Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Upstart HoldingsUPST +4.21%59 Equity-to-Asset is 0.25 as of Mar. 2026, which is 24% below its 10-year median of 0.33. GuruFocus rates UPST with a GF Score™ of 59/100 and a GF Value™ of $64.43 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 548 Credit Services companies, Upstart Holdings ranks worse than 62.04% on this metric.
Equity to Asset ratio is calculated as total stockholders equity divided by total asset. Upstart Holdings's Total Stockholders Equity for the quarter that ended in Mar. 2026 was $733 Mil. Upstart Holdings's Total Assets for the quarter that ended in Mar. 2026 was $2,962 Mil.
Therefore, Upstart Holdings's Equity to Asset Ratio for the quarter that ended in Mar. 2026 was 0.25.
The historical rank and industry rank for Upstart Holdings's Equity-to-Asset or its related term are showing as below:
UPST'
s Equity-to-Asset Range Over the Past 10 Years
Min: -0.16 Med: 0.33 Max: 0.79
Current: 0.25
During the past 9 years, the highest Equity to Asset Ratio of Upstart Holdings was 0.79. The lowest was -0.16. And the median was 0.33.
UPST's Equity-to-Asset is ranked worse than 62.04% of 548
companies
in the Credit Services industry
Industry Median: 0.4
vs UPST: 0.25
Equity to Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity to Asset ratio (more leveraged) may have higher ROE % because of the leverage.
For banks, the required minimum Equity to Asset ratio by regulation is 5%. Some stronger banks may have Equity to Asset Ratio of more than 10%.
Upstart Holdings Equity-to-Asset Related Terms
Upstart Holdings Equity-to-Asset Historical Data
* Premium members only.
The historical data trend for Upstart Holdings's Equity-to-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
UPST vs WU, AGM.A, ECPG: Equity-to-Asset Comparison
For the Credit Services subindustry, Upstart Holdings's Equity-to-Asset, along with its competitors' market caps and Equity-to-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Upstart Holdings Equity-to-Asset vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Upstart Holdings's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Upstart Holdings's Equity-to-Asset falls into.
Equity to Asset ratio measures the ratios of the portion of the asset owned by shareholders out of the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Equity to Asset ratio is calculated by dividing total stockholders equity by total asset.
Upstart Holdings's Equity to Asset Ratio for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Upstart Holdings (UPST) has a Equity-to-Asset of 0.25 as of Mar. 2026. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Upstart Holdings and its competitors. This is 24% below median its historical median of 0.33. According to the industry distribution chart, Upstart Holdings ranks #340 out of 548 companies in the Credit Services industry, placing it in the top 62%.
Is Upstart Holdings' Equity-to-Asset too high?
Upstart Holdings' current Equity-to-Asset of 0.25 is 24% below median its 10-year median of 0.33. The Credit Services industry median Equity-to-Asset is 0.40. Upstart Holdings' value of 0.25 is 37.5% below this industry median. Based on the distribution chart, Upstart Holdings ranks #340 out of 548 companies in the Credit Services industry, which is below the industry midpoint. Overall, Upstart Holdings has a GF Score™ of 59/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Upstart Holdings' Equity-to-Asset compare to WU and AGM.A?
According to the Credit Services industry distribution chart, Upstart Holdings ranks #340 out of 548 companies for Equity-to-Asset. This places Upstart Holdings in the lower half of its industry. The industry median Equity-to-Asset is 0.40. Upstart Holdings' value of 0.25 is 37.5% below this benchmark. While the company's 10-year median is 0.33 vs. the industry median of 0.40, Upstart Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Equity-to-Asset for a Credit Services company?
The median Equity-to-Asset among Credit Services companies is 0.40, based on 548 companies in the industry. Companies in the top quartile (top 25%) have a Equity-to-Asset significantly above this median, while those in the bottom quartile fall well below. However, Equity-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Upstart Holdings's current Equity-to-Asset of 0.25 is 37.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Equity-to-Asset mean?
A high Equity-to-Asset can signal that a stock is expensive relative to its fundamentals. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Upstart Holdings and its competitors. For the Credit Services industry, the median Equity-to-Asset is 0.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Upstart Holdings's current Equity-to-Asset is 0.25, which is 24% below median its own 10-year median of 0.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Upstart Holdings stock overvalued right now?
Based on GuruFocus' analysis, Upstart Holdings (UPST) is currently considered Possible Value Trap. The stock's GF Value™ is $64.43, compared to a current price of $30.67 — trading 52.4% below its estimated fair value. The current Equity-to-Asset is 0.25, which is 24% below median its 10-year median of 0.33 and 37.5% below the Credit Services industry median of 0.40. Upstart Holdings' overall GF Score™ is 59/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Equity-to-Asset calculated?
Equity-to-Asset is calculated from a company's financial statements. For Upstart Holdings (UPST), the current Equity-to-Asset is 0.25 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Upstart Holdings (UPST) Overvalued in 2026?
Based on GuruFocus' analysis, Upstart Holdings stock appears to be undervalued.
The current stock price of $30.67 is trading 52.4% below its estimated GF Value™ of $64.43.
GuruFocus considers Upstart Holdings to be Possible Value Trap.
Key valuation signals for UPST:
Equity-to-Asset: 0.25 (24% below median its 10-year median of 0.33)
GF Value™: $64.43 vs. price of $30.67 (52.4% below fair value)
Industry Position: 37.5% below the Credit Services median (#340 of 548)
No single metric tells the full story. See the UPST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Upstart Holdings Inc provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. The company support development of different lending product offerings, which are grouped into three operating segments - Personal Lending (unsecured personal loans and small dollar loans), Auto Lending (auto refinance, auto retail loans, and auto secured personal loans), and Other (HELOCs and other).
59GF Score
Get the complete analysis for UPST
Equity-to-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
UPST has been successfully added to your 
