profit from every $100 of sales.
$0$100
Upwork
$9.93+0.66% today
-41.8% in 1 year
1-year low $7.841-year high $22.11
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay $10.82 for every $1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Upwork sold, what it kept, and what it did with the cash.
Sales went from $618 million in 2022 to $788 million in 2025, with $115 million of profit last year.
SalesProfit
Upwork handed back 61% of the cash it generated last year.
Buybacks $136M
Free cash flow 2025$223M
Bought back its own shares$136M
Paid as dividends–
Cash vs. debt$294M vs. $371M
Upwork vs. similar companies
Upwork grows in the middle of these 5 and is the cheapest for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Upwork | 10.8× · Cheap | ||
 Robert Half International | 32.3× · Expensive | ||
 Korn Ferry | 14.9× · Cheap | ||
 TriNet Group | 19.5× · Fair price | ||
 ManpowerGroup | No profit yet |
AI analysis
An AI analyst reads Upwork's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 618 | 689 | 769 | 788 | |
| 458 | 519 | 595 | 613 | |
| -93 | -11 | 65 | 129 | |
| -81 | 1 | 83 | 156 | |
| -90 | 47 | 216 | 115 | |
| -0.69 | 0.06 | 1.52 | 0.84 | |
| 74.1% | 75.3% | 77.4% | 77.8% | |
| -15.0% | -1.6% | 8.5% | 16.4% | |
| -14.5% | 6.8% | 28.0% | 14.7% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 1,080 | 1,038 | 1,212 | 1,300 |
| Cash | 129 | 80 | 306 | 294 |
| Total debt | 582 | 368 | 369 | 371 |
| Total liabilities | 831 | 656 | 636 | 669 |
| 249 | 381 | 575 | 630 | |
| 131 | 137 | 143 | 141 | |
| -8.8% | -1.2% | 5.5% | 10.2% | |
| -36.1% | 12.3% | 37.5% | 18.3% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 11 | 53 | 154 | 248 | |
| 9 | 16 | 14 | 25 | |
| 3 | 36 | 139 | 223 | |
| Dividends paid | – | – | – | – |
| 0 | 0 | 100 | 136 | |
| 76 | 74 | 68 | 65 |
Valuation
- 10.8×
- 6.9×
- –
- 2.0×
- 1.6×
- 5.6×
- 8.5×
- 17.9%
- 9.2%
- 0.0%
Profitability
- 77.8%
- 16.4%
- 14.7%
- 20.5%
- 9.7%
- 4.6%
- 17.9%
- 8.8%
- 20.7%
- 23.6%
Growth
- +8.4%
- –
- +74.3%
- –
- +0.7%
Financial health
- 0.3×
- 0.66
- 30.2%
- 88.1×
- 1.36
- 1.36
- 0.64
How it ranks in Industrials
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 38%of 982
Top 18%of 991
Top 12%of 875
Top 41%of 988
Top 5%of 988
What analysts expect
- Average price target
- $24.17
- Range
- $20.00 – $27.00
- 4 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 7, 2026 | 0.24 | 0.25 | −4.0% |
| Feb 9, 2026 | 0.12 | 0.23 | −47.8% |
| Nov 3, 2025 | 0.21 | 0.25 | −16.0% |
| Aug 6, 2025 | 0.35 | 0.26 | +34.6% |
| May 5, 2025 | 0.34 | 0.25 | +36.0% |
| Feb 12, 2025 | 0.30 | 0.24 | +25.0% |
| Nov 6, 2024 | 0.29 | 0.23 | +26.1% |
| Aug 7, 2024 | 0.26 | 0.23 | +13.0% |
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
3/7Passes 3 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
67Pass
Benjamin Graham
56No pass
Philip Fisher
61Pass
Peter Lynch
61Pass
Joel Greenblatt
50No pass
Charlie Munger
54No pass
Terry Smith
55No pass
Questions about Upwork
Is Upwork a good stock to buy?
A solid business, and the price looks low. 3 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Upwork AI analysis
What does Upwork do?
Upwork Inc., together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. It is in Staffing & Employment Services.
Does Upwork pay a dividend?
No. Upwork does not pay a dividend at the moment; in 2025 it returned $136 million to shareholders by buying back its own shares.
Is Upwork stock halal?
Questionable. Upwork sits in a grey zone: short-term investments may earn interest; type not reported. How we check
How has Upwork stock done over the past year?
Down 41.8% over the past twelve months, to $9.93. It traded between $7.84 and $22.11 and is 55.1% below its high.
Who are Upwork's competitors?
The largest listed companies in the same industry are Robert Half International, Korn Ferry, TriNet Group and ManpowerGroup. The peers table on this page compares their profit, growth and price with Upwork's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.