TTM
20.5%
YoY change
+6.35pp
Trough year (2022)
-11.9%
Peak year (2025)
20.7%
Latest annual
20.7%
EBITDA Margin history chart for Upwork (UPWK) from 2016 to 2025
Latest: 20.7%
EBITDA Margin change chart for Upwork (UPWK) from 2016 to 2025
Latest: +6.35pp
EBITDA Margin history table for Upwork (UPWK) from 2016 to 2025
| 2025 | 20.7% | +6.35pp | ||
| 2024 | 14.4% | +5.46pp | ||
| 2023 | 8.9% | +20.86pp | ||
| 2022 | -11.9% | -3.94pp | ||
| 2021 | -8.0% | -5.87pp | ||
| 2020 | -2.1% | -0.16pp | ||
| 2019 | -2.0% | +3.14pp | ||
| 2018 | -5.1% | -5.59pp | ||
| 2017 | 0.5% | +4.70pp | ||
| 2016 | -4.2% | — |
- 202520.7%+6.35pp
- 202414.4%+5.46pp
- 20238.9%+20.86pp
- 2022-11.9%-3.94pp
- 2021-8.0%-5.87pp
- 2020-2.1%-0.16pp
- 2019-2.0%+3.14pp
- 2018-5.1%-5.59pp
- 20170.5%+4.70pp
- 2016-4.2%—
EBITDA Margin values are taken from Upwork's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About EBITDA Margin at Upwork (UPWK)
According to Upwork's latest reported financial statements, the company's latest reported EBITDA margin is 20.5%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual EBITDA margin for Upwork (UPWK) came in at 20.75% – expanded 6.3 percentage points year-over-year.
2025 marks the peak EBITDA margin at 20.75%, with the historical low of -11.92% recorded in 2022.
Upwork EBITDA Margin by Year
Upwork EBITDA Margin 2025: 20.7%
2025's EBITDA margin for Upwork came in at 20.75%, expanded 6.3 percentage points from 2024. This figure represents the highest annual value in the available history.
Upwork EBITDA Margin 2024: 14.4%
Upwork posted EBITDA margin of 14.40% in 2024, expanded 5.5 percentage points from 2023.
Upwork EBITDA Margin 2023: 8.9%
In 2023, Upwork reported EBITDA margin of 8.94%, expanded 20.9 percentage points from 2022.
Upwork EBITDA Margin 2022: -11.9%
Upwork EBITDA margin in 2022 was -11.92%, contracted 3.9 percentage points from 2021. This figure represents the lowest annual value in the available history.
Upwork EBITDA Margin 2021: -8.0%
Upwork EBITDA margin in 2021 was -7.98%.
See more financial history for Upwork (UPWK).
Sector peers by EBITDA Margin
Industrials peers of Upwork (UPWK), ranked by their latest EBITDA margin
| 52.5% | |
| 22.8% | |
| 22.5% | |
| 21.6% | |
| 20.7% | |
| 17.1% | |
| 7.9% |
- 52.5%
- 22.8%
- 22.5%
- 21.6%
- 17.1%
- 7.9%
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