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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) 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 $159.9M, roughly 1.2× INSTEEL INDUSTRIES INC). UPWORK, INC runs the higher net margin — 7.9% vs 4.7%, a 3.1% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 3.6%). UPWORK, INC produced more free cash flow last quarter ($63.2M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% CAGR vs 1.9%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs UPWK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $198.4M |
| Net Profit | $7.6M | $15.6M |
| Gross Margin | 11.3% | 78.0% |
| Operating Margin | 6.0% | 14.3% |
| Net Margin | 4.7% | 7.9% |
| Revenue YoY | 23.3% | 3.6% |
| Net Profit YoY | 602.4% | -89.4% |
| EPS (diluted) | $0.39 | $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 | $159.9M | $198.4M | ||
| Q3 25 | $177.4M | $201.7M | ||
| Q2 25 | $179.9M | $194.9M | ||
| Q1 25 | $160.7M | $192.7M | ||
| Q4 24 | $129.7M | $191.5M | ||
| Q3 24 | $134.3M | $193.8M | ||
| Q2 24 | $145.8M | $193.1M | ||
| Q1 24 | $127.4M | $190.9M |
| Q4 25 | $7.6M | $15.6M | ||
| Q3 25 | $14.6M | $29.3M | ||
| Q2 25 | $15.2M | $32.7M | ||
| Q1 25 | $10.2M | $37.7M | ||
| Q4 24 | $1.1M | $147.2M | ||
| Q3 24 | $4.7M | $27.8M | ||
| Q2 24 | $6.6M | $22.2M | ||
| Q1 24 | $6.9M | $18.4M |
| Q4 25 | 11.3% | 78.0% | ||
| Q3 25 | 16.1% | 77.3% | ||
| Q2 25 | 17.1% | 77.7% | ||
| Q1 25 | 15.3% | 78.3% | ||
| Q4 24 | 7.3% | 77.7% | ||
| Q3 24 | 9.1% | 77.6% | ||
| Q2 24 | 10.6% | 77.3% | ||
| Q1 24 | 12.3% | 76.9% |
| Q4 25 | 6.0% | 14.3% | ||
| Q3 25 | 10.8% | 14.8% | ||
| Q2 25 | 11.0% | 16.7% | ||
| Q1 25 | 8.3% | 20.1% | ||
| Q4 24 | 1.1% | 7.1% | ||
| Q3 24 | 4.5% | 10.7% | ||
| Q2 24 | 6.0% | 9.2% | ||
| Q1 24 | 7.0% | 6.8% |
| Q4 25 | 4.7% | 7.9% | ||
| Q3 25 | 8.2% | 14.5% | ||
| Q2 25 | 8.4% | 16.8% | ||
| Q1 25 | 6.4% | 19.6% | ||
| Q4 24 | 0.8% | 76.9% | ||
| Q3 24 | 3.5% | 14.3% | ||
| Q2 24 | 4.5% | 11.5% | ||
| Q1 24 | 5.4% | 9.7% |
| Q4 25 | $0.39 | $0.12 | ||
| Q3 25 | $0.74 | $0.21 | ||
| Q2 25 | $0.78 | $0.24 | ||
| Q1 25 | $0.52 | $0.27 | ||
| Q4 24 | $0.06 | $1.02 | ||
| Q3 24 | $0.24 | $0.20 | ||
| Q2 24 | $0.34 | $0.17 | ||
| Q1 24 | $0.35 | $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 | $15.6M | $672.8M |
| Total DebtLower is stronger | — | $359.8M |
| Stockholders' EquityBook value | $358.8M | $630.3M |
| Total Assets | $456.1M | $1.3B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $672.8M | ||
| Q3 25 | $38.6M | $643.1M | ||
| Q2 25 | $53.7M | $634.6M | ||
| Q1 25 | $28.4M | $622.1M | ||
| Q4 24 | $36.0M | $622.1M | ||
| Q3 24 | $111.5M | $601.2M | ||
| Q2 24 | $97.7M | $497.7M | ||
| Q1 24 | $83.9M | $490.6M |
| Q4 25 | — | $359.8M | ||
| Q3 25 | — | $359.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $357.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $358.8M | $630.3M | ||
| Q3 25 | $371.5M | $628.1M | ||
| Q2 25 | $356.2M | $608.7M | ||
| Q1 25 | $341.4M | $594.3M | ||
| Q4 24 | $331.6M | $575.4M | ||
| Q3 24 | $350.9M | $411.2M | ||
| Q2 24 | $346.0M | $361.1M | ||
| Q1 24 | $340.6M | $348.9M |
| Q4 25 | $456.1M | $1.3B | ||
| Q3 25 | $462.6M | $1.3B | ||
| Q2 25 | $471.9M | $1.3B | ||
| Q1 25 | $421.9M | $1.2B | ||
| Q4 24 | $404.7M | $1.2B | ||
| Q3 24 | $422.6M | $1.1B | ||
| Q2 24 | $414.6M | $1.0B | ||
| Q1 24 | $397.2M | $1.0B |
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-701.0K | $63.7M |
| Free Cash FlowOCF − Capex | $-2.2M | $63.2M |
| FCF MarginFCF / Revenue | -1.4% | 31.9% |
| Capex IntensityCapex / Revenue | 0.9% | 0.2% |
| Cash ConversionOCF / Net Profit | -0.09× | 4.07× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $242.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $63.7M | ||
| Q3 25 | $-17.0M | $75.1M | ||
| Q2 25 | $28.5M | $72.5M | ||
| Q1 25 | $-3.3M | $37.0M | ||
| Q4 24 | $19.0M | $38.6M | ||
| Q3 24 | $16.2M | $61.0M | ||
| Q2 24 | $18.8M | $39.2M | ||
| Q1 24 | $1.4M | $14.8M |
| Q4 25 | $-2.2M | $63.2M | ||
| Q3 25 | $-18.7M | $74.6M | ||
| Q2 25 | $26.9M | $70.1M | ||
| Q1 25 | $-5.5M | $34.5M | ||
| Q4 24 | $16.3M | $37.0M | ||
| Q3 24 | $14.5M | $59.8M | ||
| Q2 24 | $15.5M | $38.6M | ||
| Q1 24 | $-580.0K | $14.6M |
| Q4 25 | -1.4% | 31.9% | ||
| Q3 25 | -10.6% | 37.0% | ||
| Q2 25 | 15.0% | 36.0% | ||
| Q1 25 | -3.5% | 17.9% | ||
| Q4 24 | 12.6% | 19.3% | ||
| Q3 24 | 10.8% | 30.8% | ||
| Q2 24 | 10.7% | 20.0% | ||
| Q1 24 | -0.5% | 7.7% |
| Q4 25 | 0.9% | 0.2% | ||
| Q3 25 | 1.0% | 0.2% | ||
| Q2 25 | 0.9% | 1.2% | ||
| Q1 25 | 1.4% | 1.3% | ||
| Q4 24 | 2.1% | 0.8% | ||
| Q3 24 | 1.3% | 0.6% | ||
| Q2 24 | 2.2% | 0.3% | ||
| Q1 24 | 1.5% | 0.1% |
| Q4 25 | -0.09× | 4.07× | ||
| Q3 25 | -1.17× | 2.56× | ||
| Q2 25 | 1.88× | 2.22× | ||
| Q1 25 | -0.32× | 0.98× | ||
| Q4 24 | 17.56× | 0.26× | ||
| Q3 24 | 3.48× | 2.20× | ||
| Q2 24 | 2.86× | 1.76× | ||
| Q1 24 | 0.20× | 0.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
UPWK
Segment breakdown not available.
