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Affirm Holdings, Inc.（AFRM）与Tecnoglass Inc.（TGLS）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Tecnoglass Inc.的1.6倍（$401.4M vs $245.3M），Affirm Holdings, Inc.净利率更高（32.3% vs 10.6%，领先21.6%），Affirm Holdings, Inc.同比增速更快（32.5% vs 2.4%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $11.4M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 12.8%）
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。
Tecnoglass Inc.是一家领先的建筑玻璃、铝制门窗及相关建材生产商，主要服务北美及拉美地区的住宅和商业建筑领域，为新建及翻新项目提供定制化、高能效的建筑解决方案。
AFRM vs TGLS — 直观对比
营收规模更大
AFRM
是对方的1.6倍
$245.3M
营收增速更快
AFRM
高出30.1%
2.4%
净利率更高
AFRM
高出21.6%
10.6%
自由现金流更多
AFRM
多$106.6M
$11.4M
两年增速更快
AFRM
近两年复合增速
12.8%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $245.3M |
| 净利润 | $129.6M | $26.1M |
| 毛利率 | — | 40.0% |
| 营业利润率 | 29.3% | 18.3% |
| 净利率 | 32.3% | 10.6% |
| 营收同比 | 32.5% | 2.4% |
| 净利润同比 | 61.3% | -44.5% |
| 每股收益（稀释后） | $0.37 | $0.57 |
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AFRMTGLS
| Q4 25 | $401.4M | $245.3M | ||
| Q3 25 | $320.5M | $260.5M | ||
| Q2 25 | $306.6M | $255.5M | ||
| Q1 25 | $272.5M | $222.3M | ||
| Q4 24 | $303.0M | $239.6M | ||
| Q3 24 | $231.8M | $238.3M | ||
| Q2 24 | $224.0M | $219.7M | ||
| Q1 24 | $195.0M | $192.6M |
净利润AFRMTGLS
| Q4 25 | $129.6M | $26.1M | ||
| Q3 25 | $80.7M | $47.2M | ||
| Q2 25 | $69.2M | $44.1M | ||
| Q1 25 | $2.8M | $42.2M | ||
| Q4 24 | $80.4M | $47.0M | ||
| Q3 24 | $-100.2M | $49.5M | ||
| Q2 24 | $-45.1M | $35.0M | ||
| Q1 24 | $-133.9M | $29.7M |
毛利率AFRMTGLS
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
营业利润率AFRMTGLS
| Q4 25 | 29.3% | 18.3% | ||
| Q3 25 | 19.9% | 25.1% | ||
| Q2 25 | 18.9% | 24.0% | ||
| Q1 25 | -3.1% | 26.7% | ||
| Q4 24 | -1.4% | 28.0% | ||
| Q3 24 | -57.2% | 28.4% | ||
| Q2 24 | -32.8% | 23.3% | ||
| Q1 24 | -82.5% | 21.3% |
净利率AFRMTGLS
| Q4 25 | 32.3% | 10.6% | ||
| Q3 25 | 25.2% | 18.1% | ||
| Q2 25 | 22.6% | 17.3% | ||
| Q1 25 | 1.0% | 19.0% | ||
| Q4 24 | 26.5% | 19.6% | ||
| Q3 24 | -43.2% | 20.8% | ||
| Q2 24 | -20.2% | 15.9% | ||
| Q1 24 | -68.7% | 15.4% |
每股收益（稀释后）AFRMTGLS
| Q4 25 | $0.37 | $0.57 | ||
| Q3 25 | $0.23 | $1.01 | ||
| Q2 25 | $0.22 | $0.94 | ||
| Q1 25 | $0.01 | $0.90 | ||
| Q4 24 | $0.23 | $1.00 | ||
| Q3 24 | $-0.31 | $1.05 | ||
| Q2 24 | $-0.13 | $0.75 | ||
| Q1 24 | $-0.43 | $0.63 |
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 | $104.1M |
| 总债务越低越好 | $9.0B | $174.4M |
| 股东权益账面价值 | $3.5B | $713.1M |
| 总资产 | $13.0B | $1.3B |
| 负债/权益比越低杠杆越低 | 2.54× | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资AFRMTGLS
| Q4 25 | $1.5B | $104.1M | ||
| Q3 25 | $1.4B | $127.1M | ||
| Q2 25 | $1.4B | $140.9M | ||
| Q1 25 | $1.4B | $160.2M | ||
| Q4 24 | $1.2B | $137.5M | ||
| Q3 24 | $1.0B | $124.8M | ||
| Q2 24 | $1.0B | $129.5M | ||
| Q1 24 | $1.3B | $138.8M |
总债务AFRMTGLS
| Q4 25 | $9.0B | $174.4M | ||
| Q3 25 | $7.7B | $114.7M | ||
| Q2 25 | $7.6B | $110.6M | ||
| Q1 25 | $7.1B | $110.6M | ||
| Q4 24 | $7.3B | $111.1M | ||
| Q3 24 | — | $126.8M | ||
| Q2 24 | $1.8B | $144.7M | ||
| Q1 24 | — | $160.9M |
股东权益AFRMTGLS
| Q4 25 | $3.5B | $713.1M | ||
| Q3 25 | $3.3B | $764.0M | ||
| Q2 25 | $3.1B | $736.0M | ||
| Q1 25 | $2.9B | $685.1M | ||
| Q4 24 | $2.8B | $631.2M | ||
| Q3 24 | $2.8B | $613.3M | ||
| Q2 24 | $2.7B | $574.8M | ||
| Q1 24 | $2.6B | $573.6M |
总资产AFRMTGLS
| Q4 25 | $13.0B | $1.3B | ||
| Q3 25 | $11.5B | $1.2B | ||
| Q2 25 | $11.2B | $1.2B | ||
| Q1 25 | $10.4B | $1.1B | ||
| Q4 24 | $10.5B | $1.0B | ||
| Q3 24 | $10.1B | $996.3M | ||
| Q2 24 | $9.5B | $942.5M | ||
| Q1 24 | $9.2B | $981.6M |
负债/权益比AFRMTGLS
| Q4 25 | 2.54× | 0.24× | ||
| Q3 25 | 2.35× | 0.15× | ||
| Q2 25 | 2.48× | 0.15× | ||
| Q1 25 | 2.49× | 0.16× | ||
| Q4 24 | 2.62× | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | 0.67× | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $11.4M |
| 自由现金流率自由现金流/营收 | 29.4% | 4.7% |
| 资本支出强度资本支出/营收 | 13.9% | 8.0% |
| 现金转化率经营现金流/净利润 | 1.34× | 1.19× |
| 过去12个月自由现金流最近4个季度 | $619.1M | $34.5M |
8季度趋势，按日历期对齐
经营现金流AFRMTGLS
| Q4 25 | $173.7M | $31.0M | ||
| Q3 25 | $374.6M | $40.0M | ||
| Q2 25 | $74.6M | $17.9M | ||
| Q1 25 | $210.4M | $46.9M | ||
| Q4 24 | $312.0M | $61.1M | ||
| Q3 24 | $196.9M | $41.5M | ||
| Q2 24 | $68.8M | $34.5M | ||
| Q1 24 | $208.2M | $33.4M |
自由现金流AFRMTGLS
| Q4 25 | $118.0M | $11.4M | ||
| Q3 25 | $320.2M | $21.2M | ||
| Q2 25 | $23.5M | $-14.7M | ||
| Q1 25 | $157.4M | $16.5M | ||
| Q4 24 | $268.1M | $35.4M | ||
| Q3 24 | $152.7M | $17.8M | ||
| Q2 24 | $30.5M | $14.2M | ||
| Q1 24 | $161.7M | $23.6M |
自由现金流率AFRMTGLS
| Q4 25 | 29.4% | 4.7% | ||
| Q3 25 | 99.9% | 8.2% | ||
| Q2 25 | 7.7% | -5.7% | ||
| Q1 25 | 57.7% | 7.4% | ||
| Q4 24 | 88.5% | 14.8% | ||
| Q3 24 | 65.9% | 7.5% | ||
| Q2 24 | 13.6% | 6.5% | ||
| Q1 24 | 82.9% | 12.2% |
资本支出强度AFRMTGLS
| Q4 25 | 13.9% | 8.0% | ||
| Q3 25 | 17.0% | 7.2% | ||
| Q2 25 | 16.7% | 12.7% | ||
| Q1 25 | 19.5% | 13.7% | ||
| Q4 24 | 14.5% | 10.7% | ||
| Q3 24 | 19.0% | 9.9% | ||
| Q2 24 | 17.1% | 9.2% | ||
| Q1 24 | 23.8% | 5.1% |
现金转化率AFRMTGLS
| Q4 25 | 1.34× | 1.19× | ||
| Q3 25 | 4.64× | 0.85× | ||
| Q2 25 | 1.08× | 0.41× | ||
| Q1 25 | 75.03× | 1.11× | ||
| Q4 24 | 3.88× | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | — | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
