Upstart Holdings (UPST) Return on Invested Capital [ROIC] (2021 - 2026)
Upstart Holdings' Return on Invested Capital [ROIC] was 2.11% in Q3 2026, up 1.32 percentage points from 0.79% a year earlier and up 0.33 percentage points from the prior quarter.
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Analysis
Upstart Holdings (UPST) Return on Invested Capital [ROIC] (2021 - 2026) Analysis & Trends
For FY2025, Return on Invested Capital [ROIC] at Upstart Holdings came in at 1.80%, up 11.12 percentage points from FY2024.
- Return on Invested Capital [ROIC] shows a four-year change of -13.30 percentage points (FY2021 to FY2025).
- In earlier years, Return on Invested Capital [ROIC] was -9.32% in FY2024 (+6.07 pp), -15.39% in FY2023 (-8.21 pp), -7.18% in FY2022 (-22.28 pp) and 15.10% in FY2021.
- The Q3 2026 figure marks the highest quarterly Return on Invested Capital [ROIC] since Q2 2022.
- Compared with a year earlier, Return on Invested Capital [ROIC] has increased for 11 straight quarters, with an average year-over-year change of +7.78 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q3 2025 (a gain of 15.21 percentage points); the worst was Q1 2023 (a drop of 27.22 percentage points).
- Per Business Quant data, UPST's Return on Invested Capital [ROIC] in the three quarters before Q3 2026 was 1.78% (Q2 2026), 1.48% (Q1 2026) and 1.61% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Block | 51.56 Bn | 23.34 Bn | 3.24 Bn | 2.52% |
| 2 | PayPal Holdings | 50.29 Bn | 8.99 Bn | - | 14.60% |
| 3 | Coinbase Global | 35.53 Bn | -4.11 Bn | - | 0.76% |
| 4 | Fiserv | 33.43 Bn | 30.64 Bn | 2.76 Bn | -4.41% |
| 5 | Corpay | 29.86 Bn | 18.68 Bn | - | 11.41% |
| 6 | Global Payments | 25.78 Bn | 604.58 Mn | 2.01 Bn | 0.00% |
| 7 | Guidewire Software | 13.57 Bn | 10.14 Bn | 269.68 Mn | 6.58% |
| 8 | Jack Henry & Associates | 12.44 Bn | 12.35 Bn | 273.85 Mn | 22.66% |
| 9 | Chime Financial | 11.95 Bn | 7.64 Bn | 646.07 Mn | 3.07% |
| 10 | Upstart Holdings | 2.14 Bn | 101.94 Mn | 307.18 Mn | 2.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 2.11% |
| Jun 30, 2026 | 1.78% |
| Mar 31, 2026 | 1.48% |
| Dec 31, 2025 | 1.61% |
| Sep 30, 2025 | 0.79% |
| Jun 30, 2025 | -2.40% |
| Mar 31, 2025 | -5.43% |
| Dec 31, 2024 | -9.83% |
| Sep 30, 2024 | -14.42% |
| Jun 30, 2024 | -13.71% |
| Mar 31, 2024 | -11.67% |
| Dec 31, 2023 | -15.45% |
| Sep 30, 2023 | -16.63% |
| Jun 30, 2023 | -17.60% |
| Mar 31, 2023 | -17.04% |
| Dec 31, 2022 | -6.88% |
| Sep 30, 2022 | 0.29% |
| Jun 30, 2022 | 5.63% |
| Mar 31, 2022 | 10.17% |
| Dec 31, 2021 | 9.81% |
API Access
Upstart Holdings Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=UPST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=UPST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();