Enterprise Value to EBITDA (EV/EBITDA)
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- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2019
- Current Ratio since 2019
- Price to Earnings (P/E) since 2019
- Price to Operating Profit (P/OP) since 2019
- Price to Sales (P/S) since 2019
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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Uber Technologies Inc., EBITDA calculation
US$ in millions
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).
The financial data reveals significant fluctuations in Uber Technologies Inc.'s profitability and earnings measures over the five-year period from 2020 to 2024.
- Net Income (Loss) Attributable to Uber Technologies, Inc.
- The company exhibited a substantial net loss of -6,768 million USD in 2020, which markedly improved to a smaller loss of -496 million USD in 2021. However, 2022 saw a reversal with the net loss deepening significantly again to -9,141 million USD. This pattern dramatically shifted in 2023, resulting in a positive net income of 1,887 million USD, and further increased to 9,856 million USD in 2024, indicating a robust recovery and profitability restoration.
- Earnings Before Tax (EBT)
- EBT followed a similar trend to net income, starting with a large loss of -6,980 million USD in 2020, improving to a less negative -1,062 million USD in 2021. The figure deteriorated again in 2022 to -9,319 million USD before turning positive in 2023 at 2,369 million USD and increasing further to 4,087 million USD in 2024. This progression reflects a gradual transition from substantial losses to a profitable position before taxes.
- Earnings Before Interest and Tax (EBIT)
- EBIT mirrored the patterns seen in EBT, indicating operating performance consistency. The loss decreased from -6,522 million USD in 2020 to -579 million USD in 2021, declined sharply to -8,754 million USD in 2022, then swung to positive territory with 3,002 million USD in 2023 and 4,610 million USD in 2024. This illustrates the company's operational turnaround and better management of costs or revenue growth in recent years.
- Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA)
- EBITDA showed a similar directional change but with a positive figure in 2021 (323 million USD) amid an otherwise negative loss in 2020 (-5,947 million USD). The EBITDA plunged to -7,807 million USD in 2022, yet significantly recovered to 3,825 million USD in 2023 and further to 5,347 million USD in 2024, suggesting improved cash flow and core earnings generation capability after adjusting for non-cash charges.
Overall, the data indicates a volatile financial performance with heavy losses during 2020 and 2022, contrasted by notable improvements and profitability restoration from 2023 onward. The improvements across all earnings metrics suggest strategic operational enhancements and possibly favorable market conditions contributing to the strong recovery and growth trajectory in the most recent years analyzed.
Enterprise Value to EBITDA Ratio, Current
Uber Technologies Inc., current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | |
| Valuation Ratio | |
| EV/EBITDA | |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| FedEx Corp. | |
| Union Pacific Corp. | |
| United Airlines Holdings Inc. | |
| United Parcel Service Inc. | |
| EV/EBITDA, Sector | |
| Transportation | |
| EV/EBITDA, Industry | |
| Industrials | |
Based on: 10-K (reporting date: 2024-12-31).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Uber Technologies Inc., historical EV/EBITDA 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) | ||||||
| Enterprise value (EV)1 | ||||||
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | ||||||
| Valuation Ratio | ||||||
| EV/EBITDA3 | ||||||
| Benchmarks | ||||||
| EV/EBITDA, Competitors4 | ||||||
| FedEx Corp. | ||||||
| Union Pacific Corp. | ||||||
| United Airlines Holdings Inc. | ||||||
| United Parcel Service Inc. | ||||||
| EV/EBITDA, Sector | ||||||
| Transportation | ||||||
| EV/EBITDA, 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).
3 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= ÷ =
4 Click competitor name to see calculations.
The financial data exhibits significant fluctuations in key metrics over the five-year period.
- Enterprise Value (EV)
- The enterprise value showed a sharp decline from US$102,592 million at the end of 2020 to US$73,450 million in 2021, indicating a significant decrease in market valuation or perceived company worth during that period. In 2022, the EV remained relatively stable with a slight increase to US$74,173 million. However, there was a substantial rebound in 2023, with EV more than doubling to US$173,535 million, followed by a slight reduction to US$169,019 million in 2024, suggesting renewed investor confidence or improved business prospects in the latter years.
- Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA)
- EBITDA was negative and relatively high in magnitude at -US$5,947 million in 2020, reflecting substantial operational losses or expenses exceeding earnings. The metric improved dramatically in 2021, turning positive to US$323 million, though this was still marginal and possibly close to breakeven. In 2022, EBITDA worsened again, dropping to -US$7,807 million, indicating a deterioration in operating performance. However, in 2023 and 2024, EBITDA turned positive once more, increasing to US$3,825 million and US$5,347 million respectively, revealing a recovery in operational efficiency or profitability.
- EV/EBITDA Ratio
- This ratio was not available for all years but shows notable extremes when data was present. In 2021, the ratio was exceptionally high at 227.4, a likely reflection of nearly breakeven EBITDA combined with a still substantial enterprise value, highlighting market expectations disconnected from current profitability. By 2023 and 2024, the ratio decreased sharply to 45.37 and 31.61 respectively, correlating with improving EBITDA and increased enterprise value, suggesting a more balanced valuation relative to earnings and improving operational fundamentals.