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Affirm Holdings Inc(AFRM)
Top performer 
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for AFRM
10/28/2026: AFRM (5-star) is a SELL. SELL for 3 days. Simulated Profits (-11.62%). Updated daily EoD!
Affirm Holdings Inc is a prominent financial technology company specializing in point-of-sale consumer financing and buy now, pay later solutions. The company has a leading position in merchant-integrated lending, known for its transparent 'no late fee' model. Its main growth opportunity lies in scaling its debit-style Affirm Card and expanding its user base across both digital and physical retail. However, the company faces significant risks from regulatory scrutiny, intense competition from legacy banks, and its sensitivity to credit cycles. Affirm is best suited for growth-oriented investors who can tolerate volatility, as the company works toward consistent long-term profitability amidst an evolving financial landscape.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Strong fit | Affirm offers exposure to the high-growth fintech sector and rapidly expanding digital lending market. |
| Momentum investor | Mixed fit | The stock often reacts strongly to tech sector sentiment and interest rate changes, requiring a conditional approach based on market trends. |
| Value investor | Weak fit | Affirm typically trades at high valuation multiples relative to current earnings, which is common for growth-stage fintechs. |
| Dividend investor | Weak fit | The company does not pay dividends and prioritizes capital reinvestment into growth. |
| Low-risk investor | Weak fit | High price volatility and exposure to credit cycles make this stock unsuitable for conservative portfolios. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock is susceptible to significant price swings driven by macro news and interest rate expectations. |
| Valuation risk | Medium / high | Market expectations for growth are high, leaving little margin for error in quarterly performance. |
| Competition risk (Fintech and Banking) | High | Direct competition from firms like Block and legacy banks pressures margins and market share. |
| Business quality | Medium | While the platform has a leading position in BNPL, the business remains sensitive to the credit cycle. |
| Dividend income | Low / none | The company does not provide income, making it a poor choice for yield-focused investors. |
| Execution risk | Medium / high | The company must consistently balance aggressive growth with maintaining high underwriting standards. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Choppy
The stock has experienced frequent reversals and pronounced short-term price swings.
Analysis of Past Performance
Type Stock | Historic Profit 173.22% | Avg. Invested days 38 | Today’s Advisory SELL |
Upturn Advisory Rating  | Upturn Advisory Performance  4.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 10/28/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 24.52B USD | Price to earnings Ratio 13.14 | 1Y Target Price 98.33 |
Price to earnings Ratio 13.14 | 1Y Target Price 98.33 | ||
Volume (30-day avg) 3.8M shares | Beta 3.82 | 52 Weeks Range 42.09 - 90.44 | Updated Date 10/28/2026 |
52 Weeks Range 42.09 - 90.44 | Updated Date 10/28/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 5.53 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Merchant Network | Merchant fees paid by retailers to offer Affirm's financing solutions to their customers. | Affirm makes money when merchants pay to help their customers close more sales. |
| Interest Income | Interest earned on consumer loans held on Affirm's balance sheet. | The company earns interest from consumers who utilize longer-term financing plans. |
| Virtual Card Services | Interchange fees and other revenues generated from the use of the Affirm Card. | Affirm earns a small fee whenever users make purchases with their branded payment card. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2026-11-05 | When After Market | Estimate 0.35 | Actual - |
Profitability
Profit Margin 45.29% | Operating Margin (TTM) 12.63% |
Management Effectiveness
Return on Assets (TTM) 1.93% | Return on Equity (TTM) 45.13% |
Valuation
Trailing PE 13.14 | Forward PE 34.01 | Enterprise Value 31.94B | Price to Sales(TTM) 5.76 |
Enterprise Value 31.94B | Price to Sales(TTM) 5.76 | ||
Enterprise Value to Revenue 7.24 | Enterprise Value to EBITDA 24.69 | Shares Outstanding 296.88M | Shares Floating 283.76M |
Shares Outstanding 296.88M | Shares Floating 283.76M | ||
Percent Insiders 4.3 | Percent Institutions 87.89 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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