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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) 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 $159.9M, roughly 1.9× INSTEEL INDUSTRIES INC). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs 4.7%, a 1.5% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 23.3%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $-2.2M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 12.0%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs UPST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $296.1M |
| Net Profit | $7.6M | $18.6M |
| Gross Margin | 11.3% | — |
| Operating Margin | 6.0% | 6.4% |
| Net Margin | 4.7% | 6.3% |
| Revenue YoY | 23.3% | 35.2% |
| Net Profit YoY | 602.4% | 776.4% |
| EPS (diluted) | $0.39 | $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 | $159.9M | $296.1M | ||
| Q3 25 | $177.4M | $277.1M | ||
| Q2 25 | $179.9M | $257.3M | ||
| Q1 25 | $160.7M | $213.4M | ||
| Q4 24 | $129.7M | $219.0M | ||
| Q3 24 | $134.3M | $162.1M | ||
| Q2 24 | $145.8M | $127.6M | ||
| Q1 24 | $127.4M | $127.8M |
| Q4 25 | $7.6M | $18.6M | ||
| Q3 25 | $14.6M | $31.8M | ||
| Q2 25 | $15.2M | $5.6M | ||
| Q1 25 | $10.2M | $-2.4M | ||
| Q4 24 | $1.1M | $-2.8M | ||
| Q3 24 | $4.7M | $-6.8M | ||
| Q2 24 | $6.6M | $-54.5M | ||
| Q1 24 | $6.9M | $-64.6M |
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 15.3% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 10.6% | — | ||
| Q1 24 | 12.3% | — |
| Q4 25 | 6.0% | 6.4% | ||
| Q3 25 | 10.8% | 8.5% | ||
| Q2 25 | 11.0% | 1.8% | ||
| Q1 25 | 8.3% | -2.1% | ||
| Q4 24 | 1.1% | -2.2% | ||
| Q3 24 | 4.5% | -27.8% | ||
| Q2 24 | 6.0% | -43.5% | ||
| Q1 24 | 7.0% | -52.8% |
| Q4 25 | 4.7% | 6.3% | ||
| Q3 25 | 8.2% | 11.5% | ||
| Q2 25 | 8.4% | 2.2% | ||
| Q1 25 | 6.4% | -1.1% | ||
| Q4 24 | 0.8% | -1.3% | ||
| Q3 24 | 3.5% | -4.2% | ||
| Q2 24 | 4.5% | -42.7% | ||
| Q1 24 | 5.4% | -50.5% |
| Q4 25 | $0.39 | $0.20 | ||
| Q3 25 | $0.74 | $0.23 | ||
| Q2 25 | $0.78 | $0.05 | ||
| Q1 25 | $0.52 | $-0.03 | ||
| Q4 24 | $0.06 | $-0.01 | ||
| Q3 24 | $0.24 | $-0.07 | ||
| Q2 24 | $0.34 | $-0.62 | ||
| Q1 24 | $0.35 | $-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 | $15.6M | $652.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $358.8M | $798.8M |
| Total Assets | $456.1M | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $652.4M | ||
| Q3 25 | $38.6M | $489.8M | ||
| Q2 25 | $53.7M | $395.9M | ||
| Q1 25 | $28.4M | $599.8M | ||
| Q4 24 | $36.0M | $788.4M | ||
| Q3 24 | $111.5M | — | ||
| Q2 24 | $97.7M | — | ||
| Q1 24 | $83.9M | — |
| Q4 25 | $358.8M | $798.8M | ||
| Q3 25 | $371.5M | $743.7M | ||
| Q2 25 | $356.2M | $722.0M | ||
| Q1 25 | $341.4M | $676.6M | ||
| Q4 24 | $331.6M | $633.2M | ||
| Q3 24 | $350.9M | $595.5M | ||
| Q2 24 | $346.0M | $594.7M | ||
| Q1 24 | $340.6M | $612.8M |
| Q4 25 | $456.1M | $3.0B | ||
| Q3 25 | $462.6M | $2.9B | ||
| Q2 25 | $471.9M | $2.5B | ||
| Q1 25 | $421.9M | $2.3B | ||
| Q4 24 | $404.7M | $2.4B | ||
| Q3 24 | $422.6M | $1.8B | ||
| Q2 24 | $414.6M | $1.8B | ||
| Q1 24 | $397.2M | $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 | $-701.0K | $108.6M |
| Free Cash FlowOCF − Capex | $-2.2M | $108.4M |
| FCF MarginFCF / Revenue | -1.4% | 36.6% |
| Capex IntensityCapex / Revenue | 0.9% | 0.1% |
| Cash ConversionOCF / Net Profit | -0.09× | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $108.6M | ||
| Q3 25 | $-17.0M | $-122.6M | ||
| Q2 25 | $28.5M | $-120.2M | ||
| Q1 25 | $-3.3M | $-13.5M | ||
| Q4 24 | $19.0M | $-110.9M | ||
| Q3 24 | $16.2M | $179.3M | ||
| Q2 24 | $18.8M | $65.3M | ||
| Q1 24 | $1.4M | $52.6M |
| Q4 25 | $-2.2M | $108.4M | ||
| Q3 25 | $-18.7M | $-122.7M | ||
| Q2 25 | $26.9M | $-120.3M | ||
| Q1 25 | $-5.5M | — | ||
| Q4 24 | $16.3M | — | ||
| Q3 24 | $14.5M | $179.2M | ||
| Q2 24 | $15.5M | $65.3M | ||
| Q1 24 | $-580.0K | $51.9M |
| Q4 25 | -1.4% | 36.6% | ||
| Q3 25 | -10.6% | -44.3% | ||
| Q2 25 | 15.0% | -46.7% | ||
| Q1 25 | -3.5% | — | ||
| Q4 24 | 12.6% | — | ||
| Q3 24 | 10.8% | 110.5% | ||
| Q2 24 | 10.7% | 51.1% | ||
| Q1 24 | -0.5% | 40.6% |
| Q4 25 | 0.9% | 0.1% | ||
| Q3 25 | 1.0% | 0.0% | ||
| Q2 25 | 0.9% | 0.0% | ||
| Q1 25 | 1.4% | 0.0% | ||
| Q4 24 | 2.1% | 0.0% | ||
| Q3 24 | 1.3% | 0.1% | ||
| Q2 24 | 2.2% | 0.0% | ||
| Q1 24 | 1.5% | 0.5% |
| Q4 25 | -0.09× | 5.82× | ||
| Q3 25 | -1.17× | -3.86× | ||
| Q2 25 | 1.88× | -21.43× | ||
| Q1 25 | -0.32× | — | ||
| Q4 24 | 17.56× | — | ||
| Q3 24 | 3.48× | — | ||
| Q2 24 | 2.86× | — | ||
| Q1 24 | 0.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
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% |
