Upwork Inc. (UPWK)

Upwork Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb 23, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Capitalization	1,631	2,590	2,185	2,024	1,371	4,380
Market Cap Growth	-22.52%	18.49%	7.98%	47.60%	-68.70%	3.95%
Enterprise Value	1,329	2,318	1,954	1,838	1,278	4,269
Last Close Price	12.51	19.82	16.35	14.87	10.44	34.16
PE Ratio	14.98	22.44	10.14	43.17	-	-
Forward PE	8.68	14.36	14.24	21.66	-	-
PS Ratio	2.07	3.29	2.84	2.94	2.22	8.71
PB Ratio	2.59	4.11	3.80	5.31	5.51	16.88
P/TBV Ratio	3.67	5.83	4.95	7.79	10.50	31.00
P/FCF Ratio	6.73	10.68	14.57	38.91	133.79	446.58
P/OCF Ratio	6.57	10.43	14.23	38.40	119.27	404.25
PEG Ratio	-	0.22	0.22	0.22	-	-
EV/Sales Ratio	1.69	2.94	2.54	2.67	2.07	8.49
EV/EBITDA Ratio	9.14	15.94	21.99	-	-	-
EV/EBIT Ratio	9.94	17.33	23.22	-	-	-
EV/FCF Ratio	5.48	9.56	13.02	35.33	124.70	435.16
Debt / Equity Ratio	0.59	0.59	0.64	0.96	2.34	2.25
Debt / EBITDA Ratio	2.53	2.53	3.98	-	-	-
Debt / FCF Ratio	1.53	1.53	2.46	7.00	56.78	59.58
Net Debt / Equity Ratio	-0.48	-0.48	-0.44	-0.49	-0.42	-0.39
Net Debt / EBITDA Ratio	-2.07	-2.07	-2.85	22.36	1.17	2.44
Net Debt / FCF Ratio	-1.24	-1.24	-1.69	-3.57	-10.21	-10.24
Asset Turnover	0.63	0.63	0.68	0.65	0.57	0.62
Quick Ratio	1.15	1.15	2.60	2.23	3.03	3.22
Current Ratio	1.46	1.46	3.39	3.02	3.76	3.98
Return on Equity (ROE)	19.15%	19.15%	45.08%	14.89%	-35.36%	-20.13%
Return on Assets (ROA)	6.66%	6.66%	4.68%	-0.66%	-5.36%	-3.53%
Return on Invested Capital (ROIC)	29.43%	30.95%	32.51%	-6.36%	-61.07%	-28.09%
Return on Capital Employed (ROCE)	20.60%	20.60%	8.90%	-1.50%	-11.10%	-5.40%
Earnings Yield	7.08%	4.46%	9.87%	2.32%	-6.55%	-1.28%
FCF Yield	14.87%	9.36%	6.87%	2.57%	0.75%	0.22%
Buyback Yield / Dilution	1.74%	1.74%	-4.29%	-5.17%	-2.64%	-7.13%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q