Debt to Equity
since 2019
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Uber Technologies Inc. pages available for free this week:
- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Current Ratio since 2019
- Total Asset Turnover since 2019
- Price to Book Value (P/BV) since 2019
- Aggregate Accruals
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Calculation
Uber Technologies Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt, net of current portion1 | ÷ | Total Uber Technologies, Inc. stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | = | ÷ | |||
| Dec 31, 2024 | = | ÷ | |||
| Dec 31, 2023 | = | ÷ | |||
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31).
1 US$ in millions
The debt to equity ratio for the analyzed period demonstrates considerable fluctuation. Initially, the ratio increased before declining to levels observed earlier in the period. Long-term debt remained relatively stable for several years before increasing again towards the end of the analyzed timeframe, while stockholders’ equity experienced more significant volatility.
- Debt to Equity Ratio - Overall Trend
- The debt to equity ratio began at 0.40 in 2019 and increased to 0.62 in 2020 and 0.64 in 2021. A substantial increase was then observed in 2022, reaching 1.26. Subsequently, the ratio decreased to 0.84 in 2023 and further declined to 0.39 in both 2024 and 2025, indicating a significant reduction in leverage relative to equity.
- Long-Term Debt
- Long-term debt exhibited an increasing trend from US$5,707 million in 2019 to US$9,276 million in 2021. It remained relatively consistent at US$9,265 million in 2022 and US$9,459 million in 2023. A decrease to US$8,347 million was noted in 2024, followed by an increase to US$10,521 million in 2025.
- Total Stockholders’ Equity
- Total stockholders’ equity decreased from US$14,190 million in 2019 to US$12,266 million in 2020. It then recovered to US$14,458 million in 2021 before experiencing a substantial decline to US$7,340 million in 2022. A recovery was observed in 2023, reaching US$11,249 million, and continued with increases to US$21,558 million in 2024 and US$27,041 million in 2025.
The significant decrease in the debt to equity ratio in 2024 and 2025 is primarily attributable to the substantial growth in stockholders’ equity, outpacing the increase in long-term debt. The peak in the ratio in 2022 coincided with a considerable reduction in stockholders’ equity, while debt remained relatively stable. These shifts suggest changes in the company’s capital structure and financing strategies over the analyzed period.
Comparison to Competitors
Uber Technologies Inc., debt to equity, long-term trends, comparison to competitors
| Uber Technologies Inc. | FedEx Corp. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2025 | |||||
| Dec 31, 2024 | |||||
| Dec 31, 2023 | |||||
| Dec 31, 2022 | |||||
| Dec 31, 2021 | |||||
| Dec 31, 2020 | |||||
| Dec 31, 2019 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31).
Comparison to Sector (Transportation)
Uber Technologies Inc., debt to equity, long-term trends, comparison to sector (transportation)
| Uber Technologies Inc. | Transportation | |
|---|---|---|
| Dec 31, 2025 | ||
| Dec 31, 2024 | ||
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31).
Comparison to Industry (Industrials)
Uber Technologies Inc., debt to equity, long-term trends, comparison to industry (industrials)
| Uber Technologies Inc. | Industrials | |
|---|---|---|
| Dec 31, 2025 | ||
| Dec 31, 2024 | ||
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31).