Upwork (UPWK) Price to Book (2018 - 2026)
Upwork's (UPWK) Price to Book was 1.71 for Q2 2026, down 41.7% from 2.93 a year earlier and down 28.2% from the prior quarter.
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Analysis
Upwork (UPWK) Price to Book (2018 - 2026) Analysis & Trends
For FY2025, Price to Book at Upwork was 4.10, up 6.7% from FY2024.
- By year, Price to Book came in at 3.85 in FY2024 (-28.2%), 5.36 in FY2023 (-3.5%), 5.55 in FY2022 (-67.3%) and 17.00 in FY2021 (+18.1%).
- The Q2 2026 figure ranks as the lowest quarterly Price to Book in data going back to Q4 2018.
- Year over year, Price to Book gained in two of the last eight quarters, with an average decline of 19.4%.
- The high point for year-over-year Price to Book in five years was Q3 2021 (growth of 188.4%); the low point was Q4 2022 (a decline of 67.3%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 2.38 (Q1 2026), 4.10 (Q4 2025) and 3.88 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,109.95 Bn | 3,867.48 Bn | 73.85 Bn |
| 2 | Netflix | 282.52 Bn | 242.72 Bn | 6.52 Bn |
| 3 | Alibaba Group Holding | 249.53 Bn | 67.40 Bn | 15.11 Bn |
| 4 | Shopify | 193.10 Bn | 170.29 Bn | 1.71 Bn |
| 5 | Uber Technologies | 138.52 Bn | 110.49 Bn | 6.38 Bn |
| 6 | Booking Holdings | 120.43 Bn | 53.48 Bn | - |
| 7 | PDD Holdings | 108.89 Bn | -143.04 Bn | 9.45 Bn |
| 8 | Spotify Technology | 101.14 Bn | 58.37 Bn | 1.86 Bn |
| 9 | Airbnb | 94.68 Bn | 47.91 Bn | 2.98 Bn |
| 10 | Upwork | 1.04 Bn | -1.47 Bn | 146.37 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.71 |
| Mar 31, 2026 | 2.38 |
| Dec 31, 2025 | 4.10 |
| Sep 30, 2025 | 3.88 |
| Jun 30, 2025 | 2.93 |
| Mar 31, 2025 | 2.94 |
| Dec 31, 2024 | 3.85 |
| Sep 30, 2024 | 3.39 |
| Jun 30, 2024 | 3.93 |
| Mar 31, 2024 | 4.68 |
| Dec 31, 2023 | 5.36 |
| Sep 30, 2023 | 4.51 |
| Jun 30, 2023 | 4.10 |
| Mar 31, 2023 | 5.23 |
| Dec 31, 2022 | 5.55 |
| Sep 30, 2022 | 7.37 |
| Jun 30, 2022 | 10.96 |
| Mar 31, 2022 | 12.08 |
| Dec 31, 2021 | 17.00 |
| Sep 30, 2021 | 21.80 |
API Access
Upwork Price to Book 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=price-to-book&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();