Stock Analysis on Net

Uber Technologies Inc. (NYSE:UBER)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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Uber Technologies Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents
Short-term investments
Restricted cash and cash equivalents
Accounts receivable, net of allowance
Prepaid expenses and other current assets
Current assets
Restricted cash and cash equivalents
Restricted investments
Collateral held by insurer
Investments
Equity method investments
Property and equipment, net
Operating lease right-of-use assets
Intangible assets, net
Goodwill
Deferred tax assets
Other assets
Non-current assets
Total assets

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


The asset structure exhibits a significant transition from a high concentration of general investments and goodwill toward a balance sheet characterized by increased restricted assets and the emergence of substantial deferred tax assets. While current assets generally fluctuate between 21% and 32% of the total asset base, the composition of non-current assets has undergone a fundamental reallocation over the analyzed period.

Liquidity and Current Asset Trends
Cash and cash equivalents have remained a primary component of current assets, though they show a gradual declining trend from a peak of 17.57% in September 2021 to 9.28% by March 2026. Accounts receivable, net of allowance, experienced a notable increase from approximately 3% in early 2021 to a peak of 9.36% in March 2023, before stabilizing in the 6% to 7% range. Short-term investments remained negligible for several periods, peaked at 6.18% in June 2024, and subsequently contracted to under 1%.
Investment Strategy and Restricted Assets
A stark divergence is observed in investment allocation. General investments, which constituted 34% to 38% of total assets in early 2021, declined sharply to between 13% and 16% by 2024 and 2025. Conversely, restricted investments emerged as a significant asset class starting in late 2022, growing from 5.03% in December 2022 to 15.07% by March 2026. This suggests a strategic shift toward locked or collateralized capital rather than liquid market investments.
Intangible Assets and Goodwill Evolution
Goodwill experienced a period of expansion, peaking at 26.95% in June 2022, followed by a steady decline to 14.89% by March 2026. A similar downward trajectory is observed in intangible assets, net, which fell from 4.20% in March 2021 to 1.65% by March 2026. These trends indicate either the amortization of intangible assets, impairment of goodwill, or an increase in the total asset base that dilutes the relative weight of these items.
Deferred Tax Assets and Long-term Positioning
A critical shift in the balance sheet occurred starting in December 2024 with the introduction of deferred tax assets. This item grew rapidly from 12.04% in December 2024 to 18.11% by March 2026. This emergence coincides with the period of declining goodwill and restricted investment growth, contributing to the overall increase in non-current assets, which rose to 78.59% of the total balance sheet by the final period of analysis.
Fixed and Operational Assets
Property and equipment, net, along with operating lease right-of-use assets, have both seen a consistent reduction in their relative weight. Property and equipment declined from 5.07% to 3.08%, while lease assets fell from 3.66% to 2.43%. This indicates a decreasing reliance on physical infrastructure and leased assets relative to the total scale of the company's assets.