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Side-by-side financial comparison of Commercial Vehicle Group, Inc. (CVGI) 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 $154.8M, roughly 1.9× Commercial Vehicle Group, Inc.). On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs -5.2%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $8.7M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs -10.8%).
WABCO Holdings, Inc. was a U.S.-based provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. In 2007, the Vehicle Control Systems was spun off as WABCO Holdings Inc., an American provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. Their products are present in many commercial vehicles such as trucks, buses, trailers and off-highway vehicles but they ...
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.
CVGI vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $154.8M | $296.1M |
| Net Profit | — | $18.6M |
| Gross Margin | 9.7% | — |
| Operating Margin | -1.2% | 6.4% |
| Net Margin | — | 6.3% |
| Revenue YoY | -5.2% | 35.2% |
| Net Profit YoY | — | 776.4% |
| EPS (diluted) | — | $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 | $154.8M | $296.1M | ||
| Q3 25 | $152.5M | $277.1M | ||
| Q2 25 | $172.0M | $257.3M | ||
| Q1 25 | $169.8M | $213.4M | ||
| Q4 24 | $163.3M | $219.0M | ||
| Q3 24 | $171.8M | $162.1M | ||
| Q2 24 | $193.7M | $127.6M | ||
| Q1 24 | $194.6M | $127.8M |
| Q4 25 | — | $18.6M | ||
| Q3 25 | $-7.1M | $31.8M | ||
| Q2 25 | $-4.8M | $5.6M | ||
| Q1 25 | $-4.3M | $-2.4M | ||
| Q4 24 | — | $-2.8M | ||
| Q3 24 | $9.5M | $-6.8M | ||
| Q2 24 | $-1.6M | $-54.5M | ||
| Q1 24 | $2.9M | $-64.6M |
| Q4 25 | 9.7% | — | ||
| Q3 25 | 10.5% | — | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 10.5% | — | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 9.6% | — | ||
| Q2 24 | 10.6% | — | ||
| Q1 24 | 11.9% | — |
| Q4 25 | -1.2% | 6.4% | ||
| Q3 25 | -0.7% | 8.5% | ||
| Q2 25 | 0.5% | 1.8% | ||
| Q1 25 | 0.8% | -2.1% | ||
| Q4 24 | -3.2% | -2.2% | ||
| Q3 24 | -0.6% | -27.8% | ||
| Q2 24 | 0.5% | -43.5% | ||
| Q1 24 | 2.3% | -52.8% |
| Q4 25 | — | 6.3% | ||
| Q3 25 | -4.6% | 11.5% | ||
| Q2 25 | -2.8% | 2.2% | ||
| Q1 25 | -2.5% | -1.1% | ||
| Q4 24 | — | -1.3% | ||
| Q3 24 | 5.5% | -4.2% | ||
| Q2 24 | -0.8% | -42.7% | ||
| Q1 24 | 1.5% | -50.5% |
| Q4 25 | — | $0.20 | ||
| Q3 25 | — | $0.23 | ||
| Q2 25 | — | $0.05 | ||
| Q1 25 | — | $-0.03 | ||
| Q4 24 | — | $-0.01 | ||
| Q3 24 | — | $-0.07 | ||
| Q2 24 | $-0.05 | $-0.62 | ||
| Q1 24 | $0.09 | $-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 | $104.9M | — |
| Stockholders' EquityBook value | $133.4M | $798.8M |
| Total Assets | $391.7M | $3.0B |
| Debt / EquityLower = less leverage | 0.79× | — |
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 | $104.9M | — | ||
| Q3 25 | $108.2M | — | ||
| Q2 25 | $118.2M | — | ||
| Q1 25 | $117.4M | — | ||
| Q4 24 | $135.5M | — | ||
| Q3 24 | $128.8M | — | ||
| Q2 24 | $142.0M | — | ||
| Q1 24 | $155.7M | — |
| Q4 25 | $133.4M | $798.8M | ||
| Q3 25 | $136.5M | $743.7M | ||
| Q2 25 | $142.6M | $722.0M | ||
| Q1 25 | $136.7M | $676.6M | ||
| Q4 24 | $135.6M | $633.2M | ||
| Q3 24 | $179.3M | $595.5M | ||
| Q2 24 | $169.6M | $594.7M | ||
| Q1 24 | $175.5M | $612.8M |
| Q4 25 | $391.7M | $3.0B | ||
| Q3 25 | $400.3M | $2.9B | ||
| Q2 25 | $429.8M | $2.5B | ||
| Q1 25 | $419.8M | $2.3B | ||
| Q4 24 | $424.6M | $2.4B | ||
| Q3 24 | $495.3M | $1.8B | ||
| Q2 24 | $503.2M | $1.8B | ||
| Q1 24 | $509.2M | $1.9B |
| Q4 25 | 0.79× | — | ||
| Q3 25 | 0.79× | — | ||
| Q2 25 | 0.83× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 1.00× | — | ||
| Q3 24 | 0.72× | — | ||
| Q2 24 | 0.84× | — | ||
| Q1 24 | 0.89× | — |
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 | $12.3M | $108.6M |
| Free Cash FlowOCF − Capex | $8.7M | $108.4M |
| FCF MarginFCF / Revenue | 5.6% | 36.6% |
| Capex IntensityCapex / Revenue | 2.3% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $34.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $108.6M | ||
| Q3 25 | $-1.7M | $-122.6M | ||
| Q2 25 | $18.9M | $-120.2M | ||
| Q1 25 | $15.2M | $-13.5M | ||
| Q4 24 | $-26.6M | $-110.9M | ||
| Q3 24 | $-17.1M | $179.3M | ||
| Q2 24 | $12.6M | $65.3M | ||
| Q1 24 | $-2.4M | $52.6M |
| Q4 25 | $8.7M | $108.4M | ||
| Q3 25 | $-3.5M | $-122.7M | ||
| Q2 25 | $17.4M | $-120.3M | ||
| Q1 25 | $11.4M | — | ||
| Q4 24 | $-30.6M | — | ||
| Q3 24 | $-20.3M | $179.2M | ||
| Q2 24 | $6.4M | $65.3M | ||
| Q1 24 | $-7.4M | $51.9M |
| Q4 25 | 5.6% | 36.6% | ||
| Q3 25 | -2.3% | -44.3% | ||
| Q2 25 | 10.1% | -46.7% | ||
| Q1 25 | 6.7% | — | ||
| Q4 24 | -18.7% | — | ||
| Q3 24 | -11.8% | 110.5% | ||
| Q2 24 | 3.3% | 51.1% | ||
| Q1 24 | -3.8% | 40.6% |
| Q4 25 | 2.3% | 0.1% | ||
| Q3 25 | 1.2% | 0.0% | ||
| Q2 25 | 0.9% | 0.0% | ||
| Q1 25 | 2.2% | 0.0% | ||
| Q4 24 | 2.4% | 0.0% | ||
| Q3 24 | 1.9% | 0.1% | ||
| Q2 24 | 3.2% | 0.0% | ||
| Q1 24 | 2.6% | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | — | -3.86× | ||
| Q2 25 | — | -21.43× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -1.79× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.80× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVGI
| Global Seating | $70.7M | 46% |
| Global Electrical Systems | $49.7M | 32% |
| Trim Systems And Components | $34.4M | 22% |
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% |
