TTM
4.2%
YoY change
+24.02pp
Trough year (2023)
-43.8%
Peak year (2021)
15.7%
Latest annual
5.1%
Operating Margin history chart for Upstart Holdings (UPST) from 2017 to 2025
Latest: 5.1%
Operating Margin change chart for Upstart Holdings (UPST) from 2017 to 2025
Latest: +24.02pp
Operating Margin history table for Upstart Holdings (UPST) from 2017 to 2025
| 2025 | 5.1% | +24.02pp | ||
| 2024 | -19.0% | +24.86pp | ||
| 2023 | -43.8% | -31.04pp | ||
| 2022 | -12.8% | -28.52pp | ||
| 2021 | 15.7% | +13.15pp | ||
| 2020 | 2.6% | +5.20pp | ||
| 2019 | -2.6% | +5.73pp | ||
| 2018 | -8.3% | +5.20pp | ||
| 2017 | -13.5% | — |
- 20255.1%+24.02pp
- 2024-19.0%+24.86pp
- 2023-43.8%-31.04pp
- 2022-12.8%-28.52pp
- 202115.7%+13.15pp
- 20202.6%+5.20pp
- 2019-2.6%+5.73pp
- 2018-8.3%+5.20pp
- 2017-13.5%—
Operating Margin values are taken from Upstart Holdings's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Upstart Holdings (UPST)
According to Upstart Holdings's latest reported financial statements, the company's latest reported operating margin is 4.2%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, Upstart Holdings (UPST) reported operating margin of 5.05% – expanded 24.0 percentage points year-over-year.
Across the available history, operating margin reached its high of 15.74% in 2021 and its low of -43.82% in 2023.
Upstart Holdings Operating Margin by Year
Upstart Holdings Operating Margin 2025: 5.1%
Upstart Holdings operating margin in 2025 was 5.05%, expanded 24.0 percentage points from 2024.
Upstart Holdings Operating Margin 2024: -19.0%
2024's operating margin for Upstart Holdings came in at -18.97%, expanded 24.9 percentage points from 2023.
Upstart Holdings Operating Margin 2023: -43.8%
Upstart Holdings posted operating margin of -43.82% in 2023, contracted 31.0 percentage points from 2022. This figure represents the lowest annual value in the available history.
Upstart Holdings Operating Margin 2022: -12.8%
In 2022, Upstart Holdings reported operating margin of -12.78%, contracted 28.5 percentage points from 2021.
Upstart Holdings Operating Margin 2021: 15.7%
Upstart Holdings operating margin in 2021 was 15.74%.
See more financial history for Upstart Holdings (UPST).
Sector peers by Operating Margin
Financial Services peers of Upstart Holdings (UPST), ranked by their latest operating margin
| 61.1% | |
| 59.4% | |
| 26.2% | |
| 22.9% | |
| 20.5% | |
| 20.5% | |
| 19.5% | |
| 16.1% |
- 61.1%
- 59.4%
- 26.2%
- 20.5%
- 20.5%
- 19.5%
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