vs
Side-by-side financial comparison of Distribution Solutions Group, Inc. (DSGR) and Upstart Holdings, Inc. (UPST). Click either name above to swap in a different company.
Distribution Solutions Group, Inc. is the larger business by last-quarter revenue ($518.0M vs $296.1M, roughly 1.7× Upstart Holdings, Inc.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs 1.2%, a 5.0% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 10.7%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $32.9M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 13.1%).
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
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.
DSGR vs UPST — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $518.0M | $296.1M |
| Net Profit | $6.5M | $18.6M |
| Gross Margin | 32.9% | — |
| Operating Margin | 4.6% | 6.4% |
| Net Margin | 1.2% | 6.3% |
| Revenue YoY | 10.7% | 35.2% |
| Net Profit YoY | -70.6% | 776.4% |
| EPS (diluted) | $0.14 | $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 | — | $296.1M | ||
| Q3 25 | $518.0M | $277.1M | ||
| Q2 25 | $502.4M | $257.3M | ||
| Q1 25 | $478.0M | $213.4M | ||
| Q4 24 | $480.5M | $219.0M | ||
| Q3 24 | $468.0M | $162.1M | ||
| Q2 24 | $439.5M | $127.6M | ||
| Q1 24 | $416.1M | $127.8M |
| Q4 25 | — | $18.6M | ||
| Q3 25 | $6.5M | $31.8M | ||
| Q2 25 | $5.0M | $5.6M | ||
| Q1 25 | $3.3M | $-2.4M | ||
| Q4 24 | $-25.9M | $-2.8M | ||
| Q3 24 | $21.9M | $-6.8M | ||
| Q2 24 | $1.9M | $-54.5M | ||
| Q1 24 | $-5.2M | $-64.6M |
| Q4 25 | — | — | ||
| Q3 25 | 32.9% | — | ||
| Q2 25 | 33.9% | — | ||
| Q1 25 | 34.3% | — | ||
| Q4 24 | 33.3% | — | ||
| Q3 24 | 33.9% | — | ||
| Q2 24 | 34.5% | — | ||
| Q1 24 | 34.5% | — |
| Q4 25 | — | 6.4% | ||
| Q3 25 | 4.6% | 8.5% | ||
| Q2 25 | 5.3% | 1.8% | ||
| Q1 25 | 4.2% | -2.1% | ||
| Q4 24 | 4.2% | -2.2% | ||
| Q3 24 | 4.0% | -27.8% | ||
| Q2 24 | 3.2% | -43.5% | ||
| Q1 24 | 0.7% | -52.8% |
| Q4 25 | — | 6.3% | ||
| Q3 25 | 1.2% | 11.5% | ||
| Q2 25 | 1.0% | 2.2% | ||
| Q1 25 | 0.7% | -1.1% | ||
| Q4 24 | -5.4% | -1.3% | ||
| Q3 24 | 4.7% | -4.2% | ||
| Q2 24 | 0.4% | -42.7% | ||
| Q1 24 | -1.3% | -50.5% |
| Q4 25 | — | $0.20 | ||
| Q3 25 | $0.14 | $0.23 | ||
| Q2 25 | $0.11 | $0.05 | ||
| Q1 25 | $0.07 | $-0.03 | ||
| Q4 24 | $-0.55 | $-0.01 | ||
| Q3 24 | $0.46 | $-0.07 | ||
| Q2 24 | $0.04 | $-0.62 | ||
| Q1 24 | $-0.11 | $-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 | $69.2M | $652.4M |
| Total DebtLower is stronger | $665.5M | — |
| Stockholders' EquityBook value | $653.9M | $798.8M |
| Total Assets | $1.8B | $3.0B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $652.4M | ||
| Q3 25 | $69.2M | $489.8M | ||
| Q2 25 | $47.4M | $395.9M | ||
| Q1 25 | $65.4M | $599.8M | ||
| Q4 24 | $66.5M | $788.4M | ||
| Q3 24 | $61.3M | — | ||
| Q2 24 | $46.8M | — | ||
| Q1 24 | $73.1M | — |
| Q4 25 | — | — | ||
| Q3 25 | $665.5M | — | ||
| Q2 25 | $675.0M | — | ||
| Q1 25 | $712.4M | — | ||
| Q4 24 | $693.9M | — | ||
| Q3 24 | $704.1M | — | ||
| Q2 24 | $573.7M | — | ||
| Q1 24 | $535.7M | — |
| Q4 25 | — | $798.8M | ||
| Q3 25 | $653.9M | $743.7M | ||
| Q2 25 | $649.4M | $722.0M | ||
| Q1 25 | $636.7M | $676.6M | ||
| Q4 24 | $640.5M | $633.2M | ||
| Q3 24 | $680.8M | $595.5M | ||
| Q2 24 | $653.3M | $594.7M | ||
| Q1 24 | $654.7M | $612.8M |
| Q4 25 | — | $3.0B | ||
| Q3 25 | $1.8B | $2.9B | ||
| Q2 25 | $1.8B | $2.5B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $1.7B | $2.4B | ||
| Q3 24 | $1.8B | $1.8B | ||
| Q2 24 | $1.6B | $1.8B | ||
| Q1 24 | $1.5B | $1.9B |
| Q4 25 | — | — | ||
| Q3 25 | 1.02× | — | ||
| Q2 25 | 1.04× | — | ||
| Q1 25 | 1.12× | — | ||
| Q4 24 | 1.08× | — | ||
| Q3 24 | 1.03× | — | ||
| Q2 24 | 0.88× | — | ||
| Q1 24 | 0.82× | — |
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 | $38.4M | $108.6M |
| Free Cash FlowOCF − Capex | $32.9M | $108.4M |
| FCF MarginFCF / Revenue | 6.3% | 36.6% |
| Capex IntensityCapex / Revenue | 1.1% | 0.1% |
| Cash ConversionOCF / Net Profit | 5.95× | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $92.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $108.6M | ||
| Q3 25 | $38.4M | $-122.6M | ||
| Q2 25 | $33.3M | $-120.2M | ||
| Q1 25 | $-4.8M | $-13.5M | ||
| Q4 24 | $45.7M | $-110.9M | ||
| Q3 24 | $-17.3M | $179.3M | ||
| Q2 24 | $21.4M | $65.3M | ||
| Q1 24 | $6.6M | $52.6M |
| Q4 25 | — | $108.4M | ||
| Q3 25 | $32.9M | $-122.7M | ||
| Q2 25 | $28.7M | $-120.3M | ||
| Q1 25 | $-10.4M | — | ||
| Q4 24 | $41.1M | — | ||
| Q3 24 | $-20.5M | $179.2M | ||
| Q2 24 | $18.0M | $65.3M | ||
| Q1 24 | $4.2M | $51.9M |
| Q4 25 | — | 36.6% | ||
| Q3 25 | 6.3% | -44.3% | ||
| Q2 25 | 5.7% | -46.7% | ||
| Q1 25 | -2.2% | — | ||
| Q4 24 | 8.6% | — | ||
| Q3 24 | -4.4% | 110.5% | ||
| Q2 24 | 4.1% | 51.1% | ||
| Q1 24 | 1.0% | 40.6% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 1.1% | 0.0% | ||
| Q2 25 | 0.9% | 0.0% | ||
| Q1 25 | 1.2% | 0.0% | ||
| Q4 24 | 1.0% | 0.0% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | 0.8% | 0.0% | ||
| Q1 24 | 0.6% | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | 5.95× | -3.86× | ||
| Q2 25 | 6.66× | -21.43× | ||
| Q1 25 | -1.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.79× | — | ||
| Q2 24 | 11.28× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
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% |
