Upstart price to book ratio UPST

Market value divided by the book value of the company's net assets, since 2021.

Today, Oct 23, 2026: 2.9×
5-year median: 4.7×
Against its 5-year history: 16th; percentile: 0 is its lowest day, 100 its highest
5-year range: 1.5× to 42.4×
Peer median: 2.0×

Upstart's price to book ratio is 2.9× as of Oct 23, 2026.

That is below its 5-year median of 4.7×, lower than on 84% of days in the last 5 years.

Over that time it ranged from 1.5× in Jan 2023 to 42.4× in Oct 2021.

The median for 10 credit services stocks of a similar size is 2.0×.

Price to book ratio over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	2.9×	2.8×	6.4×
2025	6.2×	4.9×	12.2×
2024	10.4×	3.0×	12.9×
2023	5.4×	1.5×	8.6×
2022	1.5×	1.5×	14.2×
2021	17.2×	15.9×	42.4×

Against its peers

Companies in Financial - Credit Services nearest Upstart's size, closest first, today.

Company	Price to book ratio
UPSTUpstart	2.9×
FLYWFlywire	2.9×
PAYOPayoneer Global	3.7×
EEFTEuronet Worldwide	2.0×
AGMFederal Agricultural Mortgage	1.2×
ECPGEncore Capital	1.9×
WUWestern Union CO	2.2×
CBZCBIZ	1.6×
HAPNHappen	1.0×
MMSMaximus	1.9×
PGYPagaya Technologies	2.7×
Peer median	2.0×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Upstart

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.