UPSTART HOLDINGS INC (UPST) Fundamental Analysis & Valuation

NASDAQ:UPST • US91680M1071

27.575 USD
-1.04 (-3.62%)
Last: Mar 6, 2026, 09:33 AM
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This UPST fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to UPST. UPST was compared to 54 industry peers in the Consumer Finance industry. UPST has a bad profitability rating. Also its financial health evaluation is rather negative. UPST is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

3

1. UPST Profitability Analysis

1.1 Basic Checks

  • In the past year UPST was profitable.
  • In the past year UPST has reported a negative cash flow from operations.
  • 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 2025 0 -200M -400M -600M

1.2 Ratios

  • The Return On Assets of UPST (1.80%) is comparable to the rest of the industry.
  • The Return On Equity of UPST (6.71%) is worse than 74.07% of its industry peers.
  • The Return On Invested Capital of UPST (1.27%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA 1.8%
ROE 6.71%
ROIC 1.27%
ROA(3y)-5.18%
ROA(5y)-2.74%
ROE(3y)-17.13%
ROE(5y)-10.15%
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 2025 0 10 -10 -20 -30

1.3 Margins

  • UPST has a worse Profit Margin (5.13%) than 75.93% of its industry peers.
  • In the last couple of years the Profit Margin of UPST has grown nicely.
  • UPST has a Operating Margin of 4.08%. This is in the lower half of the industry: UPST underperforms 62.96% of its industry peers.
  • UPST's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 81.95%, UPST is in the better half of the industry, outperforming 77.78% of the companies in the same industry.
  • In the last couple of years the Gross Margin of UPST has remained more or less at the same level.
Industry RankSector Rank
OM 4.08%
PM (TTM) 5.13%
GM 81.95%
OM growth 3YN/A
OM growth 5Y-4.12%
PM growth 3YN/A
PM growth 5Y14.91%
GM growth 3Y1.8%
GM growth 5Y-0.47%
UPST Yearly Profit, Operating, Gross MarginsUPST Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40 -40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. UPST Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so UPST is destroying value.
  • UPST has more shares outstanding than it did 1 year ago.
  • UPST has more shares outstanding than it did 5 years ago.
  • UPST has a worse debt/assets ratio than last year.
UPST Yearly Shares OutstandingUPST Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 500M 1B 1.5B 2B 2.5B

2.2 Solvency

  • Based on the Altman-Z score of 1.15, we must say that UPST is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of UPST (1.15) is better than 64.81% of its industry peers.
  • UPST has a Debt/Equity ratio of 2.29. This is a high value indicating a heavy dependency on external financing.
  • UPST has a Debt to Equity ratio (2.29) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 2.29
Debt/FCF N/A
Altman-Z 1.15
ROIC/WACC0.2
WACC6.37%
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 2025 0 500M -500M 1B 1.5B

2.3 Liquidity

  • A Current Ratio of 2.15 indicates that UPST has no problem at all paying its short term obligations.
  • UPST has a Current ratio of 2.15. This is in the better half of the industry: UPST outperforms 74.07% of its industry peers.
  • UPST has a Quick Ratio of 2.15. This indicates that UPST is financially healthy and has no problem in meeting its short term obligations.
  • UPST has a Quick ratio of 2.15. This is in the better half of the industry: UPST outperforms 74.07% of its industry peers.
Industry RankSector Rank
Current Ratio 2.15
Quick Ratio 2.15
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 2025 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

9

3. UPST Growth Analysis

3.1 Past

  • UPST shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 685.71%, which is quite impressive.
  • The Earnings Per Share has been growing by 44.19% on average over the past years. This is a very strong growth
  • UPST shows a strong growth in Revenue. In the last year, the Revenue has grown by 63.99%.
  • Measured over the past years, UPST shows a very strong growth in Revenue. The Revenue has been growing by 34.93% on average per year.
EPS 1Y (TTM)685.71%
EPS 3Y132.79%
EPS 5Y44.19%
EPS Q2Q%76.92%
Revenue 1Y (TTM)63.99%
Revenue growth 3Y7.41%
Revenue growth 5Y34.93%
Sales Q2Q%48.54%

3.2 Future

  • Based on estimates for the next years, UPST will show a very strong growth in Earnings Per Share. The EPS will grow by 30.55% on average per year.
  • Based on estimates for the next years, UPST will show a very strong growth in Revenue. The Revenue will grow by 21.38% on average per year.
EPS Next Y48.89%
EPS Next 2Y36.68%
EPS Next 3Y33.09%
EPS Next 5Y30.55%
Revenue Next Year36.42%
Revenue Next 2Y34.18%
Revenue Next 3Y29.47%
Revenue Next 5Y21.38%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past 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 2029 500M 1B 1.5B 2B
UPST Yearly EPS VS EstimatesUPST Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 1 2 3 4

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Find the best growth stocksShow best growing peers

4

4. UPST Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 16.81, the valuation of UPST can be described as correct.
  • Based on the Price/Earnings ratio, UPST is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
  • Compared to an average S&P500 Price/Earnings ratio of 26.69, UPST is valued a bit cheaper.
  • UPST is valuated reasonably with a Price/Forward Earnings ratio of 11.29.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of UPST is on the same level as its industry peers.
  • The average S&P500 Price/Forward Earnings ratio is at 24.79. UPST is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 16.81
Fwd PE 11.29
UPST Price Earnings VS Forward Price EarningsUPST Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, UPST is valued a bit more expensive than the industry average as 64.81% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 58.7
UPST Per share dataUPST EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8 10

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.
  • UPST's earnings are expected to grow with 33.09% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.34
PEG (5Y)0.38
EPS Next 2Y36.68%
EPS Next 3Y33.09%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. UPST Dividend Analysis

5.1 Amount

  • No dividends for UPST!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

UPST Fundamentals: All Metrics, Ratios and Statistics

UPSTART HOLDINGS INC

NASDAQ:UPST (3/6/2026, 9:33:08 AM)

27.575

-1.04 (-3.62%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryConsumer Finance
Earnings (Last)02-10
Earnings (Next)05-04
Inst Owners72.65%
Inst Owner Change-4.24%
Ins Owners12.27%
Ins Owner Change-2.16%
Market Cap2.68B
Revenue(TTM)1.04B
Net Income(TTM)53.60M
Analysts74.29
Price Target55.73 (102.1%)
Short Float %27.59%
Short Ratio4.56
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)1
Avg EPS beat(2)9.4%
Min EPS beat(2)-2.1%
Max EPS beat(2)20.91%
EPS beat(4)3
Avg EPS beat(4)31.54%
Min EPS beat(4)-2.1%
Max EPS beat(4)69.47%
EPS beat(8)7
Avg EPS beat(8)116.52%
EPS beat(12)10
Avg EPS beat(12)82.03%
EPS beat(16)12
Avg EPS beat(16)48.36%
Revenue beat(2)1
Avg Revenue beat(2)-1.16%
Min Revenue beat(2)-2.85%
Max Revenue beat(2)0.53%
Revenue beat(4)3
Avg Revenue beat(4)3.62%
Min Revenue beat(4)-2.85%
Max Revenue beat(4)11.92%
Revenue beat(8)7
Avg Revenue beat(8)3.99%
Revenue beat(12)8
Avg Revenue beat(12)2.34%
Revenue beat(16)10
Avg Revenue beat(16)1.3%
PT rev (1m)-9.28%
PT rev (3m)-8.93%
EPS NQ rev (1m)-22.72%
EPS NQ rev (3m)-19.81%
EPS NY rev (1m)-0.78%
EPS NY rev (3m)-4.73%
Revenue NQ rev (1m)7.28%
Revenue NQ rev (3m)8.69%
Revenue NY rev (1m)10.24%
Revenue NY rev (3m)5.26%
Valuation
Industry RankSector Rank
PE 16.81
Fwd PE 11.29
P/S 2.57
P/FCF N/A
P/OCF N/A
P/B 3.36
P/tB 3.71
EV/EBITDA 58.7
EPS(TTM)1.64
EY5.95%
EPS(NY)2.44
Fwd EY8.86%
FCF(TTM)-1.71
FCFYN/A
OCF(TTM)-1.52
OCFYN/A
SpS10.73
BVpS8.21
TBVpS7.44
PEG (NY)0.34
PEG (5Y)0.38
Graham Number17.41
Profitability
Industry RankSector Rank
ROA 1.8%
ROE 6.71%
ROCE 1.61%
ROIC 1.27%
ROICexc 1.69%
ROICexgc 2.24%
OM 4.08%
PM (TTM) 5.13%
GM 81.95%
FCFM N/A
ROA(3y)-5.18%
ROA(5y)-2.74%
ROE(3y)-17.13%
ROE(5y)-10.15%
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
ROICexgc growth 3YN/A
ROICexgc growth 5Y-23.69%
ROICexc growth 3YN/A
ROICexc growth 5Y-25.93%
OM growth 3YN/A
OM growth 5Y-4.12%
PM growth 3YN/A
PM growth 5Y14.91%
GM growth 3Y1.8%
GM growth 5Y-0.47%
F-Score5
Asset Turnover0.35
Health
Industry RankSector Rank
Debt/Equity 2.29
Debt/FCF N/A
Debt/EBITDA 27.11
Cap/Depr 74.12%
Cap/Sales 1.76%
Interest Coverage 0.98
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.15
Quick Ratio 2.15
Altman-Z 1.15
F-Score5
WACC6.37%
ROIC/WACC0.2
Cap/Depr(3y)57.09%
Cap/Depr(5y)108.25%
Cap/Sales(3y)1.9%
Cap/Sales(5y)2.04%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)685.71%
EPS 3Y132.79%
EPS 5Y44.19%
EPS Q2Q%76.92%
EPS Next Y48.89%
EPS Next 2Y36.68%
EPS Next 3Y33.09%
EPS Next 5Y30.55%
Revenue 1Y (TTM)63.99%
Revenue growth 3Y7.41%
Revenue growth 5Y34.93%
Sales Q2Q%48.54%
Revenue Next Year36.42%
Revenue Next 2Y34.18%
Revenue Next 3Y29.47%
Revenue Next 5Y21.38%
EBIT growth 1Y124.66%
EBIT growth 3YN/A
EBIT growth 5Y29.37%
EBIT Next Year625.29%
EBIT Next 3Y137.23%
EBIT Next 5Y94.41%
FCF growth 1Y-194.21%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-179.28%
OCF growth 3YN/A
OCF growth 5YN/A

UPSTART HOLDINGS INC / UPST FAQ

What is the fundamental rating for UPST stock?

ChartMill assigns a fundamental rating of 4 / 10 to UPST.


What is the valuation status of UPSTART HOLDINGS INC (UPST) stock?

ChartMill assigns a valuation rating of 4 / 10 to UPSTART HOLDINGS INC (UPST). This can be considered as Fairly Valued.


Can you provide the profitability details for UPSTART HOLDINGS INC?

UPSTART HOLDINGS INC (UPST) has a profitability rating of 3 / 10.


What are the PE and PB ratios of UPSTART HOLDINGS INC (UPST) stock?

The Price/Earnings (PE) ratio for UPSTART HOLDINGS INC (UPST) is 16.81 and the Price/Book (PB) ratio is 3.36.


How financially healthy is UPSTART HOLDINGS INC?

The financial health rating of UPSTART HOLDINGS INC (UPST) is 3 / 10.