Uber Technologies Inc. (NYSE:UBER)

Gross Profit Margin

The gross profit margin was first reported at 53.73% in March 2021 and generally exhibited a decreasing trend through December 2022, reaching a low point around 39.91%. After this decline, the margin stabilized and showed slight improvement, fluctuating around 39.2% to 39.7% through June 2025. This pattern suggests initial pressure on gross profitability followed by a period of stabilization and modest recovery.

Operating Profit Margin

The operating profit margin started with substantial negative values in early 2021, reaching its most severe loss at -47.47% in June 2021. However, a consistent upward trend is evident from late 2021 onward, moving steadily toward positive territory. By December 2024, the margin rose to 8.49% and further improved to 9.53% by June 2025. This progression reflects improving operational efficiency and reduced losses over time, culminating in positive operating profitability in recent quarters.

Net Profit Margin

The net profit margin showed significant volatility with deep negative figures reaching -60.76% in March 2021 and persistent losses extending through 2022. Beginning in early 2023, the margin improved markedly, turning positive by March 2023 at 2.93%. It continued an overall upward trajectory, achieving robust profitability with a peak above 27% by June 2025. This demonstrates a strong recovery in bottom-line profitability after a prolonged period of net losses.

Return on Equity (ROE)

The return on equity displayed substantial negative values during 2021 and 2022, hitting extremely low points such as -151.07% in September 2022. Starting in early 2023, ROE showed marked improvement, turning positive at 11.26% by December 2023 and continuing to rise to over 55% by June 2025. This turnaround indicates enhanced shareholder value generation and effective use of equity capital following earlier poor performance.

Return on Assets (ROA)

Return on assets followed a pattern similar to ROE, with negative returns throughout 2021 and 2022, including a trough around -32.45% in June 2022. From early 2023, the metric recovered steadily, surpassing positive territory at 2.93% in March 2023 and reaching over 23% by mid-2025. This suggests improved efficiency in asset utilization and profitability generation relative to the company’s asset base.

The quarterly financial data reveals several notable trends in key performance metrics over the observed periods.

Gross Profit

The gross profit exhibited a variable pattern, beginning with a decrease in early 2020, dropping from 1,757 million USD in Q1 to 989 million USD in Q2. Subsequently, it showed a recovery and upward trend throughout 2020 and into 2021, peaking at 2,674 million USD in Q4 2021. From 2022 onward, gross profit consistently increased, reaching a high of 5,040 million USD by Q2 2025, despite a few minor fluctuations such as a slight dip in Q3 2023. This overall growth indicates an expanding scale and potentially improved operational efficiency or pricing power over the considered timeframe.

Revenue

Revenue demonstrated a generally rising trend across the reported quarters. Starting at 3,248 million USD in Q1 2020, revenue initially decreased in Q2 2020 to 1,913 million USD, likely reflecting external market shocks. It then steadily recovered and grew throughout the subsequent quarters, surpassing previous levels by Q4 2021 at 5,778 million USD. Continuing this trajectory, revenue increased consistently to reach approximately 12,651 million USD by Q2 2025, indicating strong sales growth and market expansion over the five-year span.

Gross Profit Margin

Gross profit margin data is available from Q1 2021 onward and illustrates a decreasing trend in the first half of 2021, falling from 53.73% to 46.43%. Thereafter, the margin continued to decline gradually, bottoming out around 38.27% in Q4 2022. From that point forward, the margin stabilized and exhibited slight improvement and consistency, settling between 39.24% and 39.69% through Q2 2025. The initial decline may reflect rising costs or shifting business mix, while the subsequent stabilization suggests effective margin management despite increasing revenue and gross profit levels.

Overall, the data suggests robust revenue growth supported by increasing gross profit, though accompanied by pressure on gross profit margins that eventually stabilized. This pattern could signify investments in growth or competitive pricing strategies impacting profitability ratios. The increasing absolute gross profit combined with steady margins indicates improved scale efficiencies or control over cost structures in recent quarters.

Revenue

The revenue demonstrates a generally upward trend over the analyzed periods, starting at $3,248 million in March 2020 and increasing to $12,651 million by June 2025. Although there was a notable dip in the second quarter of 2020, likely due to macroeconomic factors, revenue subsequently recovers strongly and consistently grows, reflecting a positive trajectory in the company's sales performance.

Income (Loss) from Operations

Operational income exhibited significant improvement from a loss of $1,263 million in March 2020 to a positive $1,450 million by June 2025. The initial periods up to late 2020 were marked by operating losses, peaking at a loss of $1,607 million in June 2020 and gradually decreasing. Starting around mid-2023, the company achieved positive operating income, which generally increased, signaling improving profitability and operational efficiency over time, with fluctuations in some quarters but an overall upward trend.

Operating Profit Margin

The operating profit margin moved from deep negative territory in 2020, with margins as low as -47.47% in December 2020, to positive margins by mid-2023. There is a clear pattern of margin expansion, progressing from negative margins in early periods to modest positive values around early 2023, and further increasing to approximately 9.53% by June 2025. This suggests enhanced cost control and/or improved revenue quality, contributing to better profitability on sales.

Overall Assessment

The company displays a recovery and growth trajectory throughout the timeline. Revenue growth is steady and strong despite initial challenges. The transition from substantial operational losses to consistent profitability highlights successful operational improvements. The expanding operating profit margins corroborate enhanced operational leverage and improved financial health, raising positive outlooks for ongoing fiscal performance.

The financial performance over the observed periods displays notable fluctuations and trends in both revenue and net income attributable to the company. Revenue shows a consistent upward trajectory from March 2020 through June 2025, increasing from approximately 3.2 billion US dollars to over 12.6 billion US dollars. This continuous growth indicates expanding operations or increased market demand throughout the time frame under review.

In contrast, the net income figures are considerably more volatile. Initially, there is a substantial loss of nearly 3 billion US dollars in the first quarter of 2020, followed by a general trend of decreasing losses and intermittent profitability. The net income fluctuates, with quarters showing both negative and positive values, until a strong recovery begins in late 2023 and into 2024. From the first quarter of 2024 onwards, net income turns consistently positive, reaching a peak of over 6.8 billion US dollars in the fourth quarter of the same year, which suggests a possible turnaround in profitability and operational efficiency.

Examining the net profit margin provides additional insight. Early in the dataset, from mid-2020 to early 2022, margins are deeply negative, reflecting periods of considerable operating losses relative to revenue. The margins range from around -60.76% to approximately -9.95%, highlighting significant financial challenges. However, there is a clear improvement starting in 2023, with margins moving closer to zero, turning slightly positive by the third quarter of 2023, and continuing to strengthen. By mid-2024, the net profit margin reaches double digits, peaking above 27% by mid-2025. This improvement indicates enhanced profitability relative to revenue and suggests a more sustainable and efficient financial structure.

Overall, the data reveals that while initial quarters were marked by large losses and negative profitability, there is a strong recovery trend in the later periods. This is supported by steadily increasing revenue and improving net profit margins, culminating in sustained positive net income and significant profit margins by mid-2025. These patterns may reflect successful strategic initiatives, cost management improvements, or favorable market conditions that enhance profitability over time.

Revenue Trends

Consistent and significant growth across all quarters, from approximately 3.2 billion US dollars in early 2020 to over 12.6 billion US dollars by mid-2025.

Net Income Trends

Highly volatile with heavy losses in early periods transitioning to positive net income beginning in late 2023, reaching a peak of 6.8 billion US dollars by the end of 2024.

Net Profit Margin Trends

Initially negative margins indicating operational losses; a gradual improvement leads to positive margins by late 2023, reaching over 27% by mid-2025, signaling solid profitability.

The financial performance demonstrated significant volatility in net income attributable to the company over the observed quarterly periods. Initially, net income was deeply negative, with a substantial loss of $2,936 million at the end of March 2020. This loss decreased over the next two quarters, reaching a loss of $968 million by December 2020. Entering 2021, the company experienced a notable turnaround, reporting positive net income of $1,144 million in June 2021, though this improvement was not consistent as subsequent quarters in 2021 showed fluctuating results, including a large loss of $2,424 million in September 2021 and a return to positive territory by the end of the year.

In 2022, net income again declined sharply with significant losses reported in the first three quarters, including a high loss of $5,930 million in March 2022. However, there was a recovery toward the end of 2022, returning to a modest profit of $596 million in December. The company's net income in 2023 and beyond displayed a recovery trajectory with mostly positive figures and increasing profitability, reaching a peak profit of $6,883 million in December 2024 before slightly declining yet remaining positive by mid-2025.

Stockholders’ equity exhibited more stability and gradual growth throughout most of the periods. Initial equity stood at $11,342 million in March 2020, experiencing slight declines during parts of 2020 and 2022—especially pronounced around mid-2022 with equity dropping to a low of $6,247 million in September 2022. From late 2022 onward, equity commenced a steady upward trend, reaching $22,598 million by June 2025, indicating strengthening capital base and retained earnings accumulating over time.

Return on equity (ROE) reflected the company’s fluctuating profitability and equity changes. The ROE was negative and extreme in early periods, with figures such as -151.07% in June 2022 and -124.54% in September 2022, pointing to significant losses relative to equity. By 2023, the ROE showed a clear recovery trend moving from negative values to positive territory, reaching 55.91% by June 2025. This positive ROE indicates improving efficiency in generating profit from shareholders' equity in the latter periods.

Overall, the company experienced a turbulent financial period characterized by large profits and losses, significant equity fluctuations, and an eventual trend towards improved profitability and capital strength. The transition from negative to strong positive ROE alongside increasing equity suggests successful strategic adjustments or market recovery impacting the financial position positively in the medium term.

Net Income Trends

High volatility with large losses in early 2020 and early 2022; recovery to consistent profits starting late 2022 through mid-2025, culminating in strong net income levels.

Stockholders’ Equity

Initial moderate declines corresponded with loss periods; equity rebounded and grew steadily from late 2022 onward, indicating capital strengthening.

Return on Equity (ROE)

Significantly negative during heavy loss periods, reflecting unprofitable operations; transitioned to positive ROE by 2023, reaching substantial profitability efficiency by mid-2025.

Overall Financial Health

Initial financial stress indicated by losses and equity drops; eventual recovery evidenced by profitable operations, rising equity, and strong positive ROE by the end of the observed period.

Net income (loss) attributable to Uber Technologies, Inc.

The net income exhibits significant volatility over the periods analyzed. Initially, the company reported large losses, peaking at -2,936 million USD in March 2020. Losses decreased in the subsequent quarters reaching a low point of -108 million USD by March 2021, indicating an improving trend. However, fluctuations are evident throughout the data, with occasional quarters showing positive net income such as 1,144 million USD in June 2021 and 892 million USD in December 2021, followed by return to losses afterward. More recent quarters show a marked improvement, with especially strong net income figures noted from March 2024 onward: 2,612 million USD in September 2024 and reaching a high of 6,883 million USD in December 2024, although the level slightly decreased in subsequent quarters.

Total assets

Total assets display a generally upward trajectory over the entire timeframe. Beginning at 30,090 million USD in March 2020, total assets declined slightly to around 28,240 million USD in June 2020 but then steadily increased throughout subsequent periods. The increase is consistent and notable, reaching over 55,982 million USD by December 2025. This suggests consistent investment or growth in asset base over time.

Return on Assets (ROA)

ROA started at deeply negative levels, with values such as -20.35% in September 2020 and worsening to -32.45% by June 2022. Thereafter, there is a gradual recovery trend observable. By March 2023, ROA improved significantly to near breakeven (-1.09%) and turned positive in following quarters, reaching 4.88% in December 2023 and peaking at 23.26% in June 2025. This improvement in ROA parallels the trend observed in net income and reflects enhanced asset profitability over the period.

Overall Trends and Insights

The data indicates a company undergoing substantial cycles of financial distress followed by recovery and growth phases from 2020 to 2025. The early periods are characterized by steep losses and low asset efficiency; however, a marked turnaround is observable from 2023 onward. Asset growth is stable and strong, while profitability metrics improve considerably, moving into significantly positive territory by 2024 and 2025. The correlation between improving net income and rising ROA suggests that recent strategies or market conditions may be contributing positively to operational performance and capital utilization efficiency.