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).
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- Income Statement
- Statement of Comprehensive Income
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2019
- Net Profit Margin since 2019
- Price to Earnings (P/E) since 2019
- Price to Sales (P/S) since 2019
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Historical Valuation Ratios (Summary)
Uber Technologies Inc., historical price multiples (quarterly data)
Based on: 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), 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).
- Price to Earnings (P/E) Ratio
-
The P/E ratio data is unavailable until the period ending December 31, 2023, after which it shows a declining trend. Starting at 97.47, it drops to 89.56 in the following quarter, then rises again to 99.82, before undergoing a consistent decline reaching 11.82 by the quarter ending March 31, 2025. This downward trajectory suggests improving earnings relative to price or increasing investor confidence in the company’s profitability over the most recent periods.
- Price to Operating Profit (P/OP) Ratio
-
Similar to the P/E ratio, P/OP data becomes available from December 31, 2023. It begins at a high value of 325.09 and decreases significantly to 152.26, then further to 89.86, indicating improving operating profitability or better market valuation relative to operating profit. After a slight increase to 59.27 in June 2025, the ratio stabilizes around the 40s level through December 2024 to March 2025, suggesting a more stable relationship between price and operating profit.
- Price to Sales (P/S) Ratio
-
Over the entire period analyzed, the P/S ratio shows a clear overall downward trend from 8.09 in March 2021 to a range near 2.0 during 2021-2022. After reaching a low around 1.98 to 2.16 in late 2021 through 2022, it starts gradually increasing from early 2023 onwards, climbing back above 4.0 by December 2023 and fluctuating around 3.6 to 3.97 through the first quarter of 2025. This pattern reflects changing investor sentiment regarding sales relative to stock price, showing initial correction then renewed optimism.
- Price to Book Value (P/BV) Ratio
-
The P/BV ratio exhibits volatility within the observed timeline. Starting at 6.42 in March 2021, it decreases to 4.71 by December 2021, then experiences upward movements, peaking notably at 15.02 in December 2023. Post this peak, the ratio declines steadily, dropping to 6.99 by March 2025. Such movements may indicate fluctuating market perceptions of the company’s net asset value and how it is being valued relative to its book equity, with a pronounced premium near the end of 2023 followed by normalization.
Price to Earnings (P/E)
Uber Technologies Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (loss) attributable to Uber Technologies, Inc. (in millions) | |||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| FedEx Corp. | |||||||||||||||||||||||||
| Union Pacific Corp. | |||||||||||||||||||||||||
| United Airlines Holdings Inc. | |||||||||||||||||||||||||
| United Parcel Service Inc. | |||||||||||||||||||||||||
Based on: 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), 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 Q3 2025 Calculation
EPS
= (Net income (loss) attributable to Uber Technologies, Inc.Q3 2025
+ 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)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Uber Technologies Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals several noteworthy trends in the quarterly performance indicators of the company.
- Share Price
- The share price exhibited volatility over the periods observed. Initially, from the first quarter of 2021 through to early 2022, the share price declined from $46.65 to a low near $26.83, indicating a downward trend during this span. Subsequently, from mid-2022 onward, it began a recovery phase, steadily increasing and reaching its highest point at $94.67 by the third quarter of 2025. This upward trajectory suggests growing market confidence and improved valuation in the later periods.
- Earnings per Share (EPS)
- EPS data show notable improvement over time. The company reported negative EPS values during the early quarters, with a trough around -5.08 in the second quarter of 2022, indicating significant losses. Beginning in late 2022 and continuing through 2025, EPS turned positive and displayed consistent growth, climbing to 8.01 by the third quarter of 2025. This positive turnaround highlights enhanced profitability and operational efficiency moving forward.
- Price-to-Earnings (P/E) Ratio
- P/E ratio data, available from late 2023 onward, demonstrate a declining trend from 97.47 to 11.82 by the third quarter of 2025. This decrease reflects that while the share price rose, earnings grew at a faster pace, leading to a more reasonable and attractive valuation from an investment perspective. The reducing P/E indicates market alignment with the improving earnings performance.
In summary, the company's financial indicators suggest a recovery from earlier losses and market skepticism, evolving toward sustained profitability and enhanced investor confidence. The rising EPS coupled with increasing share prices and decreasing P/E ratios underline a positive operational and market outlook in the more recent periods analyzed.
Price to Operating Profit (P/OP)
Uber Technologies Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Income (loss) from operations (in millions) | |||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| FedEx Corp. | |||||||||||||||||||||||||
| Union Pacific Corp. | |||||||||||||||||||||||||
| United Airlines Holdings Inc. | |||||||||||||||||||||||||
| United Parcel Service Inc. | |||||||||||||||||||||||||
Based on: 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), 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 Q3 2025 Calculation
Operating profit per share
= (Income (loss) from operationsQ3 2025
+ Income (loss) from operationsQ2 2025
+ Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Uber Technologies Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in key performance indicators over the examined periods.
- Share Price
- The share price exhibited a fluctuating yet overall upward trajectory throughout the timeline. Initially, the price saw a decline from $46.65 at the end of March 2021 to a low of $26.83 by the end of March 2022. From this point onwards, a steady increase is observed, with the price climbing sharply to reach $81.39 by December 2023. Subsequent quarters show continued growth with the share price peaking at $94.67 by September 2025. This pattern indicates regained investor confidence and potentially improved market perceptions over the later periods.
- Operating Profit Per Share (OPPS)
- The operating profit per share started with negative values, indicating operating losses, at -$2.74 in March 2021, progressively improving quarter over quarter. The losses decreased in magnitude until turning positive in September 2023 with $0.15 per share. Thereafter, operating profitability continued its trend upwards, reaching $2.20 by the end of September 2025. This trend demonstrates a successful transition from operating losses to sustainable operating profitability over the examined periods.
- Price to Operating Profit Ratio (P/OP)
- The Price to Operating Profit ratio appeared only from September 2023 onward, reflecting the point at which operating profit turned positive. Initially, this ratio was extremely high at 325.09 in September 2023, indicative of high valuation relative to operating profit. The ratio declined consistently through subsequent quarters, reaching 43.13 by September 2025, suggesting improved earnings relative to share price and a normalization of market valuation metrics.
In summary, the data indicates an initial phase marked by declining market valuations and operating losses, followed by a clear and sustained recovery characterized by increasing share prices and operating profitability. The reduction in the P/OP ratio further supports the narrative of a maturing and improving financial position, with market valuations becoming more aligned with the company’s operational performance over time.
Price to Sales (P/S)
Uber Technologies Inc., historical P/S calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Revenue (in millions) | |||||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| FedEx Corp. | |||||||||||||||||||||||||
| Union Pacific Corp. | |||||||||||||||||||||||||
| United Airlines Holdings Inc. | |||||||||||||||||||||||||
| United Parcel Service Inc. | |||||||||||||||||||||||||
Based on: 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), 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 Q3 2025 Calculation
Sales per share
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Uber Technologies Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited fluctuations over the observed periods, beginning at $46.65 and experiencing a decline through 2021, reaching a low near $26.83 in early 2022. Subsequently, the price generally trended upward, with notable acceleration starting in late 2023, culminating in a substantial rise to approximately $94.67 by late 2025. This suggests increased market confidence or improved company performance toward the latter part of the timeline.
- Sales Per Share Trend
- Sales per share steadily increased across all periods, from $5.77 initially to $23.88 by the last period, indicating consistent growth in revenue attributed per share. The progression appears smooth without significant volatility, reflecting a stable enhancement in sales performance over time.
- Price-to-Sales (P/S) Ratio
- The P/S ratio demonstrated a marked contraction from an initial high of 8.09 down to a low near 1.98 in late 2022, signaling a possible undervaluation or heightened sales relative to price during that interval. Post-2022, the ratio rose again, peaking at 4.53 by late 2023, before moderating to around 3.97 by late 2025. Overall, this ratio indicates periods of both valuation adjustment and recovery, aligning partially with share price and sales trends.
- Comprehensive Insights
- Initially, the share price decline coupled with rising sales per share suggests that the market may have been cautious despite improving sales. The decreasing P/S ratio during this phase implies either conservative market expectations or temporary pressure on valuation. The subsequent share price recovery, combined with steadily growing sales and a rebounding P/S ratio, points to restored investor optimism and balanced valuation relative to sales growth. Such patterns suggest the company strengthened its financial standing and market perception over time, supported by consistent sales expansion and improved pricing dynamics.
Price to Book Value (P/BV)
Uber Technologies Inc., historical P/BV calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Total Uber Technologies, Inc. stockholders’ equity (in millions) | |||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| FedEx Corp. | |||||||||||||||||||||||||
| Union Pacific Corp. | |||||||||||||||||||||||||
| United Airlines Holdings Inc. | |||||||||||||||||||||||||
| United Parcel Service Inc. | |||||||||||||||||||||||||
Based on: 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), 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 Q3 2025 Calculation
BVPS = Total Uber Technologies, Inc. stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Uber Technologies Inc. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited significant fluctuations over the periods analyzed. Initially, it declined from $46.65 at the end of Q1 2021 to a low of $26.83 by Q1 2022. Subsequently, a moderate recovery occurred with some volatility, reaching $46.96 by Q2 2023. Following this, the share price experienced a strong upward trend, peaking at $94.67 by Q3 2025. This indicates increased market confidence and potentially improved underlying business performance or market conditions in the later periods.
- Book Value Per Share (BVPS) Trend
- Book value per share displayed a declining trend in the early periods, falling from $7.26 in Q1 2021 to a trough of $3.13 in Q3 2022. From that point onward, BVPS steadily increased, reaching $13.54 by Q3 2025. This recovery and subsequent growth may signify strengthening of the company’s net asset position, improved profitability, or retention of earnings over time.
- Price-to-Book Value Ratio (P/BV) Trend
- The P/BV ratio showed variability reflecting the interplay between share price and book value movements. Initially, P/BV decreased from 6.42 in Q1 2021 to 4.71 in Q4 2021, coinciding with a drop in share price and relatively stable BVPS. Following a rise in share price combined with a declining BVPS through mid-2022, the ratio escalated sharply, peaking at 15.02 in Q4 2023. Subsequently, the ratio declined steadily to 6.99 by Q3 2025. The peak in P/BV suggests the market price substantially exceeded book value during late 2023, possibly due to heightened investor optimism or speculative factors. The ensuing reduction toward the end of the timeline points to a rebalancing where book value catch-up or share price moderation occurred.
- Overall Insights
- The analyzed data highlights a period of initial strain with decreasing book value and share price, followed by a sustained recovery and growth phase. The divergence and realignment between price and book value implied by the P/BV ratio suggest periods dominated by valuation adjustments and shifting investor sentiment. The steady improvement in book value per share in later periods is a positive indicator of the company’s fundamental strength, which appears to have supported the strong gain in share price observed subsequently.