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Side-by-side financial comparison of AMPCO PITTSBURGH CORP (AP) and UPWORK, INC (UPWK). Click either name above to swap in a different company.

UPWORK, INC is the larger business by last-quarter revenue ($198.4M vs $104.4M, roughly 1.9× AMPCO PITTSBURGH CORP). UPWORK, INC runs the higher net margin — 7.9% vs -55.2%, a 63.1% gap on every dollar of revenue. On growth, AMPCO PITTSBURGH CORP posted the faster year-over-year revenue change (11.5% vs 3.6%). UPWORK, INC produced more free cash flow last quarter ($63.2M vs $-64.0K). Over the past eight quarters, UPWORK, INC's revenue compounded faster (1.9% CAGR vs -2.6%).

Ampco-Pittsburgh Corporation is a specialty steel manufacturer headquartered in Downtown Pittsburgh, Pennsylvania. It is one of several companies to bear the Ampco name, and it should not be confused with the Milwaukee-based copper base alloy producer, Ampco Metal Inc.; the Miami-based cabinetry company; the Swiss aluminum corporation; or the Dallas-based tool company. Ampco was formed in 1929 and is a conglomerate made up of several previously established small steel makers. Five small compa...

Upwork Inc. is an American freelancing platform headquartered in Santa Clara and San Francisco, California. The company was formed in 2013 as Elance-oDesk after the merger of Elance Inc. and oDesk Corp. The merged company was subsequently rebranded as Upwork in 2015.

AP vs UPWK — Head-to-Head

Bigger by revenue
UPWK
UPWK
1.9× larger
UPWK
$198.4M
$104.4M
AP
Growing faster (revenue YoY)
AP
AP
+7.8% gap
AP
11.5%
3.6%
UPWK
Higher net margin
UPWK
UPWK
63.1% more per $
UPWK
7.9%
-55.2%
AP
More free cash flow
UPWK
UPWK
$63.3M more FCF
UPWK
$63.2M
$-64.0K
AP
Faster 2-yr revenue CAGR
UPWK
UPWK
Annualised
UPWK
1.9%
-2.6%
AP

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
AP
AP
UPWK
UPWK
Revenue
$104.4M
$198.4M
Net Profit
$-57.7M
$15.6M
Gross Margin
78.0%
Operating Margin
-54.0%
14.3%
Net Margin
-55.2%
7.9%
Revenue YoY
11.5%
3.6%
Net Profit YoY
-1958.9%
-89.4%
EPS (diluted)
$-2.87
$0.12

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AP
AP
UPWK
UPWK
Q4 25
$104.4M
$198.4M
Q3 25
$103.7M
$201.7M
Q2 25
$108.9M
$194.9M
Q1 25
$99.2M
$192.7M
Q4 24
$93.6M
$191.5M
Q3 24
$92.1M
$193.8M
Q2 24
$107.1M
$193.1M
Q1 24
$110.0M
$190.9M
Net Profit
AP
AP
UPWK
UPWK
Q4 25
$-57.7M
$15.6M
Q3 25
$-2.2M
$29.3M
Q2 25
$-7.3M
$32.7M
Q1 25
$1.1M
$37.7M
Q4 24
$3.1M
$147.2M
Q3 24
$-2.0M
$27.8M
Q2 24
$2.0M
$22.2M
Q1 24
$-2.7M
$18.4M
Gross Margin
AP
AP
UPWK
UPWK
Q4 25
78.0%
Q3 25
77.3%
Q2 25
77.7%
Q1 25
78.3%
Q4 24
77.7%
Q3 24
77.6%
Q2 24
77.3%
Q1 24
76.9%
Operating Margin
AP
AP
UPWK
UPWK
Q4 25
-54.0%
14.3%
Q3 25
1.1%
14.8%
Q2 25
-2.8%
16.7%
Q1 25
3.9%
20.1%
Q4 24
5.5%
7.1%
Q3 24
2.0%
10.7%
Q2 24
4.7%
9.2%
Q1 24
0.1%
6.8%
Net Margin
AP
AP
UPWK
UPWK
Q4 25
-55.2%
7.9%
Q3 25
-2.1%
14.5%
Q2 25
-6.7%
16.8%
Q1 25
1.2%
19.6%
Q4 24
3.3%
76.9%
Q3 24
-2.1%
14.3%
Q2 24
1.9%
11.5%
Q1 24
-2.5%
9.7%
EPS (diluted)
AP
AP
UPWK
UPWK
Q4 25
$-2.87
$0.12
Q3 25
$-0.11
$0.21
Q2 25
$-0.36
$0.24
Q1 25
$0.06
$0.27
Q4 24
$0.16
$1.02
Q3 24
$-0.10
$0.20
Q2 24
$0.10
$0.17
Q1 24
$-0.14
$0.13

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AP
AP
UPWK
UPWK
Cash + ST InvestmentsLiquidity on hand
$10.7M
$672.8M
Total DebtLower is stronger
$117.9M
$359.8M
Stockholders' EquityBook value
$32.6M
$630.3M
Total Assets
$495.4M
$1.3B
Debt / EquityLower = less leverage
3.61×
0.57×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AP
AP
UPWK
UPWK
Q4 25
$10.7M
$672.8M
Q3 25
$15.0M
$643.1M
Q2 25
$9.9M
$634.6M
Q1 25
$7.1M
$622.1M
Q4 24
$15.4M
$622.1M
Q3 24
$11.8M
$601.2M
Q2 24
$7.9M
$497.7M
Q1 24
$10.8M
$490.6M
Total Debt
AP
AP
UPWK
UPWK
Q4 25
$117.9M
$359.8M
Q3 25
$119.0M
$359.3M
Q2 25
$115.9M
Q1 25
$115.0M
Q4 24
$116.4M
$357.9M
Q3 24
$116.0M
Q2 24
$119.4M
Q1 24
$116.2M
Stockholders' Equity
AP
AP
UPWK
UPWK
Q4 25
$32.6M
$630.3M
Q3 25
$60.1M
$628.1M
Q2 25
$62.7M
$608.7M
Q1 25
$64.6M
$594.3M
Q4 24
$58.9M
$575.4M
Q3 24
$61.3M
$411.2M
Q2 24
$58.0M
$361.1M
Q1 24
$56.3M
$348.9M
Total Assets
AP
AP
UPWK
UPWK
Q4 25
$495.4M
$1.3B
Q3 25
$524.4M
$1.3B
Q2 25
$537.2M
$1.3B
Q1 25
$536.2M
$1.2B
Q4 24
$530.9M
$1.2B
Q3 24
$547.4M
$1.1B
Q2 24
$560.8M
$1.0B
Q1 24
$565.8M
$1.0B
Debt / Equity
AP
AP
UPWK
UPWK
Q4 25
3.61×
0.57×
Q3 25
1.98×
0.57×
Q2 25
1.85×
Q1 25
1.78×
Q4 24
1.98×
0.62×
Q3 24
1.89×
Q2 24
2.06×
Q1 24
2.06×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AP
AP
UPWK
UPWK
Operating Cash FlowLast quarter
$2.7M
$63.7M
Free Cash FlowOCF − Capex
$-64.0K
$63.2M
FCF MarginFCF / Revenue
-0.1%
31.9%
Capex IntensityCapex / Revenue
2.7%
0.2%
Cash ConversionOCF / Net Profit
4.07×
TTM Free Cash FlowTrailing 4 quarters
$-8.1M
$242.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AP
AP
UPWK
UPWK
Q4 25
$2.7M
$63.7M
Q3 25
$6.3M
$75.1M
Q2 25
$-2.3M
$72.5M
Q1 25
$-5.3M
$37.0M
Q4 24
$7.5M
$38.6M
Q3 24
$11.4M
$61.0M
Q2 24
$-5.3M
$39.2M
Q1 24
$4.5M
$14.8M
Free Cash Flow
AP
AP
UPWK
UPWK
Q4 25
$-64.0K
$63.2M
Q3 25
$3.3M
$74.6M
Q2 25
$-3.8M
$70.1M
Q1 25
$-7.5M
$34.5M
Q4 24
$3.7M
$37.0M
Q3 24
$8.4M
$59.8M
Q2 24
$-8.0M
$38.6M
Q1 24
$1.7M
$14.6M
FCF Margin
AP
AP
UPWK
UPWK
Q4 25
-0.1%
31.9%
Q3 25
3.2%
37.0%
Q2 25
-3.5%
36.0%
Q1 25
-7.5%
17.9%
Q4 24
4.0%
19.3%
Q3 24
9.1%
30.8%
Q2 24
-7.5%
20.0%
Q1 24
1.5%
7.7%
Capex Intensity
AP
AP
UPWK
UPWK
Q4 25
2.7%
0.2%
Q3 25
2.9%
0.2%
Q2 25
1.3%
1.2%
Q1 25
2.2%
1.3%
Q4 24
4.0%
0.8%
Q3 24
3.2%
0.6%
Q2 24
2.5%
0.3%
Q1 24
2.6%
0.1%
Cash Conversion
AP
AP
UPWK
UPWK
Q4 25
4.07×
Q3 25
2.56×
Q2 25
2.22×
Q1 25
-4.62×
0.98×
Q4 24
2.40×
0.26×
Q3 24
2.20×
Q2 24
-2.64×
1.76×
Q1 24
0.80×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AP
AP

Forged And Cast Mill Rolls$67.0M64%
Air Handling Systems$14.3M14%
Heat Exchange Coils$13.1M13%
Centrifugal Pumps$10.3M10%
Forged Engineered Products$4.0M4%

UPWK
UPWK

Segment breakdown not available.

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