TORVANTA
Other · S&P 500 · data as of 2026-10-05

UPWK stock analysis: UPWK

UPWK (UPWK) is an S&P 500 company in Other. It grades strongest on value and weakest on growth and momentum.

The model's view of UPWK · subscribers

Where UPWK ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with UPWK · updated 2026-10-05 · from prices and SEC filings

UPWK price performance

UPWK against the S&P 500, one year
-50%-25%+0%S&P 500 +18%UPWK -56%2025-09-292026-10-05
Year to date-57.8%S&P 500 +14.5% · behind by 72.3 pts
1 year-51.6%S&P 500 +17.0% · behind by 68.6 pts
3 years-22.2%S&P 500 +89.3% · behind by 111.5 pts
5 years-82.1%S&P 500 +91.3% · behind by 173.5 pts

Total returns with dividends reinvested.

UPWK factor grades

Each grade compares UPWK with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

A-ValueP/E 10.9x (industry 20.1x)FCF yield 19.6% (industry 6.0%)
D+GrowthRevenue growth +2% (industry +8%)EPS growth -55% (industry +10%)
BProfitabilityOperating margin 15.1% (industry 9.6%)ROIC 10.1% (industry 10.1%)
DMomentum12-month change -52%From 52-wk high -62%

UPWK in plain numbers

UPWK key statistics

SectorOther
Industryn/a
IndexS&P 500
Market value$1.0B
Revenue growth (y/y)+2%
Free-cash-flow yield19.6%
Dividend yieldn/a
Next earnings (expected)2026-11-02
Valuation measures
Market value$1.0B
Enterprise value$1.3B
P/E (trailing)10.9x
Forward P/E (Torvanta estimate)11.4x
Price / sales1.3x
Price / book1.7x
EV / revenue1.6x
EV / EBITDA8.5x
Financial highlights
Revenue, last 12 months$787.3M
Net income, last 12 months$101.8M
EPS, last 12 months (GAAP)$0.77
Gross margin77.2%
Operating margin15.1%
Net margin12.9%
Return on equity16.7%
Return on invested capital10.1%
Cash$476.0M
Total debt$721.4M
Debt / equity1.18x
Free cash flow, last 12 months$204.4M
Current ratio1.42x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

UPWK earnings trends

Revenue vs earnings
$0$50.4M$100.9M$151.3M$201.7MSep 2024 Revenue: $193.8MDec 2024 Revenue: $191.5MMar 2025 Revenue: $192.7MJun 2025 Revenue: $194.9MSep 2025 Revenue: $201.7MDec 2025 Revenue: $198.4MMar 2026 Revenue: $195.5MJun 2026 Revenue: $191.7MSep 2024 Net income: $27.8MDec 2024 Net income: $147.2MMar 2025 Net income: $37.7MJun 2025 Net income: $32.7MSep 2025 Net income: $29.3MDec 2025 Net income: $15.6MMar 2026 Net income: $31.5MJun 2026 Net income: $25.4MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 14.3%Net margin: 76.9%Net margin: 19.6%Net margin: 16.8%Net margin: 14.5%Net margin: 7.9%Net margin: 16.1%Net margin: 13.3%0%38%77%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.3$0.5$0.8$1.0Sep 2024 EPS (GAAP, diluted): $0.2Dec 2024 EPS (GAAP, diluted): $1.0Mar 2025 EPS (GAAP, diluted): $0.3Jun 2025 EPS (GAAP, diluted): $0.2Sep 2025 EPS (GAAP, diluted): $0.2Dec 2025 EPS (GAAP, diluted): $0.1Mar 2026 EPS (GAAP, diluted): $0.2Jun 2026 EPS (GAAP, diluted): $0.2Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 +5% · Dec 2025 -88% · Mar 2026 -11% · Jun 2026 -17%

From the company's 10-Q and 10-K filings with the SEC.

UPWK financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$502.8M$618.3M$689.1M$769.3M$787.8M
Net income-$56.2M-$89.9M$46.9M$215.6M$115.4M
EPS (GAAP)$-0.43$-0.69$0.06$1.52$0.84
Free cash flow$9.8M$5.3M$26.5M$150.0M$242.5M

UPWK earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-08-10$0.20-17%-2%-13.2%
2026-05-07$0.24-11%+1%-13.0%
2026-02-09$0.12-88%+4%-19.9%
2025-11-03$0.21+5%+4%+12.0%
2025-08-06$0.24+41%+1%+13.6%
2025-05-05$0.27+108%+1%+18.0%

About UPWK

HeadquartersPalo Alto, CA
Industry (SEC code)Services-Computer Processing & Data Preparation
Fiscal year endsDecember 31
Incorporated inDE
Listed onNasdaq
FormerlyUpwork Inc.

From the company's SEC registration record.

Companies similar to UPWK

CompanyMarket valueP/ERevenue growthOperating margin12-month change
UPWK UPWK$1.0B10.9x+2%15.1%-52%
DLX DLX$1.0B10.4x+0%11.9%+22%compare
UVV UVV$1.1B55.4x-4%4.9%-19%compare
IART IART$1.0Bn/a+2%4.0%-10%compare
WINA WINA$1.1B26.7x+4%62.3%-41%
UTI UTI$1.1B31.4x+9%5.0%-39%
TRIP TRIP$1.0B146.5x-4%2.7%-45%

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Frequently asked questions

Is UPWK stock a buy?

Torvanta does not tell individuals what to buy. Its grades for UPWK are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is UPWK's P/E ratio?

UPWK trades at about 10.9 times its last 12 months of GAAP earnings reported to the SEC, and about 11.4 times Torvanta's own estimate of the next 12 months.

When does UPWK report earnings next?

Based on its filing history, Torvanta expects UPWK to report around 2026-11-02.

How has UPWK performed against the S&P 500?

Over the past year UPWK returned -51.6%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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