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UPSTART HOLDINGS INC (UPST) Stock Fundamental Analysis

NASDAQ:UPST - Nasdaq - US91680M1071 - Common Stock - Currency: USD

46.33  -0.68 (-1.45%)

Fundamental Rating

4

Overall UPST gets a fundamental rating of 4 out of 10. We evaluated UPST against 51 industry peers in the Consumer Finance industry. The financial health of UPST is average, but there are quite some concerns on its profitability. UPST is valued quite expensively, but it does show have an excellent growth rating.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

UPST had positive earnings in the past year.
UPST had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: UPST reported negative net income in multiple years.
In multiple years UPST reported negative operating cash flow during the last 5 years.
UPST Yearly Net Income VS EBIT VS OCF VS FCFUPST Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 -200M -400M -600M

1.2 Ratios

With a Return On Assets value of -2.89%, UPST is not doing good in the industry: 84.31% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of -9.82%, UPST is doing worse than 80.39% of the companies in the same industry.
Industry RankSector Rank
ROA -2.89%
ROE -9.82%
ROIC N/A
ROA(3y)-7.65%
ROA(5y)-2.85%
ROE(3y)-24.75%
ROE(5y)-11.1%
ROIC(3y)N/A
ROIC(5y)N/A
UPST Yearly ROA, ROE, ROICUPST Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 -20 -30

1.3 Margins

UPST has a better Gross Margin (77.97%) than 68.63% of its industry peers.
In the last couple of years the Gross Margin of UPST has declined.
The Profit Margin and Operating Margin are not available for UPST so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 77.97%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.44%
GM growth 5Y-2.38%
UPST Yearly Profit, Operating, Gross MarginsUPST Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40 60 80

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4

2. Health

2.1 Basic Checks

UPST does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for UPST has been increased compared to 1 year ago.
Compared to 5 years ago, UPST has more shares outstanding
Compared to 1 year ago, UPST has a worse debt to assets ratio.
UPST Yearly Shares OutstandingUPST Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
UPST Yearly Total Debt VS Total AssetsUPST Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

UPST has an Altman-Z score of 1.76. This is a bad value and indicates that UPST is not financially healthy and even has some risk of bankruptcy.
UPST has a Altman-Z score of 1.76. This is in the better half of the industry: UPST outperforms 68.63% of its industry peers.
UPST has a debt to FCF ratio of 11.70. This is a negative value and a sign of low solvency as UPST would need 11.70 years to pay back of all of its debts.
With a Debt to FCF ratio value of 11.70, UPST perfoms like the industry average, outperforming 45.10% of the companies in the same industry.
A Debt/Equity ratio of 1.97 is on the high side and indicates that UPST has dependencies on debt financing.
The Debt to Equity ratio of UPST (1.97) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 1.97
Debt/FCF 11.7
Altman-Z 1.76
ROIC/WACCN/A
WACC7.85%
UPST Yearly LT Debt VS Equity VS FCFUPST Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B

2.3 Liquidity

UPST has a Current Ratio of 2.38. This indicates that UPST is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 2.38, UPST is in the better half of the industry, outperforming 72.55% of the companies in the same industry.
A Quick Ratio of 2.38 indicates that UPST has no problem at all paying its short term obligations.
UPST has a Quick ratio of 2.38. This is in the better half of the industry: UPST outperforms 72.55% of its industry peers.
Industry RankSector Rank
Current Ratio 2.38
Quick Ratio 2.38
UPST Yearly Current Assets VS Current LiabilitesUPST Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 180.49% over the past year.
The Revenue has grown by 34.11% in the past year. This is a very strong growth!
The Revenue has been growing by 31.13% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)180.49%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%196.77%
Revenue 1Y (TTM)34.11%
Revenue growth 3Y-9.14%
Revenue growth 5Y31.13%
Sales Q2Q%66.96%

3.2 Future

UPST is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 86.05% yearly.
The Revenue is expected to grow by 30.79% on average over the next years. This is a very strong growth
EPS Next Y631.61%
EPS Next 2Y215.85%
EPS Next 3Y135.07%
EPS Next 5Y86.05%
Revenue Next Year68.71%
Revenue Next 2Y43.99%
Revenue Next 3Y33.93%
Revenue Next 5Y30.79%

3.3 Evolution

The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
UPST Yearly Revenue VS EstimatesUPST Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
UPST Yearly EPS VS EstimatesUPST Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 1 2 3

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2

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 140.39 indicates a quite expensive valuation of UPST.
Compared to the rest of the industry, the Price/Earnings ratio of UPST indicates a rather expensive valuation: UPST more expensive than 84.31% of the companies listed in the same industry.
UPST's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.17.
UPST is valuated rather expensively with a Price/Forward Earnings ratio of 20.75.
UPST's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. UPST is more expensive than 68.63% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of UPST to the average of the S&P500 Index (22.10), we can say UPST is valued inline with the index average.
Industry RankSector Rank
PE 140.39
Fwd PE 20.75
UPST Price Earnings VS Forward Price EarningsUPST Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, UPST is valued a bit more expensive than 70.59% of the companies in the same industry.
Industry RankSector Rank
P/FCF 38.63
EV/EBITDA N/A
UPST Per share dataUPST EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as UPST's earnings are expected to grow with 135.07% in the coming years.
PEG (NY)0.22
PEG (5Y)N/A
EPS Next 2Y215.85%
EPS Next 3Y135.07%

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0

5. Dividend

5.1 Amount

UPST does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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UPSTART HOLDINGS INC

NASDAQ:UPST (5/29/2025, 2:16:02 PM)

46.33

-0.68 (-1.45%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryConsumer Finance
Earnings (Last)05-06 2025-05-06/amc
Earnings (Next)08-04 2025-08-04/amc
Inst Owners63.63%
Inst Owner Change4.37%
Ins Owners12.38%
Ins Owner Change9.95%
Market Cap4.41B
Analysts73
Price Target69.44 (49.88%)
Short Float %28.15%
Short Ratio3.55
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)368.47%
Min EPS beat(2)69.47%
Max EPS beat(2)667.46%
EPS beat(4)4
Avg EPS beat(4)213.57%
Min EPS beat(4)57.52%
Max EPS beat(4)667.46%
EPS beat(8)7
Avg EPS beat(8)110.58%
EPS beat(12)9
Avg EPS beat(12)58.33%
EPS beat(16)13
Avg EPS beat(16)63.28%
Revenue beat(2)2
Avg Revenue beat(2)6.08%
Min Revenue beat(2)4.86%
Max Revenue beat(2)7.29%
Revenue beat(4)4
Avg Revenue beat(4)5.5%
Min Revenue beat(4)0.47%
Max Revenue beat(4)9.37%
Revenue beat(8)6
Avg Revenue beat(8)3.23%
Revenue beat(12)7
Avg Revenue beat(12)0.82%
Revenue beat(16)11
Avg Revenue beat(16)3.1%
PT rev (1m)-7.74%
PT rev (3m)-7.11%
EPS NQ rev (1m)4.18%
EPS NQ rev (3m)47.31%
EPS NY rev (1m)5.02%
EPS NY rev (3m)5.11%
Revenue NQ rev (1m)0.89%
Revenue NQ rev (3m)3.4%
Revenue NY rev (1m)0.98%
Revenue NY rev (3m)4.04%
Valuation
Industry RankSector Rank
PE 140.39
Fwd PE 20.75
P/S 6.1
P/FCF 38.63
P/OCF 34.3
P/B 6.51
P/tB 7.34
EV/EBITDA N/A
EPS(TTM)0.33
EY0.71%
EPS(NY)2.23
Fwd EY4.82%
FCF(TTM)1.2
FCFY2.59%
OCF(TTM)1.35
OCFY2.92%
SpS7.59
BVpS7.11
TBVpS6.31
PEG (NY)0.22
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -2.89%
ROE -9.82%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 77.97%
FCFM 15.8%
ROA(3y)-7.65%
ROA(5y)-2.85%
ROE(3y)-24.75%
ROE(5y)-11.1%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.44%
GM growth 5Y-2.38%
F-Score7
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity 1.97
Debt/FCF 11.7
Debt/EBITDA N/A
Cap/Depr 67.55%
Cap/Sales 1.99%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.38
Quick Ratio 2.38
Altman-Z 1.76
F-Score7
WACC7.85%
ROIC/WACCN/A
Cap/Depr(3y)88.9%
Cap/Depr(5y)142.64%
Cap/Sales(3y)2.21%
Cap/Sales(5y)2.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)180.49%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%196.77%
EPS Next Y631.61%
EPS Next 2Y215.85%
EPS Next 3Y135.07%
EPS Next 5Y86.05%
Revenue 1Y (TTM)34.11%
Revenue growth 3Y-9.14%
Revenue growth 5Y31.13%
Sales Q2Q%66.96%
Revenue Next Year68.71%
Revenue Next 2Y43.99%
Revenue Next 3Y33.93%
Revenue Next 5Y30.79%
EBIT growth 1Y42.82%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year201.71%
EBIT Next 3Y58.46%
EBIT Next 5Y39.67%
FCF growth 1Y123.29%
FCF growth 3Y4.79%
FCF growth 5Y46.31%
OCF growth 1Y127.53%
OCF growth 3Y3.44%
OCF growth 5Y42.62%