Affirm Holdings (AFRM) Operating Margin (2019 - 2026)
Affirm Holdings' Operating Margin was 12.63% in fiscal Q4 2026 (quarter ended Jun 30, 2026), up 6.00 percentage points from 6.63% a year earlier and up 4.12 percentage points from the prior quarter.
Powered by 
Analysis
Affirm Holdings (AFRM) Operating Margin (2019 - 2026) Analysis & Trends
For FY2026 (ended Jun 30, 2026), Operating Margin at Affirm Holdings came in at 9.79%, up 12.49 percentage points from FY2025.
- Operating Margin has now increased for three consecutive fiscal years, with a five-year change of +53.86 percentage points (FY2021 to FY2026).
- In earlier fiscal years, Operating Margin was -2.71% in FY2025 (+23.80 pp), -26.51% in FY2024 (+49.11 pp), -75.62% in FY2023 (-11.44 pp) and -64.19% in FY2022 (-20.11 pp).
- The fiscal Q4 2026 figure marks the highest quarterly Operating Margin since fiscal Q4 2020.
- Compared with a year earlier, Operating Margin has increased for 13 straight quarters, with an average year-over-year change of +18.60 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was fiscal Q2 2024 (a gain of 60.86 percentage points); the worst was fiscal Q1 2022 (a drop of 42.51 percentage points).
- Per Business Quant data, AFRM's Operating Margin in the three fiscal quarters before Q4 2026 was 8.51% (Q3 2026), 10.47% (Q2 2026) and 6.82% (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.07 Bn | 28.75 Bn | - | - |
| 2 | Orix | 41.51 Bn | 42.01 Bn | 4.68 Bn | 15.28% |
| 3 | Royalty Pharma | 32.73 Bn | 32.65 Bn | - | 19.75% |
| 4 | Affirm Holdings | 27.21 Bn | 20.90 Bn | - | 12.63% |
| 5 | Synchrony Financial | 23.66 Bn | -44.31 Bn | - | - |
| 6 | Federal National Mortgage Association Fannie Mae | 23.53 Bn | 23.53 Bn | - | - |
| 7 | Royal Gold | 20.00 Bn | 19.23 Bn | 390.45 Mn | 62.13% |
| 8 | Annaly Capital Management | 13.74 Bn | 4.84 Bn | - | - |
| 9 | Ares Capital | 13.33 Bn | 10.76 Bn | - | - |
| 10 | Federal Home Loan Mortgage | 11.90 Bn | -6.84 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.63% |
| Mar 31, 2026 | 8.51% |
| Dec 31, 2025 | 10.47% |
| Sep 30, 2025 | 6.82% |
| Jun 30, 2025 | 6.63% |
| Mar 31, 2025 | -1.07% |
| Dec 31, 2024 | -0.50% |
| Sep 30, 2024 | -18.99% |
| Jun 30, 2024 | -11.14% |
| Mar 31, 2024 | -27.91% |
| Dec 31, 2023 | -29.12% |
| Sep 30, 2023 | -42.18% |
| Jun 30, 2023 | -54.69% |
| Mar 31, 2023 | -81.38% |
| Dec 31, 2022 | -89.98% |
| Sep 30, 2022 | -79.49% |
| Jun 30, 2022 | -76.13% |
| Mar 31, 2022 | -63.86% |
| Dec 31, 2021 | -54.35% |
| Sep 30, 2021 | -61.65% |
API Access
Affirm Holdings Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=AFRM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "AFRM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=AFRM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();