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Side-by-side financial comparison of Upstart Holdings, Inc. (UPST) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $296.1M, roughly 1.3× Upstart Holdings, Inc.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs 4.9%, a 1.4% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 6.7%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $47.8M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 5.8%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
UPST vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $296.1M | $377.3M |
| Net Profit | $18.6M | $18.4M |
| Gross Margin | — | — |
| Operating Margin | 6.4% | 8.5% |
| Net Margin | 6.3% | 4.9% |
| Revenue YoY | 35.2% | 6.7% |
| Net Profit YoY | 776.4% | -42.1% |
| EPS (diluted) | $0.20 | $0.61 |
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 | $377.3M | ||
| Q3 25 | $277.1M | $386.3M | ||
| Q2 25 | $257.3M | $376.4M | ||
| Q1 25 | $213.4M | $350.5M | ||
| Q4 24 | $219.0M | $353.5M | ||
| Q3 24 | $162.1M | $365.1M | ||
| Q2 24 | $127.6M | $359.7M | ||
| Q1 24 | $127.8M | $337.1M |
| Q4 25 | $18.6M | $18.4M | ||
| Q3 25 | $31.8M | $51.5M | ||
| Q2 25 | $5.6M | $31.7M | ||
| Q1 25 | $-2.4M | $27.4M | ||
| Q4 24 | $-2.8M | $31.8M | ||
| Q3 24 | $-6.8M | $28.2M | ||
| Q2 24 | $-54.5M | $28.2M | ||
| Q1 24 | $-64.6M | $6.6M |
| Q4 25 | 6.4% | 8.5% | ||
| Q3 25 | 8.5% | 13.1% | ||
| Q2 25 | 1.8% | 11.3% | ||
| Q1 25 | -2.1% | 9.6% | ||
| Q4 24 | -2.2% | 9.0% | ||
| Q3 24 | -27.8% | 9.1% | ||
| Q2 24 | -43.5% | 12.4% | ||
| Q1 24 | -52.8% | 6.8% |
| Q4 25 | 6.3% | 4.9% | ||
| Q3 25 | 11.5% | 13.3% | ||
| Q2 25 | 2.2% | 8.4% | ||
| Q1 25 | -1.1% | 7.8% | ||
| Q4 24 | -1.3% | 9.0% | ||
| Q3 24 | -4.2% | 7.7% | ||
| Q2 24 | -42.7% | 7.8% | ||
| Q1 24 | -50.5% | 2.0% |
| Q4 25 | $0.20 | $0.61 | ||
| Q3 25 | $0.23 | $1.72 | ||
| Q2 25 | $0.05 | $1.07 | ||
| Q1 25 | $-0.03 | $0.92 | ||
| Q4 24 | $-0.01 | $1.07 | ||
| Q3 24 | $-0.07 | $0.95 | ||
| Q2 24 | $-0.62 | $0.96 | ||
| Q1 24 | $-0.74 | $0.23 |
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 | $286.2M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $798.8M | $1.1B |
| Total Assets | $3.0B | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $652.4M | $286.2M | ||
| Q3 25 | $489.8M | $245.5M | ||
| Q2 25 | $395.9M | $251.8M | ||
| Q1 25 | $599.8M | $191.1M | ||
| Q4 24 | $788.4M | $247.5M | ||
| Q3 24 | — | $200.3M | ||
| Q2 24 | — | $178.6M | ||
| Q1 24 | — | $140.6M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $675.0M | ||
| Q2 25 | — | $705.2M | ||
| Q1 25 | — | $701.9M | ||
| Q4 24 | — | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | — | $544.1M |
| Q4 25 | $798.8M | $1.1B | ||
| Q3 25 | $743.7M | $1.0B | ||
| Q2 25 | $722.0M | $984.4M | ||
| Q1 25 | $676.6M | $931.7M | ||
| Q4 24 | $633.2M | $891.7M | ||
| Q3 24 | $595.5M | $899.2M | ||
| Q2 24 | $594.7M | $849.1M | ||
| Q1 24 | $612.8M | $820.7M |
| Q4 25 | $3.0B | $2.3B | ||
| Q3 25 | $2.9B | $2.3B | ||
| Q2 25 | $2.5B | $2.3B | ||
| Q1 25 | $2.3B | $2.2B | ||
| Q4 24 | $2.4B | $2.1B | ||
| Q3 24 | $1.8B | $2.1B | ||
| Q2 24 | $1.8B | $2.0B | ||
| Q1 24 | $1.9B | $1.9B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $108.4M | $47.8M |
| FCF MarginFCF / Revenue | 36.6% | 12.7% |
| Capex IntensityCapex / Revenue | 0.1% | 7.7% |
| Cash ConversionOCF / Net Profit | 5.82× | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.6M | $76.9M | ||
| Q3 25 | $-122.6M | $23.1M | ||
| Q2 25 | $-120.2M | $99.0M | ||
| Q1 25 | $-13.5M | $-603.0K | ||
| Q4 24 | $-110.9M | $51.1M | ||
| Q3 24 | $179.3M | $66.0M | ||
| Q2 24 | $65.3M | $33.7M | ||
| Q1 24 | $52.6M | $26.7M |
| Q4 25 | $108.4M | $47.8M | ||
| Q3 25 | $-122.7M | $-6.2M | ||
| Q2 25 | $-120.3M | $67.4M | ||
| Q1 25 | — | $-52.7M | ||
| Q4 24 | — | $-32.4M | ||
| Q3 24 | $179.2M | $9.0M | ||
| Q2 24 | $65.3M | $-16.7M | ||
| Q1 24 | $51.9M | $-37.9M |
| Q4 25 | 36.6% | 12.7% | ||
| Q3 25 | -44.3% | -1.6% | ||
| Q2 25 | -46.7% | 17.9% | ||
| Q1 25 | — | -15.0% | ||
| Q4 24 | — | -9.2% | ||
| Q3 24 | 110.5% | 2.5% | ||
| Q2 24 | 51.1% | -4.6% | ||
| Q1 24 | 40.6% | -11.2% |
| Q4 25 | 0.1% | 7.7% | ||
| Q3 25 | 0.0% | 7.6% | ||
| Q2 25 | 0.0% | 8.4% | ||
| Q1 25 | 0.0% | 14.9% | ||
| Q4 24 | 0.0% | 23.6% | ||
| Q3 24 | 0.1% | 15.6% | ||
| Q2 24 | 0.0% | 14.0% | ||
| Q1 24 | 0.5% | 19.2% |
| Q4 25 | 5.82× | 4.17× | ||
| Q3 25 | -3.86× | 0.45× | ||
| Q2 25 | -21.43× | 3.12× | ||
| Q1 25 | — | -0.02× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
