Affirm (AFRM)
Underwrites flexible installment payments across merchant checkouts, digital wallets, and Affirm Card.
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Offers Pay in X, monthly installment plans, and Affirm Card through merchant checkouts, digital wallets, and direct consumer channels. Revenue comes from merchant and card-network fees, interest, loan sales, and servicing, while the platform charges no late fees and operates through partner banks and capital-market funding.
Offers Pay in X, zero-interest and simple-interest monthly plans, and Affirm Card across merchant checkouts, digital wallets, its app, and virtual or physical cards.
Real-time underwriting and offer selection connect consumers with payment schedules disclosed up front, while merchant integrations, commerce platforms, and wallet partnerships broaden distribution. Distribution is rooted in the United States, with PayBright extending the platform into Canada.
Earnings come from merchant and card-network fees, interest, loan sales, and servicing rather than late fees. The model depends on partner banks, loan buyers, funding capacity, credit performance, merchant relationships, and consumer-credit rules; the proposed Affirm Bank remains subject to regulatory approval.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Needham | Target | Target: $100 | Target: $85 |
| Sep 14, 2026 | Wolfe Research | Reiterate | Rating: —Target: — | Target: $90 |
| Sep 8, 2026 | Loop Capital Markets | Initiate | Rating: —Target: $72 | Target: $105 |
| Sep 2, 2026 | Scotiabank | Initiate | Rating: —Target: — | Target: $95 |
| Aug 31, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $88 | Target: $97 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.60B · Total debt $9.82B · Total assets $15.79B · Shareholders' equity $5.48B
- Revenue
- $1.09B
- Operating income
- $265.3M
- Net income
- $1.62B
No dividends on record.
| Institutions | 77.60% | 261.85M shares | |
|---|---|---|---|
| 723 holders · as of Jun 30, 2026 | |||
| Insiders | 9.28% | 31.30M shares | |
| 15 holders · as of Sep 16, 2026 | |||
| Other | 13.12% | 44.26M shares | |
| remainder | |||
337.42M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Max R. Levchin1Insiderdirector, 10 percent owner, officer: Chief Executive Officer | 8.62% | 29.10M A | filed Jan 7, 2026 |
Capital Research Global InvestorsInstitution | 7.71% | 26.00M A | as of Jun 30, 2026 |
Capital World InvestorsInstitution | 6.85% | 23.12M A | as of Jun 30, 2026 |
Morgan StanleyInstitution | 6.82% | 23.00M A | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 5.81% | 19.61M A | as of Jun 30, 2026 |
- Max R. Levchin's transaction reports restate only vehicles that traded; the 2022 ownership statement (29.10M) is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | Siphelele Jiyane | officer: Chief Accounting Officer | −26,980 | $72.19 |
| Sep 4, 2026 | Siphelele Jiyane | officer: Chief Accounting Officer | −25,000 | $72.41 |
| Sep 3, 2026 | Katherine Adkins | officer: Chief Legal Officer | −41,664 | $75.53 |
| Sep 1, 2026 | Katherine Adkins | officer: Chief Legal Officer | −41,664 | $70.55 |
| Sep 2, 2026 | Robert O'Hare | officer: Chief Financial Officer | −5,886 | $74.02 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Affirm | $71.66 | +0.85% | $23.79B | 12.9 | 37.5 | 5.7 | +33.0% |
| Klarna | $13.51 | −1.24% | $5.16B | — | 103.3 | 1.3 | +26.6% |
| Block | $77.36 | −0.71% | $46.37B | 139.1 | 16.9 | 1.9 | +9.3% |
| PayPal | $52.22 | −0.76% | $45.01B | 9.9 | 9.4 | 1.3 | +4.8% |
| Synchrony Financial | $74.13 | −1.16% | $24.40B | 7.7 | 7.8 | 1.3 | −21.1% |
| Bread Financial | $107.00 | −0.93% | $4.36B | 8.4 | 8.7 | 0.9 | +7.2% |
| American Express | $309.83 | −1.20% | $211.77B | 19.0 | 16.6 | 2.5 | +10.0% |
| Median | 9.9 | 13.0 | 1.3 | +8.3% |