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Side-by-side financial comparison of PARK NATIONAL CORP (PRK) 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 $168.3M, roughly 1.2× PARK NATIONAL CORP). PARK NATIONAL CORP runs the higher net margin — 25.3% vs 7.9%, a 17.5% gap on every dollar of revenue. On growth, UPWORK, INC posted the faster year-over-year revenue change (3.6% vs 2.2%). PARK NATIONAL CORP produced more free cash flow last quarter ($191.9M vs $63.2M). Over the past eight quarters, PARK NATIONAL CORP's revenue compounded faster (4.9% CAGR vs 1.9%).

National Retail Systems, Inc. (NRS) includes Keystone Freight Corp. & National Retail Transportation, Inc. (NRT). NRS is an asset based 3PL founded in 1952. It is headquartered in Lyndhurst, New Jersey, United States.

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.

PRK vs UPWK — Head-to-Head

Bigger by revenue
UPWK
UPWK
1.2× larger
UPWK
$198.4M
$168.3M
PRK
Growing faster (revenue YoY)
UPWK
UPWK
+1.4% gap
UPWK
3.6%
2.2%
PRK
Higher net margin
PRK
PRK
17.5% more per $
PRK
25.3%
7.9%
UPWK
More free cash flow
PRK
PRK
$128.7M more FCF
PRK
$191.9M
$63.2M
UPWK
Faster 2-yr revenue CAGR
PRK
PRK
Annualised
PRK
4.9%
1.9%
UPWK

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
PRK
PRK
UPWK
UPWK
Revenue
$168.3M
$198.4M
Net Profit
$42.6M
$15.6M
Gross Margin
78.0%
Operating Margin
14.3%
Net Margin
25.3%
7.9%
Revenue YoY
2.2%
3.6%
Net Profit YoY
10.4%
-89.4%
EPS (diluted)
$2.62
$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.

Revenue
PRK
PRK
UPWK
UPWK
Q4 25
$168.3M
$198.4M
Q3 25
$169.5M
$201.7M
Q2 25
$168.7M
$194.9M
Q1 25
$157.9M
$192.7M
Q4 24
$164.7M
$191.5M
Q3 24
$170.3M
$193.8M
Q2 24
$157.7M
$193.1M
Q1 24
$152.8M
$190.9M
Net Profit
PRK
PRK
UPWK
UPWK
Q4 25
$42.6M
$15.6M
Q3 25
$47.2M
$29.3M
Q2 25
$48.1M
$32.7M
Q1 25
$42.2M
$37.7M
Q4 24
$38.6M
$147.2M
Q3 24
$38.2M
$27.8M
Q2 24
$39.4M
$22.2M
Q1 24
$35.2M
$18.4M
Gross Margin
PRK
PRK
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
PRK
PRK
UPWK
UPWK
Q4 25
14.3%
Q3 25
34.3%
14.8%
Q2 25
35.2%
16.7%
Q1 25
32.4%
20.1%
Q4 24
7.1%
Q3 24
27.4%
10.7%
Q2 24
30.6%
9.2%
Q1 24
27.8%
6.8%
Net Margin
PRK
PRK
UPWK
UPWK
Q4 25
25.3%
7.9%
Q3 25
27.8%
14.5%
Q2 25
28.5%
16.8%
Q1 25
26.7%
19.6%
Q4 24
23.5%
76.9%
Q3 24
22.4%
14.3%
Q2 24
25.0%
11.5%
Q1 24
23.0%
9.7%
EPS (diluted)
PRK
PRK
UPWK
UPWK
Q4 25
$2.62
$0.12
Q3 25
$2.92
$0.21
Q2 25
$2.97
$0.24
Q1 25
$2.60
$0.27
Q4 24
$2.38
$1.02
Q3 24
$2.35
$0.20
Q2 24
$2.42
$0.17
Q1 24
$2.17
$0.13

Balance Sheet & Financial Strength

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

Metric
PRK
PRK
UPWK
UPWK
Cash + ST InvestmentsLiquidity on hand
$233.5M
$672.8M
Total DebtLower is stronger
$359.8M
Stockholders' EquityBook value
$1.4B
$630.3M
Total Assets
$9.8B
$1.3B
Debt / EquityLower = less leverage
0.57×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
PRK
PRK
UPWK
UPWK
Q4 25
$233.5M
$672.8M
Q3 25
$218.9M
$643.1M
Q2 25
$193.1M
$634.6M
Q1 25
$237.6M
$622.1M
Q4 24
$160.6M
$622.1M
Q3 24
$201.7M
$601.2M
Q2 24
$261.5M
$497.7M
Q1 24
$306.1M
$490.6M
Total Debt
PRK
PRK
UPWK
UPWK
Q4 25
$359.8M
Q3 25
$359.3M
Q2 25
Q1 25
Q4 24
$357.9M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
PRK
PRK
UPWK
UPWK
Q4 25
$1.4B
$630.3M
Q3 25
$1.3B
$628.1M
Q2 25
$1.3B
$608.7M
Q1 25
$1.3B
$594.3M
Q4 24
$1.2B
$575.4M
Q3 24
$1.2B
$411.2M
Q2 24
$1.2B
$361.1M
Q1 24
$1.2B
$348.9M
Total Assets
PRK
PRK
UPWK
UPWK
Q4 25
$9.8B
$1.3B
Q3 25
$9.9B
$1.3B
Q2 25
$9.9B
$1.3B
Q1 25
$9.9B
$1.2B
Q4 24
$9.8B
$1.2B
Q3 24
$9.9B
$1.1B
Q2 24
$9.9B
$1.0B
Q1 24
$9.9B
$1.0B
Debt / Equity
PRK
PRK
UPWK
UPWK
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
PRK
PRK
UPWK
UPWK
Operating Cash FlowLast quarter
$198.3M
$63.7M
Free Cash FlowOCF − Capex
$191.9M
$63.2M
FCF MarginFCF / Revenue
114.1%
31.9%
Capex IntensityCapex / Revenue
3.8%
0.2%
Cash ConversionOCF / Net Profit
4.65×
4.07×
TTM Free Cash FlowTrailing 4 quarters
$328.2M
$242.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
PRK
PRK
UPWK
UPWK
Q4 25
$198.3M
$63.7M
Q3 25
$52.6M
$75.1M
Q2 25
$49.7M
$72.5M
Q1 25
$37.9M
$37.0M
Q4 24
$178.8M
$38.6M
Q3 24
$43.8M
$61.0M
Q2 24
$50.9M
$39.2M
Q1 24
$35.0M
$14.8M
Free Cash Flow
PRK
PRK
UPWK
UPWK
Q4 25
$191.9M
$63.2M
Q3 25
$51.1M
$74.6M
Q2 25
$48.4M
$70.1M
Q1 25
$36.8M
$34.5M
Q4 24
$169.7M
$37.0M
Q3 24
$41.7M
$59.8M
Q2 24
$49.0M
$38.6M
Q1 24
$31.9M
$14.6M
FCF Margin
PRK
PRK
UPWK
UPWK
Q4 25
114.1%
31.9%
Q3 25
30.1%
37.0%
Q2 25
28.7%
36.0%
Q1 25
23.3%
17.9%
Q4 24
103.0%
19.3%
Q3 24
24.5%
30.8%
Q2 24
31.1%
20.0%
Q1 24
20.8%
7.7%
Capex Intensity
PRK
PRK
UPWK
UPWK
Q4 25
3.8%
0.2%
Q3 25
0.9%
0.2%
Q2 25
0.8%
1.2%
Q1 25
0.7%
1.3%
Q4 24
5.6%
0.8%
Q3 24
1.2%
0.6%
Q2 24
1.2%
0.3%
Q1 24
2.1%
0.1%
Cash Conversion
PRK
PRK
UPWK
UPWK
Q4 25
4.65×
4.07×
Q3 25
1.11×
2.56×
Q2 25
1.03×
2.22×
Q1 25
0.90×
0.98×
Q4 24
4.63×
0.26×
Q3 24
1.14×
2.20×
Q2 24
1.29×
1.76×
Q1 24
0.99×
0.80×

Financial Flow Comparison

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

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