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Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar loans.
2013
1.2K+
LTM Revenue $972M
LTM EBITDA $179M
$5.9B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
As of September 2025, Upstart reported last 12-month revenue of $972M and EBITDA of $179M.
In the same period, Upstart achieved $1.0M in LTM net income.
See Upstart valuation multiples based on analyst estimatesIn the most recent fiscal year, Upstart reported revenue of $629M.
Upstart expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Upstart valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $972M | XXX | $629M | XXX | XXX | XXX |
| Gross Profit | n/a | XXX | n/a | XXX | XXX | XXX |
| Gross Margin | n/a | XXX | n/a | XXX | XXX | XXX |
| EBITDA | $179M | XXX | n/a | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | n/a | XXX | XXX | XXX |
| EBIT | -$7.7M | XXX | n/a | XXX | XXX | XXX |
| EBIT Margin | -1% | XXX | n/a | XXX | XXX | XXX |
| Net Profit | $1.0M | XXX | -$129M | XXX | XXX | XXX |
| Net Margin | 0% | XXX | -20% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $609M | XXX | XXX | XXX |
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Upstart has current market cap of $4.5B, and EV of $5.9B.
As of October 17, 2025, Upstart's stock price is $47.
See Upstart trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5.9B | $4.5B | XXX | XXX | XXX | XXX | $1.28 |
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Start Free TrialUpstart's trades at 9.5x EV/Revenue multiple, and n/a EV/EBITDA.
See valuation multiples for Upstart and 15K+ public compsAs of October 17, 2025, Upstart has market cap of $4.5B and EV of $5.9B.
Equity research analysts estimate Upstart's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Upstart has a P/E ratio of 4394.9x.
| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $4.5B | XXX | $4.5B | XXX | XXX | XXX |
| EV (current) | $5.9B | XXX | $5.9B | XXX | XXX | XXX |
| EV/Revenue | 6.1x | XXX | 9.5x | XXX | XXX | XXX |
| EV/EBITDA | 33.2x | XXX | n/a | XXX | XXX | XXX |
| EV/EBIT | -771.3x | XXX | n/a | XXX | XXX | XXX |
| EV/Gross Profit | n/a | XXX | n/a | XXX | XXX | XXX |
| P/E | 4394.9x | XXX | -34.8x | XXX | XXX | XXX |
| EV/FCF | -118.9x | XXX | 33.7x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialUpstart's last 12 month revenue growth is 33%
Upstart's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged n/a for the same period.
Upstart's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Upstart's rule of X is 101% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Upstart and other 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 33% | XXX | 47% | XXX | XXX | XXX |
| EBITDA Margin | 18% | XXX | n/a | XXX | XXX | XXX |
| EBITDA Growth | 74% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | n/a | XXX | n/a | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 101% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.5M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | n/a | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 27% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Credit Clear | XXX | XXX | XXX | XXX | XXX | XXX |
| Harmoney Corp | XXX | XXX | XXX | XXX | XXX | XXX |
| Humm Group | XXX | XXX | XXX | XXX | XXX | XXX |
| MoneyMe | XXX | XXX | XXX | XXX | XXX | XXX |
| Plenti Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Upstart acquired XXX companies to date.
Last acquisition by Upstart was XXXXXXXX, XXXXX XXXXX XXXXXX . Upstart acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was Upstart founded? | Upstart was founded in 2013. |
| Where is Upstart headquartered? | Upstart is headquartered in United States of America. |
| How many employees does Upstart have? | As of today, Upstart has 1.2K+ employees. |
| Who is the CEO of Upstart? | Upstart's CEO is Mr. Dave Girouard. |
| Is Upstart publicy listed? | Yes, Upstart is a public company listed on NAS. |
| What is the stock symbol of Upstart? | Upstart trades under UPST ticker. |
| When did Upstart go public? | Upstart went public in 2020. |
| Who are competitors of Upstart? | Similar companies to Upstart include e.g. Credit Clear, Harmoney Corp, Humm Group, MoneyMe. |
| What is the current market cap of Upstart? | Upstart's current market cap is $4.5B |
| What is the current revenue of Upstart? | Upstart's last 12 months revenue is $972M. |
| What is the current revenue growth of Upstart? | Upstart revenue growth (NTM/LTM) is 33%. |
| What is the current EV/Revenue multiple of Upstart? | Current revenue multiple of Upstart is 6.1x. |
| Is Upstart profitable? | Yes, Upstart is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Upstart? | Upstart's last 12 months EBITDA is $179M. |
| What is Upstart's EBITDA margin? | Upstart's last 12 months EBITDA margin is 18%. |
| What is the current EV/EBITDA multiple of Upstart? | Current EBITDA multiple of Upstart is 33.2x. |
| What is the current FCF of Upstart? | Upstart's last 12 months FCF is -$50.0M. |
| What is Upstart's FCF margin? | Upstart's last 12 months FCF margin is -5%. |
| What is the current EV/FCF multiple of Upstart? | Current FCF multiple of Upstart is -118.9x. |
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