Affirm (AFRM) vs Upstart (UPST)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Affirm (AFRM) has outperformed Upstart (UPST) over the past year, gaining 2.5% versus a loss of 53.3%. Over five years, AFRM leads with a -47.4% price change compared with -93.8% for UPST. Affirm is the larger company by market cap ($27.02 billion vs $2.36 billion), about 11.5 times the size, while Upstart is growing revenue faster (+64.0% vs +32.2%).
On valuation, Upstart trades at a lower forward P/E (7.0x vs 16.6x for Affirm). Affirm converts more of its revenue into profit, with a net margin of 45.3% versus 5.1%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | AFRM | UPST |
|---|---|---|
| Share price | $80.07 | $24.21 |
| Market cap | $27.02B | $2.36B |
| 1-day change | +3.78% | +0.08% |
| YTD return | +3.65% | -44.68% |
| 1-year return | +2.52% | -53.27% |
| 5-year return | -47.42% | -93.80% |
| P/E ratio (TTM) | 14.48 | 48.42 |
| Forward P/E | 16.58 | 6.96 |
| EPS (TTM) | $5.53 | $0.50 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $4.26B | $1.04B |
| Revenue growth (YoY) | +32.15% | +63.99% |
| Net income (latest FY) | $1.93B | $53.60M |
| Operating margin | 9.79% | 4.08% |
| Net margin | 45.29% | 5.13% |
| 52-week high | $90.44 | $55.22 |
| 52-week low | $42.10 | $22.56 |
| Distance from 52-week high | -11.47% | -56.16% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +23.22% | +65.22% |
| Average volume | 4.23M | 4.27M |
| Shares outstanding | 296.88M | 97.31M |
| Employees | 2,358 | 1,405 |
| Sector | Finance | Finance |
| Industry | Finance: Consumer Services | Finance: Consumer Services |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Affirm is about 11.5 times larger than Upstart by market value ($27.02B vs $2.36B).
- AFRM has outperformed UPST by 55.8 percentage points over the past year.
- Upstart trades at a higher earnings multiple (48.4x vs 14.5x trailing P/E).
- Affirm is more profitable, keeping 45.3 cents of every revenue dollar as net income versus 5.1 cents for Upstart.
- Upstart grew revenue faster in its latest fiscal year (+63.99% vs +32.15%).
About Affirm
AFRM stock →Affirm Holdings, Inc. operates payment network in the United States, Canada, and internationally.
Finance · Finance: Consumer Services · 2,358 employees
About Upstart
UPST stock →Upstart Holdings, Inc., together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. The company operates through three segments: Personal Lending, Auto Lending, and Other.
Finance · Finance: Consumer Services · 1,405 employees
AFRM vs UPST FAQ
Which is bigger, Affirm or Upstart?
Affirm (AFRM) is larger, with a market capitalization of $27.02B compared with $2.36B for Upstart (UPST).
Which stock has performed better over the past year, AFRM or UPST?
AFRM returned +2.52% over the past 12 months, compared with -53.27% for UPST (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, AFRM or UPST?
AFRM has the lower trailing P/E at 14.5, versus 48.4 for UPST. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are Affirm and Upstart in the same industry?
Yes. Both are classified in the Finance: Consumer Services industry within the Finance sector.