Is Upwork (UPWK) overvalued or fairly valued?

MarketChacha shows Upwork's valuation in context — a trailing P/E of about 9.3, a forward P/E of about 5.1, a price-to-book of about 1.9 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Upwork's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.20×) from reported figures — education, not a rating.

What is Upwork's revenue?

Upwork reported revenue of $787.8M for FY2025, with net profit of $115.4M, per official filings.

What is the share price of Upwork (UPWK)?

Upwork last traded at $8.93 (-2.9% on the day), as of 7/22/2026 — a delayed quote shown for education, not investment advice.

Upwork

UPWK · NYSE · Industrials · United States

$8.93-2.9%

Delayed · as reported by Yahoo Finance · as of Jul 22, 2026, 7:33 PM

Snapshot

TickerUPWK

ExchangeNYSE

SectorIndustrials

IndustryInternet Content & Information

CountryUnited States

Employees630

HeadquartersPalo Alto, United States

Market cap$1.1B

P/E (TTM)9.3

P/B1.9

Volume2.29M

Websitewww.upwork.com

Filings tracked5

About Upwork

Upwork Inc., together with its subsidiaries, provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled talent in the United States, the Philippines, India, Pakistan, and internationally. The company offers Upwork Marketplace, a human and AI-powered work marketplace that connects businesses with on-demand access to independent talent across a range of categories, including AI-related projects, administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development. Its marketplace also streamlines workflows, such as talent sourcing, outreach, contracting, and engagement management, as well as provides infrastructure for remote collaboration, including communication and collaboration tools, consolidated invoicing, and payment protection; and Upwork Payroll services. It also offers enterprise solutions that provide access to platform capabilities that support contingent workforce solutions, including sourcing, onboarding, classification, compliance and contract management, payments, and reporting. In addition, the company offers managed services that provide a service-led program management and end-to-end project delivery solution that enables enterprise clients to outsource defined functions or projects; Uma, an AI assistant; and escrow services. The company was formerly known as Elance-oDesk, Inc. and changed its name to Upwork Inc. in May 2015. Upwork Inc. was founded in 1998 and is headquartered in Palo Alto, California.

Profile as reported by Yahoo Finance.

Who owns it

Insiders5.2%
Institutions94.8%
Public & other0.0%

421 institutional holders

As reported by Yahoo Finance.

Top holders

Blackrock Inc.15.27%
Price (T.Rowe) Associates Inc14.12%
Vanguard Portfolio Management LLC6.29%
LSV Asset Management5.50%
Ancient Art, L.P.4.83%
Vanguard Capital Management LLC4.54%
State Street Corporation4.15%
Capital International Investors3.82%

Largest institutional holders, as reported by Yahoo Finance (as of 3/31/2026).

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.20×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend6.8% → 14.7%

Margin has expanded by about 7.8 points — the business is getting more profitable.

Return on equity18.3%

Latest ROE of 18.3% — capital is generating a healthy return.

Growth qualityrev 7% · PAT 57%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $193.8M · EPS 0.41

Est. earnings growth +13.7%

Next fiscal year

Rev $822.9M · EPS 1.74

Est. earnings growth +13.0%

Analyst consensus estimates — not the company's own guidance. As reported by Yahoo Finance.

$7.4452-wk range$22.84

Delayed · as reported by Yahoo Finance

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Market cap

$1.1B

Day change

-2.9%

P/E (TTM)

9.3

Fwd P/E

5.1

P/B

1.9

Beta

0.99

Revenue (FY2025)

$787.8M

Net margin

14.7%

ROE

18.3%

Revenue CAGR (2y)

+6.9%

Profit CAGR (2y)

+56.9%

EPS (FY2025)

0.84

Net profit (FY2025)

$115.4M

Market figures: Delayed · as reported by Yahoo Finance. Financials as reported in company filings.

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$787.8M	$115.4M	0.84	14.7%	18.3%
FY2024	$769.3M	$215.6M	1.52	28.0%	37.5%
FY2023	$689.1M	$46.9M	0.06	6.8%	12.3%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q1	$195.5M	$31.5M	0.24	16.1%
2025Q3	$201.7M	$29.3M	0.21	14.5%
2025Q2	$194.9M	$32.7M	0.24	16.8%
2025Q1	$192.7M	$37.7M	0.27	19.6%
2024Q3	$193.8M	$27.8M	0.20	14.3%
2024Q2	$193.1M	$22.2M	0.17	11.5%
2024Q1	$190.9M	$18.4M	0.13	9.7%
2023Q3	$175.7M	$16.3M	0.12	9.3%
2023Q2	$168.6M	$-4.0M	-0.03	-2.4%
2023Q1	$160.9M	$17.2M	-0.15	10.7%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Executive/director change
SEC7/16/2026material
8-K — Material agreement, Material financial obligation, Exhibits
SEC6/23/2026material
8-K — Executive/director change, Shareholder vote results
SEC6/5/2026material
8-K — Results of operations, Costs from exit/disposal, Reg FD disclosure, Exhibits
SEC5/7/2026material
10-Q filing
SEC5/7/2026

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed · as reported by yahoo finance) are delayed and shown for reference only. Verify with the linked sources before acting.