Affirm Holdings, Inc. (AFRM) Balance Sheet
AFRM balance sheet, FY2026
June 30, 2026 · U.S. dollars$15.79B assets = $10.31B liabilities + $5.48B equity
Both columns are drawn to the same scale: what AFRM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AFRM financial health
Descriptive bands, not a rating. Fiscal FY2026.
AFRM balance sheet trends, FY2019–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.15BFY2019 | $15.79BFY2026 | +45.4%/yr | |
| Total liabilities | $1.41BFY2019 | $10.31BFY2026 | +32.8%/yr | |
| Shareholders’ equity | −$263.4MFY2019 | $5.48BFY2026 | — | |
| Cash & short-term investments | $320.4MFY2019 | $2.60BFY2026 | +34.9%/yr | |
| Total debt | $586.0MFY2019 | $9.82BFY2026 | +49.6%/yr | |
| Net cash (debt) | −$265.5MFY2019 | −$7.22BFY2026 | −$7.0B | |
| Working capital | $1.06BFY2019 | $2.66BFY2026 | +$1.6B | |
| Book value per share | −$1.02FY2019 | $15.72FY2026 | — | |
| Debt / equity | 0.77FY2021 | 1.79FY2026 | +1.02 | |
| Shares outstanding | 257.4MFY2019 | 348.8MFY2026 | +4.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AFRM assets
AFRM liabilities and equity
AFRM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AFRM balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $2.60B | $2.23B | $2.14B | $2.07B | $2.85B | $1.48B | $267.1M | $320.4M |
| Cash & equivalents | $2.43B | $1.35B | $1.01B | $892.0M | $1.26B | $1.47B | $267.1M | $320.4M |
| Short-term investments | $647.8M | $871.4M | $1.13B | $1.17B | $1.60B | $16.2M | — | — |
| Receivables | $284.4M | $7.06B | $5.73B | $4.41B | $2.49B | $2.02B | $59.0M | $43.1M |
| Inventory | $0 | $0 | −$334.3M | $1 | −$72.7M | −$171.8M | $1 | −$630.7M |
| Other current assets | $0 | $474.2M | $666.8M | $418.0M | $408.5M | $543.3M | $1.01B | $1.35B |
| Total current assets | $2.89B | $9.76B | $8.21B | $6.90B | $5.68B | $3.88B | $1.34B | $1.08B |
| Property, plant & equipment (net) | $685.8M | $591.8M | $449.5M | $320.3M | $222.2M | $120.3M | $48.1M | $33.6M |
| Goodwill & intangible assets | $550.9M | $547.1M | $546.9M | $577.0M | $618.5M | $584.4M | $3.8M | $0 |
| Long-term investments | $40.4M | $40.3M | $73.0M | $1.17B | $1.60B | $11.3M | $939.2M | $669.2M |
| Other non-current assets | $11.63B | $217.2M | $240.6M | $0 | $0 | $274.2M | $0 | $0 |
| Total assets | $15.79B | $11.15B | $9.52B | $8.16B | $6.97B | $4.87B | $1.40B | $1.15B |
| Liabilities | ||||||||
| Accounts payable | $84.6M | $82.8M | $41.0M | $28.6M | $33.1M | $57.8M | $18.4M | $10.8M |
| Short-term debt | $226.8M | $199.8M | $16.7M | $218.7M | $16.4M | $104.2M | $74.2M | $569.2M |
| Deferred revenue | — | — | −$100.7M | −$218.7M | −$16.4M | −$104.2M | $4.5M | $2.8M |
| Total current liabilities | $226.8M | $180.1M | $125.0M | $92.8M | $107.1M | $108.2M | $36.3M | $19.8M |
| Long-term debt | $9.99B | $7.82B | $6.57B | $3.58B | $3.33B | $1.91B | $892.1M | $569.2M |
| Lease obligations | $29.2M | $31.9M | $39.5M | $52.6M | $65.7M | $75.0M | $0 | — |
| Other long-term liabilities | $85.9M | $84.5M | $87.8M | $1.95B | $914.2M | $275.9M | $840.9M | $822.9M |
| Total liabilities | $10.31B | $8.09B | $6.79B | $5.62B | $4.36B | $2.29B | $1.77B | $1.41B |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | — | — |
| Retained earnings (deficit) | −$1.13B | −$3.06B | −$3.11B | −$2.59B | −$1.61B | −$898.5M | −$447.2M | −$318.2M |
| Accumulated other comprehensive income | −$36.4M | −$15.1M | −$21.6M | −$15.4M | −$7.1M | $6.8M | −$302,000 | −$8.8M |
| Total shareholders' equity | $5.48B | $3.07B | $2.73B | $2.53B | $2.62B | $2.58B | −$367.1M | −$263.4M |
| Key figures | ||||||||
| Total debt | $9.82B | $7.85B | $6.61B | $5.45B | $4.14B | $1.98B | $917.1M | $586.0M |
| Net cash (debt) | −$7.22B | −$5.63B | −$4.47B | −$3.38B | −$1.29B | −$499.6M | −$650.1M | −$265.5M |
| Working capital | $2.66B | $9.58B | $8.08B | $6.81B | $5.57B | $3.77B | $1.30B | $1.06B |
| Tangible book value | $4.93B | $2.52B | $2.19B | $1.96B | $2.00B | $1.99B | −$370.8M | −$263.4M |
| Book value per share | $15.72 | $9.00 | $8.82 | $8.58 | $9.29 | $9.56 | −$1.43 | −$1.02 |
| Shares outstanding | 348.8M | 341.0M | 309.9M | 295.3M | 281.7M | 269.5M | 257.4M | 257.4M |
| Current ratio | 12.73 | 54.19 | 65.70 | 74.34 | 53.02 | 35.83 | 36.91 | 54.70 |
| Quick ratio | 12.73 | 51.55 | 63.04 | 69.84 | 49.88 | 32.40 | 8.98 | 18.40 |
| Debt / equity | 1.79 | 2.56 | 2.42 | 2.15 | 1.58 | 0.77 | — | — |
| Equity / assets | 34.7% | 27.5% | 28.7% | 31.1% | 37.5% | 52.9% | −26.2% | −22.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.60B | $2.97B | $2.25B | $1.48B | $2.23B | $2.13B | $1.87B | $2.12B | $2.14B | $2.05B | $1.95B | $2.10B |
| Cash & equivalents | $2.43B | $2.47B | $1.53B | $1.43B | $1.35B | $1.35B | $1.20B | $1.05B | $1.01B | $1.27B | $1.04B | $1.08B |
| Short-term investments | $647.8M | $493.8M | $723.4M | $48.9M | $871.4M | $780.2M | $666.7M | $1.07B | $1.13B | $781.4M | $914.1M | $1.02B |
| Receivables | $284.4M | $230.7M | $8.56B | $283.7M | $7.06B | $6.49B | $6.65B | $6.29B | $5.73B | $5.48B | $5.28B | $236.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | −$593.4M | $0 | −$300.6M | −$418.1M | −$29,000 | $1 |
| Other current assets | $0 | $0 | $653.3M | $746.8M | $474.2M | $462.1M | $1.19B | $393.6M | $633.1M | $817.0M | $514.5M | $4.78B |
| Total current assets | $2.89B | $2.71B | $11.47B | $2.51B | $9.76B | $9.08B | $9.11B | $8.80B | $8.21B | $7.94B | $7.75B | $7.12B |
| Property, plant & equipment (net) | $708.8M | $668.3M | $665.8M | $630.7M | $591.8M | $564.8M | $523.8M | $492.7M | $449.5M | $425.6M | $394.9M | $366.0M |
| Goodwill & intangible assets | $550.9M | $556.7M | $546.1M | $542.6M | $547.1M | $534.8M | $533.9M | $550.2M | $546.9M | $551.1M | $558.6M | $556.2M |
| Long-term investments | $40.4M | $40.4M | $40.4M | $40.4M | $40.3M | $42.3M | $64.0M | $56.9M | $73.0M | $73.1M | $72.9M | $51.9M |
| Other non-current assets | $11.60B | $9.16B | $236.5M | $7.76B | $217.2M | $213.6M | $249.9M | $240.7M | $240.6M | $213.6M | $289.4M | $314.1M |
| Total assets | $15.79B | $13.14B | $12.96B | $11.48B | $11.15B | $10.44B | $10.48B | $10.14B | $9.52B | $9.20B | $9.06B | $8.41B |
| Liabilities | ||||||||||||
| Accounts payable | $84.6M | $59.6M | $57.2M | $58.0M | $82.8M | $41.1M | $50.6M | $57.6M | $41.0M | $35.2M | $59.8M | $27.3M |
| Short-term debt | $226.8M | $3.8M | $8.1M | $12.3M | $199.8M | $4.2M | — | — | $345.7M | $4.1M | $10.2M | $195.9M |
| Deferred revenue | — | — | — | — | — | — | — | — | −$100.7M | — | −$10.2M | −$195.9M |
| Total current liabilities | $226.8M | $3.8M | $171.4M | $171.7M | $180.1M | $143.9M | $150.2M | $136.1M | $125.0M | $118.8M | $135.4M | $89.1M |
| Long-term debt | $9.99B | $9.05B | $9.14B | $7.93B | $7.82B | $7.32B | $7.46B | $7.08B | $6.57B | $6.37B | $6.20B | $5.63B |
| Lease obligations | $29.2M | $38.6M | $42.3M | $28.1M | $31.9M | $35.6M | $32.0M | $35.8M | $39.5M | $43.1M | $45.5M | $49.1M |
| Other long-term liabilities | $85.9M | $302.2M | $99.1M | $77.8M | $84.5M | $94.7M | $81.4M | $83.4M | $87.8M | $89.4M | $96.8M | $118.2M |
| Total liabilities | $10.31B | $9.36B | $9.41B | $8.18B | $8.09B | $7.56B | $7.70B | $7.30B | $6.79B | $6.58B | $6.43B | $5.84B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
| Retained earnings (deficit) | −$1.13B | −$2.74B | −$2.85B | −$2.98B | −$3.06B | −$3.13B | −$3.13B | −$3.21B | −$3.11B | −$3.06B | −$2.93B | −$2.76B |
| Accumulated other comprehensive income | −$36.4M | −$23.6M | −$16.9M | −$24.4M | −$15.1M | −$44.5M | −$47.6M | −$9.1M | −$21.6M | −$17.3M | −$7.1M | −$25.2M |
| Total shareholders' equity | $5.48B | $3.78B | $3.55B | $3.30B | $3.07B | $2.87B | $2.79B | $2.84B | $2.73B | $2.62B | $2.63B | $2.57B |
| Key figures | ||||||||||||
| Total debt | $9.82B | $8.91B | $9.18B | $7.96B | $7.85B | $7.36B | $7.50B | $7.12B | $6.61B | $6.41B | $6.24B | $5.68B |
| Net cash (debt) | −$7.22B | −$5.94B | −$6.93B | −$6.48B | −$5.63B | −$5.23B | −$5.63B | −$5.00B | −$4.47B | −$4.36B | −$4.29B | −$3.58B |
| Working capital | $2.66B | $2.71B | $11.30B | $2.34B | $9.58B | $8.94B | $8.96B | $8.66B | $8.08B | $7.82B | $7.61B | $7.03B |
| Tangible book value | $4.93B | $3.23B | $3.00B | $2.76B | $2.52B | $2.34B | $2.25B | $2.29B | $2.19B | $2.07B | $2.08B | $2.01B |
| Book value per share | $15.68 | $10.87 | $10.15 | $9.47 | $8.96 | $8.35 | $8.07 | $8.91 | $8.66 | $8.39 | $8.57 | $8.45 |
| Shares outstanding | 349.7M | 348.1M | 349.4M | 348.3M | 342.6M | 344.2M | 345.2M | 318.2M | 315.5M | 312.6M | 307.6M | 303.8M |
| Current ratio | 12.73 | 717.01 | 66.90 | 14.61 | 54.19 | 63.09 | 60.66 | 64.66 | 65.70 | 66.81 | 57.22 | 79.89 |
| Quick ratio | 12.73 | 845.79 | 63.09 | 10.26 | 51.55 | 59.88 | 56.71 | 61.77 | 63.04 | 63.46 | 53.42 | 26.23 |
| Debt / equity | 1.79 | 2.36 | 2.59 | 2.41 | 2.56 | 2.56 | 2.69 | 2.51 | 2.42 | 2.44 | 2.37 | 2.21 |
| Equity / assets | 34.7% | 28.8% | 27.4% | 28.7% | 27.5% | 27.5% | 26.6% | 28.0% | 28.7% | 28.5% | 29.1% | 30.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed August 27, 2026); data from EODHD.
AFRM financial position
At the end of fiscal 2026 (June 30, 2026), Affirm had total assets of $15.8 billion (up 41.6% from a year earlier), total liabilities of $10.3 billion and shareholders' equity of $5.5 billion. It held $2.6 billion in cash and short-term investments against $9.8 billion of debt, net debt of $7.2 billion. Its current ratio was 12.73.
Related: AFRM income statement, AFRM cash flow statement, AFRM key metrics. See the AFRM stock overview for the latest quote and news.
AFRM balance sheet FAQ
What are Affirm's total assets?
Affirm reported total assets of $15.8 billion at the end of fiscal 2026 (June 30, 2026), compared with $11.2 billion a year earlier.
How much debt does Affirm have?
Affirm had $9.8 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.79.
How much cash does Affirm have?
Affirm held $2.6 billion in cash and short-term investments at the end of fiscal 2026; with $9.8 billion of debt that is net debt of $7.2 billion.
What is Affirm's book value?
Affirm's shareholders' equity (book value) was $5.5 billion at the end of fiscal 2026, or $15.72 per share.
What is Affirm's current ratio?
Affirm had current assets of $2.9 billion and current liabilities of $226.8 million, a current ratio of 12.73 (it can cover its short-term obligations).
How much goodwill does Affirm have?
Affirm carried $550.9 million of goodwill and intangible assets, 3.5% of total assets, at the end of fiscal 2026.