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Uber (UBER) stock

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NYSE: UBER NYSE Passenger Ground Transportation Next results ~November 4, 2026

B Fundamentals grade

Uber 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

~$130

Cash-flow model

Base case. Range ~$95–$170 across our lower- and higher-growth cases (11.5%–21.5% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 90% above it.

Price used: $66.71, November 2, 2026

Uber 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.

Value diary

Our note on each quarter Uber files

Where Uber stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $55.2bn, up 16.7% on a year earlier, slower than 18.3% a quarter earlier. Free-cash-flow margin held at 18.3%. Operating margin widened to 12.1% from 9.5%. The diluted share count is down 3.1% 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 4 of our 7 financial-health checks. Our cash-flow model value is $124 a share, against a share price of $68.70. At that price, our model says the market is pricing in about 6.4% a year of cash-flow growth for five years, slower than the 25.9% a year revenue growth it has delivered.

Source: 10-Q filed August 5, 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 4, 2026 (estimated)

Uber's trailing-twelve-month revenue grew 16.7% year on year, with a free-cash-flow margin of 18.3%. Where it stands out: net margin of 17.3% ranks 56 of 582 industrials companies we cover. Where it lags: stock pay as % of revenue of 3.5% ranks 416 of 512 industrials companies we cover.

Our discounted-cash-flow model values the business at ~$130 per share in the base case (~$95–$170 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 18.5% while net income fell 24.1%: a 43pp 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 $66.71 is 90% below our value per share of $130.
  • Fast growth. Revenue grew 16.7% over the last 12 months, against a median of 7.6% for industrials companies we cover.
  • Shrinking share count. Diluted shares fell 3.1% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 3.5% ranks 416 of 512 industrials companies we cover (median 0.9%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$1.17 against an average estimate of $0.83: beat by 40.2%
Revenue
$14.19bn, up 12.2% on a year earlier
Share reaction
-2.1% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
gross Bookings $58.25bn to $60.25bn (Q3 2026); non-GAAP EPS $0.84 to $0.88 (Q3 2026)
Next report
November 4, 2026; average EPS estimate $0.87

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

Price chart

  • 1 day+2.2%
  • 1 week+0.9%
  • 1 month-2.1%
  • This year-18.4%
  • 1 year-30.9%
  • 5 years+45.9%
  • S&P 500 this year+11.2%

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

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$55.2B
Operating margin
12.1%
Net margin
17.3%
EPS (TTM, diluted)
$4.59

Growth

Revenue growth
+16.7%
Change in growth rate
−1.6 pts
Share count change
−3.1%

Cash

Free cash flow (TTM)
$10.1B
FCF margin
18.3%
Stock pay % of revenue
3.5%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated November 1, 2026

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

  1. Announcement

    Key Food Co-Op adds 300 stores to Uber Eats

    Uber said it has partnered with Key Food Stores Co-Operative to bring grocery delivery from over 300 locations to its platform. The stores operate across the Northeast and Florida, offering on-demand and scheduled delivery of fresh produce and household items. Key Food reported $5.7 billion in annual sales across its network of more than 480 supermarkets.

    Company releaseRead source ↗
  2. Announcement
  3. Deal
  4. Product
  5. Announcement
  6. Insider trade
  7. Insider trade
  8. Announcement
  9. Insider trade
  10. Product
  11. Insider trade
  12. Product
  13. Announcement
  14. Agreement
  15. Results
  16. Guidance
  17. Agreement

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

Uber valuation models and calculator

What the price is pricing in

The share price implies about 5.0% a year of cash-flow growth for five years.That is slower than the 25.9% a year revenue growth Uber has delivered.

  • Priced in5.0%
  • Last 12 months16.7%
  • 3 years a year16.4%
  • 5 years a year25.9%

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 ($66.25, 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
~$130
Price used
$66.25close November 3, 2026
Implied change
▲ +92%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Uber's free cash flow after stock-based pay with after-tax interest added back ($7.4B, FY2026 Q2 TTM), growing 14% and 16.1% in the next two years (forecasts, guidance and its record), then back to 16.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$95–~$170 ; 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 Uber's free cash flow after stock-based pay ( $7.4B, 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 Uber as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.92 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. ~$130 ~$95–$170 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. ~$7.9 ~$5.0–$13 Left out: out of range vs price (0.12x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$5.8 ~$5.0–$7.0 Left out: out of range vs price (0.09x)
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. ~$130 ~$95–$170 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Uber 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 ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +2%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $47$66$91$123$166$220
8.5% $35$49$66$90$120$159
10% $28$38$52$70$93$122

Valuation multiples over time Market data may be delayed

At fiscal year end 2019202020212022202320242025Now
Share price$29.74$51.00$41.93$24.73$61.57$60.32$81.71$66.71
Market value$37.1bn$89.4bn$79.5bn$48.8bn$128.8bn$129.7bn$173.2bn$139.3bn
+ Net debt (− = net cash)−$5.1bn$2.3bn$5.1bn$5.2bn$4.9bn$3.7bn$3.5bn$9.8bn
Enterprise value$32.0bn$91.7bn$84.6bn$54.0bn$133.7bn$133.4bn$176.7bn$149.1bn
Multiples
Price / sales 2.9x8.0x4.6x1.5x3.5x2.9x3.3x2.5x
Price / earnings ————68.3x13.2x17.2x14.5x
Price / free cash flow ———125.2x38.3x18.8x17.7x13.8x
EV / EBITDA ————69.2x38.0x28.1x20.0x

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

27 /100

Weak moat

How hard Uber'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 -2.0% of total assets over 8 years.

  • Durability 10 / 20

    Operating margin has been a median -5.4%; its worst year was -73.5%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 5 of 8 years, at a median 3.8% of revenue.

  • Discipline 8 / 20

    The diluted share count rose 13.4% over five years; stock-based pay has been a median 5.6% 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 (32 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 4, 2026, before the open. Analysts expect revenue of $14.7bn and EPS of $0.87 (range $0.84 to $0.90) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.18 −33% $57.9bn +11%
Next $4.53 +43% $66.8bn +15%

Next year's EPS estimate has moved +0.3% in 90 days, across 38 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +5.3% on 90 days ago. In the last 30 days, 4 analysts raised Uber's forecast and 1 cut it.

Consensus EPS forecast Uber, last 90 days
$3.00 $3.50 $4.00 $4.50 $5.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.02 Current fiscal year, 60 days ago: $3.25 Current fiscal year, 30 days ago: $3.19 Current fiscal year, 7 days ago: $3.18 Current fiscal year, Now: $3.18 $3.18 Next fiscal year, 90 days ago: $4.52 Next fiscal year, 60 days ago: $4.64 Next fiscal year, 30 days ago: $4.56 Next fiscal year, 7 days ago: $4.53 Next fiscal year, Now: $4.53 $4.53

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.02$4.52
60 days ago $3.25$4.64
30 days ago $3.19$4.56
7 days ago $3.18$4.53
Now $3.18$4.53

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.83 $1.17 +40.2%
Mar 2026 $0.71 $0.13 −81.7%
Dec 2025 $0.78 $0.14 −81.9%
Sept 2025 $0.69 $3.11 +353.2%

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

Management guidance

Earnings release, August 5, 2026
  • Non-GAAP EPS Q3 2026 $0.84 to $0.88 Non-GAAP
    “Non-GAAP EPS of $0.84 to $0.88, representing growth of 28% to 35% YoY.” source
  • Gross Bookings Q3 2026 $58.25bn to $60.25bn
    “Gross Bookings of $58.25 billion to $60.25 billion, representing growth of 18% to 22% YoY on a constant-currency basis.” source
  • Adjusted EBITDA Q3 2026 $2.86bn to $2.96bn Non-GAAP
    “Our outlook translates to Adjusted EBITDA of $2.86 billion to $2.96 billion.” 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 Uber's revenue by +14.0% next year and +16.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+12.9%, weight 70%) and the company's own record (+16.5%, weight 30%) . How the weights are set.

Analyst recommendations

50 analysts, Oct 2026
Buy4182%
Hold816%
Sell12%

Monthly trend

  1. Oct 2026932850
  2. Sep 2026933851
  3. Aug 2026835751
  4. Jul 2026935651

Counts of recommendations published by analysts covering Uber, 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
2.5%
of tradable shares
Days to cover
3.02
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
85%
of shares
Held by insiders
0.2%
of shares
Employees
36,600
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

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −30.9%

$96.50 on October 31, 2025 to $66.71

ThenNowEffect
Revenue (last 12 months) $47.3bn $55.2bn +16.7%
Net margin 26.7% 17.3% −35.0%
P/E multiple 16.5x 14.5x −11.7%
Share count 2155m 2088m +3.2%

Biggest factor: net margin.

Last 3 years +39.7%

$47.75 on November 3, 2023 to $66.71

ThenNowEffect
Revenue (last 12 months) $35.0bn $55.2bn +57.8%
P/S multiple 2.7x 2.5x −8.3%
Share count 2015m 2088m −3.5%

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
UBER−18%−41%+149%−2%+36%−18%
Industry peers (median)+24%−30%−9%−9%+7%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
UBER42%33%58%42%58%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
UBER−43%−54%−20%−31%−21%−26%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since May 10, 2019: 68% from June 28, 2019 to March 18, 2020. Getting back needed a 213% gain, reached on November 9, 2020, 236 days after the low.

Price behaviour

52-week range
$65.25 – $99.72
From 52-week high
−33.1%
vs 50-day average
−6.0%
vs 200-day average
−8.9%
Volatility (1 year)
35%
Beta vs S&P 500
0.80

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
6 up, 6 down
typical move ±4.5%
After a week
8 up, 4 down
typical move ±8.5%
After a month
6 up, 6 down
typical move ±8.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −2.1% −0.4% +4.7% +5.5%
May 6, 2026 +5.2% +1.1% +2.4% −3.1%
February 4, 2026 −3.5% −1.7% −8.9% −3.6%
November 4, 2025 −7.0% −0.8% −6.1% −8.8%
August 6, 2025 +3.7% +0.7% +1.6% +1.8%
May 7, 2025 −4.1% +1.1% +5.3% −0.3%
February 5, 2025 +0.3% +0.8% +13.8% +9.3%
October 31, 2024 −7.8% −1.5% −7.9% −8.0%
August 6, 2024 +12.1% +0.2% +21.5% +21.8%
May 8, 2024 −3.5% +0.6% −5.4% −1.6%
February 7, 2024 +1.6% +0.9% +12.3% +11.7%
November 7, 2023 +2.8% +0.4% +11.9% +26.7%

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 Uber’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 1.58× the last 60 days’ realised volatility .
  • Puts and calls are priced at about the same implied 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.

Uber 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) Uber
$35B $40B $45B $50B $55B $60B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $36B Revenue (TTM), FY23 Q4: $37.3B Revenue (TTM), FY24 Q1: $38.6B Revenue (TTM), FY24 Q2: $40.1B Revenue (TTM), FY24 Q3: $42B Revenue (TTM), FY24 Q4: $44B Revenue (TTM), FY25 Q1: $45.4B Revenue (TTM), FY25 Q2: $47.3B Revenue (TTM), FY25 Q3: $49.6B Revenue (TTM), FY25 Q4: $52B Revenue (TTM), FY26 Q1: $53.7B Revenue (TTM), FY26 Q2: $55.2B $55.2B

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

View chart data
Period Revenue (TTM)
FY23 Q3 $36B
FY23 Q4 $37.3B
FY24 Q1 $38.6B
FY24 Q2 $40.1B
FY24 Q3 $42B
FY24 Q4 $44B
FY25 Q1 $45.4B
FY25 Q2 $47.3B
FY25 Q3 $49.6B
FY25 Q4 $52B
FY26 Q1 $53.7B
FY26 Q2 $55.2B
Revenue growth, TTM YoY Uber
10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 23.8% Revenue growth, TTM YoY, FY23 Q4: 17.0% Revenue growth, TTM YoY, FY24 Q1: 14.0% Revenue growth, TTM YoY, FY24 Q2: 14.4% Revenue growth, TTM YoY, FY24 Q3: 16.7% Revenue growth, TTM YoY, FY24 Q4: 18.0% Revenue growth, TTM YoY, FY25 Q1: 17.6% Revenue growth, TTM YoY, FY25 Q2: 18.2% Revenue growth, TTM YoY, FY25 Q3: 18.2% Revenue growth, TTM YoY, FY25 Q4: 18.3% Revenue growth, TTM YoY, FY26 Q1: 18.3% Revenue growth, TTM YoY, FY26 Q2: 16.7% 16.7%

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

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 23.8%
FY23 Q4 17.0%
FY24 Q1 14.0%
FY24 Q2 14.4%
FY24 Q3 16.7%
FY24 Q4 18.0%
FY25 Q1 17.6%
FY25 Q2 18.2%
FY25 Q3 18.2%
FY25 Q4 18.3%
FY26 Q1 18.3%
FY26 Q2 16.7%
Operating margin (TTM) Uber
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 0.9% Operating margin (TTM), FY23 Q4: 3.0% Operating margin (TTM), FY24 Q1: 4.0% Operating margin (TTM), FY24 Q2: 5.0% Operating margin (TTM), FY24 Q3: 6.4% Operating margin (TTM), FY24 Q4: 6.4% Operating margin (TTM), FY25 Q1: 8.5% Operating margin (TTM), FY25 Q2: 9.5% Operating margin (TTM), FY25 Q3: 9.2% Operating margin (TTM), FY25 Q4: 10.7% Operating margin (TTM), FY26 Q1: 11.7% Operating margin (TTM), FY26 Q2: 12.1% 12.1%

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

View chart data
Period Operating margin (TTM)
FY23 Q3 0.9%
FY23 Q4 3.0%
FY24 Q1 4.0%
FY24 Q2 5.0%
FY24 Q3 6.4%
FY24 Q4 6.4%
FY25 Q1 8.5%
FY25 Q2 9.5%
FY25 Q3 9.2%
FY25 Q4 10.7%
FY26 Q1 11.7%
FY26 Q2 12.1%
FCF margin (TTM) Uber
0% 5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 6.4% FCF margin (TTM), FY23 Q4: 9.0% FCF margin (TTM), FY24 Q1: 10.8% FCF margin (TTM), FY24 Q2: 11.9% FCF margin (TTM), FY24 Q3: 14.2% FCF margin (TTM), FY24 Q4: 15.7% FCF margin (TTM), FY25 Q1: 17.2% FCF margin (TTM), FY25 Q2: 18.0% FCF margin (TTM), FY25 Q3: 17.5% FCF margin (TTM), FY25 Q4: 18.8% FCF margin (TTM), FY26 Q1: 18.3% FCF margin (TTM), FY26 Q2: 18.3% 18.3%

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

View chart data
Period FCF margin (TTM)
FY23 Q3 6.4%
FY23 Q4 9.0%
FY24 Q1 10.8%
FY24 Q2 11.9%
FY24 Q3 14.2%
FY24 Q4 15.7%
FY25 Q1 17.2%
FY25 Q2 18.0%
FY25 Q3 17.5%
FY25 Q4 18.8%
FY26 Q1 18.3%
FY26 Q2 18.3%

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

Where the money goes

FY2025, from the 10-K

Each dollar Uber took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $52B
  2. Other income $4.5B · 8.6%
  3. Research and development $3.4B · 6.5%
  4. Selling, general and admin $8.1B · 15.6%
  5. Other operating costs $34.9B · 67.1%
  6. Operating income $5.6B · 10.7%
  7. Net income $10.1B · 19.3%

Shares of revenue. Source: Uber's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ billions 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 7.9 10.4 13.0 11.1 17.5 31.9 37.3 44.0 52.0 55.2
EBITDA −3.6 −2.6 −8.1 −4.3 −2.9 −0.9 1.9 3.5 6.3 7.4
Operating income −4.1 −3.0 −8.6 −4.9 −3.8 −1.8 1.1 2.8 5.6 6.7
Net income −4.0 1.0 −8.5 −6.8 −0.5 −9.1 1.9 9.9 10.1 9.6
Diluted EPS −$9.46 $0.00 −$6.81 −$3.86 −$0.29 −$4.65 $0.87 $4.56 $4.73 $4.59
Growth (year on year)
Revenue — +31.5% +24.6% −14.3% +56.7% +82.6% +17.0% +18.0% +18.3% +16.7%
EBITDA — — — — — — — +81.6% +79.0% +43.1%
Operating income — — — — — — — +152.2% +98.8% +48.6%
Net income — — −953.2% — — — — +422.3% +2.0% −24.1%
Diluted EPS — — — — — — — +424.1% +3.7% −21.7%
Margins
EBITDA margin −45.0% −25.0% −62.5% −38.5% −16.8% −2.8% 5.2% 8.0% 12.1% 13.5%
Operating margin −51.4% −29.1% −66.1% −43.7% −22.0% −5.7% 3.0% 6.4% 10.7% 12.1%
Net margin −50.8% 9.6% −65.4% −60.8% −2.8% −28.7% 5.1% 22.4% 19.3% 17.3%
Free-cash-flow margin −28.2% −20.1% −37.8% −30.2% −4.3% 1.2% 9.0% 15.7% 18.8% 18.3%
Cash flow
Cash from operations −1.4 −1.5 −4.3 −2.7 −0.4 0.6 3.6 7.1 10.1 10.4
Capital spending 0.8 0.6 0.6 0.6 0.3 0.3 0.2 0.2 0.3 0.3
Free cash flow −2.2 −2.1 −4.9 −3.4 −0.7 0.4 3.4 6.9 9.8 10.1
Stock-based pay 0.1 0.2 4.6 0.8 1.2 1.8 1.9 1.8 1.8 1.9
Free cash flow after stock pay −2.4 −2.3 −9.5 −4.2 −1.9 −1.4 1.4 5.1 7.9 8.2
Balance sheet
Cash 4.4 6.4 10.9 5.6 4.3 4.2 4.7 5.9 7.1 4.9
Total debt 0.0 7.5 5.8 7.9 9.4 9.4 9.6 9.6 10.6 14.7
Net debt (negative = net cash) −4.4 1.1 −5.1 2.3 5.1 5.2 4.9 3.7 3.5 9.9
Diluted shares 426m 479m 1,248m 1,753m 1,896m 1,975m 2,092m 2,151m 2,120m 2,088m
Returned to shareholders
Buybacks 0.1 0.0 0.0 — — 0.0 0.0 1.3 6.5 6.9
Total returned 0.1 0.0 0.0 — — 0.0 0.0 1.3 6.5 6.9

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

3 of 7 checks passed · June 30, 2026
What it owns · $65.8bn
Short-term assets $12.5bnLonger-term assets $53.3bn
What it owes, and who funded it · $64.7bn
Short-term liabilities $14.9bnLonger-term liabilities $22.5bnShareholders' equity $27.3bn
  • Short-term assets cover short-term liabilities $12.5bn of assets due within a year against $14.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $12.5bn short-term assets against $22.5bn of longer-dated liabilities.
  • More cash than debt $4.9bn of cash against $12.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 47% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 64% to 47% over five years.
  • A year's operating cash flow covers at least 20% of debt $10.4bn of operating cash flow against $12.7bn of debt.
  • Operating profit covers interest at least five times over Operating income of $6.7bn against $462m of interest.

From Uber'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)
$6.9B
Returned to shareholders
68%
of free cash flow
Buybacks, last 3 fiscal years
$7.8B
Diluted share count
−3.1%
year over year
Total shareholder yield
5.1%
dividends 0.0% + buybacks 5.1% of market value
R&D spending
6.8%
of revenue
Days sales outstanding
28 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in passenger ground transportation
Last 12 months unless stated UBER CAR HTZ LYFT Median
Revenue, last 12 months $55.2bn $11.7bn $8.9bn $6.8bn $10.3bn
Revenue growth, last 12 months 16.7% 0.4% 3.4% 10.8% 7.1%
Revenue growth, 3-year average 16.4% −0.8% −0.4% 16.8% 8.0%
Revenue growth, latest quarter 12.2% −1.3% 9.7% 16.1% 10.9%
Operating margin 12.1% — — −1.8% 5.2%
Operating margin, 3-year average 8.9% — — −2.1% 3.4%
Net margin 17.3% −5.4% −3.1% 42.3% 7.1%
Cash from operations / revenue 18.9% 24.8% 16.0% 17.6% 18.3%
Free-cash-flow margin 18.3% — 14.8% 15.5% 15.5%
Free-cash-flow margin, 3-year average 16.1% — 19.9% 12.4% 16.1%
Stock pay / revenue 3.5% 0.1% 0.8% 4.6% 2.1%
Change in share count −3.1% −0.1% 14.2% −4.5% −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 16.7% 7.6% 152 of 581
Change in growth rate Growth -1.6pp +1.1pp 426 of 580
Operating margin Profitability 12.1% 5.5% 161 of 544
Net margin Profitability 17.3% 3.8% 56 of 582
Free-cash-flow margin Cash generation 18.3% 4.6% 63 of 579
Stock pay as % of revenue Cash generation 3.5% 0.9% 416 of 512
Long-term debt as % of assets Balance sheet 16.3% 22.6% 163 of 453
Change in share count Balance sheet -3.1% 0.0% 78 of 529
Days sales outstanding Balance sheet 28 days 57 days 70 of 453

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 YoY
United States and Canada $26.5B ▲ 12.1%
United States $23.8B ▲ 10.9%
All Other Countries $17.6B ▲ 24.4%
EMEA $16.4B ▲ 30.6%
United Kingdom $10.6B ▲ 26.7%
Asia Pacific $5.9B ▲ 16.3%
Latin America $3.3B ▲ 19.0%

These categories overlap or exclude eliminations, so shares aren't shown.

From Uber's 10-K filed February 13, 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
$121B
Institutions reporting
2,397
Shares held vs prior quarter
▲ 1.2%
Positions opened / closed
186 / 204

Top buyers and sellers, Q2 2026: 1,141 institutions bought and 1,182 sold ; the biggest buyer was Capital Research Global Investors (+14.3M shares) and the biggest seller Toyota Motor Corp/ (−5.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $10.5B 146.0M 8.7% ▼ 3.3%
Vanguard Capital Management LLC $9.6B 132.9M 7.9% ▼ 0.6%
Capital Research Global Investors $9.4B 130.7M 7.8% ▲ 12.3%
State Street Corp $6.5B 89.7M 5.3% ▼ 1.0%
Morgan Stanley $5.3B 72.8M 4.3% ▼ 5.5%
Public Investment Fund $5.3B 72.8M 4.3% 0.0%
Geode Capital Management, LLC $3.3B 45.8M 2.7% ▼ 4.3%
Vanguard Portfolio Management LLC $2.5B 34.4M 2.0% ▼ 9.6%
Pershing Square Inc. $2.5B 34.3M 2.0% New
Norges Bank $1.9B 26.7M 1.6% —
FMR LLC $1.7B 24.2M 1.4% ▼ 7.0%
UBS Group AG $1.6B 22.4M 1.3% ▲ 24.0%

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 Uber's complete shareholder register. Values are as reported by the filers ; 7 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $36.9M 6 trades by 4 insiders, last 12 months Insider sales History → $188M 7 trades by 5 insiders · 0% under pre-set plans
Net ▼ $151M net selling
Insider Date Trade Shares Price Value
Uber Technologies, Inc 10% owner September 15, 2026 Sell 29,369,611 $6.21 $182M
Hazelbaker Jill See Remarks September 11, 2026 Sell 28,170 $71.31 $2M
Khosrowshahi Dara Chief Executive Officer September 10, 2026 Buy 141,000 $70.96 $10M
Macdonald Andrew See Remarks September 4, 2026 Buy 15,675 $76.44 $1.2M
Macdonald Andrew See Remarks September 4, 2026 Buy 54,325 $75.65 $4.1M
Uber Technologies, Inc 10% owner July 2, 2026 Buy 800,000 $25.00 $20M
Krishnamurthy Nikki SVP and Chief People Officer March 16, 2026 Sell 30,000 $74.45 $2.2M
Krishnamurthy Balaji (A) Chief Financial Officer February 24, 2026 Buy 22,400 $71.25 $1.6M
Krishnamurthy Balaji (A) Chief Financial Officer February 24, 2026 Buy 53 $71.32 $3,780
West Tony See Remarks January 20, 2026 Sell pre-set plan 3,125 $83.50 $260,938
West Tony See Remarks December 18, 2025 Sell pre-set plan 3,125 $80.36 $251,125
West Tony See Remarks November 18, 2025 Sell pre-set plan 3,125 $92.10 $287,812

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 86 trades and filings

In the last 12 months, 5 members of Congress disclosed 5 purchases and 7 sales of Uber shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded July 17, 2026, filed September 4, 2026
  • Dan Newhouse(R-WA 4):Purchase, $1,001 - $15,000, traded July 10, 2026, filed July 17, 2026
  • Nancy Pelosi(D-CA 11):Purchase (option), $500,001 - $1,000,000, traded May 29, 2026, filed June 23, 2026

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 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 4, 2026
  • November 4, 2025
  • August 6, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on Uber 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.

Uber in brief

What does Uber do?
Uber is a US-listed company in the passenger ground transportation industry. Its financial year ends in December.
What is Uber's stock ticker?
Uber trades under the ticker UBER on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Uber's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Uber reported revenue of $55.2B, 16.7% higher than a year earlier, according to its SEC filings.
What is Uber's free cash flow?
Uber's free-cash-flow margin is 18.3% of revenue over the trailing twelve months, ranking 63 of the 579 industrials companies we cover.
What is Uber's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Uber's free cash flow after stock-based pay gives ~$130 per share in the base case, and ~$95–$170 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Uber's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Capital Research Global Investors. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Uber buying back stock, and does it pay a dividend?
Uber spent $6.9B on share repurchases over the trailing twelve months, and its diluted share count fell 3.1% over the year.
What is Uber's market cap?
On November 2, 2026, Uber's market capitalisation was about $139B, with a price-to-earnings ratio of 14.5 and net debt of $9.8B. Market figures come from third-party market data and may be delayed.
How much debt does Uber have?
Uber's debt-to-equity ratio is 46.6%, from its latest balance sheet (64.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Uber's competitors?
In our Passenger Ground Transportation peer group, the companies closest to Uber are Avis Budget Group, Inc., Hertz Global Holdings, Inc and Lyft, Inc. The side-by-side comparison below sets their revenue, margins and growth against Uber's.
Are insiders buying or selling Uber stock?
Over the last 12 months, Uber's directors and officers reported 6 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Uber's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Uber announces its own schedule.