Upstart Holdings (UPST) Net Margin (2020 - 2026)
Upstart Holdings (UPST) reported Net Margin of 4.53% for Q2 2026, up 2.36 percentage points from 2.18% a year earlier and up 6.69 percentage points from the prior quarter.
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Analysis
Upstart Holdings (UPST) Net Margin (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Upstart Holdings' Net Margin came in at 4.84%, up 5.60 percentage points year-over-year; for FY2025, it came in at 5.13%, up 25.34 percentage points from FY2024.
- Net Margin has a five-year change of +2.57 percentage points (FY2020 to FY2025).
- By year, Net Margin came in at -20.20% in FY2024 (+22.65 pp), -42.85% in FY2023 (-30.87 pp), -11.98% in FY2022 (-27.94 pp) and 15.96% in FY2021 (+13.40 pp).
- Five-year quarterly Net Margin spans a low of -110.34% in Q1 2023 and a high of 19.34% in Q4 2021.
- Year over year, Net Margin gained in seven of the last eight quarters, with an average year-over-year change of +20.48 percentage points.
- The high point for year-over-year Net Margin in five years was Q1 2024 (a gain of 63.55 percentage points); the low point was Q1 2023 (a drop of 120.75 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -2.16% (Q1 2026), 6.29% (Q4 2025) and 11.48% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | PayPal Holdings | 49.04 Bn | 7.27 Bn | - | 12.72% |
| 2 | Coinbase Global | 47.52 Bn | 4.33 Bn | - | -29.46% |
| 3 | Block | 45.61 Bn | 16.91 Bn | 3.17 Bn | 1.34% |
| 4 | Corpay | 26.34 Bn | 16.23 Bn | - | 18.55% |
| 5 | Fiserv | 24.61 Bn | 21.29 Bn | 2.90 Bn | 11.85% |
| 6 | Global Payments | 22.07 Bn | -135.34 Mn | 2.03 Bn | 0.39% |
| 7 | Guidewire Software | 13.93 Bn | 10.49 Bn | 269.68 Mn | 7.64% |
| 8 | Bitmine Immersion Technologies | 13.17 Bn | 10.55 Bn | 40.81 Mn | -179.60% |
| 9 | Chime Financial | 11.48 Bn | 7.27 Bn | 594.87 Mn | 4.16% |
| 10 | Upstart Holdings | 2.26 Bn | 188.28 Mn | 303.39 Mn | 4.53% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.53% |
| Mar 31, 2026 | -2.16% |
| Dec 31, 2025 | 6.29% |
| Sep 30, 2025 | 11.48% |
| Jun 30, 2025 | 2.18% |
| Mar 31, 2025 | -1.15% |
| Dec 31, 2024 | -1.38% |
| Sep 30, 2024 | -4.03% |
| Jun 30, 2024 | -41.73% |
| Mar 31, 2024 | -46.79% |
| Dec 31, 2023 | -27.74% |
| Sep 30, 2023 | -27.47% |
| Jun 30, 2023 | -19.60% |
| Mar 31, 2023 | -110.34% |
| Dec 31, 2022 | -35.52% |
| Sep 30, 2022 | -31.35% |
| Jun 30, 2022 | -11.56% |
| Mar 31, 2022 | 10.41% |
| Dec 31, 2021 | 19.34% |
| Sep 30, 2021 | 12.74% |
API Access
Upstart Holdings Net Margin 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=net-margin&ticker=UPST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=UPST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();