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Side-by-side financial comparison of UDR, Inc. (UDR) and Upstart Holdings, Inc. (UPST). Click either name above to swap in a different company.
UDR, Inc. is the larger business by last-quarter revenue ($425.8M vs $296.1M, roughly 1.4× Upstart Holdings, Inc.). UDR, Inc. runs the higher net margin — 44.6% vs 6.3%, a 38.3% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 0.9%). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 1.3%).
UDR, Inc. is a leading U.S.-headquartered real estate investment trust specializing in owning, operating, and redeveloping high-quality multifamily residential apartment communities. It operates across major U.S. metropolitan markets, catering to a diverse tenant base including young professionals, families, and middle-to-high income households.
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.
UDR vs UPST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $425.8M | $296.1M |
| Net Profit | $189.8M | $18.6M |
| Gross Margin | — | — |
| Operating Margin | 54.0% | 6.4% |
| Net Margin | 44.6% | 6.3% |
| Revenue YoY | 0.9% | 35.2% |
| Net Profit YoY | 147.2% | 776.4% |
| EPS (diluted) | $0.63 | $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.
| Q1 26 | $425.8M | — | ||
| Q4 25 | $433.1M | $296.1M | ||
| Q3 25 | $431.9M | $277.1M | ||
| Q2 25 | $425.4M | $257.3M | ||
| Q1 25 | $421.9M | $213.4M | ||
| Q4 24 | $422.7M | $219.0M | ||
| Q3 24 | $420.2M | $162.1M | ||
| Q2 24 | $415.3M | $127.6M |
| Q1 26 | $189.8M | — | ||
| Q4 25 | $222.9M | $18.6M | ||
| Q3 25 | $40.4M | $31.8M | ||
| Q2 25 | $37.7M | $5.6M | ||
| Q1 25 | $76.7M | $-2.4M | ||
| Q4 24 | $-5.0M | $-2.8M | ||
| Q3 24 | $22.6M | $-6.8M | ||
| Q2 24 | $28.9M | $-54.5M |
| Q1 26 | 54.0% | — | ||
| Q4 25 | 64.1% | 6.4% | ||
| Q3 25 | 17.7% | 8.5% | ||
| Q2 25 | 18.2% | 1.8% | ||
| Q1 25 | 29.0% | -2.1% | ||
| Q4 24 | 15.7% | -2.2% | ||
| Q3 24 | 16.6% | -27.8% | ||
| Q2 24 | 16.5% | -43.5% |
| Q1 26 | 44.6% | — | ||
| Q4 25 | 51.5% | 6.3% | ||
| Q3 25 | 9.4% | 11.5% | ||
| Q2 25 | 8.9% | 2.2% | ||
| Q1 25 | 18.2% | -1.1% | ||
| Q4 24 | -220.5% | -1.3% | ||
| Q3 24 | 5.4% | -4.2% | ||
| Q2 24 | 7.0% | -42.7% |
| Q1 26 | $0.63 | — | ||
| Q4 25 | $0.67 | $0.20 | ||
| Q3 25 | $0.12 | $0.23 | ||
| Q2 25 | $0.11 | $0.05 | ||
| Q1 25 | $0.23 | $-0.03 | ||
| Q4 24 | $-0.01 | $-0.01 | ||
| Q3 24 | $0.06 | $-0.07 | ||
| Q2 24 | $0.08 | $-0.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3M | $652.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.3B | $798.8M |
| Total Assets | $10.3B | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.3M | — | ||
| Q4 25 | $1.2M | $652.4M | ||
| Q3 25 | $1.2M | $489.8M | ||
| Q2 25 | $1.5M | $395.9M | ||
| Q1 25 | $1.3M | $599.8M | ||
| Q4 24 | $1.3M | $788.4M | ||
| Q3 24 | $2.3M | — | ||
| Q2 24 | $2.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | $5.8B | — | ||
| Q3 25 | $5.8B | — | ||
| Q2 25 | $5.8B | — | ||
| Q1 25 | $5.8B | — | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | $5.9B | — | ||
| Q2 24 | $5.8B | — |
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.3B | $798.8M | ||
| Q3 25 | $3.3B | $743.7M | ||
| Q2 25 | $3.3B | $722.0M | ||
| Q1 25 | $3.3B | $676.6M | ||
| Q4 24 | $3.4B | $633.2M | ||
| Q3 24 | $3.5B | $595.5M | ||
| Q2 24 | $3.7B | $594.7M |
| Q1 26 | $10.3B | — | ||
| Q4 25 | $10.6B | $3.0B | ||
| Q3 25 | $10.6B | $2.9B | ||
| Q2 25 | $10.6B | $2.5B | ||
| Q1 25 | $10.7B | $2.3B | ||
| Q4 24 | $10.9B | $2.4B | ||
| Q3 24 | $11.1B | $1.8B | ||
| Q2 24 | $11.1B | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 1.78× | — | ||
| Q2 25 | 1.74× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 1.69× | — | ||
| Q3 24 | 1.67× | — | ||
| Q2 24 | 1.55× | — |
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 | — | $108.6M |
| Free Cash FlowOCF − Capex | — | $108.4M |
| FCF MarginFCF / Revenue | — | 36.6% |
| Capex IntensityCapex / Revenue | 4.9% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $902.9M | $108.6M | ||
| Q3 25 | $234.9M | $-122.6M | ||
| Q2 25 | $250.3M | $-120.2M | ||
| Q1 25 | $156.2M | $-13.5M | ||
| Q4 24 | $876.8M | $-110.9M | ||
| Q3 24 | $230.3M | $179.3M | ||
| Q2 24 | $238.5M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | $650.0M | $108.4M | ||
| Q3 25 | $164.6M | $-122.7M | ||
| Q2 25 | $190.1M | $-120.3M | ||
| Q1 25 | $103.2M | — | ||
| Q4 24 | $627.0M | — | ||
| Q3 24 | $161.3M | $179.2M | ||
| Q2 24 | $171.1M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | 150.1% | 36.6% | ||
| Q3 25 | 38.1% | -44.3% | ||
| Q2 25 | 44.7% | -46.7% | ||
| Q1 25 | 24.5% | — | ||
| Q4 24 | 148.3% | — | ||
| Q3 24 | 38.4% | 110.5% | ||
| Q2 24 | 41.2% | 51.1% |
| Q1 26 | 4.9% | — | ||
| Q4 25 | 58.4% | 0.1% | ||
| Q3 25 | 16.3% | 0.0% | ||
| Q2 25 | 14.2% | 0.0% | ||
| Q1 25 | 12.6% | 0.0% | ||
| Q4 24 | 59.1% | 0.0% | ||
| Q3 24 | 16.4% | 0.1% | ||
| Q2 24 | 16.2% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 4.05× | 5.82× | ||
| Q3 25 | 5.81× | -3.86× | ||
| Q2 25 | 6.64× | -21.43× | ||
| Q1 25 | 2.04× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.19× | — | ||
| Q2 24 | 8.26× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
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% |
