Affirm Valuation Multiples

Affirm Overview

About Affirm

Founded in 2012, Affirm is a market leader in the buy-now, pay-later space with around $36 billion in transaction volume in fiscal 2025. Affirm offers both zero-interest financing, which is merchant subsidized, and interest-bearing loans, which function as personal loans that are approved on a per-transaction basis. Over 70% of Affirm's transaction volume comes from its interest-bearing loans, which also comprise the majority of its revenue. Affirm operates in the United States, which accounted for more than 95% of its revenue in 2025, but the firm has also expanded to Canada and the United Kingdom.

Founded

2019

HQ

Employees

2.2K

Website

affirm.com

Sectors

Payments POSBNPLFinTech

Financials (LTM)

Revenue: $4B

EBITDA: $1B

EV

$27B

Valuation Multiples

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Affirm Financials

Affirm reported last 12-month revenue of $4B and EBITDA of $1B.

In the same LTM period, Affirm generated $2B in gross profit, $1B in EBITDA, and $314M in net income.

Affirm P&L

In the most recent fiscal year, Affirm reported revenue of $3B and EBITDA of $731M.

Affirm expects next 12-month revenue of XXX and NTM EBITDA of XXX

Affirm Stock Performance

Affirm has current market cap of $20B, and enterprise value of $27B.

Affirm's stock price is $60.28.

Affirm Valuation Multiples

Affirm trades at 6.8x EV/Revenue multiple, and 25.1x EV/EBITDA.

Affirm Financial Valuation Multiples

As of April 17, 2026, Affirm has market cap of $20B and EV of $27B.

Equity research analysts estimate Affirm's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Affirm has a P/E ratio of 64.0x.

Affirm Margins & Growth Rates

Affirm's revenue in the last 12 month grew by 25%.

Affirm's revenue per employee in the last FY averaged $1.5M, while opex per employee averaged $0.8M for the same period.

Affirm's rule of 40 is 55% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Affirm's rule of X is 94% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Affirm Public Comps

See public comps and valuation multiples for other Payments POS and BNPL comps.

Affirm M&A Activity

Affirm acquired XXX companies to date.

Last acquisition by Affirm was on XXXXXXXX, XXXXX. Affirm acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Affirm Investment Activity

Affirm invested in XXX companies to date.

Affirm made its latest investment on XXXXXXXX, XXXXX. Affirm invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).