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Discontinued — last reported Q1 '26

Invested capital at other companies

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Travel + LeisureTNL
18.8%+0.1pp
Belden logo
BeldenBDC
12.2%+0.5pp
Envista Holdings Corporation logo
Envista Holdings CorporationNVST
3.4%+1.8pp
Liberty Broadband Corporation logo
Liberty Broadband CorporationLBRDK
-0.3%-0.1pp
Archer Aviation logo
Archer AviationACHR
-129.7%-62.3pp
Kiniksa Pharmaceuticals International, plc logo
Kiniksa Pharmaceuticals International, plcKNSA
17.5%+14.2pp

Other financials

Income statement

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Revenue$308.2M+44.4%
Operating income-$7.5M-67.2%
Net income-$6.6M-172%
EPS (diluted)-$0.07-133%

Balance sheet

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Cash & equivalents$931.3M+10.9%
Total debt$1.9B+40.3%
Total equity$733.2M+8.4%
Total assets$3.0B+29.0%

Cash flow

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Operating cash flow-$133.3M-888%
CapEx$2.8M
Free cash flow-$136.0M-909%

Valuation

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Market cap$3.12B-43.6%

Profitability

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Operating margin3.5%+1.9pp
Net margin4.3%+2.6pp
FCF margin27%+16.9pp

Returns & leverage

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Return on equity7%+4.4pp
Debt / equity2.6×+0.6×

Where this comes from

Calculated from Upstart Holdings, Inc.’s reported figures.

The official record: Upstart Holdings, Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upstart Holdings, Inc.'s invested capital?
Upstart Holdings, Inc. (UPST) reported invested capital of $1.74B in Q1 2026.
How has Upstart Holdings, Inc.'s invested capital changed year-over-year?
Upstart Holdings, Inc.'s invested capital increased by 42.8% year-over-year, from $1.22B to $1.74B.
What is the long-term trend for Upstart Holdings, Inc.'s invested capital?
Over 5 years (2020 to 2025), Upstart Holdings, Inc.'s invested capital has grown at a 64.7% compound annual growth rate (CAGR), from $131.49M to $1.59B.
What does invested capital mean?
Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).