Upwork Ratios and Metrics

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jan '26 Jan 30, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Market Capitalization	2,617	2,185	2,024	1,371	4,380	4,214
Market Cap Growth	14.97%	7.98%	47.60%	-68.70%	3.95%	252.56%
Enterprise Value	2,345	1,954	1,838	1,278	4,269	4,096
Last Close Price	20.03	16.35	14.87	10.44	34.16	34.52
PE Ratio	11.54	10.14	43.17	-	-	-
Forward PE	14.66	14.24	21.66	-	-	-
PS Ratio	3.42	2.84	2.94	2.22	8.71	11.28
PB Ratio	4.19	3.80	5.31	5.51	16.88	14.08
P/TBV Ratio	5.97	4.95	7.79	10.50	31.00	23.36
P/FCF Ratio	12.10	14.57	38.91	133.79	446.58	262.64
P/OCF Ratio	11.73	14.23	38.40	119.27	404.25	188.42
PEG Ratio	-	0.22	0.22	-	-	-
EV/Sales Ratio	3.00	2.54	2.67	2.07	8.49	10.96
EV/EBITDA Ratio	15.85	21.99	-	-	-	-
EV/EBIT Ratio	17.00	23.22	-	-	-	-
EV/FCF Ratio	10.84	13.02	35.33	124.70	435.16	255.27
Debt / Equity Ratio	0.59	0.64	0.96	2.34	2.25	0.12
Debt / EBITDA Ratio	2.45	3.98	-	-	-	-
Debt / FCF Ratio	1.72	2.46	7.00	56.78	59.58	2.18
Asset Turnover	0.66	0.68	0.65	0.57	0.62	0.77
Quick Ratio	1.09	2.60	2.23	3.03	3.22	1.09
Current Ratio	1.44	3.39	3.02	3.76	3.98	1.82
Return on Equity (ROE)	47.52%	45.08%	14.89%	-35.36%	-20.13%	-8.19%
Return on Assets (ROA)	7.26%	4.68%	-0.66%	-5.36%	-3.53%	-2.87%
Return on Invested Capital (ROIC)	39.35%	32.51%	-6.36%	-61.07%	-28.09%	-13.46%
Return on Capital Employed (ROCE)	21.20%	8.90%	-1.50%	-11.10%	-5.40%	-6.80%
Earnings Yield	9.44%	9.87%	2.32%	-6.55%	-1.28%	-0.54%
FCF Yield	8.26%	6.87%	2.57%	0.75%	0.22%	0.38%
Buyback Yield / Dilution	-1.51%	-4.29%	-5.17%	-2.64%	-7.13%	-8.09%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q