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Affirm Holdings, Inc.（AFRM）与Rapid7, Inc.（RPD）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Rapid7, Inc.的1.8倍（$401.4M vs $217.4M），Affirm Holdings, Inc.净利率更高（32.3% vs 1.4%，领先30.8%），Affirm Holdings, Inc.同比增速更快（32.5% vs 0.5%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $36.4M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 3.0%）
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。
Rapid7是全球领先的网络安全企业，提供漏洞管理、威胁检测与响应、云安全、安全分析等全系列安全解决方案，服务全球科技、医疗、金融、制造等行业的各类规模企业及公共部门客户，助力客户高效识别、应对和缓解网络安全风险。
AFRM vs RPD — 直观对比
营收规模更大
AFRM
是对方的1.8倍
$217.4M
营收增速更快
AFRM
高出31.9%
0.5%
净利率更高
AFRM
高出30.8%
1.4%
自由现金流更多
AFRM
多$81.6M
$36.4M
两年增速更快
AFRM
近两年复合增速
3.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $217.4M |
| 净利润 | $129.6M | $3.1M |
| 毛利率 | — | 68.9% |
| 营业利润率 | 29.3% | 1.0% |
| 净利率 | 32.3% | 1.4% |
| 营收同比 | 32.5% | 0.5% |
| 净利润同比 | 61.3% | 44.1% |
| 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AFRMRPD
| Q4 25 | $401.4M | $217.4M | ||
| Q3 25 | $320.5M | $218.0M | ||
| Q2 25 | $306.6M | $214.2M | ||
| Q1 25 | $272.5M | $210.3M | ||
| Q4 24 | $303.0M | $216.3M | ||
| Q3 24 | $231.8M | $214.7M | ||
| Q2 24 | $224.0M | $208.0M | ||
| Q1 24 | $195.0M | $205.1M |
净利润AFRMRPD
| Q4 25 | $129.6M | $3.1M | ||
| Q3 25 | $80.7M | $9.8M | ||
| Q2 25 | $69.2M | $8.3M | ||
| Q1 25 | $2.8M | $2.1M | ||
| Q4 24 | $80.4M | $2.2M | ||
| Q3 24 | $-100.2M | $15.4M | ||
| Q2 24 | $-45.1M | $6.5M | ||
| Q1 24 | $-133.9M | $1.4M |
毛利率AFRMRPD
| Q4 25 | — | 68.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.6% | ||
| Q1 25 | — | 71.7% | ||
| Q4 24 | — | 69.5% | ||
| Q3 24 | — | 70.6% | ||
| Q2 24 | — | 70.7% | ||
| Q1 24 | — | 70.3% |
营业利润率AFRMRPD
| Q4 25 | 29.3% | 1.0% | ||
| Q3 25 | 19.9% | 2.7% | ||
| Q2 25 | 18.9% | 1.6% | ||
| Q1 25 | -3.1% | -0.0% | ||
| Q4 24 | -1.4% | 3.4% | ||
| Q3 24 | -57.2% | 6.0% | ||
| Q2 24 | -32.8% | 2.5% | ||
| Q1 24 | -82.5% | 4.7% |
净利率AFRMRPD
| Q4 25 | 32.3% | 1.4% | ||
| Q3 25 | 25.2% | 4.5% | ||
| Q2 25 | 22.6% | 3.9% | ||
| Q1 25 | 1.0% | 1.0% | ||
| Q4 24 | 26.5% | 1.0% | ||
| Q3 24 | -43.2% | 7.2% | ||
| Q2 24 | -20.2% | 3.1% | ||
| Q1 24 | -68.7% | 0.7% |
每股收益（稀释后）AFRMRPD
| Q4 25 | $0.37 | $0.05 | ||
| Q3 25 | $0.23 | $0.15 | ||
| Q2 25 | $0.22 | $0.13 | ||
| Q1 25 | $0.01 | $0.03 | ||
| Q4 24 | $0.23 | $0.08 | ||
| Q3 24 | $-0.31 | $0.21 | ||
| Q2 24 | $-0.13 | $0.09 | ||
| Q1 24 | $-0.43 | $0.02 |
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 | $474.7M |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $154.7M |
| 总资产 | $13.0B | $1.7B |
| 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AFRMRPD
| Q4 25 | $1.5B | $474.7M | ||
| Q3 25 | $1.4B | $407.1M | ||
| Q2 25 | $1.4B | $511.7M | ||
| Q1 25 | $1.4B | $493.5M | ||
| Q4 24 | $1.2B | $521.7M | ||
| Q3 24 | $1.0B | $443.7M | ||
| Q2 24 | $1.0B | $442.6M | ||
| Q1 24 | $1.3B | $411.7M |
总债务AFRMRPD
| 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AFRMRPD
| Q4 25 | $3.5B | $154.7M | ||
| Q3 25 | $3.3B | $127.2M | ||
| Q2 25 | $3.1B | $90.4M | ||
| Q1 25 | $2.9B | $52.7M | ||
| Q4 24 | $2.8B | $17.7M | ||
| Q3 24 | $2.8B | $-5.1M | ||
| Q2 24 | $2.7B | $-52.6M | ||
| Q1 24 | $2.6B | $-86.4M |
总资产AFRMRPD
| Q4 25 | $13.0B | $1.7B | ||
| Q3 25 | $11.5B | $1.7B | ||
| Q2 25 | $11.2B | $1.6B | ||
| Q1 25 | $10.4B | $1.6B | ||
| Q4 24 | $10.5B | $1.7B | ||
| Q3 24 | $10.1B | $1.6B | ||
| Q2 24 | $9.5B | $1.5B | ||
| Q1 24 | $9.2B | $1.5B |
负债/权益比AFRMRPD
| 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 | $37.6M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $36.4M |
| 自由现金流率自由现金流/营收 | 29.4% | 16.8% |
| 资本支出强度资本支出/营收 | 13.9% | 0.5% |
| 现金转化率经营现金流/净利润 | 1.34× | 12.01× |
| 过去12个月自由现金流最近4个季度 | $619.1M | $146.2M |
8季度趋势，按日历期对齐
经营现金流AFRMRPD
| Q4 25 | $173.7M | $37.6M | ||
| Q3 25 | $374.6M | $39.0M | ||
| Q2 25 | $74.6M | $47.5M | ||
| Q1 25 | $210.4M | $29.8M | ||
| Q4 24 | $312.0M | $63.8M | ||
| Q3 24 | $196.9M | $44.0M | ||
| Q2 24 | $68.8M | $32.9M | ||
| Q1 24 | $208.2M | $31.1M |
自由现金流AFRMRPD
| Q4 25 | $118.0M | $36.4M | ||
| Q3 25 | $320.2M | $34.8M | ||
| Q2 25 | $23.5M | $46.6M | ||
| Q1 25 | $157.4M | $28.4M | ||
| Q4 24 | $268.1M | $62.6M | ||
| Q3 24 | $152.7M | $42.6M | ||
| Q2 24 | $30.5M | $32.6M | ||
| Q1 24 | $161.7M | $30.4M |
自由现金流率AFRMRPD
| Q4 25 | 29.4% | 16.8% | ||
| Q3 25 | 99.9% | 16.0% | ||
| Q2 25 | 7.7% | 21.8% | ||
| Q1 25 | 57.7% | 13.5% | ||
| Q4 24 | 88.5% | 28.9% | ||
| Q3 24 | 65.9% | 19.9% | ||
| Q2 24 | 13.6% | 15.7% | ||
| Q1 24 | 82.9% | 14.8% |
资本支出强度AFRMRPD
| Q4 25 | 13.9% | 0.5% | ||
| Q3 25 | 17.0% | 1.9% | ||
| Q2 25 | 16.7% | 0.4% | ||
| Q1 25 | 19.5% | 0.6% | ||
| Q4 24 | 14.5% | 0.5% | ||
| Q3 24 | 19.0% | 0.6% | ||
| Q2 24 | 17.1% | 0.1% | ||
| Q1 24 | 23.8% | 0.3% |
现金转化率AFRMRPD
| Q4 25 | 1.34× | 12.01× | ||
| Q3 25 | 4.64× | 3.97× | ||
| Q2 25 | 1.08× | 5.70× | ||
| Q1 25 | 75.03× | 14.14× | ||
| Q4 24 | 3.88× | 29.36× | ||
| Q3 24 | — | 2.85× | ||
| Q2 24 | — | 5.03× | ||
| Q1 24 | — | 22.10× |
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% |
RPD
| Products | $209.1M | 96% |
| Services | $8.2M | 4% |
