Price to Operating Profit (P/OP)
since 2019
Calculation
Uber Technologies Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income (loss) from operations1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 14, 2025 | 59.27 | = | 79.42 | ÷ | 1.34 | 1.34 | = | 2,799 | ÷ | 2,089,008,865 | |
| Feb 15, 2024 | 152.26 | = | 81.39 | ÷ | 0.53 | 0.53 | = | 1,110 | ÷ | 2,076,497,400 | |
| Feb 21, 2023 | — | = | 34.20 | ÷ | -0.91 | -0.91 | = | -1,832 | ÷ | 2,009,907,175 | |
| Feb 24, 2022 | — | = | 34.87 | ÷ | -1.96 | -1.96 | = | -3,834 | ÷ | 1,954,464,088 | |
| Mar 1, 2021 | — | = | 54.40 | ÷ | -2.62 | -2.62 | = | -4,863 | ÷ | 1,858,167,579 | |
| Mar 2, 2020 | — | = | 32.85 | ÷ | -4.99 | -4.99 | = | -8,596 | ÷ | 1,723,775,076 |
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), 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 financial data over the periods indicate distinct trends in the share price and operating profit per share of the company. The share price experienced significant fluctuations, starting at $32.85 in 2020, increasing sharply to $54.40 in 2021, then declining notably to $34.87 in 2022 and remaining relatively stable around $34.20 in 2023. A substantial increase occurred again in 2024, reaching $81.39, followed by a slight decrease to $79.42 in 2025.
Operating profit per share shows a consistent improvement over the years. Initially negative at -$4.99 in 2020, it improved steadily year-over-year, reducing the loss to -$2.62 in 2021, -$1.96 in 2022, and -$0.91 in 2023. Notably, the figure turned positive in 2024 at $0.53, further rising to $1.34 in 2025, indicating a turnaround towards operating profitability on a per-share basis.
The price-to-operating-profit (P/OP) ratio is only available for the last two years, with an elevated value of 152.26 in 2024 and a decrease to 59.27 in 2025. These high ratios suggest that the market's valuation relative to operating profit per share was substantial, possibly reflecting investor expectations of continued growth or improvement in profitability.
- Share Price Trend
- Fluctuated significantly, with notable peaks in 2021 and 2024 and relative stability in mid-periods.
- Operating Profit Per Share
- Improved consistently from negative territory to positive values, indicating enhanced operational efficiency or profitability.
- Price-to-Operating-Profit Ratio
- Extremely high in recent periods, potentially reflecting elevated market expectations or premium valuation despite modest operating profits.
Comparison to Competitors
Uber Technologies Inc., P/OP, long-term trends, comparison to competitors
| Uber Technologies Inc. | FedEx Corp. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|
| Feb 14, 2025 | 59.27 | 13.40 | 15.06 | 5.92 | 11.64 |
| Feb 15, 2024 | 152.26 | 13.03 | 16.75 | 3.54 | 13.86 |
| Feb 21, 2023 | — | 9.07 | 12.68 | 6.86 | 11.70 |
| Feb 24, 2022 | — | 13.46 | 16.53 | — | 14.20 |
| Mar 1, 2021 | — | 17.79 | 17.46 | — | 18.23 |
| Mar 2, 2020 | — | 9.92 | 14.83 | 4.07 | 11.72 |
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), 10-K (reporting date: 2019-12-31).