Is Affirm Still Attractive After Klarna Delays BNPL Data Sharing?

  • October 8, 2025
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Is Affirm Still Attractive After Klarna Delays BNPL Data Sharing?

If you are trying to decide what to do with Affirm Holdings stock, you are far from alone. It is easy to see why it is capturing so much attention. The share price has been all over the map lately, most recently up 4.9% in the last week and up a jaw-dropping 86.3% over the past year. Investors who stuck around for three years have seen nearly 300% returns. Still, the ride is not always smooth. In the last 30 days, the stock fell 12.2%, which might have some people wondering if the risks are heating up again.

Much of this volatility can be traced to the shifting world of "buy now, pay later" financial technology, a space Affirm knows inside and out. Big headlines have centered around Klarna’s upcoming U.S. IPO plans and moves by key players such as JPMorgan starting to charge fintechs like Affirm for data access. Additionally, the news that Klarna and others might not report BNPL loan data to credit bureaus right away could keep risk perceptions in flux for companies in this sector. All of these developments together add fuel to both the optimism and the uncertainty surrounding Affirm’s future.

But price action is only one piece of the puzzle. What about the actual value you are getting at today’s price? Here is where the analysis gets interesting. Based on six common valuation checks, Affirm only comes up undervalued in one, giving it a value score of 1. In the next section, I will break down how these valuation methods stack up and hint at a smarter, more holistic approach to understanding the company’s true worth, so stick around for that.

Affirm Holdings scores just 1/6 on our valuation checks. See what other red flags we found in the full valuation breakdown .

Approach 1: Affirm Holdings Excess Returns Analysis

The Excess Returns model evaluates a company based on how much profit it generates above the required cost of equity, essentially measuring how efficiently shareholder money is being put to work. For Affirm Holdings, this approach highlights the company’s current financial dynamics and growth potential as seen through the eyes of analysts.

Here are the key figures: the Book Value sits at $9.44 per share, while Affirm’s anticipated Stable Earnings Per Share (EPS) are $1.62, according to a weighted average of six analyst forecasts. The calculated Cost of Equity is $1.11 per share, which puts the Excess Return (the actual return above that cost) at $0.51 per share. Impressively, the average Return on Equity (ROE) stands at 11.77%. Analysts also project a Stable Book Value of $13.76 per share in the future (from four separate sources).

OK