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Affirm Holdings, Inc.（AFRM）与Reddit, Inc.（RDDT）财务数据对比。点击上方公司名可切换其他公司
Reddit, Inc.的季度营收约是Affirm Holdings, Inc.的1.7倍（$663.0M vs $401.4M），Affirm Holdings, Inc.净利率更高（32.3% vs 30.8%，领先1.5%），Reddit, Inc.同比增速更快（69.0% vs 32.5%），Reddit, Inc.自由现金流更多（$311.0M vs $118.0M），过去两年Reddit, Inc.的营收复合增速更高（53.6% vs 43.5%）
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。
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
AFRM vs RDDT — 直观对比
营收规模更大
RDDT
是对方的1.7倍
$401.4M
营收增速更快
RDDT
高出36.5%
32.5%
净利率更高
AFRM
高出1.5%
30.8%
自由现金流更多
RDDT
多$193.0M
$118.0M
两年增速更快
RDDT
近两年复合增速
43.5%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $663.0M |
| 净利润 | $129.6M | $204.0M |
| 毛利率 | — | 100.0% |
| 营业利润率 | 29.3% | 0.0% |
| 净利率 | 32.3% | 30.8% |
| 营收同比 | 32.5% | 69.0% |
| 净利润同比 | 61.3% | 680.0% |
| 每股收益（稀释后） | $0.37 | $1.01 |
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AFRMRDDT
| Q1 26 | — | $663.0M | ||
| Q4 25 | $401.4M | $725.6M | ||
| Q3 25 | $320.5M | $584.9M | ||
| Q2 25 | $306.6M | $499.6M | ||
| Q1 25 | $272.5M | $392.4M | ||
| Q4 24 | $303.0M | $427.7M | ||
| Q3 24 | $231.8M | $348.4M | ||
| Q2 24 | $224.0M | $281.2M |
净利润AFRMRDDT
| Q1 26 | — | $204.0M | ||
| Q4 25 | $129.6M | $251.6M | ||
| Q3 25 | $80.7M | $162.7M | ||
| Q2 25 | $69.2M | $89.3M | ||
| Q1 25 | $2.8M | $26.2M | ||
| Q4 24 | $80.4M | $71.0M | ||
| Q3 24 | $-100.2M | $29.9M | ||
| Q2 24 | $-45.1M | $-10.1M |
毛利率AFRMRDDT
| Q1 26 | — | 100.0% | ||
| Q4 25 | — | 91.9% | ||
| Q3 25 | — | 91.0% | ||
| Q2 25 | — | 90.8% | ||
| Q1 25 | — | 90.5% | ||
| Q4 24 | — | 92.6% | ||
| Q3 24 | — | 90.1% | ||
| Q2 24 | — | 89.5% |
营业利润率AFRMRDDT
| Q1 26 | — | 0.0% | ||
| Q4 25 | 29.3% | 31.9% | ||
| Q3 25 | 19.9% | 23.7% | ||
| Q2 25 | 18.9% | 13.6% | ||
| Q1 25 | -3.1% | 1.0% | ||
| Q4 24 | -1.4% | 12.4% | ||
| Q3 24 | -57.2% | 2.0% | ||
| Q2 24 | -32.8% | -11.0% |
净利率AFRMRDDT
| Q1 26 | — | 30.8% | ||
| Q4 25 | 32.3% | 34.7% | ||
| Q3 25 | 25.2% | 27.8% | ||
| Q2 25 | 22.6% | 17.9% | ||
| Q1 25 | 1.0% | 6.7% | ||
| Q4 24 | 26.5% | 16.6% | ||
| Q3 24 | -43.2% | 8.6% | ||
| Q2 24 | -20.2% | -3.6% |
每股收益（稀释后）AFRMRDDT
| Q1 26 | — | $1.01 | ||
| Q4 25 | $0.37 | $1.24 | ||
| Q3 25 | $0.23 | $0.80 | ||
| Q2 25 | $0.22 | $0.45 | ||
| Q1 25 | $0.01 | $0.13 | ||
| Q4 24 | $0.23 | $4.76 | ||
| Q3 24 | $-0.31 | $0.16 | ||
| Q2 24 | $-0.13 | $-0.06 |
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 | $1.4B |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $3.2B |
| 总资产 | $13.0B | $3.5B |
| 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AFRMRDDT
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.5B | $953.6M | ||
| Q3 25 | $1.4B | $911.7M | ||
| Q2 25 | $1.4B | $734.1M | ||
| Q1 25 | $1.4B | $635.7M | ||
| Q4 24 | $1.2B | $562.1M | ||
| Q3 24 | $1.0B | $515.9M | ||
| Q2 24 | $1.0B | $468.0M |
总债务AFRMRDDT
| Q1 26 | — | — | ||
| 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 | — |
股东权益AFRMRDDT
| Q1 26 | — | $3.2B | ||
| Q4 25 | $3.5B | $2.9B | ||
| Q3 25 | $3.3B | $2.6B | ||
| Q2 25 | $3.1B | $2.4B | ||
| Q1 25 | $2.9B | $2.2B | ||
| Q4 24 | $2.8B | $2.1B | ||
| Q3 24 | $2.8B | $2.0B | ||
| Q2 24 | $2.7B | $1.9B |
总资产AFRMRDDT
| Q1 26 | — | $3.5B | ||
| Q4 25 | $13.0B | $3.2B | ||
| Q3 25 | $11.5B | $2.9B | ||
| Q2 25 | $11.2B | $2.6B | ||
| Q1 25 | $10.4B | $2.4B | ||
| Q4 24 | $10.5B | $2.3B | ||
| Q3 24 | $10.1B | $2.2B | ||
| Q2 24 | $9.5B | $2.1B |
负债/权益比AFRMRDDT
| Q1 26 | — | — | ||
| 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× | — |
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 | $311.0M |
| 自由现金流率自由现金流/营收 | 29.4% | 46.9% |
| 资本支出强度资本支出/营收 | 13.9% | — |
| 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 | $868.6M |
8季度趋势，按日历期对齐
经营现金流AFRMRDDT
| Q1 26 | — | — | ||
| Q4 25 | $173.7M | $266.8M | ||
| Q3 25 | $374.6M | $185.2M | ||
| Q2 25 | $74.6M | $111.3M | ||
| Q1 25 | $210.4M | $127.6M | ||
| Q4 24 | $312.0M | $90.0M | ||
| Q3 24 | $196.9M | $71.6M | ||
| Q2 24 | $68.8M | $28.4M |
自由现金流AFRMRDDT
| Q1 26 | — | $311.0M | ||
| Q4 25 | $118.0M | $263.6M | ||
| Q3 25 | $320.2M | $183.1M | ||
| Q2 25 | $23.5M | $110.8M | ||
| Q1 25 | $157.4M | $126.6M | ||
| Q4 24 | $268.1M | $89.2M | ||
| Q3 24 | $152.7M | $70.3M | ||
| Q2 24 | $30.5M | $27.2M |
自由现金流率AFRMRDDT
| Q1 26 | — | 46.9% | ||
| Q4 25 | 29.4% | 36.3% | ||
| Q3 25 | 99.9% | 31.3% | ||
| Q2 25 | 7.7% | 22.2% | ||
| Q1 25 | 57.7% | 32.3% | ||
| Q4 24 | 88.5% | 20.8% | ||
| Q3 24 | 65.9% | 20.2% | ||
| Q2 24 | 13.6% | 9.7% |
资本支出强度AFRMRDDT
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 0.4% | ||
| Q3 25 | 17.0% | 0.4% | ||
| Q2 25 | 16.7% | 0.1% | ||
| Q1 25 | 19.5% | 0.2% | ||
| Q4 24 | 14.5% | 0.2% | ||
| Q3 24 | 19.0% | 0.4% | ||
| Q2 24 | 17.1% | 0.4% |
现金转化率AFRMRDDT
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 1.06× | ||
| Q3 25 | 4.64× | 1.14× | ||
| Q2 25 | 1.08× | 1.25× | ||
| Q1 25 | 75.03× | 4.88× | ||
| Q4 24 | 3.88× | 1.27× | ||
| Q3 24 | — | 2.40× | ||
| Q2 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% |
RDDT
暂无分部数据
