Uber Technologies
UBER · NYSEServices-Business Services, NEC · Fiscal year ends Dec 31
Uber Technologies reported revenue of $52B in the fiscal year ended Dec 2025, up 18.3% from the year before. Operating income was $5.6B, an operating margin of 10.7%, and net income was $10.1B. Operating cash flow of $10.1B less capital expenditure of $336M left free cash flow of $9.8B. Net debt was $3.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $17.5B | $31.9B | $37.3B | $44B | $52B |
| Research & development | $2.1B | $2.8B | $3.2B | $3.1B | $3.4B |
| Operating income | −$3.8B | −$1.8B | $1.1B | $2.8B | $5.6B |
| Interest expense | $483M | $565M | $633M | $523M | $440M |
| Pre-tax income | −$1B | −$9.4B | $2.3B | $4.1B | $5.8B |
| Income tax | −$492M | −$181M | $213M | −$5.8B | −$4.3B |
| Net income | −$496M | −$9.1B | $1.9B | $9.9B | $10.1B |
| Diluted EPS | −0.29 | −4.65 | 0.87 | 4.56 | 4.73 |
| Diluted shares | 1,896M | 1,975M | 2,092M | 2,151M | 2,120M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $4.3B | $4.2B | $4.7B | $5.9B | $7.1B |
| Receivables | $2.4B | $2.8B | $3.4B | $3.3B | $3.8B |
| Current assets | $8.8B | $9.2B | $11.3B | $12.2B | $14B |
| Net PP&E | $1.9B | $2.1B | $2.1B | – | – |
| Goodwill | $8.4B | $8.3B | $8.2B | $8.1B | $8.9B |
| Total assets | $38.8B | $32.1B | $38.7B | $51.2B | $61.8B |
| Payables | $860M | $728M | $790M | $858M | $1B |
| Deferred revenue | $167M | $133M | $122M | – | – |
| Current liabilities | $9B | $8.9B | $9.5B | $11.5B | $12.3B |
| Short-term debt | $27M | $27M | $25M | $1.2B | $0 |
| Long-term debt | $9.3B | $9.3B | $9.5B | $8.3B | $10.5B |
| Total liabilities | $23.4B | $23.6B | $26B | $28.8B | $33.7B |
| Shareholders' equity | $14.5B | $7.3B | $11.2B | $21.6B | $27B |
| Backlog (remaining obligations) | $157M | $131M | $122M | – | – |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −$445M | $642M | $3.6B | $7.1B | $10.1B |
| Capital expenditure | $298M | $252M | $223M | $242M | $336M |
| Free cash flow | −$743M | $390M | $3.4B | $6.9B | $9.8B |
| Depreciation & amortisation | $902M | $947M | $823M | $711M | $719M |
| Stock-based compensation | $1.2B | $1.8B | $1.9B | $1.8B | $1.8B |
| Acquisitions | $2.3B | $59M | $0 | $0 | $815M |
| Share buybacks | – | $0 | $0 | $1.3B | $6.5B |
| Dividend per share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 82.6% | 17.0% | 18.0% | 18.3% |
| Operating income growth (YoY) | – | – | – | 152.2% | 98.8% |
| EPS growth (YoY) | – | – | – | 424.1% | 3.7% |
| Operating margin | −22.0% | −5.7% | 3.0% | 6.4% | 10.7% |
| Net margin | −2.8% | −28.7% | 5.1% | 22.4% | 19.3% |
| Return on equityBlank when equity is negative | −3.4% | −124.5% | 16.8% | 45.7% | 37.2% |
| ROCEEBIT ÷ (assets − current liabilities) | −12.9% | −7.9% | 3.8% | 7.0% | 11.2% |
| Free cash flow margin | −4.3% | 1.2% | 9.0% | 15.7% | 18.8% |
| Cash conversion (CFO ÷ net income) | 0.90x | −0.07x | 1.90x | 0.72x | 1.00x |
| Receivable days | 51 | 32 | 33 | 28 | 27 |
| Interest cover | −7.94x | −3.24x | 1.75x | 5.35x | 12.6x |
| Debt ÷ equity | 0.64x | 1.27x | 0.84x | 0.44x | 0.39x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $5B | $5.1B | $4.8B | $3.6B | $3.4B |
| Current ratio | 0.98x | 1.04x | 1.19x | 1.07x | 1.14x |
Recent filings
More in Services-Business Services, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.