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Affirm Holdings, Inc.（AFRM）与Stitch Fix, Inc.（SFIX）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Stitch Fix, Inc.的1.2倍（$401.4M vs $342.1M），Affirm Holdings, Inc.净利率更高（32.3% vs -1.9%，领先34.1%），Affirm Holdings, Inc.同比增速更快（32.5% vs 7.3%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $5.6M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 1.8%）
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。
Stitch Fix是美国的在线个人造型服务平台，依托推荐算法与数据科学技术，根据顾客的身形尺寸、预算和风格偏好推送个性化服饰单品。该公司创立于2011年，2017年完成首次公开募股，目前总部位于旧金山。
AFRM vs SFIX — 直观对比
营收规模更大
AFRM
是对方的1.2倍
$342.1M
营收增速更快
AFRM
高出25.2%
7.3%
净利率更高
AFRM
高出34.1%
-1.9%
自由现金流更多
AFRM
多$112.5M
$5.6M
两年增速更快
AFRM
近两年复合增速
1.8%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $342.1M |
| 净利润 | $129.6M | $-6.4M |
| 毛利率 | — | 43.6% |
| 营业利润率 | 29.3% | -2.5% |
| 净利率 | 32.3% | -1.9% |
| 营收同比 | 32.5% | 7.3% |
| 净利润同比 | 61.3% | -1.7% |
| 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AFRMSFIX
| Q4 25 | $401.4M | $342.1M | ||
| Q3 25 | $320.5M | $311.2M | ||
| Q2 25 | $306.6M | $325.0M | ||
| Q1 25 | $272.5M | $312.1M | ||
| Q4 24 | $303.0M | $318.8M | ||
| Q3 24 | $231.8M | $319.6M | ||
| Q2 24 | $224.0M | $322.7M | ||
| Q1 24 | $195.0M | $330.4M |
净利润AFRMSFIX
| Q4 25 | $129.6M | $-6.4M | ||
| Q3 25 | $80.7M | $-8.6M | ||
| Q2 25 | $69.2M | $-7.4M | ||
| Q1 25 | $2.8M | $-6.5M | ||
| Q4 24 | $80.4M | $-6.3M | ||
| Q3 24 | $-100.2M | $-36.5M | ||
| Q2 24 | $-45.1M | $-21.3M | ||
| Q1 24 | $-133.9M | $-35.5M |
毛利率AFRMSFIX
| Q4 25 | — | 43.6% | ||
| Q3 25 | — | 43.6% | ||
| Q2 25 | — | 44.2% | ||
| Q1 25 | — | 44.5% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | — | 44.6% | ||
| Q2 24 | — | 45.5% | ||
| Q1 24 | — | 43.4% |
营业利润率AFRMSFIX
| Q4 25 | 29.3% | -2.5% | ||
| Q3 25 | 19.9% | -3.6% | ||
| Q2 25 | 18.9% | -3.0% | ||
| Q1 25 | -3.1% | -2.9% | ||
| Q4 24 | -1.4% | -2.8% | ||
| Q3 24 | -57.2% | -13.1% | ||
| Q2 24 | -32.8% | -7.7% | ||
| Q1 24 | -82.5% | -11.5% |
净利率AFRMSFIX
| Q4 25 | 32.3% | -1.9% | ||
| Q3 25 | 25.2% | -2.8% | ||
| Q2 25 | 22.6% | -2.3% | ||
| Q1 25 | 1.0% | -2.1% | ||
| Q4 24 | 26.5% | -2.0% | ||
| Q3 24 | -43.2% | -11.4% | ||
| Q2 24 | -20.2% | -6.6% | ||
| Q1 24 | -68.7% | -10.8% |
每股收益（稀释后）AFRMSFIX
| Q4 25 | $0.37 | $-0.05 | ||
| Q3 25 | $0.23 | $-0.06 | ||
| Q2 25 | $0.22 | $-0.06 | ||
| Q1 25 | $0.01 | $-0.05 | ||
| Q4 24 | $0.23 | $-0.05 | ||
| Q3 24 | $-0.31 | $-0.29 | ||
| Q2 24 | $-0.13 | $-0.18 | ||
| Q1 24 | $-0.43 | $-0.30 |
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 | $244.2M |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $204.1M |
| 总资产 | $13.0B | $530.7M |
| 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AFRMSFIX
| Q4 25 | $1.5B | $244.2M | ||
| Q3 25 | $1.4B | $234.9M | ||
| Q2 25 | $1.4B | $234.2M | ||
| Q1 25 | $1.4B | $219.1M | ||
| Q4 24 | $1.2B | $253.3M | ||
| Q3 24 | $1.0B | $247.0M | ||
| Q2 24 | $1.0B | $244.5M | ||
| Q1 24 | $1.3B | $229.8M |
总债务AFRMSFIX
| 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AFRMSFIX
| Q4 25 | $3.5B | $204.1M | ||
| Q3 25 | $3.3B | $203.0M | ||
| Q2 25 | $3.1B | $200.4M | ||
| Q1 25 | $2.9B | $197.8M | ||
| Q4 24 | $2.8B | $190.5M | ||
| Q3 24 | $2.8B | $187.0M | ||
| Q2 24 | $2.7B | $208.9M | ||
| Q1 24 | $2.6B | $213.3M |
总资产AFRMSFIX
| Q4 25 | $13.0B | $530.7M | ||
| Q3 25 | $11.5B | $480.6M | ||
| Q2 25 | $11.2B | $484.7M | ||
| Q1 25 | $10.4B | $472.6M | ||
| Q4 24 | $10.5B | $507.1M | ||
| Q3 24 | $10.1B | $486.9M | ||
| Q2 24 | $9.5B | $537.0M | ||
| Q1 24 | $9.2B | $538.3M |
负债/权益比AFRMSFIX
| 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 | $10.9M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $5.6M |
| 自由现金流率自由现金流/营收 | 29.4% | 1.6% |
| 资本支出强度资本支出/营收 | 13.9% | 1.6% |
| 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 | $4.9M |
8季度趋势，按日历期对齐
经营现金流AFRMSFIX
| Q4 25 | $173.7M | $10.9M | ||
| Q3 25 | $374.6M | $7.0M | ||
| Q2 25 | $74.6M | $20.5M | ||
| Q1 25 | $210.4M | $-16.2M | ||
| Q4 24 | $312.0M | $14.3M | ||
| Q3 24 | $196.9M | $8.2M | ||
| Q2 24 | $68.8M | $21.7M | ||
| Q1 24 | $208.2M | $-22.3M |
自由现金流AFRMSFIX
| Q4 25 | $118.0M | $5.6M | ||
| Q3 25 | $320.2M | $2.8M | ||
| Q2 25 | $23.5M | $16.0M | ||
| Q1 25 | $157.4M | $-19.4M | ||
| Q4 24 | $268.1M | $9.9M | ||
| Q3 24 | $152.7M | $4.5M | ||
| Q2 24 | $30.5M | $18.9M | ||
| Q1 24 | $161.7M | $-26.1M |
自由现金流率AFRMSFIX
| Q4 25 | 29.4% | 1.6% | ||
| Q3 25 | 99.9% | 0.9% | ||
| Q2 25 | 7.7% | 4.9% | ||
| Q1 25 | 57.7% | -6.2% | ||
| Q4 24 | 88.5% | 3.1% | ||
| Q3 24 | 65.9% | 1.4% | ||
| Q2 24 | 13.6% | 5.9% | ||
| Q1 24 | 82.9% | -7.9% |
资本支出强度AFRMSFIX
| Q4 25 | 13.9% | 1.6% | ||
| Q3 25 | 17.0% | 1.4% | ||
| Q2 25 | 16.7% | 1.4% | ||
| Q1 25 | 19.5% | 1.0% | ||
| Q4 24 | 14.5% | 1.4% | ||
| Q3 24 | 19.0% | 1.2% | ||
| Q2 24 | 17.1% | 0.9% | ||
| Q1 24 | 23.8% | 1.1% |
现金转化率AFRMSFIX
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 75.03× | — | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | — | ||
| 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% |
SFIX
暂无分部数据
