Comprehensive Stock Comparison
Compare Brookfield Finance Inc. 4.625% (BNH) vs Upstart Holdings, Inc. (UPST) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | UPST | 54.2% revenue growth vs BNH's -10.3% |
| Value | UPST | Lower P/E (12.8x vs 76.7x) |
| Quality / Margins | UPST | 5.1% net margin vs BNH's 0.7% |
| Stability / Safety | BNH | Beta 0.20 vs UPST's 2.55 |
| Dividends | BNH | 1.3% yield; 1-year raise streak; UPST pays no meaningful dividend |
| Momentum (1Y) | BNH | -0.1% vs UPST's -59.2% |
| Efficiency (ROA) | UPST | 1.1% ROA vs BNH's 0.2%, ROIC 2.2% vs 3.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Brookfield Finance is a special purpose financing vehicle that issues debt securities to raise capital for its parent company's global investment operations. It generates revenue primarily through interest income from its debt portfolio — essentially borrowing money at one rate and lending it to Brookfield entities at a higher rate. Its key advantage is the backing and credit support from Brookfield Asset Management, which provides investor confidence through the parent company's strong balance sheet and diversified global asset base.
Upstart operates an AI-powered lending platform that connects borrowers with bank partners using machine learning to assess credit risk. It generates revenue primarily from referral fees paid by banks for approved loans — roughly 80% of revenue — and smaller amounts from servicing fees and interest income. Its key advantage is its proprietary AI underwriting model, which analyzes thousands of data points beyond traditional credit scores to identify creditworthy borrowers that conventional models might miss.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
BNH leads in 2 of 6 categories — strongest in Financial Metrics and Risk & Volatility. 3 categories are tied.
Financial Metrics (TTM)
BNH is the larger business by revenue, generating $86.0B annually — 82.4x UPST's $1.0B. Profitability is closely matched — net margins range from 5.1% (UPST) to 0.7% (BNH).
| Metric | BNHBrookfield Financ… | UPSTUpstart Holdings,… |
|---|---|---|
| RevenueTrailing 12 months | $86.0B | $1.0B |
| EBITDAEarnings before interest/tax | $28.0B | $46M |
| Net IncomeAfter-tax profit | $996M | $32M |
| Free Cash FlowCash after capex | -$2.8B | -$374M |
| Gross MarginGross profit ÷ Revenue | +21.0% | — |
| Operating MarginEBIT ÷ Revenue | +20.9% | +4.1% |
| Net MarginNet income ÷ Revenue | +0.7% | +5.1% |
| FCF MarginFCF ÷ Revenue | -4.0% | -14.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | — | +4.1% |
Valuation Metrics
At 60.5x trailing earnings, UPST trades at a 21% valuation discount to BNH's 76.7x P/E.
| Metric | BNHBrookfield Financ… | UPSTUpstart Holdings,… |
|---|---|---|
| Market CapShares × price | — | $2.7B |
| Enterprise ValueMkt cap + debt − cash | — | $2.0B |
| Trailing P/EPrice ÷ TTM EPS | 76.73x | 60.51x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 12.81x |
| PEG RatioP/E ÷ EPS growth rate | — | 4.21x |
| EV / EBITDAEnterprise value multiple | — | 47.31x |
| Price / SalesMarket cap ÷ Revenue | — | 2.56x |
| Price / BookPrice ÷ Book value/share | 0.23x | 3.66x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
UPST delivers a 4.3% return on equity — every $100 of shareholder capital generates $4 in annual profit, vs $1 for BNH. On the Piotroski fundamental quality scale (0–9), BNH scores 6/9 vs UPST's 3/9, reflecting solid financial health.
| Metric | BNHBrookfield Financ… | UPSTUpstart Holdings,… |
|---|---|---|
| ROE (TTM)Return on equity | +0.6% | +4.3% |
| ROA (TTM)Return on assets | +0.2% | +1.1% |
| ROICReturn on invested capital | +3.4% | +2.2% |
| ROCEReturn on capital employed | +4.5% | +1.6% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 3 |
| Debt / EquityFinancial leverage | 1.42x | — |
| Net DebtTotal debt minus cash | $219.7B | -$652M |
| Cash & Equiv.Liquid assets | $15.1B | $652M |
| Total DebtShort + long-term debt | $234.8B | $0 |
| Interest CoverageEBIT ÷ Interest expense | 1.17x | 0.85x |
Total Returns (with DRIP)
A $10,000 investment in BNH five years ago would be worth $9,352 today (with dividends reinvested), compared to $4,086 for UPST. Over the past 12 months, BNH leads with a -0.1% total return vs UPST's -59.2%. The 3-year compound annual growth rate (CAGR) favors UPST at 13.7% vs BNH's 3.7% — a key indicator of consistent wealth creation.
| Metric | BNHBrookfield Financ… | UPSTUpstart Holdings,… |
|---|---|---|
| YTD ReturnYear-to-date | -0.4% | -40.6% |
| 1-Year ReturnPast 12 months | -0.1% | -59.2% |
| 3-Year ReturnCumulative with dividends | +11.5% | +47.1% |
| 5-Year ReturnCumulative with dividends | -6.5% | -59.1% |
| 10-Year ReturnCumulative with dividends | -12.8% | -7.6% |
| CAGR (3Y)Annualised 3-year return | +3.7% | +13.7% |
Risk & Volatility
BNH is the less volatile stock with a 0.20 beta — it tends to amplify market swings less than UPST's 2.55 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. BNH currently trades 92.6% from its 52-week high vs UPST's 31.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BNHBrookfield Financ… | UPSTUpstart Holdings,… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.20x | 2.55x |
| 52-Week HighHighest price in past year | $17.12 | $87.30 |
| 52-Week LowLowest price in past year | $14.50 | $26.80 |
| % of 52W HighCurrent price vs 52-week peak | +92.6% | +31.2% |
| RSI (14)Momentum oscillator 0–100 | 50.3 | 33.9 |
| Avg Volume (50D)Average daily shares traded | 25K | 4.2M |
Analyst Outlook
BNH is the only dividend payer here at 1.31% yield — a key consideration for income-focused portfolios.
| Metric | BNHBrookfield Financ… | UPSTUpstart Holdings,… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | — | $45.17 |
| # AnalystsCovering analysts | — | 22 |
| Dividend YieldAnnual dividend ÷ price | +1.3% | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | $0.21 | — |
| Buyback YieldShare repurchases ÷ mkt cap | — | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jan 21 | Feb 26 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | 100 | 62.54 | -37.5% |
| Upstart Holdings, I… (UPST) | 149.27 | 134.68 | -9.8% |
Brookfield Finance … (BNH) returned -6% over 5 years vs Upstart Holdings, I… (UPST)'s -59%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | $24.4B | $86.0B | +252.3% |
| Upstart Holdings, I… (UPST) | $96M | $1.0B | +992.1% |
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | 6.8% | 0.7% | -89.0% |
| Upstart Holdings, I… (UPST) | -12.9% | 5.1% | +139.8% |
Chart 4P/E Ratio History — 6 Years
| Stock | 2020 | 2025 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | 15.8 | 80.9 | +412.0% |
| Upstart Holdings, I… (UPST) | 177.2 | 97.2 | -45.1% |
Brookfield Finance Inc. 4.625% has traded in a 16x–81x P/E range over 4 years; current trailing P/E is ~77x. Upstart Holdings, Inc. has traded in a 97x–177x P/E range over 3 years; current trailing P/E is ~61x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Brookfield Finance … (BNH) | 0.69 | 0.21 | -69.9% |
| Upstart Holdings, I… (UPST) | -0.87 | 0.45 | +151.7% |
Chart 6Free Cash Flow — 5 Years
Brookfield Finance Inc. 4.625% generated $-3B FCF in 2024 (-448% vs 2021). Upstart Holdings, Inc. generated $-148M FCF in 2025 (-196% vs 2021).
BNH vs UPST: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is BNH or UPST a better buy right now?
Upstart Holdings, Inc. (UPST) offers the better valuation at 60.5x trailing P/E (12.8x forward), making it the more compelling value choice. Analysts rate Upstart Holdings, Inc. (UPST) a "Hold" — based on 22 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BNH or UPST?
On trailing P/E, Upstart Holdings, Inc. (UPST) is the cheapest at 60.5x versus Brookfield Finance Inc. 4.625% at 76.7x.
03Which is the better long-term investment — BNH or UPST?
Over the past 5 years, Brookfield Finance Inc. 4.625% (BNH) delivered a total return of -6.5%, compared to -59.1% for Upstart Holdings, Inc. (UPST). A $10,000 investment in BNH five years ago would be worth approximately $9K today (assuming dividends reinvested). Over 10 years, the gap is even starker: UPST returned -7.6% versus BNH's -12.8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BNH or UPST?
By beta (market sensitivity over 5 years), Brookfield Finance Inc. 4.625% (BNH) is the lower-risk stock at 0.20β versus Upstart Holdings, Inc.'s 2.55β — meaning UPST is approximately 1176% more volatile than BNH relative to the S&P 500.
05Which has better profit margins — BNH or UPST?
Upstart Holdings, Inc. (UPST) is the more profitable company, earning 5.1% net margin versus 0.7% for Brookfield Finance Inc. 4.625% — meaning it keeps 5.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BNH leads at 20.9% versus 4.1% for UPST. At the gross margin level — before operating expenses — BNH leads at 21.0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — BNH or UPST?
In this comparison, BNH (1.3% yield) pays a dividend. UPST does not pay a meaningful dividend and should not be held primarily for income.
07Is BNH or UPST better for a retirement portfolio?
For long-horizon retirement investors, Brookfield Finance Inc. 4.625% (BNH) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.20), 1.3% yield). Upstart Holdings, Inc. (UPST) carries a higher beta of 2.55 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BNH: -12.8%, UPST: -7.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between BNH and UPST?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. BNH pays a dividend while UPST does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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