Affirm
AFRM · NasdaqPersonal Credit Institutions · Fiscal year ends Jun 30
Affirm reported revenue of $1.4B in the fiscal year ended Jun 2026, up 29.6% from the year before. Operating income was $417M, an operating margin of 28.9%, and net income was $1.9B. Operating cash flow of $1.2B less capital expenditure of $238M left free cash flow of $993M. Net debt was $8.2B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | $559M | $627M | $826M | $1.1B | $1.4B |
| Operating income | −$866M | −$1.2B | −$616M | −$87M | $417M |
| Interest expense | $70M | $183M | $344M | $425M | $454M |
| Pre-tax income | −$725M | −$989M | −$516M | $61M | $493M |
| Income tax | −$17M | −$4M | $2M | $9M | −$1.4B |
| Net income | −$707M | −$985M | −$518M | $52M | $1.9B |
| Diluted EPS | −2.51 | −3.34 | −1.67 | 0.15 | 5.53 |
| Diluted shares | 282M | 295M | 310M | 341M | 349M |
Balance sheet
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.3B | $892M | $1B | $1.4B | $1.6B |
| Net PP&E | $171M | $290M | $428M | $573M | $686M |
| Goodwill | $540M | $543M | $533M | $534M | $524M |
| Total assets | $7B | $8.2B | $9.5B | $11.2B | $15.8B |
| Long-term debt | – | – | $1.8B | $7.6B | $9.8B |
| Total liabilities | $4.4B | $5.6B | $6.8B | $8.1B | $10.3B |
| Shareholders' equity | $2.6B | $2.5B | $2.7B | $3.1B | $5.5B |
Cash flow
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Operating cash flow | −$162M | $12M | $450M | $794M | $1.2B |
| Capital expenditure | $86M | $121M | $159M | $192M | $238M |
| Free cash flow | −$248M | −$109M | $291M | $602M | $993M |
| Depreciation & amortisation | $53M | $135M | $169M | $225M | $303M |
| Stock-based compensation | $391M | $452M | $345M | $321M | $305M |
| Acquisitions | $6M | $16M | $0 | $0 | – |
| Share buybacks | $86,000 | $109,000 | $0 | $250M | $0 |
Key ratios
| Fiscal year | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.1% | 31.8% | 34.9% | 29.6% |
| EPS growth (YoY) | – | – | – | – | 3586.7% |
| Operating margin | −154.9% | −191.5% | −74.6% | −7.8% | 28.9% |
| Net margin | −126.5% | −157.2% | −62.7% | 4.7% | 133.6% |
| Return on equityBlank when equity is negative | −27.0% | −38.9% | −19.0% | 1.7% | 35.2% |
| Free cash flow margin | −44.4% | −17.3% | 35.2% | 54.0% | 68.7% |
| Cash conversion (CFO ÷ net income) | 0.23x | −0.01x | −0.87x | 15.2x | 0.64x |
| Interest cover | −12.4x | −6.56x | −1.79x | −0.21x | 0.92x |
| Debt ÷ equity | – | – | 0.67x | 2.48x | 1.79x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | – | $824M | $6.3B | $8.2B |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.