Question 1

What is Upstart Holdings's P/S ratio?

Accepted Answer

Upstart Holdings (UPST) P/S ratio is 2.5× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Upstart Holdings?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Upstart Holdings specifically, the relevant sector benchmark is the current sector median of 2.2×.

Question 5

Is Upstart Holdings's P/S ratio high or low?

Accepted Answer

Upstart Holdings's P/S ratio of 2.5× is below its own 5-year average of 8.6× and above the sector median of 2.2×. That places the current reading at the 17th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Upstart Holdings's historical P/S ratio range?

Accepted Answer

In the available daily series, Upstart Holdings (UPST) P/S ratio has ranged from a low of 1.0× in 2022 to a high of 80.9× in 2021. The 5-year average is 8.6× and the 5-year median is 5.1×.

Question 7

What was Upstart Holdings's P/S ratio in 2025?

Accepted Answer

Upstart Holdings (UPST) P/S ratio at the end of 2025 was 4.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Upstart Holdings's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$4.27B	$1.08B	4.0×	-4.4×	Dec 31, 2025
2024	$5.68B	$676.96M	8.4×	+1.9×	Dec 31, 2024
2023	$3.50B	$543.01M	6.4×	+5.2×	Dec 31, 2023
2022	$1.09B	$848.60M	1.3×	-16.2×	Dec 31, 2022
2021	$14.87B	$850.69M	17.5×	+12.9×	Dec 31, 2021
2020	$1.06B	$230.08M	4.6×	—	Dec 31, 2020


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Synchrony Financial (SYF)	1.2×
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Old Republic International (ORI)	1.0×
Everest Re Group (RE)	0.9×
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Ally Financial (ALLY)	0.8×
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MetLife (MET)	0.6×
Prudential Financial (PRU)	0.5×
StoneX Group (SNEX)	0.0×

P/S Ratio for Upstart Holdings (UPST)

P/S Ratio daily chart for Upstart Holdings (UPST)

Historical P/S Ratio for Upstart Holdings (UPST) from 2020 to 2025

About P/S Ratio at Upstart Holdings (UPST)

Upstart Holdings P/S Ratio by Year

Upstart Holdings P/S Ratio 2025: 4.0×

Upstart Holdings P/S Ratio 2024: 8.4×

Upstart Holdings P/S Ratio 2023: 6.4×

Upstart Holdings P/S Ratio 2022: 1.3×

Upstart Holdings P/S Ratio 2021: 17.5×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Upstart Holdings (UPST) Key Financials

P/S Ratio daily chart for Upstart Holdings (UPST)

Historical P/S Ratio for Upstart Holdings (UPST) from 2020 to 2025

About P/S Ratio at Upstart Holdings (UPST)

Upstart Holdings P/S Ratio by Year

Upstart Holdings P/S Ratio 2025: 4.0×

Upstart Holdings P/S Ratio 2024: 8.4×

Upstart Holdings P/S Ratio 2023: 6.4×

Upstart Holdings P/S Ratio 2022: 1.3×

Upstart Holdings P/S Ratio 2021: 17.5×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is Upstart Holdings's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for Upstart Holdings?

+Is Upstart Holdings's P/S ratio high or low?

+What is Upstart Holdings's historical P/S ratio range?

+What was Upstart Holdings's P/S ratio in 2025?

+Why does Upstart Holdings's P/S ratio change over time?

Upstart Holdings (UPST) Key Financials