Obermatt

Upwork

NSQ:UPWK · US91688F1049
Professional ServicesMedium

360

84
EV / EBIT95
Price / Owner Earnings58
Owner Earnings Yield90
Dividend Yield1
Price/Sales34
EV / Gross Profit84
Price/Book70
Return on Capital50
Cash Return on Capital88
Return on Equity62
EBIT Margin76
Gross Profitability77
Cash Conversion76
Accruals87
Owner Earnings Margin78
Sales growth20
Profit Growth55
Long-Term EPS Growth24
Owner Earnings Growth20
Reinvestment60
Price momentum8
Debt load55
Refinancing51
Debt Payback100
Liquidity87
Analyst ratings19
Opinion Changes12
Price Target Upside70
Market mood32
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Upwork clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryUSA
IndustryProfessional Services
SizeMedium
TypePublic Company
ExchangeNASDAQGS
Founded2013
Employees161,479
Websiteupwork.com
ISINUS91688F1049
Last UpdateApr 2, 2026
Themes
Virtual WorkforceTeam CollaborationMachine LearningCorporate Wellness ProgramsOnline PaymentsEmployee Assistance Program (EAP)WorkTechFreelanceMarketplacePeer to PeerRecruiting

Description

Upwork Inc., together with its subsidiaries, provides platforms and workforce solutions that connect businesses with freelance, agency, fractional, and payrolled. The company’s portfolio of platforms and other workforce solutions includes the Upwork…

Analysis

Quality compounder

Upwork Inc. earns the quality_compounder label: good underlying economics priced fairly, with no obvious bargain or excess.

On valuation, the picture is attractive. The owner-earnings multiple stands at 8.9×; owner earnings: the cash an owner could take out each year.

Growth is tepid; the safety picture is adequate. The company scores 12/20 on our value-creation score: creating some value.

Flags to be aware of: Some accounting patterns deserve a closer look. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
22
2023202420252026

All-time high

97

Jan 2024

All-time low

22

Jun 2026

Average rank

59

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
34
48
62
47
Price/Earnings
93
74
71
13
Price/Book
70
54
40
24
Dividend Yield
1
1
1
1
Value (overall)
50
55
60
9

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →