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Affirm Holdings, Inc.（AFRM）与GIBRALTAR INDUSTRIES, INC.（ROCK）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GIBRALTAR INDUSTRIES, INC.的1.8倍（$401.4M vs $225.0M），Affirm Holdings, Inc.同比增速更快（32.5% vs 24.9%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $26.2M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
AFRM vs ROCK — 直观对比
营收规模更大
AFRM
是对方的1.8倍
$225.0M
营收增速更快
AFRM
高出7.5%
24.9%
自由现金流更多
AFRM
多$91.8M
$26.2M
两年增速更快
AFRM
近两年复合增速
-12.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $225.0M |
| 净利润 | $129.6M | — |
| 毛利率 | — | 25.3% |
| 营业利润率 | 29.3% | 7.9% |
| 净利率 | 32.3% | — |
| 营收同比 | 32.5% | 24.9% |
| 净利润同比 | 61.3% | — |
| 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
营收AFRMROCK
| Q4 25 | $401.4M | $225.0M | ||
| Q3 25 | $320.5M | $310.9M | ||
| Q2 25 | $306.6M | $309.5M | ||
| Q1 25 | $272.5M | $290.0M | ||
| Q4 24 | $303.0M | $180.1M | ||
| Q3 24 | $231.8M | $277.1M | ||
| Q2 24 | $224.0M | $273.6M | ||
| Q1 24 | $195.0M | $292.5M |
净利润AFRMROCK
| Q4 25 | $129.6M | — | ||
| Q3 25 | $80.7M | $-89.1M | ||
| Q2 25 | $69.2M | $26.0M | ||
| Q1 25 | $2.8M | $21.1M | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $-100.2M | $34.0M | ||
| Q2 24 | $-45.1M | $32.2M | ||
| Q1 24 | $-133.9M | $24.9M |
毛利率AFRMROCK
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | — | 28.9% |
营业利润率AFRMROCK
| Q4 25 | 29.3% | 7.9% | ||
| Q3 25 | 19.9% | 12.8% | ||
| Q2 25 | 18.9% | 12.8% | ||
| Q1 25 | -3.1% | 8.8% | ||
| Q4 24 | -1.4% | 13.3% | ||
| Q3 24 | -57.2% | 15.6% | ||
| Q2 24 | -32.8% | 14.9% | ||
| Q1 24 | -82.5% | 10.8% |
净利率AFRMROCK
| Q4 25 | 32.3% | — | ||
| Q3 25 | 25.2% | -28.6% | ||
| Q2 25 | 22.6% | 8.4% | ||
| Q1 25 | 1.0% | 7.3% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | -43.2% | 12.3% | ||
| Q2 24 | -20.2% | 11.8% | ||
| Q1 24 | -68.7% | 8.5% |
每股收益（稀释后）AFRMROCK
| Q4 25 | $0.37 | — | ||
| Q3 25 | $0.23 | $-2.98 | ||
| Q2 25 | $0.22 | $0.87 | ||
| Q1 25 | $0.01 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $-0.31 | $1.11 | ||
| Q2 24 | $-0.13 | $1.05 | ||
| 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 | $115.7M |
| 总债务越低越好 | $9.0B | $0 |
| 股东权益账面价值 | $3.5B | $950.4M |
| 总资产 | $13.0B | $1.4B |
| 负债/权益比越低杠杆越低 | 2.54× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资AFRMROCK
| Q4 25 | $1.5B | $115.7M | ||
| Q3 25 | $1.4B | $89.4M | ||
| Q2 25 | $1.4B | $43.3M | ||
| Q1 25 | $1.4B | $25.1M | ||
| Q4 24 | $1.2B | $269.5M | ||
| Q3 24 | $1.0B | $228.9M | ||
| Q2 24 | $1.0B | $179.1M | ||
| Q1 24 | $1.3B | $146.7M |
总债务AFRMROCK
| Q4 25 | $9.0B | $0 | ||
| Q3 25 | $7.7B | $0 | ||
| Q2 25 | $7.6B | $0 | ||
| Q1 25 | $7.1B | $0 | ||
| Q4 24 | $7.3B | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | $1.8B | $0 | ||
| Q1 24 | — | $0 |
股东权益AFRMROCK
| Q4 25 | $3.5B | $950.4M | ||
| Q3 25 | $3.3B | $951.8M | ||
| Q2 25 | $3.1B | $1.0B | ||
| Q1 25 | $2.9B | $1.0B | ||
| Q4 24 | $2.8B | $1.0B | ||
| Q3 24 | $2.8B | $1.0B | ||
| Q2 24 | $2.7B | $975.7M | ||
| Q1 24 | $2.6B | $940.2M |
总资产AFRMROCK
| Q4 25 | $13.0B | $1.4B | ||
| Q3 25 | $11.5B | $1.4B | ||
| Q2 25 | $11.2B | $1.5B | ||
| Q1 25 | $10.4B | $1.4B | ||
| Q4 24 | $10.5B | $1.4B | ||
| Q3 24 | $10.1B | $1.4B | ||
| Q2 24 | $9.5B | $1.4B | ||
| Q1 24 | $9.2B | $1.3B |
负债/权益比AFRMROCK
| Q4 25 | 2.54× | 0.00× | ||
| Q3 25 | 2.35× | 0.00× | ||
| Q2 25 | 2.48× | 0.00× | ||
| Q1 25 | 2.49× | 0.00× | ||
| Q4 24 | 2.62× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | 0.67× | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $26.2M |
| 自由现金流率自由现金流/营收 | 29.4% | 11.7% |
| 资本支出强度资本支出/营收 | 13.9% | 4.1% |
| 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 | $120.6M |
8季度趋势，按日历期对齐
经营现金流AFRMROCK
| Q4 25 | $173.7M | $35.5M | ||
| Q3 25 | $374.6M | $73.0M | ||
| Q2 25 | $74.6M | $44.9M | ||
| Q1 25 | $210.4M | $13.7M | ||
| Q4 24 | $312.0M | $19.9M | ||
| Q3 24 | $196.9M | $64.7M | ||
| Q2 24 | $68.8M | $36.5M | ||
| Q1 24 | $208.2M | $53.2M |
自由现金流AFRMROCK
| Q4 25 | $118.0M | $26.2M | ||
| Q3 25 | $320.2M | $64.8M | ||
| Q2 25 | $23.5M | $27.3M | ||
| Q1 25 | $157.4M | $2.3M | ||
| Q4 24 | $268.1M | $14.1M | ||
| Q3 24 | $152.7M | $60.5M | ||
| Q2 24 | $30.5M | $33.5M | ||
| Q1 24 | $161.7M | $48.8M |
自由现金流率AFRMROCK
| Q4 25 | 29.4% | 11.7% | ||
| Q3 25 | 99.9% | 20.8% | ||
| Q2 25 | 7.7% | 8.8% | ||
| Q1 25 | 57.7% | 0.8% | ||
| Q4 24 | 88.5% | 7.8% | ||
| Q3 24 | 65.9% | 21.8% | ||
| Q2 24 | 13.6% | 12.2% | ||
| Q1 24 | 82.9% | 16.7% |
资本支出强度AFRMROCK
| Q4 25 | 13.9% | 4.1% | ||
| Q3 25 | 17.0% | 2.6% | ||
| Q2 25 | 16.7% | 5.7% | ||
| Q1 25 | 19.5% | 3.9% | ||
| Q4 24 | 14.5% | 3.3% | ||
| Q3 24 | 19.0% | 1.5% | ||
| Q2 24 | 17.1% | 1.1% | ||
| Q1 24 | 23.8% | 1.5% |
现金转化率AFRMROCK
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | 1.73× | ||
| Q1 25 | 75.03× | 0.65× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
