Company / Operating Margin
Upwork, Inc. Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
16.4%
FY2025
5-year range
-6.2% / 16.4%
FY2021-FY2025
Trend
+93.5%
vs FY2024
Sector context
#73 of 304
Industrials
What the data says
Upwork, Inc.'s operating margin of 16.4% is higher than 76% of companies in the Industrials sector (FY2025). Operating Margin has increased for 4 consecutive years, from -6.2% in FY2021 to 16.4% in FY2025.
Based on SEC 10-K filings.
16.4% in FY2025 with a 5-year CAGR of +21.0%. Top quartile in the Industrials sector.
Improved from -1.6% to 16.4% over the past 2 years.
Industrials sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +22.4pp
- 5-Year Change
- +21.0pp
- 10-Year Change
- -
Sector benchmark
Top 24% in IndustrialsTop 24% of 304This company 16.4% Sector average -843.0%
▼
+101.9% above sector average
Key checks
Key Insights
- Upwork, Inc.'s operating margin has grown for 4 consecutive years.
- In FY2025, operating margin increased 93.5% year-over-year.
- Currently 859.4pp above the Industrials sector average.
- Lowest operating margin in the period was in FY2018.
Company context
Key Data Points
- Strong profit margin: 28.0%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 16.4% | +93.5% |
| FY2024 | 8.5% | +620.2% |
| FY2023 | -1.6% | +72.8% |
| FY2022 | -6.0% | +3.7% |
| FY2021 | -6.2% | -34.8% |
| FY2020 | -4.6% | -200.0% |
| FY2019 | -1.5% | +82.5% |
| FY2018 | -8.8% | -470.8% |
| FY2017 | -1.5% | +82.5% |
| FY2016 | -8.8% | - |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026