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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on Sales

Upwork (UPWK) Operating Margin (2017 - 2025)

Upwork (UPWK) has 9 years of Operating Margin data on record, last reported at 14.26% in Q4 2025.

  • For Q4 2025, Operating Margin rose 717.0% year-over-year to 14.26%; the TTM value through Dec 2025 reached 16.41%, up 794.0%, while the annual FY2025 figure was 16.41%, 794.0% up from the prior year.
  • Operating Margin reached 14.26% in Q4 2025 per UPWK's latest filing, down from 14.75% in the prior quarter.
  • Across five years, Operating Margin topped out at 20.08% in Q1 2025 and bottomed at 16.73% in Q1 2022.
  • Average Operating Margin over 5 years is 0.55%, with a median of 0.48% recorded in 2023.
  • Peak YoY movement for Operating Margin: crashed -1655bps in 2021, then soared 2256bps in 2023.
  • A 5-year view of Operating Margin shows it stood at 15.93% in 2021, then increased by 20bps to 12.69% in 2022, then surged by 136bps to 4.58% in 2023, then surged by 55bps to 7.09% in 2024, then soared by 101bps to 14.26% in 2025.
  • Per Business Quant database, its latest 3 readings for Operating Margin were 14.26% in Q4 2025, 14.75% in Q3 2025, and 16.71% in Q2 2025.