Affirm vs Upstart (AFRM vs UPST)

Affirm (AFRM) vs Upstart (UPST) in plain English: P/E, growth, margins, debt and dividend side by side, key differences and which fits each investor profile.

Affirm (AFRM) and Upstart (UPST) compete in financial services and payments. Here are Affirm and Upstart side by side with their real figures as of November 4, 2026: what sets them apart, which fits each kind of investor and the most common questions, without telling you whether to buy Affirm or Upstart.

Affirm vs Upstart: the figures

Affirm and Upstart figures from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026; N/A means that Affirm or Upstart figure is not available, and we never estimate it.

3 key differences between Affirm and Upstart

1. Valuation: Upstart trades at 38.3x its annual earnings and Affirm at 13.7x; the market pays more for each dollar of Upstart profit, usually because it expects more growth.
2. Profitability: for every 100 of sales, Affirm keeps 45.3 as net profit and Upstart keeps 4.7.
3. Size: Affirm is worth $25.5 billion on the stock market, about 11.0 times Upstart ($2.3 billion).

Affirm or Upstart: which fits your profile

• If you want growth: Upstart is growing faster today, so it fits better with investors who put business growth first, usually accepting a higher P/E and a bumpier ride.
• If you prefer caution: Affirm has less debt relative to its profit, which usually gives more room in a bad year.
• If price is what matters most to you: Affirm trades on the lower P/E; check first whether that is an opportunity or a sign of a business that grows less.

Neither Affirm nor Upstart wins on everything, and owning both is also an option: spreading money across several companies or an index fund reduces what rides on each one.

How Affirm and Upstart make money

Affirm (AFRM)

Affirm offers buy now, pay later installment loans at online and in-store merchants such as Amazon and Shopify, and through its own Affirm Card. It earns from fees merchants pay, interest on its loans and gains from selling those loans to investors. It operates in the US, Canada and the UK. Full Affirm analysis.

Upstart (UPST)

Upstart uses artificial intelligence models to decide who should get a loan. Most revenue comes from fees paid by banks and credit unions for each loan it originates for them, mainly personal loans but also auto and home equity loans. It operates in the United States and also earns interest on loans it keeps on its balance sheet. Full Upstart analysis.

Frequently asked questions: Affirm vs Upstart

Is Affirm or Upstart the better stock?

Choosing between Affirm and Upstart depends on what you are looking for. Upstart is growing faster right now, and Affirm trades on the lower P/E. Fintols does not tell you whether to buy Affirm or Upstart: it shows you the differences so you can decide.

Which pays a higher dividend, Affirm or Upstart?

Neither pays a dividend as of November 4, 2026: Affirm and Upstart put what they earn into growth or other forms of shareholder return.

Which is more expensive, Affirm or Upstart?

On P/E, Upstart (38.3x) is more expensive than Affirm (13.7x) as of November 4, 2026. A higher P/E can be justified if earnings grow faster, so compare it with each company's growth in the table.

Can I own both Affirm and Upstart?

Yes. Many people spread their money across several companies, such as Affirm and Upstart, or use index funds so they do not depend on just one. If you are starting out, decide how much you want to invest and for how long before buying Affirm or Upstart.

More comparisons with Affirm or Upstart

• Affirm vs Nu Holdings
• Affirm vs Deutsche Börse
• Adyen vs Affirm
• Nu Holdings vs Upstart

More companies like Affirm and Upstart: financial services and payments stocks. Educational content about Affirm and Upstart, not investment advice.