Affirm Holdings, Inc.

AFRMNASDAQTechnology● Active

$65.88

+$2.27(+3.56%)

Market Cap$22.1B

P/E Ratio—

52W High$100

52W Low$42.095

Avg Volume5.3M

Open$64.00

Beta3.70

Free Cash Flow Financials Revenue

Affirm Holdings, Inc. (AFRM) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AFRM · free cash flow · updated Jun 8, 2026

Core FCF metrics

AFRM · FCF · TTM · margin & CAGR

Free cash flow was $601.7M for FY2025 (fiscal year ending 2025-06-30), up 106.9% year-over-year The FCF margin was 18.7%.

FY2025 Free Cash Flow$601.7M▲ +106.9% YoY

Trailing 12M (TTM)$787.1Mtrailing 4 quarters sum

FCF Margin18.7%$601.7M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

AFRM · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$793.9M(192M)$601.7M▲ +106.9%18.7%

FY2024$450.1M(159M)$290.8M▲ +367.8%12.5%

FY2023$12.2M(121M)−$108.6M▲ +60.4%-6.8%

FY2022−$162.2M(112M)−$273.9M▼ 28.4%-20.3%

FY2021−$193.1M(20M)−$213.4M▼ 113.4%-24.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

AFRM · P/FCF · FCF yield · FCF per share

Affirm Holdings, Inc. (AFRM) trades at a FCF yield of 3.58% and a price-to-free-cash-flow ratio of 27.0x. FCF per share stands at $2.44, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.58%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.44

TTM FCF ÷ Shares Outstanding

Price / FCF

x27.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x36.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-06-30

Cash flow statement summary

AFRM · cash flow statement · operating / investing / financing

For FY2025, Affirm Holdings, Inc. generated $793.9M in operating cash flow and spent 192M in capital expenditures, yielding $601.7M in free cash flow.

Operating Activities

+$793.9M

Cash from core business operations

2025-06-30

Investing Activities

−$1.08B

CapEx, acquisitions & investments

2025-06-30

Financing Activities

+$751.4M

Buybacks, dividends & debt

2025-06-30

FCF FormulaOperating CF ($793.9M) − |CapEx| (192M) = FCF ($601.7M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

AFRM vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Affirm Holdings, Inc.YOU

AFRM

$601.7M+106.9%18.7%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Affirm Holdings, Inc. (AFRM) reported free cash flow of $601.7M for FY2025 (fiscal year ending 2025-06-30), up 106.9% year-over-year. The FCF margin was 18.7%.

Based on available data, Affirm Holdings, Inc. has maintained positive free cash flow for at least 2 fiscal year(s). FCF peaked at $601.7M in FY2025.

Affirm Holdings, Inc.'s FCF yield is 3.58% and price-to-FCF ratio is 27.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

AFRM free cash flow · 8 questions

Affirm Holdings, Inc. free cash flow was $601.7M for FY2025, up 106.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $787.1M.

AFRM free cash flowAFRM FCFAFRM FCF 2025AFRM free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Affirm Holdings, Inc. · Affirm Holdings, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026