Upwork Inc (UPWK) - Net Assets
Based on the latest financial reports, Upwork Inc (UPWK) has net assets worth $630.32 Million USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.30 Billion) and total liabilities ($669.26 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Upwork Inc liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $630.32 Million |
| % of Total Assets | 48.5% |
| Annual Growth Rate | N/A |
| 5-Year Change | 142.88% |
| 10-Year Change | N/A |
| Growth Volatility | 23.88 |
Upwork Inc - Net Assets Trend (2016–2025)
This chart illustrates how Upwork Inc's net assets have evolved over time, based on quarterly financial data. Also explore how large is Upwork Inc's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for Upwork Inc (2016–2025)
The table below shows the annual net assets of Upwork Inc from 2016 to 2025. For live valuation and market cap data, see market value of Upwork Inc.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $630.32 Million | +9.55% |
| 2024-12-31 | $575.38 Million | +50.99% |
| 2023-12-31 | $381.07 Million | +53.12% |
| 2022-12-31 | $248.88 Million | -4.10% |
| 2021-12-31 | $259.52 Million | -13.29% |
| 2020-12-31 | $299.31 Million | +15.37% |
| 2019-12-31 | $259.42 Million | +6.43% |
| 2018-12-31 | $243.75 Million | +877.07% |
| 2017-12-31 | $-31.37 Million | -4.10% |
| 2016-12-31 | $-30.13 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Upwork Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 15641800000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $36.95 Million | 5.86% |
| Common Stock | $13.00K | 0.00% |
| Other Comprehensive Income | $754.00K | 0.12% |
| Other Components | $592.60 Million | 94.02% |
| Total Equity | $630.32 Million | 100.00% |
Upwork Inc Competitors by Market Cap
The table below lists competitors of Upwork Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Fenda Technology Co Ltd
SHE:002681
|
$1.37 Billion |
|
Proto Labs Inc
NYSE:PRLB
|
$1.37 Billion |
|
Zhejiang Youpon Integrated Ceiling Co Ltd
SHE:002718
|
$1.37 Billion |
|
Sigma Lithium Resources Corp
NASDAQ:SGML
|
$1.37 Billion |
|
Kailuan Energy Chemical Co Ltd
SHG:600997
|
$1.37 Billion |
|
Dar Global Plc
LSE:DAR
|
$1.37 Billion |
|
Morgan Stanley Direct Lending Fund
NYSE:MSDL
|
$1.37 Billion |
|
Enovix Corp
NASDAQ:ENVX
|
$1.37 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Upwork Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 575,377,000 to 630,315,000, a change of 54,938,000 (9.5%).
- Net income of 115,425,000 contributed positively to equity growth.
- Share repurchases of 135,959,000 reduced equity.
- Other comprehensive income increased equity by 490,000.
- Other factors increased equity by 74,982,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $115.42 Million | +18.31% |
| Share Repurchases | $135.96 Million | -21.57% |
| Other Comprehensive Income | $490.00K | +0.08% |
| Other Changes | $74.98 Million | +11.9% |
| Total Change | $- | 9.55% |
Book Value vs Market Value Analysis
This analysis compares Upwork Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.34x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | $-0.93 | $10.49 | x |
| 2017-12-31 | $-0.33 | $10.49 | x |
| 2018-12-31 | $2.35 | $10.49 | x |
| 2019-12-31 | $2.36 | $10.49 | x |
| 2020-12-31 | $2.52 | $10.49 | x |
| 2021-12-31 | $2.04 | $10.49 | x |
| 2022-12-31 | $1.91 | $10.49 | x |
| 2023-12-31 | $2.78 | $10.49 | x |
| 2024-12-31 | $4.02 | $10.49 | x |
| 2025-12-31 | $4.48 | $10.49 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Upwork Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 18.31%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.65%
- • Asset Turnover: 0.61x
- • Equity Multiplier: 2.06x
- Recent ROE (18.31%) is above the historical average (-1.19%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 0.00% | -9.87% | 0.66x | 0.00x | $-13.22 Million |
| 2017 | 0.00% | -2.04% | 0.74x | 0.00x | $-986.30K |
| 2018 | -8.17% | -7.86% | 0.65x | 1.61x | $-44.28 Million |
| 2019 | -6.42% | -5.54% | 0.67x | 1.72x | $-42.60 Million |
| 2020 | -7.64% | -6.12% | 0.71x | 1.77x | $-52.80 Million |
| 2021 | -21.67% | -11.19% | 0.47x | 4.17x | $-82.19 Million |
| 2022 | -36.12% | -14.54% | 0.57x | 4.34x | $-114.77 Million |
| 2023 | 12.30% | 6.80% | 0.66x | 2.72x | $8.78 Million |
| 2024 | 37.47% | 28.02% | 0.63x | 2.11x | $158.05 Million |
| 2025 | 18.31% | 14.65% | 0.61x | 2.06x | $52.39 Million |
Industry Comparison
This section compares Upwork Inc's net assets metrics with peer companies in the Internet Content & Information industry.
Industry Context
- Industry: Internet Content & Information
- Average net assets among peers: $4,720,440,688
- Average return on equity (ROE) among peers: -6.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Upwork Inc (UPWK) | $630.32 Million | 0.00% | 1.06x | $1.37 Billion |
| Calibre (ALWIN) | $9.89 Million | -68.49% | 2.74x | $11.23 Million |
| ANGI Homeservices Inc (ANGI) | $-22.17 Million | 0.00% | 0.00x | $306.40 Million |
| Arena Group Holdings Inc (AREN) | $-52.15 Million | 0.00% | 0.00x | $123.41 Million |
| Autohome Inc (ATHM) | $7.12 Billion | 13.92% | 0.06x | $2.20 Billion |
| Baidu Inc (BIDU) | $8.41 Billion | 41.94% | 0.31x | $35.02 Billion |
| Bilibili Inc (BILI) | $15.24 Billion | -49.26% | 1.74x | $7.20 Billion |
| Bumble Inc (BMBL) | $1.35 Billion | -41.29% | 0.87x | $540.03 Million |
| The Beachbody Company, Inc. (BODI) | $87.40 Million | 36.95% | 2.33x | $62.80 Million |
| Kanzhun Ltd ADR (BZ) | $14.96 Billion | 10.59% | 0.29x | $5.37 Billion |
| BuzzFeed Inc (BZFD) | $106.94 Million | -9.44% | 1.07x | $28.12 Million |
About Upwork Inc
Upwork Inc., together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company's work marketplace provides access to talent with various skills across a range of categories, including administrative support, sales and marketing, design and creative,… Read more