Where do Upstart Holdings, Inc.'s ratios come from?

Every ratio is computed from Upstart Holdings, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Operating margin	3.5%+18.7pp	4.1%+31.2pp	2%+40.6pp	-5.9%+34.6pp	-15.2%+20.5pp
Net margin	4.3%+13.5pp	5.1%+25.3pp	3.3%+33.5pp	-0.7%+37.3pp	-9.2%+23.4pp
EBITDA margin	5.6%+17.9pp	6.5%+30.4pp	4.3%+38.5pp	-3.2%+32.6pp	-12.3%+18.9pp
Returns
Return on equity	7%+17.3pp	7.5%+27.8pp	4.8%+32.0pp	-1%+31.8pp	-10.3%+18.0pp
Return on assets	1.9%+5.0pp	2%+7.9pp	1.4%+10.2pp	-0.3%+11.0pp	-3.1%+6.2pp
Return on invested capital	2.7%+11.1pp	3.2%+17.1pp	1.3%+20.0pp	-3.7%+14.1pp	-8.5%+5.7pp
Efficiency
Asset turnover	0.4×+0.1×	0.4×+0.1×	0.4×+0.1×	0.4×+0.1×	0.3×+0.1×
Leverage
Debt-to-equity	2.6×+0.6×	2.3×0.0×	2.5×+1.0×	2×+0.4×	2×+0.3×
Debt-to-assets	0.7×+0.1×	0.6×0.0×	0.7×+0.1×	0.6×+0.1×	0.6×0.0×
Interest coverage	1.1×+4.1×	1.3×+5.6×	0.6×+5.2×	-1.5×+3.2×	-3×+2.0×
Per Share
Book value per share	$7.57+5.4%	$7.43+5.0%	$6.78+2.6%	$7.02+4.4%	$7.18+1.9%
Valuation
Market capitalization	$2.43B-43.6%	$4.25B-24.3%	$4.89B+36.5%	$6.17B+198%	$4.31B+85.6%
Enterprise value	$3.44B-29.1%	$5.05B-17.2%	$5.95B+45.9%	$6.94B+160%	$4.86B+57.2%
Price / sales	2.1×-3.8×	4.1×-4.7×	5.1×-1.4×	7.2×+3.3×	6×+1.7×
Price / book	3.3×-3.1×	5.3×-3.5×	6.6×+0.6×	8.5×+5.1×	6.4×+2.6×
EV / sales	3×-3.7×	4.8×-4.7×	6.2×-1.2×	8.1×+3.1×	6.7×+1.0×
Earnings yield	2%+3.6pp	1.3%+3.5pp	0.7%+5.4pp	-0.1%+9.6pp	-1.5%+6.0pp

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Questions, answered.

Where do Upstart Holdings, Inc.'s ratios come from?: Every ratio is computed from Upstart Holdings, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.