Upwork (UPWK) Return on Capital Employed (2018 - 2026)
Upwork (UPWK) posted quarterly Return on Capital Employed of 19.78% for Q1 2026, up 1023.0% year-over-year from 1.76% in Q1 2025, and little changed quarter-over-quarter from 19.73% in Q4 2025.
Upwork (UPWK) Return on Capital Employed (2018 - 2026) Analysis & Trends
Upwork's Return on Capital Employed history runs 9 years deep, the most recent figure standing at 19.78% for Q1 2026.
- In Q1 2026, Return on Capital Employed rose 1023.0% year-over-year to 19.78%; the TTM figure through Mar 2026 stood at 19.78% (up 1023.0% YoY), while the FY2025 annual figure was 21.36%, up 1374.0% from the prior year.
- Return on Capital Employed for Q1 2026 stood at 19.78%, roughly flat from 19.73% in the prior quarter.
- The five-year high for Return on Capital Employed was 19.78% in Q1 2026, with the low at 12.66% in Q1 2023.
- The 5-year median for Return on Capital Employed is 3.68% (2024), against an average of 1.93%.
- The sharpest annual moves came in 2022 and 2024: Return on Capital Employed sank 588 bps in 2022, then surged 1856 bps in 2024.
- Upwork's Return on Capital Employed stood at 11.13% in 2022, then soared by 86 bps to 1.59% in 2023, then jumped by 571 bps to 7.51% in 2024, then jumped by 163 bps to 19.73% in 2025, then rose by 0 bps to 19.78% in 2026.
- Business Quant data shows UPWK's Return on Capital Employed at 19.78% in Q1 2026, 19.73% in Q4 2025, and 18.31% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,169.37 Bn | 3,740.34 Bn | 73.85 Bn | 21.49% |
| 2 | Meta Platforms | 1,523.99 Bn | 1,433.73 Bn | 49.47 Bn | 23.74% |
| 3 | Taboola.com | 1,150.19 Bn | 1,150.06 Bn | 139.48 Mn | 5.19% |
| 4 | Baidu | 289.04 Bn | 284.55 Bn | 1.88 Mn | -1.83% |
| 5 | Spotify Technology | 102.97 Bn | 92.73 Bn | 1.75 Bn | - |
| 6 | Joyy | 77.43 Bn | 76.54 Bn | 205.64 Mn | 1.52% |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | - |
| 8 | Nebius | 49.26 Bn | 39.63 Bn | 295.20 Mn | -3.77% |
| 9 | 30.10 Bn | 27.31 Bn | 734.60 Mn | 24.36% | |
| 10 | Upwork | 1.06 Bn | 478.52 Mn | 150.84 Mn | 19.78% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 19.78% |
| Dec 31, 2025 | 19.73% |
| Sep 30, 2025 | 18.31% |
| Jun 30, 2025 | 10.88% |
| Mar 31, 2025 | 9.55% |
| Dec 31, 2024 | 7.51% |
| Sep 30, 2024 | 7.99% |
| Jun 30, 2024 | 7.05% |
| Mar 31, 2024 | 3.68% |
| Dec 31, 2023 | -1.59% |
| Sep 30, 2023 | -5.80% |
| Jun 30, 2023 | -11.51% |
| Mar 31, 2023 | -12.66% |
| Dec 31, 2022 | -11.13% |
| Sep 30, 2022 | -11.26% |
| Jun 30, 2022 | -9.21% |
| Mar 31, 2022 | -8.48% |
| Dec 31, 2021 | -6.35% |
| Sep 30, 2021 | -5.38% |
| Jun 30, 2021 | -7.96% |