{ "ok": true, "cik": "1820953", "ticker": "AFRM", "name": "Affirm Holdings, Inc.", "filings": [ { "form": "10-K", "filed": "2026-08-27", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1820953/000162828026059279/0001628280-26-059279-index.htm" }, { "form": "8-K", "filed": "2026-08-27", "items": [ "2.02 Results of Operations and Financial Condition", "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1820953/000162828026059271/0001628280-26-059271-index.htm" }, { "form": "8-K", "filed": "2026-06-25", "items": [ "1.01 Entry into a Material Definitive Agreement", "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1820953/000162828026045491/0001628280-26-045491-index.htm" }, { "form": "10-Q", "filed": "2026-05-07", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1820953/000162828026032294/0001628280-26-032294-index.htm" }, { "form": "8-K", "filed": "2026-05-07", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1820953/000162828026032105/0001628280-26-032105-index.htm" }, { "form": "10-Q", "filed": "2026-02-05", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1820953/000162828026005855/0001628280-26-005855-index.htm" } ], "events12m": 7, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-08-27", "url": "https://www.sec.gov/Archives/edgar/data/1820953/000162828026059271/0001628280-26-059271-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001820953.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1820953" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up Affirm Holdings, Inc. ($AFRM). Last filing: 10-K, 2026-08-27. 7 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2026-06-30", "revenue": 4261082000, "revenueGrowth1y": 0.3215066809080229, "revenueGrowthPerYear": 0.3330716318187501, "yearsOfData": 5, "operatingMargin": 0.09785707010566799, "operatingMarginPrior": -0.02706633023323322, "netMargin": 0.4528880223379883, "operatingCashFlow": 1230974000, "capitalSpending": 238346000, "freeCashFlow": 992628000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 1630038000, "longTermDebt": 9794058000, "longTermDebtChange": 0.28705541887991615, "revenueHistory": [ { "fiscalYearEnd": "2022-06-30", "revenue": 1349292000 }, { "fiscalYearEnd": "2023-06-30", "revenue": 1587985000 }, { "fiscalYearEnd": "2024-06-30", "revenue": 2322999000 }, { "fiscalYearEnd": "2025-06-30", "revenue": 3224412000 }, { "fiscalYearEnd": "2026-06-30", "revenue": 4261082000 } ], "totalEquity": 5483824000, "totalAssets": 15790148000, "equityRatio": 0.3472940215633191, "returnOnEquity": 0.35190644338695043, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 5.76, "sharesOutstanding": 348846647, "bookValuePerShare": 15.71987016977119, "revenuePerShare": 12.214771265954004, "range80": { "low": 4890111349.443977, "high": 6513469037.772881, "baseline": 5776133209.560106, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5714285714285714, "growthYears": 5, "ownVolatility": 0.10495658410892926, "classVolatility": 0.07701947805587882, "volatility": 0.0940057279343422 }, "ifPaceHeld": { "low": 4890111349.443977, "high": 6513469037.772881 } }, "edgarette": "🔖 Exposure: revenue $4.3B (FY2026), total debt $9.8B. Experience: revenue up 32.2% on the year, up 33.3% a year over 4 years; operating margin 9.8%, up from -2.7%. Soundness: equity 34.7% of assets, return on equity 35.2%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $4.9B and $6.5B next year (method v4.1: its own 5-year record of growth weighed at 57% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $4.4B to $7.2B. A statistical range, not company guidance. Against peers (44 filers, $50M+ revenue, its industry group): operating margin 9.8% against a -3.1% median; growth 32.2% against 16.8%.", "peers": { "sic": 6141, "sicDescription": "Personal Credit Institutions", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "61", "growth": [ 0.1678, 73 ], "opMargin": [ -0.0311, 44 ], "equityRatio": [ 0.3091, 64 ], "returnOnEquity": [ 0.0201, 58 ], "payoutRatio": [ 0.4773, 11 ] }, "summary": "Affirm Holdings (AFRM) grew revenue 32.2% in FY2026 to $4.3 billion, operating margin 9.8% against a -3.1% median for personal credit institutions, equity 34.7% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Affirm Holdings, Inc. against its own record and its peers
Operating marginPeer median -3.1%9.8%Revenue, on the yearPeer median 16.8%32.2%Equity of assetsPeer median 30.9%34.7%Return on equityPeer median 2.0%35.2%Gold tick: the median of 58–64 peers with $50M+ revenue in personal credit institutions
", "chartHorizon": null, "backtest": { "tests": 4, "hits": 3, "rate": 0.75, "method": "v4", "byYear": { "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ], "2026": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T20:59:53.140Z", "hash": "fb771cb933e86b59", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Affirm Holdings (AFRM) grew revenue 32.2% in FY2026 to $4.3 billion, operating margin 9.8% against a -3.1% median for personal credit institutions, equity 34.7% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2026-06-30", "revenue": 4261082000, "totalDebt": 9794058000, "cash": 1630038000 }, "experience": { "revenueGrowth1y": 0.3215066809080229, "revenueGrowthPerYear": 0.3330716318187501, "operatingMargin": 0.09785707010566799, "operatingMarginPrior": -0.02706633023323322, "netMargin": 0.4528880223379883, "freeCashFlow": 992628000 }, "soundness": { "equityRatio": 0.3472940215633191, "returnOnEquity": 0.35190644338695043, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6141, "sicDescription": "Personal Credit Institutions", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "61", "growth": [ 0.1678, 73 ], "opMargin": [ -0.0311, 44 ], "equityRatio": [ 0.3091, 64 ], "returnOnEquity": [ 0.0201, 58 ], "payoutRatio": [ 0.4773, 11 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-08-27", "url": "https://www.sec.gov/Archives/edgar/data/1820953/000162828026059271/0001628280-26-059271-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 4890111349.443977, "high": 6513469037.772881, "baseline": 5776133209.560106, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.571, "growthYears": 5, "ownVolatility": 0.10495658410892926, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.0940057279343422, "k": 3 }, "stress": { "low": 4404054174.359421, "high": 7233064754.508713, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 4, "hits": 3, "rate": 0.75, "method": "v4", "byYear": { "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ], "2026": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T20:59:53.140Z", "hash": "fb771cb933e86b59", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001820953.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1820953" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2462, "growth3y": 0.3369, "volatility": 0.1186, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.2737, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "later", "inside": "Turns 24.6% of revenue into operating cash; revenue growing 33.7% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 74th percentile for cash, 95th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 74, "growthPctInClass": 95, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2026-06-30", "operating": 1230974000, "investing": -2553427000, "financing": 2009688000, "capitalSpending": 238346000, "free": 992628000, "trend": [ { "fiscalYearEnd": "2022-06-30", "operating": -162194000, "free": -248484000 }, { "fiscalYearEnd": "2023-06-30", "operating": 12181000, "free": -108594000 }, { "fiscalYearEnd": "2024-06-30", "operating": 450138000, "free": 290842000 }, { "fiscalYearEnd": "2025-06-30", "operating": 793909000, "free": 601720000 }, { "fiscalYearEnd": "2026-06-30", "operating": 1230974000, "free": 992628000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2026-06-30", "cash": 1630038000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 15790148000, "ladder": null, "currentRatio": null, "unrealizedGain": 1851000, "unrealizedLoss": 1762000, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2462, "growth3y": 0.3369, "volatility": 0.1186, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.2737, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "later", "inside": "Turns 24.6% of revenue into operating cash; revenue growing 33.7% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 74th percentile for cash, 95th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 74, "growthPctInClass": 95, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2026-06-30", "operating": 1230974000, "investing": -2553427000, "financing": 2009688000, "capitalSpending": 238346000, "free": 992628000, "trend": [ { "fiscalYearEnd": "2022-06-30", "operating": -162194000, "free": -248484000 }, { "fiscalYearEnd": "2023-06-30", "operating": 12181000, "free": -108594000 }, { "fiscalYearEnd": "2024-06-30", "operating": 450138000, "free": 290842000 }, { "fiscalYearEnd": "2025-06-30", "operating": 793909000, "free": 601720000 }, { "fiscalYearEnd": "2026-06-30", "operating": 1230974000, "free": 992628000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2026-06-30", "cash": 1630038000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 15790148000, "ladder": null, "currentRatio": null, "unrealizedGain": 1851000, "unrealizedLoss": 1762000, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }