AFRM

Affirm Holdings, Inc.

Financial Services · $23.3B market cap

Verdict

We can't put a fair value on AFRM right now. It's valued like a bank, but its return on tangible equity (or its tangible book value) isn't positive, so there's nothing to base a value on.

Business quality

2 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth—?
Equity per share growth6.5% a year✗
Sales growth38.7% a year✓
Free cash flow growth84.7% a year✓
Return on invested capital2.7%✗

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Superinvestors

3 of the investors we track hold AFRM. In Q2 2026, 2 added and 1 trimmed. Who we track

Insider activity

Since Sep 1, 2026: no open-market purchases, 8 sales worth $9.5M and 32 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

Other filings

Adkins Katherine

Chief Legal Officer · 2026-09-03

Option exercise

$870K

Adkins Katherine

Chief Legal Officer · 2026-09-03

Option exercise

$98K

Jiyane Siphelele

Chief Accounting Officer · 2026-09-01

Option exercise

1,122 shares

Jiyane Siphelele

Chief Accounting Officer · 2026-09-01

Option exercise

2,500 shares

Jiyane Siphelele

Chief Accounting Officer · 2026-09-01

Option exercise

3,333 shares

Show all 32 other filings

Linford Michael

President · 2026-09-01

Option exercise

2,338 shares

Linford Michael

President · 2026-09-01

Tax withholding

$326K

Linford Michael

President · 2026-09-01

Option exercise

11,719 shares

Michalek Libor

President · 2026-09-01

Option exercise

3,707 shares

Michalek Libor

President · 2026-09-01

Option exercise

5,319 shares

Michalek Libor

President · 2026-09-01

Option exercise

2,338 shares

Michalek Libor

President · 2026-09-01

Tax withholding

$405K

Michalek Libor

President · 2026-09-01

Option exercise

11,364 shares

O'Hare Robert

Chief Financial Officer · 2026-09-01

Option exercise

2,781 shares

O'Hare Robert

Chief Financial Officer · 2026-09-01

Option exercise

1,357 shares

O'Hare Robert

Chief Financial Officer · 2026-09-01

Option exercise

2,128 shares

O'Hare Robert

Chief Financial Officer · 2026-09-01

Option exercise

5,019 shares

O'Hare Robert

Chief Financial Officer · 2026-09-01

Option exercise

702 shares

O'Hare Robert

Chief Financial Officer · 2026-09-01

Tax withholding

$427K

O'Hare Robert

Chief Financial Officer · 2026-09-01

Option exercise

11,987 shares

Adkins Katherine

Chief Legal Officer · 2026-09-01

Option exercise

1,403 shares

Adkins Katherine

Chief Legal Officer · 2026-09-01

Option exercise

5,086 shares

Adkins Katherine

Chief Legal Officer · 2026-09-01

Option exercise

2,483 shares

Adkins Katherine

Chief Legal Officer · 2026-09-01

Option exercise

1,622 shares

Adkins Katherine

Chief Legal Officer · 2026-09-01

Option exercise

$929K

Adkins Katherine

Chief Legal Officer · 2026-09-01

Tax withholding

$335K

Adkins Katherine

Chief Legal Officer · 2026-09-01

Option exercise

10,594 shares

Jiyane Siphelele

Chief Accounting Officer · 2026-09-01

Option exercise

2,083 shares

Jiyane Siphelele

Chief Accounting Officer · 2026-09-01

Tax withholding

$249K

Jiyane Siphelele

Chief Accounting Officer · 2026-09-01

Option exercise

9,038 shares

Linford Michael

President · 2026-09-01

Option exercise

3,707 shares

Linford Michael

President · 2026-09-01

Option exercise

5,674 shares

About Affirm Holdings, Inc.

Affirm Holdings, Inc. provides a digital and mobile-first commerce platform that operates across the United States and Canada. This platform offers consumers a point-of-sale financing solution, delivers various tools for merchants, and includes a dedicated mobile application for users. Leveraging its payment network and partnerships with originating banks, the company enables customers to spread the cost of their…

Financial - Credit Services

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works