Affirm
AFRM · Transaction & Payment Processing Services
$70.08
3.2%Global Payments
GPN · Transaction & Payment Processing Services
$82.82
3.6%The short version
- Global Payments is the larger business, with $7.7B of revenue in fiscal 2025 against $4.3B for Affirm, about 1.8 times as much.
- Affirm grew revenue faster (32.2%, against −0.4%).
- Global Payments kept more of each dollar of sales as operating profit (22.8% operating margin, against 9.8% operating margin).
- Global Payments turned more of its sales into free cash flow (26.5% FCF margin, against 23.3% FCF margin).
| Latest fiscal year | AFRM · FY26 | GPN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $24.4B | $22.4B |
| Revenue | $4.3B | $7.7B |
| Free cash flow | $993M | $2.0B |
| Net income | $1.9B | $1.4B |
| Growth | ||
| Revenue growth | 32.2% | −0.4% |
| 5-year growth | 37.4% | 0.8% |
| Share count change | 2.3% | −5.0% |
| Profitability | ||
| Gross margin | — | 72.6% |
| Operating margin | 9.8% | 22.8% |
| Net margin | 45.3% | 18.2% |
| FCF margin | 23.3% | 26.5% |
| Return on capital | — | 3.8% |
| Return on equity | 45.1% | 6.2% |
| Balance sheet | ||
| Net debt | — | $13.2B |
| Net debt / EBITDA | — | 4.4x |
| Dividends and buybacks | $0.0M | $1.4B |
| Valuation & quality | ||
| P/E | 12.7x | — |
| Piotroski F-score | — | 6 |
FY17
AFRM —
GPN $4.0B
FY18
AFRM —
GPN $3.4B
FY19
AFRM $264M
GPN $4.9B
FY20
AFRM $510M
GPN $7.4B
FY21
AFRM $871M
GPN $8.5B
FY22
AFRM $1.3B
GPN $9.0B
FY23
AFRM $1.6B
GPN $7.4B
FY24
AFRM $2.3B
GPN $7.7B
FY25
AFRM $3.2B
GPN $7.7B
FY26
AFRM $4.3B
GPN —
AFRM
GPN
FY17
AFRM —
GPN 14.1%
FY18
AFRM —
GPN 21.9%
FY19
AFRM −48.2%
GPN 16.1%
FY20
AFRM −21.2%
GPN 12.0%
FY21
AFRM −44.1%
GPN 15.9%
FY22
AFRM −64.2%
GPN 7.1%
FY23
AFRM −75.6%
GPN 17.8%
FY24
AFRM −26.5%
GPN 25.5%
FY25
AFRM −2.7%
GPN 22.8%
FY26
AFRM 9.8%
GPN —
AFRM
GPN
FY17
AFRM —
GPN $330M
FY18
AFRM —
GPN $893M
FY19
AFRM −$107M
GPN $1.1B
FY20
AFRM −$92.3M
GPN $1.9B
FY21
AFRM −$213M
GPN $2.3B
FY22
AFRM −$248M
GPN $1.6B
FY23
AFRM −$109M
GPN $1.9B
FY24
AFRM $291M
GPN $2.4B
FY25
AFRM $602M
GPN $2.0B
FY26
AFRM $993M
GPN —
AFRM
GPN
FY17
AFRM —
GPN 8.2%
FY18
AFRM —
GPN 8.3%
FY19
AFRM —
GPN 3.2%
FY20
AFRM —
GPN 2.2%
FY21
AFRM —
GPN 3.3%
FY22
AFRM —
GPN 0.9%
FY23
AFRM —
GPN 2.8%
FY24
AFRM —
GPN 4.5%
FY25
AFRM —
GPN 3.8%
FY26
AFRM —
GPN —
AFRM
GPN
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.