Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2019
- Price to Earnings (P/E) since 2019
- Price to Sales (P/S) since 2019
- Aggregate Accruals
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Long-term Activity Ratios (Summary)
Uber Technologies Inc., long-term (investment) activity ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Net fixed asset turnover | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset) | ||||||
| Total asset turnover | ||||||
| Equity turnover |
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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrated a strong and consistent upward trend from 6.14 in 2020 to 22.53 in 2024. This indicates an increasingly efficient use of the company's fixed assets in generating revenue over the observed period, with a particularly notable acceleration after 2021.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- When including operating leases and right-of-use assets, the turnover ratio also rose substantially from 3.61 in 2020 to 14.14 in 2024. Although the values are lower compared to the net fixed asset turnover excluding these assets, the consistent growth pattern suggests improving asset utilization even when accounting for leased assets.
- Total Asset Turnover
- Total asset turnover experienced an increase from 0.33 in 2020 to a peak of 0.99 in 2022, signaling improved overall asset efficiency during the initial years. However, following this peak, there was a gradual decline to 0.86 by 2024. This indicates that despite earlier gains, the effectiveness in generating revenue from total assets slightly diminished towards the end of the period.
- Equity Turnover
- Equity turnover showed a strong rise from 0.91 in 2020 to a high of 4.34 in 2022, reflecting enhanced revenue generation relative to shareholders' equity. Subsequently, the ratio declined to 2.04 in 2024, suggesting a reduction in the rate at which equity is being turned over to generate sales. This pattern mirrors the trend seen in total asset turnover, with significant early growth followed by a decrease.
Net Fixed Asset Turnover
Uber Technologies Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | ||||||
| Property and equipment, net | ||||||
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | ||||||
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| FedEx Corp. | ||||||
| Union Pacific Corp. | ||||||
| United Airlines Holdings Inc. | ||||||
| United Parcel Service Inc. | ||||||
| Net Fixed Asset Turnover, Sector | ||||||
| Transportation | ||||||
| Net Fixed Asset Turnover, Industry | ||||||
| Industrials | ||||||
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).
1 2024 Calculation
Net fixed asset turnover = Revenue ÷ Property and equipment, net
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals several key trends over the analyzed periods.
- Revenue
- Revenue has shown a consistent and substantial upward trend, increasing from 11,139 million US dollars at the end of 2020 to 43,978 million US dollars by the end of 2024. This indicates strong growth in the company's top-line performance, with year-over-year increases reflecting expanding business operations or market demand.
- Property and Equipment, Net
- The net value of property and equipment has remained relatively stable throughout the period, with minor fluctuations. Starting at 1,814 million US dollars in 2020, it slightly increased to 2,082 million in 2022 before experiencing a gradual decline to 1,952 million by the end of 2024. This pattern suggests limited capital expenditure growth or increased depreciation and asset disposals in recent years.
- Net Fixed Asset Turnover
- This ratio has exhibited a strong upward trajectory, rising from 6.14 in 2020 to 22.53 in 2024. The increasing ratio implies an enhancement in asset utilization efficiency, with the company generating significantly more revenue per unit of net fixed assets over time. This improvement could be a result of better operational efficiency, asset optimization, or a shift towards less capital-intensive revenue streams.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Uber Technologies Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | ||||||
| Property and equipment, net | ||||||
| Operating lease right-of-use assets | ||||||
| Property and equipment, net (including operating lease, right-of-use asset) | ||||||
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | ||||||
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| FedEx Corp. | ||||||
| Union Pacific Corp. | ||||||
| United Airlines Holdings Inc. | ||||||
| United Parcel Service Inc. | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Transportation | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Industrials | ||||||
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).
1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property and equipment, net (including operating lease, right-of-use asset)
= ÷ =
2 Click competitor name to see calculations.
- Revenue Trend
- The revenue demonstrates a strong and consistent upward trajectory over the five-year period. Starting from $11,139 million in 2020, it increased significantly each year to reach $43,978 million in 2024. This reflects a compound growth pattern and indicates substantial business expansion and increased market penetration.
- Property and Equipment, Net
- The net value of property and equipment, including operating lease right-of-use assets, showed a moderate increase from $3,088 million in 2020 to a peak of $3,531 million in 2022. Following this peak, there was a gradual decline to $3,110 million by 2024. This suggests a possible shift in capital expenditure strategy, asset divestment, or depreciation effects outweighing new investments in recent years.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio improved markedly over the period, rising from 3.61 in 2020 to 14.14 in 2024. This indicates an increasing efficiency in utilizing fixed assets to generate revenue. The rapid increase suggests enhanced asset management, operational leverage, or revenue growth outpacing fixed asset growth, reflecting stronger asset productivity and utilization.
Total Asset Turnover
Uber Technologies Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | ||||||
| Total assets | ||||||
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | ||||||
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| FedEx Corp. | ||||||
| Union Pacific Corp. | ||||||
| United Airlines Holdings Inc. | ||||||
| United Parcel Service Inc. | ||||||
| Total Asset Turnover, Sector | ||||||
| Transportation | ||||||
| Total Asset Turnover, Industry | ||||||
| Industrials | ||||||
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).
1 2024 Calculation
Total asset turnover = Revenue ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals significant developments in the company's revenue generation and asset management over the five-year period examined.
- Revenue
- Revenue has displayed a consistent upward trend throughout the period, increasing substantially from US$11,139 million in 2020 to US$43,978 million in 2024. This represents nearly a fourfold increase, indicating robust growth in the company's top-line performance. The most pronounced year-over-year growth appears between 2021 and 2022, where revenue nearly doubled.
- Total assets
- Total assets experienced fluctuations across the years. Initially rising from US$33,252 million in 2020 to US$38,774 million in 2021, assets then declined to US$32,109 million in 2022, suggesting potential divestitures, asset impairments, or operational changes during that period. However, assets rebounded thereafter, reaching US$51,244 million by 2024, indicating renewed investment or asset accumulation aligning with the revenue growth.
- Total asset turnover
- The total asset turnover ratio, which reflects efficiency in using assets to generate revenue, improved markedly from 0.33 in 2020 to a peak of 0.99 in 2022. This suggests significantly enhanced asset utilization by that year. However, the ratio slightly declined to 0.96 in 2023 and further to 0.86 in 2024. Despite these decreases, the turnover ratio in 2024 remains well above the 2020 level, indicating sustained relative operational efficiency even as asset base expanded.
In summary, the company's financial data points to strong revenue growth supported by strategic asset management. The improvement in asset turnover ratio up to 2022 suggests gains in operational efficiency, though the slight decline in the subsequent years may reflect heavier investments or slower asset utilization relative to rapid revenue expansion.
Equity Turnover
Uber Technologies Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | ||||||
| Total Uber Technologies, Inc. stockholders’ equity | ||||||
| Long-term Activity Ratio | ||||||
| Equity turnover1 | ||||||
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| FedEx Corp. | ||||||
| Union Pacific Corp. | ||||||
| United Airlines Holdings Inc. | ||||||
| United Parcel Service Inc. | ||||||
| Equity Turnover, Sector | ||||||
| Transportation | ||||||
| Equity Turnover, Industry | ||||||
| Industrials | ||||||
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).
1 2024 Calculation
Equity turnover = Revenue ÷ Total Uber Technologies, Inc. stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- The revenue exhibited consistent growth over the five-year period. Starting from US$11,139 million in 2020, it increased to US$17,455 million in 2021, then surged significantly to US$31,877 million in 2022. The upward trend continued, albeit at a slower rate, reaching US$37,281 million in 2023 and US$43,978 million in 2024. This pattern indicates strong expansion and improving market performance.
- Stockholders’ Equity Trends
- The total stockholders’ equity experienced fluctuations rather than steady growth. It increased from US$12,266 million in 2020 to US$14,458 million in 2021, then declined sharply to US$7,340 million in 2022. Following this decrease, equity rebounded to US$11,249 million in 2023 and rose significantly to US$21,558 million by 2024. The sharp decline in 2022 suggests possible losses or capital adjustments during that year, with recovery and growth afterward.
- Equity Turnover Ratio Trends
- The equity turnover ratio, calculated as revenue divided by stockholders’ equity, showed considerable variation. Beginning at 0.91 in 2020, it increased to 1.21 in 2021, indicating more efficient use of equity in generating revenue. The ratio then peaked at 4.34 in 2022, reflecting a combination of sharply increased revenue and decreased equity. Subsequently, it decreased to 3.31 in 2023 and further to 2.04 in 2024, suggesting that while revenue continued growing, equity levels recovered and increased, moderating the turnover ratio.
- Overall Insights
- The company exhibited robust revenue growth from 2020 to 2024, with the most pronounced increase in 2022. The stockholders’ equity showed instability, particularly with a significant drop in 2022, followed by recovery and growth in subsequent years. The equity turnover ratio’s peak in 2022 corresponds to the simultaneous revenue spike and equity decline, indicating a period of high operational efficiency or financial restructuring. The subsequent moderation of the turnover ratio aligns with stabilization and growth in equity, suggesting improved balance sheet strength alongside revenue expansion.