UPWK Upwork PE ratio, current and historical analysis
- Stocks
- Industrials
- NASDAQ: UPWK
- PE Ratio
As of Jul 9, 2025, the UPWK stock has a PE ratio of 7.78. The calculation is based on the latest EPS of $1.76 and the stock price of $13.7 per share. A decrease of 41% has been observed in the PE ratio compared to its average of 13.2 of the last four quarters.
UPWK PE ratio history
The mean historical PE ratio of Upwork over the last two years is 36.52. The current 7.78 P/E ratio is 79% lower than the historical average. Looking back at the last two years, UPWK's PE ratio peaked in the Sep 2023 quarter at 126.22, with a price of $11.36 and an EPS of $0.09. The Mar 2025 quarter marked the lowest point at 7.41, with a price of $13.05 and an EPS of $1.76.
Upwork PE ratio history chart
Upwork PE ratio by year
Maximum annual decrease: -76.09% in 2024
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2024 | 10.16 | -76.09% | $16.35 | $1.61 |
| 2023 | 42.49 | N/A | $14.87 | $0.35 |
| 2022 | N/A | N/A | $10.44 | -$0.69 |
| 2021 | N/A | N/A | $34.16 | -$0.44 |
| 2020 | N/A | N/A | $34.52 | -$0.19 |
| 2019 | N/A | N/A | $10.67 | -$0.15 |
| 2018 | N/A | N/A | $18.11 | -$0.38 |
| 2017 | N/A | N/A | N/A | -$0.32 |
| 2016 | N/A | N/A | N/A | -$0.51 |
Upwork PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2025 | 7.41 | -27.07% | $13.05 | $1.76 |
| Dec 2024 | 10.16 | -36.82% | $16.35 | $1.61 |
| Sep 2024 | 16.08 | -16.25% | $10.45 | $0.65 |
| Jun 2024 | 19.2 | -43.63% | $10.75 | $0.56 |
| Mar 2024 | 34.06 | -19.84% | $12.26 | $0.36 |
| Dec 2023 | 42.49 | -66.34% | $14.87 | $0.35 |
| Sep 2023 | 126.22 | N/A | $11.36 | $0.09 |
| Jun 2023 | N/A | N/A | $9.34 | -$0.22 |
| Mar 2023 | N/A | N/A | $11.32 | -$0.37 |
| Dec 2022 | N/A | N/A | $10.44 | -$0.69 |
| Sep 2022 | N/A | N/A | $13.62 | -$0.73 |
| Jun 2022 | N/A | N/A | $20.68 | -$0.61 |
| Mar 2022 | N/A | N/A | $23.24 | -$0.56 |
| Dec 2021 | N/A | N/A | $34.16 | -$0.44 |
| Sep 2021 | N/A | N/A | $45.03 | -$0.25 |
UPWK Price vs fair value
You can ether set your own Fair P/E multiple or use one of the automatically calculated Fair P/E multiples.
Fair P/E calculation
PE Ratio is an attempt to estimate a fair PE ratio of a stock based on its earnings and growth rate.
This formula is a modified version of the classic Graham-Dodd Formula (V= EPS x (8.5+2g)), originally developed by Benjamin Graham, to calculate the fair price of a stock based on its earnings and growth rate.
The formula we have created is an adaptation of this approach, designed to maintain a balance between simplicity and growth sensitivity.
It is calculated using the following formula:
IF g < 5: Fair PE = b
IF g >= 5: Fair PE = m × g
Here’s what each part of the formula means:
g: Growth is calculated as the average of the three-year average EPS growth rate and the one-year EPS growth rate (annually). This approach provides a balanced measure of growth by factoring in both the long-term growth trend and the most recent annual growth performance. If one of the growth metrics is not available, the remaining metric is used to determine growth. The fair P/E value is capped at 100 to prevent distortions caused by extreme EPS growth rates, such as those resulting from large percentage increases from a low base.
m: This is the long term historical median PEG (Price/Earnings to Growth) ratio of the overall market. It serves as a benchmark, adjusting the Fair PE based on typical market conditions.
b: Base PE (static value set to 8). If the company's growth rate is less than 5, the Fair PE is set at a conservative baseline of 8. This is because declining companies generally deserve a lower PE ratio.
Fixed vs Dynamic
Fixed: The Fair PE ratio for all data points is calculated using a single, constant average EPS growth rate, determined based on the most recent period. This means that the same growth rate is applied to all historical data points. Dynamic: The Fair PE ratio for each historical data point is calculated using the trailing average EPS growth rate specific to that point in time. This means that for each data point, the corresponding trailing EPS growth rate is used, ensuring that the Fair PE ratio reflects the growth conditions that were relevant at that specific point in history.
UPWK average PE ratio chart
The current PE ratio of UPWK is lower than its 3 and 5-year averages.
PE vs average
UPWK PE vs peers
In comparison to its peer stock PINS, UPWK's PE ratio is lower.
| Stock name | PE ratio | Market cap |
|---|---|---|
| UPWK Upwork Inc | 7.78 | $1.8B |
| PINS Pinterest Inc | 12.86 | $24.28B |
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Frequently asked questions
What is Upwork's PE ratio?
The price to earnings ratio for UPWK stock is 7.78 as of Jul 9, 2025.
What is the 3-year average PE ratio for Upwork (UPWK)?
As an average over the last 3 years, UPWK stock has a PE ratio of 36.52.
What is the 5-year average PE ratio for Upwork (UPWK)?
As an average over the last 5 years, UPWK stock has a PE ratio of 36.52.
What is the highest PE ratio for UPWK?
Over the last two years, the Sep 2023 quarter recorded the highest quarterly PE ratio at 126.22.
How does the current PE ratio for UPWK compare to its historical average?
UPWK's current price to earnings ratio is 79% below its 2-year historical average.
Why is Upwork's PE ratio so low?
UPWK's PE ratio is low because the stock price is relatively cheap compared to the earnings generated by the company.
How is UPWK's PE ratio calculated (Upwork PE ratio formula)?
You can calculate the P/E ratio by dividing the most recent stock price by the trailing twelve months EPS. As of today (Jul 9, 2025), Upwork's share price is $13.7. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2025 is $1.76. Therefore, Upwork's PE ratio for today is 7.78. PE RATIO(7.78) = STOCK PRICE($13.7) / TTM EPS($1.76)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.