UPWORK INC (UPWK) Fundamental Analysis & Valuation

NASDAQ:UPWK • US91688F1049

13.43 USD
+0.3 (+2.28%)
At close: Mar 4, 2026
13.45 USD
+0.02 (+0.15%)
After Hours: 3/4/2026, 8:00:01 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This UPWK fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to UPWK. UPWK was compared to 88 industry peers in the Professional Services industry. UPWK has an excellent financial health rating, but there are some minor concerns on its profitability. UPWK scores decently on growth, while it is valued quite cheap. This could make an interesting combination. These ratings would make UPWK suitable for value investing!


Dividend Valuation Growth Profitability Health

6

1. UPWK Profitability Analysis

1.1 Basic Checks

  • In the past year UPWK was profitable.
  • UPWK had a positive operating cash flow in the past year.
  • In multiple years UPWK reported negative net income over the last 5 years.
  • In the past 5 years UPWK always reported a positive cash flow from operatings.
UPWK Yearly Net Income VS EBIT VS OCF VS FCFUPWK Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M 200M

1.2 Ratios

  • UPWK has a better Return On Assets (8.88%) than 77.27% of its industry peers.
  • UPWK has a better Return On Equity (18.31%) than 68.18% of its industry peers.
  • With an excellent Return On Invested Capital value of 15.51%, UPWK belongs to the best of the industry, outperforming 80.68% of the companies in the same industry.
Industry RankSector Rank
ROA 8.88%
ROE 18.31%
ROIC 15.51%
ROA(3y)10.4%
ROA(5y)3.53%
ROE(3y)22.69%
ROE(5y)2.06%
ROIC(3y)N/A
ROIC(5y)N/A
UPWK Yearly ROA, ROE, ROICUPWK Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20

1.3 Margins

  • UPWK's Profit Margin of 14.65% is amongst the best of the industry. UPWK outperforms 82.95% of its industry peers.
  • UPWK has a Operating Margin of 16.97%. This is in the better half of the industry: UPWK outperforms 79.55% of its industry peers.
  • UPWK's Gross Margin of 77.82% is amongst the best of the industry. UPWK outperforms 92.05% of its industry peers.
  • In the last couple of years the Gross Margin of UPWK has grown nicely.
Industry RankSector Rank
OM 16.97%
PM (TTM) 14.65%
GM 77.82%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.66%
GM growth 5Y1.54%
UPWK Yearly Profit, Operating, Gross MarginsUPWK Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

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ROAROEROICOperating and Profit MarginShow most profitable peers

7

2. UPWK Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), UPWK is creating value.
  • Compared to 1 year ago, UPWK has less shares outstanding
  • UPWK has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, UPWK has an improved debt to assets ratio.
UPWK Yearly Shares OutstandingUPWK Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
UPWK Yearly Total Debt VS Total AssetsUPWK Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.2 Solvency

  • An Altman-Z score of 2.80 indicates that UPWK is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • UPWK has a Altman-Z score (2.80) which is comparable to the rest of the industry.
  • UPWK has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 1.61
Altman-Z 2.8
ROIC/WACC1.97
WACC7.86%
UPWK Yearly LT Debt VS Equity VS FCFUPWK Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M 400M 600M

2.3 Liquidity

  • A Current Ratio of 1.46 indicates that UPWK should not have too much problems paying its short term obligations.
  • UPWK has a Current ratio (1.46) which is comparable to the rest of the industry.
  • A Quick Ratio of 1.46 indicates that UPWK should not have too much problems paying its short term obligations.
  • UPWK has a Quick ratio (1.46) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.46
Quick Ratio 1.46
UPWK Yearly Current Assets VS Current LiabilitesUPWK Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. UPWK Growth Analysis

3.1 Past

  • UPWK shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 31.78%, which is quite impressive.
  • UPWK shows a small growth in Revenue. In the last year, the Revenue has grown by 2.40%.
  • Measured over the past years, UPWK shows a quite strong growth in Revenue. The Revenue has been growing by 16.09% on average per year.
EPS 1Y (TTM)31.78%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%20%
Revenue 1Y (TTM)2.4%
Revenue growth 3Y8.41%
Revenue growth 5Y16.09%
Sales Q2Q%3.62%

3.2 Future

  • Based on estimates for the next years, UPWK will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.38% on average per year.
  • Based on estimates for the next years, UPWK will show a quite strong growth in Revenue. The Revenue will grow by 10.31% on average per year.
EPS Next Y2.71%
EPS Next 2Y9.25%
EPS Next 3Y13.01%
EPS Next 5Y13.38%
Revenue Next Year7.13%
Revenue Next 2Y10.18%
Revenue Next 3Y10.87%
Revenue Next 5Y10.31%

3.3 Evolution

  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
UPWK Yearly Revenue VS EstimatesUPWK Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M 800M 1B
UPWK Yearly EPS VS EstimatesUPWK Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.5 1 1.5 2 2.5

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Find the best growth stocksShow best growing peers

8

4. UPWK Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 9.52, the valuation of UPWK can be described as reasonable.
  • 85.23% of the companies in the same industry are more expensive than UPWK, based on the Price/Earnings ratio.
  • UPWK's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.03.
  • The Price/Forward Earnings ratio is 9.27, which indicates a very decent valuation of UPWK.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of UPWK indicates a rather cheap valuation: UPWK is cheaper than 84.09% of the companies listed in the same industry.
  • UPWK is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.11, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 9.52
Fwd PE 9.27
UPWK Price Earnings VS Forward Price EarningsUPWK Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 87.50% of the companies in the same industry are more expensive than UPWK, based on the Enterprise Value to EBITDA ratio.
  • 88.64% of the companies in the same industry are more expensive than UPWK, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 7.86
EV/EBITDA 6.42
UPWK Per share dataUPWK EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The decent profitability rating of UPWK may justify a higher PE ratio.
  • A more expensive valuation may be justified as UPWK's earnings are expected to grow with 13.01% in the coming years.
PEG (NY)3.52
PEG (5Y)N/A
EPS Next 2Y9.25%
EPS Next 3Y13.01%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. UPWK Dividend Analysis

5.1 Amount

  • No dividends for UPWK!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

UPWK Fundamentals: All Metrics, Ratios and Statistics

UPWORK INC

NASDAQ:UPWK (3/4/2026, 8:00:01 PM)

After market: 13.45 +0.02 (+0.15%)

13.43

+0.3 (+2.28%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryProfessional Services
Earnings (Last)02-09
Earnings (Next)05-04
Inst Owners96.68%
Inst Owner Change1.76%
Ins Owners5.03%
Ins Owner Change-10.87%
Market Cap1.75B
Revenue(TTM)787.78M
Net Income(TTM)115.42M
Analysts77.65
Price Target22.13 (64.78%)
Short Float %16.11%
Short Ratio5.42
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)18.32%
Min EPS beat(2)13.12%
Max EPS beat(2)23.51%
EPS beat(4)4
Avg EPS beat(4)22.4%
Min EPS beat(4)13.12%
Max EPS beat(4)28.7%
EPS beat(8)8
Avg EPS beat(8)18.53%
EPS beat(12)12
Avg EPS beat(12)210.89%
EPS beat(16)16
Avg EPS beat(16)185.65%
Revenue beat(2)1
Avg Revenue beat(2)0.39%
Min Revenue beat(2)-1.52%
Max Revenue beat(2)2.29%
Revenue beat(4)3
Avg Revenue beat(4)0.73%
Min Revenue beat(4)-1.52%
Max Revenue beat(4)2.29%
Revenue beat(8)6
Avg Revenue beat(8)0.96%
Revenue beat(12)9
Avg Revenue beat(12)1.02%
Revenue beat(16)11
Avg Revenue beat(16)1.01%
PT rev (1m)-7.26%
PT rev (3m)-2.69%
EPS NQ rev (1m)-18.74%
EPS NQ rev (3m)-17.41%
EPS NY rev (1m)0%
EPS NY rev (3m)8.19%
Revenue NQ rev (1m)-2.3%
Revenue NQ rev (3m)-2.03%
Revenue NY rev (1m)0.83%
Revenue NY rev (3m)3.48%
Valuation
Industry RankSector Rank
PE 9.52
Fwd PE 9.27
P/S 2.23
P/FCF 7.86
P/OCF 7.07
P/B 2.78
P/tB 3.95
EV/EBITDA 6.42
EPS(TTM)1.41
EY10.5%
EPS(NY)1.45
Fwd EY10.78%
FCF(TTM)1.71
FCFY12.72%
OCF(TTM)1.9
OCFY14.15%
SpS6.03
BVpS4.82
TBVpS3.4
PEG (NY)3.52
PEG (5Y)N/A
Graham Number12.37
Profitability
Industry RankSector Rank
ROA 8.88%
ROE 18.31%
ROCE 20.59%
ROIC 15.51%
ROICexc N/A
ROICexgc N/A
OM 16.97%
PM (TTM) 14.65%
GM 77.82%
FCFM 28.32%
ROA(3y)10.4%
ROA(5y)3.53%
ROE(3y)22.69%
ROE(5y)2.06%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.66%
GM growth 5Y1.54%
F-Score6
Asset Turnover0.61
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 1.61
Debt/EBITDA 0
Cap/Depr 97.78%
Cap/Sales 3.19%
Interest Coverage 250
Cash Conversion 155.73%
Profit Quality 193.3%
Current Ratio 1.46
Quick Ratio 1.46
Altman-Z 2.8
F-Score6
WACC7.86%
ROIC/WACC1.97
Cap/Depr(3y)122.78%
Cap/Depr(5y)107.3%
Cap/Sales(3y)2.48%
Cap/Sales(5y)2.01%
Profit Quality(3y)93.67%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)31.78%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%20%
EPS Next Y2.71%
EPS Next 2Y9.25%
EPS Next 3Y13.01%
EPS Next 5Y13.38%
Revenue 1Y (TTM)2.4%
Revenue growth 3Y8.41%
Revenue growth 5Y16.09%
Sales Q2Q%3.62%
Revenue Next Year7.13%
Revenue Next 2Y10.18%
Revenue Next 3Y10.87%
Revenue Next 5Y10.31%
EBIT growth 1Y105.05%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year22.97%
EBIT Next 3Y20.23%
EBIT Next 5Y18.06%
FCF growth 1Y60.38%
FCF growth 3YN/A
FCF growth 5Y94.58%
OCF growth 1Y61.67%
OCF growth 3Y235.74%
OCF growth 5Y61.83%

UPWORK INC / UPWK FAQ

What is the ChartMill fundamental rating of UPWORK INC (UPWK) stock?

ChartMill assigns a fundamental rating of 6 / 10 to UPWK.


What is the valuation status of UPWORK INC (UPWK) stock?

ChartMill assigns a valuation rating of 8 / 10 to UPWORK INC (UPWK). This can be considered as Undervalued.


How profitable is UPWORK INC (UPWK) stock?

UPWORK INC (UPWK) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for UPWK stock?

The Price/Earnings (PE) ratio for UPWORK INC (UPWK) is 9.52 and the Price/Book (PB) ratio is 2.78.


What is the earnings growth outlook for UPWORK INC?

The Earnings per Share (EPS) of UPWORK INC (UPWK) is expected to grow by 2.71% in the next year.