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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on Sales

Upwork (UPWK) Debt to Equity (2017 - 2026)

Upwork has reported Debt to Equity over the past 9 years, most recently at $0.57 for Q4 2025.

  • For Q4 2025, Debt to Equity fell 8.25% year-over-year to $0.57; the TTM value through Dec 2025 reached $0.57, down 8.25%, while the annual FY2025 figure was $0.57, 8.25% down from the prior year.
  • Debt to Equity for Q4 2025 was $0.57 at Upwork, roughly flat from $0.57 in the prior quarter.
  • Over five years, Debt to Equity peaked at $2.32 in Q3 2022 and troughed at $0.02 in Q2 2021.
  • A 5-year average of $1.18 and a median of $1.01 in 2024 define the central range for Debt to Equity.
  • Biggest five-year swings in Debt to Equity: plummeted 76.13% in 2021 and later surged 10003.38% in 2022.
  • Year by year, Debt to Equity stood at $2.16 in 2021, then increased by 4.82% to $2.27 in 2022, then tumbled by 58.79% to $0.93 in 2023, then plummeted by 33.43% to $0.62 in 2024, then dropped by 8.25% to $0.57 in 2025.
  • Business Quant data shows Debt to Equity for UPWK at $0.57 in Q4 2025, $0.57 in Q3 2025, and $0.59 in Q2 2025.