Upstart Holdings UPST
NASDAQ UPST
$28.05 -0.47 (-1.65%)
At close: Sep 4, 2026 · 4:00 PM EDT

Upstart Holdings (UPST) EV to FCF (2020 - 2026)

Upstart Holdings' (UPST) quarterly EV to FCF came in at 21.32 in Q2 2026, up 54.51% year-over-year from 13.8 in Q2 2025, and down 47.68% quarter-over-quarter from 14.43 in Q1 2026.

Analysis

Upstart Holdings (UPST) EV to FCF (2020 - 2026) Analysis & Trends

Upstart Holdings (UPST) has reported EV to FCF for 7 consecutive years, with 21.32 the latest figure, recorded in Q2 2026.

  • On a quarterly basis, EV to FCF rose 54.51% year-over-year to 21.32 in Q2 2026; TTM through Jun 2026 was 10.0, a 86.03% increase from a year earlier, with the FY2025 full-year figure at 21.95, down 178.16% from the prior year.
  • EV to FCF was 21.32 for Q2 2026 at Upstart Holdings, down from 14.43 in the prior quarter.
  • Over five years, EV to FCF peaked at 54.76 in Q1 2024 and troughed at 192.44 in Q1 2025.
  • A 5-year average of 20.03 and a median of 18.85 in 2026 frame the typical range for EV to FCF.
  • Across the five-year window, EV to FCF soared 434.08% in 2024 and plunged 451.42% in 2025, its largest moves.
  • Over 5 years, EV to FCF stood at 4.49 in 2022, then tumbled by 379.28% to 21.52 in 2023, then tumbled by 102.29% to 43.52 in 2024, then jumped by 179.8% to 34.73 in 2025, then slumped by 161.37% to 21.32 in 2026.
  • The last three EV to FCF figures came in at 21.32 (Q2 2026), 14.43 (Q1 2026), and 34.73 (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

Historic Data

Download Data
DateValue
Jun 30, 2026 -21.32
Mar 31, 2026 -14.43
Dec 31, 2025 34.73
Sep 30, 2025 -35.29
Jun 30, 2025 -46.86
Mar 31, 2025 -192.44
Dec 31, 2024 -43.52
Sep 30, 2024 20.65
Jun 30, 2024 29.64
Mar 31, 2024 54.76
Dec 31, 2023 -21.52
Sep 30, 2023 -21.96
Jun 30, 2023 13.94
Mar 31, 2023 -16.39
Dec 31, 2022 -4.49
Sep 30, 2022 -16.14
Jun 30, 2022 -45.74
Mar 31, 2022 -34.16
Dec 31, 2021 -866.08
Sep 30, 2021 632.52