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Upstart Holdings, Inc. UPST Return on invested capital

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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$3.01B-43.6%
Enterprise value$4.02B-29.1%
P/E61×
P/S2.6×-4.7×

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.

Based on trailing twelve months.

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 return on invested capital?
Upstart Holdings, Inc. (UPST) reported return on invested capital of 2.7% in Q1 2026.
How has Upstart Holdings, Inc.'s return on invested capital changed year-over-year?
Upstart Holdings, Inc.'s return on invested capital increased by 131.6% year-over-year, from -8.5% to 2.7%.
What is the long-term trend for Upstart Holdings, Inc.'s return on invested capital?
Over 4 years (2021 to 2025), Upstart Holdings, Inc.'s return on invested capital has grown at a -46.2% compound annual growth rate (CAGR), from 37.7% to 3.2%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.