Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Uber Technologies Inc., historical price multiples (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).
The financial ratios for the analyzed periods reveal varied trends across valuation metrics, indicating shifts in market perception and company performance over time.
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio data starts from March 2023 and exhibits a clear downward trend through to June 2025. The P/E ratio decreased from 97.47 in the first recorded quarter to 14.74 by the end of the observation period. This sharp decline may point to an improvement in earnings relative to the company’s share price, suggesting enhanced profitability or market revaluation reflecting reduced growth expectations or risk.
- Price to Operating Profit (P/OP) Ratio
- Similar to the P/E ratio, the Price to Operating Profit ratio begins reporting in March 2023 and shows a consistent decrease from a high of 325.09 down to 41.26 by June 2025. This substantial reduction suggests a significant increase in operating profit or a correction in the pricing of shares relative to operating earnings, indicating improved operational performance or market reassessment.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio demonstrates a fluctuating pattern across the entire timeline from March 2021 to June 2025. Initially, the ratio declines substantially from 8.09 to a low near 1.98 in the September 2022 quarter, implying the market priced the stock lower relative to sales, possibly due to concerns about profitability or growth. After this low point, it shows a general upward trend, increasing to approximately 3.93 by June 2025, indicating renewed investor confidence, better sales growth, or improved revenue quality relative to share price.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio shows substantial variability with some peaks and troughs between March 2021 and June 2025. It starts at 6.42 in early 2021, rises to a peak around 15.02 by December 2023, and then declines to around 8.23 by the mid-2025 quarter. The initial rise could be attributed to increased market expectations on the company's asset-based value or growth prospects, while the subsequent decline suggests a moderation in investor optimism or adjustments in book value trends.
Overall, the valuation ratios indicate a market adjusting its expectations over time. The significant declines in P/E and P/OP ratios post-2023 point to either improved profitability metrics or changing investor sentiment regarding earnings and operating performance. Conversely, the Price to Sales and Price to Book Value ratios reflect more nuanced shifts, with early declines followed by partial recoveries, illustrating evolving perspectives on revenue quality and asset-based valuation. These patterns collectively suggest an environment of improving operational results tempered by cautious market evaluation.
Price to Earnings (P/E)
Uber Technologies Inc., historical P/E 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,085,418,676 | 2,091,168,098 | 2,089,008,865 | 2,105,709,325 | 2,100,937,229 | 2,089,520,408 | 2,076,497,400 | 2,057,858,230 | 2,043,522,654 | 2,023,827,162 | 2,009,907,175 | 1,994,407,340 | 1,979,918,174 | 1,963,660,253 | 1,954,464,088 | 1,940,118,248 | 1,884,346,863 | 1,871,760,070 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income (loss) attributable to Uber Technologies, Inc. (in millions) | 1,355) | 1,776) | 6,883) | 2,612) | 1,015) | (654) | 1,429) | 221) | 394) | (157) | 596) | (1,206) | (2,601) | (5,930) | 892) | (2,424) | 1,144) | (108) | ||||||
| Earnings per share (EPS)2 | 6.05 | 5.88 | 4.72 | 2.09 | 0.96 | 0.67 | 0.91 | 0.51 | -0.18 | -1.66 | -4.55 | -4.43 | -5.08 | -3.22 | -0.25 | -1.21 | -0.54 | -2.10 | ||||||
| Share price1, 3 | 89.22 | 83.65 | 79.42 | 72.05 | 64.87 | 66.40 | 81.39 | 49.92 | 46.96 | 37.84 | 34.20 | 28.81 | 31.85 | 26.83 | 34.87 | 45.51 | 43.07 | 46.65 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | 14.74 | 14.24 | 16.83 | 34.47 | 67.77 | 99.82 | 89.56 | 97.47 | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| FedEx Corp. | 17.09 | 18.13 | 17.21 | 14.83 | 16.32 | 15.09 | 16.11 | 17.14 | 12.45 | 11.20 | 14.80 | 11.50 | 12.86 | 13.14 | 15.07 | 23.08 | 31.59 | 34.80 | ||||||
| Union Pacific Corp. | 18.86 | 19.12 | 21.68 | 21.08 | 22.08 | 23.25 | 23.85 | 20.14 | 21.55 | 17.65 | 17.97 | 16.21 | 19.32 | 22.53 | 23.67 | 24.01 | 24.34 | 27.76 | ||||||
| United Airlines Holdings Inc. | 8.92 | 5.98 | 9.58 | 8.57 | 5.20 | 5.96 | 5.70 | 4.15 | 6.96 | 7.67 | 21.74 | — | — | — | — | — | — | — | ||||||
| United Parcel Service Inc. | 12.76 | 13.59 | 17.05 | 20.17 | 20.11 | 21.14 | 18.89 | 13.92 | 15.41 | 14.01 | 13.27 | 12.72 | 15.37 | 14.93 | 14.11 | 28.39 | 27.60 | 36.12 | ||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net income (loss) attributable to Uber Technologies, Inc.Q2 2025
+ Net income (loss) attributable to Uber Technologies, Inc.Q1 2025
+ Net income (loss) attributable to Uber Technologies, Inc.Q4 2024
+ Net income (loss) attributable to Uber Technologies, Inc.Q3 2024)
÷ No. shares of common stock outstanding
= (1,355,000,000 + 1,776,000,000 + 6,883,000,000 + 2,612,000,000)
÷ 2,085,418,676 = 6.05
3 Closing price as at the filing date of Uber Technologies Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 89.22 ÷ 6.05 = 14.74
5 Click competitor name to see calculations.
The financial data reveals several key trends and shifts in the company's performance and market valuation over the analyzed quarters.
- Share Price Trend
- The share price exhibited considerable volatility throughout the period. Initially, the price declined from $46.65 in March 2021 to a low of $26.83 by March 2022, indicating investor caution or adverse market conditions during that span. Afterwards, the share price demonstrated a notable recovery and upward trajectory, climbing steadily from mid-2022, reaching $81.39 at the end of 2023. This upward momentum continued into 2024 and early 2025, with the price ultimately reaching $89.22 by June 2025. This pattern suggests improved investor confidence and market perception.
- Earnings Per Share (EPS) Trend
- EPS figures indicate a transition from losses into profitability. In 2021 and early 2022, the company experienced negative EPS readings, with notable lows such as -$5.08 in June 2022. This reflects operational challenges or high expenses impacting net income. Starting late 2022 and continuing into 2023, EPS moved into positive territory, demonstrating improved profitability. The EPS showed a progressive increase, reaching $6.05 per share by June 2025. This improvement implies enhanced operational efficiency or revenue growth supporting net earnings.
- Price-to-Earnings (P/E) Ratio Trend
- The P/E ratio data is unavailable for the earlier periods but becomes available starting in September 2023. During the periods observed, the ratio fluctuates but generally declines from 97.47 in September 2023 to 14.74 by June 2025. The declining P/E ratio in the context of rising EPS and share price suggests that market valuation is becoming more aligned with earnings growth, reflecting a transition from speculative pricing towards fundamental valuation. Lower P/E ratios combined with rising EPS can indicate increasing investor confidence in sustainable profitability.
- Overall Financial Performance Insight
- The company has experienced a marked turnaround from substantial losses and subdued share prices to steadily improving profitability and robust share price appreciation. The trends suggest effective management of operational challenges, enhanced revenue generation, or cost controls contributing to profitability. The evolving P/E ratio points to a maturing market perception aligning valuation with financial fundamentals. This trajectory is indicative of strengthening market position and increasing shareholder value over the examined timeframe.
Price to Operating Profit (P/OP)
Uber Technologies Inc., historical P/OP 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,085,418,676 | 2,091,168,098 | 2,089,008,865 | 2,105,709,325 | 2,100,937,229 | 2,089,520,408 | 2,076,497,400 | 2,057,858,230 | 2,043,522,654 | 2,023,827,162 | 2,009,907,175 | 1,994,407,340 | 1,979,918,174 | 1,963,660,253 | 1,954,464,088 | 1,940,118,248 | 1,884,346,863 | 1,871,760,070 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Income (loss) from operations (in millions) | 1,450) | 1,228) | 770) | 1,061) | 796) | 172) | 652) | 394) | 326) | (262) | (142) | (495) | (713) | (482) | (550) | (572) | (1,188) | (1,524) | ||||||
| Operating profit per share2 | 2.16 | 1.84 | 1.34 | 1.27 | 0.96 | 0.74 | 0.53 | 0.15 | -0.28 | -0.80 | -0.91 | -1.12 | -1.17 | -1.42 | -1.96 | -2.14 | -2.50 | -2.74 | ||||||
| Share price1, 3 | 89.22 | 83.65 | 79.42 | 72.05 | 64.87 | 66.40 | 81.39 | 49.92 | 46.96 | 37.84 | 34.20 | 28.81 | 31.85 | 26.83 | 34.87 | 45.51 | 43.07 | 46.65 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | 41.26 | 45.38 | 59.27 | 56.59 | 67.67 | 89.86 | 152.26 | 325.09 | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| FedEx Corp. | 13.48 | 14.24 | 13.40 | 11.83 | 13.19 | 12.10 | 13.03 | 9.62 | 7.38 | 6.66 | 9.07 | 9.66 | 10.90 | 11.82 | 13.46 | 15.42 | 19.66 | 20.51 | ||||||
| Union Pacific Corp. | 13.29 | 13.25 | 15.06 | 14.58 | 15.32 | 16.22 | 16.75 | 14.11 | 15.20 | 12.56 | 12.68 | 11.53 | 13.58 | 15.79 | 16.53 | 16.70 | 16.84 | 18.84 | ||||||
| United Airlines Holdings Inc. | 5.91 | 3.90 | 5.92 | 5.16 | 3.20 | 3.68 | 3.54 | 2.59 | 4.31 | 4.01 | 6.86 | 23.16 | 93.38 | — | — | — | — | — | ||||||
| United Parcel Service Inc. | 8.70 | 9.34 | 11.64 | 14.25 | 14.32 | 15.25 | 13.86 | 12.08 | 13.27 | 12.19 | 11.70 | 10.32 | 12.38 | 12.08 | 14.20 | 16.72 | 16.10 | 19.92 | ||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Income (loss) from operationsQ2 2025
+ Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024)
÷ No. shares of common stock outstanding
= (1,450,000,000 + 1,228,000,000 + 770,000,000 + 1,061,000,000)
÷ 2,085,418,676 = 2.16
3 Closing price as at the filing date of Uber Technologies Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 89.22 ÷ 2.16 = 41.26
5 Click competitor name to see calculations.
The quarterly financial data displays notable trends in both the share price and operating profit per share over the observed periods. The share price experienced fluctuations initially, with a decline from March 2021 through March 2022, reaching a low point during that time frame. Subsequently, the share price showed a recovery trend starting in mid-2022, with more pronounced growth observed from early 2023 onwards, culminating in a significant rise by June 2025. This upward momentum suggests improving market confidence or favorable performance expectations.
Operating profit per share demonstrates a clear improvement trajectory. Initially, this metric reflected negative values in the early periods, indicating losses on an operating profit basis. However, there is a consistent reduction in the magnitude of these losses quarter over quarter, transitioning into positive territory by the September 2023 quarter. From that point forward, operating profit per share continues to increase steadily through mid-2025, signifying enhanced operational efficiency and profitability.
The Price to Operating Profit ratio (P/OP), available for the latter periods, exhibits a downward trend, moving from an exceptionally high level to more moderate values. This decline in P/OP ratio may indicate that the stock price growth is becoming more justified by operating profit improvements, reflecting a potentially healthier valuation relative to earnings performance.
- Share Price Trend
- Declined from early 2021 to early 2022, followed by recovery and strong growth from mid-2022 to mid-2025.
- Operating Profit Per Share Trend
- Gradual improvement from negative losses in early periods turning positive by late 2023, with continued growth through 2025.
- Price to Operating Profit Ratio (P/OP)
- Decreased substantially from very high levels starting early 2023, reflecting improved valuation alignment with profitability.
Overall, the data suggest a company moving from operational challenges and valuation uncertainty toward greater profitability and market confidence. The convergence of rising operating profits per share and increasing share prices, alongside a declining P/OP ratio, point to positive financial health trends and improving investor perceptions over the examined timeline.
Price to Sales (P/S)
Uber Technologies Inc., historical P/S 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,085,418,676 | 2,091,168,098 | 2,089,008,865 | 2,105,709,325 | 2,100,937,229 | 2,089,520,408 | 2,076,497,400 | 2,057,858,230 | 2,043,522,654 | 2,023,827,162 | 2,009,907,175 | 1,994,407,340 | 1,979,918,174 | 1,963,660,253 | 1,954,464,088 | 1,940,118,248 | 1,884,346,863 | 1,871,760,070 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Revenue (in millions) | 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) | 5,778) | 4,845) | 3,929) | 2,903) | ||||||
| Sales per share2 | 22.70 | 21.70 | 21.05 | 19.92 | 19.07 | 18.47 | 17.95 | 17.47 | 17.13 | 16.72 | 15.86 | 14.56 | 12.90 | 10.90 | 8.93 | 7.65 | 6.80 | 5.77 | ||||||
| Share price1, 3 | 89.22 | 83.65 | 79.42 | 72.05 | 64.87 | 66.40 | 81.39 | 49.92 | 46.96 | 37.84 | 34.20 | 28.81 | 31.85 | 26.83 | 34.87 | 45.51 | 43.07 | 46.65 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | 3.93 | 3.85 | 3.77 | 3.62 | 3.40 | 3.60 | 4.53 | 2.86 | 2.74 | 2.26 | 2.16 | 1.98 | 2.47 | 2.46 | 3.90 | 5.95 | 6.34 | 8.09 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| FedEx Corp. | 0.76 | 0.84 | 0.85 | 0.74 | 0.80 | 0.71 | 0.71 | 0.55 | 0.44 | 0.42 | 0.61 | 0.64 | 0.71 | 0.77 | 0.94 | 0.89 | 1.04 | 0.87 | ||||||
| Union Pacific Corp. | 5.36 | 5.31 | 6.03 | 5.76 | 5.94 | 6.17 | 6.31 | 5.31 | 5.86 | 4.93 | 5.05 | 4.69 | 5.65 | 6.77 | 7.08 | 7.01 | 6.96 | 7.50 | ||||||
| United Airlines Holdings Inc. | 0.51 | 0.38 | 0.53 | 0.42 | 0.27 | 0.29 | 0.28 | 0.23 | 0.36 | 0.30 | 0.36 | 0.31 | 0.34 | 0.57 | 0.63 | 0.75 | 1.06 | 1.56 | ||||||
| United Parcel Service Inc. | 0.81 | 0.88 | 1.08 | 1.26 | 1.18 | 1.40 | 1.39 | 1.28 | 1.60 | 1.53 | 1.53 | 1.41 | 1.68 | 1.63 | 1.87 | 1.94 | 1.81 | 2.09 | ||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
÷ No. shares of common stock outstanding
= (12,651,000,000 + 11,533,000,000 + 11,959,000,000 + 11,188,000,000)
÷ 2,085,418,676 = 22.70
3 Closing price as at the filing date of Uber Technologies Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 89.22 ÷ 22.70 = 3.93
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited notable volatility over the observed periods. Initially, it declined from $46.65 to a low of $26.83 by March 31, 2022. Subsequently, the price experienced a recovery phase, increasing steadily and reaching a peak of $81.39 by December 31, 2023. In the most recent quarters, the share price continued an upward trend, reaching $89.22 by June 30, 2025. Overall, the share price demonstrated a recovery and growth trajectory after an early decline.
- Sales Per Share
- Sales per share showed consistent growth throughout the entire period. Starting at $5.77 per share at the end of March 2021, this metric almost quadrupled to $22.70 per share by March 31, 2025. The steady increase indicates an expanding revenue base on a per-share basis and suggests improving operational performance or revenue scaling.
- Price-to-Sales (P/S) Ratio
- The P/S ratio decreased significantly from 8.09 at the start to a trough of 1.98 by September 30, 2022, showing a substantial decline in the stock price relative to sales during the early period. After bottoming out, the ratio began to gradually increase, reaching 4.53 by December 31, 2023. The ratio then demonstrated a moderate upward trend, ending at 3.93 by June 30, 2025. This indicates the market’s valuation of sales improved after the initial slump but did not fully return to early highs, suggesting a more tempered market optimism or a recalibration of valuation multiples.
- Overall Financial Insights
- The data reflects an initial challenging market environment with declining share price and valuations relative to sales, but a robust and ongoing improvement in operational performance as evidenced by rising sales per share. The subsequent recovery and growth in share price along with a partial restoration of the P/S ratio suggest enhanced investor confidence and recognition of the company’s improving sales and potential future profitability. The divergence between the rising sales per share and the relatively lower P/S ratio compared to early 2021 levels may imply cautious optimism or expectations of margin improvements or other value drivers in the future.
Price to Book Value (P/BV)
Uber Technologies Inc., historical P/BV 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,085,418,676 | 2,091,168,098 | 2,089,008,865 | 2,105,709,325 | 2,100,937,229 | 2,089,520,408 | 2,076,497,400 | 2,057,858,230 | 2,043,522,654 | 2,023,827,162 | 2,009,907,175 | 1,994,407,340 | 1,979,918,174 | 1,963,660,253 | 1,954,464,088 | 1,940,118,248 | 1,884,346,863 | 1,871,760,070 | ||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Total Uber Technologies, Inc. stockholders’ equity (in millions) | 22,598) | 21,975) | 21,558) | 14,780) | 12,350) | 11,058) | 11,249) | 9,358) | 8,664) | 7,508) | 7,340) | 6,247) | 6,661) | 8,916) | 14,458) | 13,931) | 14,175) | 13,598) | ||||||
| Book value per share (BVPS)2 | 10.84 | 10.51 | 10.32 | 7.02 | 5.88 | 5.29 | 5.42 | 4.55 | 4.24 | 3.71 | 3.65 | 3.13 | 3.36 | 4.54 | 7.40 | 7.18 | 7.52 | 7.26 | ||||||
| Share price1, 3 | 89.22 | 83.65 | 79.42 | 72.05 | 64.87 | 66.40 | 81.39 | 49.92 | 46.96 | 37.84 | 34.20 | 28.81 | 31.85 | 26.83 | 34.87 | 45.51 | 43.07 | 46.65 | ||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | 8.23 | 7.96 | 7.70 | 10.26 | 11.04 | 12.55 | 15.02 | 10.98 | 11.08 | 10.20 | 9.36 | 9.20 | 9.47 | 5.91 | 4.71 | 6.34 | 5.73 | 6.42 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| FedEx Corp. | 2.51 | 2.70 | 2.70 | 2.47 | 2.61 | 2.37 | 2.45 | 2.07 | 1.72 | 1.60 | 2.27 | 2.41 | 2.53 | 2.75 | 3.26 | 3.18 | 3.68 | 3.19 | ||||||
| Union Pacific Corp. | 8.04 | 8.03 | 8.66 | 8.44 | 8.70 | 9.49 | 10.29 | 9.16 | 10.99 | 9.92 | 10.34 | 9.76 | 10.41 | 12.90 | 10.90 | 10.68 | 10.01 | 8.91 | ||||||
| United Airlines Holdings Inc. | 2.21 | 1.73 | 2.38 | 2.07 | 1.45 | 1.74 | 1.60 | 1.34 | 2.41 | 2.21 | 2.32 | 2.61 | 3.09 | 4.58 | 3.06 | 2.74 | 3.16 | 3.17 | ||||||
| United Parcel Service Inc. | 4.64 | 5.08 | 5.90 | 6.78 | 6.20 | 7.41 | 7.32 | 6.21 | 7.71 | 7.54 | 7.75 | 8.39 | 10.31 | 10.42 | 12.76 | 15.21 | 15.53 | 26.13 | ||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Total Uber Technologies, Inc. stockholders’ equity ÷ No. shares of common stock outstanding
= 22,598,000,000 ÷ 2,085,418,676 = 10.84
3 Closing price as at the filing date of Uber Technologies Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 89.22 ÷ 10.84 = 8.23
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited notable volatility over the observed period. Initially, the price declined from $46.65 in March 2021 to a low of $26.83 by March 2022. Subsequently, it recovered steadily, reaching $81.39 in December 2023. After a minor dip in early 2024, the share price resumed an upward trajectory, culminating at $89.22 by June 2025. This pattern indicates a period of initial depreciation followed by a sustained and robust appreciation in market value.
- Book Value Per Share (BVPS) Trend
- The BVPS reflected a downward shift from $7.26 in March 2021 to a trough of $3.13 in September 2022. Thereafter, the book value per share improved consistently, climbing to $10.84 by June 2025. This recovery and growth in BVPS suggest strengthening equity positions and improved asset base over time.
- Price-to-Book Value (P/BV) Ratio Analysis
- The P/BV ratio started at 6.42 in March 2021, experienced fluctuations with peaks near 15.02 in December 2023, and subsequent decreases to about 7.70 by December 2024, before stabilizing around 8.23 in mid-2025. The high P/BV ratios observed during late 2023 reflect elevated market valuation relative to the company's book value, possibly indicating heightened investor optimism or expectations of growth. The subsequent moderation implies either a correction in valuation or an increase in book value exceeding share price growth.
- Overall Insights
- Initially, the company witnessed a weakening in both market price and book value per share, representative of potential operational or market challenges. However, from late 2022 onwards, there was a marked recovery in both book value and share price, signifying improved financial health and positive market sentiment. The elevated P/BV ratio during the peak period highlights episodes where market price outpaced fundamental book value gains, hinting at increased investor confidence or speculative factors. The gradual normalization of the P/BV ratio suggests a more balanced valuation grounded in improved fundamental metrics.