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Upwork stock: key metrics
UPWKUpwork had an operating margin of 16.4% and a return on invested capital (ROIC) of 29.7% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2016 | 61.9% | −8.8% | −9.9% |
| 2017 | 67.7% | −1.5% | −2.0% |
| 2018 | 67.8% | −4.6% | −7.9% |
| 2019 | 70.7% | −6.2% | −5.5% |
| 2020 | 72.1% | −6.0% | −6.1% |
| 2021 | 73.0% | −10.8% | −11.2% |
| 2022 | 74.1% | −15.0% | −14.5% |
| 2023 | 75.3% | −1.6% | 6.8% |
| 2024 | 77.4% | 8.5% | 28.0% |
| 2025 | 77.8% | 16.4% | 14.7% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2016 | 53.9% | −6.8% | −6.5% |
| 2017 | 13.1% | −1.5% | −1.5% |
| 2018 | −8.2% | −15.5% | −5.1% |
| 2019 | −6.4% | −9.6% | −3.7% |
| 2020 | −7.6% | −10.6% | −4.3% |
| 2021 | −21.7% | −26.5% | −5.2% |
| 2022 | −36.1% | −48.2% | −8.3% |
| 2023 | 12.3% | −6.3% | 4.5% |
| 2024 | 37.5% | 25.0% | 17.8% |
| 2025 | 18.3% | 29.7% | 8.9% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong since 7 Nov 2026, previously Neutral
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.