$66.27
-6.7%Affirm Holdings, Inc. operates a platform for digital and mobile-first commerce in the United States and Canada. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months. As of June 30, 2021, the company had approximately 29,000 merchants integrated on its platform covering small businesses, large enterprises, direct-to-consumer brands, brick-and-mortar stores, and companies. Its merchants represent a range of industries, including sporting goods and outdoors, furniture and homewares, travel, apparel, accessories, consumer electronics, and jewelry. The company was founded in 2012 and is headquartered in San Francisco, California.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.6B | $3.2B | $6.4B | $12.7B | $25.4B | $50.8B | $101.6B | $203.2B | $406.5B | $813.0B |
| Maintenance CapEx | -$76.9M | -$153.8M | -$307.5M | -$615.0M | -$1.2B | -$2.5B | -$4.9B | -$9.8B | -$19.7B | -$39.4B |
| Owner Earnings | $1.5B | $3.0B | $6.0B | $12.1B | $24.2B | $48.4B | $96.7B | $193.4B | $386.8B | $773.6B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $1.4B | $2.6B | $4.8B | $8.9B | $16.5B | $30.5B | $56.4B | $104.5B | $193.5B | $358.3B |
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