First Advantage vs Upwork
First Advantage reported revenue of $1.6 billion in fiscal 2025, 2.0 times Upwork's $788 million in fiscal 2025. First Advantage's revenue grew 83.0% in its latest year, and Upwork's grew 2.4%. First Advantage had an operating margin of 8.4%, against 16.4% at Upwork. Free cash flow was $188 million at First Advantage and $242 million at Upwork.
Side by side
| First Advantage | Upwork | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $1.6B | $788M |
| Revenue growth | 83.0% | 2.4% |
| Revenue growth a year, last 5 years | 27.2% | 16.1% |
| Gross margin | — | 77.8% |
| Operating margin | 8.4% | 16.4% |
| Net margin | −2.2% | 14.7% |
| Free cash flow | $188M | $242M |
| Free cash flow margin | 12.0% | 30.8% |
| Return on capital | 3.2% | 31.0% |
| Net debt to EBITDA | 7.7x | −2.0x |
| Dividends and buybacks | $0M | $136M |
| Change in diluted share count | 16.6% | −1.7% |
| Last close | $23.53 | $10.02 |
| P/E at the last close | 94.1× | 12.4× |
| Insider trades, last 12 months | bought $106,740, sold $276.1 million | sold $15.8 million |
| Piotroski F-score | 5 of 8 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
First AdvantageUpwork
Operating margin
Percent of revenue
First AdvantageUpwork
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
First AdvantageUpwork
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the First Advantage and Upwork pages.