Upstart Holdings (FRA:855) Scaled Net Operating Assets: 0.75 (As of Mar. 2026)


FRA:855 Upstart Holdings Inc FRA:855
62 GF Score
Price €27.70
GF Value €50.49
Valuation Possible Value Trap
! 5 Warning Signs
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What is Upstart Holdings Scaled Net Operating Assets?

Upstart Holdings FRA:855 -1.96% 62 Scaled Net Operating Assets is 0.75 as of Mar. 2026. GuruFocus rates FRA:855 with a GF Score™ of 62/100 and a GF Value™ of €50.49 (Possible Value Trap). The stock has 5 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Upstart Holdings's operating assets for the quarter that ended in Mar. 2026 was €2,151.4 Mil. Upstart Holdings's operating liabilities for the quarter that ended in Mar. 2026 was €250.2 Mil. Upstart Holdings's Total Assets for the quarter that ended in Dec. 2025 was €2,540.5 Mil. Therefore, Upstart Holdings's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.75.

FRA:855
62GF Score
Upstart Holdings Inc FRA:855
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Upstart Holdings Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Upstart Holdings's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(1979.025-278.144)/2260.445
=0.75

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=2540.483 - 561.458
=1979.025

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1858.295 - 1497.029 - 83.122
=278.144

Upstart Holdings's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(2151.365-250.245)/2540.483
=0.75

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=2561.854 - 410.489
=2151.365

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1927.665 - 1518.859 - 158.561
=250.245

* 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.

What does a Scaled Net Operating Assets of 0.75 mean?
Upstart Holdings (FRA:855) has a Scaled Net Operating Assets of 0.75 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Upstart Holdings and its competitors.
Is Upstart Holdings' Scaled Net Operating Assets too high?
Upstart Holdings' current Scaled Net Operating Assets is 0.75. Overall, Upstart Holdings has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Upstart Holdings' Scaled Net Operating Assets compare to BFH and WU?
Upstart Holdings' Scaled Net Operating Assets of 0.75 can be compared against companies in the Credit Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Credit Services company?
A good Scaled Net Operating Assets depends on the Credit Services industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Upstart Holdings and its competitors. Upstart Holdings's current Scaled Net Operating Assets is 0.75. 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 (FRA:855) is currently considered Possible Value Trap. The stock's GF Value™ is €50.49, compared to a current price of €27.70 — trading 45.1% below its estimated fair value. The current Scaled Net Operating Assets is 0.75. Upstart Holdings' overall GF Score™ is 62/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Upstart Holdings (FRA:855), the current Scaled Net Operating Assets is 0.75 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 (FRA:855) Overvalued in 2026?

Based on GuruFocus' analysis, Upstart Holdings stock appears to be undervalued. The current stock price of €27.70 is trading 45.1% below its estimated GF Value™ of €50.49. GuruFocus considers Upstart Holdings to be Possible Value Trap.

Key valuation signals for FRA:855:

  • Scaled Net Operating Assets: 0.75
  • GF Value™: €50.49 vs. price of €27.70 (45.1% below fair value)
  • GF Score™: 62/100 with 5 warning signs

No single metric tells the full story. See the FRA:855 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Upstart Holdings Business Description

Address 2950 South Delaware Street, Suite 410, San Mateo, CA, USA, 94403
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).
62GF Score

Get the complete analysis for FRA:855

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€27.70
Price
€50.49
GF Value