Upwork price to free cash flow UPWK

Market value divided by free cash flow over the last twelve months, since 2019.

Today, Oct 23, 2026: 5.8×
7-year median: 61.7×
Against its 7-year history: 9th; percentile: 0 is its lowest day, 100 its highest
7-year range: 4.3× to 442×
Peer median: 8.4×

Upwork's price to free cash flow is 5.8× as of Oct 23, 2026.

That is below its 7-year median of 61.7×, lower than on 91% of days in the last 7 years.

Over that time it ranged from 4.3× in Jun 2026 to 442× in Oct 2021.

The median for 10 application software stocks of a similar size is 8.4×.

Price to free cash flow over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	5.8×	4.3×	15.5×
2025	14.6×	8.2×	16.4×
2024	16.5×	14.5×	71.1×
2023	50.5×	46.8×	305×
2022	256×	99.7×	323×
2021	139×	137×	442×
2020	83.4×	55.8×	91.9×
2019	94.9×	94.9×	116×

Against its peers

Companies in Software - Application nearest Upwork's size, closest first, today.

Company	Price to free cash flow
UPWKUpwork	5.8×
LZLegalzoom.Com	8.0×
GDRXGoodRx	6.1×
HSTMHealthstream	14.7×
EVEREverQuote	8.4×
TASKTaskUs	6.5×
YEXTYext	13.7×
MNTNMNTN	n/m
EVTCEVERTEC	9.3×
NRDSNerdwallet	4.3×
INODInnodata	11.1×
Peer median	8.4×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Upwork

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.