BLK
BlackRock, Inc.
BLK has lower modeled downside risk, despite its lower overall score.
UPST
Upstart Holdings, Inc.
UPST has the edge over BLK overall, supported by stronger valuation and stronger modeled upside.
BLK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BLK's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BLK.
UPST Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
UPST's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like UPST.
BLK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 19x | $848 | -30% |
| Fair | 22x | $973 | -20% |
| Expensive | 26x | $1,149 | -5.5% |
| Current | 28x | $1,217 | — |
Historical ranges are pointers, not guarantees.
BLK's PE is in its expensive range at 28x.
UPST PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $19.15 | — |
| Cheap | 30x | $18.54 | -3.2% |
| Current | 31x | $19.15 | — |
| Fair | 75x | $46.41 | +142% |
| Expensive | 441x | $273 | +1328% |
Historical ranges are pointers, not guarantees.
UPST has the edge over BLK in the historical PE scenario, which offers more potential upside but is not a forecast.
BLK Forward outlook
There aren't enough analyst estimates for BLK to show an outlook.
UPST Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect UPST's revenue to grow, but its earnings and profitability to decline. However, they disagree widely on these estimates.
BLK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $43.87 | +11% |
| Q2 2026 | $41.73 | -0.4% |
| Q1 2026 | $39.73 | -4.7% |
| Q4 2025 | $35.31 | -17% |
| Q3 2025 | $39.42 | -2.7% |
| Q2 2025 | $41.89 | +4% |
| Q1 2025 | $41.69 | +5.9% |
| Q4 2024 | $42.53 | +16% |
BLK earned $43.87 per share over the past year, up 11% from the year before.
UPST Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.04 | +67% |
| Q3 2026 | $0.62 | +158% |
| Q2 2026 | $0.52 | +$0.58 |
| Q1 2026 | $0.41 | +$1.14 |
| Q4 2025 | $0.45 | +$1.89 |
| Q3 2025 | $0.24 | +$2.14 |
| Q2 2025 | -$0.06 | +$2.25 |
| Q1 2025 | -$0.73 | +$1.30 |
| Q4 2024 | -$1.44 | +$1.43 |
UPST has the edge over BLK on earnings, with more consistent year-over-year improvement.
BLK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.8B | +19% |
| Q2 2026 | $7.1B | +31% |
| Q1 2026 | $6.7B | +27% |
| Q4 2025 | $7B | +23% |
| Q3 2025 | $6.5B | +25% |
| Q2 2025 | $5.4B | +13% |
| Q1 2025 | $5.3B | +12% |
| Q4 2024 | $5.7B | +23% |
BLK's revenue has grown year over year for 13 quarters in a row: $7.8B last quarter, up 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | 0 points |
| Q2 2026 | 35% | +2.8 points |
| Q1 2026 | 42% | +9.8 points |
| Q4 2025 | 24% | -13 points |
| Q3 2025 | 30% | -8.6 points |
| Q2 2025 | 32% | -5.5 points |
| Q1 2025 | 32% | -3.6 points |
| Q4 2024 | 37% | +2.3 points |
BLK has the edge over UPST on profitability, with a higher operating margin.
UPST Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $370.5M | +34% |
| Q2 2026 | $364.7M | +42% |
| Q1 2026 | $308.2M | +44% |
| Q4 2025 | $296.1M | +35% |
| Q3 2025 | $277.1M | +71% |
| Q2 2025 | $257.3M | +102% |
| Q1 2025 | $213.4M | +67% |
| Q4 2024 | $219M | +56% |
UPST has the edge over BLK on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.7% | +1.2 points |
| Q2 2026 | 4% | +2.2 points |
| Q1 2026 | -2.4% | -0.3 points |
| Q4 2025 | 6.4% | +8.6 points |
| Q3 2025 | 8.5% | +36 points |
| Q2 2025 | 1.8% | +45 points |
| Q1 2025 | -2.1% | +51 points |
| Q4 2024 | -2.2% | +32 points |
UPST's operating margin was 9.7% last quarter, up 1.2 points from the same quarter a year ago.
BLK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6B | +95% |
| Q2 2026 | $1.1B | -12% |
| Q1 2026 | -$1.1B | +$120M |
| Q4 2025 | $2.1B | -15% |
| Q2 2025 | $1.3B | -6.1% |
| Q1 2025 | -$1.2B | -$734M |
| Q4 2024 | $2.5B | +35% |
| Q2 2024 | $1.4B | +47% |
BLK has the edge over UPST on cash generation, producing positive trailing cash flow while its opponent burns cash.
UPST Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$20.6M | +$102.1M |
| Q2 2026 | -$138.7M | -$18.4M |
| Q1 2026 | -$136M | -$122.6M |
| Q4 2025 | $108.4M | +$219.3M |
| Q3 2025 | -$122.7M | -168% |
| Q2 2025 | -$120.3M | -284% |
| Q1 2025 | -$13.5M | -126% |
| Q4 2024 | -$110.9M | +$33M |
UPST's free cash flow was −$187M over the past year, against −$367M the year before. Free cash flow isn't a meaningful measure for financial services companies like UPST.
BLK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -148K shares |
| 1 year | -0.4% | -677K shares |
| 3 years | +9.3% | +14M shares |
| 5 years | +6.2% | +9.6M shares |
| Available history | +4.4% | +7M shares |
BLK has the edge over UPST on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | $396M |
| Q1 2025 | $657M |
| Q4 2024 | $386M |
| Q2 2024 | $519M |
| Q1 2024 | $634M |
| Q4 2023 | $384M |
| Q3 2023 | $396M |
| Q2 2023 | $383M |
UPST Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +14% | +15.7M shares |
| 1 year | +14% | +15.7M shares |
| 3 years | +49% | +41M shares |
| 5 years | +31% | +29.4M shares |
| Available history | +771% | +111M shares |
UPST has 125M diluted shares, up 14% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $100.1M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | $27.8M |
| Q3 2022 | $25M |
| Q4 2020 | — |
BLK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2024 | 0.2x | Very low |
| Q1 2024 | 0.3x | Very low |
| Q4 2023 | 0.1x | Very low |
BLK has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like BLK.
UPST Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.3x | Net Cash |
| Q2 2026 | -6.1x | Net Cash |
| Q1 2026 | -7.4x | Net Cash |
| Q4 2025 | -9.7x | Net Cash |
| Q3 2025 | -11.7x | Net Cash |
| Q3 2022 | -39.2x | Net Cash |
| Q2 2022 | -7.7x | Net Cash |
| Q1 2022 | -4.5x | Net Cash |
UPST has the edge over BLK on leverage, with a lower net debt burden relative to earnings.
BLK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.5 | Neutral |
| Stochastic | 79.0 | Neutral |
BLK's weekly RSI is 64 (neutral) and its Stochastic is 79 (neutral).
UPST Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.1 | Neutral |
| Stochastic | 5.5 | Oversold |
UPST's weekly RSI is 30 (neutral) and its Stochastic is 5 (oversold).
BLK PE vs Financial Services Sector
| Metric | BLK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 113% above |
| PE % | 97 | 63 | 34 pts above |
BLK has the edge over UPST on valuation relative to its sector.
UPST PE vs Financial Services Sector
| Metric | UPST | Sector median | Relative |
|---|---|---|---|
| PE | 31x | 13x | 137% above |
| PE % | 18 | 61 | 43 pts below |
UPST is trading at 31x earnings, a 137% premium to the Financial Services sector's median of 13x.
BLK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,128.0 | 7.9% above |
| 20 week MA | $1,108.9 | 9.7% above |
| 50 week MA | $1,071.6 | 14% above |
| 100 week MA | $1,051.1 | 16% above |
| 200 week MA | $914.1 | 33% above |
BLK has the edge over UPST on trend strength, trading above more of its moving averages.
UPST Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $22.8 | 16% below |
| 20 week MA | $26.7 | 28% below |
| 50 week MA | $31.7 | 40% below |
| 100 week MA | $44.8 | 57% below |
| 200 week MA | $38.6 | 50% below |
UPST is in a downtrend: it's below all five of its weekly moving averages, and 50% below its 200-week average.
BLK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $503.0 | $707.2 | +41% |
| 2021 | $707.2 | $913.9 | +29% |
| 2022 | $913.9 | $703.9 | -23% |
| 2023 | $703.9 | $811.8 | +15% |
| 2024 | $811.8 | $1,044.2 | +29% |
| 2025 | $1,044.2 | $1,088.1 | +4.2% |
| 2026 YTD | $1,088.1 | $1,216.6 | +12% |
BLK has the edge over UPST on returns for 2026, with the stronger performance.
UPST Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $44.1 | $44.0 | -0.3% |
| 2021 | $44.0 | $148.1 | +237% |
| 2022 | $148.1 | $13.2 | -91% |
| 2023 | $13.2 | $40.9 | +210% |
| 2024 | $40.9 | $68.0 | +66% |
| 2025 | $68.0 | $47.5 | -30% |
| 2026 YTD | $47.5 | $19.2 | -60% |
UPST's yearly returns have swung widely, from +237% in 2021 to −91% in 2022. It's down 60% so far in 2026.