Affirm Holdings, Inc. (AFRM) intrinsic value & 10-year financials
Affirm Holdings, Inc. (AFRM) has a Graham intrinsic value of $4.98 per share. At $74.01 on Oct 17, 2026, the stock trades 1386% above that value. Over the last 8 fiscal years revenue grew 41.2% a year to $1.1B, with an average return on invested capital of -5.5%.
- Graham intrinsic value
- $4.98
- Share price (Oct 17, 2026)
- $74.01
- Price vs Graham value
- 1386% above
- Market cap
- $25.2B
- Revenue (FY2025)
- $1.1B
- Revenue growth (8-yr CAGR)
- 41.2%
- ROIC (10-yr avg)
- -5.5%
- Free cash flow (FY2025)
- $601.7M
AFRM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.1B | $52.2M | $0.15 | $601.7M | -7.8% | -1.2% |
| FY2024 | $826.0M | -$517.8M | -$1.67 | $290.8M | -74.6% | -17.3% |
| FY2023 | $626.9M | -$985.3M | -$3.34 | -$108.6M | -191.5% | -46.4% |
| FY2022 | $559.2M | -$707.4M | -$2.51 | -$248.5M | -154.9% | -32.5% |
| FY2021 | $429.4M | -$430.9M | -$2.88 | -$213.4M | -88.3% | -34.1% |
| FY2020 | $276.1M | -$112.6M | -$2.63 | -$92.3M | -39.0% | 34.2% |
| FY2019 | $140.3M | -$120.5M | -$2.84 | -$107.1M | -90.9% | 58.9% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Affirm Holdings, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Affirm Holdings, Inc. has historically struggled to out-earn its cost of capital, averaging just -5.5% ROIC.
Affirm Holdings, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Affirm Holdings, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $4.98 per share.