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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and UPWORK, INC (UPWK). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $198.4M, roughly 1.2× UPWORK, INC). UPWORK, INC runs the higher net margin — 7.9% vs 4.4%, a 3.5% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 3.6%). UPWORK, INC produced more free cash flow last quarter ($63.2M vs $22.7M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs 1.9%).
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.
CSW vs UPWK — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $198.4M |
| Net Profit | $10.3M | $15.6M |
| Gross Margin | 39.7% | 78.0% |
| Operating Margin | 7.4% | 14.3% |
| Net Margin | 4.4% | 7.9% |
| Revenue YoY | 20.3% | 3.6% |
| Net Profit YoY | -61.9% | -89.4% |
| EPS (diluted) | $0.62 | $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.
| Q4 25 | $233.0M | $198.4M | ||
| Q3 25 | $277.0M | $201.7M | ||
| Q2 25 | $263.6M | $194.9M | ||
| Q1 25 | $230.5M | $192.7M | ||
| Q4 24 | $193.6M | $191.5M | ||
| Q3 24 | $227.9M | $193.8M | ||
| Q2 24 | $226.2M | $193.1M | ||
| Q1 24 | $210.9M | $190.9M |
| Q4 25 | $10.3M | $15.6M | ||
| Q3 25 | $40.7M | $29.3M | ||
| Q2 25 | $40.9M | $32.7M | ||
| Q1 25 | $35.1M | $37.7M | ||
| Q4 24 | $26.9M | $147.2M | ||
| Q3 24 | $36.1M | $27.8M | ||
| Q2 24 | $38.6M | $22.2M | ||
| Q1 24 | $31.8M | $18.4M |
| Q4 25 | 39.7% | 78.0% | ||
| Q3 25 | 43.0% | 77.3% | ||
| Q2 25 | 43.8% | 77.7% | ||
| Q1 25 | 44.2% | 78.3% | ||
| Q4 24 | 41.4% | 77.7% | ||
| Q3 24 | 45.6% | 77.6% | ||
| Q2 24 | 47.5% | 77.3% | ||
| Q1 24 | 44.4% | 76.9% |
| Q4 25 | 7.4% | 14.3% | ||
| Q3 25 | 20.5% | 14.8% | ||
| Q2 25 | 20.8% | 16.7% | ||
| Q1 25 | 19.5% | 20.1% | ||
| Q4 24 | 15.3% | 7.1% | ||
| Q3 24 | 22.6% | 10.7% | ||
| Q2 24 | 24.3% | 9.2% | ||
| Q1 24 | 21.0% | 6.8% |
| Q4 25 | 4.4% | 7.9% | ||
| Q3 25 | 14.7% | 14.5% | ||
| Q2 25 | 15.5% | 16.8% | ||
| Q1 25 | 15.2% | 19.6% | ||
| Q4 24 | 13.9% | 76.9% | ||
| Q3 24 | 15.8% | 14.3% | ||
| Q2 24 | 17.1% | 11.5% | ||
| Q1 24 | 15.1% | 9.7% |
| Q4 25 | $0.62 | $0.12 | ||
| Q3 25 | $2.41 | $0.21 | ||
| Q2 25 | $2.43 | $0.24 | ||
| Q1 25 | $2.05 | $0.27 | ||
| Q4 24 | $1.60 | $1.02 | ||
| Q3 24 | $2.26 | $0.20 | ||
| Q2 24 | $2.47 | $0.17 | ||
| Q1 24 | $2.03 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $672.8M |
| Total DebtLower is stronger | — | $359.8M |
| Stockholders' EquityBook value | $1.1B | $630.3M |
| Total Assets | $2.3B | $1.3B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $672.8M | ||
| Q3 25 | $31.5M | $643.1M | ||
| Q2 25 | $38.0M | $634.6M | ||
| Q1 25 | $225.8M | $622.1M | ||
| Q4 24 | $213.8M | $622.1M | ||
| Q3 24 | $273.2M | $601.2M | ||
| Q2 24 | $18.9M | $497.7M | ||
| Q1 24 | $22.2M | $490.6M |
| Q4 25 | — | $359.8M | ||
| Q3 25 | — | $359.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | $357.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $630.3M | ||
| Q3 25 | $1.1B | $628.1M | ||
| Q2 25 | $1.1B | $608.7M | ||
| Q1 25 | $1.1B | $594.3M | ||
| Q4 24 | $1.0B | $575.4M | ||
| Q3 24 | $1.0B | $411.2M | ||
| Q2 24 | $650.2M | $361.1M | ||
| Q1 24 | $615.7M | $348.9M |
| Q4 25 | $2.3B | $1.3B | ||
| Q3 25 | $1.5B | $1.3B | ||
| Q2 25 | $1.5B | $1.3B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.4B | $1.2B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.1B | $1.0B | ||
| Q1 24 | $1.0B | $1.0B |
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $28.9M | $63.7M |
| Free Cash FlowOCF − Capex | $22.7M | $63.2M |
| FCF MarginFCF / Revenue | 9.8% | 31.9% |
| Capex IntensityCapex / Revenue | 2.6% | 0.2% |
| Cash ConversionOCF / Net Profit | 2.81× | 4.07× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $242.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $63.7M | ||
| Q3 25 | $61.8M | $75.1M | ||
| Q2 25 | $60.6M | $72.5M | ||
| Q1 25 | $27.3M | $37.0M | ||
| Q4 24 | $11.6M | $38.6M | ||
| Q3 24 | $66.8M | $61.0M | ||
| Q2 24 | $62.7M | $39.2M | ||
| Q1 24 | $22.4M | $14.8M |
| Q4 25 | $22.7M | $63.2M | ||
| Q3 25 | $58.7M | $74.6M | ||
| Q2 25 | $57.7M | $70.1M | ||
| Q1 25 | $22.8M | $34.5M | ||
| Q4 24 | $8.5M | $37.0M | ||
| Q3 24 | $61.3M | $59.8M | ||
| Q2 24 | $59.6M | $38.6M | ||
| Q1 24 | $17.5M | $14.6M |
| Q4 25 | 9.8% | 31.9% | ||
| Q3 25 | 21.2% | 37.0% | ||
| Q2 25 | 21.9% | 36.0% | ||
| Q1 25 | 9.9% | 17.9% | ||
| Q4 24 | 4.4% | 19.3% | ||
| Q3 24 | 26.9% | 30.8% | ||
| Q2 24 | 26.3% | 20.0% | ||
| Q1 24 | 8.3% | 7.7% |
| Q4 25 | 2.6% | 0.2% | ||
| Q3 25 | 1.1% | 0.2% | ||
| Q2 25 | 1.1% | 1.2% | ||
| Q1 25 | 2.0% | 1.3% | ||
| Q4 24 | 1.6% | 0.8% | ||
| Q3 24 | 2.4% | 0.6% | ||
| Q2 24 | 1.4% | 0.3% | ||
| Q1 24 | 2.3% | 0.1% |
| Q4 25 | 2.81× | 4.07× | ||
| Q3 25 | 1.52× | 2.56× | ||
| Q2 25 | 1.48× | 2.22× | ||
| Q1 25 | 0.78× | 0.98× | ||
| Q4 24 | 0.43× | 0.26× | ||
| Q3 24 | 1.85× | 2.20× | ||
| Q2 24 | 1.62× | 1.76× | ||
| Q1 24 | 0.71× | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
UPWK
Segment breakdown not available.
