Uber Technologies Inc. (NYSE:UBER)

Total Asset Turnover

The reported total asset turnover exhibited a significant upward trend from 0.33 in 2020 to a peak of 0.99 in 2022, indicating an improvement in the efficiency of asset utilization. This was followed by a slight decline to 0.86 by 2024. The adjusted figures mirror this trend closely, with a marginally higher peak of 1.00 in 2022 and a relatively stable level near 0.97 during 2023 and 2024, suggesting consistent asset productivity after adjustments.

Current Ratio

The reported current ratio declined from 1.44 in 2020 to below 1 in 2021 (0.98), indicating reduced short-term liquidity. However, it recovered gradually to 1.19 in 2023 before slightly decreasing to 1.07 in 2024. The adjusted current ratio follows the same pattern, with values closely aligned to the reported ones, suggesting improved working capital management following the low in 2021.

Debt to Equity

The reported debt to equity ratio nearly doubled from 0.64 in 2020 to 1.32 in 2022, signifying increased leverage and potentially higher financial risk. This ratio decreased sharply thereafter, falling to 0.45 by 2024, indicating a reduction in reliance on debt financing. Adjusted debt to equity figures exhibit a similar pattern but show somewhat higher leverage levels in 2022 and 2024, with a final adjusted ratio of 0.70.

Debt to Capital

The reported debt to capital ratio trended upward from 0.39 in 2020 to 0.57 in 2022, supporting the observation of increased leverage during this period. This was followed by a decline to 0.31 by 2024. Adjusted ratios mirror the trend but remain consistently higher than the reported figures, ending at 0.41 in 2024, indicating that the company maintained a moderately conservative capital structure after adjustments.

Financial Leverage

Reported financial leverage rose sharply from 2.71 in 2020 to a high of 4.37 in 2022, consistent with the increase in debt ratios. It then declined steadily, reaching 2.38 by 2024, signaling deleveraging efforts. Adjusted financial leverage followed a similar course, although levels remained somewhat lower overall, concluding at 2.75 in 2024.

Net Profit Margin

Reported net profit margin demonstrated considerable volatility, starting at a substantial loss of -60.76% in 2020, improving dramatically to a loss of -2.84% in 2021, and then deteriorating again to -28.68% in 2022. Notably, profitability reversed in 2023, with a positive margin of 5.06% and further improvement to 22.41% in 2024. Adjusted net profit margins reflect a similar pattern but show less pronounced profitability gains in 2023 and 2024, peaking at 8.47% in 2024.

Return on Equity (ROE)

The reported return on equity followed a pattern consistent with net profit margins, recording significant losses of -55.18% in 2020, a modest loss in 2021, and an extreme negative value of -124.54% in 2022. The metric then improved substantially to 16.77% in 2023, and further to 45.72% in 2024, indicating a strong recovery in shareholder returns. Adjusted ROE exhibits similar volatility but with lower peak positivity, reaching 22.71% in 2024.

Return on Assets (ROA)

The reported return on assets moved from a negative -20.35% in 2020 and -1.28% in 2021 to a deeper loss of -28.47% in 2022, before turning positive at 4.88% in 2023 and sharply rising to 19.23% in 2024. Adjusted ROA shows the same trend but with more conservative figures, ending at 8.25% in 2024.

Revenue

Revenue exhibits a consistent upward trajectory throughout the observed periods. Starting at 11,139 million US dollars in 2020, revenue increased substantially each year, reaching 17,455 million in 2021, then nearly doubling to 31,877 million in 2022. The positive trend continued with revenue rising to 37,281 million in 2023 and further to 43,978 million in 2024. This pattern indicates strong and sustained growth over the five-year span.

Total Assets

Total assets showed a fluctuating pattern over the periods. Initially, assets increased from 33,252 million US dollars in 2020 to 38,774 million in 2021. However, in 2022, total assets declined to 32,109 million, before recovering to 38,699 million in 2023. Finally, a significant rise to 51,244 million is observed in 2024. This volatility suggests adjustments in asset management or investment strategies during the intermediate years, followed by a marked increase in the latest period.

Reported Total Asset Turnover

The reported total asset turnover ratio, which measures revenue generated per unit of total assets, improved markedly between 2020 and 2022, moving from 0.33 to 0.99. This indicates enhanced efficiency in utilizing assets to generate sales. In 2023, the ratio decreased slightly to 0.96 and dropped further to 0.86 in 2024, though it remains well above the starting point. This decline could imply relatively faster growth in assets compared to revenue in the last two years or slight diminution in asset efficiency.

Adjusted Total Assets

Adjusted total assets closely mirror the trend of reported total assets with minor differences in values. After increasing from 33,268 million in 2020 to 38,763 million in 2021, adjusted assets decreased to 32,023 million in 2022 and rose back to 38,620 million in 2023. In 2024, adjusted assets increased significantly to 45,168 million. The pattern suggests similar adjustments or recalculations influencing asset valuations, with a strong increase in the final year.

Adjusted Total Asset Turnover

The adjusted total asset turnover ratio improves significantly from 0.33 in 2020 to 1 in 2022, indicating a peak in asset efficiency. It remains relatively stable with a slight decrease to 0.97 in 2023 and maintains this level in 2024. The stability at a high turnover rate suggests sustained efficient management of adjusted assets during recent years, despite the substantial increase in asset base.

The analysis of the annual financial data reveals several notable trends regarding the liquidity position over the examined periods.

Current Assets

Current assets started at 9,882 million USD at the end of 2020, decreased to 8,819 million USD by the end of 2021, then showed a recovery and growth trend, reaching 9,249 million USD in 2022, and rising further to 11,297 million USD in 2023, and 12,245 million USD in 2024. This indicates an overall improvement in short-term asset holdings after a decline in 2021.

Current Liabilities

Current liabilities increased consistently over the years from 6,865 million USD in 2020 to 9,024 million USD in 2021, followed by slight fluctuations with 8,853 million USD in 2022, then rising again to 9,454 million USD in 2023 and significantly increasing to 11,476 million USD in 2024. This upward trend in liabilities suggests an increased obligation within the current period.

Reported Current Ratio

The reported current ratio, which assesses the company's ability to cover short-term obligations with short-term assets, started at a healthy 1.44 in 2020. It declined sharply to below 1.00 in 2021 at 0.98, indicating a period where current liabilities exceeded current assets. It improved to 1.04 in 2022, rose further to 1.19 in 2023, but fell again to 1.07 in 2024, showing some variability but overall improvement since 2021.

Adjusted Current Assets

The adjusted current assets follow a pattern similar to current assets, starting at 9,937 million USD in 2020, decreasing to 8,870 million USD in 2021, then increasing steadily to 9,329 million USD in 2022, 11,388 million USD in 2023, and 12,340 million USD in 2024. The adjusted values slightly exceed the reported totals, implying some reassessment or reclassification of assets.

Adjusted Current Ratio

The adjusted current ratio mirrors the reported current ratio closely, starting at 1.45 in 2020, dropping to 0.98 in 2021, increasing to 1.05 in 2022, further improving to 1.20 in 2023, and slightly declining to 1.08 in 2024. This trend confirms the fluctuations seen in liquidity but recognizes a general recovery after the dip in 2021.

In summary, the data highlights a liquidity constraint experienced in 2021, characterized by reduced current assets and increased current liabilities resulting in a current ratio below 1.00. Subsequently, there was a recovery and strengthening of the liquidity position through 2023. However, the slight decline in the current ratio in 2024, despite continued growth in current assets, is attributable to a more pronounced increase in current liabilities. Adjusted figures support these observations, indicating consistent underlying asset value adjustments. Overall, the company demonstrates improving liquidity resilience after the low point in 2021, although ongoing attention to managing current liabilities would be prudent.

Total Debt

The total debt increased steadily from 7,884 million US dollars in 2020 to a peak of 9,962 million US dollars in 2023, followed by a slight decrease to 9,807 million US dollars in 2024. This indicates a general upward trend in the company's debt level over the five-year period, with minor deleveraging at the end.

Total Stockholders’ Equity

Stockholders’ equity grew from 12,266 million US dollars in 2020 to 14,458 million US dollars in 2021, then sharply declined to 7,340 million US dollars in 2022. Subsequently, it rebounded significantly, reaching 11,249 million US dollars in 2023 and further rising to 21,558 million US dollars in 2024. This pattern reflects volatility, with a marked recovery and strong equity growth towards the end of the period.

Reported Debt to Equity Ratio

The reported debt to equity ratio remained relatively stable around 0.64-0.66 in 2020 and 2021, but it nearly doubled to 1.32 in 2022, reflecting the steep drop in equity combined with sustained high debt. Following the 2022 peak, the ratio improved to 0.89 in 2023 and further decreased to 0.45 in 2024, suggesting a stronger equity base relative to debt in the latest year.

Adjusted Total Debt

Adjusted total debt rose from 9,603 million US dollars in 2020 to 11,702 million US dollars in 2023, then slightly decreased to 11,436 million US dollars in 2024. This trend is consistent with total debt, showing growth in debt obligations with a marginal reduction towards the period end.

Adjusted Total Equity

Adjusted total equity increased from 14,591 million US dollars in 2020 to 15,704 million US dollars in 2021, before declining sharply to 8,445 million US dollars in 2022. It then demonstrated a recovery to 12,657 million US dollars in 2023 and further growth to 16,408 million US dollars in 2024. This mirrors the volatility observed in the reported equity figures but with more moderate movements.

Adjusted Debt to Equity Ratio

The adjusted debt to equity ratio rose from 0.66 in 2020 to a peak of 1.37 in 2022, indicating increased leverage due to the equity decline. Subsequently, it improved to 0.92 in 2023 and further to 0.70 in 2024, demonstrating a gradual deleveraging as equity recovered and debt stabilized.

The financial data reveals several noteworthy trends in the company's capital structure and debt levels over the five-year period.

Total Debt

The total debt exhibited a general upward trend from 7,884 million USD in 2020 to a peak of 9,962 million USD in 2023, before slightly decreasing to 9,807 million USD in 2024. This indicates an overall increase in the company's borrowing, with some stabilization in the most recent year.

Total Capital

Total capital rose from 20,150 million USD in 2020 to 23,995 million USD in 2021 but then decreased significantly to 17,031 million USD in 2022. Thereafter, it rebounded to 21,211 million USD in 2023, followed by a substantial increase to 31,365 million USD in 2024, suggesting enhanced financial capacity or equity infusion in the last year.

Reported Debt to Capital Ratio

This ratio increased from 0.39 in 2020 to a high of 0.57 in 2022, reflecting a higher reliance on debt relative to capital during this period. However, it declined thereafter to 0.47 in 2023 and further to 0.31 in 2024, indicating a reduced leverage and potentially a healthier capital structure in the latest years.

Adjusted Total Debt

The adjusted total debt values show a similar pattern to total debt, starting at 9,603 million USD in 2020, peaking at 11,702 million USD in 2023, and slightly falling to 11,436 million USD in 2024. This consistency suggests the adjustments maintain the general trend of increasing debt with minor decline in the last year.

Adjusted Total Capital

Adjusted total capital increased from 24,194 million USD in 2020 to 27,070 million USD in 2021, then sharply declined to 20,010 million USD in 2022. It subsequently rose again to 24,359 million USD in 2023 and 27,844 million USD in 2024, showing volatility but an overall upward movement in the latter years.

Adjusted Debt to Capital Ratio

Reflecting the above trends, the adjusted debt to capital ratio increased from 0.40 in 2020 to 0.58 in 2022, indicating higher leverage in that year. This ratio then improved to 0.48 in 2023 and further to 0.41 in 2024, demonstrating a notable reduction in leverage and a trend toward a more balanced debt-capital mix.

In summary, the company experienced an increasing debt burden and leverage ratios up to 2022, followed by a period of deleveraging and capital strengthening through 2023 and 2024. The reduction in both reported and adjusted debt-to-capital ratios in the latest years suggests a strategic shift towards lower financial risk and enhanced capital adequacy.

The analysis of the financial data over the five-year period reveals several notable trends in the company's asset base, equity position, and financial leverage ratios.

Total Assets

The total assets showed a generally increasing trend with fluctuations. From 33,252 million USD in 2020, the assets increased to 38,774 million USD in 2021, then declined to 32,109 million USD in 2022, followed by a recovery to 38,699 million USD in 2023, and a significant increase to 51,244 million USD by 2024. This pattern indicates periods of asset reduction but overall substantial growth in the asset base by the end of the period.

Total Stockholders’ Equity

The total stockholders’ equity increased from 12,266 million USD in 2020 to 14,458 million USD in 2021 but then experienced a sharp decline to 7,340 million USD in 2022. Equity rebounded to 11,249 million USD in 2023 and further increased significantly to 21,558 million USD in 2024, suggesting an improvement in the company's net worth and potentially successful capital raising or enhanced profitability in the last year.

Reported Financial Leverage (ratio)

The reported financial leverage ratio started at 2.71 in 2020 and remained relatively stable at 2.68 in 2021. It then increased markedly to 4.37 in 2022, indicating higher leverage and greater use of debt relative to equity. In subsequent years, the leverage decreased to 3.44 in 2023 and further down to 2.38 in 2024, approaching levels similar to the start of the period, reflecting deleveraging efforts or improved equity levels.

Adjusted Total Assets

The adjusted total assets closely followed the pattern of reported total assets, starting at 33,268 million USD in 2020, increasing to 38,763 million USD in 2021, declining to 32,023 million USD in 2022, then recovering to 38,620 million USD in 2023 and increasing to 45,168 million USD in 2024. The adjusted figures are slightly lower than reported totals in the last year, suggesting some revaluation or adjustment factors impacting asset valuation.

Adjusted Total Equity

Adjusted total equity mirrored the reported equity trend but with consistently higher values. It started at 14,591 million USD in 2020, rose to 15,704 million USD in 2021, then dropped sharply to 8,445 million USD in 2022. The adjusted equity increased to 12,657 million USD in 2023 and reached 16,408 million USD in 2024. This indicates that adjustments may reduce volatility or reflect more conservative equity valuations.

Adjusted Financial Leverage (ratio)

The adjusted leverage ratio began at 2.28 in 2020 and increased to 2.47 in 2021, before rising sharply to 3.79 in 2022. Following that, it decreased to 3.05 in 2023 and further to 2.75 in 2024. The trend aligns with reported leverage but at consistently lower levels, reflecting the impact of adjustments which moderate leverage measurements.

Overall, the financial data suggest a period of volatility around 2022, with declines in asset and equity values and a rise in financial leverage, indicating increased risk during that year. However, the subsequent years show recovery in both asset and equity positions accompanied by a reduction in leverage, signaling strengthening financial stability. The significant growth in total assets and stockholders’ equity by 2024 implies robust capital expansion and improved financial health heading into the latest period.

The financial data reveals significant fluctuations in Uber Technologies Inc.'s profitability and revenue over the analyzed periods.

Net Income (Loss) Attributable to Uber Technologies, Inc.

The net income exhibits high volatility, with a substantial loss of -6,768 million USD in 2020, markedly improving to a minimal loss of -496 million USD in 2021. However, 2022 saw a sharp decline back to a significant loss of -9,141 million USD. Notably, the trend reverses in 2023 and 2024 with positive net incomes of 1,887 million USD and 9,856 million USD, respectively, indicating a strong recovery and profitable growth.

Revenue

Revenue demonstrates a consistent upward trend annually, increasing from 11,139 million USD in 2020 to 43,978 million USD in 2024. This nearly fourfold growth over five years suggests robust top-line expansion.

Reported Net Profit Margin

The reported net profit margin trends align with the net income figures, starting with a significant negative margin of -60.76% in 2020, improving drastically in 2021 to -2.84%, then deteriorating to -28.68% in 2022. From 2023 onward, margins turn positive, reaching 5.06% in 2023 and surging to 22.41% in 2024, reflecting enhanced operational efficiency and profitability.

Adjusted Net Income (Loss) Including Non-controlling Interests

Adjusted net income mirrors the volatility seen in reported net income but with consistently higher losses in earlier years. The adjustments reveal losses of -7,378 million USD in 2020 and -1,257 million USD in 2021, peaking at -9,470 million USD in 2022 before turning positive in 2023 (2,215 million USD) and rising to 3,726 million USD in 2024. This suggests that non-operational factors impacted results significantly in earlier years.

Adjusted Net Profit Margin

Corresponding adjusted net profit margins follow a similar pattern with negative margins of -66.24% in 2020 and -7.2% in 2021, declining further to -29.71% in 2022. Positive margins emerge in later years, reaching 5.94% in 2023 and improving to 8.47% in 2024. Although positive, these margins remain below the reported profit margins, indicating some differences in adjustments between reported and adjusted earnings.

Overall, the data depict a company that underwent significant financial challenges up to 2022, characterized by large losses despite increasing revenues. However, a marked turnaround occurs in 2023 and 2024, with strong revenue growth coupling with improved profitability metrics, signaling effective cost management and operational improvements. The disparity between reported and adjusted net incomes and margins highlights the impact of non-recurring or non-operational items on the company's financial performance during the earlier years.

Net Income (Loss) Attributable to Uber Technologies, Inc.

The net income showed substantial volatility over the five-year period. In 2020, there was a significant loss of -$6,768 million, which improved dramatically in 2021 to a loss of -$496 million. However, 2022 saw a sharp deterioration with net losses increasing to -$9,141 million. Subsequently, 2023 marked a positive turnaround with a profit of $1,887 million, further growing to $9,856 million in 2024. This indicates a recovery trend with profitability achieved in the last two years.

Total Stockholders’ Equity

Stockholders’ equity rose from $12,266 million in 2020 to $14,458 million in 2021, followed by a decline to $7,340 million in 2022. The equity position rebounded in 2023 to $11,249 million and exhibited substantial growth reaching $21,558 million in 2024. Despite the dip in 2022, the overall trend shows a strengthening equity base towards the end of the period.

Reported Return on Equity (ROE)

The reported ROE mirrors the fluctuations seen in net income, beginning at a highly negative -55.18% in 2020 and improving to -3.43% in 2021. It then fell sharply to -124.54% in 2022, indicating significant inefficiencies or losses relative to equity. The company returned to positive ROE figures in 2023 with 16.77%, increasing further to 45.72% in 2024, reflecting growing profitability and effective equity utilization.

Adjusted Net Income (Loss) Including Non-Controlling Interests

Adjusted net income figures follow a similar pattern to reported net income with large losses in 2020 (-$7,378 million) and 2022 (-$9,470 million), while 2021 showed an intermediate loss (-$1,257 million). In contrast, 2023 and 2024 demonstrate positive adjusted net income, reaching $2,215 million and $3,726 million, respectively. Although profitability is evident in the last two years, adjusted earnings are more moderate compared to reported figures in 2024.

Adjusted Total Equity

The adjusted equity values increased from $14,591 million in 2020 to $15,704 million in 2021, then contracted to $8,445 million in 2022 before recovering to $12,657 million in 2023 and rising to $16,408 million in 2024. This pattern aligns with reported equity but suggests some adjustments reduced the equity base, particularly in 2022.

Adjusted Return on Equity (ROE)

Adjusted ROE maintains a pattern consistent with net income trends, starting at -50.57% in 2020, improving to -8.00% in 2021, followed by a sharp decline to -112.14% in 2022. The ratio turns positive in 2023 at 17.5% and climbs to 22.71% in 2024. Although positive in recent years, adjusted ROE remains lower than the reported ROE, indicating differences in profitability measurement after adjustments.

The financial performance over the analyzed period reveals significant volatility in profitability and asset base, with notable improvement in the most recent years.

Net Income (Loss) Attributable

Net income exhibited considerable fluctuations between 2020 and 2024. Initially, the company reported large losses in 2020 and 2022, with values of -6,768 million USD and -9,141 million USD respectively, indicating periods of substantial financial challenges. However, there was a marked turnaround starting in 2023 when net income became positive at 1,887 million USD, followed by a strong gain to 9,856 million USD in 2024. This suggests successful operational or financial restructuring leading to improved profitability.

Total Assets

Total assets showed a moderately cyclical pattern with growth and contraction phases. Assets increased from 33,252 million USD in 2020 to 38,774 million USD in 2021, then declined to 32,109 million USD by 2022. After 2022, assets grew again to 38,699 million USD in 2023 and further expanded to 51,244 million USD in 2024, indicating an expanding asset base in the latter years, potentially supporting the profitable turnaround.

Reported Return on Assets (ROA)

Reported ROA closely mirrored the net income trends, reflecting the efficiency of asset utilization in generating profits. Negative ROA values prevailed in 2020 (-20.35%) and 2022 (-28.47%), correlating with the significant net losses in those years. The ratio improved sharply in 2023 to 4.88%, turning positive for the first time in the observed period, and rose significantly to 19.23% in 2024, supporting the narrative of enhanced operational performance and asset productivity.

Adjusted Net Income (Loss) Including Non-controlling Interests

The adjusted net income figures followed a similar pattern to reported net income but generally depicted slightly more negative values in loss years and lower positive values in gain years. Losses decreased from -7,378 million USD in 2020 to -9,470 million USD in 2022, consistent with operational difficulties. A shift to positive adjusted net income occurred in 2023 (2,215 million USD) and improved further in 2024 (3,726 million USD). This adjustment indicates non-controlling interests’ impact but overall confirms the positive trend in profitability.

Adjusted Total Assets

Adjusted total assets were very close to reported total assets, showing some minor numerical differences which do not materially affect the overall trend. The adjusted assets declined from 33,268 million USD in 2020 to 32,023 million USD in 2022 and then increased to 38,620 million USD in 2023 and 45,168 million USD in 2024. This pattern aligns with the general asset trend, emphasizing an asset base expansion in recent years.

Adjusted Return on Assets (ROA)

The adjusted ROA remained negative for 2020 through 2022, with the worst figure in 2022 at -29.57%, indicating poor profitability relative to asset size during these years. A notable improvement is evident in 2023 (5.74%), followed by a positive but more moderate increase in 2024 to 8.25%. While positive, this adjusted ROA is lower than the reported ROA, suggesting that adjustments and non-controlling interests affect profitability ratios differently but confirm the general upward trend in performance.

In summary, the company experienced substantial losses in the early years, with the lowest profitability and asset efficiency reported in 2022. A significant reversal occurred starting in 2023, characterized by positive net income and increasing return on assets alongside growth in the asset base. The upward movement in both reported and adjusted financial indicators in the last two years reflects an improving financial health and operational efficiency, positioning the company in a stronger profitability trajectory moving forward.