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Side-by-side financial comparison of DIODES INC (DIOD) and Upstart Holdings, Inc. (UPST). Click either name above to swap in a different company.
DIODES INC is the larger business by last-quarter revenue ($391.6M vs $296.1M, roughly 1.3× Upstart Holdings, Inc.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs 2.6%, a 3.7% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 15.4%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $12.4M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 13.9%).
Diodes Incorporated is a global semiconductor manufacturer that designs, produces and supplies discrete, analog and mixed-signal semiconductor products. Its solutions serve key end markets including automotive, industrial, consumer electronics, personal computing and communications infrastructure, with a worldwide customer base.
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.
DIOD vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $391.6M | $296.1M |
| Net Profit | $10.2M | $18.6M |
| Gross Margin | 31.1% | — |
| Operating Margin | 3.4% | 6.4% |
| Net Margin | 2.6% | 6.3% |
| Revenue YoY | 15.4% | 35.2% |
| Net Profit YoY | 23.8% | 776.4% |
| EPS (diluted) | $0.23 | $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 | $391.6M | $296.1M | ||
| Q3 25 | $392.2M | $277.1M | ||
| Q2 25 | $366.2M | $257.3M | ||
| Q1 25 | $332.1M | $213.4M | ||
| Q4 24 | $339.3M | $219.0M | ||
| Q3 24 | $350.1M | $162.1M | ||
| Q2 24 | $319.8M | $127.6M | ||
| Q1 24 | $302.0M | $127.8M |
| Q4 25 | $10.2M | $18.6M | ||
| Q3 25 | $14.3M | $31.8M | ||
| Q2 25 | $46.1M | $5.6M | ||
| Q1 25 | $-4.4M | $-2.4M | ||
| Q4 24 | $8.2M | $-2.8M | ||
| Q3 24 | $13.7M | $-6.8M | ||
| Q2 24 | $8.0M | $-54.5M | ||
| Q1 24 | $14.0M | $-64.6M |
| Q4 25 | 31.1% | — | ||
| Q3 25 | 30.7% | — | ||
| Q2 25 | 31.5% | — | ||
| Q1 25 | 31.5% | — | ||
| Q4 24 | 32.7% | — | ||
| Q3 24 | 33.7% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 33.0% | — |
| Q4 25 | 3.4% | 6.4% | ||
| Q3 25 | 3.0% | 8.5% | ||
| Q2 25 | 2.6% | 1.8% | ||
| Q1 25 | 0.4% | -2.1% | ||
| Q4 24 | 3.5% | -2.2% | ||
| Q3 24 | 6.2% | -27.8% | ||
| Q2 24 | 1.2% | -43.5% | ||
| Q1 24 | 4.3% | -52.8% |
| Q4 25 | 2.6% | 6.3% | ||
| Q3 25 | 3.6% | 11.5% | ||
| Q2 25 | 12.6% | 2.2% | ||
| Q1 25 | -1.3% | -1.1% | ||
| Q4 24 | 2.4% | -1.3% | ||
| Q3 24 | 3.9% | -4.2% | ||
| Q2 24 | 2.5% | -42.7% | ||
| Q1 24 | 4.6% | -50.5% |
| Q4 25 | $0.23 | $0.20 | ||
| Q3 25 | $0.31 | $0.23 | ||
| Q2 25 | $0.99 | $0.05 | ||
| Q1 25 | $-0.10 | $-0.03 | ||
| Q4 24 | $0.18 | $-0.01 | ||
| Q3 24 | $0.30 | $-0.07 | ||
| Q2 24 | $0.17 | $-0.62 | ||
| Q1 24 | $0.30 | $-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 | $377.0M | $652.4M |
| Total DebtLower is stronger | $25.7M | — |
| Stockholders' EquityBook value | $1.9B | $798.8M |
| Total Assets | $2.4B | $3.0B |
| Debt / EquityLower = less leverage | 0.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $377.0M | $652.4M | ||
| Q3 25 | $386.4M | $489.8M | ||
| Q2 25 | $327.3M | $395.9M | ||
| Q1 25 | $343.9M | $599.8M | ||
| Q4 24 | $316.1M | $788.4M | ||
| Q3 24 | $319.3M | — | ||
| Q2 24 | $273.9M | — | ||
| Q1 24 | $276.0M | — |
| Q4 25 | $25.7M | — | ||
| Q3 25 | $24.9M | — | ||
| Q2 25 | $26.4M | — | ||
| Q1 25 | $20.5M | — | ||
| Q4 24 | $20.7M | — | ||
| Q3 24 | $22.2M | — | ||
| Q2 24 | $20.3M | — | ||
| Q1 24 | $20.9M | — |
| Q4 25 | $1.9B | $798.8M | ||
| Q3 25 | $1.9B | $743.7M | ||
| Q2 25 | $1.9B | $722.0M | ||
| Q1 25 | $1.8B | $676.6M | ||
| Q4 24 | $1.8B | $633.2M | ||
| Q3 24 | $1.8B | $595.5M | ||
| Q2 24 | $1.8B | $594.7M | ||
| Q1 24 | $1.7B | $612.8M |
| Q4 25 | $2.4B | $3.0B | ||
| Q3 25 | $2.5B | $2.9B | ||
| Q2 25 | $2.5B | $2.5B | ||
| Q1 25 | $2.4B | $2.3B | ||
| Q4 24 | $2.4B | $2.4B | ||
| Q3 24 | $2.4B | $1.8B | ||
| Q2 24 | $2.4B | $1.8B | ||
| Q1 24 | $2.4B | $1.9B |
| Q4 25 | 0.01× | — | ||
| Q3 25 | 0.01× | — | ||
| Q2 25 | 0.01× | — | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | 0.01× | — | ||
| Q1 24 | 0.01× | — |
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 | $38.1M | $108.6M |
| Free Cash FlowOCF − Capex | $12.4M | $108.4M |
| FCF MarginFCF / Revenue | 3.2% | 36.6% |
| Capex IntensityCapex / Revenue | 6.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 3.74× | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $137.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.1M | $108.6M | ||
| Q3 25 | $79.1M | $-122.6M | ||
| Q2 25 | $41.5M | $-120.2M | ||
| Q1 25 | $56.7M | $-13.5M | ||
| Q4 24 | $81.8M | $-110.9M | ||
| Q3 24 | $54.4M | $179.3M | ||
| Q2 24 | $14.4M | $65.3M | ||
| Q1 24 | $-31.1M | $52.6M |
| Q4 25 | $12.4M | $108.4M | ||
| Q3 25 | $62.8M | $-122.7M | ||
| Q2 25 | $21.1M | $-120.3M | ||
| Q1 25 | $40.8M | — | ||
| Q4 24 | $62.1M | — | ||
| Q3 24 | $39.4M | $179.2M | ||
| Q2 24 | $-3.5M | $65.3M | ||
| Q1 24 | $-51.5M | $51.9M |
| Q4 25 | 3.2% | 36.6% | ||
| Q3 25 | 16.0% | -44.3% | ||
| Q2 25 | 5.8% | -46.7% | ||
| Q1 25 | 12.3% | — | ||
| Q4 24 | 18.3% | — | ||
| Q3 24 | 11.2% | 110.5% | ||
| Q2 24 | -1.1% | 51.1% | ||
| Q1 24 | -17.1% | 40.6% |
| Q4 25 | 6.6% | 0.1% | ||
| Q3 25 | 4.2% | 0.0% | ||
| Q2 25 | 5.6% | 0.0% | ||
| Q1 25 | 4.8% | 0.0% | ||
| Q4 24 | 5.8% | 0.0% | ||
| Q3 24 | 4.3% | 0.1% | ||
| Q2 24 | 5.6% | 0.0% | ||
| Q1 24 | 6.7% | 0.5% |
| Q4 25 | 3.74× | 5.82× | ||
| Q3 25 | 5.54× | -3.86× | ||
| Q2 25 | 0.90× | -21.43× | ||
| Q1 25 | — | — | ||
| Q4 24 | 9.93× | — | ||
| Q3 24 | 3.95× | — | ||
| Q2 24 | 1.80× | — | ||
| Q1 24 | -2.22× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DIOD
| Distributor | $253.1M | 65% |
| Direct Sales | $138.5M | 35% |
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% |
