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Side-by-side financial comparison of Citi Trends Inc (CTRN) and Upstart Holdings, Inc. (UPST). Click either name above to swap in a different company.
Upstart Holdings, Inc. is the larger business by last-quarter revenue ($296.1M vs $197.1M, roughly 1.5× Citi Trends Inc). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs -3.5%, a 9.8% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 10.1%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $767.0K). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs -4.3%).
Citi Trends, Inc. is an American retail clothing chain selling discounted products targeted primarily at African-American customers.
Upstart is an AI lending platform that partners with banks and credit unions to provide consumer loans using non-traditional variables, such as education and employment, to predict creditworthiness.
CTRN vs UPST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $197.1M | $296.1M |
| Net Profit | $-6.9M | $18.6M |
| Gross Margin | — | — |
| Operating Margin | -3.7% | 6.4% |
| Net Margin | -3.5% | 6.3% |
| Revenue YoY | 10.1% | 35.2% |
| Net Profit YoY | 3.6% | 776.4% |
| EPS (diluted) | $-0.86 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $197.1M | $296.1M | ||
| Q3 25 | $190.8M | $277.1M | ||
| Q2 25 | $201.7M | $257.3M | ||
| Q1 25 | $211.2M | $213.4M | ||
| Q4 24 | $179.1M | $219.0M | ||
| Q3 24 | $176.6M | $162.1M | ||
| Q2 24 | $186.3M | $127.6M | ||
| Q1 24 | $215.2M | $127.8M |
| Q4 25 | $-6.9M | $18.6M | ||
| Q3 25 | $3.8M | $31.8M | ||
| Q2 25 | $871.0K | $5.6M | ||
| Q1 25 | $-14.2M | $-2.4M | ||
| Q4 24 | $-7.2M | $-2.8M | ||
| Q3 24 | $-18.4M | $-6.8M | ||
| Q2 24 | $-3.4M | $-54.5M | ||
| Q1 24 | $3.6M | $-64.6M |
| Q4 25 | -3.7% | 6.4% | ||
| Q3 25 | 1.8% | 8.5% | ||
| Q2 25 | 0.2% | 1.8% | ||
| Q1 25 | 0.6% | -2.1% | ||
| Q4 24 | -4.9% | -2.2% | ||
| Q3 24 | -14.1% | -27.8% | ||
| Q2 24 | -3.7% | -43.5% | ||
| Q1 24 | 1.8% | -52.8% |
| Q4 25 | -3.5% | 6.3% | ||
| Q3 25 | 2.0% | 11.5% | ||
| Q2 25 | 0.4% | 2.2% | ||
| Q1 25 | -6.7% | -1.1% | ||
| Q4 24 | -4.0% | -1.3% | ||
| Q3 24 | -10.4% | -4.2% | ||
| Q2 24 | -1.8% | -42.7% | ||
| Q1 24 | 1.7% | -50.5% |
| Q4 25 | $-0.86 | $0.20 | ||
| Q3 25 | $0.46 | $0.23 | ||
| Q2 25 | $0.11 | $0.05 | ||
| Q1 25 | $-1.70 | $-0.03 | ||
| Q4 24 | $-0.86 | $-0.01 | ||
| Q3 24 | $-2.21 | $-0.07 | ||
| Q2 24 | $-0.42 | $-0.62 | ||
| Q1 24 | $0.43 | $-0.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $652.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $107.8M | $798.8M |
| Total Assets | $464.3M | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $652.4M | ||
| Q3 25 | — | $489.8M | ||
| Q2 25 | — | $395.9M | ||
| Q1 25 | — | $599.8M | ||
| Q4 24 | — | $788.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $107.8M | $798.8M | ||
| Q3 25 | $113.2M | $743.7M | ||
| Q2 25 | $108.6M | $722.0M | ||
| Q1 25 | $113.2M | $676.6M | ||
| Q4 24 | $130.3M | $633.2M | ||
| Q3 24 | $136.6M | $595.5M | ||
| Q2 24 | $154.8M | $594.7M | ||
| Q1 24 | $157.7M | $612.8M |
| Q4 25 | $464.3M | $3.0B | ||
| Q3 25 | $457.4M | $2.9B | ||
| Q2 25 | $437.4M | $2.5B | ||
| Q1 25 | $462.8M | $2.3B | ||
| Q4 24 | $467.1M | $2.4B | ||
| Q3 24 | $506.7M | $1.8B | ||
| Q2 24 | $484.1M | $1.8B | ||
| Q1 24 | $518.7M | $1.9B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $8.6M | $108.6M |
| Free Cash FlowOCF − Capex | $767.0K | $108.4M |
| FCF MarginFCF / Revenue | 0.4% | 36.6% |
| Capex IntensityCapex / Revenue | 4.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $11.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.6M | $108.6M | ||
| Q3 25 | $3.9M | $-122.6M | ||
| Q2 25 | $-11.0M | $-120.2M | ||
| Q1 25 | $28.5M | $-13.5M | ||
| Q4 24 | $-18.4M | $-110.9M | ||
| Q3 24 | $5.6M | $179.3M | ||
| Q2 24 | $-19.6M | $65.3M | ||
| Q1 24 | $23.3M | $52.6M |
| Q4 25 | $767.0K | $108.4M | ||
| Q3 25 | $-1.7M | $-122.7M | ||
| Q2 25 | $-13.1M | $-120.3M | ||
| Q1 25 | $26.0M | — | ||
| Q4 24 | $-20.4M | — | ||
| Q3 24 | $1.7M | $179.2M | ||
| Q2 24 | $-21.2M | $65.3M | ||
| Q1 24 | $20.0M | $51.9M |
| Q4 25 | 0.4% | 36.6% | ||
| Q3 25 | -0.9% | -44.3% | ||
| Q2 25 | -6.5% | -46.7% | ||
| Q1 25 | 12.3% | — | ||
| Q4 24 | -11.4% | — | ||
| Q3 24 | 0.9% | 110.5% | ||
| Q2 24 | -11.4% | 51.1% | ||
| Q1 24 | 9.3% | 40.6% |
| Q4 25 | 4.0% | 0.1% | ||
| Q3 25 | 2.9% | 0.0% | ||
| Q2 25 | 1.0% | 0.0% | ||
| Q1 25 | 1.2% | 0.0% | ||
| Q4 24 | 1.1% | 0.0% | ||
| Q3 24 | 2.2% | 0.1% | ||
| Q2 24 | 0.9% | 0.0% | ||
| Q1 24 | 1.5% | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | 1.01× | -3.86× | ||
| Q2 25 | -12.59× | -21.43× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 6.56× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTRN
Segment breakdown not available.
UPST
| Personal Lending Segment | $201.4M | 68% |
| Servicing Fees Net | $39.5M | 13% |
| Servicing Fees | $27.5M | 9% |
| Other | $15.7M | 5% |
| Borrower Fees | $8.4M | 3% |
| Collection Agency Fees | $3.5M | 1% |
