Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Uber Technologies Inc., short-term (operating) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
The analysis of short-term operating activity ratios reveals a general trend toward increased efficiency in asset management and a significant shift in liability settlement patterns over the observed period. There is a demonstrable improvement in the speed of receivables collection, while payables management experienced a period of acceleration followed by a moderate deceleration.
- Receivables Management
- A positive trend in receivables turnover is observed, increasing from 8.65 in March 2022 to a peak of 13.78 in March 2026. This improvement is mirrored in the average receivable collection period, which declined from 42 days to 26 days during the same timeframe. The data indicates a more efficient conversion of accounts receivable into cash, suggesting tighter credit controls or more prompt payment behavior from customers.
- Payables Management
- The payables turnover ratio exhibited substantial growth, rising from 13.53 in March 2022 to a high of 32.37 in June 2024, before trending downward to 23.33 by June 2026. Correspondingly, the average payables payment period contracted from 27 days to a low of 11 days in mid-2024. This pattern suggests a period of aggressive liability settlement, followed by a gradual extension of the payment window toward the end of the period.
- Working Capital Efficiency
- Working capital turnover demonstrates extreme volatility, characterized by sharp fluctuations. A notable spike occurred in March 2022 (1,646.62) and again in March 2025 (191.48), contrasted with significantly lower ratios in late 2023 and 2024, reaching a low of 9.33 in September 2024. These erratic movements suggest significant periodic shifts in the composition of current assets and liabilities relative to revenue generation.
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Turnover Ratios
Average No. Days
Receivables Turnover
Uber Technologies Inc., receivables turnover calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Revenue | 14,191) | 13,203) | 14,366) | 13,467) | 12,651) | 11,533) | 11,959) | 11,188) | 10,700) | 10,131) | 9,936) | 9,292) | 9,230) | 8,823) | 8,607) | 8,343) | 8,073) | 6,854) | ||||||
| Accounts receivable, net | 4,298) | 3,895) | 3,827) | 3,773) | 3,769) | 3,489) | 3,333) | 3,719) | 3,783) | 3,708) | 3,404) | 3,000) | 2,576) | 2,571) | 2,779) | 2,468) | 2,459) | 2,476) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||
| Receivables turnover1 | 12.85 | 13.78 | 13.59 | 13.15 | 12.56 | 13.01 | 13.19 | 11.28 | 10.59 | 10.41 | 10.95 | 11.98 | 13.59 | 13.16 | 11.47 | 11.77 | 10.39 | 8.65 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||
| FedEx Corp. | 7.41 | 7.69 | 7.73 | 8.58 | 8.14 | 8.49 | 8.69 | 8.84 | 8.25 | 8.68 | 8.85 | 8.64 | 8.08 | 8.57 | 7.88 | 7.86 | 7.34 | 7.79 | ||||||
| Union Pacific Corp. | 11.93 | 12.44 | 13.18 | 12.78 | 12.74 | 12.34 | 12.80 | 11.93 | 11.40 | 11.14 | 11.63 | 12.48 | 13.56 | 12.82 | 13.15 | 11.90 | 11.42 | 11.57 | ||||||
| United Airlines Holdings Inc. | 25.44 | 22.73 | 24.71 | 23.99 | 25.37 | 25.23 | 26.38 | 27.42 | 23.42 | 24.27 | 28.30 | 23.94 | 25.39 | 21.47 | 24.96 | 20.03 | 16.07 | 14.05 | ||||||
| United Parcel Service Inc. | 8.40 | 8.88 | 7.91 | 8.98 | 8.66 | 9.19 | 8.38 | 9.86 | 9.89 | 9.39 | 8.11 | 9.84 | 10.03 | 9.60 | 7.97 | 9.21 | 8.78 | 8.82 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Q2 2026 Calculation
Receivables turnover
= (RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025
+ RevenueQ3 2025)
÷ Accounts receivable, net
= (14,191 + 13,203 + 14,366 + 13,467)
÷ 4,298 = 12.85
2 Click competitor name to see calculations.
An examination of the quarterly financial activity reveals a consistent growth trajectory in revenue accompanied by a corresponding increase in net accounts receivable. While both metrics trend upward over the analyzed period, the efficiency of receivable collections, as measured by the receivables turnover ratio, exhibits periodic volatility before stabilizing at a higher baseline than the initial observation period.
- Revenue Growth Trends
- Revenue demonstrates a strong and steady upward trend, increasing from 6,854 million USD in March 2022 to 14,191 million USD by June 2026. This represents more than a twofold increase in quarterly top-line performance. Although growth is consistent, slight seasonal or quarterly fluctuations are observable, such as the dip in March 2025 followed by a recovery in the subsequent quarters.
- Accounts Receivable Dynamics
- Net accounts receivable grew from 2,476 million USD in March 2022 to 4,298 million USD in June 2026. The growth in receivables remained relatively flat through the first year but accelerated starting in late 2023. The increase in receivables is generally proportional to the expansion of revenue, though the pace of accumulation intensified between December 2023 and March 2024.
- Receivables Turnover Analysis
- The receivables turnover ratio shows three distinct phases. Initially, an efficiency gain is observed from March 2022 to June 2023, where the ratio climbed from 8.65 to a peak of 13.59. A subsequent contraction occurred between September 2023 and March 2024, with the ratio descending to 10.41, indicating a period where receivables grew faster than revenue. In the final phase, from June 2024 to June 2026, the ratio stabilized within a range of 10.59 to 13.78, suggesting a normalized and improved collection cycle compared to the early 2022 levels.
- Operating Efficiency Insight
- The overall increase in the turnover ratio over the long term indicates that the company has improved its ability to convert receivables into cash relative to its sales volume. Despite the growth in the absolute value of accounts receivable, the fact that the turnover ratio ended at 12.85 in June 2026—significantly higher than the 8.65 recorded in March 2022—points to enhanced operational efficiency in managing short-term credit and collections.
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Payables Turnover
Uber Technologies Inc., payables turnover calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cost of revenue, exclusive of depreciation and amortization | 7,815) | 7,258) | 8,681) | 8,109) | 7,611) | 6,937) | 7,234) | 6,761) | 6,488) | 6,168) | 6,057) | 5,626) | 5,515) | 5,259) | 5,307) | 5,173) | 5,153) | 4,026) | ||||||
| Accounts payable | 1,366) | 1,189) | 1,013) | 1,119) | 1,022) | 873) | 858) | 802) | 752) | 833) | 790) | 799) | 694) | 712) | 728) | 774) | 810) | 862) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||
| Payables turnover1 | 23.33 | 26.63 | 30.94 | 26.71 | 27.93 | 31.41 | 31.06 | 31.76 | 32.37 | 28.05 | 28.43 | 27.17 | 30.63 | 29.34 | 27.00 | 22.55 | 18.17 | 13.53 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||
| FedEx Corp. | 19.32 | 20.98 | 23.82 | 24.37 | 22.43 | 23.43 | 27.50 | 23.15 | 21.98 | 23.35 | 23.43 | 23.23 | 23.59 | 22.74 | 23.20 | 21.90 | 21.37 | 22.67 | ||||||
| United Airlines Holdings Inc. | 10.90 | 11.25 | 12.93 | 12.59 | 11.79 | 12.30 | 13.61 | 13.97 | 12.42 | 12.62 | 14.01 | 12.48 | 12.20 | 12.65 | 13.24 | 11.53 | 9.49 | 9.77 | ||||||
| United Parcel Service Inc. | 15.05 | 14.94 | 13.37 | 15.47 | 14.95 | 16.67 | 14.45 | 16.76 | 16.89 | 16.63 | 14.35 | 15.59 | 15.81 | 15.69 | 13.36 | 15.02 | 13.96 | 14.04 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Q2 2026 Calculation
Payables turnover
= (Cost of revenue, exclusive of depreciation and amortizationQ2 2026
+ Cost of revenue, exclusive of depreciation and amortizationQ1 2026
+ Cost of revenue, exclusive of depreciation and amortizationQ4 2025
+ Cost of revenue, exclusive of depreciation and amortizationQ3 2025)
÷ Accounts payable
= (7,815 + 7,258 + 8,681 + 8,109)
÷ 1,366 = 23.33
2 Click competitor name to see calculations.
The analysis of short-term operating activity reveals a significant evolution in the management of supplier obligations relative to the cost of revenue. While costs of revenue exhibited a consistent long-term upward trajectory, the efficiency and timing of payables settlement transitioned through three distinct phases.
- Accelerated Turnover Phase (March 2022 – June 2023)
- A sharp increase in the payables turnover ratio is observed, rising from 13.53 to a peak of 30.63. This period is characterized by substantial growth in the cost of revenue paired with a simultaneous reduction in accounts payable, which decreased from 862 million to 694 million. This indicates a period of rapid settlement of supplier obligations or a tightening of available supplier credit.
- Stabilization Phase (September 2023 – March 2025)
- The turnover ratio entered a period of relative stability, oscillating between 27.17 and 32.37. During this interval, accounts payable began a gradual recovery, increasing from 799 million to 873 million, while the cost of revenue continued its steady climb. This suggests a balanced approach to working capital management and a consistent payment cycle.
- Deceleration and Credit Extension Phase (June 2025 – June 2026)
- A downward trend in the turnover ratio is evident in the final periods, declining from 27.93 to 23.33. This decline correlates with a significant increase in accounts payable, which rose to 1,366 million by June 2026. The divergence between the rapidly increasing payables balance and the more moderate growth in the cost of revenue implies a strategic lengthening of the payment cycle, effectively utilizing supplier credit to enhance operational liquidity.
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Working Capital Turnover
Uber Technologies Inc., working capital turnover calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Current assets | 12,529) | 12,823) | 13,993) | 15,139) | 14,107) | 12,350) | 12,245) | 15,331) | 12,483) | 12,074) | 11,297) | 10,679) | 10,664) | 9,196) | 9,249) | 9,368) | 8,751) | 8,665) | ||||||
| Less: Current liabilities | 14,871) | 11,993) | 12,320) | 13,121) | 12,686) | 12,113) | 11,476) | 10,835) | 10,318) | 9,993) | 9,454) | 9,405) | 8,635) | 8,683) | 8,853) | 9,020) | 8,945) | 8,652) | ||||||
| Working capital | (2,342) | 830) | 1,673) | 2,018) | 1,421) | 237) | 769) | 4,496) | 2,165) | 2,081) | 1,843) | 1,274) | 2,029) | 513) | 396) | 348) | (194) | 13) | ||||||
| Revenue | 14,191) | 13,203) | 14,366) | 13,467) | 12,651) | 11,533) | 11,959) | 11,188) | 10,700) | 10,131) | 9,936) | 9,292) | 9,230) | 8,823) | 8,607) | 8,343) | 8,073) | 6,854) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||
| Working capital turnover1 | — | 64.68 | 31.09 | 24.58 | 33.31 | 191.48 | 57.19 | 9.33 | 18.50 | 18.54 | 20.23 | 28.22 | 17.25 | 65.98 | 80.50 | 83.47 | — | 1,646.62 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||
| FedEx Corp. | 20.30 | 23.19 | 29.55 | 26.47 | 26.25 | 21.99 | 18.07 | 21.26 | 18.06 | 17.45 | 17.94 | 21.22 | 22.52 | 16.22 | 15.35 | 16.74 | 13.05 | 13.06 | ||||||
| Union Pacific Corp. | — | — | — | — | — | — | — | — | 114.40 | — | — | — | — | — | — | — | — | — | ||||||
| United Airlines Holdings Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 681.14 | 58.21 | 38.43 | 35.17 | ||||||
| United Parcel Service Inc. | 33.76 | 28.31 | 25.89 | 20.19 | 19.59 | 63.57 | 31.74 | 41.54 | 23.94 | 60.59 | 52.36 | 27.10 | 20.23 | 18.10 | 24.61 | 14.61 | 12.16 | 11.27 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Q2 2026 Calculation
Working capital turnover
= (RevenueQ2 2026
+ RevenueQ1 2026
+ RevenueQ4 2025
+ RevenueQ3 2025)
÷ Working capital
= (14,191 + 13,203 + 14,366 + 13,467)
÷ -2,342 = —
2 Click competitor name to see calculations.
The financial data reveals a strong growth trajectory in revenue contrasted by significant volatility in working capital management. While top-line growth remained consistent throughout the period, the efficiency of working capital utilization fluctuated drastically, indicating shifting liquidity strategies or operational adjustments.
- Revenue Performance
- A consistent upward trend in revenue is observed, increasing from 6,854 million USD in March 2022 to 14,191 million USD by June 2026. This represents a sustained expansion of the business scale over the analyzed period, with only a minor temporary contraction noted in March 2025.
- Working Capital Volatility
- Working capital exhibited extreme variance, transitioning from a nearly neutral position in early 2022 to a peak of 4,496 million USD in September 2024. Following this peak, a sharp decline occurred, with the figure dropping precipitously to negative 2,342 million USD by June 2026. This movement suggests a transition from a period of high liquidity accumulation to a state of negative net working capital.
- Working Capital Turnover Dynamics
- The working capital turnover ratio demonstrates an inverse correlation with the absolute value of working capital. Initial ratios were exceptionally high due to a very low working capital base. As working capital increased between 2023 and 2024, the turnover ratio declined significantly, reaching a period low of 9.33 in September 2024. This indicates that for every dollar of working capital, fewer dollars of revenue were generated during the peak capital accumulation phase.
- Recent Efficiency Shifts
- A resurgence in the turnover ratio is observed starting in March 2025, peaking at 191.48 as working capital began to contract. The ratio remained elevated through March 2026 at 64.68. The final period in June 2026 shows a lack of a turnover ratio, which is a direct result of the working capital turning negative, rendering the standard turnover calculation inapplicable.
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Average Receivable Collection Period
Uber Technologies Inc., average receivable collection period calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||
| Receivables turnover | 12.85 | 13.78 | 13.59 | 13.15 | 12.56 | 13.01 | 13.19 | 11.28 | 10.59 | 10.41 | 10.95 | 11.98 | 13.59 | 13.16 | 11.47 | 11.77 | 10.39 | 8.65 | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||
| Average receivable collection period1 | 28 | 26 | 27 | 28 | 29 | 28 | 28 | 32 | 34 | 35 | 33 | 30 | 27 | 28 | 32 | 31 | 35 | 42 | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||
| FedEx Corp. | 49 | 47 | 47 | 43 | 45 | 43 | 42 | 41 | 44 | 42 | 41 | 42 | 45 | 43 | 46 | 46 | 50 | 47 | ||||||
| Union Pacific Corp. | 31 | 29 | 28 | 29 | 29 | 30 | 29 | 31 | 32 | 33 | 31 | 29 | 27 | 28 | 28 | 31 | 32 | 32 | ||||||
| United Airlines Holdings Inc. | 14 | 16 | 15 | 15 | 14 | 14 | 14 | 13 | 16 | 15 | 13 | 15 | 14 | 17 | 15 | 18 | 23 | 26 | ||||||
| United Parcel Service Inc. | 43 | 41 | 46 | 41 | 42 | 40 | 44 | 37 | 37 | 39 | 45 | 37 | 36 | 38 | 46 | 40 | 42 | 41 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Q2 2026 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 12.85 = 28
2 Click competitor name to see calculations.
The analysis of receivables turnover and the average receivable collection period indicates a general trajectory toward enhanced operational efficiency in credit management and cash flow acceleration over the observed period.
- Receivables Turnover Analysis
- A significant upward trend in the turnover ratio was observed from March 2022, where it stood at 8.65, reaching a peak of 13.59 by June 2023. Although a temporary contraction occurred between September 2023 and March 2024, with the ratio declining to 10.41, a subsequent recovery was noted. From December 2024 through June 2026, the ratio remained consistently high, oscillating between 12.56 and 13.78, suggesting a more aggressive and effective conversion of receivables into cash.
- Average Receivable Collection Period Analysis
- The collection cycle experienced a marked reduction in duration, dropping from 42 days in March 2022 to a low of 27 days in June 2023. A period of moderate volatility followed, with the collection period peaking again at 35 days in March 2024. However, from December 2024 onward, the period stabilized significantly, consistently remaining below 30 days and reaching its lowest point of 26 days in March 2026.
- Comparative Efficiency Trends
- An inverse correlation between turnover and the collection period is evident throughout the timeline. The most efficient operational phase is observed between December 2024 and March 2026, characterized by the simultaneous occurrence of high turnover ratios and the shortest collection windows. This pattern indicates a sustained improvement in the company's ability to collect outstanding payments compared to the more volatile cycles seen in 2022 and 2023.
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Average Payables Payment Period
Uber Technologies Inc., average payables payment period calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||
| Payables turnover | 23.33 | 26.63 | 30.94 | 26.71 | 27.93 | 31.41 | 31.06 | 31.76 | 32.37 | 28.05 | 28.43 | 27.17 | 30.63 | 29.34 | 27.00 | 22.55 | 18.17 | 13.53 | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||
| Average payables payment period1 | 16 | 14 | 12 | 14 | 13 | 12 | 12 | 11 | 11 | 13 | 13 | 13 | 12 | 12 | 14 | 16 | 20 | 27 | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||
| FedEx Corp. | 19 | 17 | 15 | 15 | 16 | 16 | 13 | 16 | 17 | 16 | 16 | 16 | 15 | 16 | 16 | 17 | 17 | 16 | ||||||
| United Airlines Holdings Inc. | 33 | 32 | 28 | 29 | 31 | 30 | 27 | 26 | 29 | 29 | 26 | 29 | 30 | 29 | 28 | 32 | 38 | 37 | ||||||
| United Parcel Service Inc. | 24 | 24 | 27 | 24 | 24 | 22 | 25 | 22 | 22 | 22 | 25 | 23 | 23 | 23 | 27 | 24 | 26 | 26 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Q2 2026 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 23.33 = 16
2 Click competitor name to see calculations.
A significant contraction in the average payables payment period is observed from the first quarter of 2022 through the second quarter of 2024, followed by a period of relative stabilization and a gradual increase toward the second quarter of 2026. This indicates a strategic shift in the management of short-term obligations, transitioning from a longer credit cycle to a more aggressive settlement schedule, and subsequently returning to a slightly more extended window.
- Payables Turnover Trends
- The payables turnover ratio experienced substantial growth during 2022, increasing from 13.53 in March to 27.00 by December. The ratio reached its peak of 32.37 in June 2024, reflecting an acceleration in the frequency with which liabilities were settled. Following this peak, a downward trend emerged, with the ratio receding to 23.33 by June 2026.
- Average Payables Payment Period Dynamics
- The duration of the payment period declined sharply from 27 days in March 2022 to 12 days by March 2023. This efficiency peak was further refined to 11 days during the second and third quarters of 2024. A reversal of this trend began in 2025, as the payment period climbed back to 16 days by June 2026, suggesting a moderate easing of payment urgency.
- Operational Implications
- The inverse correlation between the turnover ratio and the payment period is consistent throughout the observed timeframe. The initial reduction in payment days suggests an improvement in liquidity or a strategic decision to settle vendor obligations faster. The subsequent increase in the payment period toward 2026 indicates a shift toward optimizing working capital by retaining cash for longer durations.
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