What metrics matter most when comparing Affirm and Klarna?

Key metrics include GMV growth rate, revenue as a percentage of GMV (which is lower for Klarna due to its zero-interest loan mix), delinquency and credit-loss trends, and progress toward sustained GAAP profitability.

How is the AI score calculated?

The AI score is a composite signal incorporating fundamental quality, valuation, momentum, analyst sentiment, and risk factors. A higher score indicates a more favorable overall setup relative to the market at the time of the latest update.

Why has Klarna's stock underperformed since its IPO?

Klarna priced its September 2025 IPO at $40 per share but has since traded well below that level, reflecting investor concerns about credit quality amid rising industry-wide late payments and questions about the durability of its profitability. The divergence between Klarna's larger GMV and lower revenue conversion, driven by its zero-interest loan mix, has also weighed on sentiment relative to faster-growing Affirm.

How does Affirm's growth compare to Klarna's?

Affirm's GMV has been growing faster in percentage terms than Klarna's, even though Klarna's absolute GMV base is roughly three times larger. Affirm's revenue has also periodically exceeded Klarns's despite the smaller GMV base, reflecting a higher share of interest-bearing loans.

What is the biggest shared risk for both BNPL companies?

Both companies are exposed to consumer credit cycles: a weakening labor market or rising household debt stress could push delinquencies higher across their loan books simultaneously. Both also depend on continued merchant adoption and favorable funding market access to keep originating loans at scale.

Data as of: August 31, 2026

brimindinvest.com / compare / affrm-vs-klarLIVE

AFFRM

Affirm Holdings, Inc. · Financial Technology (Buy Now, Pay Later)

N/A

N/A this month

VERSUS

COMPARE

KLAR

Klarna Group plc · Financial Technology (Buy Now, Pay Later / Digital Banking)

$14.69

-22.44% this month

Scoreboard verdict

Across AI score, momentum, valuation, upside, operating margin

AFFRM

0

KLAR

0

MIXED SETUP

Comparison scoreboard

MIXED SETUP

AI Score

AFFRM N/A

KLAR N/A

1Y Return

AFFRM N/A

KLAR N/A

Fwd P/E

AFFRM N/A

KLAR 18.40

Target Up.

AFFRM N/A

KLAR +38.05%

Op. Margin

AFFRM N/A

KLAR 2.97%

Metrics last refreshed: 8/31/2026

Quick take

AFFRM vs KLAR Stock Comparison: AI Score, Valuation, Performance and Upside

Affirm is generally evaluated as the faster-growing, U.S.-centric BNPL name that has recently turned durably profitable, while Klarna is judged as the larger global scale player still working to convince public-market investors of its earnings quality after a rocky post-IPO stock performance. The comparison largely turns on growth rate and credit discipline versus sheer scale.

Use this AFFRM vs KLAR comparison to weigh growth and margin trajectory against scale: Affirm has shown faster GMV growth and a swing to profitability, while Klarna carries a much larger transaction base but a stock price still well below its IPO level and greater sensitivity to credit-quality concerns.

Live analysis · updated 8/31/2026

AFFRM and KLAR are closely matched — they split the tracked metrics evenly.

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Normalized 1Y performance

AFFRM

KLAR

Not enough data to chart yet.

Recent returns

AFFRM

KLAR

Analyst price targets & sentiment

AFFRM

Price target data unavailable

N/A

KLAR · 19 analysts

STRONG BUYHOLDSTRONG SELL

Buy (2.1/5.0)

Price target range

analyst low$14.00
analyst high$38.30
analyst mean$20.28
current price$14.69

+38.0% upside to analyst mean

Who should consider this stock?

AFFRM may suit investors who:

Want exposure to the faster-growing side of the U.S. BNPL market
Value recent GAAP profitability and improving unit economics
Are comfortable with reliance on capital markets to fund loan originations
Believe deep merchant partnerships like Amazon support durable growth

KLAR may suit investors who:

Want exposure to a larger, more globally diversified BNPL and banking platform
Believe the stock's post-IPO decline has created a more attractive entry point
Are comfortable with a business mix weighted toward lower-revenue zero-interest loans
Want exposure to Klarna's broader banking-app ambitions beyond BNPL

Performance & AI score

Performance & AI score
Metric	AFFRM	KLAR
AI score	N/A	N/A
AI rank	N/A	N/A
Latest close	N/A	$14.69
1M return	N/A	-22.44%
6M return	N/A	+8.33%
1Y return	N/A	N/A

$10,000 invested — hypothetical growth (dividends reinvested)

How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?

$10,000 invested — hypothetical growth (dividends reinvested)
Period	AFFRM	KLAR
1Y ago	N/A	$3.44K (-65.6%) started 2025-09-11
5Y ago	N/A	$3.44K (-65.6%) started 2025-09-11
10Y ago	N/A	$3.44K (-65.6%) started 2025-09-11

Hypothetical — past performance does not guarantee future results.

Valuation & upside potential

Valuation & upside potential
Metric	AFFRM	KLAR
Market cap	N/A	$5.55B
Trailing P/E	N/A	N/A
Forward P/E	N/A	18.40
Price/Sales	N/A	1.38
EV/Revenue	N/A	0.63
Analyst target	N/A	$20.28
Target upside	N/A	+38.05%

Full DCF model for KLAR

Growth, profitability & risk

Growth, profitability & risk
Metric	AFFRM	KLAR
Revenue growth	N/A	26.60%
Earnings growth	N/A	N/A
EPS growth	N/A	N/A
FCF margin	N/A	+19.77%
Operating margin	N/A	2.97%
Profit margin	N/A	-3.52%
ROIC proxy	N/A	-4.29%
Return on equity	N/A	-4.29%
Dividend yield	N/A	0.00%
Beta	N/A	2.39
Debt/equity	N/A	65.72
Current ratio	N/A	23.15
Quick ratio	N/A	22.34

Drawdown & downside risk

Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.

1Y risk snapshot

AFFRM max drawdownN/A

KLAR max drawdown73.02%

AFFRM max wkly dropN/A

KLAR max wkly drop32.30%

5Y risk snapshot

AFFRM max drawdownN/A

KLAR max drawdown73.02%

AFFRM max wkly dropN/A

KLAR max wkly drop32.30%

10Y risk snapshot

AFFRM max drawdownN/A

KLAR max drawdown73.02%

AFFRM max wkly dropN/A

KLAR max wkly drop32.30%

Performance metrics by period

Performance metrics by period
Period	Metric	AFFRM	KLAR
1Y	Growth	N/A	-65.63%
	CAGR	N/A	-66.78%
	Sharpe ratio	N/A	-1.24
	Max drawdown	N/A	73.02%
	Max daily drop	N/A	26.91%
	Max wkly drop	N/A	32.30%
5Y	Growth	N/A	-65.63%
	CAGR	N/A	-66.78%
	Sharpe ratio	N/A	-1.24
	Max drawdown	N/A	73.02%
	Max daily drop	N/A	26.91%
	Max wkly drop	N/A	32.30%
10Y	Growth	N/A	-65.63%
	CAGR	N/A	-66.78%
	Sharpe ratio	N/A	-1.24
	Max drawdown	N/A	73.02%
	Max daily drop	N/A	26.91%
	Max wkly drop	N/A	32.30%

Business comparison

Business comparison
Category	AFFRM	KLAR
Company	Affirm Holdings, Inc.	Klarna Group plc
Sector	Financial Technology (Buy Now, Pay Later)	Financial Technology (Buy Now, Pay Later / Digital Banking)
Industry	N/A	N/A
Core business	Affirm provides point-of-sale installment loans and pay-over-time products through direct integrations with merchants and its own app and card, primarily in the U.S.	Klarna operates a global buy-now-pay-later and digital banking platform, offering installment payments, a shopping app, and a debit card across a much larger international merchant network than most U.S. peers.
Investor focus	Investors track Affirm's GMV growth, credit performance and delinquency trends, and its path to sustained GAAP profitability after reporting positive net income in recent quarters.	Investors are focused on Klarna's post-IPO stock performance well below its offer price, its much larger GMV base relative to revenue, and credit quality given a rise in industry-wide late payments.

AFFRM strengths

GMV growth has outpaced larger BNPL rival Klarna in percentage terms
Deep merchant integrations including large partners like Amazon and Shopify
Recently turned GAAP profitable with improving unit economics

KLAR strengths

Much larger global GMV base than Affirm, with deep European and expanding U.S. presence
Broad merchant network and consumer app used for both shopping and banking features
Recently returned to profitability alongside continued international expansion

Risks to watch — AFFRM

Credit risk if consumer delinquencies rise in a weaker macro environment
Reliance on funding markets and capital partners to finance loan originations
Intensifying competition from Klarna, Afterpay/Block, and PayPal's BNPL offerings

Risks to watch — KLAR

Stock has traded well below its September 2025 IPO price, reflecting market skepticism
Zero-interest loan mix means revenue per dollar of GMV lags Affirm's
Rising industry-wide late payments raising credit-quality concerns among investors

Frequently asked questions

Affirm has shown faster GMV growth and a clearer recent path to sustained profitability, making it the more straightforward growth story, while Klarna offers larger scale but has seen its stock fall sharply since its September 2025 IPO amid credit-quality concerns. Long-term investors focused on execution and profitability trends have generally favored Affirm, while those betting on a scale-driven re-rating may look at Klarna.

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