Stock AnalizUpwork, Inc. UPWK
EDP Services · IPO 2018 · data as of November 13, 2026
Upwork, Inc. (UPWK) is a technology company listed in the US with a market value of about $1.2B. In the twelve months to September 30, 2026 it had revenue of $771M and net income of $104M, a net margin of 13.5%.
Its overall Stock Analiz score is 2.6 out of 5 (average). The strongest part is financial health (5/5); the weakest is shareholder returns (1/5).
Key numbers: a P/E of 12.3, a price to free cash flow of 6.5, 5-year revenue growth of 16% a year, a 5-year average ROIC of -0%. A discounted cash flow model with moderate assumptions puts its intrinsic value about 56% below the current price.
Score: 2.6 / 5
Checks passed
- P/E below 25
- P/E below the industry median
- P/FCF below 20
- 3-year free cash flow growth above 10% a year
- Strong R&D investment or growth above 20%
- 5-year revenue growth above 8% a year
- ROE above 15%
- More cash than debt, or low debt to equity
Checks not passed
- Price below intrinsic value (DCF, moderate assumptions)
- PEG below 1.5
- Revenue growth above 10% last year
- 3-year revenue growth above 10% a year
- Profit margin improving
- 5-year EPS growth above 10% a year
- 5-year average ROIC above 12%
- Profitable 5 years in a row
Valuation
Growth and quality
Financials, last 10 years
| Fiscal year | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $771M | $788M | $769M | $689M | $618M | $503M | $374M | $301M | $253M | $203M | $164M |
| Net income | $104M | $115M | $216M | $47M | -$90M | -$56M | -$23M | -$17M | -$20M | -$4M | -$16M |
| Free cash flow | $192M | $242M | $150M | $52M | $10M | $10M | $16M | -$10M | $11M | -$6M | $2M |
| EPS (diluted) | $0.81 | $0.84 | $1.52 | $0.06 | $-0.69 | $-0.44 | $-0.19 | $-0.15 | $-0.38 | $-0.32 | $-0.51 |
| Net margin | 13.5% | 14.6% | 28.0% | 6.8% | -14.5% | -11.2% | -6.1% | -5.5% | -7.9% | -2.0% | -9.9% |
| ROIC | — | 9.7% | 5.5% | -1.4% | -8.7% | -5.1% | -5.3% | -4.9% | -3.2% | -126.0% | — |
From the company’s 10-K and 10-Q filings with the SEC. TTM = trailing twelve months.
What analysts expect
The average 12-month price target from 7 analysts is $11.21, 13% above the current price; targets range from $8.00 to $14.00; the consensus rating is “Buy”; expected EPS is $1.46 for the fiscal year ending December 31, 2026.
Frequently asked questions
What is Upwork’s P/E ratio?
About 12.3, based on the last twelve months of diluted earnings per share (forward P/E about 8.8).
Is Upwork stock undervalued?
Our DCF model with moderate assumptions puts its intrinsic value about 56% below the current market value. A model is a range, not a promise; try your own assumptions in the DCF calculator.
Does Upwork pay a dividend?
Not currently.
Is Upwork a good stock to buy?
We do not give buy or sell advice. Upwork scores 2.6 out of 5 on our five checks (value, growth, track record, financial health and shareholder returns); the checks above show why.
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Generated from SEC filings, analyst consensus estimates and market prices, rebuilt every day. Educational information, not investment advice.