Upwork Inc. (UPWK) P/E Ratio History
Historical price-to-earnings valuation from 2023 to 2025
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UPWK Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 7, 2026, Upwork Inc. (UPWK) trades at a price-to-earnings ratio of 12.0x, with a stock price of $10.08 and trailing twelve-month earnings per share of $1.09.
The current P/E is 69% below its 5-year average of 38.3x. Over the past five years, UPWK's P/E has ranged from a low of 7.7x to a high of 212.4x, placing the current valuation at the 44th percentile of its historical range.
Compared to the Industrials sector median P/E of 25.9x, UPWK trades at a 54% discount to its sector peers. The sector includes 414 companies with P/E ratios ranging from 0.0x to 185.4x.
Relative to the broader market, UPWK trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our UPWK DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
UPWK P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $405M | 20.1 | - | +17% | |
| $601M | 6.1 | 0.24Best | +120% | |
| $5B | 76.5 | - | +263% | |
| $7B | 52.7 | - | -4% | |
| $192M | 5.1Lowest | - | +32% | |
| $1B | 55.4 | - | +296%Best | |
| $7B | 15.6 | 0.58 | -9% | |
| $6B | 25.5 | 0.90 | +11% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
UPWK Historical P/E Data (2023–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $19.82 | $0.83 | 23.9x | -38% |
| FY2025 Q3 | $18.57 | $1.75 | 10.6x | -72% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $13.44 | $1.74 | 7.7x | -80% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $13.05 | $1.67 | 7.8x | -80% |
| FY2024 Q4 | $16.35 | $1.53 | 10.7x | -72% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $10.45 | $0.63 | 16.6x | -57% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $10.75 | $0.55 | 19.5x | -49% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $12.26 | $0.35 | 35.0x | -8% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $14.87 | $0.07 | 212.4x | +455% |
Average P/E for displayed period: 38.3x
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Start ComparisonUPWK — Frequently Asked Questions
Quick answers to the most common questions about buying UPWK stock.
Is UPWK stock overvalued or undervalued?
UPWK trades at 12.0x P/E, below its 5-year average of 38.3x. At the 44th percentile of historical range, the stock is priced at a discount to its own history.
How does UPWK's valuation compare to peers?
Upwork Inc. P/E of 12.0x compares to sector median of 25.9x. The discount suggests lower growth expectations or higher risk.
What is UPWK's PEG ratio?
UPWK PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2023-2025.