Upstart Holdings (UPST) EV to EBITDA (2020 - 2026)
Upstart Holdings' (UPST) quarterly EV to EBITDA came in at 205.05 in Q2 2026, down 84.02% year-over-year from 1283.53 in Q2 2025, and up 177.65% quarter-over-quarter from 264.06 in Q1 2026.
Analysis
Upstart Holdings (UPST) EV to EBITDA (2020 - 2026) Analysis & Trends
Upstart Holdings (UPST) has reported EV to EBITDA for 7 consecutive years, with 205.05 the latest figure, recorded in Q2 2026.
- On a quarterly basis, EV to EBITDA fell 84.02% year-over-year to 205.05 in Q2 2026; TTM through Jun 2026 was 60.39, a 151.65% increase from a year earlier, with the FY2025 full-year figure at 85.38, up 396.54% from the prior year.
- EV to EBITDA was 205.05 for Q2 2026 at Upstart Holdings, up from 264.06 in the prior quarter.
- Over five years, EV to EBITDA peaked at 1283.53 in Q2 2025 and troughed at 1047.7 in Q4 2024.
- A 5-year average of 29.02 and a median of 36.6 in 2024 frame the typical range for EV to EBITDA.
- The widest YoY moves for EV to EBITDA: up 3470.95% in 2025, down 2294.08% in 2025.
- Over 5 years, EV to EBITDA stood at 18.36 in 2022, then sank by 262.63% to 66.59 in 2023, then tumbled by 1473.28% to 1047.7 in 2024, then soared by 118.36% to 192.38 in 2025, then climbed by 6.59% to 205.05 in 2026.
- The last three EV to EBITDA figures came in at 205.05 (Q2 2026), 264.06 (Q1 2026), and 192.38 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Upstart Holdings | 2.73 Bn | 2.28 Bn | 303.39 Mn |
| 2 | Pagaya Technologies | 1.92 Bn | 1.72 Bn | 168.33 Mn |
| 3 | Qfin Holdings | 1.10 Bn | 108.74 Mn | - |
| 4 | FinVolution | 856.70 Mn | -70.30 Mn | - |
| 5 | X Financial | 432.29 Mn | -136.02 Mn | 84.09 Mn |
| 6 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn |
| 7 | Blend Labs | 361.86 Mn | 317.00 Mn | 24.89 Mn |
| 8 | LexinFintech Holdings | 294.80 Mn | 294.80 Mn | 73.06 Mn |
| 9 | Antalpha Platform Holding | 85.61 Mn | -804.10 Mn | 11.94 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 205.05 |
| Mar 31, 2026 | -264.06 |
| Dec 31, 2025 | 192.38 |
| Sep 30, 2025 | 188.67 |
| Jun 30, 2025 | 1,283.53 |
| Mar 31, 2025 | -840.84 |
| Dec 31, 2024 | -1,047.70 |
| Sep 30, 2024 | -80.93 |
| Jun 30, 2024 | -38.08 |
| Mar 31, 2024 | -35.12 |
| Dec 31, 2023 | -66.59 |
| Sep 30, 2023 | -55.35 |
| Jun 30, 2023 | -90.01 |
| Mar 31, 2023 | -9.96 |
| Dec 31, 2022 | -18.36 |
| Sep 30, 2022 | -29.29 |
| Jun 30, 2022 | -80.94 |
| Mar 31, 2022 | 265.19 |
| Dec 31, 2021 | 209.52 |
| Sep 30, 2021 | 902.21 |