Stock Analysis on Net
Stock Analysis on Net

Uber Technologies Inc. (NYSE:UBER)

Price to FCFE (P/FCFE) 

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Uber Technologies Inc., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income (loss) attributable to Uber Technologies, Inc. 1,887 (9,141) (496) (6,768) (8,506)
Net (income) loss attributable to non-controlling interests, net of tax 269 3 (74) (20) (6)
Net noncash charges 1,264 9,445 (1,557) 3,311 4,691
Change in assets and liabilities, net of impact of business acquisitions and disposals 165 335 1,682 732 (500)
Net cash provided by (used in) operating activities 3,585 642 (445) (2,745) (4,321)
Purchases of property and equipment (223) (252) (298) (616) (588)
Issuance of term loan and notes, net of issuance costs 2,824 — 1,484 2,628 1,189
Principal repayment on term loan and notes (2,675) — (27) (527) (27)
Principal payments on finance leases (171) (184) (226) (224) (138)
Free cash flow to equity (FCFE) 3,340 206 488 (1,484) (3,885)

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Uber Technologies Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Uber Technologies Inc. FCFE decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Price to FCFE Ratio, Current

Uber Technologies Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 2,105,709,325
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 3,340
FCFE per share 1.59
Current share price (P) 60.73
Valuation Ratio
P/FCFE 38.29
Benchmarks
P/FCFE, Competitors1
FedEx Corp. 22.22
Union Pacific Corp. 32.81
United Parcel Service Inc. 14.59
P/FCFE, Sector
Transportation 25.22
P/FCFE, Industry
Industrials 23.42

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Uber Technologies Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 2,076,497,400 2,009,907,175 1,954,464,088 1,858,167,579 1,723,775,076
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 3,340 206 488 (1,484) (3,885)
FCFE per share3 1.61 0.10 0.25 -0.80 -2.25
Share price1, 4 81.39 34.20 34.87 54.40 32.85
Valuation Ratio
P/FCFE5 50.60 333.68 139.66 — —
Benchmarks
P/FCFE, Competitors6
FedEx Corp. 25.37 19.48 36.75 13.28 38.51
Union Pacific Corp. 36.37 13.19 17.16 18.08 15.24
United Parcel Service Inc. 17.24 21.80 22.62 33.39 19.54
P/FCFE, Sector
Transportation 29.42 20.55 24.57 31.15 31.09
P/FCFE, Industry
Industrials 22.81 23.85 — 49.40 28.48

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 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 3,340,000,000 ÷ 2,076,497,400 = 1.61

4 Closing price as at the filing date of Uber Technologies Inc. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 81.39 ÷ 1.61 = 50.60

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Uber Technologies Inc. P/FCFE ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.