Uber Technologies, Inc (UBER)

Price$66.60Cached quoteAs of 2026-11-04 08:04 UTC

AI: Fair-priced

Price checkUber looks reasonably priced because strong cash growth is offset by unusually large investment commitments.

Uber closed August 20, 2026 at $78.86, implying roughly a $161 billion market value using 2.04 billion June shares. Trailing four-quarter free cash flow was about $10.1 billion—cash left after running and investing in the business—so the shares cost about 16 times that cash flow, a roughly 6.3% cash yield. That is attractive for a business still growing bookings above 20%, but less clearly cheap after considering $7.9 billion of net debt, the pending Delivery Hero purchase, and planned robotaxi investment.

Big pictureUber has transformed into a durable cash generator, although reported profits still contain large investment swings.

Revenue rose from $37.3 billion in 2023 to $52.0 billion in 2025, while operating income climbed from $1.1 billion to $5.6 billion. Operating cash flow reached $10.1 billion in 2025 versus $3.6 billion in 2023. The latest four quarters produced about $10.1 billion of free cash flow, and second-quarter 2026 operating income rose 30% year over year to $1.9 billion. Reported net income is less dependable: second-quarter profit included a $1.6 billion gain from revaluing equity investments, while first-quarter profit absorbed a $1.5 billion loss.

Business strengthScale, rising margins and shrinking share count strengthen Uber, but its balance sheet is becoming less conservative.

Second-quarter trips grew 18% and gross bookings grew 24% to $58.0 billion, while adjusted operating profitability improved, showing that additional activity is increasingly converting into earnings. Uber spent $3.5 billion on share repurchases during the first half of 2026, and shares outstanding fell about 2.2% from December and roughly 2.2% year over year despite $1.0 billion of first-half stock compensation. However, June cash was $4.9 billion against $12.7 billion of debt, leaving $7.9 billion of net debt before financing the Delivery Hero transaction.

What could change the storyThe valuation becomes compelling if cash growth persists, but expensive expansion could erase that margin of safety.

The strongest bull case is continued 20%-plus booking growth with faster profit growth: second-quarter non-standard operating income rose 40%, and trailing free cash flow exceeded $10 billion. At $78.86, even mid-teens long-term cash growth would make today’s price look modest. The bear case is capital allocation. Uber agreed to spend about $13.7 billion for Delivery Hero after existing stakes and says autonomous-vehicle commitments could exceed $10 billion over coming years. A slowdown in ride, delivery or freight demand would matter more if debt rises while those investments are still earning uncertain returns.

AI: News

Second-quarter resultsUber delivered strong booking and profit growth, but softer guidance and robotaxi spending worried investors.

On August 5, 2026, Uber reported $58.0 billion of second-quarter gross bookings, up 24%, and $1.9 billion of operating income, up 30%. Free cash flow was $2.8 billion. Third-quarter adjusted earnings guidance of $0.84 to $0.88 per share was slightly below the $0.89 analyst expectation cited by Reuters. Reuters reported the shares fell 4.8% after the announcement; attribution is supported by the earnings release and accompanying investment commentary, though market moves can reflect several factors.

Delivery Hero takeoverUber committed billions to global food-delivery expansion, increasing growth potential while sharply raising capital needs.

On July 16, 2026, Uber announced a €41.50-per-share cash offer for Delivery Hero, valuing the company at $14.8 billion, or about $13.7 billion after Uber’s prior stake purchases. Uber expects the deal to add to adjusted earnings after closing and by a high-single-digit percentage by year three, but it will use cash and new debt. Reuters market data showed Uber down about 4% that day, consistent with investor concern about price, financing and regulatory complexity, without proving those factors alone caused the decline.

Robotaxi spending expandsUber is spending heavily to secure a central role in self-driving rides rather than merely supplying demand.

On August 5, 2026, management said Uber expects to invest more than $10 billion in autonomous-vehicle activities over coming years, including partner equity and fleet support. Reuters also reported in June that Uber had committed close to $500 million to Nuro within a plan involving 35,000 robotaxis. The opportunity is significant if autonomous rides lower driver costs and keep Uber central to customer demand, but returns remain uncertain and these commitments compete directly with debt reduction and share repurchases.

Drone delivery partnershipUber added drones to its delivery network, offering another possible route to lower last-mile costs.

On August 17, 2026, Uber and Zipline announced plans to introduce autonomous drone delivery for Uber Eats in the United States, alongside an Uber investment in Zipline. The commercial value is still uncertain because investment terms and near-term economics were not disclosed. If drones eventually handle suitable orders more cheaply than human couriers, delivery margins could improve; if deployment remains limited or capital intensive, the financial impact may stay small. No reliable stock-price move can be attributed specifically to this announcement.

Loading local price history

Revenue

2017

2018

2019

2020

2021

2022

2023

2024

2025

Net income

2017

2018

2019

2020

2021

2022

2023

2024

2025

Free cash flow

2017

2018

2019

2020

2021

2022

2023

2024

2025

Total cash / debt

CashTotal debt

2017

2018

2019

2020

2021

2022

2023

2024

2025

Financial statements

	2025	2024	2023	2022	2021	2020	2019	2018	2017
Revenue	$52.02B	$43.98B	$37.28B	$31.88B	$17.45B	$11.14B	$13.00B	$10.43B	$7.93B
Gross profit	$20.68B	$17.33B	$14.82B	$12.22B	$8.10B	$5.99B	$6.94B	$5.65B	$3.77B
Gross margin	39.75%	39.40%	39.76%	38.33%	46.43%	53.73%	53.38%	54.13%	47.55%
Research & development	$3.40B	$3.11B	$3.16B	$2.80B	$2.05B	$2.21B	$4.84B	$1.50B	$1.20B
Operating expenses	$15.11B	$14.53B	$13.71B	$14.05B	$11.94B	$10.85B	$15.54B	$8.68B	$7.85B
Operating income	$5.57B	$2.80B	$1.11B	−$1.83B	−$3.83B	−$4.86B	−$8.60B	−$3.03B	−$4.08B
Operating margin	10.70%	6.36%	2.98%	−5.75%	−21.97%	−43.66%	−66.12%	−29.07%	−51.44%
EBITDA	$6.28B	$3.51B	$1.93B	−$885.0M	−$2.93B	−$4.29B	−$8.12B	−$2.61B	−$3.57B
EBITDA margin	12.08%	7.98%	5.18%	−2.78%	−16.80%	−38.50%	−62.49%	−24.99%	−45.01%
Net income	$10.05B	$9.86B	$1.89B	−$9.14B	−$496.0M	−$6.77B	−$8.51B	$997.0M	−$4.03B
Net profit margin	19.33%	22.41%	5.06%	−28.68%	−2.84%	−60.76%	−65.43%	9.56%	−50.84%
Basic EPSper basic share	$4.82	$4.71	$0.93	-$4.64	-$0.26	-$3.86	-$6.81	$0.00	-$9.46
Diluted EPSper diluted share	$4.73	$4.56	$0.87	-$4.65	-$0.29	-$3.86	-$6.81	$0.00	-$9.46

Review official source filings ↗

Owners

Reported shareholders

Reference date Jun 30, 2026

7.16%of listed shares

BlackRock, Inc.145.97M shares · Jun 30, 2026

View holders

Top 20 reported holders of UBER
Holder	% owned
BlackRock, Inc.	7.16%145.97M shares
VANGUARD CAPITAL MANAGEMENT LLC	6.51%132.89M shares
Capital Research Global Investors	6.41%130.66M shares
STATE STREET CORP	4.40%89.69M shares
MORGAN STANLEY	3.57%72.85M shares
PUBLIC INVESTMENT FUND	3.57%72.84M shares
GEODE CAPITAL MANAGEMENT, LLC	2.25%45.81M shares
VANGUARD PORTFOLIO MANAGEMENT LLC	1.69%34.45M shares
PERSHING SQUARE INC.	1.68%34.33M shares
NORGES BANK	1.31%26.71M shares
FMR LLC	1.18%24.15M shares
UBS Group AG	1.10%22.4M shares
NORTHERN TRUST CORP	0.83%16.92M shares
GOLDMAN SACHS GROUP INC	0.82%16.82M shares
Capital World Investors	0.82%16.67M shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	0.78%15.96M shares
DEUTSCHE BANK AG\	0.73%14.81M shares
BANK OF AMERICA CORP /DE/	0.70%14.22M shares
VICTORY CAPITAL MANAGEMENT INC	0.66%13.42M shares
ROYAL BANK OF CANADA	0.64%13.1M shares

Percentages use 2.04B shares of this listed class outstanding on Jun 30, 2026.

Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.

Source: SEC Form 13F ↗Updated Oct 21, 2026 · Quarterly data

Insider buys & sells

Oct 1, 2024–Sep 30, 2026

Buys16$16.97M disclosed value

Sells (SEC code S)28$77.49M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Sep 11, 2026Form 4	Hazelbaker JillSee Remarks	SellCommon Stock	28.2K	$71.31	$2.01M	149.5K
Sep 10, 2026Form 4	KHOSROWSHAHI DARAChief Executive Officer	BuyCommon Stock	141.0K	$70.96	$10.01M	1.37M
Sep 4, 2026Form 4	Macdonald AndrewSee Remarks	BuyCommon Stock	15.7K	$76.44	$1.20M	426.3K
Sep 4, 2026Form 4	Macdonald AndrewSee Remarks	BuyCommon Stock	54.3K	$75.65	$4.11M	410.6K
Mar 16, 2026Form 4	Krishnamurthy NikkiSVP and Chief People Officer	SellCommon Stock	30.0K	$74.45	$2.23M	460.8K

Review ownership filings at SEC.gov ↗

Community posts

View community

It’s quiet here.

No posts about UBER yet. Start the conversation.

Write the first post

Uber Technologies, Inc (UBER)

Financial charts

Financial statements

Owners

Insider buys & sells

Community posts

It’s quiet here.