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Affirm Holdings, Inc.（AFRM）与SM Energy Co（SM）财务数据对比。点击上方公司名可切换其他公司
SM Energy Co的季度营收约是Affirm Holdings, Inc.的1.8倍（$704.9M vs $401.4M），Affirm Holdings, Inc.同比增速更快（32.5% vs -17.3%），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 12.2%）
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。
SM能源公司是一家专注于油气勘探开发的能源企业，注册地位于美国特拉华州，总部设立在科罗拉多州丹佛市，业务围绕 hydrocarbon 资源的勘探布局，在能源勘探领域拥有成熟的运营经验。
AFRM vs SM — 直观对比
营收规模更大
SM
是对方的1.8倍
$401.4M
营收增速更快
AFRM
高出49.7%
-17.3%
两年增速更快
AFRM
近两年复合增速
12.2%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $704.9M |
| 净利润 | $129.6M | — |
| 毛利率 | — | — |
| 营业利润率 | 29.3% | 25.9% |
| 净利率 | 32.3% | — |
| 营收同比 | 32.5% | -17.3% |
| 净利润同比 | 61.3% | — |
| 每股收益（稀释后） | $0.37 | $0.94 |
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AFRMSM
| Q4 25 | $401.4M | $704.9M | ||
| Q3 25 | $320.5M | $811.6M | ||
| Q2 25 | $306.6M | $792.9M | ||
| Q1 25 | $272.5M | $844.5M | ||
| Q4 24 | $303.0M | $852.0M | ||
| Q3 24 | $231.8M | $643.6M | ||
| Q2 24 | $224.0M | $634.6M | ||
| Q1 24 | $195.0M | $559.9M |
净利润AFRMSM
| Q4 25 | $129.6M | — | ||
| Q3 25 | $80.7M | $155.1M | ||
| Q2 25 | $69.2M | $201.7M | ||
| Q1 25 | $2.8M | $182.3M | ||
| Q4 24 | $80.4M | — | ||
| Q3 24 | $-100.2M | $240.5M | ||
| Q2 24 | $-45.1M | $210.3M | ||
| Q1 24 | $-133.9M | $131.2M |
营业利润率AFRMSM
| Q4 25 | 29.3% | 25.9% | ||
| Q3 25 | 19.9% | 30.4% | ||
| Q2 25 | 18.9% | 37.2% | ||
| Q1 25 | -3.1% | 32.7% | ||
| Q4 24 | -1.4% | 33.7% | ||
| Q3 24 | -57.2% | 51.4% | ||
| Q2 24 | -32.8% | 44.0% | ||
| Q1 24 | -82.5% | 31.9% |
净利率AFRMSM
| Q4 25 | 32.3% | — | ||
| Q3 25 | 25.2% | 19.1% | ||
| Q2 25 | 22.6% | 25.4% | ||
| Q1 25 | 1.0% | 21.6% | ||
| Q4 24 | 26.5% | — | ||
| Q3 24 | -43.2% | 37.4% | ||
| Q2 24 | -20.2% | 33.1% | ||
| Q1 24 | -68.7% | 23.4% |
每股收益（稀释后）AFRMSM
| Q4 25 | $0.37 | $0.94 | ||
| Q3 25 | $0.23 | $1.35 | ||
| Q2 25 | $0.22 | $1.76 | ||
| Q1 25 | $0.01 | $1.59 | ||
| Q4 24 | $0.23 | $1.63 | ||
| Q3 24 | $-0.31 | $2.09 | ||
| Q2 24 | $-0.13 | $1.82 | ||
| Q1 24 | $-0.43 | $1.13 |
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 | $368.0M |
| 总债务越低越好 | $9.0B | — |
| 股东权益账面价值 | $3.5B | $4.8B |
| 总资产 | $13.0B | $9.3B |
| 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AFRMSM
| Q4 25 | $1.5B | $368.0M | ||
| Q3 25 | $1.4B | $162.3M | ||
| Q2 25 | $1.4B | $101.9M | ||
| Q1 25 | $1.4B | $54.0K | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $1.0B | $487.9M | ||
| Q1 24 | $1.3B | $506.3M |
总债务AFRMSM
| 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AFRMSM
| Q4 25 | $3.5B | $4.8B | ||
| Q3 25 | $3.3B | $4.7B | ||
| Q2 25 | $3.1B | $4.6B | ||
| Q1 25 | $2.9B | $4.4B | ||
| Q4 24 | $2.8B | $4.2B | ||
| Q3 24 | $2.8B | $4.1B | ||
| Q2 24 | $2.7B | $3.8B | ||
| Q1 24 | $2.6B | $3.7B |
总资产AFRMSM
| Q4 25 | $13.0B | $9.3B | ||
| Q3 25 | $11.5B | $9.1B | ||
| Q2 25 | $11.2B | $9.0B | ||
| Q1 25 | $10.4B | $8.8B | ||
| Q4 24 | $10.5B | $8.6B | ||
| Q3 24 | $10.1B | $8.0B | ||
| Q2 24 | $9.5B | $6.7B | ||
| Q1 24 | $9.2B | $6.4B |
负债/权益比AFRMSM
| 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 | $451.9M |
| 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% | — |
| 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AFRMSM
| Q4 25 | $173.7M | $451.9M | ||
| Q3 25 | $374.6M | $505.0M | ||
| Q2 25 | $74.6M | $571.1M | ||
| Q1 25 | $210.4M | $483.0M | ||
| Q4 24 | $312.0M | $578.4M | ||
| Q3 24 | $196.9M | $452.3M | ||
| Q2 24 | $68.8M | $476.4M | ||
| Q1 24 | $208.2M | $276.0M |
自由现金流AFRMSM
| Q4 25 | $118.0M | — | ||
| Q3 25 | $320.2M | — | ||
| Q2 25 | $23.5M | — | ||
| Q1 25 | $157.4M | — | ||
| Q4 24 | $268.1M | — | ||
| Q3 24 | $152.7M | — | ||
| Q2 24 | $30.5M | — | ||
| Q1 24 | $161.7M | — |
自由现金流率AFRMSM
| Q4 25 | 29.4% | — | ||
| Q3 25 | 99.9% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 57.7% | — | ||
| Q4 24 | 88.5% | — | ||
| Q3 24 | 65.9% | — | ||
| Q2 24 | 13.6% | — | ||
| Q1 24 | 82.9% | — |
资本支出强度AFRMSM
| Q4 25 | 13.9% | — | ||
| Q3 25 | 17.0% | — | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 17.1% | — | ||
| Q1 24 | 23.8% | — |
现金转化率AFRMSM
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | 3.26× | ||
| Q2 25 | 1.08× | 2.83× | ||
| Q1 25 | 75.03× | 2.65× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 2.27× | ||
| Q1 24 | — | 2.10× |
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% |
SM
暂无分部数据
