Upstart Holdings reported a gross margin of 83.19% and a net margin of 4.53% for the quarter ended Jun 2026. These financial ratios cover 26 quarters of results from Mar 2020 through Jun 2026, standardized by Business Quant from the company’s SEC filings.
| Ratios | Mar2020 | Jun2020 | Sep2020 | Dec2020 | Mar2021 | Jun2021 | Sep2021 | Dec2021 | Mar2022 | Jun2022 | Sep2022 | Dec2022 | Mar2023 | Jun2023 | Sep2023 | Dec2023 | Mar2024 | Jun2024 | Sep2024 | Dec2024 | Mar2025 | Jun2025 | Sep2025 | Dec2025 | Mar2026 | Jun2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||||||||||||||||||
| Gross Margin | 84.69% | 86.53% | 84.58% | 80.23% | 74.89% | 72.05% | 65.35% | 74.39% | 74.85% | 76.37% | 71.46% | 70.36% | 76.55% | 79.73% | 81.02% | 82.03% | 82.03% | 82.49% | 82.12% | 83.19% | ||||||
| EBT Margin | 12.19% | 19.44% | 10.42% | -11.55% | -31.34% | -35.81% | -110.33% | -19.59% | -27.46% | -27.70% | -46.78% | -41.72% | -4.01% | -1.32% | -1.13% | 2.20% | 11.52% | 6.47% | -2.13% | 4.70% | ||||||
| EBIT Margin | 12.52% | 19.82% | 11.09% | -12.43% | -32.39% | -37.60% | -112.54% | -23.21% | -29.88% | -31.08% | -48.87% | -42.51% | -26.94% | -2.37% | -2.11% | 1.77% | 8.54% | 6.39% | -2.44% | 4.01% | ||||||
| EBITDA Margin | 12.52% | 19.82% | 11.09% | -12.43% | -32.39% | -37.60% | -112.54% | -23.21% | -29.88% | -31.08% | -48.87% | -42.51% | -26.94% | -2.37% | -2.11% | 1.77% | 8.54% | 6.39% | -2.44% | 4.01% | ||||||
| Operating Margin | 12.52% | 19.82% | 11.09% | -12.43% | -32.39% | -37.60% | -112.54% | -23.21% | -29.88% | -31.08% | -48.87% | -42.51% | -26.94% | -2.37% | -2.11% | 1.77% | 8.54% | 6.39% | -2.44% | 4.01% | ||||||
| Net Margin | 12.74% | 19.34% | 10.41% | -11.56% | -31.35% | -35.52% | -110.34% | -19.60% | -27.47% | -27.74% | -46.79% | -41.73% | -4.03% | -1.38% | -1.15% | 2.18% | 11.48% | 6.29% | -2.16% | 4.53% | ||||||
| FCF Margin | 17.86% | -4.79% | -86.14% | -21.99% | -58.76% | -153.80% | -68.36% | 149.87% | -75.31% | -96.19% | 31.34% | 54.61% | 105.59% | -57.08% | -9.21% | -48.35% | -45.66% | 35.39% | -44.62% | -38.61% | ||||||
| Efficiency | ||||||||||||||||||||||||||
| Assets AverageAssets Avg. | 1.26B | 1.71B | 1.90B | 1.95B | 1.92B | 1.93B | 1.88B | 1.79B | 1.88B | 2.01B | 1.97B | 1.87B | 1.81B | 2.09B | 2.33B | 2.39B | 2.69B | 2.94B | 2.97B | 3.07B | ||||||
| Invested CapitalInvested Cap. | 0.80B | 0.91B | 1.02B | 0.86B | 0.81B | 0.76B | 0.67B | 0.68B | 0.69B | 0.69B | 0.67B | 0.66B | 0.66B | 0.69B | 0.76B | 0.81B | 0.84B | 0.91B | 0.86B | 0.94B | ||||||
| Asset Utilization RatioAsset Util. | 0.50 | 0.50 | 0.55 | 0.57 | 0.55 | 0.47 | 0.38 | 0.33 | 0.30 | 0.28 | 0.29 | 0.30 | 0.32 | 0.30 | 0.31 | 0.35 | 0.35 | 0.36 | 0.38 | 0.41 | ||||||
| Leverage & Solvency | ||||||||||||||||||||||||||
| Interest Coverage RatioInterest Cover | 36.32 | -13.88 | -19.05 | -12.94 | -18.48 | -7.79 | -4.66 | -3.38 | -6.30 | -4.84 | -4.17 | -0.64 | -0.64 | 0.58 | 2.69 | 2.34 | -0.72 | 1.17 | ||||||||
| Debt Ratio | 0.05 | 0.06 | 0.07 | 0.06 | 0.05 | 0.05 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 | 0.03 | 0.04 | 0.04 | 0.05 | ||||||
| Times Interest Earned | 36.32 | -13.88 | -19.05 | -12.94 | -18.48 | -7.79 | -4.66 | -3.38 | -6.30 | -4.84 | -4.17 | -0.64 | -0.64 | 0.58 | 2.69 | 2.34 | -0.72 | 1.17 | ||||||||
| Dividends & Payouts | ||||||||||||||||||||||||||
| Dividend Coverage RatioDiv. Cover | ||||||||||||||||||||||||||
| FCF Payout RatioFCF Cover | ||||||||||||||||||||||||||
| Payout Ratio | ||||||||||||||||||||||||||
| Valuation | ||||||||||||||||||||||||||
| Price to EarningsP/E | 886.28 | 214.74 | 282.56 | -87.00 | -30.26 | -19.44 | -10.15 | -106.56 | -60.19 | -83.20 | -36.55 | -38.58 | -538.75 | -0.00B | -0.00B | 0.00B | 155.37 | 230.04 | -369.38 | 208.45 | ||||||
| Price to SalesP/S | 112.95 | 41.52 | 29.42 | 10.06 | 9.49 | 6.90 | 11.20 | 20.89 | 16.54 | 23.08 | 17.10 | 16.10 | 21.72 | 28.73 | 20.51 | 24.16 | 17.83 | 14.48 | 7.97 | 9.45 | ||||||
| Price to BookP/B | 35.88 | 15.68 | 10.54 | 3.43 | 2.37 | 1.60 | 2.09 | 4.70 | 3.79 | 5.55 | 3.85 | 3.53 | 6.11 | 9.09 | 6.47 | 8.61 | 6.64 | 5.37 | 3.35 | 4.32 | ||||||
| Enterprise Value | 25.80B | 12.66B | 9.24B | 2.60B | 1.70B | 1.07B | 1.31B | 3.00B | 2.43B | 3.16B | 2.37B | 2.11B | 3.65B | 4.98B | 3.78B | 5.83B | 4.46B | 3.64B | 1.99B | 3.00B | ||||||
| EV to EBIT | 902.21 | 209.52 | 265.19 | -80.94 | -29.29 | -18.36 | -9.96 | -90.01 | -55.35 | -66.59 | -35.12 | -38.08 | -80.93 | -0.00B | -840.84 | 0.00B | 188.67 | 192.38 | -264.06 | 205.05 | ||||||
| EV to EBITDA | 902.21 | 209.52 | 265.19 | -80.94 | -29.29 | -18.36 | -9.96 | -90.01 | -55.35 | -66.59 | -35.12 | -38.08 | -80.93 | -0.00B | -840.84 | 0.00B | 188.67 | 192.38 | -264.06 | 205.05 | ||||||
| Market Capitalization | 25.80B | 12.66B | 9.24B | 2.60B | 1.70B | 1.07B | 1.31B | 3.00B | 2.43B | 3.53B | 2.36B | 2.10B | 3.64B | 5.75B | 4.38B | 6.22B | 4.94B | 4.29B | 2.45B | 3.45B | ||||||
| Price to FCFP/FCF | 632.52 | -866.08 | -34.16 | -45.74 | -16.14 | -4.49 | -16.39 | 13.94 | -21.96 | -23.99 | 54.56 | 29.48 | 20.57 | -50.33 | -222.76 | -49.96 | -39.06 | 40.91 | -17.85 | -24.48 | ||||||
| EV to FCF | 632.52 | -866.08 | -34.16 | -45.74 | -16.14 | -4.49 | -16.39 | 13.94 | -21.96 | -21.52 | 54.76 | 29.64 | 20.65 | -43.52 | -192.44 | -46.86 | -35.29 | 34.73 | -14.43 | -21.32 | ||||||
| EV to CFO | 591.78 | -0.00B | -34.62 | -48.45 | -16.78 | -4.55 | -17.33 | 13.81 | -22.53 | -21.73 | 53.44 | 28.71 | 20.37 | -44.86 | -280.32 | -48.52 | -36.41 | 33.53 | -14.89 | -21.97 | ||||||
| Return Ratios | ||||||||||||||||||||||||||
| Return on Sales [ROS]ROS | 12.52% | 19.82% | 11.09% | -12.43% | -32.39% | -37.60% | -112.54% | -23.21% | -29.88% | -31.08% | -48.87% | -42.51% | -26.94% | -2.37% | -2.11% | 1.77% | 8.54% | 6.39% | -2.44% | 4.01% | ||||||
| Return on Invested Capital [ROIC]ROIC | 11.63% | 16.61% | 16.79% | 9.86% | 0.56% | -14.40% | -39.14% | -41.66% | -38.86% | -37.16% | -28.26% | -32.19% | -32.78% | -25.65% | -15.17% | -6.58% | 2.28% | 4.82% | 4.42% | 5.40% | ||||||
| Return on Assets [ROA]ROA | 6.18% | 7.91% | 8.30% | 4.65% | 0.29% | -5.64% | -14.40% | -15.00% | -13.44% | -11.95% | -8.90% | -10.77% | -9.27% | -6.16% | -2.85% | -0.27% | 1.20% | 1.82% | 1.66% | 1.97% |