Upwork (UPWK) Return on Equity [ROE] (2018 - 2026)
Upwork (UPWK) recorded Return on Equity [ROE] of 16.49% in Q3 2026, down 23.44 percentage points from 39.93% a year earlier and down 0.76 percentage points from the prior quarter.
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Analysis
Upwork (UPWK) Return on Equity [ROE] (2018 - 2026) Analysis & Trends
For FY2025, Upwork reported Return on Equity [ROE] of 19.15%, down 25.93 percentage points from FY2024.
- Annual Return on Equity [ROE] has a five-year change of +27.33 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Equity [ROE] came in at 45.08% in FY2024 (+30.19 pp), 14.89% in FY2023 (+50.25 pp), -35.36% in FY2022 (-15.23 pp) and -20.13% in FY2021 (-11.94 pp).
- The Q3 2026 figure is the lowest quarterly Return on Equity [ROE] since Q1 2024.
- On a year-over-year basis, Return on Equity [ROE] has declined for four consecutive quarters, with an average year-over-year change of +0.12 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Equity [ROE] in the last five years was a gain of 49.53 percentage points in Q4 2023, against a drop of 27.82 percentage points in Q3 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 17.25% (Q2 2026), 18.19% (Q1 2026) and 18.34% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,505.75 Bn | 3,240.65 Bn | 76.16 Bn | 35.76% |
| 2 | Meta Platforms | 1,636.37 Bn | 1,300.89 Bn | 51.23 Bn | 28.20% |
| 3 | Netflix | 264.79 Bn | 226.09 Bn | 6.80 Bn | 49.69% |
| 4 | Alibaba Group Holding | 244.49 Bn | 58.13 Bn | 15.16 Bn | 6.20% |
| 5 | Shopify | 196.00 Bn | 174.81 Bn | 1.78 Bn | 16.72% |
| 6 | Uber Technologies | 145.16 Bn | 115.98 Bn | 6.42 Bn | 12.62% |
| 7 | AppLovin | 136.87 Bn | 125.40 Bn | 1.94 Bn | 155.17% |
| 8 | Spotify Technology | 125.04 Bn | 81.96 Bn | 1.89 Bn | 35.30% |
| 9 | Booking Holdings | 122.68 Bn | 56.42 Bn | - | - |
| 10 | Upwork | 1.22 Bn | -951.96 Mn | 141.30 Mn | 16.49% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 16.49% |
| Jun 30, 2026 | 17.25% |
| Mar 31, 2026 | 18.19% |
| Dec 31, 2025 | 18.34% |
| Sep 30, 2025 | 39.93% |
| Jun 30, 2025 | 40.79% |
| Mar 31, 2025 | 40.15% |
| Dec 31, 2024 | 43.70% |
| Sep 30, 2024 | 22.21% |
| Jun 30, 2024 | 20.95% |
| Mar 31, 2024 | 13.20% |
| Dec 31, 2023 | 12.95% |
| Sep 30, 2023 | 4.00% |
| Jun 30, 2023 | -9.45% |
| Mar 31, 2023 | -17.84% |
| Dec 31, 2022 | -36.58% |
| Sep 30, 2022 | -39.25% |
| Jun 30, 2022 | -32.45% |
| Mar 31, 2022 | -28.75% |
| Dec 31, 2021 | -21.45% |
API Access
Upwork Return on Equity [ROE] 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=return-on-equity-%5Broe%5D&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-equity-[roe]", "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=return-on-equity-%5Broe%5D&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();