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Lyft, Inc. (LYFT) stock

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NASDAQ: LYFT Nasdaq Passenger Ground Transportation Next results ~November 5, 2026

B Fundamentals grade

Lyft, Inc. is a US-listed company in the passenger ground transportation industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$45

Cash-flow model

Base case. Range ~$34–$58 across our lower- and higher-growth cases (8.8%–18.8% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 168% above it.

Price used: $16.62, November 2, 2026

Lyft, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 7 selling2 purchases and 23 sales by directors and officers, last 12 monthsInsider trades
  • Funds241 adding, 266 cuttingOf 68 active managers that changed their stake, 33 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Lyft files

Where Lyft stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $6.77bn, up 10.8% on a year earlier, faster than 9.4% a quarter earlier. Free-cash-flow margin held at 15.5%. The diluted share count is down 4.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 5 of our 7 financial-health checks. Our cash-flow model value is $41.20 a share, against a share price of $17.32. At that price, our model says the market is pricing in cash flow shrinking about 1.7% a year for five years, slower than the 16.1% a year revenue growth it has delivered.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Lyft, Inc.'s trailing-twelve-month revenue grew 10.8% year on year, with a free-cash-flow margin of 15.5%. Where it stands out: net margin of 42.3% ranks 11 of 582 industrials companies we cover. Where it lags: stock pay as % of revenue of 4.6% ranks 430 of 512 industrials companies we cover.

Our discounted-cash-flow model values the business at ~$45 per share in the base case (~$34–$58 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 15.8% while net income grew 3008.6%: a 2993pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $16.62 is 168% below our value per share of $45.
  • Shrinking share count. Diluted shares fell 4.5% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -1.8%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 1.3 against the S&P 500.
  • Weak cash conversion. Free cash flow was 37% of net income over the last 12 months.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 4.6% ranks 430 of 512 industrials companies we cover (median 0.9%).
  • Heavily shorted. 21.7% of the shares available to trade are sold short (8.5 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.13 against an average estimate of $0.14: missed by 7.7%
Revenue
$1.84bn, up 16.1% on a year earlier
Share reaction
+5.9% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
gross Bookings $5.5bn to $5.67bn (Third Quarter 2026); gross Bookings growth (year over year) growth 15% to 19% (Third Quarter 2026)
Next report
November 5, 2026; average EPS estimate $0.45

Lyft's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.8%
  • 1 week-2.6%
  • 1 month+7.5%
  • This year-14.2%
  • 1 year-18.8%
  • 5 years-66.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$6.8B
Operating margin
-1.8%
Net margin
42.3%
EPS (TTM, diluted)
$7.11

Growth

Revenue growth
+10.8%
Change in growth rate
+1.5 pts
Share count change
−4.5%

Cash

Free cash flow (TTM)
$1B
FCF margin
15.5%
Stock pay % of revenue
4.6%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Announcement
  4. Product
  5. Leadership
  6. Announcement
  7. Results
  8. Guidance
  9. Leadership
  10. Results
  11. Partnership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Lyft, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 5.2% a year for five years.That is slower than the 16.1% a year revenue growth Lyft has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in-5.2%
  • Last 12 months10.8%
  • 3 years a year16.8%
  • 5 years a year16.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($16.39, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$45
Price used
$16.39close November 3, 2026
Implied change
▲ +172%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Lyft, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($510M, FY2026 Q2 TTM), growing 14.9% and 13.2% in the next two years (forecasts, guidance and its record), then back to 13.8% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$34–~$58 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Lyft, Inc.'s free cash flow after stock-based pay ( $510M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Lyft, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.3%: the 10-year Treasury yield (4.9%) plus a beta of 1.19 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$45 ~$34–$58 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$45 ~$34–$58 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Lyft, Inc. with Passenger Ground Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▲ +4%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $21$28$37$49$64$84
8.5% $17$21$28$36$48$62
10% $14$18$23$29$38$48

Valuation multiples over time Market data may be delayed

At fiscal year end 2019202020212022202320242025Now
Share price$43.02$49.13$42.73$11.02$14.99$12.90$19.37$16.62
Market value$9.8bn$15.3bn$14.3bn$3.9bn$5.8bn$5.3bn$8.1bn$6.7bn
+ Net debt (− = net cash)−$358m$360m$254m$558m$307m$236m−$79m−$94m
Enterprise value$9.4bn$15.7bn$14.6bn$4.5bn$6.1bn$5.6bn$8.0bn$6.6bn
Multiples
Price / sales 2.7x6.5x4.5x1.0x1.3x0.9x1.3x1.0x
Price / earnings —————n/m2.8x2.3x
Price / free cash flow ————————
EV / EBITDA —————185.9x—n/m

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

23 /100

Weak moat

How hard Lyft's competitive advantage looks for rivals to wear away, judged from 8 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -24.8% of total assets over 8 years.

  • Pricing power 15 / 20

    Gross margin has been a median 42.0%, moving by 2.1 percentage points (standard deviation) across 8 years.

  • Durability 10 / 20

    Operating margin has been a median -29.0%; its worst year was -81.7%.

  • Cash conversion 4 / 20

    Free cash flow was positive in 3 of 8 years, at a median -8.1% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 24.7% over five years; stock-based pay has been a median 17.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (28 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $1.9bn and EPS of $0.45 (range $0.39 to $0.58) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.54 −92% $7.4bn +17%
Next $0.94 +73% $8.3bn +12%

Next year's EPS estimate has moved +1.3% in 90 days, across 38 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −2.4% on 90 days ago. In the last 30 days, 0 analysts raised Lyft, Inc.'s forecast and 6 cut it.

Consensus EPS forecast Lyft, Inc., last 90 days
$0.40 $0.60 $0.80 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.56 Current fiscal year, 60 days ago: $0.56 Current fiscal year, 30 days ago: $0.55 Current fiscal year, 7 days ago: $0.55 Current fiscal year, Now: $0.54 $0.54 Next fiscal year, 90 days ago: $0.93 Next fiscal year, 60 days ago: $0.97 Next fiscal year, 30 days ago: $0.98 Next fiscal year, 7 days ago: $0.95 Next fiscal year, Now: $0.94 $0.94

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.56$0.93
60 days ago $0.56$0.97
30 days ago $0.55$0.98
7 days ago $0.55$0.95
Now $0.54$0.94

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.14 $0.13 −7.7%
Mar 2026 $0.07 $0.04 −44.3%
Dec 2025 $0.12 $6.59 +5481.0%
Sept 2025 $0.07 $0.11 +53.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026
  • Gross Bookings Third Quarter 2026 $5.5bn to $5.67bn
    “Gross Bookings of approximately $5.50 billion to $5.67 billion, up approximately 15% to 19% year over year.” source
  • Gross Bookings growth (year over year) Third Quarter 2026 15% growth to 19% growth
    “Gross Bookings of approximately $5.50 billion to $5.67 billion, up approximately 15% to 19% year over year.” source
  • Adjusted EBITDA Third Quarter 2026 $183m to $203m Non-GAAP
    “Adjusted EBITDA of approximately $183 million to $203 million” source
  • Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) Third Quarter 2026 3.3% to 3.6% Non-GAAP
    “Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 3.3% to 3.6%.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Lyft, Inc.'s revenue by +14.9% next year and +13.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+15.4%, weight 70%) and the company's own record (+13.8%, weight 30%) . How the weights are set.

Analyst recommendations

45 analysts, Oct 2026
Buy1431%
Hold3067%
Sell12%

Monthly trend

  1. Oct 20264103045
  2. Sep 2026493145
  3. Aug 20264112945
  4. Jul 20264112844

Counts of recommendations published by analysts covering Lyft, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
21.7%
of tradable shares
Days to cover
8.53
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.4%
of shares
Employees
3,913
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −18.8%

$20.46 on October 31, 2025 to $16.62

ThenNowEffect
Revenue (last 12 months) $6.1bn $6.8bn +10.8%
Net margin 1.5% 42.3% +2705.3%
P/E multiple 93.7x 2.3x −97.5%
Share count 422m 403m +4.7%

Biggest factor: p/e multiple.

Last 3 years +55.9%

$10.66 on November 3, 2023 to $16.62

ThenNowEffect
Revenue (last 12 months) $4.3bn $6.8bn +59.3%
P/S multiple 0.9x 1.0x +6.8%
Share count 369m 403m −8.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
LYFT−13%−74%+36%−14%+50%−14%
Industry peers (median)+21%−30%−9%−3%+4%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LYFT50%33%50%42%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LYFT−44%−78%−55%−55%−34%−36%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since March 29, 2019: 90% from March 29, 2019 to May 24, 2023. Getting back needed a 880% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$12.65 – $24.57
From 52-week high
−32.4%
vs 50-day average
+2.7%
vs 200-day average
+10.1%
Volatility (1 year)
47%
Beta vs S&P 500
1.33

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±13.0%
After a week
7 up, 5 down
typical move ±13.9%
After a month
8 up, 4 down
typical move ±16.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +5.9% +0.5% +3.9% +1.5%
May 7, 2026 +0.8% +0.5% −8.3% −1.5%
February 10, 2026 −15.8% −0.3% −17.5% −22.0%
November 5, 2025 +9.4% −0.7% +26.5% +18.3%
August 6, 2025 −2.1% +0.7% +0.5% +14.8%
May 8, 2025 +32.2% +0.6% +28.9% +24.1%
February 11, 2025 −12.4% −0.2% −11.4% −25.5%
November 6, 2024 +28.2% +3.3% +28.8% +15.5%
August 7, 2024 −8.2% +1.6% −8.1% +0.8%
May 7, 2024 +1.5% +0.1% −2.7% −10.4%
February 13, 2024 +32.2% −0.5% +30.1% +43.6%
November 8, 2023 −6.9% −0.7% +0.3% +22.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Lyft, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.64× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Lyft, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Lyft, Inc.
$4B $5B $6B $7B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $4.4B Revenue (TTM), FY23 Q4: $4.4B Revenue (TTM), FY24 Q1: $4.7B Revenue (TTM), FY24 Q2: $5.1B Revenue (TTM), FY24 Q3: $5.5B Revenue (TTM), FY24 Q4: $5.8B Revenue (TTM), FY25 Q1: $6B Revenue (TTM), FY25 Q2: $6.1B Revenue (TTM), FY25 Q3: $6.3B Revenue (TTM), FY25 Q4: $6.3B Revenue (TTM), FY26 Q1: $6.5B Revenue (TTM), FY26 Q2: $6.8B $6.8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $4.4B
FY23 Q4 $4.4B
FY24 Q1 $4.7B
FY24 Q2 $5.1B
FY24 Q3 $5.5B
FY24 Q4 $5.8B
FY25 Q1 $6B
FY25 Q2 $6.1B
FY25 Q3 $6.3B
FY25 Q4 $6.3B
FY26 Q1 $6.5B
FY26 Q2 $6.8B
Revenue growth, TTM YoY Lyft, Inc.
0% 10% 20% 30% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 11.9% Revenue growth, TTM YoY, FY23 Q4: 7.5% Revenue growth, TTM YoY, FY24 Q1: 10.9% Revenue growth, TTM YoY, FY24 Q2: 19.9% Revenue growth, TTM YoY, FY24 Q3: 25.4% Revenue growth, TTM YoY, FY24 Q4: 31.4% Revenue growth, TTM YoY, FY25 Q1: 27.3% Revenue growth, TTM YoY, FY25 Q2: 19.9% Revenue growth, TTM YoY, FY25 Q3: 14.9% Revenue growth, TTM YoY, FY25 Q4: 9.2% Revenue growth, TTM YoY, FY26 Q1: 9.4% Revenue growth, TTM YoY, FY26 Q2: 10.8% 10.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 11.9%
FY23 Q4 7.5%
FY24 Q1 10.9%
FY24 Q2 19.9%
FY24 Q3 25.4%
FY24 Q4 31.4%
FY25 Q1 27.3%
FY25 Q2 19.9%
FY25 Q3 14.9%
FY25 Q4 9.2%
FY26 Q1 9.4%
FY26 Q2 10.8%
Operating margin (TTM) Lyft, Inc.
-30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -23.2% Operating margin (TTM), FY23 Q4: -10.8% Operating margin (TTM), FY24 Q1: -6.9% Operating margin (TTM), FY24 Q2: -3.7% Operating margin (TTM), FY24 Q3: -3.8% Operating margin (TTM), FY24 Q4: -2.1% Operating margin (TTM), FY25 Q1: -1.4% Operating margin (TTM), FY25 Q2: -0.9% Operating margin (TTM), FY25 Q3: 0.4% Operating margin (TTM), FY25 Q4: -3.0% Operating margin (TTM), FY26 Q1: -2.5% Operating margin (TTM), FY26 Q2: -1.8% -1.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -23.2%
FY23 Q4 -10.8%
FY24 Q1 -6.9%
FY24 Q2 -3.7%
FY24 Q3 -3.8%
FY24 Q4 -2.1%
FY25 Q1 -1.4%
FY25 Q2 -0.9%
FY25 Q3 0.4%
FY25 Q4 -3.0%
FY26 Q1 -2.5%
FY26 Q2 -1.8%
FCF margin (TTM) Lyft, Inc.
-10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -7.3% FCF margin (TTM), FY23 Q4: -4.9% FCF margin (TTM), FY24 Q1: 0.2% FCF margin (TTM), FY24 Q2: 6.8% FCF margin (TTM), FY24 Q3: 10.9% FCF margin (TTM), FY24 Q4: 12.1% FCF margin (TTM), FY25 Q1: 13.9% FCF margin (TTM), FY25 Q2: 14.8% FCF margin (TTM), FY25 Q3: 15.0% FCF margin (TTM), FY25 Q4: 16.4% FCF margin (TTM), FY26 Q1: 16.1% FCF margin (TTM), FY26 Q2: 15.5% 15.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -7.3%
FY23 Q4 -4.9%
FY24 Q1 0.2%
FY24 Q2 6.8%
FY24 Q3 10.9%
FY24 Q4 12.1%
FY25 Q1 13.9%
FY25 Q2 14.8%
FY25 Q3 15.0%
FY25 Q4 16.4%
FY26 Q1 16.1%
FY26 Q2 15.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,060 2,157 3,616 2,365 3,208 4,095 4,404 5,786 6,316 6,772
Gross profit 400 913 1,439 917 1,506 1,659 1,860 2,448 2,619 3,082
EBITDA −706 −959 −2,594 −1,651 −996 −1,304 −359 30 −53 27
Operating income −708 −978 −2,702 −1,808 −1,135 −1,459 −476 −119 −188 −120
Net income −688 −911 −2,602 −1,753 −1,062 −1,585 −340 23 2,844 2,866
Diluted EPS −$35.53 −$43.04 −$11.44 −$5.61 −$3.17 −$4.47 −$0.88 $0.06 $6.81 $7.11
Growth (year on year)
Revenue — +103.5% +67.7% −34.6% +35.7% +27.6% +7.5% +31.4% +9.2% +10.8%
Margins
Gross margin 37.8% 42.3% 39.8% 38.8% 46.9% 40.5% 42.2% 42.3% 41.5% 45.5%
EBITDA margin −66.6% −44.5% −71.7% −69.8% −31.0% −31.8% −8.2% 0.5% −0.8% 0.4%
Operating margin −66.8% −45.3% −74.7% −76.5% −35.4% −35.6% −10.8% −2.1% −3.0% −1.8%
Net margin −64.9% −42.3% −72.0% −74.1% −33.1% −38.7% −7.7% 0.4% 45.0% 42.3%
Cash flow
Cash from operations −394 −281 −106 −1,379 −102 −237 −98 850 1,168 1,195
Stock-based pay 10 9 1,599 566 725 751 485 331 322 310
Balance sheet
Cash 1,106 518 358 320 457 281 559 759 1,132 1,138
Total debt 0 0 0 680 711 839 865 995 1,053 1,044
Net debt (negative = net cash) −1,106 −518 −358 360 254 558 307 236 −79 −94
Diluted shares 19m 21m 227m 312m 335m 355m 385m 414m 418m 403m
Returned to shareholders
Buybacks — — — — — 0 0 50 500 700
Total returned — — — — — 0 0 50 500 700

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · June 30, 2026
What it owns · $9.1bn
Short-term assets $2.9bnLonger-term assets $6.2bn
What it owes, and who funded it · $9.1bn
Short-term liabilities $4.9bnLonger-term liabilities $1.2bnShareholders' equity $3.0bn
  • Short-term assets cover short-term liabilities $2.9bn of assets due within a year against $4.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.9bn short-term assets against $1.2bn of longer-dated liabilities.
  • More cash than debt $1.1bn of cash against $1.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 35% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 49% to 35% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.2bn of operating cash flow against $1.0bn of debt.
  • Operating profit covers interest at least five times over Operating income of −$120m against $20m of interest.

From Lyft, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$700M
Returned to shareholders
67%
of free cash flow
Buybacks, last 3 fiscal years
$550M
Diluted share count
−4.5%
year over year
Total shareholder yield
10.9%
dividends 0.0% + buybacks 10.9% of market value
R&D spending
7.0%
of revenue

Competitors: side by side with peers

Closest by revenue in passenger ground transportation
Last 12 months unless stated LYFT HTZ CAR UBER Median
Revenue, last 12 months $6.8bn $8.9bn $11.7bn $55.2bn $10.3bn
Revenue growth, last 12 months 10.8% 3.4% 0.4% 16.7% 7.1%
Revenue growth, 3-year average 16.8% −0.4% −0.8% 16.4% 8.0%
Revenue growth, latest quarter 16.1% 9.7% −1.3% 12.2% 10.9%
Operating margin −1.8% — — 12.1% 5.2%
Operating margin, 3-year average −2.1% — — 8.9% 3.4%
Net margin 42.3% −3.1% −5.4% 17.3% 7.1%
Cash from operations / revenue 17.6% 16.0% 24.8% 18.9% 18.3%
Free-cash-flow margin 15.5% 14.8% — 18.3% 15.5%
Free-cash-flow margin, 3-year average 12.4% 19.9% — 16.1% 16.1%
Stock pay / revenue 4.6% 0.8% 0.1% 3.5% 2.1%
Change in share count −4.5% 14.2% −0.1% −3.1% −1.6%

Median of all 4 companies we cover in passenger ground transportation. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

584 industrials companies
Measure Company Peer median Rank
Revenue growth Growth 10.8% 7.6% 223 of 581
Change in growth rate Growth +1.5pp +1.1pp 272 of 580
Gross margin Profitability 45.5% 28.6% 67 of 443
Operating margin Profitability -1.8% 5.5% 376 of 544
Net margin Profitability 42.3% 3.8% 11 of 582
Free-cash-flow margin Cash generation 15.5% 4.6% 91 of 579
Stock pay as % of revenue Cash generation 4.6% 0.9% 430 of 512
Long-term debt as % of assets Balance sheet 10.9% 22.6% 119 of 453
Change in share count Balance sheet -4.5% 0.0% 50 of 529

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $6.1B 95.9% ▲ 7.3%
Outside the US $256M 4.1% ▲ 82.8%

From Lyft, Inc.'s 10-K filed February 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$6.1B
Institutions reporting
522
Shares held vs prior quarter
▲ 4.4%
Positions opened / closed
78 / 86

Top buyers and sellers, Q2 2026: 241 institutions bought and 266 sold ; the biggest buyer was Ameriprise Financial Inc (+24.8M shares) and the biggest seller FMR LLC (−7.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Ameriprise Financial Inc $896M 61.3M 14.7% ▲ 68.1%
Blackrock, Inc. $691M 47.3M 11.3% ▼ 3.4%
Millennium Management LLC $315M 21.5M 5.1% ▼ 1.0%
Vanguard Portfolio Management LLC $273M 18.7M 4.5% ▼ 11.8%
Vanguard Capital Management LLC $241M 16.5M 3.9% ▼ 4.3%
State Street Corp $197M 13.5M 3.2% ▲ 2.1%
Goldman Sachs Group Inc $174M 11.9M 2.8% ▲ 130.5%
Contour Asset Management LLC $163M 11.2M 2.7% ▼ 6.5%
FMR LLC $158M 10.8M 2.6% ▼ 41.6%
Dimensional Fund Advisors LP $135M 9.2M 2.2% ▲ 37.4%
Renaissance Technologies LLC $120M 8.2M 2.0% ▼ 10.6%
LSV Asset Management $113M 7.7M 1.8% ▲ 214.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Lyft, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $199,810 2 trades by 1 insider, last 12 months Insider sales History → $7.4M 23 trades by 7 insiders · 100% under pre-set plans
Net ▼ $7.2M net selling
Insider Date Trade Shares Price Value
Brewer Erin CHIEF FINANCIAL OFFICER September 24, 2026 Sell pre-set plan 15,000 $14.64 $219,600
Llewellyn Lindsay Catherine SEE REMARKS September 1, 2026 Sell pre-set plan 13,204 $16.64 $219,715
Beggs Jill Director August 27, 2026 Sell pre-set plan 2,307 $17.34 $40,003
Hope Stephen W. CHIEF ACCOUNTING OFFICER August 27, 2026 Sell pre-set plan 5,982 $17.34 $103,728
Lawee David Director August 27, 2026 Sell pre-set plan 4,613 $17.33 $79,943
Whiteside Janey Director August 25, 2026 Sell pre-set plan 5,480 $17.68 $96,886
Brewer Erin CHIEF FINANCIAL OFFICER August 24, 2026 Sell pre-set plan 15,000 $17.63 $264,450
Whiteside Janey Director August 7, 2026 Sell pre-set plan 14,220 $17.00 $241,740
Llewellyn Lindsay Catherine SEE REMARKS August 3, 2026 Sell pre-set plan 36,214 $16.14 $584,494
Brewer Erin CHIEF FINANCIAL OFFICER June 12, 2026 Sell pre-set plan 15,000 $13.59 $203,850
Llewellyn Lindsay Catherine SEE REMARKS June 1, 2026 Sell pre-set plan 11,491 $15.00 $172,365
Beggs Jill Director May 27, 2026 Sell pre-set plan 2,093 $13.76 $28,800

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 7 trades and filings

No trades in Lyft, Inc. disclosed in the last 12 months; 7 earlier trades on record.

  • Peter Meijer(R-MI 3):Sale (full), $876.76, traded February 16, 2021, filed December 30, 2022
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded October 26, 2020, filed November 5, 2020
  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded October 16, 2020, filed November 5, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 10, 2026
  • November 5, 2025
  • August 6, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Lyft, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Lyft, Inc. in brief

What does Lyft, Inc. do?
Lyft, Inc. is a US-listed company in the passenger ground transportation industry. Its financial year ends in December.
What is Lyft, Inc.'s stock ticker?
Lyft, Inc. trades under the ticker LYFT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Lyft, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Lyft, Inc. reported revenue of $6.8B, 10.8% higher than a year earlier, according to its SEC filings.
What is Lyft, Inc.'s free cash flow?
Lyft, Inc.'s free-cash-flow margin is 15.5% of revenue over the trailing twelve months, ranking 91 of the 579 industrials companies we cover.
What is Lyft, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Lyft, Inc.'s free cash flow after stock-based pay gives ~$45 per share in the base case, and ~$34–$58 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Lyft, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Ameriprise Financial Inc, Blackrock, Inc. and Millennium Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Lyft, Inc. buying back stock, and does it pay a dividend?
Lyft, Inc. spent $700M on share repurchases over the trailing twelve months, and its diluted share count fell 4.5% over the year.
What is Lyft, Inc.'s market cap?
On November 2, 2026, Lyft, Inc.'s market capitalisation was about $6.7B, with a price-to-earnings ratio of 2.3 and net debt of -$94.1M. Market figures come from third-party market data and may be delayed.
How much debt does Lyft, Inc. have?
Lyft, Inc.'s debt-to-equity ratio is 34.5%, from its latest balance sheet (48.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Lyft, Inc.'s competitors?
In our Passenger Ground Transportation peer group, the companies closest to Lyft, Inc. are Hertz Global Holdings, Inc, Avis Budget Group, Inc. and Uber. The side-by-side comparison below sets their revenue, margins and growth against Lyft, Inc.'s.
Are insiders buying or selling Lyft, Inc. stock?
Over the last 12 months, Lyft, Inc.'s directors and officers reported 2 open-market purchases and 23 sales on Form 4. The insider trading page charts every trade.
When is Lyft, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Lyft, Inc. announces its own schedule.