Stock Analysis on Net
Stock Analysis on Net

Uber Technologies Inc. (NYSE:UBER)

$24.99

Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Uber Technologies Inc., consolidated cash flow statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income (loss) including non-controlling interests
Depreciation and amortization
Bad debt expense
Stock-based compensation
(Gain) loss from sale of investments
Gain on business divestitures
Deferred income taxes
Accretion of discounts on marketable debt securities, net
Impairment of debt and equity securities
Impairments of goodwill, long-lived assets and other assets
Impairment of equity method investment
(Income) loss from equity method investments, net
Unrealized (gain) loss on debt and equity securities, net
Revaluation of MLU B.V. call option
Unrealized foreign currency transactions
Other
Accounts receivable
Prepaid expenses and other assets
Collateral held by insurer
Operating lease right-of-use assets
Accounts payable
Accrued insurance reserves
Accrued expenses and other liabilities
Operating lease liabilities
Change in assets and liabilities, net of impact of business acquisitions and disposals
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Net cash provided by (used in) operating activities
Purchases of property and equipment
Purchases of non-marketable equity securities
Purchases of marketable securities
Proceeds from sale of non-marketable equity securities
Proceeds from maturities and sales of marketable securities
Proceeds from sale of equity method investments
Proceeds from business divestiture
Acquisition of businesses, net of cash acquired
Return of capital from equity method investee
Purchase of notes receivables
Other investing activities
Net cash used in investing activities
Proceeds from issuance and sale of subsidiary stock units
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan
Issuance of term loan and notes, net of issuance costs
Purchase of Capped Calls
Principal repayment on term loan and notes
Principal repayment on Careem Notes
Principal payments on finance leases
Repurchases of common stock
Redemption of non-controlling interests
Other financing activities
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents
Net increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents
Cash and cash equivalents, and restricted cash and cash equivalents, beginning of period
Reclassification from (to) assets held for sale during the period
Cash and cash equivalents, and restricted cash and cash equivalents, end of period, excluding cash classified within assets held for sale

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).

Net Income (Loss) Including Non-Controlling Interests
The company experienced significant volatility in net income over the period. An initial substantial loss of $6,788 million was recorded in 2020, improving markedly to a loss of $570 million in 2021. However, losses worsened sharply again in 2022 at $9,138 million. The trend reversed in 2023 and 2024 with positive net income of $2,156 million and $9,845 million respectively, indicating a robust recovery and improved profitability.
Depreciation and Amortization
This expense increased from $575 million in 2020 to a peak of $947 million in 2022, then declined to $737 million by 2024. This pattern suggests significant capital investments or asset additions up to 2022, followed by a reduction in related depreciation charges.
Stock-Based Compensation
Stock-based compensation steadily increased from $827 million in 2020 to $1,935 million in 2023 before a slight decline to $1,796 million in 2024, reflecting ongoing reliance on equity incentives for employee compensation.
Impairments and Related Income Adjustments
There were noteworthy impairments, including goodwill and asset impairments that were relatively high in 2020 ($404 million), declined sharply by 2022, and were minimal thereafter. Impairment of debt and equity securities was material in 2020 at $1,690 million but absent in subsequent years. The unrealized gains and losses on securities showed extreme variability, indicating significant volatility in investment valuations.
Changes in Working Capital
Key working capital components such as accounts receivable and prepaid expenses fluctuated, with receivables showing negative values in later years, possibly reflecting collection patterns or write-offs. Accrued insurance reserves and accrued expenses increased notably, indicating rising liabilities and obligations.
Cash Flow from Operating Activities
Operating cash flows showed strong improvement from negative $2,745 million in 2020 to positive $7,137 million in 2024, evidencing enhanced operational cash generation and an improving business foundation.
Investing Activities
Investing cash flows remained negative throughout, with investments in marketable securities peaking at $12,765 million in 2024, substantially higher than prior years. Proceeds from sales and maturities of marketable securities also increased significantly in the last two years, indicating active portfolio management and liquidity strategy.
Financing Activities
The company’s financing cash flows were positive in 2020 and 2021 but turned negative later, especially in 2024 with $2,087 million outflow, driven by debt repayments, repurchase of common stock ($1,252 million in 2024), and redemption of non-controlling interests. New debt issuances were substantial in 2023 and 2024, offset partially by repayments.
Liquidity Position
Cash and cash equivalents declined sharply in 2020 but recovered thereafter, reaching $8,610 million by the end of 2024. The net increase in cash flow was positive in 2023 and 2024, supported by improved operating cash flows and prudent investing activities despite ongoing financing outflows.
Overall Financial Trends
The company exhibited considerable income volatility with a major turnaround to profitability in recent years. Operating cash flow improvements reflect stronger business fundamentals, although the reliance on equity compensation and investment portfolio adjustments remain significant. The financing strategy shifted from net positive inflows to outflows, aligned with debt repayment and shareholder return initiatives. Asset and liability management reflected growing accrued reserves and changing working capital dynamics, suggesting a maturing and possibly stabilizing enterprise.