Growth Metrics

Upwork (UPWK) Equity Ratio (2017 - 2025)

Upwork has reported Equity Ratio over the past 9 years, most recently at 0.49 for Q4 2025.

  • Quarterly results put Equity Ratio at 0.49 for Q4 2025, up 2.13% from a year ago — trailing twelve months through Dec 2025 was 0.49 (up 2.13% YoY), and the annual figure for FY2025 was 0.49, up 2.13%.
  • Equity Ratio for Q4 2025 was 0.49 at Upwork, up from 0.48 in the prior quarter.
  • Over the last five years, Equity Ratio for UPWK hit a ceiling of 0.55 in Q1 2021 and a floor of 0.22 in Q3 2022.
  • Median Equity Ratio over the past 5 years was 0.36 (2023), compared with a mean of 0.37.
  • Biggest five-year swings in Equity Ratio: plummeted 58.46% in 2022 and later surged 59.42% in 2023.
  • Upwork's Equity Ratio stood at 0.24 in 2021, then dropped by 4.03% to 0.23 in 2022, then skyrocketed by 59.42% to 0.37 in 2023, then rose by 29.3% to 0.47 in 2024, then increased by 2.13% to 0.49 in 2025.
  • The last three reported values for Equity Ratio were 0.49 (Q4 2025), 0.48 (Q3 2025), and 0.48 (Q2 2025) per Business Quant data.