Fact based stock research
Upwork (NasdaqGS:UPWK)

US91688F1049

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Upwork stock research in summary

upwork.com

ANALYSIS: With an Obermatt Combined Rank of 55 (better than 55% compared with investment alternatives), Upwork (HR- & Employment Services, USA) shares have above-average financial characteristics compared with similar stocks. Shares of Upwork are low in value (priced high) with a consolidated Value Rank of 45 (worse than 55% of alternatives) and show below-average growth (Growth Rank of 29) but are safely financed (Safety Rank of 92), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 55, is a buy recommendation based on Upwork's financial characteristics. As the company Upwork's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 45) and low growth (Obermatt Growth Rank of 29), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 92) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	45
Growth Rank	29
Safety Rank	92
Combined Rank	55

Country	USA
Industry	HR- & Employment Services
Index	NASDAQ
Size class	Medium

24-Apr-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Upwork

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	9	60	55	45
GROWTH
GROWTH	51	95	72	29
SAFETY
SAFETY	60	42	100	92
SENTIMENT
SENTIMENT	47	65	40	^new
360° VIEW
360° VIEW	31	97	85	^new

Most recent update of the stock research: 24-Apr-2025. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Upwork is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	9	60	55	45
GROWTH
GROWTH	51	95	72	29
SAFETY
SAFETY	60	42	100	92
COMBINED
COMBINED	20	85	97	55

Last update of combined financial performance: 24-Apr-2025. Stock analysis on combined financial performance: The higher the rank of Upwork the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 45 (worse than 55% compared with alternatives), Upwork shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Upwork. Price-to-Profit (also referred to as price-earnings, P/E) is 85 which means that the stock price compared with what market professionals expect for future profits is lower than for 85% of comparable companies, indicating a good value concerning Upwork's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 51, which means that the stock price is lower as regards to invested capital than for 51% of comparable investments. On the other hand, Price-to-Sales is less favorable than for 55% of alternatives (only 45% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than for 99% of comparable companies, making the stock more expensive compared with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 45, is a hold recommendation based on Upwork's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high concerning expected revenues, the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting Group or BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than distribute it to shareholders through dividends, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	47	62	48	45
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	13	71	74	85
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	24	40	54	51
DIVIDEND YIELD
DIVIDEND YIELD	1	1	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	9	60	55	45

Last update of Value Rank: 24-Apr-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Upwork; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 29 (better than 29% compared with alternatives), Upwork shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Upwork. Capital Growth has a rank of 50, which means that currently professionals expect the company to grow its invested capital more than 28% of its competitors. Investors welcomed this, visible in the Stock Returns rank of 65 (above 65% of alternative investments). But Sales Growth has only a rank of 34, which means that, currently, professionals expect the company to grow less than 66% of its competitors, and Profit Growth is also low at a rank of 28. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 29, is a hold recommendation for growth and momentum investors. This is an ambiguous picture. Revenue growth and capital growth are strong, but the growth in profit, which seems good, can also be an indication that growth momentum may be negative. The fact that stock returns have been above average doesn't help much, as stock returns are less reliable in showing a company’s future growth potential. Prices may perform well for the simple reason that investors were too pessimistic in the past and are now correcting their opinions and moving the stock price to a more reasonable level. As the growth picture is mixed for Upwork, investors may want to look at value and sentiment indicators for a well-rounded picture of this stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	61	63	30	34
PROFIT GROWTH
PROFIT GROWTH	93	96	22	28
CAPITAL GROWTH
CAPITAL GROWTH	1	92	100	50
STOCK RETURNS
STOCK RETURNS	39	63	71	65
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	51	95	72	29

Last update of Growth Rank: 24-Apr-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Upwork.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 92 (better than 92% compared with alternatives) for 2025, the company Upwork has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Upwork is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above-average for Upwork. Refinancing is at 95, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 95% of its competitors. Liquidity is also good at 94, meaning the company generates more profit to service its debt than 94% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 29, which means the company has an above-average debt-to-equity ratio. It has more debt than 71% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 92 (better than 92% compared with alternatives), Upwork has a financing structure that is significantly safer than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and Upwork could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with Upwork and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	63	16	30	29
REFINANCING
REFINANCING	81	87	94	95
LIQUIDITY
LIQUIDITY	19	29	97	94
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	60	42	100	92

Last update of Safety Rank: 24-Apr-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Upwork and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	25	71	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	64	6	^new
PRO HOLDINGS
PRO HOLDINGS	29	73	58	^new
MARKET PULSE
MARKET PULSE	34	74	69	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	47	65	40	^new

Last update of Sentiment Rank: 24-Apr-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Upwork.
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