Price to Book Value (P/BV)
since 2019
Calculation
Uber Technologies Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Uber Technologies, Inc. stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 13, 2026 | 5.33 | = | 69.99 | ÷ | 13.14 | 13.14 | = | 27,041 | ÷ | 2,058,115,983 | |
| Feb 14, 2025 | 7.70 | = | 79.42 | ÷ | 10.32 | 10.32 | = | 21,558 | ÷ | 2,089,008,865 | |
| Feb 15, 2024 | 15.02 | = | 81.39 | ÷ | 5.42 | 5.42 | = | 11,249 | ÷ | 2,076,497,400 | |
| Feb 21, 2023 | 9.36 | = | 34.20 | ÷ | 3.65 | 3.65 | = | 7,340 | ÷ | 2,009,907,175 | |
| Feb 24, 2022 | 4.71 | = | 34.87 | ÷ | 7.40 | 7.40 | = | 14,458 | ÷ | 1,954,464,088 | |
| Mar 1, 2021 | 8.24 | = | 54.40 | ÷ | 6.60 | 6.60 | = | 12,266 | ÷ | 1,858,167,579 | |
| Mar 2, 2020 | 3.99 | = | 32.85 | ÷ | 8.23 | 8.23 | = | 14,190 | ÷ | 1,723,775,076 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Uber Technologies Inc. Annual Report.
The price-to-book value (P/BV) ratio has exhibited considerable fluctuation between 2020 and 2026. Initial observations reveal a period of volatility followed by a more recent stabilization and then decline.
- Overall Trend
- From 2020 to 2024, the P/BV ratio generally increased, although not consistently. It peaked in 2024 before declining in the subsequent two years. The ratio moved from 3.99 in 2020 to a high of 15.02 in 2024, then decreased to 5.33 by 2026.
- Early Period (2020-2022)
- The P/BV ratio initially increased from 3.99 in 2020 to 8.24 in 2021, representing a significant rise. However, it then decreased to 4.71 in 2022, indicating a potential correction or shift in market sentiment. This period demonstrates initial investor optimism followed by a moderation in valuation relative to book value.
- Significant Increase (2023-2024)
- A substantial increase in the P/BV ratio is observed between 2023 and 2024, moving from 9.36 to 15.02. This suggests a considerable re-evaluation of the company’s worth relative to its book value during this timeframe. This could be attributed to improved market expectations regarding future profitability or growth prospects.
- Recent Decline (2025-2026)
- The P/BV ratio experienced a decline in the latter part of the period, decreasing from 7.70 in 2025 to 5.33 in 2026. This suggests a potential cooling of investor enthusiasm or a reassessment of the company’s fundamentals. The decrease could also reflect broader market conditions or industry-specific challenges.
- Relationship to Book Value per Share
- The fluctuations in the P/BV ratio are influenced by both changes in share price and book value per share. While the share price increased significantly between 2023 and 2024, the book value per share also increased, but at a slower rate. The subsequent decline in P/BV from 2024 to 2026 is partially attributable to the share price decreasing, while the book value per share continued to increase.
In summary, the P/BV ratio demonstrates a dynamic pattern over the observed period, characterized by initial growth, a peak in 2024, and a subsequent decline. These changes appear to be linked to both market sentiment and underlying changes in the company’s book value and share price.
Comparison to Competitors
Uber Technologies Inc., P/BV, long-term trends, comparison to competitors
| Uber Technologies Inc. | FedEx Corp. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| Feb 13, 2026 | 5.33 | 1.90 | 8.12 | — | 6.04 |
| Feb 14, 2025 | 7.70 | 2.70 | 8.66 | 2.38 | 5.90 |
| Feb 15, 2024 | 15.02 | 2.45 | 10.29 | 1.60 | 7.32 |
| Feb 21, 2023 | 9.36 | 2.27 | 10.34 | 2.32 | 7.75 |
| Feb 24, 2022 | 4.71 | 3.26 | 10.90 | 3.06 | 12.76 |
| Mar 1, 2021 | 8.24 | 2.35 | 8.07 | 2.85 | 213.26 |
| Mar 2, 2020 | 3.99 | 2.49 | 7.00 | 1.52 | 27.98 |
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., P/BV, long-term trends, comparison to sector (transportation)
| Uber Technologies Inc. | Transportation | |
|---|---|---|
| Feb 13, 2026 | 5.33 | — |
| Feb 14, 2025 | 7.70 | 5.40 |
| Feb 15, 2024 | 15.02 | 6.69 |
| Feb 21, 2023 | 9.36 | 5.91 |
| Feb 24, 2022 | 4.71 | 6.92 |
| Mar 1, 2021 | 8.24 | 8.09 |
| Mar 2, 2020 | 3.99 | 5.19 |
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., P/BV, long-term trends, comparison to industry (industrials)
| Uber Technologies Inc. | Industrials | |
|---|---|---|
| Feb 13, 2026 | 5.33 | — |
| Feb 14, 2025 | 7.70 | 6.68 |
| Feb 15, 2024 | 15.02 | 6.85 |
| Feb 21, 2023 | 9.36 | 5.50 |
| Feb 24, 2022 | 4.71 | 5.44 |
| Mar 1, 2021 | 8.24 | 5.89 |
| Mar 2, 2020 | 3.99 | 6.28 |
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).