UPWK
Upwork Inc.
UPWK trails on the overall score without a compensating advantage in the available component scores.
VRT
Vertiv Holdings Co
VRT has the edge over UPWK overall, supported by stronger valuation and stronger modeled upside.
UPWK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
UPWK's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
UPWK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 8.7x | $9.86 | — |
| Cheap | 9.3x | $7.56 | -23% |
| Fair | 12x | $9.55 | -3.1% |
| Current | 12x | $9.86 | — |
| Expensive | 30x | $23.95 | +143% |
Historical ranges are pointers, not guarantees.
UPWK's PE is in its fair range at 12x. On analysts' estimates for next year's earnings, today's price would be 8.7x, in its cheap range.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT has the edge over UPWK in the historical PE scenario, which offers more potential upside but is not a forecast.
UPWK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Decline | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect UPWK's earnings and revenue to decline, though with profitability holding steady.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
VRT has the edge over UPWK on the outlook, with more favorable earnings and revenue expectations.
UPWK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.13 | +39% |
| Q3 2026 | $0.81 | -53% |
| Q2 2026 | $0.77 | -55% |
| Q1 2026 | $0.81 | -51% |
| Q4 2025 | $0.84 | -45% |
| Q3 2025 | $1.74 | +181% |
| Q2 2025 | $1.73 | +220% |
| Q1 2025 | $1.66 | +388% |
| Q4 2024 | $1.52 | +2433% |
UPWK's earnings per share have fallen from their peak: $0.81 over the past year, against $1.74 in late 2025.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over UPWK on earnings, with more consistent year-over-year improvement.
UPWK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $185.6M | -8% |
| Q2 2026 | $191.7M | -1.7% |
| Q1 2026 | $195.5M | +1.4% |
| Q4 2025 | $198.4M | +3.6% |
| Q3 2025 | $201.7M | +4.1% |
| Q2 2025 | $194.9M | +0.9% |
| Q1 2025 | $192.7M | +0.9% |
| Q4 2024 | $191.5M | +4.1% |
UPWK's revenue grew through 2024 and has held roughly level since: $186M last quarter, down 8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +3.9 points |
| Q2 2026 | 15% | -2 points |
| Q1 2026 | 17% | -3.3 points |
| Q4 2025 | 14% | +7.2 points |
| Q3 2025 | 15% | +4 points |
| Q2 2025 | 17% | +7.5 points |
| Q1 2025 | 20% | +13 points |
| Q4 2024 | 7.1% | +2.5 points |
UPWK's operating margin was 19% last quarter, up 3.9 points from the same quarter a year ago, near the top of its range since 2019.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over UPWK on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over UPWK on profitability, with a higher operating margin.
UPWK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.8M | -17% |
| Q2 2026 | $45.3M | -35% |
| Q1 2026 | $21.3M | -38% |
| Q4 2025 | $63.2M | +811% |
| Q3 2025 | $74.6M | -26% |
| Q2 2025 | $70.1M | +91% |
| Q1 2025 | $34.5M | +530% |
| Q4 2024 | $6.9M | +$12.4M |
UPWK generated $192M in free cash flow over the past year, up 2.9% from the year before.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over UPWK on cash flow, with more consistent year-over-year improvement.
UPWK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -1.7M shares |
| 1 year | -8.2% | -11.4M shares |
| 3 years | -6.6% | -9M shares |
| 5 years | +0.3% | +346K shares |
| Available history | +17% | +18.4M shares |
UPWK has the edge over VRT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $1.8M |
| Q1 2026 | $107.9M |
| Q4 2025 | $34M |
| Q3 2025 | $31M |
| Q2 2025 | $37.9M |
| Q1 2025 | $33.1M |
| Q4 2024 | — |
UPWK spent $144M buying back its own shares over the past year, up 41% from the year before.
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has 393M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
UPWK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.4x | Net Cash |
| Q2 2026 | -0.8x | Net Cash |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.6x | Very low |
| Q1 2025 | 0.6x | Very low |
| Q4 2024 | 0.8x | Very low |
UPWK has the edge over VRT on leverage, with a lower net debt burden relative to earnings.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has more cash than debt.
UPWK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.1 | Neutral |
| Stochastic | 72.4 | Neutral |
UPWK's weekly RSI is 52 (neutral) and its Stochastic is 72 (neutral).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
UPWK PE vs Industrials Sector
| Metric | UPWK | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 24x | 49% below |
| PE % | 52 | 58 | 6 pts below |
UPWK has the edge over VRT on valuation relative to its sector.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT is trading at 39x earnings, a 63% premium to the Industrials sector's median of 24x.
UPWK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.97 | 9.9% above |
| 20 week MA | $8.92 | 11% above |
| 50 week MA | $11.9 | 17% below |
| 100 week MA | $13.6 | 27% below |
| 200 week MA | $12.8 | 23% below |
UPWK has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 23% below its 200-week average.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above its 200-week average.
UPWK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.4 | $37.8 | +263% |
| 2021 | $37.8 | $33.6 | -11% |
| 2022 | $33.6 | $10.4 | -69% |
| 2023 | $10.4 | $14.9 | +43% |
| 2024 | $14.9 | $16.9 | +14% |
| 2025 | $16.9 | $20.9 | +23% |
| 2026 YTD | $20.9 | $9.86 | -53% |
UPWK's yearly returns have swung widely, from +263% in 2020 to −69% in 2022. It's down 53% so far in 2026.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT has the edge over UPWK on returns for 2026, with the stronger performance.