Upstart Holdings (UPST) Invested Capital (2020 - 2026)
Upstart Holdings' Invested Capital was $942.7 million in Q2 2026, up 15.9% from $813.68 million a year earlier and up 9.8% from the prior quarter.
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Analysis
Upstart Holdings (UPST) Invested Capital (2020 - 2026) Analysis & Trends
For FY2025, Invested Capital at Upstart Holdings came in at $906.47 million, up 30.7% from FY2024.
- Invested Capital shows a five-year compound annual growth rate of 21.3% (FY2020 to FY2025).
- In earlier years, Invested Capital was $693.39 million in FY2024 (+0.7%), $688.89 million in FY2023 (-9.7%), $763.21 million in FY2022 (-16.6%) and $914.68 million in FY2021 (+164.5%).
- The Q2 2026 figure marks the highest quarterly Invested Capital since Q1 2022.
- Compared with a year earlier, Invested Capital has increased for seven straight quarters, with growth averaging 14.9% over the last eight quarters.
- The best year-over-year quarter for Invested Capital over five years was Q1 2022 (growth of 169.5%); the worst was Q1 2023 (a decline of 34.2%).
- Per Business Quant data, UPST's Invested Capital in the three quarters before Q2 2026 was $858.69 million (Q1 2026), $906.47 million (Q4 2025) and $837.12 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Block | 52.85 Bn | 24.62 Bn | 3.24 Bn | 30.17 Bn |
| 2 | PayPal Holdings | 51.15 Bn | 9.85 Bn | - | 32.96 Bn |
| 3 | Coinbase Global | 39.96 Bn | 318.30 Mn | - | 20.64 Bn |
| 4 | Fiserv | 33.26 Bn | 29.94 Bn | 2.90 Bn | 54.81 Bn |
| 5 | Corpay | 27.49 Bn | 17.37 Bn | - | 14.21 Bn |
| 6 | Global Payments | 25.96 Bn | 3.75 Bn | 2.03 Bn | 47.31 Bn |
| 7 | Guidewire Software | 14.40 Bn | 10.97 Bn | 269.68 Mn | 1.87 Bn |
| 8 | Jack Henry & Associates | 12.86 Bn | 12.76 Bn | 273.85 Mn | 2.09 Bn |
| 9 | Bitmine Immersion Technologies | 11.92 Bn | 9.30 Bn | 40.81 Mn | - |
| 10 | Upstart Holdings | 2.26 Bn | 185.27 Mn | 303.39 Mn | 2.80 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.80 Bn |
| Mar 31, 2026 | 2.65 Bn |
| Dec 31, 2025 | 2.63 Bn |
| Sep 30, 2025 | 2.60 Bn |
| Jun 30, 2025 | 2.15 Bn |
| Mar 31, 2025 | 2.01 Bn |
| Dec 31, 2024 | 2.04 Bn |
| Sep 30, 2024 | 1.48 Bn |
| Jun 30, 2024 | 1.51 Bn |
| Mar 31, 2024 | 1.62 Bn |
| Dec 31, 2023 | 1.68 Bn |
| Sep 30, 2023 | 1.64 Bn |
| Jun 30, 2023 | 1.57 Bn |
| Mar 31, 2023 | 1.63 Bn |
| Dec 31, 2022 | 1.66 Bn |
| Sep 30, 2022 | 1.64 Bn |
| Jun 30, 2022 | 1.61 Bn |
| Mar 31, 2022 | 1.65 Bn |
| Dec 31, 2021 | 1.50 Bn |
| Sep 30, 2021 | 1.37 Bn |
API Access
Upstart Holdings Invested Capital API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=invested-capital&ticker=UPST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "ticker": "UPST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=invested-capital&ticker=UPST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();