Upwork (UPWK) Return on Sales [ROS] (2017 - 2026)
Upwork (UPWK) recorded Return on Sales [ROS] of 18.64% in Q3 2026, up 3.89 percentage points from 14.75% a year earlier and up 3.96 percentage points from the prior quarter.
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Analysis
Upwork (UPWK) Return on Sales [ROS] (2017 - 2026) Analysis & Trends
On a TTM basis, Upwork's Return on Sales [ROS] came in at 16.05% as of Sep 30, 2026, up 1.37 percentage points year-over-year; for FY2025, it came in at 16.41%, up 7.94 percentage points from FY2024.
- Annual Return on Sales [ROS] has increased for three straight years, with a five-year change of +22.41 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Sales [ROS] came in at 8.48% in FY2024 (+10.11 pp), -1.63% in FY2023 (+13.35 pp), -14.98% in FY2022 (-4.20 pp) and -10.78% in FY2021 (-4.79 pp).
- The Q3 2026 figure is the highest quarterly Return on Sales [ROS] since Q1 2025.
- On a year-over-year basis, Return on Sales [ROS] rose in six of the last eight quarters, with an average year-over-year change of +4.12 percentage points.
- Peak year-over-year performance for Return on Sales [ROS] in the last five years was a gain of 22.56 percentage points in Q3 2023, against a drop of 16.55 percentage points in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 14.68% (Q2 2026), 16.74% (Q1 2026) and 14.26% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROS (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,505.75 Bn | 3,240.65 Bn | 76.16 Bn | 31.81% |
| 2 | Meta Platforms | 1,636.37 Bn | 1,300.89 Bn | 51.23 Bn | 20.10% |
| 3 | Netflix | 264.79 Bn | 226.09 Bn | 6.80 Bn | 34.63% |
| 4 | Alibaba Group Holding | 244.49 Bn | 58.13 Bn | 15.16 Bn | 5.64% |
| 5 | Shopify | 196.00 Bn | 174.81 Bn | 1.78 Bn | 15.18% |
| 6 | Uber Technologies | 145.16 Bn | 115.98 Bn | 6.42 Bn | 9.80% |
| 7 | AppLovin | 136.87 Bn | 125.40 Bn | 1.94 Bn | 78.22% |
| 8 | Spotify Technology | 125.04 Bn | 81.96 Bn | 1.89 Bn | 13.52% |
| 9 | Booking Holdings | 122.68 Bn | 56.42 Bn | - | 38.43% |
| 10 | Upwork | 1.22 Bn | -951.96 Mn | 141.30 Mn | 18.64% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 18.64% |
| Jun 30, 2026 | 14.68% |
| Mar 31, 2026 | 16.74% |
| Dec 31, 2025 | 14.26% |
| Sep 30, 2025 | 14.75% |
| Jun 30, 2025 | 16.71% |
| Mar 31, 2025 | 20.08% |
| Dec 31, 2024 | 7.09% |
| Sep 30, 2024 | 10.73% |
| Jun 30, 2024 | 9.21% |
| Mar 31, 2024 | 6.83% |
| Dec 31, 2023 | 4.58% |
| Sep 30, 2023 | 6.52% |
| Jun 30, 2023 | -3.63% |
| Mar 31, 2023 | -15.57% |
| Dec 31, 2022 | -12.69% |
| Sep 30, 2022 | -16.04% |
| Jun 30, 2022 | -14.69% |
| Mar 31, 2022 | -16.73% |
| Dec 31, 2021 | -15.93% |
API Access
Upwork Return on Sales [ROS] 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-sales-%5Bros%5D&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-sales-[ros]", "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-sales-%5Bros%5D&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();