Upwork Inc
Research Upwork Inc (UPWK) on Bullrun: valuation model: 56.8% undervalued, market cap USD 1.09B, P/E 11.4. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerUPWK
- ExchangeNASDAQ
- CountryUnited States
- SectorCommunication Services
- IndustryInternet Content & Information
- CurrencyUSD
- Valuation signal56.8% undervalued
- Market capUSD 1.09B
- P/E11.4
- Financial periodQ1 2026
- RevenueUSD 195.48M
- Net incomeUSD 31.46M
- Free cash flowUSD 12.91M
- Gross margin77.2%
Valuation Snapshot
Bullrun's latest valuation model marks Upwork Inc as 56.8% undervalued; latest market cap is USD 1.09B; P/E is 11.4.
Peer valuation comparison
Latest P/E is 11.43x versus a Communication Services sector median of 16.43x (30.4% below).
Latest P/E is 11.43x versus a United States median of 24.87x (54.0% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 787.78M | USD 115.43M | USD 242.47M | 77.8% | 0.84 | USD 294.36M | USD 359.77M | USD 630.32M |
| FY2024 | USD 769.33M | USD 215.59M | USD 150.04M | 77.4% | 1.52 | USD 305.76M | USD 357.93M | USD 575.38M |
| FY2023 | USD 689.14M | USD 46.89M | USD 52.02M | 75.3% | 0.06 | USD 79.64M | USD 356.09M | USD 381.08M |
| FY2022 | USD 618.32M | -USD 89.89M | USD 10.25M | 74.1% | -0.69 | USD 129.38M | USD 564.26M | USD 248.88M |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 1.09B | 11.4 | n/a | n/a |
| 2025 | 2025-12-31 | USD 2.59B | 23.9 | n/a | n/a |
| 2024 | 2024-12-31 | USD 2.21B | 10.7 | n/a | n/a |
| 2023 | 2023-12-29 | USD 2.02B | n/a | n/a | n/a |
| 2022 | 2022-12-30 | USD 1.37B | n/a | n/a | n/a |
| 2021 | 2021-12-31 | USD 4.41B | n/a | n/a | n/a |
About Upwork Inc
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.
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Frequently asked questions
Is Upwork Inc overvalued or undervalued?
Bullrun's valuation model currently marks Upwork Inc as 56.8% undervalued.
What is Upwork Inc's market cap?
Upwork Inc's market capitalization is USD 1.09B.
What is Upwork Inc's P/E ratio?
Upwork Inc's price-to-earnings (P/E) ratio is 11.4.
What does Upwork Inc do?
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.