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Side-by-side financial comparison of Federal Realty Investment Trust (FRT) and UPWORK, INC (UPWK). Click either name above to swap in a different company.
Federal Realty Investment Trust is the larger business by last-quarter revenue ($336.0M vs $195.5M, roughly 1.7× UPWORK, INC). Federal Realty Investment Trust runs the higher net margin — 38.6% vs 16.1%, a 22.5% gap on every dollar of revenue. On growth, Federal Realty Investment Trust posted the faster year-over-year revenue change (8.7% vs 1.4%). Over the past eight quarters, Federal Realty Investment Trust's revenue compounded faster (6.5% CAGR vs 0.6%).
Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.
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.
FRT vs UPWK — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $336.0M | $195.5M |
| Net Profit | $129.7M | $31.5M |
| Gross Margin | — | 77.2% |
| Operating Margin | 53.8% | 16.7% |
| Net Margin | 38.6% | 16.1% |
| Revenue YoY | 8.7% | 1.4% |
| Net Profit YoY | 103.5% | — |
| EPS (diluted) | $1.49 | $0.24 |
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.
| Q1 26 | $336.0M | $195.5M | ||
| Q4 25 | $336.0M | $198.4M | ||
| Q3 25 | $322.3M | $201.7M | ||
| Q2 25 | $311.5M | $194.9M | ||
| Q1 25 | $309.2M | $192.7M | ||
| Q4 24 | $311.4M | $191.5M | ||
| Q3 24 | $303.6M | $193.8M | ||
| Q2 24 | $296.1M | $193.1M |
| Q1 26 | $129.7M | $31.5M | ||
| Q4 25 | $129.7M | $15.6M | ||
| Q3 25 | $61.6M | $29.3M | ||
| Q2 25 | $155.9M | $32.7M | ||
| Q1 25 | $63.8M | $37.7M | ||
| Q4 24 | $65.5M | $147.2M | ||
| Q3 24 | $61.0M | $27.8M | ||
| Q2 24 | $112.0M | $22.2M |
| Q1 26 | — | 77.2% | ||
| 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 26 | 53.8% | 16.7% | ||
| Q4 25 | 53.8% | 14.3% | ||
| Q3 25 | 34.3% | 14.8% | ||
| Q2 25 | 65.1% | 16.7% | ||
| Q1 25 | 35.0% | 20.1% | ||
| Q4 24 | 35.1% | 7.1% | ||
| Q3 24 | 34.9% | 10.7% | ||
| Q2 24 | 53.0% | 9.2% |
| Q1 26 | 38.6% | 16.1% | ||
| Q4 25 | 38.6% | 7.9% | ||
| Q3 25 | 19.1% | 14.5% | ||
| Q2 25 | 50.0% | 16.8% | ||
| Q1 25 | 20.6% | 19.6% | ||
| Q4 24 | 21.0% | 76.9% | ||
| Q3 24 | 20.1% | 14.3% | ||
| Q2 24 | 37.8% | 11.5% |
| Q1 26 | $1.49 | $0.24 | ||
| Q4 25 | $1.49 | $0.12 | ||
| Q3 25 | $0.69 | $0.21 | ||
| Q2 25 | $1.78 | $0.24 | ||
| Q1 25 | $0.72 | $0.27 | ||
| Q4 24 | $0.74 | $1.02 | ||
| Q3 24 | $0.70 | $0.20 | ||
| Q2 24 | $1.32 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $107.4M | $328.4M |
| Total DebtLower is stronger | $5.0B | — |
| Stockholders' EquityBook value | $3.2B | $569.6M |
| Total Assets | $9.1B | $1.2B |
| Debt / EquityLower = less leverage | 1.53× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $107.4M | $328.4M | ||
| Q4 25 | $107.4M | $672.8M | ||
| Q3 25 | $111.3M | $643.1M | ||
| Q2 25 | $177.0M | $634.6M | ||
| Q1 25 | $109.2M | $622.1M | ||
| Q4 24 | $123.4M | $622.1M | ||
| Q3 24 | $97.0M | $601.2M | ||
| Q2 24 | $103.2M | $497.7M |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $359.8M | ||
| Q3 25 | — | $359.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.5B | $357.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $3.2B | $569.6M | ||
| Q4 25 | $3.2B | $630.3M | ||
| Q3 25 | $3.2B | $628.1M | ||
| Q2 25 | $3.2B | $608.7M | ||
| Q1 25 | $3.2B | $594.3M | ||
| Q4 24 | $3.2B | $575.4M | ||
| Q3 24 | $3.1B | $411.2M | ||
| Q2 24 | $3.0B | $361.1M |
| Q1 26 | $9.1B | $1.2B | ||
| Q4 25 | $9.1B | $1.3B | ||
| Q3 25 | $8.9B | $1.3B | ||
| Q2 25 | $8.6B | $1.3B | ||
| Q1 25 | $8.6B | $1.2B | ||
| Q4 24 | $8.5B | $1.2B | ||
| Q3 24 | $8.5B | $1.1B | ||
| Q2 24 | $8.4B | $1.0B |
| Q1 26 | 1.53× | — | ||
| Q4 25 | 1.53× | 0.57× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.42× | 0.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $23.0M |
| Free Cash FlowOCF − Capex | — | $12.9M |
| FCF MarginFCF / Revenue | — | 6.6% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 0.73× |
| TTM Free Cash FlowTrailing 4 quarters | — | $220.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.0M | ||
| Q4 25 | $622.4M | $63.7M | ||
| Q3 25 | $147.8M | $75.1M | ||
| Q2 25 | $150.7M | $72.5M | ||
| Q1 25 | $179.0M | $37.0M | ||
| Q4 24 | $574.6M | $38.6M | ||
| Q3 24 | $144.1M | $61.0M | ||
| Q2 24 | $169.7M | $39.2M |
| Q1 26 | — | $12.9M | ||
| Q4 25 | — | $63.2M | ||
| Q3 25 | — | $74.6M | ||
| Q2 25 | — | $70.1M | ||
| Q1 25 | — | $34.5M | ||
| Q4 24 | — | $37.0M | ||
| Q3 24 | — | $59.8M | ||
| Q2 24 | — | $38.6M |
| Q1 26 | — | 6.6% | ||
| Q4 25 | — | 31.9% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 36.0% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 30.8% | ||
| Q2 24 | — | 20.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | 0.73× | ||
| Q4 25 | 4.80× | 4.07× | ||
| Q3 25 | 2.40× | 2.56× | ||
| Q2 25 | 0.97× | 2.22× | ||
| Q1 25 | 2.81× | 0.98× | ||
| Q4 24 | 8.77× | 0.26× | ||
| Q3 24 | 2.36× | 2.20× | ||
| Q2 24 | 1.52× | 1.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRT
Segment breakdown not available.
UPWK
| Marketplace | $170.7M | 87% |
| Enterprise | $24.8M | 13% |
