Fundamental analysis · SEC EDGAR · TTM through 31/03/2026
UPST · Nasdaq · Financial
Fundamental quality
68
out of 100
Upstart Holdings, Inc. earns a fundamental-quality score of 68 out of 100, profiling it as a company of reasonable quality. Its score rests mainly on its growth (revenue +35.3%/yr). Its weakest area is its profitability (net margin 4.3%). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
Upstart is a lending marketplace that uses AI to assess credit risk beyond the traditional FICO score. It doesn't want to hold the loans: it originates them for banks and investors and earns fees for it.
EPS growth: 49.5% · Revenue growth: 35.3%
Net margin: 4.3% · ROE: 6.7%
Net debt/EBITDA: -7.4x · FCF: -23.8%
Source: SEC EDGAR · TTM through 31/03/2026
The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its profitability drags it down the most.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2020 | 233 | 6 | 14 | — |
| 2021 | 849 | 135 | 160 | — |
| 2022 | 842 | -109 | -667 | — |
| 2023 | 514 | -240 | -113 | -368 |
| 2024 | 637 | -129 | 185 | -788 |
| 2025 | 1,044 | 54 | -148 | -652 |
Between 2020 and 2025, revenue went from $233M to $1,044M (+347%) and net income went from $6M to $54M (+796%). Meanwhile, its margins have widened (from 3% to 5%).
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
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Is Upstart Holdings, Inc. cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is Upstart Holdings, Inc. a good company to invest in?
In terms of business quality, Upstart Holdings, Inc. scores 68 out of 100 in our analysis, placing it as a company of reasonable quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is Upstart Holdings, Inc. a profitable company?
Upstart Holdings, Inc. is profitable, with a net margin of 4.3%, though a thin one.
Does Upstart Holdings, Inc. have a lot of debt?
No. Upstart Holdings, Inc. has a net cash position: more cash than debt.
Is Upstart Holdings, Inc. growing?
Its revenue has grown 35.3% annualized in recent years and its earnings per share 49.5%.
Does Upstart Holdings, Inc. generate cash?
Over the last twelve months its free cash flow was negative.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
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