Question 1

What is Affirm Holdings's P/S ratio?

Accepted Answer

Affirm Holdings (AFRM) P/S ratio is 6.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Affirm Holdings?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Affirm Holdings specifically, the relevant sector benchmark is the current sector median of 2.3×.

Question 5

Is Affirm Holdings's P/S ratio high or low?

Accepted Answer

Affirm Holdings's P/S ratio of 6.5× is below its own 5-year average of 8.4× and above the sector median of 2.3×. That places the current reading at the 57th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Affirm Holdings's historical P/S ratio range?

Accepted Answer

In the available daily series, Affirm Holdings (AFRM) P/S ratio has ranged from a low of 1.8× in 2023 to a high of 51.7× in 2021. The 5-year average is 8.4× and the 5-year median is 5.2×.

Question 7

What was Affirm Holdings's P/S ratio in 2025?

Accepted Answer

Affirm Holdings (AFRM) P/S ratio at the end of 2025 was 7.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Affirm Holdings's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$22.6B	$3.22B	7.0×	+3.0×	Jun 30, 2025
2024	$9.41B	$2.32B	4.1×	+1.2×	Jun 30, 2024
2023	$4.59B	$1.59B	2.9×	-1.0×	Jun 30, 2023
2022	$5.2B	$1.35B	3.9×	-16.8×	Jun 30, 2022
2021	$18B	$870M	20.7×	-18.7×	Jun 30, 2021
2020	$20.1B	$510M	39.4×	—	Jun 30, 2020


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American International Group (AIG)	1.5×
Capital One Financial (COF)	1.5×
Travelers Companies (TRV)	1.4×
Federal Agricultural Mortgage (AGM)	1.4×
Franklin Resources (BEN)	1.4×
Brookfield (BN)	1.3×
American Financial Group (AFG)	1.3×
Hartford Insurance Group (HIG)	1.3×
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PSB Holdings (PSBQ)	1.3×
Principal Financial Group (PFG)	1.3×
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Loews (L)	1.2×
AXIS Capital Holdings (AXS)	1.1×
Old Republic International (ORI)	1.0×
Assurant (AIZ)	0.8×
Allstate (ALL)	0.8×
Mercury General (MCY)	0.8×
Everest Group (EG)	0.8×
MetLife (MET)	0.6×
Prudential Financial (PRU)	0.5×
StoneX Group (SNEX)	0.0×
Atlantic Union Bankshares (AUB)	0.0×

P/S Ratio for Affirm Holdings (AFRM) 2020-2026

P/S Ratio daily chart for Affirm Holdings (AFRM)

Historical P/S Ratio for Affirm Holdings (AFRM) from 2020 to 2025

About P/S Ratio at Affirm Holdings (AFRM)

Affirm Holdings P/S Ratio by Year

Affirm Holdings P/S Ratio 2025: 7.0×

Affirm Holdings P/S Ratio 2024: 4.1×

Affirm Holdings P/S Ratio 2023: 2.9×

Affirm Holdings P/S Ratio 2022: 3.9×

Affirm Holdings P/S Ratio 2021: 20.7×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Affirm Holdings (AFRM) Key Financials