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Lyft, Inc. key statistics and ratios

In fiscal 2025, Lyft, Inc. had return on equity of 140.8% and a net margin of 45.0%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin−64.9%−42.3%−72.0%−74.1%−33.1%−38.7%−7.7%0.4%45.0%42.3%
Return on equity———−77.4%−70.4%−183.2%−73.2%3.5%140.8%91.0%
Return on assets—−24.2%−55.1%−33.8%−22.5%−34.0%−7.5%0.5%39.3%31.6%
Effective tax rate———————10.1%——
R&D as % of revenue12.9%13.9%41.6%38.4%28.4%20.9%12.6%6.9%7.1%7.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

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Figures from Lyft, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lyft, Inc.