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UPSTART HOLDINGS INC (UPST) Stock Fundamental Analysis

USA - NASDAQ:UPST - US91680M1071 - Common Stock

63.08 USD
+0.89 (+1.43%)
Last: 9/12/2025, 8:22:46 PM
63.38 USD
+0.3 (+0.48%)
After Hours: 9/12/2025, 8:22:46 PM
Fundamental Rating

3

UPST gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 54 industry peers in the Consumer Finance industry. Both the profitability and financial health of UPST have multiple concerns. UPST is valued quite expensive, but it does show an excellent growth.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year UPST was profitable.
UPST had a negative 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

UPST has a worse Return On Assets (-0.26%) than 79.63% of its industry peers.
Looking at the Return On Equity, with a value of -0.88%, UPST is doing worse than 77.78% of the companies in the same industry.
Industry RankSector Rank
ROA -0.26%
ROE -0.88%
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 (80.43%) than 74.07% of its industry peers.
In the last couple of years the Gross Margin of UPST has declined.
UPST does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 80.43%
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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3

2. Health

2.1 Basic Checks

UPST does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, UPST has more shares outstanding
UPST has more shares outstanding than it did 5 years ago.
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

An Altman-Z score of 2.19 indicates that UPST is not a great score, but indicates only limited risk for bankruptcy at the moment.
UPST has a better Altman-Z score (2.19) than 74.07% of its industry peers.
UPST has a Debt/Equity ratio of 1.98. This is a high value indicating a heavy dependency on external financing.
UPST's Debt to Equity ratio of 1.98 is in line compared to the rest of the industry. UPST outperforms 53.70% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.98
Debt/FCF N/A
Altman-Z 2.19
ROIC/WACCN/A
WACC10.27%
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

A Current Ratio of 1.48 indicates that UPST should not have too much problems paying its short term obligations.
UPST has a better Current ratio (1.48) than 66.67% of its industry peers.
A Quick Ratio of 1.48 indicates that UPST should not have too much problems paying its short term obligations.
UPST has a Quick ratio of 1.48. This is in the better half of the industry: UPST outperforms 66.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.48
Quick Ratio 1.48
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 234.38% over the past year.
UPST shows a strong growth in Revenue. In the last year, the Revenue has grown by 60.62%.
UPST shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 31.13% yearly.
EPS 1Y (TTM)234.38%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%311.76%
Revenue 1Y (TTM)60.62%
Revenue growth 3Y-9.14%
Revenue growth 5Y31.13%
Sales Q2Q%101.59%

3.2 Future

The Earnings Per Share is expected to grow by 80.22% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 30.29% on average over the next years. This is a very strong growth
EPS Next Y703.99%
EPS Next 2Y233.98%
EPS Next 3Y142.27%
EPS Next 5Y80.22%
Revenue Next Year76.57%
Revenue Next 2Y49.95%
Revenue Next 3Y38.97%
Revenue Next 5Y30.29%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 73.35, which means the current valuation is very expensive for UPST.
Compared to the rest of the industry, the Price/Earnings ratio of UPST indicates a rather expensive valuation: UPST more expensive than 83.33% 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 27.30.
The Price/Forward Earnings ratio is 24.61, which indicates a rather expensive current valuation of UPST.
UPST's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. UPST is more expensive than 74.07% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.73. UPST is around the same levels.
Industry RankSector Rank
PE 73.35
Fwd PE 24.61
UPST Price Earnings VS Forward Price EarningsUPST Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
UPST Per share dataUPST EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

UPST's 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 142.27% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y233.98%
EPS Next 3Y142.27%

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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 (9/12/2025, 8:22:46 PM)

After market: 63.38 +0.3 (+0.48%)

63.08

+0.89 (+1.43%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryConsumer Finance
Earnings (Last)08-05 2025-08-05/amc
Earnings (Next)11-05 2025-11-05/amc
Inst Owners63.63%
Inst Owner Change3.34%
Ins Owners12.58%
Ins Owner Change2.06%
Market Cap6.07B
Analysts75
Price Target87.44 (38.62%)
Short Float %26.65%
Short Ratio3.35
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)53.67%
Min EPS beat(2)37.87%
Max EPS beat(2)69.47%
EPS beat(4)4
Avg EPS beat(4)208.66%
Min EPS beat(4)37.87%
Max EPS beat(4)667.46%
EPS beat(8)7
Avg EPS beat(8)92.05%
EPS beat(12)10
Avg EPS beat(12)69%
EPS beat(16)13
Avg EPS beat(16)56.47%
Revenue beat(2)2
Avg Revenue beat(2)8.39%
Min Revenue beat(2)4.86%
Max Revenue beat(2)11.92%
Revenue beat(4)4
Avg Revenue beat(4)8.36%
Min Revenue beat(4)4.86%
Max Revenue beat(4)11.92%
Revenue beat(8)7
Avg Revenue beat(8)4.93%
Revenue beat(12)8
Avg Revenue beat(12)2.43%
Revenue beat(16)11
Avg Revenue beat(16)2.56%
PT rev (1m)24.24%
PT rev (3m)51.73%
EPS NQ rev (1m)-0.69%
EPS NQ rev (3m)3.9%
EPS NY rev (1m)12.24%
EPS NY rev (3m)13.61%
Revenue NQ rev (1m)0.61%
Revenue NQ rev (3m)4.94%
Revenue NY rev (1m)4.76%
Revenue NY rev (3m)4.86%
Valuation
Industry RankSector Rank
PE 73.35
Fwd PE 24.61
P/S 7.13
P/FCF N/A
P/OCF N/A
P/B 8.41
P/tB 9.39
EV/EBITDA N/A
EPS(TTM)0.86
EY1.36%
EPS(NY)2.56
Fwd EY4.06%
FCF(TTM)-0.85
FCFYN/A
OCF(TTM)-0.68
OCFYN/A
SpS8.85
BVpS7.5
TBVpS6.71
PEG (NY)0.1
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.26%
ROE -0.88%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 80.43%
FCFM 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
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-Score5
Asset Turnover0.34
Health
Industry RankSector Rank
Debt/Equity 1.98
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 73.61%
Cap/Sales 1.93%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.48
Quick Ratio 1.48
Altman-Z 2.19
F-Score5
WACC10.27%
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)234.38%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%311.76%
EPS Next Y703.99%
EPS Next 2Y233.98%
EPS Next 3Y142.27%
EPS Next 5Y80.22%
Revenue 1Y (TTM)60.62%
Revenue growth 3Y-9.14%
Revenue growth 5Y31.13%
Sales Q2Q%101.59%
Revenue Next Year76.57%
Revenue Next 2Y49.95%
Revenue Next 3Y38.97%
Revenue Next 5Y30.29%
EBIT growth 1Y76.74%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year203.24%
EBIT Next 3Y59.29%
EBIT Next 5Y39.09%
FCF growth 1Y69.61%
FCF growth 3Y4.79%
FCF growth 5Y46.31%
OCF growth 1Y73.99%
OCF growth 3Y3.44%
OCF growth 5Y42.62%