Uber Technologies, Inc financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Uber Technologies, 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	7,932	10,433	13,000	11,139	17,455	31,877	37,281	43,978	52,017
Cost of revenue	4,160	4,786	6,061	5,154	9,351	19,659	22,457	26,651	31,338
Gross profit	3,772	5,647	6,939	5,985	8,104	12,218	14,824	17,327	20,679
Research and development	1,201	1,505	4,836	2,205	2,054	2,798	3,164	3,109	3,402
Selling and marketing	2,524	3,151	4,626	3,583	4,789	4,756	4,356	4,337	4,898
General and administrative	2,263	2,082	3,299	2,666	2,316	3,136	2,682	3,639	3,241
Operating income	-4,080	-3,033	-8,596	-4,863	-3,834	-1,832	1,110	2,799	5,565
Interest expense	479	648	559	458	483	565	633	523	440
Interest income	71	104	234	55	37	139	484	721	743
Other non-operating income	-16	4,993	722	-1,625	3,292	-7,029	1,844	1,849	-68
Pre-tax income	-4,575	1,312	-8,433	-6,946	-1,025	-9,426	2,321	4,125	5,800
Income tax	-542	283	45	-192	-492	-181	213	-5,758	-4,346
Net income to minority interests	0	-10	-6	-20	-74	3	269	-11	40
Net income	-4,033	997	-8,506	-6,768	-496	-9,141	1,887	9,856	10,053
EBITDA	-3,570	-2,607	-8,124	-4,288	-2,932	-885	1,933	3,510	6,284
EPS, basic	-9.46	0.00	-6.81	-3.86	-0.26	-4.64	0.93	4.71	4.82
EPS, diluted	-9.46	0.00	-6.81	-3.86	-0.29	-4.65	0.87	4.56	4.73
Shares, basic (weighted)	426	443	1,248	1,753	1,893	1,972	2,036	2,095	2,085
Shares, diluted (weighted)	426	479	1,248	1,753	1,896	1,975	2,092	2,151	2,120
Dividend per share			0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance sheet

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	4,393	6,406	10,873	5,647	4,295	4,208	4,680	5,893	7,105
Short-term investments		0	440	1,180	0	103	727	1,084	528
Receivables		919	1,214	1,073	2,439	2,779	3,404	3,333	3,827
Other current assets		179	300	344	442	459	564	975	1,494
Total current assets		8,658	13,925	9,882	8,819	9,249	11,297	12,245	13,993
Property, plant and equipment		1,641	1,731	1,814	1,853	2,082	2,073	1,952	1,897
Lease right-of-use assets			1,594	1,274	1,388	1,449	1,241	1,158	1,114
Goodwill	39	153	167	6,109	8,420	8,263	8,151	8,066	8,931
Intangible assets		82	71	1,564	2,412	1,874	1,425	1,125	1,048
Long-term investments		10,355
Other non-current assets		51	88	124	397	518	1,590	2,574	3,618
Total assets		23,988	31,761	33,252	38,774	32,109	38,699	51,244	61,802
Accounts payable		150	272	235	860	728	790	858	1,013
Accrued liabilities		3,157	4,050	5,112	6,537	6,232	6,397
Deferred revenue		65	76
Short-term debt		27	27	27	27	27	25	1,150	0
Total current liabilities		4,259	5,639	6,865	9,024	8,853	9,454	11,476	12,320
Long-term debt		6,869	5,707	7,560	9,276	9,265	9,459	8,347	10,521
Lease liabilities			1,523	1,544	1,644	1,673	1,550	1,454	1,390
Other non-current liabilities		4,072	1,412	1,306	935	786	645	449	412
Total liabilities		17,196	16,578	19,498	23,425	23,605	26,017	28,768	33,719
Total debt		6,896	5,791	7,914	9,388	9,361	9,560	9,575	10,521
Paid-in capital		668	30,739	35,931	38,608	40,550	42,264	42,801	38,101
Retained earnings		-7,865	-16,362	-23,130	-23,626	-32,767	-30,594	-20,726	-10,628
Other comprehensive income		-188	-187	-535	-524	-443	-421	-517	-432
Shareholders' equity	-8,557	-7,385	14,190	12,266	14,458	7,340	11,249	21,558	27,041
Total equity	-8,557	-7,385	14,872	12,967	15,145	8,074	12,028	22,383	27,918
Total liabilities and equity		23,988	31,761	33,252	38,774	32,109	38,699	51,244	61,802
Shares outstanding		457	1,717	1,850	1,949	2,005	2,071	2,108	2,068

Cash flow statement

	FY2017	FY2019	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-4,033	987	-8,512	-6,788	-570	-9,138	2,156	9,845	10,093
Depreciation and amortization	510	426	472	575	902	947	823	711	719
Stock-based compensation	124	170	4,596	827	1,168	1,793	1,935	1,796	1,826
Deferred income tax	-762	35	-88	-266	-692	-441	26	-6,027	-4,779
Change in receivables	-442	-279	-407	142	-597	-542	-758	-142	-466
Change in payables	-79	-39	95	-133	90	-133	64	86	126
Cash from operations	-1,418	-1,541	-4,321	-2,745	-445	642	3,585	7,137	10,099
Capital expenditures	-821	-558	-588	-616	-298	-252	-223	-242	-336
Acquisitions	0	-64	-7	-1,471	-2,314	-59	0	0	-815
Purchases of investments	0	0	-441	-2,101	-1,113	-1,708	-8,774	-12,765	-21,447
Sales and maturities of investments	0	0	2	1,360	2,291	376	5,069	10,204	20,046
Cash from investing	-487	-695	-790	-2,869	-1,201	-1,637	-3,226	-3,177	-3,564
Debt issued	0	3,466	1,189	2,628	1,766	0	2,824	3,972	3,359
Debt repaid	-12	-19	-27	-527	-309	0	-2,675	-3,986	-2,350
Stock issued	3	27	19
Share buybacks	-131	-10	0			0	0	-1,252	-6,523
Cash from financing	1,015	4,640	8,939	1,379	1,780	15	-95	-2,087	-5,713
Exchange rate effect	22	-119	-4	-92	-69	-148	63	-267	215
Net change in cash	-868	2,285	3,824	-4,327	65	-1,128	327	1,606	1,037
Free cash flow	-2,239	-2,099	-4,909	-3,361	-743	390	3,362	6,895	9,763
Interest paid	61	124	332	412	449	513	629	475	386
Income taxes paid	153	289	133	82	87	175	234	324	345

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 $69.62 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	42.3%	Gross profit / revenue.
Operating margin	12.1%	Operating income / revenue.
EBITDA margin	13.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	12.1%	Pre-tax income / revenue.
Net margin	17.3%	Net income / revenue.
FCF margin	18.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	18.9%	Cash from operations / revenue.
Effective tax rate	-45.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	35.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	14.6%	Net income / average total assets.
Return on invested capital (ROIC)	15.1%	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	6.8%	Research and development expense / revenue.
Stock-based pay / revenue	3.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.6%	Capital expenditures / revenue.
D&A / revenue	1.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	18.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	17.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	36.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	19.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	19.2%	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	28.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	98.8%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	79.0%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	2.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	3.7%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	41.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	150.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	41.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	192.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	25.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	54.4%	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	17.1%	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	20.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	24.4%	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	13.2%	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	-1.4%	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	2.4%	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	3.9%	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	0.84x	Current assets / current liabilities.
Quick ratio	0.65x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.36x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.47x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	19.3%	Total debt / total assets.
Liabilities / assets	56.8%	Total liabilities / total assets.
Net debt	$7.33B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.98x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	14.5x	Operating income / interest expense.
Working capital	-$2.34B	Current assets - current liabilities.
Goodwill and intangibles / assets	16.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$16.71B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.84x	Revenue / average total assets.
Fixed asset turnover	30.5x	Revenue / average property, plant and equipment.
Receivables turnover	12.8x	Revenue / average receivables.
Days sales outstanding	28 days	365 x average receivables / revenue.
Days payables	16 days	365 x average accounts payable / cost of revenue.
FCF conversion	105.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.67	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	$26.94	Revenue / diluted weighted shares.
FCF per share	$4.93	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.08	Cash from operations / diluted weighted shares.
Book value per share	$13.39	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$8.19	Tangible book value / shares outstanding.
Cash per share	$2.64	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	68.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$142.20B	Share price x shares outstanding.
Enterprise value	$149.54B	Market cap + total debt - cash - short-term investments.
P/E	14.8x	Market cap / net income. Only when net income is positive.
P/S	2.57x	Market cap / revenue.
P/B	5.21x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	8.51x	Market cap / tangible book value, when positive.
P/FCF	14.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.6x	Market cap / cash from operations, when positive.
EV/Sales	2.71x	Enterprise value / revenue.
EV/EBIT	22.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	20.1x	Enterprise value / EBITDA, when both are positive.
EV/FCF	14.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.1%	Free cash flow / market cap.
Earnings yield	6.7%	Net income / market cap (the inverse of P/E).
Shareholder yield	4.9%	(Dividends paid + share buybacks) / market cap.

What was Uber Technologies, Inc's revenue in fiscal 2025?

Uber Technologies, Inc reported revenue of $52.02B for fiscal 2025, 18.3% higher than the year before.

Was Uber Technologies, Inc profitable in fiscal 2025?

Yes. Net income was $10.05B, a net margin of 19.3%.

How much free cash flow did Uber Technologies, Inc generate in fiscal 2025?

Cash from operations of $10.10B minus capital expenditures of $336.0M left free cash flow of $9.76B.

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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