Upstart Holdings, Inc. (UPST) stock

UPSTNasdaqFinance ServicesFiscal year ends December 31

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Nov 3, 2026Score 12/3013% below fair value

$19.56+0.41 (+2.14%)

Close on Nov 13, 2026Market cap $1.90BP/E 39.9Yield –

Upstart operating margin

Operating margin is operating income as a percentage of revenue.

Upstart's operating margin for the twelve months ending Jun 30, 2026 was 4.0%. For fiscal 2025 it was 4.1%, against -27.2% the year before. The highest annual figure on record is 16.6% in fiscal 2021.

Annual operating margin

Period	Period end	Value	Change (pts)
FY2025	Dec 31, 2025	4.1%	+31.2
FY2024	Dec 31, 2024	-27.2%	+22.8
FY2023	Dec 31, 2023	-50.0%	−36.4
FY2022	Dec 31, 2022	-13.5%	−30.1
FY2021	Dec 31, 2021	16.6%	+11.6
FY2020	Dec 31, 2020	5.0%	+7.8
FY2019	Dec 31, 2019	-2.8%	–

Quarterly operating margin

Change is against the same quarter a year earlier.

Period	Period end	Value	Change (pts)
Q2 FY2026	Jun 30, 2026	4.0%	+2.2
Q1 FY2026	Mar 31, 2026	-2.4%	−0.3
Q4 FY2025	Dec 31, 2025	6.4%	+8.6
Q3 FY2025	Sep 30, 2025	8.5%	+36.4
Q2 FY2025	Jun 30, 2025	1.8%	+45.2
Q1 FY2025	Mar 31, 2025	-2.1%	+50.7
Q4 FY2024	Dec 31, 2024	-2.2%	+31.7
Q3 FY2024	Sep 30, 2024	-27.8%	+4.7
Q2 FY2024	Jun 30, 2024	-43.5%	−18.9
Q1 FY2024	Mar 31, 2024	-52.8%	+75.3
Q4 FY2023	Dec 31, 2023	-33.9%	+6.0
Q3 FY2023	Sep 30, 2023	-32.6%	+4.4
Q2 FY2023	Jun 30, 2023	-24.6%	−10.5
Q1 FY2023	Mar 31, 2023	-128.1%	−139.3
Q4 FY2022	Dec 31, 2022	-39.8%	−59.6
Q3 FY2022	Sep 30, 2022	-36.9%	−49.5
Q2 FY2022	Jun 30, 2022	-14.1%	−32.8
Q1 FY2022	Mar 31, 2022	11.2%	−1.6
Q4 FY2021	Dec 31, 2021	19.8%	+7.8
Q3 FY2021	Sep 30, 2021	12.5%	−6.2
Q2 FY2021	Jun 30, 2021	18.7%	+84.3
Q1 FY2021	Mar 31, 2021	12.8%	+12.0
Q4 FY2020	Dec 31, 2020	12.0%	–
Q3 FY2020	Sep 30, 2020	18.7%	–
Q2 FY2020	Jun 30, 2020	-65.6%	–
Q1 FY2020	Mar 31, 2020	0.9%	–