Upstart price to free cash flow UPST

Market value divided by free cash flow over the last twelve months, since 2022.

Today, Oct 23, 2026: n/m; not a meaningful number
Last meaningful: 62.8×; Aug 2025
5-year median: 41.2×
5-year range: 17.6× to 71.4×
Peer median: 10.0×

Upstart's price to free cash flow is not a meaningful number today: free cash flow over the last twelve months was zero, negative or not reported.

It was last meaningful in Aug 2025, at 62.8×.

On the days it had one over the last 5 years, its median was 41.2×, from 17.6× in Apr 2025 to 71.4× in Feb 2022.

Price to free cash flow over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2025	62.8×	17.6×	66.2×
2024	40.7×	40.7×	50.5×
2023	n/m a value too high to mean anything
2022	44.1×	39.4×	71.4×

Against its peers

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

Company	Price to free cash flow
UPSTUpstart	n/m
FLYWFlywire	14.8×
PAYOPayoneer Global	13.4×
EEFTEuronet Worldwide	9.1×
AGMFederal Agricultural Mortgage	n/m
ECPGEncore Capital	16.6×
WUWestern Union CO	3.5×
CBZCBIZ	10.9×
HAPNHappen	n/m
MMSMaximus	7.6×
PGYPagaya Technologies	6.3×
Peer median	10.0×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

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.