What are Upwork Inc.'s profit margins?

Upwork Inc. (UPWK) runs a 77.5% gross margin and a 15.6% operating margin, with a 13.8% net margin.

Where do Upwork Inc.'s ratios come from?

Every ratio is computed from Upwork Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Upwork Inc. UPWK Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	77.8%+0.4pp	77.4%+2.1pp	75.3%+1.2pp	74.1%+1.0pp
Operating margin	16.4%+7.9pp	8.5%—	——	-15%-4.2pp
Net margin	14.7%-13.4pp	28%+21.2pp	6.8%+21.3pp	-14.5%-3.4pp
EBITDA margin	19.7%+9.3pp	10.4%+9.6pp	0.8%+14.5pp	-13.7%—
Free cash flow margin	30.8%+11.3pp	19.5%+12.0pp	7.5%+5.9pp	1.7%—
Returns
Return on equity	19.1%-25.9pp	45.1%+30.2pp	14.9%+50.2pp	-35.4%-15.2pp
Return on assets	9.2%-10.0pp	19.2%+14.7pp	4.4%+12.7pp	-8.3%-1.3pp
Return on invested capital	20.3%+5.6pp	14.6%+15.3pp	-0.7%+13.0pp	-13.6%-1.5pp
Efficiency
Asset turnover	0.6×-0.1×	0.7×0.0×	0.7×+0.1×	0.6×-0.1×
Liquidity
Current ratio	1.5×-1.9×	3.4×+0.4×	3×-0.7×	3.8×-0.2×
Quick ratio	1.5×-1.9×	3.4×+0.4×	3×-0.7×	3.8×-0.2×
Cash ratio	0.7×-1.1×	1.9×+0.9×	1×+0.5×	0.5×-0.3×
Leverage
Debt-to-equity	0.6×-0.1×	0.6×-0.3×	1×-1.4×	2.3×+0.1×
Debt-to-assets	0.3×0.0×	0.3×0.0×	0.4×-0.2×	0.5×0.0×
Net debt / EBITDA	-0.7×+1.0×	-1.7×-14.5×	12.8×—	——
Per Share
Book value per share	$4.48+11.5%	$4.02+44.8%	$2.78+45.6%	$1.91-6.6%
Valuation
Market capitalization	$970.85M-43.9%	$2.19B+7.6%	$2.03B+48.2%	$1.37B-68.7%
Enterprise value	$1.17B-25.4%	$2.05B-2.6%	$2.1B+15.3%	$1.82B-61.8%
Price / earnings	8.9×+1.5×	10.1×-33.2×	43.3×—	——
Price / sales	1.2×-1.0×	2.8×-0.1×	2.9×+0.7×	2.2×-6.5×
Price / book	1.7×-1.2×	3.8×-1.5×	5.3×-0.2×	5.5×-11.4×
EV / EBITDA	7.7×-7.0×	25.6×-351×	377×—	——
EV / sales	1.5×-0.6×	2.7×-0.4×	3.1×+0.1×	2.9×-6.6×
Free cash flow yield	23.6%+13.8pp	6.9%+4.3pp	2.6%+1.8pp	0.7%—
Earnings yield	11.2%-2.3pp	9.9%+7.6pp	2.3%+8.9pp	-6.6%-5.3pp

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Questions, answered.

What are Upwork Inc.'s profit margins?: Upwork Inc. (UPWK) runs a 77.5% gross margin and a 15.6% operating margin, with a 13.8% net margin.
Where do Upwork Inc.'s ratios come from?: Every ratio is computed from Upwork Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.