# Upstart Holdings Inc. (UPST) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Financial Services / Consumer Finance. Price $28.05, market value $2.7 billion.

## Valuation
- **P/E (trailing): 53.9×** (5-yr avg 101.5×, 3-yr avg 97.2×). Upstart Holdings Inc. trades at 53.9× trailing earnings, well below its own five-year average of 101.5×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 8.1×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.06**. A PEG of 0.06 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 2.2×**. Each dollar of revenue is priced at 2.2×.
- **Price / book: 3.4×**. The shares trade at 3.4× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 51.9×**. Enterprise value is 51.9× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: -10.6%** (5-yr avg -12.6%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 1.9%**. The inverse of the P/E: 1.9% of the price is earned each year.

## Profitability
- **Operating margin: 4.0%**. 4.0% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 5.1%**. 5.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 6.7%**. 6.7% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 2.0%**. Return on all capital, debt included, is 2.0%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 2.0%**. Each dollar of assets produces 2.0% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 64.0%** (3-yr 4.8%/yr, 5-yr 35.5%/yr). Revenue grew 64.0% over the last year, against 35.5% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 131.3%**. Earnings per share rose 131.3%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.
- **Cash and short-term investments: $652 million**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. Upstart Holdings Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (15 analysts). 15 analysts cover Upstart Holdings Inc.; the consensus is buy, with an average price target of $40.40 (+44% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -57.4%** (YTD -35.9%, 3-mo -5.7%). The shares are down 57.4% over twelve months including dividends.
- **From 52-week high: -60.7%** (17.0% above the low). Trading 61% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 43**. An RSI of 43 is neutral.
- **Beta (1 yr): 2.87** (volatility 66%). Beta of 2.87 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=UPST · Page: https://foliofundamentals.com/stocks/upst

Not investment advice.