Question 1

What is Upwork's P/E ratio?

Accepted Answer

Upwork (UPWK) P/E ratio is 10.6× as of June 12, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Upwork?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Upwork specifically, the relevant sector benchmark is the current sector median of 27.8×.

Question 5

Is Upwork's P/E ratio high or low?

Accepted Answer

Upwork's P/E ratio of 10.6× is below its own 5-year average of 27.4× and below the sector median of 27.8×. That places the current reading at the 30th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Upwork's historical P/E ratio range?

Accepted Answer

In the available daily series, Upwork (UPWK) P/E ratio has ranged from a low of 6.8× in 2025 to a high of 165.2× in 2024. The 5-year average is 27.4× and the 5-year median is 16.2×.

Question 7

What was Upwork's P/E ratio in 2025?

Accepted Answer

Upwork (UPWK) P/E ratio at the end of 2025 was 22.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Upwork's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$2.59B	$115.42M	22.4×	+12.2×	Dec 31, 2025
2024	$2.20B	$215.59M	10.2×	-33.1×	Dec 31, 2024
2023	$2.03B	$46.89M	43.3×	—	Dec 31, 2023
2022	$1.38B	−$89.89M	—	—	Dec 31, 2022
2021	$4.36B	−$56.24M	—	—	Dec 31, 2021
2020	$4.26B	−$22.87M	—	—	Dec 31, 2020
2019	$1.20B	−$16.66M	—	—	Dec 31, 2019
2018	$1.87B	−$19.91M	—	—	Dec 31, 2018
2017	$2.03B	−$2.95M	—	—	Dec 31, 2017


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Paychex (PAYX)	20.6×
Copart (CPRT)	20.4×
Otis Worldwide (OTIS)	20.2×
Union Pacific (UNP)	19.9×
Allegion (ALLE)	19.7×
Alamo Group (ALG)	19.6×
Carlisle Companies (CSL)	18.8×
Automatic Data Processing (ADP)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
United Rentals (URI)	18.4×
Pool (POOL)	18.1×
McGrath RentCorp (MGRC)	17.5×
A. O. Smith (AOS)	17.4×
FedEx (FDX)	16.9×
Textron (TXT)	16.6×
United Parcel Service (UPS)	15.9×
ABM Industries (ABM)	15.2×
Gartner (IT)	14.9×
AGCO (AGCO)	10.9×
Delta Air Lines (DAL)	9.7×
United Airlines Holdings (UAL)	8.2×
Versant Media Group, Inc. Class A (VSNT)	6.3×

P/E Ratio for Upwork (UPWK)

P/E Ratio daily chart for Upwork (UPWK)

Historical P/E Ratio for Upwork (UPWK) from 2017 to 2025

About P/E Ratio at Upwork (UPWK)

Upwork P/E Ratio by Year

Upwork P/E Ratio 2025: 22.4×

Upwork P/E Ratio 2024: 10.2×

Upwork P/E Ratio 2023: 43.3×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Upwork (UPWK) Key Financials

P/E Ratio daily chart for Upwork (UPWK)

Historical P/E Ratio for Upwork (UPWK) from 2017 to 2025

About P/E Ratio at Upwork (UPWK)

Upwork P/E Ratio by Year

Upwork P/E Ratio 2025: 22.4×

Upwork P/E Ratio 2024: 10.2×

Upwork P/E Ratio 2023: 43.3×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Upwork's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Upwork?

+Is Upwork's P/E ratio high or low?

+What is Upwork's historical P/E ratio range?

+What was Upwork's P/E ratio in 2025?

+Why does Upwork's P/E ratio change over time?

Upwork (UPWK) Key Financials