Upstart Holdings, Inc. Financial Ratios — UPST Stock

Profitability (USD)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	24.46	-14.69	-36.72	-20.27	7.49
Return on Assets (%)	- -	-3.81	-0.09	1.37	11.79	-5.79	-12.15	-5.87	2.01
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	0.17	0.33	0.48	1.03	0.89	1.61	4.9	3.27	2.43
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-15.91	-11.74	-3.04	2.68	15.8	-13.02	-47.24	-20.42	5.31
Profit Margin (%)	-13.87	-12.89	-0.29	2.69	16	-12.97	-47.26	-20.45	5.23
Net Income to Common Margin (%)	-13.87	-12.89	-0.29	- -	16	-12.97	-47.26	-20.45	5.23
Effective Tax Rate (%)	- -	- -	- -	6.24	- -	- -	- -	- -	1.34
Dvd Payout Ratio (%)	- -	- -	- -	740.47	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	24.46	-14.69	-36.72	-20.27	7.49

Credit (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	128	136	82	796	1,087	1,103	1,452	1,850
ST Debt	- -	49	85	40	48	336	387	196	97
LT Debt	- -	79	51	42	748	751	715	1,257	1,753
Total Debt/EBITDA	- -	408.14	175.28	36.02	105.53	80.45	44.28	70.68	74.5
Net Debt/EBITDA	- -	171.54	87.59	-86.1	-39.72	41	26.63	29.62	47.18
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	-10.32	-15.94	62.91	44.33	34.73	31.5	26.75	26.85
Long-Term Debt/Equity (%)	- -	- -	- -	13.84	92.65	111.64	112.6	198.48	219.45
Long-Term Debt/Capital (%)	- -	107.35	69.04	10.87	46.65	42.66	41.16	60.26	66.17
Long-Term Debt/Total Assets (%)	- -	12.21	12.98	8.71	41.08	38.78	35.46	53.1	58.93
Total Debt/Equity (%)	- -	-234.42	-219.93	27.33	98.6	161.68	173.58	229.38	231.63
Total Debt/Capital (%)	- -	174.39	183.38	21.46	49.65	61.79	63.45	69.64	69.85
Total Debt/Total Assets (%)	- -	19.84	34.48	17.19	43.71	56.15	54.67	61.36	62.2
Net Debt to Equity	- -	-98.52	-109.89	-65.33	-37.12	82.38	104.38	96.11	146.68
Net Debt/Capital (%)	- -	-6,674.47	292.66	-158.76	-49.28	41.74	48.73	47.1	58.83
EBITDA	- -	- -	1	2	8	14	25	21	25
EBITDA-CapEx	- -	- -	-3	1	-1	5	23	20	24
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	-10.32	-15.94	62.91	44.33	34.73	31.5	26.75	26.85
Long-Term Debt/Equity (%)	- -	- -	- -	13.84	92.65	111.64	112.6	198.48	219.45
Long-Term Debt/Capital (%)	- -	107.35	69.04	10.87	46.65	42.66	41.16	60.26	66.17
Long-Term Debt/Total Assets (%)	- -	12.21	12.98	8.71	41.08	38.78	35.46	53.1	58.93
Total Debt/Equity (%)	- -	-234.42	-219.93	27.33	98.6	161.68	173.58	229.38	231.63
Total Debt/Capital (%)	- -	174.39	183.38	21.46	49.65	61.79	63.45	69.64	69.85
Total Debt/Total Assets (%)	- -	19.84	34.48	17.19	43.71	56.15	54.67	61.36	62.2
CFO/Total Liabilities	- -	7.19	6.94	8.87	16.61	-52.06	-8.08	10.75	-6.79
CFO/CapEx	- -	340.12	7.89	11.58	19.98	-74.55	-73.16	222.62	-425.72
Altman's Z-Score	- -	-0.01	0.15	10.39	8.04	0.93	1.59	2.01	1.36

Working Capital (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	75.65	30.01	22.23	25.21	16.4	11.66	14.18	42.46
Days Sales Outstanding	- -	4.83	12.16	16.42	14.48	22.26	31.3	25.75	8.6
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	2,988	12,658	1,074	3,527	5,755	4,287
- Cash & Cash Equivalents	- -	74	51	259	995	432	377	794	657
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	12	1	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	128	136	82	796	1,087	1,103	1,452	1,850
Enterprise Value	- -	66	86	2,811	12,459	1,729	4,253	6,414	5,480
Total Capital	- -	73	74	382	1,603	1,760	1,738	2,086	2,649
Total Debt/Capital (%)	- -	174.39	183.38	21.46	49.65	61.79	63.45	69.64	69.85
Total Debt / EV	- -	1.95	1.58	0.03	0.06	0.63	0.26	0.23	0.34
EV/Sales	- -	0.69	0.53	12.66	14.72	2.06	8.37	10.2	5.35
EV/EBITDA	- -	209.76	110.95	1,233.91	1,652.1	127.95	170.78	312.12	220.65
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	1.31	2.72	179.07	74	- -	- -	34.42	- -
EV/Free Cash Flow to Firm	- -	1.3	2.41	164.84	70.47	- -	- -	34.27	- -
Diluted Market Cap	- -	- -	- -	714	14,339	1,094	3,423	5,507	4,701
Diluted Enterprise Value	- -	66	86	537	14,140	1,749	4,148	6,166	5,894
EV per Share	- -	0.91	1.19	38.34	148.92	21.28	49.26	68.62	55.9
TTM Sales	56	96	163	222	847	838	508	629	1,024
TTM EBITDA	- -	- -	1	2	8	14	25	21	25
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	10	50	32	16	168	-658	-112	186	-148
TTM Free Cash Flow to Firm	10	50	36	17	177	-649	-110	187	-147

Multiples (USD)

API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	41.85	81.11	-1.69	-31.06	29.43	-31.9
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	66	86	2,811	12,459	1,729	4,253	6,414	5,480
Low Price	- -	- -	- -	22.61	38.05	12.01	11.93	20.6	31.4
EV/Sales	- -	0.69	0.53	12.66	14.72	2.06	8.37	10.2	5.35
EV/EBITDA	- -	209.76	110.95	1,233.91	1,652.1	127.95	170.78	312.12	220.65
Price/Earnings	- -	- -	- -	- -	87.25	- -	- -	- -	78.35
Price/Earnings Average	- -	- -	- -	- -	93.92	-41.8	-9.65	-26.07	101.9
Price/Earnings High	- -	- -	- -	- -	231.53	-122.64	-25.32	-61.88	172.76
Price/Earnings Low	- -	- -	- -	- -	21.94	-9.15	-4.16	-14.33	56.26
Price/Book Value	- -	- -	- -	9.95	15.68	1.6	5.55	9.09	5.37
Price/Book Value Average	- -	- -	- -	10.02	16.88	6.63	3.76	5.53	6.98
Price/Book Value High	- -	- -	- -	12.55	41.62	19.46	9.86	13.13	11.83
Price/Book Value Low	- -	- -	- -	5.52	3.94	1.45	1.62	3.04	3.85
Price/Tangible Book Value	- -	- -	- -	9.95	17.58	1.82	6.33	10.34	5.93
Price/Tangible Book Value Average	- -	- -	- -	10.02	18.92	7.56	4.29	6.29	7.71
Price/Tangible Book Value High	- -	- -	- -	12.55	46.64	22.18	11.25	14.93	13.07
Price/Tangible Book Value Low	- -	- -	- -	5.52	4.42	1.65	1.85	3.46	4.25
Price/Sales	- -	- -	- -	3.21	13.96	1.31	6.74	8.76	4.1
Price/Sales Average	- -	- -	- -	3.24	15.03	5.42	4.56	5.33	5.33
Price/Sales High	- -	- -	- -	4.05	37.04	15.91	11.97	12.65	9.04
Price/Sales Low	- -	- -	- -	1.78	3.51	1.19	1.97	2.93	2.94
Price/Cash Flow	- -	- -	- -	45.47	70.19	-1.66	-30.64	29.56	-28.43
Price/Cash Flow Average	- -	- -	- -	45.8	75.56	-6.9	-20.75	17.99	-36.97
Price/Cash Flow High	- -	- -	- -	57.35	186.27	-20.26	-54.42	42.7	-62.69
Price/Cash Flow Low	- -	- -	- -	25.23	17.65	-1.51	-8.95	9.89	-20.41
Price/Free Cash Flow Average	- -	- -	- -	42.16	87.31	-7	-21.04	17.91	-41.48
Price/Free Cash Flow High	- -	- -	- -	52.79	215.24	-20.53	-55.18	42.51	-70.33
Price/Free Cash Flow Low	- -	- -	- -	23.22	20.4	-1.53	-9.07	9.85	-22.9
EV/Sales Average	- -	0.69	0.53	12.76	15.86	6.1	6.13	6.62	6.61
EV/Sales High	- -	0.69	0.53	16.17	39.44	16.4	13.76	14.27	10.4
EV/Sales Low	- -	0.69	0.53	6.67	3.52	1.95	3.45	4.11	4.17
EV/EBITDA Average	- -	209.76	110.95	1,243.56	1,780.37	378.46	125.08	202.5	272.55
EV/EBITDA High	- -	209.76	110.95	1,576.66	4,427.71	1,016.62	280.74	436.66	428.68
EV/EBITDA Low	- -	209.76	110.95	650.1	395.71	120.68	70.49	125.76	171.98
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	40.75	151.3	13.22	40.86	61.57	43.73
High Price	- -	- -	- -	51.4	401.49	161	72.58	88.95	96.43
Enterprise Value Average	- -	66	86	2,833	13,426	5,114	3,115	4,161	6,769
Enterprise Value High	- -	66	86	3,592	33,389	13,738	6,991	8,973	10,646
Enterprise Value Low	- -	66	86	1,481	2,984	1,631	1,755	2,584	4,271

Shares Outstanding	- -	72	72	73	84	81	86	93	98
Diluted Weighted Avg Shares	71	14	14	18	95	83	84	89	107
Basic Weighted Avg Shares	62	14	14	18	78	83	84	89	96
Revenue per Share	0.89	6.77	11.36	12.68	10.84	10.12	6.07	7.03	10.66
EBITDA per Share	- -	0.02	0.05	0.13	0.1	0.16	0.3	0.23	0.26
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-0.12	-0.87	-0.03	- -	1.73	-1.31	-2.87	-1.44	0.56
Basic EPS from Cont Ops	-0.14	-0.79	-0.35	0.32	1.73	-1.31	-2.87	-1.44	0.56
Diluted EPS, GAAP	-0.11	-0.87	-0.03	- -	1.43	-1.31	-2.87	-1.44	0.5
Diluted EPS from Cont Ops	-0.12	-0.79	-0.35	0.32	1.43	-1.31	-2.87	-1.44	0.5
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.17	3.56	2.2	0.9	2.16	-7.95	-1.33	2.08	-1.54
Free Cash Flow per Basic Share	0.17	3.55	1.92	0.82	2.05	-8.05	-1.35	2.07	-1.54
Cash & Equivalents per Share	- -	1.03	0.7	3.53	11.89	5.32	4.37	8.49	6.71
Book Value per Share	- -	-0.92	-0.87	4.1	9.65	8.28	7.36	6.77	8.15
Tangible Book Value per Share	- -	-0.92	-0.87	4.1	8.61	7.26	6.45	5.96	7.38

Upstart Holdings, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)