# Upstart Holdings, Inc. Common stock (UPST) — Stock CV

Upstart Holdings, Inc. is a $2.35B financial services company. Revenue grew 50.2% over the last year, and it keeps 5¢ of every dollar of sales as profit. It trades at 38.9× earnings — in the cheapest third of its own history.

> Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform.

## Identity

- **Ticker**: UPST
- **Sector**: Financial Services
- **Industry**: Finance Services
- **Headquarters**: SAN MATEO, CA
- **Employees**: 1 405
- **Website**: https://www.upstart.com
- **Market cap**: $2.35B
- **Last price**: $24.10
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $1.25B
- **Net income**: $60.3M
- **Free cash flow**: -$289M
- **P/E**: 38.9
- **Revenue growth (YoY)**: 50.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 50 |
| Growth | 37 |
| Profitability | 48 |
| Health | 31 |
| Quality | 16 |
| Moat | 11 |

## Qualifications (beginner checklist) — 6 of 10 passed

- [x] Revenue growing — +50.2% YoY
- [x] Profitable — $60.3M TTM
- [x] Profit growing — +43.7% YoY
- [ ] Generates cash — -$289M TTM
- [x] Debt under control — current ratio 1.55
- [x] Established company — $2.35B market cap
- [ ] Not printing shares — +13.4% shares over ~5y
- [ ] Proven track record — 2/5 profitable years
- [ ] Financially stable — Altman Z 1.5 — distress
- [x] Valuation not extreme — P/E 38.9

## Experience (career milestones)

- **FY2025** — Revenue crossed $1B: $1.04B for the year
- **FY2021** — First recorded profitable year: $135M net income
- **FY2021** — Best year on record: $135M net income
- **2020** — Upstart went public via an initial public offering
- **2012** — It was first launched in April 2012 with an Income Share Agreement (ISA) product

## Strengths

- High gross margin (82.5%)
- Revenue growing 50.2% year over year
- High returns on invested capital (ROIC 36.6%)

## Watch-outs

- Negative free cash flow (-$289.0M)
- Altman Z-Score 1.48 — elevated financial-distress risk
- Loss-making in 3 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $849M | $135M | $160M |
| FY2022 | $842M | -$109M | -$684M |
| FY2023 | $514M | -$240M | -$162M |
| FY2024 | $637M | -$129M | $185M |
| FY2025 | $1.04B | $53.6M | -$148M |

---

Source: https://stockcv.com/UPST — derived from company filings; may be delayed or incomplete. Information, not investment advice.