Stock Analysis on Net

Uber Technologies Inc. (NYSE:UBER)

Analysis of Solvency Ratios 

Microsoft Excel

Solvency Ratios (Summary)

Uber Technologies Inc., solvency ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Debt Ratios
Debt to equity 0.45 0.89 1.32 0.66 0.64
Debt to equity (including operating lease liability) 0.53 1.04 1.58 0.79 0.78
Debt to capital 0.31 0.47 0.57 0.40 0.39
Debt to capital (including operating lease liability) 0.35 0.51 0.61 0.44 0.44
Debt to assets 0.19 0.26 0.30 0.25 0.24
Debt to assets (including operating lease liability) 0.22 0.30 0.36 0.29 0.29
Financial leverage 2.38 3.44 4.37 2.68 2.71
Coverage Ratios
Interest coverage 8.81 4.74 -15.49 -1.20 -14.24
Fixed charge coverage 6.00 3.48 -9.72 -0.36 -6.43

Based on: 10-K (reporting date: 2024-12-31), 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Uber Technologies Inc. debt to equity ratio improved from 2022 to 2023 and from 2023 to 2024.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Uber Technologies Inc. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Uber Technologies Inc. debt to capital ratio improved from 2022 to 2023 and from 2023 to 2024.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Uber Technologies Inc. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Uber Technologies Inc. debt to assets ratio improved from 2022 to 2023 and from 2023 to 2024.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Uber Technologies Inc. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Uber Technologies Inc. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Uber Technologies Inc. interest coverage ratio improved from 2022 to 2023 and from 2023 to 2024.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Uber Technologies Inc. fixed charge coverage ratio improved from 2022 to 2023 and from 2023 to 2024.

Debt to Equity

Uber Technologies Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,150 25 27 27 27
Finance leases liabilities, current 136 156 115 191 177
Long-term debt, net of current portion 8,347 9,459 9,265 9,276 7,560
Finance leases liabilities, non-current 174 322 284 43 120
Total debt 9,807 9,962 9,691 9,537 7,884
 
Total Uber Technologies, Inc. stockholders’ equity 21,558 11,249 7,340 14,458 12,266
Solvency Ratio
Debt to equity1 0.45 0.89 1.32 0.66 0.64
Benchmarks
Debt to Equity, Competitors2
FedEx Corp. 0.73 0.79 0.81 0.86 1.20
Union Pacific Corp. 1.85 2.20 2.74 2.10 1.58
United Airlines Holdings Inc. 2.26 3.40 4.68 7.03 4.75
United Parcel Service Inc. 1.27 1.29 0.99 1.54 37.53
Debt to Equity, Sector
Transportation 1.16 1.49 1.62 1.63 2.02
Debt to Equity, Industry
Industrials 1.39 1.52 1.42 1.37 1.82

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to equity = Total debt ÷ Total Uber Technologies, Inc. stockholders’ equity
= 9,807 ÷ 21,558 = 0.45

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Uber Technologies Inc. debt to equity ratio improved from 2022 to 2023 and from 2023 to 2024.

Debt to Equity (including Operating Lease Liability)

Uber Technologies Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,150 25 27 27 27
Finance leases liabilities, current 136 156 115 191 177
Long-term debt, net of current portion 8,347 9,459 9,265 9,276 7,560
Finance leases liabilities, non-current 174 322 284 43 120
Total debt 9,807 9,962 9,691 9,537 7,884
Operating lease liabilities, current 175 190 201 185 175
Operating lease liabilities, non-current 1,454 1,550 1,673 1,644 1,544
Total debt (including operating lease liability) 11,436 11,702 11,565 11,366 9,603
 
Total Uber Technologies, Inc. stockholders’ equity 21,558 11,249 7,340 14,458 12,266
Solvency Ratio
Debt to equity (including operating lease liability)1 0.53 1.04 1.58 0.79 0.78
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
FedEx Corp. 1.37 1.47 1.49 1.51 1.97
Union Pacific Corp. 1.92 2.31 2.87 2.22 1.67
United Airlines Holdings Inc. 2.65 3.94 5.41 8.17 5.69
United Parcel Service Inc. 1.53 1.54 1.19 1.79 42.24
Debt to Equity (including Operating Lease Liability), Sector
Transportation 1.48 1.88 2.03 2.02 2.51
Debt to Equity (including Operating Lease Liability), Industry
Industrials 1.55 1.71 1.59 1.54 2.00

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Uber Technologies, Inc. stockholders’ equity
= 11,436 ÷ 21,558 = 0.53

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Uber Technologies Inc. debt to equity ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024.

Debt to Capital

Uber Technologies Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,150 25 27 27 27
Finance leases liabilities, current 136 156 115 191 177
Long-term debt, net of current portion 8,347 9,459 9,265 9,276 7,560
Finance leases liabilities, non-current 174 322 284 43 120
Total debt 9,807 9,962 9,691 9,537 7,884
Total Uber Technologies, Inc. stockholders’ equity 21,558 11,249 7,340 14,458 12,266
Total capital 31,365 21,211 17,031 23,995 20,150
Solvency Ratio
Debt to capital1 0.31 0.47 0.57 0.40 0.39
Benchmarks
Debt to Capital, Competitors2
FedEx Corp. 0.42 0.44 0.45 0.46 0.55
Union Pacific Corp. 0.65 0.69 0.73 0.68 0.61
United Airlines Holdings Inc. 0.69 0.77 0.82 0.88 0.83
United Parcel Service Inc. 0.56 0.56 0.50 0.61 0.97
Debt to Capital, Sector
Transportation 0.54 0.60 0.62 0.62 0.67
Debt to Capital, Industry
Industrials 0.58 0.60 0.59 0.58 0.65

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 9,807 ÷ 31,365 = 0.31

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Uber Technologies Inc. debt to capital ratio improved from 2022 to 2023 and from 2023 to 2024.

Debt to Capital (including Operating Lease Liability)

Uber Technologies Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,150 25 27 27 27
Finance leases liabilities, current 136 156 115 191 177
Long-term debt, net of current portion 8,347 9,459 9,265 9,276 7,560
Finance leases liabilities, non-current 174 322 284 43 120
Total debt 9,807 9,962 9,691 9,537 7,884
Operating lease liabilities, current 175 190 201 185 175
Operating lease liabilities, non-current 1,454 1,550 1,673 1,644 1,544
Total debt (including operating lease liability) 11,436 11,702 11,565 11,366 9,603
Total Uber Technologies, Inc. stockholders’ equity 21,558 11,249 7,340 14,458 12,266
Total capital (including operating lease liability) 32,994 22,951 18,905 25,824 21,869
Solvency Ratio
Debt to capital (including operating lease liability)1 0.35 0.51 0.61 0.44 0.44
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
FedEx Corp. 0.58 0.60 0.60 0.60 0.66
Union Pacific Corp. 0.66 0.70 0.74 0.69 0.63
United Airlines Holdings Inc. 0.73 0.80 0.84 0.89 0.85
United Parcel Service Inc. 0.61 0.61 0.54 0.64 0.98
Debt to Capital (including Operating Lease Liability), Sector
Transportation 0.60 0.65 0.67 0.67 0.71
Debt to Capital (including Operating Lease Liability), Industry
Industrials 0.61 0.63 0.61 0.61 0.67

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 11,436 ÷ 32,994 = 0.35

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Uber Technologies Inc. debt to capital ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024.

Debt to Assets

Uber Technologies Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,150 25 27 27 27
Finance leases liabilities, current 136 156 115 191 177
Long-term debt, net of current portion 8,347 9,459 9,265 9,276 7,560
Finance leases liabilities, non-current 174 322 284 43 120
Total debt 9,807 9,962 9,691 9,537 7,884
 
Total assets 51,244 38,699 32,109 38,774 33,252
Solvency Ratio
Debt to assets1 0.19 0.26 0.30 0.25 0.24
Benchmarks
Debt to Assets, Competitors2
FedEx Corp. 0.23 0.24 0.24 0.25 0.30
Union Pacific Corp. 0.46 0.49 0.51 0.47 0.43
United Airlines Holdings Inc. 0.39 0.45 0.48 0.52 0.48
United Parcel Service Inc. 0.30 0.31 0.28 0.32 0.40
Debt to Assets, Sector
Transportation 0.32 0.35 0.36 0.36 0.38
Debt to Assets, Industry
Industrials 0.31 0.31 0.31 0.30 0.33

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 9,807 ÷ 51,244 = 0.19

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Uber Technologies Inc. debt to assets ratio improved from 2022 to 2023 and from 2023 to 2024.

Debt to Assets (including Operating Lease Liability)

Uber Technologies Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,150 25 27 27 27
Finance leases liabilities, current 136 156 115 191 177
Long-term debt, net of current portion 8,347 9,459 9,265 9,276 7,560
Finance leases liabilities, non-current 174 322 284 43 120
Total debt 9,807 9,962 9,691 9,537 7,884
Operating lease liabilities, current 175 190 201 185 175
Operating lease liabilities, non-current 1,454 1,550 1,673 1,644 1,544
Total debt (including operating lease liability) 11,436 11,702 11,565 11,366 9,603
 
Total assets 51,244 38,699 32,109 38,774 33,252
Solvency Ratio
Debt to assets (including operating lease liability)1 0.22 0.30 0.36 0.29 0.29
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
FedEx Corp. 0.43 0.44 0.43 0.44 0.49
Union Pacific Corp. 0.48 0.51 0.53 0.50 0.45
United Airlines Holdings Inc. 0.45 0.52 0.55 0.60 0.57
United Parcel Service Inc. 0.37 0.38 0.33 0.37 0.44
Debt to Assets (including Operating Lease Liability), Sector
Transportation 0.40 0.44 0.45 0.45 0.47
Debt to Assets (including Operating Lease Liability), Industry
Industrials 0.35 0.35 0.34 0.34 0.36

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 11,436 ÷ 51,244 = 0.22

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Uber Technologies Inc. debt to assets ratio (including operating lease liability) improved from 2022 to 2023 and from 2023 to 2024.

Financial Leverage

Uber Technologies Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Total assets 51,244 38,699 32,109 38,774 33,252
Total Uber Technologies, Inc. stockholders’ equity 21,558 11,249 7,340 14,458 12,266
Solvency Ratio
Financial leverage1 2.38 3.44 4.37 2.68 2.71
Benchmarks
Financial Leverage, Competitors2
FedEx Corp. 3.15 3.34 3.45 3.43 4.02
Union Pacific Corp. 4.01 4.54 5.38 4.49 3.68
United Airlines Holdings Inc. 5.84 7.63 9.77 13.56 9.99
United Parcel Service Inc. 4.19 4.09 3.59 4.87 94.99
Financial Leverage, Sector
Transportation 3.67 4.25 4.53 4.48 5.38
Financial Leverage, Industry
Industrials 4.49 4.94 4.65 4.52 5.49

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Financial leverage = Total assets ÷ Total Uber Technologies, Inc. stockholders’ equity
= 51,244 ÷ 21,558 = 2.38

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Uber Technologies Inc. financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024.

Interest Coverage

Uber Technologies Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Uber Technologies, Inc. 9,856 1,887 (9,141) (496) (6,768)
Add: Net income attributable to noncontrolling interest (11) 269 3 (74) (20)
Add: Income tax expense (5,758) 213 (181) (492) (192)
Add: Interest expense 523 633 565 483 458
Earnings before interest and tax (EBIT) 4,610 3,002 (8,754) (579) (6,522)
Solvency Ratio
Interest coverage1 8.81 4.74 -15.49 -1.20 -14.24
Benchmarks
Interest Coverage, Competitors2
FedEx Corp. 8.83 8.73 8.11 9.42 3.48
Union Pacific Corp. 7.93 7.14 8.14 8.33 7.12
United Airlines Holdings Inc. 3.97 2.91 1.59 -0.62 -7.89
United Parcel Service Inc. 9.59 11.92 22.06 24.91 3.63
Interest Coverage, Sector
Transportation 7.31 6.34 5.17 6.98 -0.34
Interest Coverage, Industry
Industrials 5.79 6.64 4.98 5.14 1.25

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 4,610 ÷ 523 = 8.81

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Uber Technologies Inc. interest coverage ratio improved from 2022 to 2023 and from 2023 to 2024.

Fixed Charge Coverage

Uber Technologies Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Uber Technologies, Inc. 9,856 1,887 (9,141) (496) (6,768)
Add: Net income attributable to noncontrolling interest (11) 269 3 (74) (20)
Add: Income tax expense (5,758) 213 (181) (492) (192)
Add: Interest expense 523 633 565 483 458
Earnings before interest and tax (EBIT) 4,610 3,002 (8,754) (579) (6,522)
Add: Operating lease cost 294 321 304 299 482
Earnings before fixed charges and tax 4,904 3,323 (8,450) (280) (6,040)
 
Interest expense 523 633 565 483 458
Operating lease cost 294 321 304 299 482
Fixed charges 817 954 869 782 940
Solvency Ratio
Fixed charge coverage1 6.00 3.48 -9.72 -0.36 -6.43
Benchmarks
Fixed Charge Coverage, Competitors2
FedEx Corp. 2.43 2.34 2.29 2.83 1.50
Union Pacific Corp. 6.47 5.82 6.64 6.81 5.79
United Airlines Holdings Inc. 2.85 2.25 1.38 -0.01 -3.58
United Parcel Service Inc. 5.19 6.21 11.30 12.66 2.31
Fixed Charge Coverage, Sector
Transportation 3.88 3.54 2.98 3.86 0.41
Fixed Charge Coverage, Industry
Industrials 3.96 4.32 3.30 3.44 1.12

Based on: 10-K (reporting date: 2024-12-31), 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).

1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 4,904 ÷ 817 = 6.00

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Uber Technologies Inc. fixed charge coverage ratio improved from 2022 to 2023 and from 2023 to 2024.