Upstart Holdings (UPST) Price to Book (2020 - 2026)
Upstart Holdings' (UPST) quarterly Price to Book came in at 4.32 in Q2 2026, down 49.78% year-over-year from 8.61 in Q2 2025, and up 29.11% quarter-over-quarter from 3.35 in Q1 2026.
Analysis
Upstart Holdings (UPST) Price to Book (2020 - 2026) Analysis & Trends
Upstart Holdings (UPST) has reported Price to Book for 7 consecutive years, with 4.32 the latest figure, recorded in Q2 2026.
- On a quarterly basis, Price to Book fell 49.78% year-over-year to 4.32 in Q2 2026; TTM through Jun 2026 was 4.32, a 49.78% decrease from a year earlier, with the FY2025 full-year figure at 5.37, down 40.95% from the prior year.
- Price to Book was 4.32 for Q2 2026 at Upstart Holdings, up from 3.35 in the prior quarter.
- Over five years, Price to Book peaked at 10.54 in Q1 2022 and troughed at 1.6 in Q4 2022.
- A 5-year average of 5.08 and a median of 4.51 in 2023 frame the typical range for Price to Book.
- Across the five-year window, Price to Book tumbled 93.4% in 2022 and jumped 247.55% in 2023, its largest moves.
- Over 5 years, Price to Book stood at 1.6 in 2022, then jumped by 247.55% to 5.55 in 2023, then jumped by 63.68% to 9.09 in 2024, then plunged by 40.95% to 5.37 in 2025, then dropped by 19.45% to 4.32 in 2026.
- The last three Price to Book figures came in at 4.32 (Q2 2026), 3.35 (Q1 2026), and 5.37 (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
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.32 |
| Mar 31, 2026 | 3.35 |
| Dec 31, 2025 | 5.37 |
| Sep 30, 2025 | 6.64 |
| Jun 30, 2025 | 8.61 |
| Mar 31, 2025 | 6.47 |
| Dec 31, 2024 | 9.09 |
| Sep 30, 2024 | 6.11 |
| Jun 30, 2024 | 3.53 |
| Mar 31, 2024 | 3.85 |
| Dec 31, 2023 | 5.55 |
| Sep 30, 2023 | 3.79 |
| Jun 30, 2023 | 4.70 |
| Mar 31, 2023 | 2.09 |
| Dec 31, 2022 | 1.60 |
| Sep 30, 2022 | 2.37 |
| Jun 30, 2022 | 3.43 |
| Mar 31, 2022 | 10.54 |
| Dec 31, 2021 | 15.68 |
| Sep 30, 2021 | 35.88 |