Upwork (UPWK) EV to EBITDA (2023 - 2026)
Upwork's (UPWK) EV to EBITDA came in at 2.83 for Q2 2026, down 62.2% from 7.48 a year earlier and down 44.1% from the prior quarter.
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Analysis
Upwork (UPWK) EV to EBITDA (2023 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, EV to EBITDA at Upwork was -9.66; for FY2025, it came in at 12.35, down 28.9% from FY2024.
- In prior years, Upwork's EV to EBITDA was 17.38 in FY2024.
- The Q2 2026 figure stands as the lowest quarterly EV to EBITDA in data going back to Q1 2024.
- On a year-over-year basis, EV to EBITDA has declined in each of the last three quarters, with an average decline of 26.8% over the last six quarters.
- According to Business Quant data, EV to EBITDA for the three prior quarters was 5.05 (Q1 2026), 12.35 (Q4 2025) and 13.05 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,126.42 Bn | 3,883.94 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,763.57 Bn | 1,466.09 Bn | 49.47 Bn |
| 3 | Netflix | 287.17 Bn | 247.37 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 252.08 Bn | 65.86 Bn | 15.11 Bn |
| 5 | Shopify | 224.54 Bn | 201.72 Bn | 1.71 Bn |
| 6 | Uber Technologies | 140.28 Bn | 112.08 Bn | 6.38 Bn |
| 7 | Booking Holdings | 125.81 Bn | 58.86 Bn | - |
| 8 | PDD Holdings | 114.10 Bn | -129.68 Bn | 9.45 Bn |
| 9 | Spotify Technology | 108.24 Bn | 65.74 Bn | 1.86 Bn |
| 10 | Upwork | 1.08 Bn | -1.43 Bn | 146.37 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.79 |
| Mar 31, 2026 | 4.99 |
| Dec 31, 2025 | 12.21 |
| Sep 30, 2025 | 12.88 |
| Jun 30, 2025 | 7.37 |
| Mar 31, 2025 | 8.31 |
| Dec 31, 2024 | 16.99 |
| Sep 30, 2024 | 7.56 |
| Jun 30, 2024 | 10.76 |
| Mar 31, 2024 | 23.30 |
| Dec 31, 2023 | 5,195.64 |
API Access
Upwork EV to EBITDA 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=ev-to-ebitda&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "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=ev-to-ebitda&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();