Upwork (UPWK) EBT Margin (2017 - 2026)
Upwork (UPWK) posted EBT Margin of 20.77% for Q3 2026, up 3.08 percentage points from 17.68% a year earlier and up 4.02 percentage points from the prior quarter.
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Analysis
Upwork (UPWK) EBT Margin (2017 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, EBT Margin at Upwork was 18.47%, up 0.86 percentage points year-over-year; for FY2025, it came in at 19.44%, up 7.69 percentage points from FY2024.
- Annual EBT Margin has increased for three consecutive years, with a five-year change of +25.52 percentage points (FY2020 to FY2025).
- In prior years, Upwork's EBT Margin was 11.75% in FY2024 (+4.66 pp), 7.09% in FY2023 (+21.54 pp), -14.45% in FY2022 (-3.29 pp) and -11.16% in FY2021 (-5.08 pp).
- The Q3 2026 figure stands as the highest quarterly EBT Margin since Q1 2025.
- On a year-over-year basis, EBT Margin increased in six of the last eight quarters, with an average year-over-year change of +3.50 percentage points.
- The strongest year-over-year quarter for EBT Margin in the past five years was Q1 2023, with a gain of 28.65 percentage points; the weakest was Q4 2021, with a drop of 17.39 percentage points.
- According to Business Quant data, EBT Margin for the three prior quarters was 16.75% (Q2 2026), 19.29% (Q1 2026) and 17.16% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,505.75 Bn | 3,240.65 Bn | 76.16 Bn | 25.36% |
| 2 | Meta Platforms | 1,636.37 Bn | 1,300.89 Bn | 51.23 Bn | 20.13% |
| 3 | Netflix | 264.79 Bn | 226.09 Bn | 6.80 Bn | 33.53% |
| 4 | Alibaba Group Holding | 244.49 Bn | 58.13 Bn | 15.16 Bn | 8.29% |
| 5 | Shopify | 196.00 Bn | 174.81 Bn | 1.78 Bn | 13.34% |
| 6 | Uber Technologies | 145.16 Bn | 115.98 Bn | 6.42 Bn | 5.79% |
| 7 | AppLovin | 136.87 Bn | 125.40 Bn | 1.94 Bn | 79.82% |
| 8 | Spotify Technology | 125.04 Bn | 81.96 Bn | 1.89 Bn | 14.19% |
| 9 | Booking Holdings | 122.68 Bn | 56.42 Bn | - | 38.49% |
| 10 | Upwork | 1.22 Bn | -951.96 Mn | 141.30 Mn | 20.77% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 20.77% |
| Jun 30, 2026 | 16.75% |
| Mar 31, 2026 | 19.29% |
| Dec 31, 2025 | 17.16% |
| Sep 30, 2025 | 17.68% |
| Jun 30, 2025 | 19.72% |
| Mar 31, 2025 | 23.36% |
| Dec 31, 2024 | 9.59% |
| Sep 30, 2024 | 14.91% |
| Jun 30, 2024 | 12.12% |
| Mar 31, 2024 | 10.35% |
| Dec 31, 2023 | 8.60% |
| Sep 30, 2023 | 9.81% |
| Jun 30, 2023 | -1.27% |
| Mar 31, 2023 | 11.17% |
| Dec 31, 2022 | -9.95% |
| Sep 30, 2022 | -15.62% |
| Jun 30, 2022 | -15.16% |
| Mar 31, 2022 | -17.48% |
| Dec 31, 2021 | -16.44% |
API Access
Upwork EBT Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebt-margin&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt-margin", "ticker": "UPWK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebt-margin&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();