olivLaw · US equity research
Upbound Group, Inc. UPBD
Services-Equipment Rental & Leasing, NEC · SIC 7359 · Vertical: Services-Equipment Rental & Leasing, NEC (SIC 7359)
Upbound Group is a technology and data-driven provider of accessible financial solutions that serve underserved consumers through lease-to-own offerings in its Acima and Rent-A-Center segments and the Brigit app. The company reported total revenues of 4695.061 million USD in fiscal 2025, and in 2026 it reaffirmed its adjusted EBITDA range, which shows how relevant its model remains for underserved US consumers.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Upbound Group, Inc. (UPBD) stock was 24.14 USD (+7.48% on the day), with market capitalisation 1.4 bn USD, P/E 12.7 on diluted EPS of 1.90 USD over the last 12 months, dividend yield 6.46%, beta 1.19, 52-week range 15.36–24.14 USD. Latest reported quarter (Q3 2026): revenue of 1.1 bn USD (−1.6% YoY), net income of 34.3 m USD (+159.2% YoY), diluted EPS 0.58 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 83.6
- overbought (≥ 70)
- Bollinger (20, 2)
- 12.37 – 23.04
- above the upper band · %B 1.10 · band width 60.3%
- SMA 50 / 200
- 17.48 / 18.92
- mixed trend
- MACD (12, 26, 9)
- 1.49 / 0.61
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +53.6% | −1.1% | +54.7 pp | — |
| 3 months | +20.0% | −0.5% | +20.4 pp | — |
| 6 months | +27.0% | +4.4% | +22.6 pp | — |
| Year to date | +37.5% | +12.3% | +25.2 pp | — |
| 1 year | +22.1% | +13.5% | +8.6 pp | +33.4% |
| 3 years | −15.5% | +76.4% | −91.9 pp | +46.3% |
| 5 years | −44.5% | +63.7% | −108.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 1.2 bn | 1.2 bn | 1.2 bn | 1.2 bn | 1.2 bn | 1.2 bn | 1.1 bn |
| Cost of revenue | 571.0 m | 626.2 m | 585.7 m | 601.6 m | 609.8 m | 633.3 m | 568.6 m | 565.9 m |
| Gross profit | 508.2 m | 550.1 m | 571.8 m | 563.1 m | 586.7 m | 586.5 m | 594.8 m | 580.2 m |
| Operating income | 79.2 m | 62.6 m | 50.7 m | 52.8 m | 57.2 m | 77.4 m | 54.3 m | 71.2 m |
| Depreciation & amortisation | 12.0 m | — | — | — | — | — | — | — |
| Interest expense | 25.4 m | 27.8 m | 28.5 m | 28.7 m | 28.0 m | 26.9 m | 25.5 m | 25.1 m |
| Pre-tax income | 54.4 m | 35.5 m | 22.8 m | 19.9 m | 29.9 m | 51.3 m | 29.3 m | 46.7 m |
| Income tax | 23.4 m | 10.7 m | 7.4 m | 6.6 m | 10.1 m | 15.5 m | 7.7 m | 12.5 m |
| Net income | 31.0 m | 24.8 m | 15.5 m | 13.2 m | 19.7 m | 35.8 m | 21.6 m | 34.3 m |
| Diluted EPS | 0.55 ≈ | 0.42 | 0.26 | 0.22 | 0.34 ≈ | 0.61 | 0.37 | 0.58 |
| Operating cash flow | -61.9 m | 148.0 m | 26.1 m ≈ | 89.9 m ≈ | 41.6 m | 170.7 m | 123.3 m ≈ | 163.1 m ≈ |
| Capex | 12.1 m | 10.6 m | 18.2 m | 20.5 m | 17.5 m | 16.0 m | 15.5 m ≈ | 16.1 m ≈ |
| Dividends paid | 20.3 m | 21.4 m | 22.1 m ≈ | 22.2 m ≈ | 22.2 m | 23.1 m | 22.9 m ≈ | 23.5 m ≈ |
| Share repurchases | 0 | — | — | — | — | — | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 31 percentile of its own 32-quarter history (min 3.7, median 16.4, max 215.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.7 bn | 2.7 bn | 2.8 bn | 4.6 bn | 4.2 bn | 4.0 bn | 4.3 bn | 4.7 bn |
| Revenue YoY | −1.6% | +0.4% | +5.4% | +62.9% | −7.4% | −6.0% | +8.2% | +8.7% |
| Net income | 8.5 m | 173.5 m | 208.1 m | 134.9 m | 12.4 m | -5.2 m | 123.5 m | 73.2 m |
| Net income YoY | +27.6% | +1,943.6% | +19.9% | −35.2% | −90.8% | −141.9% | unavailable | −40.7% |
| Diluted EPS | 0.16 | 3.10 | 3.73 | 2.02 | 0.21 | -0.09 | 2.21 | 1.25 |
| Diluted EPS YoY | +33.3% | +1,837.5% | +20.3% | −45.8% | −89.6% | −142.9% | unavailable | −43.4% |
| net % | 0.3% | 6.5% | 7.4% | 2.9% | 0.3% | -0.1% | 2.9% | 1.6% |
| Free cash flow | 199.5 m | 194.3 m | 202.0 m | 329.8 m | 407.1 m | 146.9 m | 48.4 m | 238.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 120.5 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 695.7 m USD
- Total assets
- 3.3 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 11.1%
- ROA
- 2.5%
- FCF margin
- 5.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.8 bn | 4.6 bn | 4.2 bn | 4.0 bn | 4.3 bn | 4.7 bn | SEC (XBRL)· 23 Feb 2026verified |
| Cost of revenue | 1.1 bn | 2.3 bn | 2.2 bn | 2.0 bn | 2.2 bn | 2.4 bn | SEC (XBRL)· 23 Feb 2026verified |
| Gross profit | 1.7 bn | 2.2 bn | 2.1 bn | 2.0 bn | 2.1 bn | 2.3 bn | SEC (XBRL)· 23 Feb 2026verified |
| Operating income | 237.3 m | 280.5 m | 148.5 m | 162.9 m | 291.6 m | 223.3 m | SEC (XBRL)· 23 Feb 2026verified |
| Depreciation & amortisation | — | — | 53.1 m | 51.3 m | 50.9 m | 52.0 m | SEC (XBRL)· 23 Feb 2026verified |
| EBITDA | — | — | 201.6 m ≈ | 214.2 m ≈ | 342.5 m ≈ | 275.3 m ≈ | SEC (XBRL)· 23 Feb 2026derived |
| Interest expense | 15.3 m | 70.9 m | 87.7 m | 113.4 m | 110.6 m | 113.0 m | SEC (XBRL)· 23 Feb 2026verified |
| Pre-tax income | 222.8 m | 194.3 m | 61.5 m | 52.9 m | 177.5 m | 108.1 m | SEC (XBRL)· 23 Feb 2026verified |
| Income tax | 14.7 m | 59.4 m | 49.1 m | 58.0 m | 54.1 m | 34.8 m | SEC (XBRL)· 23 Feb 2026verified |
| Net income | 208.1 m | 134.9 m | 12.4 m | -5.2 m | 123.5 m | 73.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Diluted EPS | 3.73 | 2.02 | 0.21 | -0.09 | 2.21 | 1.25 | SEC (XBRL)· 23 Feb 2026verified |
| Weighted average diluted shares | 55.8 m | 66.8 m | 59.0 m | 55.0 m | 55.9 m | 58.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Dividend per share | 1.18 | 1.27 | 1.36 | 1.39 | 1.50 | 1.56 | SEC (XBRL)· 23 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 159.4 m | 108.3 m | 144.1 m | 93.7 m | 60.9 m | 120.5 m | SEC (XBRL)· 23 Feb 2026verified |
| Property, plant & equipment, net | 141.6 m | 308.1 m | 295.4 m | 273.1 m | 254.2 m | 310.1 m | SEC (XBRL)· 23 Feb 2026verified |
| Goodwill | 70.2 m | 289.8 m | 289.8 m | 289.8 m | 290.2 m | 488.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Intangibles (excl. goodwill) | 7.9 m | 425.2 m | 359.4 m | 301.4 m | 255.2 m | 349.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Total assets | 1.8 bn | 3.0 bn | 2.8 bn | 2.7 bn | 2.6 bn | 3.3 bn | SEC (XBRL)· 23 Feb 2026verified |
| Total liabilities | 1.2 bn | 2.5 bn | 2.2 bn | 2.2 bn | 2.0 bn | 2.6 bn | SEC (XBRL)· 23 Feb 2026verified |
| Equity | 592.1 m | 513.3 m | 525.1 m | 560.4 m | 629.0 m | 695.7 m | SEC (XBRL)· 23 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 236.5 m | 392.3 m | 468.5 m | 200.3 m | 104.7 m | 305.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Capex | 34.5 m | 62.5 m | 61.4 m | 53.4 m | 56.3 m | 66.9 m | SEC (XBRL)· 23 Feb 2026verified |
| Free cash flow | 202.0 m ≈ | 329.8 m ≈ | 407.1 m ≈ | 146.9 m ≈ | 48.4 m ≈ | 238.7 m ≈ | SEC (XBRL)· 23 Feb 2026derived |
| Investing cash flow | -20.6 m | -1.3 bn | -62.3 m | -51.0 m | -41.5 m | -403.7 m | SEC (XBRL)· 23 Feb 2026verified |
| Financing cash flow | -126.7 m | 892.8 m | -370.7 m | -202.1 m | -93.5 m | 156.5 m | SEC (XBRL)· 23 Feb 2026verified |
| Dividends paid | 63.1 m | 71.5 m | 79.2 m | 83.1 m | 82.3 m | 87.9 m | SEC (XBRL)· 23 Feb 2026verified |
| Share repurchases | 26.6 m | 390.1 m | 75.1 m | 50.0 m | 0 | 0 | SEC (XBRL)· 23 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 68 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet15
- Growth64
- Quality65
- Returns96
- Valuation75
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 14.47 – 40.41 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E14.47 – 40.41 (Mid 28.44)8 companies used · median multiple 15.0x · quartiles 7.6x – 21.3xAER, EQPT, KPLT, MGRC, PRG, SUNB, TRTN-PA, URI
- Dividend discount (DDM)20.50 – 27.57 (Mid 23.51)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 68/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 2.4% | 30 (vs peers) | 10% |
| FCF conversion · Quality | 389.2% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 3.4% | 28 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | 81.2% | 100 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.5x | 15 (on a fixed band) | 10% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 12.7x | 56 (vs peers) | 16% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 30.8% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 6.5% | 93 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 21.1% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial15/100 · 1/3 factors with a value
- Growth64/100 · 2/2 factors with a value
- Quality65/100 · 2/3 factors with a value
- Returns96/100 · 2/2 factors with a value
- Valuation75/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Upbound Group, Inc. (UPBD). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 4.7 bn USD in 2025; YoY growth 8.7%; net margin 2.4%; ROE 15.5%.
The estimated value range is 17.48–33.99 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 25.97 USD, the price of 24.14 USD leaves a potential of 7.6% (value / price − 1) and a margin of safety of 7.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 68/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 389.2%
- EPS CAGR 3Y: 81.2%
- FCF yield: 30.8%
- Shareholder yield (distributions): 6.5%
- Payout ratio (FCF): 21.1%
What contradicts it
- Net margin: 2.4%
- Revenue CAGR 3Y: 3.4%
- Interest coverage: 2.5x
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Current ratio, EV/EBITDA.
Versus the vertical median
Services-Equipment Rental & Leasing, NEC (SIC 7359) · same industry (4-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| URIUnited Rentals, Inc. | 69.6 bn | 24.4 | 30.6% | 16.3% | +4.9% | +38% / +136% |
| SUNBSunbelt Rentals Holdings, Inc. | 33.1 bn | 23.8 | 18.2% | 12.1% | +3.4% | unavailable / unavailable |
| AERAerCap Holdings N.V. | 27.7 bn | 7.8 | 21.1% | 44.0% | +6.5% | +24% / +143% |
| MGRCMcGRATH RENTCORP | 3.2 bn | 20.5 | 12.9% | 16.8% | +3.7% | +29% / +31% |
| TRTN-PATriton International Limited | 2.5 bn | 4.9 | 18.8% | 854.3% | +22.4% | −4% / −4% |
| CTOSCustom Truck One Source, Inc. | 2.3 bn | 76.7 | 3.7% | 1.4% | +7.9% | +59% / +74% |
| PRGProg Holdings, Inc. | 1.6 bn | 10.8 | 20.0% | 5.5% | +0.4% | +39% / +46% |
| UPBDUpbound Group, Inc. | 1.4 bn | 12.7 | 15.5% | 2.4% | +8.7% | +22% / −16% |
| EQPTEquipmentShare.com Inc | 1.2 bn | 19.2 | 7.4% | 1.3% | +16.3% | unavailable / unavailable |
| KPLTKatapult Holdings, Inc. | 50.0 m | 7.2 | — | 5.4% | +18.0% | +62% / −9% |
| EHGOEShallGo Inc. | — | — | -117.3% | -69.4% | +21.1% | −54% / unavailable |
1- and 3-year price returns: for UPBD from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 14.21 Total return -36% · Per year -36% | 25.14 Total return 11% · Per year 11% | 37.88 Total return 65% · Per year 65% |
| 3 years | 13.49 Total return -29% · Per year -11% | 26.88 Total return 32% · Per year 10% | 44.53 Total return 111% · Per year 28% |
| 5 years | 12.81 Total return -23% · Per year -5% | 28.75 Total return 55% · Per year 9% | 52.33 Total return 165% · Per year 21% |
- Exit P/E± 6.72
- Net margin± 4.70
- Annual revenue growth± 3.90
- Annual dilution± 0.40
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
In brief
Upbound Group is a technology and data-driven provider of accessible financial solutions that serve underserved consumers through lease-to-own offerings in its Acima and Rent-A-Center segments and the Brigit app. The company reported total revenues of 4695.061 million USD in fiscal 2025, and in 2026 it reaffirmed its adjusted EBITDA range, which shows how relevant its model remains for underserved US consumers.
SWOT
Strengths
- The company has a diversified mix of segments, from in-store leasing to digital products, and an extensive network of partner retailers 1.
- Operating cash flow is solid, and the company reaffirmed its 2026 guidance ranges 3.
- Its automated decisioning model allows customer approval without traditional credit checks 1.
Weaknesses
- Revenue at the Rent-A-Center segment declined, and same-store sales were affected in the past 1.
- The company carries significant debt, and servicing it is sensitive to variable interest rates 1.
- Reliance on third-party retailers and bank partners creates operational and reputational vulnerabilities 1.
Opportunities
- Growth in Brigit subscribers and expansion of financial products could diversify the company's revenue 3.
- Accelerating e-commerce at Rent-A-Center could widen the customer base and improve the customer experience 1.
- Reducing lease losses and improving Acima portfolio quality could support margins over the medium term 3.
Risks
- Sensitivity to consumer economicshigh
Customer demand and payments depend on income, inflation and access to credit, factors the company does not control and which could worsen results if they deteriorate 1.
- Strict regulationhigh
Lease-to-own and Brigit products are subject to changing federal and state rules, and changed interpretations could require costly alterations to business practices 1.
- Automated decisioning modelsmedium
Approval algorithms may become less indicative if customer behaviour changes suddenly, which could increase losses 1.
- Brigit integrationmedium
Realising the benefits and synergies of the Brigit acquisition could take longer than expected, and retaining key personnel remains a challenge 2.
- Data security and information systemsmedium
A system failure or security breach at the company or its partners could lead to significant liability and loss of customer trust 1.
Investment thesis
What would need to be true (bull case)
- If the Brigit segment sustains its subscriber growth, the company could diversify revenue beyond leasing and reduce reliance on a single business model 3.
- Better Acima portfolio quality and EBITDA margins could support cash generation and debt reduction in the coming period 3.
- Rent-A-Center has posted same-store sales growth, which could indicate stabilisation of a significant part of its network 3.
What would break the thesis
- If economic pressure on consumers intensifies, lease losses could rise and weigh on the company's operating results 1.
- A stricter regulatory framework could impose extra compliance costs or product changes, which could compress margins 1.
- Significant debt and exposure to variable interest rates could limit financial flexibility if funding costs rise 1.
What to watch
- Delivery of 2026 revenue and adjusted EBITDA guidance2026
- Trend in Brigit paying subscribers and ARPUQ3 2026
- Acima lease charge-off rate and Rent-A-Center same-store sales trendQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 31 Jul 2026; since then the company filed 10-Q (30 Oct 2026), 8-K (29 Oct 2026 · results).
The business
Upbound Group, Inc. is a provider of accessible and inclusive financial solutions, headquartered in Plano, Texas and listed on Nasdaq under the ticker UPBD. Its operations center on lease-to-own, which gives consumers with imperfect credit histories access to name-brand products with no long-term obligation 1.
The company reports four segments: Acima, which provides leasing through third-party retailers in stores and online; Rent-A-Center, which includes company-owned stores, franchises and the e-commerce platform; Brigit, acquired on January 31 2025, with financial wellness products such as earned wage access; and Mexico, with company-owned stores 1. Customers may return the product without penalty, and title transfers after lease renewals or an early purchase option 1.
Strategic priorities include growing penetration with Acima retailers, expanding Brigit products, accelerating e-commerce at Rent-A-Center and using data analytics for customer approval and risk mitigation 1. Results for the second quarter of 2026 show Brigit continuing to grow, while Rent-A-Center posted its third consecutive quarter of same-store sales growth 3.
Segments
Rent-A-Center
The Rent-A-Center segment combines company-owned stores, franchises and the online platform, and its revenue declined in fiscal 2025 due to lower same-store sales and a smaller store count 1. E-commerce is a growing share of lease-to-own revenue, but the company cannot quantify how much of it is incremental 1.
Brigit
The Brigit segment, acquired on January 31 2025, offers mobile apps with budgeting tools, earned wage access advances and credit-building products 1. Revenue and paying subscriber growth in the second quarter of 2026 point to a solid trajectory, but the segment depends on regulation and on bank partners 3.
Market context
Upbound's target market is consumers with limited access to traditional credit who seek durable brand-name goods without paying the full price upfront. The company operates in the United States, Puerto Rico and Mexico and describes a competitive field spanning in-store leasing and digital financial services 1.
Demand is shaped by disposable income, inflation, interest rate levels and tariff policy, factors the company says lie outside its control 1. Lease charge-offs and the ability to assess risk accurately are central to margins across the industry 3.
Trends
- Improving portfolio qualitytailwind
In the second quarter of 2026, Acima's lease charge-off rate improved, suggesting better risk management, although this could reverse if consumer conditions worsen 3.
- Growth of Brigit digital servicestailwind
Brigit's paying subscribers rose significantly, which points to demand for digital financial wellness products and diversification of revenue beyond leasing 3.
- Macroeconomic pressure and tariffsheadwind
Tariff policy and inflation could reduce consumers' discretionary income, which could lower demand for the company's products or raise losses, according to warnings in the annual report 1.
- E-commerce and store transformationmixed
The shift to e-commerce at Rent-A-Center may improve the customer experience, but the profitability of these transactions differs from store-based ones, so the final effect remains uncertain 1.
Competitive position
The lease-to-own and accessible financial services industry is highly competitive, according to the company, which says this could affect transaction volumes and pricing 1. Competition comes from in-store lease operators as well as earned wage access providers and digital consumer credit firms.
Upbound differentiates through automated decisioning technology and its network of partner retailers, but dependence on these elements and on federal and state rules creates competitive vulnerabilities 1.
- In-store lease-to-own operators
Direct competitors for customers who do not qualify for traditional financing, referred to generically in the company's report 1.
- Earned wage access providers
Digital companies offering early access to wages, competing with the Brigit product in accessible financial services 1.
- Online buy-now-pay-later platforms
Online installment purchase options that compete for the same consumers served by Acima and Rent-A-Center 1.
- Consumer goods retail chains
Electronics, furniture and appliance sellers that could attract potential customers of Acima's partner retailers 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Why Upbound Group (UPBD) Could Be an Undervalued Stock to WatchYahoo Finance — News · 01 Sept 2026 · EN
- Upbound Group Says Data Breach Led to $13 Million in Fraudulent Contract LossesSecurityWeek · 23 Jul 2026 · RO
- Upbound says hack caused $13 million in fraudulent Acima leasesBleepingComputer · 22 Jul 2026 · RO
The latest news item in our archive is from 01 Sept 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report30 Oct 2026
- Current report29 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report22 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report31 Jul 2026
- Current report30 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report22 Jul 2026Other events
- Current report03 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Current report19 May 2026Departure or appointment of officers
- Quarterly report01 May 2026
- Current report30 Apr 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Upbound Group, Inc. · 23 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Upbound Group, Inc. · 31 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Upbound Group, Inc. · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.