AFRM
Affirm Holdings, Inc.
AFRM has the edge over ASTS overall, supported by stronger fundamentals and lower modeled downside.
ASTS
AST SpaceMobile, Inc.
ASTS offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
AFRM Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Weak |
AFRM's revenue, profitability and cash flow are currently healthy, but its balance sheet is weak.
ASTS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
ASTS's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
AFRM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 11x | $65.84 | — |
| Cheap | 14x | $82.33 | +25% |
| Forward | 30x | $65.84 | — |
| Fair | 68x | $393 | +497% |
| Expensive | 113x | $651 | +889% |
Historical ranges are pointers, not guarantees.
AFRM's PE is 11x, but its earnings don't support one, so it isn't a reliable read right now.
ASTS PE Valuation
ASTS has no meaningful PE right now: it lost money over the past year.
AFRM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for AFRM, with profitability improving. However, they disagree widely on these estimates.
ASTS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect ASTS's losses to grow, with revenue growing. However, they disagree widely on these estimates.
AFRM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.20 | -62% |
| Q3 2026 | $5.77 | +736% |
| Q2 2026 | $5.53 | +3587% |
| Q1 2026 | $1.12 | +$1.32 |
| Q4 2025 | $0.83 | +$1.47 |
| Q3 2025 | $0.69 | +$2.10 |
| Q2 2025 | $0.15 | +$1.82 |
| Q1 2025 | -$0.20 | +$2.03 |
| Q4 2024 | -$0.64 | +$1.85 |
AFRM has the edge over ASTS on earnings quality, reporting a profit while its opponent remains loss making.
ASTS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.15 | -$0.91 |
| Q2 2026 | -$2.16 | -$0.27 |
| Q1 2026 | -$1.80 | +$0.19 |
| Q4 2025 | -$1.34 | +$0.61 |
| Q3 2025 | -$1.24 | +$0.88 |
| Q2 2025 | -$1.89 | -$0.64 |
| Q1 2025 | -$1.99 | -$1.01 |
| Q4 2022 | -$0.58 | -$0.21 |
ASTS is still losing money, but far less than before: $2.15 per share over the past year, against $5.76 at its worst in mid-2021.
AFRM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +35% |
| Q2 2026 | $1.2B | +33% |
| Q1 2026 | $1B | +33% |
| Q4 2025 | $1.1B | +30% |
| Q3 2025 | $933.3M | +34% |
| Q2 2025 | $876.4M | +33% |
| Q1 2025 | $783.1M | +36% |
| Q4 2024 | $866.4M | +47% |
AFRM's revenue has grown year over year every quarter since late 2020: $1.3B last quarter, up 35% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +8 points |
| Q2 2026 | 13% | +6 points |
| Q1 2026 | 8.5% | +9.6 points |
| Q4 2025 | 10% | +11 points |
| Q3 2025 | 6.8% | +26 points |
| Q2 2025 | 6.6% | +18 points |
| Q1 2025 | -1.1% | +27 points |
| Q4 2024 | -0.5% | +29 points |
AFRM has the edge over ASTS on profitability, with a higher operating margin.
ASTS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $42.3M | +187% |
| Q2 2026 | $31.5M | +2627% |
| Q1 2026 | $14.7M | +1952% |
| Q4 2025 | $54.3M | +2731% |
| Q3 2025 | $14.7M | +1240% |
| Q2 2025 | $1.2M | +28% |
| Q1 2025 | $718K | +44% |
| Q3 2022 | $4.2M | +70% |
ASTS's revenue has grown year over year for 11 quarters in a row: $42M last quarter, up 187% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -415% | +694 points |
| Q2 2026 | -948% | +10744 points |
| Q1 2026 | -1686% | +7083 points |
| Q4 2025 | -175% | +2446 points |
| Q3 2025 | -1109% | +4850 points |
| Q2 2025 | -11692% | -4693 points |
| Q1 2025 | -8769% | +2331 points |
| Q4 2024 | -2621% | N/A |
ASTS's operating margin was −415% last quarter, up 694 points from the same quarter a year ago.
AFRM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $144.6M | -55% |
| Q2 2026 | $229.3M | +875% |
| Q1 2026 | $325.1M | +107% |
| Q4 2025 | $118M | -56% |
| Q3 2025 | $320.2M | +110% |
| Q2 2025 | $23.5M | -23% |
| Q1 2025 | $157.4M | -2.7% |
| Q4 2024 | $268.1M | +654% |
AFRM has the edge over ASTS on cash generation, producing positive trailing cash flow while its opponent burns cash.
ASTS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$464.2M | -$161.4M |
| Q2 2026 | -$694.8M | -$341.1M |
| Q1 2026 | -$309.7M | -$160.7M |
| Q4 2025 | -$330.7M | -$220.3M |
| Q3 2025 | -$302.9M | -$239.1M |
| Q2 2025 | -$353.6M | -$315.3M |
| Q1 2025 | -$149M | -$61.3M |
| Q4 2024 | -$110.5M | -$63.2M |
ASTS has burned cash in almost every quarter: −$1.8B over the past year, against −$916M the year before.
AFRM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +2.9M shares |
| 1 year | +1% | +3.5M shares |
| 3 years | +16% | +47.9M shares |
| 5 years | +29% | +80.1M shares |
| Available history | +68% | +142M shares |
AFRM has the edge over ASTS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
ASTS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +1.1M shares |
| 1 year | +10% | +27.3M shares |
| 3 years | +235% | +211M shares |
| 5 years | +480% | +248M shares |
| Available history | +944% | +271M shares |
ASTS has 300M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
AFRM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 9.5x | High |
| Q2 2026 | 11.3x | High |
| Q1 2026 | 11.8x | High |
| Q4 2025 | 15.1x | High |
| Q3 2025 | 17.9x | High |
| Q2 2025 | 45.4x | High |
| Q1 2025 | 755.3x | High |
AFRM's net debt is about 9.5 years of its operating earnings (EBITDA), down from 18 years a year ago.
ASTS Net Leverage
ASTS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
AFRM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.8 | Neutral |
| Stochastic | 14.7 | Oversold |
AFRM's weekly RSI is 45 (neutral) and its Stochastic is 15 (oversold).
ASTS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.1 | Neutral |
| Stochastic | 11.9 | Oversold |
ASTS's weekly RSI is 34 (neutral) and its Stochastic is 12 (oversold).
AFRM PE vs Technology Sector
| Metric | AFRM | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 59% below |
| PE % | 0 | 40 | 40 pts below |
AFRM is trading at 11x earnings, a 59% discount to the Technology sector's median of 28x, though its earnings don't support one.
ASTS PE vs Technology Sector
ASTS has no meaningful PE right now: it lost money over the past year.
AFRM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $71.8 | 8.3% below |
| 20 week MA | $74.2 | 11% below |
| 50 week MA | $67.3 | 2.2% below |
| 100 week MA | $65.8 | 0% above |
| 200 week MA | $47.4 | 39% above |
AFRM has the edge over ASTS on trend strength, trading above more of its moving averages.
ASTS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.9 | 23% below |
| 20 week MA | $57.1 | 40% below |
| 50 week MA | $75.5 | 54% below |
| 100 week MA | $57.8 | 40% below |
| 200 week MA | $33.6 | 2.8% above |
ASTS has fallen below most of its moving averages, though it's still 2.8% above its 200-week average.
AFRM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $117.0 | $101.2 | -14% |
| 2022 | $101.2 | $9.19 | -91% |
| 2023 | $9.19 | $49.1 | +435% |
| 2024 | $49.1 | $64.6 | +32% |
| 2025 | $64.6 | $75.8 | +17% |
| 2026 YTD | $75.8 | $65.8 | -13% |
AFRM has the edge over ASTS on returns for 2026, with the stronger performance.
ASTS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.87 | $13.4 | +36% |
| 2021 | $13.4 | $8.71 | -35% |
| 2022 | $8.71 | $3.97 | -54% |
| 2023 | $3.97 | $6.03 | +52% |
| 2024 | $6.03 | $22.9 | +280% |
| 2025 | $22.9 | $72.0 | +214% |
| 2026 YTD | $72.0 | $34.5 | -52% |
ASTS's yearly returns have swung widely, from +280% in 2024 to −54% in 2022. It's down 52% so far in 2026.