Upwork Financial Ratios
NASDAQ: UPWKTechnologyEDP ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Upwork ratio analysis
Upwork earned a net margin of 14.7% in FY 2025, down from 28.0% a year earlier. Gross margin was 77.8% compared with a median of 72.1% over the prior 9 years. Return on equity reached 18.3%, meaning Upwork generated 0.18 dollars of profit for every dollar of shareholders' equity.
Debt-to-equity stood at 0.57 versus 0.62 the year before, and the current ratio was 1.46. At the end of FY 2025, UPWK traded at 23.6 times earnings; across the 3 fiscal years shown, its year-end P/E ranged from 10.6 to 247.8, with a median of 23.6. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
Upwork financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 23.62 | 10.60 | 247.83 | — | — | — | — | — | — | — |
| Price / sales | 3.34 | 2.80 | 2.91 | 2.20 | 8.64 | 10.97 | 3.69 | 3.84 | — | — |
| Price / book | 4.17 | 3.74 | 5.26 | 5.47 | 16.74 | 13.69 | 4.27 | 3.99 | — | — |
| Gross margin | 77.8% | 77.4% | 75.3% | 74.1% | 73.0% | 72.1% | 70.7% | 67.8% | 67.7% | 61.9% |
| Operating margin | 16.4% | 8.5% | -1.6% | -15.0% | -10.8% | -6.0% | -6.2% | -4.6% | -1.5% | -8.8% |
| Net margin | 14.7% | 28.0% | 6.8% | -14.5% | -11.2% | -6.1% | -5.5% | -7.9% | -2.0% | -9.9% |
| Free cash flow margin | 30.8% | 19.5% | 7.5% | 1.7% | 2.0% | 4.3% | -3.2% | 4.2% | -2.9% | 1.4% |
| Return on equity (ROE) | 18.3% | 37.5% | 12.3% | -36.1% | -21.7% | -7.6% | -6.4% | -8.2% | — | — |
| Return on assets (ROA) | 8.9% | 17.8% | 4.5% | -8.3% | -5.2% | -4.3% | -3.7% | -5.1% | -1.5% | — |
| Debt / equity | 0.57 | 0.62 | 0.93 | 2.27 | 2.16 | 0.04 | 0.07 | 0.10 | — | — |
| Current ratio | 1.46 | 3.39 | 3.01 | 3.76 | 3.98 | 1.82 | 1.88 | 2.01 | 1.26 | — |
| Revenue growth | 2.4% | 11.6% | 11.5% | 23.0% | 34.6% | 24.3% | 18.6% | 25.1% | 23.2% | — |
| EPS growth | -44.7% | 2,433.3% | — | — | — | — | — | — | — | — |