Fundamental analysis · SEC EDGAR · TTM through 30/06/2026
UPST · Nasdaq · Financial
Fundamental quality
55
out of 100
Upstart Holdings, Inc.'s profile is defined by leverage: it carries high debt (20.55× EBITDA) on thin margins (4.8%), which makes it more sensitive to rates and the cycle. On fundamental quality it scores 55 out of 100, profiling it as a company of reasonable quality. Its weakest area is its financial strength (net debt 20.55× EBITDA). 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: 52.3% · Revenue growth: 35.6%
Net margin: 4.8% · ROE: 7.6%
Net debt/EBITDA: 20.55x · FCF: -23.2%
Source: SEC EDGAR · TTM through 30/06/2026
The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its financial strength drags it down the most.
Percentile against the other 71 Financial companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
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 | -249 |
| 2021 | 849 | 135 | 160 | -496 |
| 2022 | 842 | -109 | -667 | 454 |
| 2023 | 514 | -240 | -113 | 672 |
| 2024 | 637 | -129 | 185 | 614 |
| 2025 | 1,044 | 54 | -148 | 1,177 |
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.
Latest results
Figures for the half-year ended June 30, 2026, versus the half-year ended June 30, 2025 (SEC filings):
Compared with the previous close (March 31, 2026), this is what moved in its accounts:
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
This company doesn't pay a dividend: it reinvests all its earnings back into the business.
Open your account in minutes with regulated brokers and buy U.S. and European stocks from small amounts. No paperwork.
The serious investor's standard
Open free account →Anyone who wants low commissions and access to almost any market in the world.
Popular in the U.S.
Open free account →Anyone investing in the U.S. who wants a powerful, commission-free stock app.
Investing carries risk of loss.
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 55 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 4.8%, though a thin one.
Does Upstart Holdings, Inc. have a lot of debt?
Yes, its leverage is high: net debt is 20.55 times its EBITDA, and it has been rising.
Is Upstart Holdings, Inc. growing?
Its revenue has grown 35.6% annualized in recent years and its earnings per share 52.3%.
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.
More Financial companies
Mastercard (MA) · Bank of America (BAC) · Wells Fargo (WFC) · American Express (AXP) · Goldman Sachs (GS) · Morgan Stanley (MS) · see more →
The best Financial stocks by our model →
Compare Upstart Holdings, Inc. with 500+ companies in the screener →
Who's behind the methodology and model · how the score is computed
Data: see Upstart Holdings, Inc.'s filings on EDGAR
Spotted a figure that looks wrong? Report it and we'll review it.