M | — |
自由现金流率AFRMRAMP
| Q4 25 | 29.4% | — | ||
| Q3 25 | 99.9% | 28.4% | ||
| Q2 25 | 7.7% | -8.3% | ||
| Q1 25 | 57.7% | — | ||
| Q4 24 | 88.5% | 22.9% | ||
| Q3 24 | 65.9% | 29.8% | ||
| Q2 24 | 13.6% | -5.4% | ||
| Q1 24 | 82.9% | — |
资本支出强度AFRMRAMP
| Q4 25 | 13.9% | 0.1% | ||
| Q3 25 | 17.0% | 0.3% | ||
| Q2 25 | 16.7% | 0.2% | ||
| Q1 25 | 19.5% | 0.2% | ||
| Q4 24 | 14.5% | 0.1% | ||
| Q3 24 | 19.0% | 0.1% | ||
| Q2 24 | 17.1% | 0.1% | ||
| Q1 24 | 23.8% | 1.0% |
现金转化率AFRMRAMP
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | 2.09× | ||
| Q2 25 | 1.08× | -2.04× | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | 4.02× | ||
| Q3 24 | — | 32.10× | ||
| 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% |
RAMP
暂无分部数据
