Upstart Holdings (UPST) Price to Book (2020 - 2026)
Upstart Holdings' Price to Book came in at 2.56 for Q3 2026, down 61.4% from 6.64 a year earlier and down 40.7% from the prior quarter.
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Analysis
Upstart Holdings (UPST) Price to Book (2020 - 2026) Analysis & Trends
For FY2025, Upstart Holdings' Price to Book was 5.37, down 40.9% from FY2024.
- Going back by year, Price to Book was 9.09 in FY2024 (+63.7%), 5.55 in FY2023 (+247.6%), 1.60 in FY2022 (-89.8%) and 15.68 in FY2021 (+559.8%).
- The Q3 2026 figure represents the lowest quarterly Price to Book since Q1 2023.
- Year-over-year, Price to Book has declined for four consecutive quarters, with growth averaging 10.4% over the last eight quarters.
- The fastest year-over-year change in Price to Book over five years came in Q4 2021 (growth of 559.8%), and the weakest in Q3 2022 (a decline of 93.4%).
- Business Quant data shows UPST's Price to Book at 4.32 (Q2 2026), 3.35 (Q1 2026) and 5.37 (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Block | 50.82 Bn | 22.55 Bn | 3.24 Bn |
| 2 | PayPal Holdings | 49.35 Bn | 8.05 Bn | - |
| 3 | Coinbase Global | 36.22 Bn | -3.42 Bn | - |
| 4 | Fiserv | 33.38 Bn | 30.61 Bn | 2.76 Bn |
| 5 | Corpay | 28.73 Bn | 17.87 Bn | - |
| 6 | Global Payments | 25.23 Bn | 686.02 Mn | 2.01 Bn |
| 7 | Iren | 14.67 Bn | -219.13 Mn | 182.00 Mn |
| 8 | Guidewire Software | 13.72 Bn | 10.29 Bn | 269.68 Mn |
| 9 | Jack Henry & Associates | 12.63 Bn | 12.53 Bn | 273.85 Mn |
| 10 | Upstart Holdings | 2.19 Bn | 146.05 Mn | 307.18 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.56 |
| 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 |
API Access
Upstart Holdings Price to Book 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=price-to-book&ticker=UPST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=UPST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();