Affirm Holdings (AFRM) Cash Flow: Operating & Free Cash Flow

Affirm Holdings Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Affirm Holdings, Inc. (AFRM) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Jun 2026	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020	Jun 2019
Operating Activities
Net Income	1.93	0.05	-0.52	-0.99	-0.71	-0.44	-0.11	-0.12
Depreciation & Amortization	-0.29	0.23	0.17	0.13	0.05	0.00	0.01	0.01
Deferred Income Tax	-1.46	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Stock Based Compensation	0.30	0.32	0.34	0.45	0.39	0.29	0.00	0.00
Change in Working Capital	0.09	-0.05	-0.06	-0.13	-0.01	-0.10	0.03	-0.02
Change in Accounts Receivable	0.13	-0.08	-0.17	-0.07	-0.06	-0.02	-0.02	-0.02
Change in Accounts Payable	0.00	0.04	0.12	-0.01	0.00	0.03	0.01	0.00
Change in Other Working Capital	-0.05	-0.01	-0.32	-0.06	-0.40	-0.18	0.04	0.00
Other Operating Activities	0.65	0.25	-0.32	0.55	-0.40	-0.02	-0.01	0.04
Net Cash from Operating Activities	1.23	0.79	0.45	0.01	-0.16	-0.19	-0.08	-0.09
Investing Activities
Capital Expenditures	-0.24	-0.19	-0.16	-0.12	-0.11	-0.02	-0.02	-0.02
Acquisitions	0.00	0.00	0.00	-0.02	-0.01	-0.22	0.00	0.00
Purchases of Investments	-47.65	-0.82	-0.99	-1.08	-1.84	0.00	0.00	-1.89
Sales/Maturities of Investments	20.69	1.22	1.14	1.54	0.31	0.00	0.00	0.15
Other Investing Activities	24.65	-1.28	-0.03	-1.97	-0.39	-0.03	-0.23	1.41
Net Cash from Investing Activities	-2.55	-1.08	-1.33	-1.65	-2.01	-1.02	-0.25	-0.35
Financing Activities
Debt Repayment	2.18	1.29	-13.83	1.43	-4.64	-3.38	0.33	0.27
Common Stock Issued	0.16	0.00	0.03	0.00	0.00	1.35	0.02	0.31
Common Stock Repurchased	0.00	-0.25	-0.19	0.00	0.00	-0.16	-0.04	-0.02
Other Financing Activities	-0.33	-0.29	-0.28	-0.08	-0.20	-0.01	0.00	0.00
Net Cash from Financing Activities	2.01	0.75	0.91	1.35	2.04	2.58	0.30	0.57
Summary
Effect of Forex Changes on Cash	-0.01	0.00	0.00	0.00	-0.01	0.00	0.00	0.24
Net Change in Cash	0.68	0.46	0.04	-0.29	-0.14	1.36	-0.03	0.36
Cash at Beginning of Period	1.76	1.30	1.26	1.55	1.69	0.33	0.36	0.00
Cash at End of Period	2.43	1.76	1.30	1.26	1.55	1.69	0.33	0.36
Free Cash Flow	0.99	0.60	0.29	-0.11	-0.27	-0.21	-0.10	-0.11
Supplemental Disclosures
Interest Paid	-	0.40	0.32	0.16	0.05	0.04	-	-
Income Taxes Paid	-	0.00	0.00	0.00	0.00	0.00	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Affirm Holdings Cash Flow

What is Affirm Holdings's free cash flow?

Affirm Holdings generated free cash flow of $992.63M in fiscal 2026 (fiscal year ended Jun 30, 2026), operating cash flow of $1.23B minus $238.35M of capital expenditures. That was up 65.0% from $601.72M a year earlier. Free cash flow equaled 23.3% of revenue.

How much does Affirm Holdings spend on capital expenditures?

Affirm Holdings spent $238.35M on capital expenditures in fiscal 2026, compared with $192.19M a year earlier. That equals 19.4% of operating cash flow.

Does Affirm Holdings pay dividends or buy back shares?

Affirm Holdings's cash flow statement for fiscal 2026 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition