Upstart Holdings, Inc.
UPSTNasdaqFinancials · Finance Services · DE · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $1.04B | $636.5M | $513.6M | $907.3M | $801.3M | $228.6M |
| Operating income | $42.6M | −$172.9M | −$256.5M | −$113.9M | $140.9M | $11.8M |
| Net income | $53.6M | −$128.6M | −$240.1M | −$108.7M | $135.4M | $6.0M |
| Total assets | $2.97B | $2.37B | $2.02B | $1.94B | $1.82B | $477.3M |
| Total liabilities | $2.18B | $1.73B | $1.38B | $1.26B | $1.01B | $177.0M |
| Equity | $798.8M | $633.2M | $635.3M | $672.4M | $807.1M | $300.3M |
| EPS (diluted) | $0.45 | $-1.44 | $-2.87 | $-1.31 | $1.43 | $0.00 |
| Shares out. | 93.7M | 86.4M | 81.4M | 84.1M | 83.7M | 73.3M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 4.1%
- Net margin
- 5.1%
- Return on equity
- 6.7%
- Return on assets
- 1.8%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 73.1%
- Debt / equity
- 2.72×
- Book value / share
- $8.52
- Revenue growth (YoY)
- 64.0%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- 6.8%moderate
- Piotroski F-Score
- 5/8mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 warning● 2 good- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Operating margin is positive
- Revenue is growing year-over-year
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Vanguard Group IncPassive (13G)Mar 27, 2026
- Jericho Capital Asset Management L.P.Passive (13G)Feb 17, 2026
- Susquehanna Securities, LlcPassive (13G)Feb 13, 2026
- Citadel Securities Gp LlcPassive (13G)Oct 9, 2025
- D. E. Shaw & Co, L.P.Passive (13G)Feb 14, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Mirgorodskaya NataliaOfficer — See Remarks | May 26, 2026 | Sell | 974 | $28.99 |
| Darling ScottOfficer — Chief Legal Officer | May 20, 2026 | Sell | 6,634 | $28.78 |
| Datta SanjayOfficer — President, Capital& Enterprise | May 20, 2026 | Sell | 7,985 | $28.77 |
| Mirgorodskaya NataliaOfficer — See Remarks | May 20, 2026 | Sell | 526 | $28.77 |
| Mirgorodskaya NataliaOfficer — See Remarks | May 15, 2026 | Option exercise | 4,600 | $1.35 |
| Blankmeyer AndreaOfficer — Chief Financial Officer | May 15, 2026 | Sell | 2,759 | $28.96 |
| Darling ScottOfficer — Chief Legal Officer | May 15, 2026 | Sell | 286 | $28.84 |
| Datta SanjayOfficer — President, Capital& Enterprise | May 15, 2026 | Sell | 806 | $28.96 |
| Gu PaulOfficer — Chief Executive Officer | May 13, 2026 | Buy | 50,000 | $27.50 |
| Girouard DaveDirector | May 7, 2026 | Option exercise | 835,075 | $0.83 |
| Girouard DaveDirector | May 7, 2026 | Buy | 169,940 | $29.37 |
| Blankmeyer AndreaOfficer — Chief Financial Officer | Mar 31, 2026 | Grant | 169,427 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 26.7M | 5.0 | -1.1% |
| Apr 30, 2026 | 27.0M | 6.5 | -3.2% |
| Apr 15, 2026 | 27.9M | 6.6 | +0.8% |
| Mar 31, 2026 | 27.6M | 5.7 | -0.5% |
| Mar 13, 2026 | 27.8M | 5.2 | +11.5% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Shareholder voteMay 28, 2026
- Director / officer changeMay 19, 2026
- Results of operationsMay 5, 2026
- Other material eventMar 10, 2026
- Other material eventFeb 19, 2026
- Director / officer changeFeb 10, 2026
- Results of operationsFeb 10, 2026
- Results of operationsNov 4, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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