Upwork (UPWK) Debt Ratio (2017 - 2026)

Upwork (UPWK) posted quarterly Debt Ratio of 0.58 for Q1 2026, up 100.72% year-over-year from 0.29 in Q1 2025, and up 4.77% quarter-over-quarter from 0.55 in Q4 2025.

Upwork (UPWK) Debt Ratio (2017 - 2026) Analysis & Trends

Upwork's Debt Ratio history runs 10 years deep, the most recent figure standing at 0.58 for Q1 2026.

  • In Q1 2026, Debt Ratio rose 100.72% year-over-year to 0.58; the TTM figure through Mar 2026 stood at 0.58 (up 100.72% YoY), while the FY2025 annual figure was 0.55, up 87.42% from the prior year.
  • Debt Ratio for Q1 2026 stood at 0.58, up from 0.55 in the prior quarter.
  • The five-year high for Debt Ratio was 0.58 in Q1 2026, with the low at 0.28 in Q2 2025.
  • The 5-year median for Debt Ratio is 0.38 (2023), against an average of 0.42.
  • The sharpest annual moves came in 2022 and 2023: Debt Ratio soared 2098.31% in 2022, then slumped 34.3% in 2023.
  • Upwork's Debt Ratio stood at 0.52 in 2022, then sank by 34.3% to 0.34 in 2023, then decreased by 13.92% to 0.3 in 2024, then jumped by 87.42% to 0.55 in 2025, then gained by 4.77% to 0.58 in 2026.
  • Business Quant data shows UPWK's Debt Ratio at 0.58 in Q1 2026, 0.55 in Q4 2025, and 0.55 in Q3 2025.
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Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Debt Ratio (Qtr)
1 Alphabet 4,169.37 Bn 3,740.34 Bn 73.85 Bn 0.11
2 Meta Platforms 1,523.99 Bn 1,433.73 Bn 49.47 Bn 0.19
3 Taboola.com 1,150.19 Bn 1,150.06 Bn 139.48 Mn 0.05
4 Baidu 289.04 Bn 284.55 Bn 1.88 Mn 0.14
5 Spotify Technology 102.97 Bn 92.73 Bn 1.75 Bn -0.10
6 Joyy 77.43 Bn 76.54 Bn 205.64 Mn 0.00
7 BILI Social International 60.58 Bn 60.58 Bn 405,933.00 -
8 Nebius 49.26 Bn 39.63 Bn 295.20 Mn 0.38
9 Reddit 30.10 Bn 27.31 Bn 734.60 Mn -
10 Upwork 1.06 Bn 478.52 Mn 150.84 Mn 0.58

Historic Data

Download Data
DateValue
Mar 31, 2026 0.58
Dec 31, 2025 0.55
Sep 30, 2025 0.55
Jun 30, 2025 0.28
Mar 31, 2025 0.29
Dec 31, 2024 0.30
Sep 30, 2024 0.34
Jun 30, 2024 0.35
Mar 31, 2024 0.36
Dec 31, 2023 0.34
Sep 30, 2023 0.37
Jun 30, 2023 0.38
Mar 31, 2023 0.39
Dec 31, 2022 0.52
Sep 30, 2022 0.52
Jun 30, 2022 0.51
Mar 31, 2022 0.51
Dec 31, 2021 0.52
Sep 30, 2021 0.51
Jun 30, 2021 0.02