KLAR vs UPST Stock Comparison: AI Score, Valuation, Performance and Upside
Klarna is typically evaluated as a global consumer buy-now-pay-later and digital banking platform whose stock has come under pressure since its 2025 IPO amid profitability concerns, while Upstart is assessed as an AI-driven loan underwriting platform whose growth depends on funding partner capacity and credit model performance. Both are fintech lenders sensitive to consumer credit trends, but they differ in geography, product structure, and business model maturity. The choice depends on whether an investor wants global BNPL scale or a U.S.-focused AI underwriting bet.
Upstart suits investors wanting a more focused bet on AI-driven credit underwriting scaling profitably, while Klarna offers broader, more established global consumer lending scale but requires confidence in its path back to sustained profitability after a difficult post-IPO stretch.
UPST holds the edge across 3 of 5 key metrics in this comparison. UPST leads on both revenue growth (42.30%) and operating margin (7.20%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies similar upside for both: +38.05% for KLAR and +40.86% for UPST.
- Want exposure to global buy-now-pay-later and digital banking adoption
- Believe in Klarna's continued path toward sustained profitability
- See value after the stock's sharp decline from its IPO price
- Can tolerate regulatory scrutiny of BNPL lending
- Believe AI-driven underwriting will outperform traditional credit scoring over time
- Want exposure to a recovering consumer lending origination cycle
- Can tolerate volatility tied to funding partner capacity and interest rates
- Are comfortable with a smaller, more concentrated fintech platform
| Metric | KLAR | UPST |
|---|---|---|
| AI score | N/A | 24.4 |
| AI rank | N/A | #3143 |
| Latest close | $14.69 | $28.68 |
| 1M return | -22.44% | +4.52% |
| 6M return | +8.33% | +5.33% |
| 1Y return | N/A | -60.86% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | KLAR | UPST |
|---|---|---|
| 1Y ago | $3.44K (-65.6%) started 2025-09-11 | $4.15K (-58.5%) started 2025-09-02 |
| 5Y ago | $3.44K (-65.6%) started 2025-09-11 | $1.25K (-87.5%) started 2021-08-31 |
| 10Y ago | $3.44K (-65.6%) started 2025-09-11 | $9.73K (-2.7%) started 2020-12-16 |
Hypothetical — past performance does not guarantee future results.
| Metric | KLAR | UPST |
|---|---|---|
| Market cap | $5.55B | $2.79B |
| Trailing P/E | N/A | 55.15 |
| Forward P/E | 18.40 | 8.43 |
| Price/Sales | 1.38 | 2.17 |
| EV/Revenue | 0.63 | 3.44 |
| Analyst target | $20.28 | $40.40 |
| Target upside | +38.05% | +40.86% |
| Metric | KLAR | UPST |
|---|---|---|
| Revenue growth | 26.60% | 42.30% |
| Earnings growth | N/A | 211.20% |
| EPS growth | N/A | +211.20% |
| FCF margin | +19.77% | -10.30% |
| Operating margin | 2.97% | 7.20% |
| Profit margin | -3.52% | 4.69% |
| ROIC proxy | -4.29% | 7.94% |
| Return on equity | -4.29% | 7.94% |
| Dividend yield | 0.00% | 0.00% |
| Beta | 2.39 | 2.17 |
| Debt/equity | 65.72 | 258.01 |
| Current ratio | 23.15 | 10.46 |
| Quick ratio | 22.34 | 2.39 |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | KLAR | UPST |
|---|---|---|---|
| 1Y | Growth | -65.63% | -58.54% |
| CAGR | -66.78% | -58.76% | |
| Sharpe ratio | -1.24 | -1.07 | |
| Max drawdown | 73.02% | 64.98% | |
| Max daily drop | 26.91% | 15.04% | |
| Max wkly drop | 32.30% | 19.77% | |
| 5Y | Growth | -65.63% | -87.48% |
| CAGR | -66.78% | -34.01% | |
| Sharpe ratio | -1.24 | 0.07 | |
| Max drawdown | 73.02% | 96.90% | |
| Max daily drop | 26.91% | 56.42% | |
| Max wkly drop | 32.30% | 70.08% | |
| 10Y | Growth | -65.63% | -2.68% |
| CAGR | -66.78% | -0.48% | |
| Sharpe ratio | -1.24 | 0.50 | |
| Max drawdown | 73.02% | 96.90% | |
| Max daily drop | 26.91% | 56.42% | |
| Max wkly drop | 32.30% | 70.08% |
| Category | KLAR | UPST |
|---|---|---|
| Company | Klarna Group plc | Upstart Holdings, Inc. |
| Sector | Financial Technology / Consumer Lending | Financial Technology / AI Lending |
| Industry | N/A | N/A |
| Core business | Klarna operates a buy-now-pay-later and digital banking platform, letting consumers split purchases into installments while providing merchant payment services globally. | Upstart operates an AI-driven lending platform that uses machine learning models to underwrite personal, auto, and other consumer loans for bank and credit union partners. |
| Investor focus | Investors watch gross merchandise volume growth, credit loss trends, and progress toward sustained profitability following its 2025 U.S. listing. | Investors watch loan origination volume growth, funding partner capacity, and whether Upstart's AI underwriting models continue to perform through varying credit cycles. |
- Large global merchant network and consumer user base across buy-now-pay-later
- Improving profitability trajectory with narrowing losses since its IPO
- Expanding into broader digital banking and financial services products
- Reiterated double-digit revenue and adjusted EBITDA growth guidance for 2026
- AI-based underwriting model differentiates it from traditional credit scoring lenders
- Expanding loan funding partnerships beyond its original personal loan product
- Stock has declined sharply from its IPO price amid profitability scrutiny
- Credit risk exposure tied to consumer repayment behavior in a buy-now-pay-later model
- Increasing regulatory attention on buy-now-pay-later lending practices
- Origination volume and revenue remain sensitive to interest rates and funding partner appetite
- Margins have not kept pace with revenue growth in recent periods
- Model performance risk if underwriting assumptions face a credit downturn
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