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Asset Utilization RatioAssets AverageEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Upstart Holdings (UPST) Operating Margin (2020 - 2026)

Upstart Holdings has reported Operating Margin over the past 6 years, most recently at 6.39% for Q4 2025.

  • Quarterly Operating Margin rose 876.0% to 6.39% in Q4 2025 from the year-ago period, while the trailing twelve-month figure was 4.27% through Dec 2025, up 3212.0% year-over-year, with the annual reading at 4.08% for FY2025, 3124.0% up from the prior year.
  • Operating Margin was 6.39% for Q4 2025 at Upstart Holdings, down from 9.15% in the prior quarter.
  • Over five years, Operating Margin peaked at 19.82% in Q4 2021 and troughed at 112.54% in Q1 2023.
  • The 5-year median for Operating Margin is 7.43% (2022), against an average of 15.69%.
  • Year-over-year, Operating Margin soared 8500bps in 2021 and then plummeted -12364bps in 2023.
  • A 5-year view of Operating Margin shows it stood at 19.82% in 2021, then crashed by -290bps to 37.6% in 2022, then rose by 17bps to 31.08% in 2023, then surged by 92bps to 2.37% in 2024, then surged by 369bps to 6.39% in 2025.
  • Per Business Quant, the three most recent readings for UPST's Operating Margin are 6.39% (Q4 2025), 9.15% (Q3 2025), and 1.77% (Q2 2025).