Stock Analysis on Net
Stock Analysis on Net

Uber Technologies Inc. (NYSE:UBER)

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Uber Technologies Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Activity Ratio
Total Asset Turnover
Reported 0.96 0.99 0.45 0.33 0.45
Adjusted 0.97 1.00 0.45 0.33 0.45
Liquidity Ratio
Current Ratio
Reported 1.19 1.04 0.98 1.44 2.47
Adjusted 1.20 1.05 0.98 1.45 2.48
Solvency Ratios
Debt to Equity
Reported 0.89 1.32 0.66 0.64 0.43
Adjusted 0.92 1.37 0.72 0.66 0.48
Debt to Capital
Reported 0.47 0.57 0.40 0.39 0.30
Adjusted 0.48 0.58 0.42 0.40 0.32
Financial Leverage
Reported 3.44 4.37 2.68 2.71 2.24
Adjusted 3.05 3.79 2.47 2.28 1.96
Profitability Ratios
Net Profit Margin
Reported 5.06% -28.68% -2.84% -60.76% -60.13%
Adjusted 5.94% -29.71% -7.20% -66.24% -60.78%
Return on Equity (ROE)
Reported 16.77% -124.54% -3.43% -55.18% -59.94%
Adjusted 17.50% -112.14% -8.00% -50.57% -53.10%
Return on Assets (ROA)
Reported 4.88% -28.47% -1.28% -20.35% -26.78%
Adjusted 5.74% -29.57% -3.24% -22.18% -27.09%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Uber Technologies Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Uber Technologies Inc. adjusted current ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Uber Technologies Inc. adjusted debt-to-equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Uber Technologies Inc. adjusted debt-to-capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Uber Technologies Inc. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Uber Technologies Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Uber Technologies Inc. adjusted ROE deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Uber Technologies Inc. adjusted ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Uber Technologies Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Revenue 37,281 31,877 17,455 11,139 14,147
Total assets 38,699 32,109 38,774 33,252 31,761
Activity Ratio
Total asset turnover1 0.96 0.99 0.45 0.33 0.45
Adjusted
Selected Financial Data (US$ in millions)
Revenue 37,281 31,877 17,455 11,139 14,147
Adjusted total assets2 38,618 32,023 38,763 33,268 31,745
Activity Ratio
Adjusted total asset turnover3 0.97 1.00 0.45 0.33 0.45

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Total asset turnover = Revenue ÷ Total assets
= 37,281 ÷ 38,699 = 0.96

2 Adjusted total assets. See details »

3 2023 Calculation
Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 37,281 ÷ 38,618 = 0.97

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Uber Technologies Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Current assets 11,297 9,249 8,819 9,882 13,925
Current liabilities 9,454 8,853 9,024 6,865 5,639
Liquidity Ratio
Current ratio1 1.19 1.04 0.98 1.44 2.47
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 11,388 9,329 8,870 9,937 13,959
Current liabilities 9,454 8,853 9,024 6,865 5,639
Liquidity Ratio
Adjusted current ratio3 1.20 1.05 0.98 1.45 2.48

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 11,297 ÷ 9,454 = 1.19

2 Adjusted current assets. See details »

3 2023 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 11,388 ÷ 9,454 = 1.20

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Uber Technologies Inc. adjusted current ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 9,962 9,691 9,537 7,884 6,042
Total Uber Technologies, Inc. stockholders’ equity 11,249 7,340 14,458 12,266 14,190
Solvency Ratio
Debt to equity1 0.89 1.32 0.66 0.64 0.43
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 11,702 11,565 11,366 9,603 7,761
Adjusted total equity3 12,657 8,445 15,704 14,591 16,194
Solvency Ratio
Adjusted debt to equity4 0.92 1.37 0.72 0.66 0.48

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to equity = Total debt ÷ Total Uber Technologies, Inc. stockholders’ equity
= 9,962 ÷ 11,249 = 0.89

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 11,702 ÷ 12,657 = 0.92

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Uber Technologies Inc. adjusted debt-to-equity ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 9,962 9,691 9,537 7,884 6,042
Total capital 21,211 17,031 23,995 20,150 20,232
Solvency Ratio
Debt to capital1 0.47 0.57 0.40 0.39 0.30
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 11,702 11,565 11,366 9,603 7,761
Adjusted total capital3 24,359 20,010 27,070 24,194 23,955
Solvency Ratio
Adjusted debt to capital4 0.48 0.58 0.42 0.40 0.32

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 9,962 ÷ 21,211 = 0.47

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 11,702 ÷ 24,359 = 0.48

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Uber Technologies Inc. adjusted debt-to-capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total assets 38,699 32,109 38,774 33,252 31,761
Total Uber Technologies, Inc. stockholders’ equity 11,249 7,340 14,458 12,266 14,190
Solvency Ratio
Financial leverage1 3.44 4.37 2.68 2.71 2.24
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 38,618 32,023 38,763 33,268 31,745
Adjusted total equity3 12,657 8,445 15,704 14,591 16,194
Solvency Ratio
Adjusted financial leverage4 3.05 3.79 2.47 2.28 1.96

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Financial leverage = Total assets ÷ Total Uber Technologies, Inc. stockholders’ equity
= 38,699 ÷ 11,249 = 3.44

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 38,618 ÷ 12,657 = 3.05

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Uber Technologies Inc. adjusted financial leverage ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Uber Technologies, Inc. 1,887 (9,141) (496) (6,768) (8,506)
Revenue 37,281 31,877 17,455 11,139 14,147
Profitability Ratio
Net profit margin1 5.06% -28.68% -2.84% -60.76% -60.13%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss) including non-controlling interests2 2,215 (9,470) (1,257) (7,378) (8,599)
Revenue 37,281 31,877 17,455 11,139 14,147
Profitability Ratio
Adjusted net profit margin3 5.94% -29.71% -7.20% -66.24% -60.78%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Net profit margin = 100 × Net income (loss) attributable to Uber Technologies, Inc. ÷ Revenue
= 100 × 1,887 ÷ 37,281 = 5.06%

2 Adjusted net income (loss) including non-controlling interests. See details »

3 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) including non-controlling interests ÷ Revenue
= 100 × 2,215 ÷ 37,281 = 5.94%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Uber Technologies Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Uber Technologies, Inc. 1,887 (9,141) (496) (6,768) (8,506)
Total Uber Technologies, Inc. stockholders’ equity 11,249 7,340 14,458 12,266 14,190
Profitability Ratio
ROE1 16.77% -124.54% -3.43% -55.18% -59.94%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss) including non-controlling interests2 2,215 (9,470) (1,257) (7,378) (8,599)
Adjusted total equity3 12,657 8,445 15,704 14,591 16,194
Profitability Ratio
Adjusted ROE4 17.50% -112.14% -8.00% -50.57% -53.10%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROE = 100 × Net income (loss) attributable to Uber Technologies, Inc. ÷ Total Uber Technologies, Inc. stockholders’ equity
= 100 × 1,887 ÷ 11,249 = 16.77%

2 Adjusted net income (loss) including non-controlling interests. See details »

3 Adjusted total equity. See details »

4 2023 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) including non-controlling interests ÷ Adjusted total equity
= 100 × 2,215 ÷ 12,657 = 17.50%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Uber Technologies Inc. adjusted ROE deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Uber Technologies, Inc. 1,887 (9,141) (496) (6,768) (8,506)
Total assets 38,699 32,109 38,774 33,252 31,761
Profitability Ratio
ROA1 4.88% -28.47% -1.28% -20.35% -26.78%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss) including non-controlling interests2 2,215 (9,470) (1,257) (7,378) (8,599)
Adjusted total assets3 38,618 32,023 38,763 33,268 31,745
Profitability Ratio
Adjusted ROA4 5.74% -29.57% -3.24% -22.18% -27.09%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROA = 100 × Net income (loss) attributable to Uber Technologies, Inc. ÷ Total assets
= 100 × 1,887 ÷ 38,699 = 4.88%

2 Adjusted net income (loss) including non-controlling interests. See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) including non-controlling interests ÷ Adjusted total assets
= 100 × 2,215 ÷ 38,618 = 5.74%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Uber Technologies Inc. adjusted ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.