Upwork (UPWK) FCF Margin (2017 - 2026)
Upwork (UPWK) posted quarterly FCF Margin of 10.89% for Q1 2026, down 637.0% year-over-year from 2.03% in Q1 2025, and down 66.1% quarter-over-quarter from 32.13% in Q4 2025.
Upwork (UPWK) FCF Margin (2017 - 2026) Analysis & Trends
Upwork's FCF Margin history runs 10 years deep, the most recent figure standing at 10.89% for Q1 2026.
- In Q1 2026, FCF Margin fell 637.0% year-over-year to 10.89%; the TTM figure through Mar 2026 stood at 29.89% (up 802.0% YoY), while the FY2025 annual figure was 31.51%, up 1201.0% from the prior year.
- FCF Margin for Q1 2026 stood at 10.89%, down from 32.13% in the prior quarter.
- The five-year high for FCF Margin was 39.6% in Q3 2025, with the low at 8.33% in Q1 2022.
- The 5-year median for FCF Margin is 11.49% (2022), against an average of 14.65%.
- The sharpest annual moves came in 2022 and 2024: FCF Margin sank 1519 bps in 2022, then jumped 2128 bps in 2024.
- Upwork's FCF Margin stood at 11.49% in 2022, then slipped by 5 bps to 10.88% in 2023, then soared by 110 bps to 22.8% in 2024, then jumped by 41 bps to 32.13% in 2025, then sank by 66 bps to 10.89% in 2026.
- Business Quant data shows UPWK's FCF Margin at 10.89% in Q1 2026, 32.13% in Q4 2025, and 39.6% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,170.83 Bn | 3,741.79 Bn | 73.85 Bn | -4.89% |
| 2 | Meta Platforms | 1,525.91 Bn | 1,435.65 Bn | 49.47 Bn | 2.87% |
| 3 | Taboola.com | 1,144.63 Bn | 1,144.50 Bn | 139.48 Mn | - |
| 4 | Baidu | 288.34 Bn | 283.85 Bn | 1.88 Mn | 26.66% |
| 5 | Spotify Technology | 102.92 Bn | 92.68 Bn | 1.75 Bn | 18.55% |
| 6 | Joyy | 77.39 Bn | 76.50 Bn | 205.64 Mn | - |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 54.09% |
| 8 | Nebius | 49.34 Bn | 39.71 Bn | 295.20 Mn | 1,185.69% |
| 9 | 30.23 Bn | 27.44 Bn | 734.60 Mn | 32.39% | |
| 10 | Upwork | 1.07 Bn | 486.83 Mn | 150.84 Mn | 10.89% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 10.89% |
| Dec 31, 2025 | 32.13% |
| Sep 30, 2025 | 39.60% |
| Jun 30, 2025 | 36.61% |
| Mar 31, 2025 | 17.26% |
| Dec 31, 2024 | 22.80% |
| Sep 30, 2024 | 27.08% |
| Jun 30, 2024 | 20.33% |
| Mar 31, 2024 | 7.67% |
| Dec 31, 2023 | 10.88% |
| Sep 30, 2023 | 24.17% |
| Jun 30, 2023 | -0.95% |
| Mar 31, 2023 | -5.51% |
| Dec 31, 2022 | 11.49% |
| Sep 30, 2022 | 3.45% |
| Jun 30, 2022 | -0.48% |
| Mar 31, 2022 | -8.33% |
| Dec 31, 2021 | -8.70% |
| Sep 30, 2021 | 18.64% |
| Jun 30, 2021 | -0.60% |