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Fairly valued
Morningstar Quantitative Rating as of 28 OCT 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 60.38 Fair value 74.66 One-star price 92.31
Morningstar Quantitative Rating as of 28 OCT 2026.
Morningstar Quantitative Rating as of 28 OCT 2026. The slider runs from the five-star price (60.38) to the one-star price (92.31).
| Ratios |
|---|
| Currency (Price/reporting): USD/USD |
| Exchange Rate: 1.0000 |
| Price - closing or last bid | 73.32 |
| Price - 12 month high | 90.44 |
| Price - 12 month low | 42.10 |
| Pricing date | 27 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 3.74 |
| Market capitalization | 21,767.39 |
| 12 Month High price date | 28 AUG 2026 |
| 12 Month Low price date | 27 MAR 2026 |
| Volume - avg. trading volume for the last 3 months | 4.23 |
| Price - 1 Day % Change | 0.88% |
| Price - 13 week price percent change | 1.27% |
| Price - 26 week price percent change | 16.09% |
| Price - 5 Day % Change | -0.26% |
| Price - 52 week price percent change | -3.42% |
| Price - YTD price percent change | -3.34% |
| Price % Change Month To Date | 9.09% |
| EPS excluding extraordinary items - most recent fiscal year | 5.530 |
| EPS excluding extraordinary items - trailing 12 month | 5.530 |
| EPS Normalized - most recent fiscal year | 6.652 |
| Revenue/share - most recent fiscal year | 12.215 |
| Revenue/share - trailing 12 month | 12.215 |
| Book value per share - most recent fiscal year | 16.264 |
| Book value per share - most recent quarter | 16.264 |
| Book value (tangible) per share - most recent fiscal year | 14.630 |
| Book value (tangible) per share - most recent quarter | 14.630 |
| Cash per share - most recent fiscal year | 4.834 |
| Cash per share - most recent quarter | 4.834 |
| Cash Flow per share - most recent fiscal year | 3.276 |
| Cash Flow per share - trailing 12 month | 3.276 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | 3.583 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 5.760 |
| EPS Basic excluding extraordinary items - trailing 12 month | 5.760 |
| EPS including extraordinary items - most recent fiscal year | 5.760 |
| EPS including extraordinary items - trailing 12 month | 5.760 |
| Free Cash Flow per share - trailing 12 month | 2.593 |
| P/E excluding extraordinary items, most recent fiscal year | 13.26 |
| P/E Normalized, most recent fiscal year | 11.02 |
| Price to sales - most recent fiscal year | 6.00 |
| Price to Tangible Book - most fiscal year | 5.01 |
| Price to Free Cash Flow per Share - most recent fiscal year | 28.28 |
| Price to Cash Flow per share - trailing 12 month | 22.38 |
| Price to Book - most recent fiscal year | 4.51 |
| P/E excluding extraordinary items high, trailing 12 months | 484.40 |
| P/E excluding extraordinary items low, trailing 12 months | 12.15 |
| Net Debt, LFI | 6,609.74 |
| Net Debt, LFY | 7,420.12 |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
| Free Cash Flow - most recent fiscal year | 904.49 |
| LT debt/equity - most recent fiscal year | 182.77% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 182.77% |
| LT debt/equity - most recent quarter | 240.28% |
| Total debt/total equity - most recent quarter | 240.28% |
| Free Cash Flow - trailing 12 month | 904.49 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 4,261.08 |
| Revenue - trailing 12 month | 4,261.08 |
| EBITD - most recent fiscal year | 1,250.08 |
| EBITD - trailing 12 month | 1,250.08 |
| Earnings before taxes - most recent fiscal year | 492.73 |
| Earnings before taxes - trailing 12 month | 492.73 |
| Net Income available to common - most recent fiscal year | 1,929.79 |
| Net Income available to common - trailing 12 months | 1,929.79 |
| Earnings before taxes Normalized - most recent fiscal year | 988.14 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 6.65 |
| Net Profit Margin % - 1st historical fiscal year | 45.29% |
| Net Profit Margin % - trailing 12 month | 45.29% |
| Operating margin - 1st historical fiscal year | 20.44% |
| Operating margin - trailing 12 month | 20.44% |
| Pretax margin - trailing 12 month | 11.56% |
| Pretax margin - 1st historical fiscal year | 11.56% |
| Operating Margin - 5 year average | -20.27% |
| Pretax Margin - 5 year average | -24.95% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 5.01% |
| Free Operating Cash Flow/Revenue, TTM | 21.23% |
| Net Profit Margin - 5 year average | -17.97% |
| Return on average assets - most recent fiscal year | 14.95% |
| Return on average assets - trailing 12 month | 14.95% |
| Return on average equity - most recent fiscal year | 50.30% |
| Return on average equity - trailing 12 month | 50.30% |
| Return on average assets - 5 year average | -6.24% |
| Return on average equity - 5 year average | -16.85% |
| Net Income/employee - most recent fiscal year | 818,402.46 |
| Revenue/employee - most recent fiscal year | 1,807,075.06 |
| Revenue growth rate, 5 year | 37.39% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | 17.45% |
| Growth rate% - Revenue, 3 year | 38.96% |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | 11.21% |
| Capital Spending growth rate, 5 year | 63.74% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Financial forecast (USD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financials (USD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
Announcements are available for ASX-listed companies only.
After peaking last November AFRM has crashed over 90% in a move reminiscent of the Dot.Com bubble i.e. just because a company said they were going to expand into the BNPL market didn’t mean the roads would be paved with gold although AFRM remains a $US6.2bn goliath in the space. This is now a space that has the jitters, the question today is will the previously hot lithium space follow in the footsteps of bitcoin and the BNPL space?
Over the weekend Affirm Holdings (AFRM US) and Amazon.com (AMZN US) announced a partnership that allows consumers to buy big ticket items (over $US50) in instalments, the result being that Affirm soared over 45% in one session! This is e-commerce goliath AMZN’s first partnership with a BNPL company which led to an understandable overnight...
The news out of the US on Tuesday night was pretty much all bad for the domestic and US BNPL space with speculation rife that tech goliath Apple Inc (AAPL US) was developing a “Buy now Pay later” product, the current main US player Affirm (AFRM US) has now fallen over 12% on the news over the last 2-days with a lack of bounce overnight a poor sign for the Australian players this morning.
New US stock in the sector AFRM fell another ~5% last night, as it continues to make fresh post float lows, not a great read through for today’s local sector which has previously been valued by many by comparison with US names in the sector.
MM is neutral Affirm (AFRM US)
MM is bullish AFRM following this news
MM is neutral AFRM around the $US55 area
MM is neutral AFRM
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 constitute the majority of its revenue. Affirm primarily operates in the United States, which accounted for more than 95% of its revenue in 2025, but it has also expanded to Canada and the United Kingdom.
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