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LendingClub Corp（LC）与Upstart Holdings, Inc.（UPST）财务数据对比。点击上方公司名可切换其他公司
Upstart Holdings, Inc.的季度营收约是LendingClub Corp的1.2倍（$296.1M vs $252.3M），LendingClub Corp净利率更高（20.5% vs 6.3%，领先14.2%），Upstart Holdings, Inc.同比增速更快（35.2% vs 15.9%），过去两年Upstart Holdings, Inc.的营收复合增速更高（52.2% vs 16.1%）
LendingClub Corp是总部位于美国加利福尼亚州旧金山的金融服务企业，是全球首家将旗下产品作为证券完成注册的P2P借贷平台，同时支持贷款在二级市场交易。巅峰时期它是全球规模最大的P2P借贷平台，截至2015年12月31日，平台累计促成贷款发放额达159.8亿美元。
Upstart是一家AI信贷平台服务商，与银行及信用合作社合作，将教育背景、就业情况等非传统指标纳入信用评估模型，更精准地预测借款人的信用状况，为用户提供消费贷款服务，助力金融机构提升信贷效率、扩大服务覆盖范围。
LC vs UPST — 直观对比
营收规模更大
UPST
是对方的1.2倍
$252.3M
营收增速更快
UPST
高出19.3%
15.9%
净利率更高
LC
高出14.2%
6.3%
两年增速更快
UPST
近两年复合增速
16.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $252.3M | $296.1M |
| 净利润 | $51.6M | $18.6M |
| 毛利率 | — | — |
| 营业利润率 | — | 6.4% |
| 净利率 | 20.5% | 6.3% |
| 营收同比 | 15.9% | 35.2% |
| 净利润同比 | 341.0% | 776.4% |
| 每股收益（稀释后） | $0.44 | $0.20 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收LCUPST
| Q1 26 | $252.3M | — | ||
| Q4 25 | $266.5M | $296.1M | ||
| Q3 25 | $266.2M | $277.1M | ||
| Q2 25 | $248.4M | $257.3M | ||
| Q1 25 | $217.7M | $213.4M | ||
| Q4 24 | $217.2M | $219.0M | ||
| Q3 24 | $201.9M | $162.1M | ||
| Q2 24 | $187.2M | $127.6M |
净利润LCUPST
| Q1 26 | $51.6M | — | ||
| Q4 25 | — | $18.6M | ||
| Q3 25 | $44.3M | $31.8M | ||
| Q2 25 | $38.2M | $5.6M | ||
| Q1 25 | $11.7M | $-2.4M | ||
| Q4 24 | — | $-2.8M | ||
| Q3 24 | $14.5M | $-6.8M | ||
| Q2 24 | $14.9M | $-54.5M |
营业利润率LCUPST
| Q1 26 | — | — | ||
| Q4 25 | 18.8% | 6.4% | ||
| Q3 25 | 21.5% | 8.5% | ||
| Q2 25 | 21.7% | 1.8% | ||
| Q1 25 | 7.2% | -2.1% | ||
| Q4 24 | 5.1% | -2.2% | ||
| Q3 24 | 8.9% | -27.8% | ||
| Q2 24 | 10.4% | -43.5% |
净利率LCUPST
| Q1 26 | 20.5% | — | ||
| Q4 25 | — | 6.3% | ||
| Q3 25 | 16.6% | 11.5% | ||
| Q2 25 | 15.4% | 2.2% | ||
| Q1 25 | 5.4% | -1.1% | ||
| Q4 24 | — | -1.3% | ||
| Q3 24 | 7.2% | -4.2% | ||
| Q2 24 | 8.0% | -42.7% |
每股收益（稀释后）LCUPST
| Q1 26 | $0.44 | — | ||
| Q4 25 | $0.36 | $0.20 | ||
| Q3 25 | $0.37 | $0.23 | ||
| Q2 25 | $0.33 | $0.05 | ||
| Q1 25 | $0.10 | $-0.03 | ||
| Q4 24 | $0.08 | $-0.01 | ||
| Q3 24 | $0.13 | $-0.07 | ||
| Q2 24 | $0.13 | $-0.62 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $652.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $798.8M |
| 总资产 | $11.9B | $3.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LCUPST
| Q1 26 | — | — | ||
| Q4 25 | — | $652.4M | ||
| Q3 25 | — | $489.8M | ||
| Q2 25 | — | $395.9M | ||
| Q1 25 | — | $599.8M | ||
| Q4 24 | — | $788.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总债务LCUPST
| Q1 26 | — | — | ||
| Q4 25 | $0 | — | ||
| Q3 25 | $0 | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | $0 | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益LCUPST
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $798.8M | ||
| Q3 25 | $1.5B | $743.7M | ||
| Q2 25 | $1.4B | $722.0M | ||
| Q1 25 | $1.4B | $676.6M | ||
| Q4 24 | $1.3B | $633.2M | ||
| Q3 24 | $1.3B | $595.5M | ||
| Q2 24 | $1.3B | $594.7M |
总资产LCUPST
| Q1 26 | $11.9B | — | ||
| Q4 25 | $11.6B | $3.0B | ||
| Q3 25 | $11.1B | $2.9B | ||
| Q2 25 | $10.8B | $2.5B | ||
| Q1 25 | $10.5B | $2.3B | ||
| Q4 24 | $10.6B | $2.4B | ||
| Q3 24 | $11.0B | $1.8B | ||
| Q2 24 | $9.6B | $1.8B |
负债/权益比LCUPST
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $108.6M |
| 自由现金流经营现金流 - 资本支出 | — | $108.4M |
| 自由现金流率自由现金流/营收 | — | 36.6% |
| 资本支出强度资本支出/营收 | — | 0.1% |
| 现金转化率经营现金流/净利润 | — | 5.82× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流LCUPST
| Q1 26 | — | — | ||
| Q4 25 | $-2.7B | $108.6M | ||
| Q3 25 | $-770.8M | $-122.6M | ||
| Q2 25 | $-713.1M | $-120.2M | ||
| Q1 25 | $-339.3M | $-13.5M | ||
| Q4 24 | $-2.6B | $-110.9M | ||
| Q3 24 | $-669.8M | $179.3M | ||
| Q2 24 | $-932.5M | $65.3M |
自由现金流LCUPST
| Q1 26 | — | — | ||
| Q4 25 | $-2.9B | $108.4M | ||
| Q3 25 | $-791.8M | $-122.7M | ||
| Q2 25 | $-803.8M | $-120.3M | ||
| Q1 25 | $-352.3M | — | ||
| Q4 24 | $-2.7B | — | ||
| Q3 24 | $-682.3M | $179.2M | ||
| Q2 24 | $-945.3M | $65.3M |
自由现金流率LCUPST
| Q1 26 | — | — | ||
| Q4 25 | -1076.0% | 36.6% | ||
| Q3 25 | -297.4% | -44.3% | ||
| Q2 25 | -323.5% | -46.7% | ||
| Q1 25 | -161.8% | — | ||
| Q4 24 | -1237.8% | — | ||
| Q3 24 | -338.0% | 110.5% | ||
| Q2 24 | -504.9% | 51.1% |
资本支出强度LCUPST
| Q1 26 | — | — | ||
| Q4 25 | 52.7% | 0.1% | ||
| Q3 25 | 7.9% | 0.0% | ||
| Q2 25 | 36.5% | 0.0% | ||
| Q1 25 | 6.0% | 0.0% | ||
| Q4 24 | 25.0% | 0.0% | ||
| Q3 24 | 6.2% | 0.1% | ||
| Q2 24 | 6.9% | 0.0% |
现金转化率LCUPST
| Q1 26 | — | — | ||
| Q4 25 | — | 5.82× | ||
| Q3 25 | -17.41× | -3.86× | ||
| Q2 25 | -18.68× | -21.43× | ||
| Q1 25 | -29.07× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -46.33× | — | ||
| Q2 24 | -62.57× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
LC
暂无分部数据
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% |
