Freelancer Limited

FLN.AX

Internet Content & Information · Communication Services

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

Freelancer Limited runs an online marketplace where businesses and individuals can post jobs and hire freelancers to complete them. The platform connects employers with workers skilled in areas like software development, writing, design, and data entry. It also owns Escrow.com, a secure payment service used when buyers and sellers exchange money online for high-value transactions.

The company earns money by taking a percentage fee from payments made through its platform, plus fees from Escrow.com transactions. Freelancer operates globally, with users across more than 240 countries and territories, though it is headquartered in Australia and listed on the ASX. Its main competitive advantage is its large existing network of employers and freelancers, which is hard for new entrants to replicate quickly. The key risk is intense competition from larger rivals like Upwork and Fiverr, which have greater resources and brand recognition in the freelance marketplace space.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-12.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-211.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

85.6%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~7 years

A$18M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

A$18M cash & investments at current burn rate

Revenue declining

Freelancer Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

37.3%

Modest — 37.3% gross margin

Profit after running costs

Operating Margin

-4.9%

Losing money on operations — -4.9%

Return on the money invested

ROCE

-7.2%

Weak — -7.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-6.2%

Shrinking sales (-6.2% YoY)

Profit growth

EPS YoY

-191.5%

Earnings shrinking (-191.5% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

0.3%

Thin free cash flow (0.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.26

Conservative — low debt load (0.26)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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