Uber Technologies, Inc. UBER

IndustrialsSoftware & IT ServicesUnited States of America

Last close 66.71 USD on Nov 2, 2026, −18.4% year to date

Quant rating

Quant rating A Rank 55 of 486 in Industrials

Growth C 206 of 486
Valuation A 17 of 486
Quality A 37 of 486
Revisions B 135 of 486
Momentum C 337 of 486

Wall Street consensus Buy (1.90)Average target 102.21 USD +53.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 136.3B
Enterprise value: 144.7B
52-week range: 64.05 – 100.34
3-year range: 46.48 – 100.34
Dividend yield: –
Beta (5 years): 1.31
Shares outstanding: 2,043M
Next earnings: Nov 4, 2026

About the company

Uber Technologies, Inc. operates a technology platform that uses network and technology to power movement from point A to point B. It develops and operates technology applications supporting a variety of offerings on its platform (platform(s)). Its segments include Mobility, Delivery and Freight. Mobility products connect consumers with drivers who provide rides in a variety of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis. Delivery offerings allow consumers to search for and discover local restaurants, order a meal, and either pick-up at the restaurant or have the meal delivered. In certain markets, the Delivery segment provides offerings for grocery, alcohol, and convenience store delivery as well as select other goods. The Freight segment connects carriers with shippers on its platform, and gives carriers upfront, pricing and the ability to book a shipment. The Freight segment also includes transportation management and other logistics service offerings.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	52,017	43,978	37,281	31,877	17,455	–
Revenue growth	18.3%	18.0%	17.0%	82.6%	56.7%	36.1%
EPS (basic, normalized)	4.73	1.60	0.87	−4.65	−1.00	–
EPS growth	195.6%	83.9%	–	–	–	–
Gross margin	34.3%	33.2%	32.6%	30.8%	35.7%	33.3%
Net margin	19.3%	22.4%	5.1%	−28.7%	−2.8%	3.1%
ROE	41.4%	60.1%	20.3%	−83.9%	−3.7%	6.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	5,391
Current ratio	0.84x
Long-term debt (mil)	10,726
Net debt (mil)	8,415
Total equity (mil)	27,316
Net debt / equity	0.31x
Net debt / EBITDA	0.96x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	52,017	+18.3%	2.8x	8,730	+36.6%	16.6x	4.73	+195.6%	14.1x
2026	57,776	+11.1%	2.5x	11,177	+28.0%	12.9x	3.30	−30.2%	20.2x
2027	66,807	+15.6%	2.2x	13,708	+22.7%	10.6x	4.54	+37.5%	14.7x
2028	76,394	+14.4%	1.9x	16,143	+17.8%	9.0x	5.65	+24.5%	11.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	57,776	0.0%	−0.6%	−0.8%	3.30	0.0%	+14.1%	+2.3%
2027	66,807	0.0%	−0.2%	+0.1%	4.54	+0.1%	+3.7%	+3.4%
2028	76,394	+0.1%	+0.5%	+1.3%	5.65	+0.5%	+5.7%	+2.8%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	10,131	10,700	11,188	11,959	11,533	12,651	13,467	14,366	13,203	14,191
Sales mean (mil)	10,112	10,569	10,978	11,766	11,616	12,464	13,275	14,322	13,286	14,236
Surprise	+0.2%	+1.2%	+1.9%	+1.6%	−0.7%	+1.5%	+1.4%	+0.3%	−0.6%	−0.3%
EPS reported	−0.31	0.47	1.20	0.23	0.83	0.63	3.11	0.14	0.13	1.17
EPS mean	0.23	0.31	0.41	0.50	0.50	0.63	0.68	0.80	0.68	0.80
Surprise	−235.4%	+51.4%	+191.2%	−53.9%	+64.6%	+0.5%	+354.1%	−82.5%	−80.9%	+45.9%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
UBER Uber Technologies, Inc.	136.3B	0.96x	19.3%	4.98x	20.2x	14.7x	12.9x	10.6x
GOOGL Alphabet Inc.	3.42T	−0.67x	32.8%	5.06x	14.2x	18.7x	14.3x	10.8x
META Meta Platforms, Inc.	1.58T	0.01x	37.1%	5.69x	21.0x	18.0x	11.3x	8.8x
NFLX Netflix, Inc.	256.0B	0.49x	24.3%	8.74x	17.4x	16.5x	15.4x	13.3x
SHOP Shopify Inc.	201.0B	−2.48x	10.7%	15.88x	82.4x	63.8x	70.2x	53.0x
SPOT Spotify Technology S.A.	122.1B	−3.72x	12.9%	13.05x	44.8x	34.8x	32.5x	24.9x
Mean		−0.90x	22.8%	8.90x	33.3x	27.7x	26.1x	20.2x
Median		−0.33x	21.8%	7.22x	20.6x	18.4x	14.9x	12.1x

Technical analysis

1M−2.1%
3M−5.2%
1Y−30.9%
3Y+43.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Uber Technologies, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	52,017	43,978	37,281	31,877	17,455	11,139
Cost of revenue	34,192	29,383	25,146	22,072	11,228	6,801
Gross profit	17,825	14,595	12,135	9,805	6,227	4,338
Selling, general & administrative expenses	8,139	7,976	7,038	7,892	7,105	5,951
Research & development	3,402	3,109	3,164	2,798	2,054	2,120
Depreciation/amortization	719	711	823	947	902	575
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0	236	−204	168	−1,684	2,041
Other operating expenses	0	0	0	0	0	0
Operating income	5,565	2,563	1,314	−2,000	−2,150	−6,349
Net interest income (expense)	295	1,639	1,205	−7,618	1,042	−656
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−60.0	−77.0	−198	192	83.0	59.0
Net income before taxes	5,800	4,125	2,321	−9,426	−1,025	−6,946
Provision for taxes	−4,346	−5,758	213	−181	−492	−192
Minority interest	−40.0	11.0	−269	−3.0	74.0	20.0
Equity in affiliates	−53.0	−38.0	48.0	107	−37.0	−34.0
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	10,053	9,856	1,887	−9,141	−496	−6,768
Extraordinary items	–	–	–	–	–	–
Net income	10,053	9,856	1,887	−9,141	−496	−6,768
EBIT, normalized	6,185	3,977	1,294	−1,033	−3,038	−4,032
EBITDA, normalized	6,932	4,714	2,117	−86.0	−2,136	−3,457
Basic EPS, normalized	4.73	1.60	0.87	−4.65	−1.00	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Uber Technologies, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	7,633	6,977	5,407	4,311	4,295	6,827
Receivables	3,827	3,815	4,121	3,489	2,992	1,537
Total inventory	–	–	–	–	–	–
Prepaid expenses	408	415	400	310	459	407
Other current assets	2,125	1,038	1,369	1,139	1,073	1,111
Total current assets	13,993	12,245	11,297	9,249	8,819	9,882
Property, plant & equipment	3,011	3,110	3,314	3,531	3,241	3,088
Goodwill	8,931	8,066	8,151	8,263	8,420	6,109
Intangibles	1,048	1,125	1,425	1,874	2,412	1,564
Long-term investments	18,339	15,781	11,233	6,885	12,606	10,131
Note receivable	–	–	–	–	–	–
Other long-term assets	16,480	10,917	3,279	2,307	3,276	2,478
Total assets	61,802	51,244	38,699	32,109	38,774	33,252
Liabilities
Accounts payable	1,013	858	790	728	860	235
Payable/accrued	–	–	–	–	–	–
Accrued expenses	2,572	2,245	2,896	2,381	1,372	3,854
Short-term debt	0	0	0	0	0	348
Current portion of long-term debt	138	1,286	156	115	191	177
Other current liabilities	8,597	7,087	5,612	5,629	6,601	2,251
Total current liabilities	12,320	11,476	9,454	8,853	9,024	6,865
Long-term debt	10,605	8,521	9,781	9,549	9,319	7,680
Minority interest	1,042	918	1,433	1,164	891	1,488
Other liabilities	10,794	8,771	6,782	5,203	5,082	4,953
Total liabilities	34,761	29,686	27,450	24,769	24,316	20,986
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	38,101	42,801	42,264	40,550	38,608	35,931
Retained earnings (accumulated deficit)	−10,628	−20,726	−30,594	−32,767	−23,626	−23,130
Treasury stock	–	–	–	–	–	–
Other equity	−432	−517	−421	−443	−524	−535
Total equity	27,041	21,558	11,249	7,340	14,458	12,266
Total liabilities & shareholders' equity	61,802	51,244	38,699	32,109	38,774	33,252

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Uber Technologies, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	10,093	9,845	2,156	−9,138	−570	−6,788
Depreciation, depletion & amortization	747	737	823	947	902	575
Deferred taxes	−4,779	−6,027	26.0	−441	−692	−266
Non-cash items	1,811	208	415	8,939	−1,767	3,002
Changes in working capital	2,227	2,374	165	335	2,031	383
Cash from operations	10,099	7,137	3,585	642	−96.0	−3,094
Investing activities
Capital expenditures	−336	−242	−223	−252	−298	−616
Other investing cash flows	−3,228	−2,935	−3,003	−1,385	−903	−2,253
Cash from investing	−3,564	−3,177	−3,226	−1,637	−1,201	−2,869
Financing activities
Financing cash flow items	−225	−805	−178	−68.0	74.0	21.0
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−5,488	−1,282	83.0	83.0	1,706	1,358
Cash from financing	−5,713	−2,087	−95.0	15.0	1,780	1,379
Foreign exchange effects	215	−267	63.0	−148	−69.0	−92.0
Net change in cash	1,037	1,606	327	−1,128	414	−4,676
Free cash flow	9,763	6,895	3,362	390	−394	−3,710

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.