Lyft, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Lyft, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,060	2,157	3,616	2,365	3,208	4,095	4,404	5,786	6,316
Cost of revenue	660	1,243	2,176	1,448	1,702	2,436	2,544	3,338	3,698
Gross profit	400	913	1,439	917	1,506	1,659	1,860	2,448	2,619
Research and development	137	301	1,506	909	912	857	556	397	451
Selling and marketing	567	804	814	416	411	532	481	789	875
General and administrative	221	448	1,186	946	916	1,286	871	937	1,002
Operating income	-708	-978	-2,702	-1,808	-1,135	-1,459	-476	-119	-188
Interest expense		0	0	32.7	51.6	19.7	26.2	28.9	20.8
Interest income		66.5	103	43.7	9.07	47.1	146	166
Other non-operating income	0.28	67.1	103	43.7	136	-100	170	173	156
Pre-tax income	-688	-911	-2,600	-1,797	-1,051	-1,579	-332	25.4	-53.2
Income tax	0.56	0.74	2.36	-44.5	11.2	5.87	8.62	2.57	-2,897
Net income	-688	-911	-2,602	-1,753	-1,062	-1,585	-340	22.8	2,844
EBITDA	-706	-959	-2,594	-1,651	-996	-1,304	-359	30	-53.1
EPS, basic	-35.53	-43.04	-11.44	-5.61	-3.17	-4.47	-0.88	0.06	6.92
EPS, diluted	-35.53	-43.04	-11.44	-5.61	-3.17	-4.47	-0.88	0.06	6.81
Shares, basic (weighted)	19.4	21.2	227	312	335	355	385	409	411
Shares, diluted (weighted)	19.4	21.2	227	312	335	355	385	414	418

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,106	518	358	320	457	281	559	759	1,132
Short-term investments		1,520	2,492	1,931	1,797	1,516	1,127	1,225	705
Other current assets		283	397	343	522	786	892	202	260
Total current assets		2,320	3,247	2,594	2,776	2,583	2,577	2,951	2,920
Property, plant and equipment		109	189	313	298	313	466	445	419
Lease right-of-use assets		0	441	276	223	135	98.2	148	166
Goodwill	0	152	159	183	181	262	258	251	440
Intangible assets		118	82.9	65.8	50.8	76.2	59.5	42.8	179
Other non-current assets		9.44	6.49	17	46.5	23.9	16.7	12	18.4
Total assets		3,760	5,691	4,679	4,774	4,556	4,564	5,435	9,030
Accounts payable		32.3	38.8	84.1	130	108	72.3	97.7	120
Accrued liabilities		606	940	954	1,264	1,562	1,509	1,666	2,197
Short-term debt			0	35.8	56.3	36.3	25.8	38.9	50.6
Total current liabilities		1,449	2,451	2,074	2,516	3,133	2,962	3,881	4,526
Long-term debt			0	644	655	803	839	566	1,002
Lease liabilities		0	382	266	210	176	134	152	160
Other non-current liabilities		30.5	3.86	18.3	50.9	55.6	87.9	69.3	68.4
Total liabilities		1,479	2,837	3,003	3,433	4,168	4,023	4,668	5,757
Total debt			0	680	711	839	865	995	1,053
Paid-in capital		73.9	8,399	8,977	9,706	10,335	10,827	11,035	10,687
Retained earnings		-2,945	-5,548	-7,300	-8,363	-9,941	-10,281	-10,258	-7,414
Other comprehensive income		0.13	2.73	-0.47	-2.51	-5.75	-4.95	-10.1	0.63
Shareholders' equity	-1,979	-2,871	2,854	1,676	1,341	389	542	767	3,274
Total equity	-1,979	-2,871	2,854	1,676	1,341	389	542	767	3,274
Total liabilities and equity		3,760	5,691	4,679	4,774	4,556	4,564	5,435	9,030
Shares outstanding		22.4	0

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-688	-911	-2,602	-1,753	-1,062	-1,585	-340	22.8	2,844
Depreciation and amortization	2.61	18.8	108	157	139	155	117	149	135
Stock-based compensation	9.55	8.58	1,599	566	725	751	485	331	322
Deferred income tax	0	-0.63	-2.25	-46.9	2.73	0.38	-2.39	-1.88	-2,895
Change in payables	21.4	-40.8	5.07	44.5	47.1	-27.2	-41.1	21.7	21.7
Cash from operations	-394	-281	-106	-1,379	-102	-237	-98.2	850	1,168
Acquisitions	0	-258	-12.3	-12.3	0	-146	1.63	0	-307
Purchases of investments	-2,559	-5,454	-6,449	-4,113	-3,802	-4,050	-3,289	-4,177	-3,345
Sales and maturities of investments	708	3,838	4,071	4,746	3,259	3,309	3,481	3,415	3,330
Cash from investing	-991	-1,044	-1,611	740	267	186	600	-518	407
Debt repaid		0	0	-50.6	-44.4	-67.6	-72.5	-84.1	-62.4
Stock issued	3.67	9.99	33.1	26.1	33.8	21.7	11	15.1	14.9
Share buybacks						0	0	-50	-500
Cash from financing	2,049	852	1,574	513	-72.5	-87.5	-122	-156	-686
Exchange rate effect	0	-0.25	0.33	-0.07	-0.11	-0.63	0.53	-1.64	1.68
Net change in cash	664	-472	-142	-126	92.7	-139	380	174	891
Interest paid		0	0	12.5	16.5	16.8	20.2	28.3	19.8
Income taxes paid		0.33	0.82	4.04	5.87	10.7	9.43	11.2	7.26

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $14.87 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	45.5%	Gross profit / revenue.
Operating margin	-1.8%	Operating income / revenue.
EBITDA margin	0.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.1%	Pre-tax income / revenue.
Net margin	42.3%	Net income / revenue.
Operating cash flow margin	17.6%	Cash from operations / revenue.
Return on equity (ROE)	94.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	31.5%	Net income / average total assets.
Return on invested capital (ROIC)	-3.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	7.0%	Research and development expense / revenue.
Stock-based pay / revenue	4.6%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	2.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	15.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	21.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	7.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	16.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	23.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-277.3%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	12,382.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	11,250.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	37.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	326.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	103.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	14.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	66.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	25.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	14.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	6.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.59x	Current assets / current liabilities.
Quick ratio	0.37x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.37x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.35x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	11.5%	Total debt / total assets.
Liabilities / assets	66.8%	Total liabilities / total assets.
Net debt	-$750.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-28.1x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-5.91x	Operating income / interest expense.
Working capital	-$2.02B	Current assets - current liabilities.
Goodwill and intangibles / assets	7.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.38B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.74x	Revenue / average total assets.
Fixed asset turnover	15.7x	Revenue / average property, plant and equipment.
Days payables	11 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.42	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$17.53	Revenue / diluted weighted shares.
Operating cash flow per share	$3.09	Cash from operations / diluted weighted shares.
Book value per share	$7.83	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.17	Tangible book value / shares outstanding.
Cash per share	$4.64	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$5.63B	Share price x shares outstanding.
Enterprise value	$4.88B	Market cap + total debt - cash - short-term investments.
P/E	1.96x	Market cap / net income. Only when net income is positive.
P/S	0.83x	Market cap / revenue.
P/B	1.86x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.36x	Market cap / tangible book value, when positive.
P/OCF	4.71x	Market cap / cash from operations, when positive.
EV/Sales	0.72x	Enterprise value / revenue.
EV/EBITDA	183x	Enterprise value / EBITDA, when both are positive.
Earnings yield	50.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	12.4%	(Dividends paid + share buybacks) / market cap.

What was Lyft, Inc.'s revenue in fiscal 2025?

Lyft, Inc. reported revenue of $6.32B for fiscal 2025, 9.2% higher than the year before.

Was Lyft, Inc. profitable in fiscal 2025?

Yes. Net income was $2.84B, a net margin of 45%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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