Upstart Holdings (UPST) Invested Capital (2020 - 2026)
Upstart Holdings' (UPST) quarterly Invested Capital came in at $942.7 million in Q2 2026, up 15.86% year-over-year from $813.7 million in Q2 2025, and up 9.78% quarter-over-quarter from $858.7 million in Q1 2026.
Analysis
Upstart Holdings (UPST) Invested Capital (2020 - 2026) Analysis & Trends
Upstart Holdings (UPST) has reported Invested Capital for 7 consecutive years, with $942.7 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Invested Capital rose 15.86% year-over-year to $942.7 million in Q2 2026; TTM through Jun 2026 was $942.7 million, a 15.86% increase from a year earlier, with the FY2025 full-year figure at $906.5 million, up 30.73% from the prior year.
- Invested Capital was $942.7 million for Q2 2026 at Upstart Holdings, up from $858.7 million in the prior quarter.
- Over five years, Invested Capital peaked at $1.0 billion in Q1 2022 and troughed at $656.3 million in Q3 2024.
- A 5-year average of $777.0 million and a median of $761.5 million in 2022 frame the typical range for Invested Capital.
- Across the five-year window, Invested Capital surged 169.52% in 2022 and plunged 34.25% in 2023, its largest moves.
- Over 5 years, Invested Capital stood at $763.2 million in 2022, then fell by 9.74% to $688.9 million in 2023, then advanced by 0.65% to $693.4 million in 2024, then jumped by 30.73% to $906.5 million in 2025, then climbed by 4.0% to $942.7 million in 2026.
- The last three Invested Capital figures came in at $942.7 million (Q2 2026), $858.7 million (Q1 2026), and $906.5 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.43 Bn | 1.99 Bn | 303.39 Mn | 942.70 Mn |
| 2 | Pagaya Technologies | 1.70 Bn | 1.51 Bn | 168.33 Mn | 1.12 Bn |
| 3 | Qfin Holdings | 986.27 Mn | -9.51 Mn | - | 3.96 Bn |
| 4 | FinVolution | 836.54 Mn | -90.46 Mn | - | 2.65 Bn |
| 5 | X Financial | 386.17 Mn | -182.14 Mn | 84.09 Mn | 1.20 Bn |
| 6 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | 158.26 Mn |
| 7 | Blend Labs | 279.09 Mn | 234.22 Mn | 24.89 Mn | - |
| 8 | LexinFintech Holdings | 251.25 Mn | 251.25 Mn | 73.06 Mn | 1.98 Bn |
| 9 | Jiayin | 76.25 Mn | 2.23 Mn | - | 710.47 Mn |
| 10 | Antalpha Platform Holding | 76.02 Mn | -813.69 Mn | 11.94 Mn | 451.81 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 942.70 Mn |
| Mar 31, 2026 | 858.69 Mn |
| Dec 31, 2025 | 906.47 Mn |
| Sep 30, 2025 | 837.12 Mn |
| Jun 30, 2025 | 813.68 Mn |
| Mar 31, 2025 | 759.76 Mn |
| Dec 31, 2024 | 693.39 Mn |
| Sep 30, 2024 | 656.31 Mn |
| Jun 30, 2024 | 660.21 Mn |
| Mar 31, 2024 | 671.88 Mn |
| Dec 31, 2023 | 688.89 Mn |
| Sep 30, 2023 | 692.37 Mn |
| Jun 30, 2023 | 682.19 Mn |
| Mar 31, 2023 | 668.26 Mn |
| Dec 31, 2022 | 763.21 Mn |
| Sep 30, 2022 | 812.41 Mn |
| Jun 30, 2022 | 862.78 Mn |
| Mar 31, 2022 | 1.02 Bn |
| Dec 31, 2021 | 914.68 Mn |
| Sep 30, 2021 | 803.40 Mn |