Company Valuation: Affirm Holdings, Inc.

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 17,854 5,173 4,533 9,339 22,305 22,254 - -
Change - -71.03% -12.37% 106.02% 138.84% -0.23% - -
Enterprise Value (EV) 1 17,118 7,996 9,039 14,873 28,771 20,275 19,242 17,953
Change - -53.29% 13.05% 64.54% 93.44% -29.53% -5.09% -6.7%
P/E ratio -24.8x -7.2x -4.59x -18.1x 461x 55x 37.6x 26.7x
PBR 7.03x 1.98x 1.8x 3.44x 7.32x 5.73x 4.13x 3.82x
PEG - 0.93x -0.1x 0.4x -4x 0x 0.8x 0.7x
Capitalization / Revenue 20.5x 3.83x 2.85x 4.02x 6.92x 5.3x 4.26x 3.41x
EV / Revenue 19.7x 5.93x 5.69x 6.4x 8.92x 4.83x 3.68x 2.75x
EV / EBITDA -47.7x -9.83x -8.48x -33.3x 209x 17x 12.2x 9.85x
EV / EBIT -45.1x -9.23x -7.53x -24.2x -330x 52.5x 28x 17.3x
EV / FCF -80.2x -40x -83.2x 51.1x 47.8x 19.6x 10.6x 5.89x
FCF Yield -1.25% -2.5% -1.2% 1.96% 2.09% 5.11% 9.4% 17%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -2.72 -2.51 -3.34 -1.67 0.15 1.207 1.767 2.486
Distribution rate - - - - - - - -
Net sales 1 870.5 1,349 1,588 2,323 3,224 4,196 5,227 6,531
EBITDA 1 -359.2 -813.3 -1,066 -446.8 137.9 1,194 1,572 1,823
EBIT 1 -379.2 -866 -1,201 -615.8 -87.27 386.4 686.8 1,036
Net income 1 -430.9 -707.4 -985.3 -517.8 52.19 421.5 633.8 923.2
Net Debt 1 -735.9 2,823 4,506 5,535 6,467 -1,979 -3,012 -4,301
Reference price 2 67.35 18.06 15.33 30.21 69.14 66.45 66.45 66.45
Nbr of stocks (in thousands) 265,093 286,430 295,686 309,125 322,600 334,899 - -
Announcement Date 09/09/21 25/08/22 24/08/23 28/08/24 28/08/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
55.34x4.83x16.98x-.--% 22.25B
24.88x5.07x12.06x1.2% 109B
42.58x13.09x25.5x-.--% 72.74B
26.95x4.54x15x-.--% 41.95B
23.81x7.09x13.31x-.--% 34.24B
170.67x9.92x48.73x-.--% 32.02B
46.38x24.55x40.28x1.82% 28.25B
7.34x2.83x6.72x4.19% 21.9B
11.93x0.95x1.51x-.--% 19.61B
7.07x - - 8.56% 16.33B
Average 41.69x 8.10x 20.01x 1.58% 39.81B
Weighted average by Cap. 40.86x 8.22x 19.66x 1.04%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Affirm Holdings, Inc.