Upstart Holdings, Inc. (UPST) P/E Ratio History
Historical price-to-earnings valuation from 2020 to 2025
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Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of February 28, 2026, Upstart Holdings, Inc. (UPST) trades at a price-to-earnings ratio of 60.5x, with a stock price of $27.23 and trailing twelve-month earnings per share of $0.29.
The current P/E is 66% below its 5-year average of 179.7x. Over the past five years, UPST's P/E has ranged from a low of 35.9x to a high of 376.9x, placing the current valuation at the 13th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.8x, UPST trades at a 339% premium to its sector peers. The sector includes 789 companies with P/E ratios ranging from 0.0x to 196.2x.
The PEG ratio of 4.21 (P/E divided by 131% EPS growth) suggests the stock may be expensive relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, UPST commands a significant premium over the S&P 500 median P/E of 26.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our UPST DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
Peer Comparison
P/E metrics vs. Credit Servicing and Structured Finance peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
KKRSKKR Group Finance Co. IX LLC 4. | $16B | 3.3 | - | +29% |
CGABLThe Carlyle Group Inc. 4.625% Subordinated Notes due 2061 | $6B | 6.4 | - | +265%Best |
UPSTUpstart Holdings, Inc. | $3B | 60.5 | 4.21 | +131% |
AGMFederal Agricultural Mortgage Corporation | $1B | 9.5 | 0.63 | +1% |
YRDYiren Digital Ltd. | $673M | 0.7Lowest | 0.09Best | -22% |
NRDSNerdWallet, Inc. | $344M | 17.0 | 0.33 | +64% |
FOAFinance Of America Companies Inc. | $232 | 16.4 | - | +112% |
BNHBrookfield Finance Inc. 4.625% | - | 76.7 | - | -49% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
Historical P/E Data
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q3 | $50.80 | $0.23 | 222.2x | +24% | |
| FY2022 Q2 | $31.62 | $0.88 | 35.9x | -80% | |
| FY2022 Q1 | $109.09 | $1.63 | 66.9x | -63% | |
| FY2021 Q4 | Fri Dec 31 2021 00:00:00 GM | $151.30 | $1.40 | 108.1x | -40% |
| FY2021 Q3 | $316.44 | $0.84 | 376.9x | +110% | |
| FY2021 Q2 | Wed Jun 30 2021 00:00:00 GM | $124.90 | $0.64 | 195.7x | +9% |
| FY2021 Q1 | Wed Mar 31 2021 00:00:00 GM | $128.86 | $0.35 | 370.0x | +106% |
| FY2020 Q4 | $40.75 | $0.66 | 61.9x | -66% |
Average P/E for displayed period: 179.7x
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Start ComparisonFrequently Asked Questions
Is UPST stock overvalued or undervalued?
UPST trades at 60.5x P/E, below its 5-year average of 179.7x. At the 13th percentile of historical range, the stock is priced at a discount to its own history.
How does UPST's valuation compare to peers?
Upstart Holdings, Inc. P/E of 60.5x compares to sector median of 13.8x. The premium reflects expected growth above peers.
What is UPST's PEG ratio?
UPST PEG ratio is 4.21. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2020-2025.