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

Upwork's Debt to Equity history runs 10 years deep, the most recent figure standing at $0.63 for Q1 2026.

• In Q1 2026, Debt to Equity rose 4.88% year-over-year to $0.63; the TTM figure through Mar 2026 stood at $0.63 (up 4.88% YoY), while the FY2025 annual figure was $0.57, down 8.25% from the prior year.
• Debt to Equity was $0.63 for Q1 2026 at Upwork, up from $0.57 in the prior quarter.
• In the past five years, Debt to Equity ranged from a high of $2.32 in Q3 2022 to a low of $0.57 in Q4 2025.
• Historically, Debt to Equity has averaged $1.17 across 5 years, with a median of $0.99 in 2024.
• The sharpest annual moves came in 2022 and 2023: Debt to Equity surged 10003.38% in 2022, then slumped 58.79% in 2023.
• A 5-year view of Debt to Equity shows it stood at $2.27 in 2022, then plunged by 58.79% to $0.93 in 2023, then tumbled by 33.43% to $0.62 in 2024, then decreased by 8.25% to $0.57 in 2025, then grew by 10.8% to $0.63 in 2026.
• The last three Debt to Equity figures came in at $0.63 (Q1 2026), $0.57 (Q4 2025), and $0.57 (Q3 2025), per Business Quant data.