Upwork (UPWK) Tax Rate (2020 - 2026)
Upwork (UPWK) recorded Tax Rate of 20.87% in Q2 2026, up 6.00 percentage points from 14.87% a year earlier and up 4.30 percentage points from the prior quarter.
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Analysis
Upwork (UPWK) Tax Rate (2020 - 2026) Analysis & Trends
On a TTM basis, Upwork's Tax Rate came in at 27.02% as of Jun 30, 2026, up 114.74 percentage points year-over-year; for FY2025, it came in at 24.65%, up 163.06 percentage points from FY2024.
- Annual Tax Rate has a five-year change of +25.31 percentage points (FY2020 to FY2025).
- Across earlier years, Tax Rate came in at -138.41% in FY2024 (-142.48 pp), 4.07% in FY2023 (+4.67 pp), -0.60% in FY2022 (-0.38 pp) and -0.22% in FY2021 (+0.44 pp).
- Quarterly Tax Rate has ranged from -701.08% in Q4 2024 to 54.09% in Q4 2025 over the past five years.
- On a year-over-year basis, Tax Rate has increased for six consecutive quarters, with an average year-over-year change of +12.76 percentage points over the last eight quarters.
- Peak year-over-year performance for Tax Rate in the last five years was a gain of 755.17 percentage points in Q4 2025, against a drop of 691.24 percentage points in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 16.57% (Q1 2026), 54.09% (Q4 2025) and 17.77% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,173.87 Bn | 3,931.39 Bn | 73.85 Bn | 19.14% |
| 2 | Meta Platforms | 1,849.67 Bn | 1,552.19 Bn | 49.47 Bn | 15.50% |
| 3 | Netflix | 279.23 Bn | 239.43 Bn | 6.52 Bn | 16.40% |
| 4 | Alibaba Group Holding | 245.86 Bn | 63.73 Bn | 15.11 Bn | - |
| 5 | Shopify | 196.08 Bn | 173.27 Bn | 1.71 Bn | 15.38% |
| 6 | Uber Technologies | 138.90 Bn | 110.88 Bn | 6.38 Bn | 25.63% |
| 7 | Booking Holdings | 119.48 Bn | 52.53 Bn | - | 23.83% |
| 8 | PDD Holdings | 107.30 Bn | -144.64 Bn | 9.45 Bn | - |
| 9 | Spotify Technology | 97.33 Bn | 54.56 Bn | 1.86 Bn | 24.31% |
| 10 | Upwork | 1.00 Bn | -1.51 Bn | 146.37 Mn | 20.87% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 20.87% |
| Mar 31, 2026 | 16.57% |
| Dec 31, 2025 | 54.09% |
| Sep 30, 2025 | 17.77% |
| Jun 30, 2025 | 14.87% |
| Mar 31, 2025 | 16.22% |
| Sep 30, 2024 | 3.90% |
| Jun 30, 2024 | 5.13% |
| Mar 31, 2024 | 6.72% |
| Sep 30, 2023 | 5.19% |
| Mar 31, 2023 | 4.43% |
| Dec 31, 2020 | 9.14% |
API Access
Upwork Tax Rate 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=tax-rate&ticker=UPWK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=UPWK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();