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Side-by-side financial comparison of Upstart Holdings, Inc. (UPST) and WYNDHAM HOTELS & RESORTS, INC. (WH). Click either name above to swap in a different company.
WYNDHAM HOTELS & RESORTS, INC. is the larger business by last-quarter revenue ($334.0M vs $296.1M, roughly 1.1× Upstart Holdings, Inc.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs -18.0%, a 24.3% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs -76.3%). WYNDHAM HOTELS & RESORTS, INC. produced more free cash flow last quarter ($168.0M vs $108.4M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs -4.6%).
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.
Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.
UPST vs WH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $296.1M | $334.0M |
| Net Profit | $18.6M | $-60.0M |
| Gross Margin | — | — |
| Operating Margin | 6.4% | — |
| Net Margin | 6.3% | -18.0% |
| Revenue YoY | 35.2% | -76.3% |
| Net Profit YoY | 776.4% | -170.6% |
| EPS (diluted) | $0.20 | $-0.80 |
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 | — | $334.0M | ||
| Q4 25 | $296.1M | $334.0M | ||
| Q3 25 | $277.1M | $382.0M | ||
| Q2 25 | $257.3M | $397.0M | ||
| Q1 25 | $213.4M | $316.0M | ||
| Q4 24 | $219.0M | $336.0M | ||
| Q3 24 | $162.1M | $396.0M | ||
| Q2 24 | $127.6M | $367.0M |
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $18.6M | $-60.0M | ||
| Q3 25 | $31.8M | $105.0M | ||
| Q2 25 | $5.6M | $87.0M | ||
| Q1 25 | $-2.4M | $61.0M | ||
| Q4 24 | $-2.8M | $85.0M | ||
| Q3 24 | $-6.8M | $102.0M | ||
| Q2 24 | $-54.5M | $86.0M |
| Q1 26 | — | — | ||
| Q4 25 | 6.4% | -11.4% | ||
| Q3 25 | 8.5% | 46.6% | ||
| Q2 25 | 1.8% | 37.8% | ||
| Q1 25 | -2.1% | 35.4% | ||
| Q4 24 | -2.2% | 38.4% | ||
| Q3 24 | -27.8% | 43.2% | ||
| Q2 24 | -43.5% | 39.5% |
| Q1 26 | — | -18.0% | ||
| Q4 25 | 6.3% | -18.0% | ||
| Q3 25 | 11.5% | 27.5% | ||
| Q2 25 | 2.2% | 21.9% | ||
| Q1 25 | -1.1% | 19.3% | ||
| Q4 24 | -1.3% | 25.3% | ||
| Q3 24 | -4.2% | 25.8% | ||
| Q2 24 | -42.7% | 23.4% |
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $0.20 | $-0.77 | ||
| Q3 25 | $0.23 | $1.36 | ||
| Q2 25 | $0.05 | $1.13 | ||
| Q1 25 | $-0.03 | $0.78 | ||
| Q4 24 | $-0.01 | $1.06 | ||
| Q3 24 | $-0.07 | $1.29 | ||
| Q2 24 | $-0.62 | $1.07 |
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 | $64.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $798.8M | $468.0M |
| Total Assets | $3.0B | $4.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $64.0M | ||
| Q4 25 | $652.4M | $64.0M | ||
| Q3 25 | $489.8M | $70.0M | ||
| Q2 25 | $395.9M | $50.0M | ||
| Q1 25 | $599.8M | $48.0M | ||
| Q4 24 | $788.4M | $103.0M | ||
| Q3 24 | — | $72.0M | ||
| Q2 24 | — | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
| Q1 26 | — | $468.0M | ||
| Q4 25 | $798.8M | $468.0M | ||
| Q3 25 | $743.7M | $583.0M | ||
| Q2 25 | $722.0M | $570.0M | ||
| Q1 25 | $676.6M | $579.0M | ||
| Q4 24 | $633.2M | $650.0M | ||
| Q3 24 | $595.5M | $583.0M | ||
| Q2 24 | $594.7M | $623.0M |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $3.0B | $4.2B | ||
| Q3 25 | $2.9B | $4.3B | ||
| Q2 25 | $2.5B | $4.3B | ||
| Q1 25 | $2.3B | $4.2B | ||
| Q4 24 | $2.4B | $4.2B | ||
| Q3 24 | $1.8B | $4.2B | ||
| Q2 24 | $1.8B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.37× | ||
| Q3 25 | — | 4.43× | ||
| Q2 25 | — | 4.44× | ||
| Q1 25 | — | 4.29× | ||
| Q4 24 | — | 3.72× | ||
| Q3 24 | — | 4.19× | ||
| Q2 24 | — | 3.83× |
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 | $367.0M |
| Free Cash FlowOCF − Capex | $108.4M | $168.0M |
| FCF MarginFCF / Revenue | 36.6% | 50.3% |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 5.82× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $437.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $367.0M | ||
| Q4 25 | $108.6M | $152.0M | ||
| Q3 25 | $-122.6M | $86.0M | ||
| Q2 25 | $-120.2M | $70.0M | ||
| Q1 25 | $-13.5M | $59.0M | ||
| Q4 24 | $-110.9M | $134.0M | ||
| Q3 24 | $179.3M | $79.0M | ||
| Q2 24 | $65.3M | $1.0M |
| Q1 26 | — | $168.0M | ||
| Q4 25 | $108.4M | $136.0M | ||
| Q3 25 | $-122.7M | $75.0M | ||
| Q2 25 | $-120.3M | $58.0M | ||
| Q1 25 | — | $52.0M | ||
| Q4 24 | — | $109.0M | ||
| Q3 24 | $179.2M | $71.0M | ||
| Q2 24 | $65.3M | $-6.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | 36.6% | 40.7% | ||
| Q3 25 | -44.3% | 19.6% | ||
| Q2 25 | -46.7% | 14.6% | ||
| Q1 25 | — | 16.5% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | 110.5% | 17.9% | ||
| Q2 24 | 51.1% | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 4.8% | ||
| Q3 25 | 0.0% | 2.9% | ||
| Q2 25 | 0.0% | 3.0% | ||
| Q1 25 | 0.0% | 2.2% | ||
| Q4 24 | 0.0% | 7.4% | ||
| Q3 24 | 0.1% | 2.0% | ||
| Q2 24 | 0.0% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 5.82× | — | ||
| Q3 25 | -3.86× | 0.82× | ||
| Q2 25 | -21.43× | 0.80× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | — | 1.58× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.01× |
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% |
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
