Upstart Holdings Inc (UPST) - Net Assets
Based on the latest financial reports, Upstart Holdings Inc (UPST) has net assets worth $798.82 Million USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.97 Billion) and total liabilities ($2.18 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check UPST asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $798.82 Million |
| % of Total Assets | 26.85% |
| Annual Growth Rate | 33.94% |
| 5-Year Change | -1.02% |
| 10-Year Change | N/A |
| Growth Volatility | 95.72 |
Upstart Holdings Inc - Net Assets Trend (2018–2025)
This chart illustrates how Upstart Holdings Inc's net assets have evolved over time, based on quarterly financial data. Also explore total assets of Upstart Holdings Inc for the complete picture of this company's asset base.
Annual Net Assets for Upstart Holdings Inc (2018–2025)
The table below shows the annual net assets of Upstart Holdings Inc from 2018 to 2025. For live valuation and market cap data, see market value of Upstart Holdings Inc.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $798.82 Million | +26.15% |
| 2024-12-31 | $633.22 Million | -0.33% |
| 2023-12-31 | $635.30 Million | -5.52% |
| 2022-12-31 | $672.43 Million | -16.68% |
| 2021-12-31 | $807.08 Million | +168.80% |
| 2020-12-31 | $300.25 Million | +586.73% |
| 2019-12-31 | $-61.69 Million | -159.74% |
| 2018-12-31 | $103.25 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Upstart Holdings Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 28247800000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $10.00K | 0.00% |
| Other Components | $1.16 Billion | 144.76% |
| Total Equity | $798.82 Million | 100.00% |
Upstart Holdings Inc Competitors by Market Cap
The table below lists competitors of Upstart Holdings Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Twist Bioscience Corp
NASDAQ:TWST
|
$3.01 Billion |
|
Tikehau Capital
PA:TKO
|
$3.01 Billion |
|
Virbac SA
PA:VIRP
|
$3.01 Billion |
|
AIR CHINA LTD H ADR/20
F:AD2B
|
$3.01 Billion |
|
OPENLANE, Inc.
NYSE:OPLN
|
$3.01 Billion |
|
CSSC Steel Structure Engineering Co Ltd
SHG:600072
|
$3.01 Billion |
|
Megacable Holdings S. A. B. de C. V
MX:MEGACPO
|
$3.01 Billion |
|
UCloud Technology Co Ltd
SHG:688158
|
$3.01 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Upstart Holdings Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 633,218,000 to 798,815,000, a change of 165,597,000 (26.2%).
- Net income of 53,601,000 contributed positively to equity growth.
- Other factors increased equity by 111,996,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $53.60 Million | +6.71% |
| Other Changes | $112.00 Million | +14.02% |
| Total Change | $- | 26.15% |
Book Value vs Market Value Analysis
This analysis compares Upstart Holdings Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.41x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 5.07x to 4.41x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | $6.46 | $32.74 | x |
| 2019-12-31 | $-4.37 | $32.74 | x |
| 2020-12-31 | $11.38 | $32.74 | x |
| 2021-12-31 | $8.52 | $32.74 | x |
| 2022-12-31 | $8.12 | $32.74 | x |
| 2023-12-31 | $7.58 | $32.74 | x |
| 2024-12-31 | $7.08 | $32.74 | x |
| 2025-12-31 | $7.43 | $32.74 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Upstart Holdings Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.71%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.13%
- • Asset Turnover: 0.35x
- • Equity Multiplier: 3.72x
- Recent ROE (6.71%) is above the historical average (-7.65%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | -12.29% | -11.30% | 0.15x | 7.08x | $-20.34 Million |
| 2019 | 0.00% | -3.06% | 0.42x | 0.00x | $1.25 Million |
| 2020 | 1.86% | 2.39% | 0.49x | 1.59x | $-24.45 Million |
| 2021 | 16.78% | 15.96% | 0.47x | 2.26x | $54.74 Million |
| 2022 | -16.16% | -12.90% | 0.44x | 2.88x | $-175.91 Million |
| 2023 | -37.80% | -43.84% | 0.27x | 3.18x | $-303.66 Million |
| 2024 | -20.31% | -18.99% | 0.29x | 3.74x | $-191.90 Million |
| 2025 | 6.71% | 5.13% | 0.35x | 3.72x | $-26.28 Million |
Industry Comparison
This section compares Upstart Holdings Inc's net assets metrics with peer companies in the Credit Services industry.
Industry Context
- Industry: Credit Services
- Average net assets among peers: $4,215,656,516
- Average return on equity (ROE) among peers: 85.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Upstart Holdings Inc (UPST) | $798.82 Million | -12.29% | 2.72x | $3.01 Billion |
| Affirm Holdings Inc (AFRM) | $3.07 Billion | 1.70% | 2.63x | $16.59 Billion |
| Federal Agricultural Mortgage Corporation (AGM) | $156.65 Million | -95.99% | 31.60x | $1.63 Billion |
| Federal Agricultural Mortgage Corporation (AGM-A) | $248.49 Million | 12.88% | 18.94x | $137.84 Million |
| AIOS Tech Inc. (AIOS) | $53.94 Million | 5.08% | 0.74x | $3.53 Million |
| Ally Financial Inc (ALLY) | $17.05 Billion | 17.95% | 9.70x | $12.59 Billion |
| Antalpha Platform Holding Co (ANTA) | $202.32 Million | 9.14% | 10.90x | $210.67 Million |
| Atlanticus Holdings Corporation (ATLC) | $-22.13 Million | 0.00% | 0.00x | $958.76 Million |
| American Express Company (AXP) | $20.67 Billion | 28.47% | 6.70x | $219.50 Billion |
| Bread Financial Holdings, Inc. (BFH) | $23.09 Million | 838.91% | 357.19x | $3.31 Billion |
| Credit Acceptance Corporation (CACC) | $702.20 Million | 37.91% | 2.97x | $5.39 Billion |
About Upstart Holdings Inc
Upstart Holdings, Inc., together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. The company operates through three segments: Personal Lending, Auto Lending, and Other. Its platform includes unsecured personal loans, small dollar loans, auto refinance, auto retail loans, and auto secured personal loan, and home equity lines of cred… Read more