Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Uber Technologies Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Current Ratio
- The current ratio exhibits a general decline from early 2020 through 2021, starting at 1.68 in March 2020 and decreasing to below 1.0 by December 2021. This suggests a reduction in the company's short-term liquidity during this period. In 2022, the ratio mostly stabilizes around the 1.0 mark, indicating a balanced level of current assets relative to current liabilities. From early 2023 onwards, a modest upward trend resumes, with the ratio increasing to approximately 1.4 by late 2024 before declining again slightly in 2025. The fluctuations during 2023 and 2024 suggest some variability in working capital management or asset-liability composition, but overall the current ratio remains near or above 1, signaling adequate liquidity.
- Quick Ratio
- The quick ratio demonstrates a pattern similar to the current ratio, starting relatively strong in early 2020 at around 1.49 but declining steadily through 2020 and 2021 to a low of approximately 0.82 by December 2021. This decline indicates a diminishing capacity to cover short-term obligations without relying on inventory. The quick ratio remains relatively flat in 2022 near the 0.83 to 0.88 range, showing stabilization at a lower level than the initial periods. In 2023 and early 2024, the ratio experiences some recovery, peaking above 1.2 in late 2024, suggesting improving liquidity coverage without inventories. However, the ratio falls again in 2025, reflecting increased reliance on less liquid current assets or growing current liabilities.
- Cash Ratio
- The cash ratio, which measures the highest liquidity level by considering only cash and cash equivalents, shows a steady decline from 1.39 in March 2020 down to as low as 0.55 in late 2021. This significant decrease points to a reduced cash buffer relative to current liabilities over this timeframe. During 2022, the cash ratio remains relatively low and stable, fluctuating between 0.55 and 0.61, indicating that cash availability remained modest. There is a moderate rebound in 2023, reaching up to 0.75, followed by slight fluctuations hovering between 0.6 and 0.69 through 2024. A notable increase to 0.92 occurs in late 2024, implying a temporary improvement in cash reserves relative to short-term obligations. Subsequently, the ratio declines again in 2025, signaling a decrease in liquid cash assets or an uptick in current liabilities.
- Overall Liquidity Trends
- Over the observed period, the liquidity ratios collectively reveal a trajectory of declining short-term liquidity from early 2020 through roughly 2021, followed by a phase of stabilization in 2022, and some recovery in 2023 and 2024. The sustained reduction in liquidity from 2020 to 2021 could reflect increased short-term obligations or strategic shifts in asset management. The modest rebound in the later years suggests attempts to strengthen working capital but accompanied by some volatility in cash availability and quick assets. The ratios consistently hover near or slightly above 1.0 after 2021, which generally indicates a cautious approach to liquidity management, ensuring sufficient assets to cover current liabilities without excessive cash holdings. Fluctuations noted in 2024 and 2025 may warrant attention to underlying operational or financing activities affecting liquidity positions.
Current Ratio
Uber Technologies Inc., current ratio calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Current assets | |||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Current ratio1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||
| FedEx Corp. | |||||||||||||||||||||||||||||
| Union Pacific Corp. | |||||||||||||||||||||||||||||
| United Airlines Holdings Inc. | |||||||||||||||||||||||||||||
| United Parcel Service Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets Trend
- The current assets displayed fluctuations over the observed periods. Initially, the value was high at 11,114 million US dollars in March 31, 2020, decreasing to a lower point of 7,783 million in June 30, 2021. Subsequently, there is a gradual recovery, peaking at 15,331 million US dollars by September 30, 2024, before a slight decline towards 14,107 million US dollars at June 30, 2025. Overall, current assets present a moderate upward trajectory, especially notable in the later periods.
- Current Liabilities Trend
- Current liabilities generally show a consistent upward trend throughout the timeline. Starting from 6,631 million US dollars in March 31, 2020, liabilities increased steadily, reaching 12,686 million US dollars by June 30, 2025. This represents nearly a doubling in current liabilities over the period, indicating increased short-term obligations.
- Current Ratio Analysis
- The current ratio, representing liquidity and short-term financial health, presents a more complex pattern. Initially, it started relatively strong at 1.68 in March 31, 2020, but then declined to as low as 0.98 by December 31, 2021 and June 30, 2022, indicating tight liquidity conditions. Following this, the ratio improved moderately, reaching a peak of 1.41 in September 30, 2024, suggesting improved ability to cover current liabilities with current assets in that period. However, it dipped again to around 1.02 by June 30, 2025, approaching the lower boundary of adequate liquidity. Throughout the period, the current ratio fluctuated mostly between 1.0 and 1.4, which can be considered marginally adequate but demands attention due to the volatility and the substantial increase in liabilities.
- Overall Financial Insights
- The data reveals a company experiencing increasing current liabilities alongside varying levels of current assets, resulting in fluctuating liquidity ratios. Although current assets showed growth over the longer term, the steady rise in current liabilities temper this positive aspect, making liquidity management critical. Periods with a current ratio below 1 signify potential short-term liquidity stress, while improvements observed in later periods suggest partial recovery or stronger asset management. Continuous monitoring of this balance is necessary to ensure sustainable financial health.
Quick Ratio
Uber Technologies Inc., quick ratio calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Cash and cash equivalents | |||||||||||||||||||||||||||||
| Short-term investments | |||||||||||||||||||||||||||||
| Restricted cash and cash equivalents | |||||||||||||||||||||||||||||
| Accounts receivable, net of allowance | |||||||||||||||||||||||||||||
| Total quick assets | |||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Quick ratio1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||
| FedEx Corp. | |||||||||||||||||||||||||||||
| Union Pacific Corp. | |||||||||||||||||||||||||||||
| United Airlines Holdings Inc. | |||||||||||||||||||||||||||||
| United Parcel Service Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Trend in Total Quick Assets
- The total quick assets exhibited fluctuations over the reported periods. Initially, there was a decline from US$9,872 million in March 2020 to a low of US$6,528 million in June 2021. Subsequently, the quick assets showed a recovery trend, increasing to US$9,616 million by December 2023, with peaks reaching as high as US$13,715 million in September 2024. The latter part of the timeframe saw some variability but generally maintained a higher level of quick assets compared to the mid-2021 trough.
- Trend in Current Liabilities
- Current liabilities showed a consistent upward trajectory throughout the periods. Starting at US$6,631 million in March 2020, liabilities increased steadily, reaching US$12,686 million by June 2025. There were no significant declines observed, indicating a growing short-term obligation burden on the company over time.
- Quick Ratio Analysis
- The quick ratio initially was fairly strong at 1.49 in March 2020, indicating a comfortable liquidity position. However, this ratio declined steadily to a low point of approximately 0.82 in December 2021, reflecting decreased short-term liquidity and potential pressure in meeting current liabilities with quick assets. After this period, the quick ratio experienced a mild recovery to around 1.27 in September 2024, suggesting an improvement in liquidity. Nevertheless, the quick ratio fluctuated in the latter periods, ending near 0.97 in June 2025, which is below the initial levels and slightly below the generally preferred benchmark of 1.0 for liquidity.
- Overall Liquidity Insight
- The data indicates a period of liquidity contraction up to mid-2021 followed by a phase of asset accumulation and some improvement in liquidity ratios. Despite the improvements, increasing current liabilities exert pressure on short-term liquidity. Maintaining a quick ratio around or slightly below 1 suggests the company faces challenges with liquid asset coverage over its immediate obligations, implying a need for continued monitoring of working capital management efficiency.
Cash Ratio
Uber Technologies Inc., cash ratio calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Cash and cash equivalents | |||||||||||||||||||||||||||||
| Short-term investments | |||||||||||||||||||||||||||||
| Restricted cash and cash equivalents | |||||||||||||||||||||||||||||
| Total cash assets | |||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Cash ratio1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||
| FedEx Corp. | |||||||||||||||||||||||||||||
| Union Pacific Corp. | |||||||||||||||||||||||||||||
| United Airlines Holdings Inc. | |||||||||||||||||||||||||||||
| United Parcel Service Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets show a declining trend from March 2020 through June 2021, decreasing from approximately $9.2 billion to a low of about $5.3 billion. After a brief increase in the third quarter of 2021 to nearly $6.9 billion, cash assets dropped again by the end of 2021. During 2022, cash holdings remained relatively steady, fluctuating between approximately $4.7 billion and $5.5 billion. Beginning in early 2023, cash assets experienced an upward movement, peaking near $7 billion at the end of 2024 before slightly decreasing again towards mid-2025, remaining above $7 billion overall.
- Current Liabilities
- Current liabilities steadily increased throughout the entire period from March 2020 to June 2025. Starting at about $6.6 billion in early 2020, liabilities rose consistently each quarter, reaching approximately $12.7 billion by mid-2025. The growth in current liabilities indicates expanding short-term obligations over the observed timeframe.
- Cash Ratio
- The cash ratio, reflecting liquidity position, started at a strong level of 1.39 in March 2020, showing a declining trend throughout 2020 and into mid-2021, reaching a low of 0.55. This suggests a reduction in liquid assets relative to current liabilities during this period. The ratio maintained a generally low level through 2022, fluctuating between 0.55 and 0.61, before a moderate improvement occurred in 2023, with ratios moving above 0.6 occasionally reaching 0.75. Despite this improvement in 2023 and 2024, the cash ratio never returned to the initial high levels, and it exhibited some volatility through mid-2025, ending slightly above 0.6.