Upstart Holdings, Inc. (UPST)财务
NASDAQ · Financial Services · Financial - Credit Services · 员工1,405人 · CEO Paul Gu
- 股价
- $19.65
- 市值
- $19.3亿
- 企业价值
- $35.9亿 数据截至 2026-11-14
- 最近财报
- Q3 '26 2026-11-03提交
- 下次财报
- 2027-02-09
营收(TTM)$13.8亿+38.7% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)5.7%+2.4 百分点 对比去年同期营业利润 $7860万
净利润(TTM)$6510万+102.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)-$2.04亿+47.1% 对比去年同期资本支出 $2260万
稀释EPS(TTM)$0.59+137.9% 对比去年同期最近4个季度之和
净现金-$16.5亿-17.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $19.3亿 27m 前更新
- 营收
- $13.8亿 过去12个月
- 营收增速
- +26% FY2026年一致预期
- 净利润率
- 4.7% 净利润 / 营收,TTM
- P/E
- 29.6× 预期 47.0×(FY2026)
- P/S
- 1.4× 股价 / 营收,TTM
- EV / EBITDA
- 34.4× TTM
- 自由现金流
- -$2.04亿 过去12个月
- 净利润
- $6510万 过去12个月
- 营收预期
- $13.6亿 FY2026年一致预期
- 盈利
- 2027-02-09 营收预估 $3.11亿 · 27m 前更新
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 营收增长放缓:同比34.1%Q3 '26营收$3.83亿,此前四个季度的平均值为46.6%。
- 营业利润率5.7%(TTM),较去年同期+2.4 百分点营收增长38.7%,营业利润增长141.8%。
- 税前利润的17.4%被营业外亏损吞噬税前利润$6700万,营业利润$7860万(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的1.6%(去年为1.8%)最近4个季度投入$2260万(同比+26.2%)。自由现金流-$2.04亿,相当于净利润的-312.9%。
- 稀释股数一年内增加14.3%Q3 '26稀释股数1.25亿,一年前为1.1亿。
- 净债务 $16.5亿现金 + 短期投资 $4.61亿,含租赁债务 $21.1亿;一年前净债务 $14亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $3.83亿 | $2.86亿 | +34.1% |
| 毛利率 | 100.0% | 96.9% | +3.1 百分点 |
| 营业利润 | $4890万 | $3190万 | +53.1% |
| 营业利润率 | 12.7% | 11.2% | +1.6 百分点 |
| 净利润 | $3660万 | $3180万 | +15.0% |
| 稀释EPS | $0.33 | $0.25 | +32.0% |
| 经营现金流 | -$1980万 | -$1.23亿 | +83.9% |
| 资本支出 | $543万 | $396万 | +37.1% |
| 自由现金流 | -$2520万 | -$1.27亿 | +80.1% |
| R&D | $9270万 | $0 | – |
| 股权激励费用 | $4000万 | $3420万 | +17.0% |
营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- -$1.81亿
- 资本支出
- -$2260万
- 股票回购
- -$1亿
- 股息
- $0
- 收购
- $0
- 债务净发行
- $1.5亿
- 股权激励费用
- $1.52亿
- 自由现金流
- -$2.04亿
- 股东回报 / FCF
- -49.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 29.6× | 82.8× 5年中的2年 | 78.1× – 87.5× |
| EV / EBITDA | 34.4× | 75.2× 5年中的2年 | 68.1× – 82.2× |
| EV / 营收 | 2.6× | 7.5× | 2.0× – 13.7× |
| 股价 / FCF | -9.5× | 54.2× 5年中的2年 | 31.2× – 77.1× |
| 股价 / 净资产 | 2.2× | 7.1× | 1.6× – 14.6× |
| FCF收益率 | -10.5% | -13.1% | -62.2% – 3.2% |
| 投入资本回报率 | 2.5% | -2.9% | -12.3% – 7.7% |
| 净资产收益率 | 8.1% | -10.2% | -37.8% – 16.8% |
分析师
一致目标价 $34.22 (+74.9%)
区间 $18.00 – $51.00 · 评级 Buy
强烈买入0
买入10
持有10
卖出2
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $13.6亿 | +26.2% | $0.42 | -7.1% | 47.0× | 6 |
| FY2027 | $17.5亿 | +29.2% | $1.45 | +248.0% | 13.5× | 6 |
| FY2028 | $22.3亿 | +27.2% | $2.51 | +72.3% | 7.8× | 9 |
| FY2029 | $35.7亿 | +60.2% | $5.85 | +133.4% | 3.4× | 3 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Upstart Holdings, Inc.在近期10-Q / 10-K文件中标记的全部230项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable | $2270万 | $1180万 | +92.9% | $3200万 | $1240万 | +158.3% |
| Accrued Fees and Other Revenue Receivable | $5340万 | $4350万 | +22.7% | $4660万 | $4820万 | -3.3% |
| Accrued Liabilities | $6550万 | $4000万 | +63.6% | $6820万 | $3780万 | +80.6% |
| Accrued Liabilities and Other Liabilities | $1.71亿 | $1.16亿 | +47.2% | $1.71亿 | $1.34亿 | +28.2% |
| 物业、厂房及设备累计折旧 | $9630万 | $7240万 | +33.0% | $7840万 | $5540万 | +41.6% |
| Additional Paid in Capital | $12亿 | $11.2亿 | +7.0% | $11.6亿 | $10.4亿 | +10.7% |
| Amortization | – | – | – | $0 | $0 | – |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 551万 | 1640万 | -66.4% | 1880万 | 3050万 | -38.3% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $4190万 | $3620万 | +16.0% | $1.41亿 | $1.38亿 | +2.6% |
| 总资产 | $33.4亿 | $29亿 | +14.9% | $29.7亿 | $23.7亿 | +25.7% |
| Assets, Fair Value Disclosure | $18.8亿 | $17.8亿 | +5.7% | $16.3亿 | $10.9亿 | +49.6% |
| Beneficial Interest Liability | $2060万 | $1320万 | +55.8% | $508万 | $1010万 | -49.7% |
| Capitalized Computer Software, Impairments | $02026-03-31 | $0 | – | $0 | $0 | – |
| Capitalized Computer Software, Net | $4020万2026-03-31 | $3520万 | +14.2% | $3850万 | $3100万 | +24.2% |
| Capitalized Contract Cost, Amortization | – | – | – | $0 | $320万 | -100.0% |
| Capitalized Contract Cost, Net | $02025-12-31 | $250万 | -100.0% | $0 | $250万 | -100.0% |
| 现金及现金等价物 | $4.61亿 | $4.9亿 | -5.8% | $6.52亿 | $7.88亿 | -17.3% |
| 现金、现金等价物及受限现金 | $11.3亿 | $8.37亿 | +34.8% | $10.6亿 | $9.76亿 | +8.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $1.46亿 | $1.35亿 | +7.9% | $8070万 | $5.08亿 | -84.1% |
| Common Stock, Capital Shares Reserved for Future Issuance | 2490万 | 2730万 | -8.8% | 2650万 | 2550万 | +4.1% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| 法定普通股 | 7亿 | 7亿 | 0.0% | 7亿 | 7亿 | 0.0% |
| 已发行普通股 | 9890万 | 9730万 | +1.7% | 9800万 | 9350万 | +4.9% |
| 流通在外普通股 | 9890万 | 9730万 | +1.7% | 9800万 | 9350万 | +4.9% |
| 普通股面值 | $1万 | $1万 | 0.0% | $1万 | $9000 | +11.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Current Income Tax Expense (Benefit) | – | – | – | $72.8万 | $18.5万 | +293.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $72.8万 | $18.5万 | +293.5% |
| Debt Instrument, Unamortized Discount | $2680万 | $3330万 | -19.3% | $3160万 | $2380万 | +32.8% |
| Debt, Long-term and Short-term, Combined Amount | $20.3亿 | $18.6亿 | +9.2% | $18.3亿 | $14亿 | +30.5% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $0 | $0 | – |
| Deferred Tax Assets, Goodwill and Intangible Assets | $32.2万2025-12-31 | $61.2万 | -47.4% | $32.2万 | $61.2万 | -47.4% |
| Deferred Tax Assets, Gross | $5.51亿2025-12-31 | $5.36亿 | +2.8% | $5.51亿 | $5.36亿 | +2.8% |
| Deferred Tax Assets, in Process Research and Development | $6520万2025-12-31 | $8460万 | -22.9% | $6520万 | $8460万 | -22.9% |
| Deferred Tax Assets, Net | $02025-12-31 | $0 | – | $0 | $0 | – |
| Deferred Tax Assets, Net of Valuation Allowance | $1950万2025-12-31 | $2710万 | -28.2% | $1950万 | $2710万 | -28.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $3.57亿2025-12-31 | $3.46亿 | +3.2% | $3.57亿 | $3.46亿 | +3.2% |
| Deferred Tax Assets, Other | $28.8万2025-12-31 | $40.2万 | -28.4% | $28.8万 | $40.2万 | -28.4% |
| Deferred Tax Assets, Tax Credit Carryforwards, Research | $6930万2025-12-31 | $5670万 | +22.3% | $6930万 | $5670万 | +22.3% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $1060万2025-12-31 | $1220万 | -13.3% | $1060万 | $1220万 | -13.3% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $1880万2025-12-31 | $1950万 | -3.6% | $1880万 | $1950万 | -3.6% |
| Deferred Tax Assets, Valuation Allowance | $5.32亿2025-12-31 | $5.09亿 | +4.5% | $5.32亿 | $5.09亿 | +4.5% |
| Deferred Tax Liabilities, Gross | $1950万2025-12-31 | $2710万 | -28.2% | $1950万 | $2710万 | -28.2% |
| Deferred Tax Liabilities, Intangible Assets | $214万2025-12-31 | $273万 | -21.7% | $214万 | $273万 | -21.7% |
| Deferred Tax Liabilities, Investments | $02025-12-31 | $24.2万 | -100.0% | $0 | $24.2万 | -100.0% |
| Deferred Tax Liabilities, Leasing Arrangements | $423万2025-12-31 | $1260万 | -66.4% | $423万 | $1260万 | -66.4% |
| Deferred Tax Liabilities, Mortgage Servicing Rights | $944万2025-12-31 | $761万 | +24.0% | $944万 | $761万 | +24.0% |
| Deferred Tax Liabilities, Other | $7.8万2025-12-31 | $31.9万 | -75.5% | $7.8万 | $31.9万 | -75.5% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $78.4万2025-12-31 | $118万 | -33.7% | $78.4万 | $118万 | -33.7% |
| Deposits Assets | $163万 | $510万 | -68.1% | $506万 | $519万 | -2.5% |
| 折旧 | $0 | $0 | – | $2370万 | $1860万 | +27.4% |
| 折旧、损耗及摊销 | $612万 | $613万 | -0.2% | $2480万 | $2050万 | +20.9% |
| Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities | $486万 | -$666万 | +173.0% | – | – | – |
| Dividend Income, Operating | $0 | – | – | – | – | – |
| 基本每股收益 | $0.37 | $0.33 | +12.1% | $0.56 | -$1.44 | +138.9% |
| 稀释每股收益 | $0.33 | $0.23 | +43.5% | $0.45 | -$1.44 | +131.3% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $1140万 | -$2700万 | +142.3% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-14