Uber Technologies, Inc.
- What it sells
- Mobility is 57% of revenue (fiscal year to Dec 2025), up from 53% two years earlier.
- Growing?
- Yes: revenue up 10% on a year earlier (quarter ended Sep 2026); earnings per share down 78% over the last four quarters.
- Expensive?
- About usual: 40.7× trailing earnings; its median since Oct 2023 is 17.5×.
- Analysts?
- 82% of 51 say buy; average 12-month target $99.17, 43% above today's price.
- Risky?
- Swingier than most large companies: its price swung 35% over the past year (the S&P 500's 14%), and it fell as much as 55% since Nov 2021.
Uber Technologies, Inc. operates the Uber platform that connects consumers with drivers/couriers for on-demand Mobility (ride-hailing) and Delivery (Uber Eats, grocery/retail), and with shippers/carriers via Uber Freight.
More about Uber Technologies
Revenue is primarily generated from platform fees (take rate) on trips/orders and advertising within Delivery, with some subscription revenue from Uber One.
Market Position
Uber is one of the largest global ride-hailing and on-demand delivery platforms, benefiting from a two-sided marketplace that can improve liquidity (more riders ↔ more drivers; more eaters ↔ more couriers/restaurants). Key differentiators include broad geographic scale, multi-product engagement (Mobility + Delivery), and demand-generation tools such as dynamic pricing and promotions.
Key Segments
Uber reports results across Mobility, Delivery, and Freight, each leveraging the same core marketplace, mapping, and payments infrastructure while serving different demand types (rides vs. meals/goods vs. shipping).
How has the stock done?
Over the past month UBER fell 3.3%; the technology ETF (XLK) fell 11.5% and the S&P 500 fell 2.7%.
Over the past six months UBER fell 9.5%; the technology ETF (XLK) fell 0.8% and the S&P 500 rose 2.6%.
Over the past year UBER fell 26.1%; the technology ETF (XLK) rose 18.2% and the S&P 500 rose 10.8%.
Over five years UBER rose 53.2%; the technology ETF (XLK) rose 107.7% and the S&P 500 rose 62.0%.
From Nov 8, 2021 to Jun 30, 2022, the deepest drop from a high since Nov 2021
How much the price swings in a year; the S&P 500's was 14%
When the S&P 500 moves 1%, the stock has moved about 0.8% the same way
Show the earnings releases
| Released | Quarter | Revenue | EPS vs estimate | Stock, day after | 5 days after |
|---|---|---|---|---|---|
| Nov 4, 2026 | ended Sep 2026 | $14.8B (+10% vs a year earlier) | $0.25 vs $0.90 (missed) | +3.3% | +6.1% |
| Aug 5, 2026 | ended Jun 2026 | $14.2B (+12% vs a year earlier) | $1.17 vs $0.83 (beat) | −2.1% | +4.7% |
| May 6, 2026 | ended Mar 2026 | $13.2B (+14% vs a year earlier) | $0.13 vs $0.71 (missed) | +5.2% | +2.4% |
| Feb 4, 2026 | ended Dec 2025 | $14.4B (+20% vs a year earlier) | $0.14 vs $0.78 (missed) | −3.5% | −8.9% |
| Nov 4, 2025 | ended Sep 2025 | $13.5B (+20% vs a year earlier) | — | −7.0% | −6.1% |
| Aug 6, 2025 | ended Jun 2025 | $12.7B (+18% vs a year earlier) | — | +3.7% | +1.6% |
| May 7, 2025 | ended Mar 2025 | $11.5B (+14% vs a year earlier) | — | −4.1% | +5.3% |
| Feb 5, 2025 | ended Dec 2024 | $12.0B (+20% vs a year earlier) | — | +0.3% | +13.8% |
| Oct 31, 2024 | ended Sep 2024 | $11.2B (+20% vs a year earlier) | — | −7.8% | −7.9% |
| Aug 6, 2024 | ended Jun 2024 | $10.7B (+16% vs a year earlier) | — | +12.1% | +21.5% |
| May 8, 2024 | ended Mar 2024 | $10.1B (+15% vs a year earlier) | — | −3.5% | −5.4% |
| Feb 7, 2024 | ended Dec 2023 | $9.9B (+15% vs a year earlier) | — | +1.6% | +12.3% |
| Nov 7, 2023 | ended Sep 2023 | $9.3B (+11% vs a year earlier) | — | +2.8% | +11.9% |
| Aug 1, 2023 | ended Jun 2023 | $9.2B (+14% vs a year earlier) | — | −5.1% | −8.7% |
| May 2, 2023 | ended Mar 2023 | $8.8B (+29% vs a year earlier) | — | +15.6% | +16.6% |
| Feb 8, 2023 | ended Dec 2022 | $8.6B (+49% vs a year earlier) | — | +2.8% | +3.8% |
| Nov 1, 2022 | ended Sep 2022 | $8.3B (+72% vs a year earlier) | — | +8.4% | +3.3% |
| Aug 2, 2022 | ended Jun 2022 | $8.1B (+105% vs a year earlier) | — | +22.7% | +26.3% |
| May 4, 2022 | ended Mar 2022 | $6.9B (+136% vs a year earlier) | — | −9.0% | −23.4% |
| Feb 9, 2022 | ended Dec 2021 | $5.8B (+83% vs a year earlier) | — | −1.5% | −4.6% |
Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.
Is the business growing?
Revenue was $14.8B in the quarter ended Sep 2026, up 10% from a year earlier.
Show the data
| Quarter ended | Revenue | vs a year earlier |
|---|---|---|
| Dec 2022 | $8.6B | +49% |
| Mar 2023 | $8.8B | +29% |
| Jun 2023 | $9.2B | +14% |
| Sep 2023 | $9.3B | +11% |
| Dec 2023 | $9.9B | +15% |
| Mar 2024 | $10.1B | +15% |
| Jun 2024 | $10.7B | +16% |
| Sep 2024 | $11.2B | +20% |
| Dec 2024 | $12.0B | +20% |
| Mar 2025 | $11.5B | +14% |
| Jun 2025 | $12.7B | +18% |
| Sep 2025 | $13.5B | +20% |
| Dec 2025 | $14.4B | +20% |
| Mar 2026 | $13.2B | +14% |
| Jun 2026 | $14.2B | +12% |
| Sep 2026 | $14.8B | +10% |
Revenue went from $31.9B in FY22 to $52.0B in FY25; net income from −$9.1B to $10.1B.
Show the data
| Fiscal year | Revenue | Net income |
|---|---|---|
| FY22 | $31.9B | −$9.1B |
| FY23 | $37.3B | $1.9B |
| FY24 | $44.0B | $9.9B |
| FY25 | $52.0B | $10.1B |
In the fiscal year to Dec 2025, Mobility was 57% and Delivery was 33% of revenue; Freight fell from 14% in the fiscal year to Dec 2023.
Show the data
| Fiscal year | Part | Revenue | Share |
|---|---|---|---|
| FY2023 | Mobility | $19.8B | 53% |
| FY2023 | Delivery | $12.2B | 33% |
| FY2023 | Freight | $5.2B | 14% |
| FY2024 | Mobility | $25.1B | 57% |
| FY2024 | Delivery | $13.8B | 31% |
| FY2024 | Freight | $5.1B | 12% |
| FY2025 | Mobility | $29.7B | 57% |
| FY2025 | Delivery | $17.2B | 33% |
| FY2025 | Freight | $5.1B | 10% |
A year earlier $3.11
Diluted, from SEC filings
Quarters: Uber Technologies, Inc.'s SEC filings, named by the month they end. Fiscal years: Uber Technologies, Inc.'s annual reports to the SEC.
How it makes money
Of every $100 in revenue, $19.3 ends up as net income. Net margin rose from −28.7% to 19.3% over the past 3 years.
+1.4 pts over 3 years
+16.4 pts over 3 years
+48.0 pts over 3 years
Each margin is that line of the income statement divided by revenue. Fiscal year: Uber Technologies, Inc.'s annual reports to the SEC.
Customers and suppliers
In its latest annual report Uber Technologies buys from Lucid, Alphabet. It sells through the platforms of Apple, Alphabet. Alphabet sells through its platform.
Their suppliers
Suppliers
UBERUber TechnologiesPartners
Lucid LCIDUber Technologies invested in it · Uber holds equity investment
Didi DIDIYUber Technologies invested in it · Uber holds equity investment
Grab GRABUber Technologies invested in it · Uber holds equity investment
Lime LIMEUber Technologies invested in it · Uber holds common stock and convertible note
Apple AAPLChanges since the previous annual report (10-K filed Feb 14, 2025)
Lucid LCIDNamed for the first time, as a supplier and a partnerMinimum 20,000 vehicles over six years following production start targeted for 2026; agreement July 2025Named in other companies’ filings
Aurora Innovation AURUber Technologies invested in it · Invests and supports self-driving ride-hailing commercialization$400 million investment concurrent with self-driving-unit acquisition
Nebius Group NBISUber Technologies invested in it · Invests in Avride; deploys autonomous servicesParticipated in investment of up to $375 million, October 2025
Joby Aviation JOBYUber Technologies invested in it · Invests and integrates aerial and ground transportation
Rivian RIVNco-develops with it · Develops, deploys, and operates autonomous vehicles together · 8-K, Mar 19, 2026Show the filing's words
| Company | Role | In the filing's words |
|---|---|---|
| Yandex | partner · licensing deal with it | “For example, we have licensed our brand in connection with certain divestitures and joint ventures, including to Yandex in Russia/CIS, and while we have certain contractual protections in place governing the use of our brand by these companies, we do not control these businesses, we are not able to anticipate their actions, and consumers may not be aware that these service providers are not controlled by us.” |
| Alphabet | on platform · sells through Uber Technologies | “Waymo has introduced a commercialized ridehailing fleet of autonomous vehicles on its own platform in addition to a fleet of autonomous vehicles that it makes available through our platform, and it is possible that our competitors could introduce autonomous vehicle offerings earlier than we will be able to offer autonomous vehicles on our platform or that our commercial partnerships could expire or that our autonomous vehicle partners could experience organizational failures of their own or otherwise remove their vehicles from our platform.” |
| Apple | platform · Uber Technologies sells through it | “Our platform relies on third parties maintaining open marketplaces, including the Apple App Store and Google Play, which make applications available for download.” |
| Alphabet | platform · Uber Technologies sells through it | “Our platform relies on third parties maintaining open marketplaces, including the Apple App Store and Google Play, which make applications available for download.” |
| Aurora | partner · Uber Technologies invested in it | “Net income attributable to Uber Technologies, Inc. was $10.1 billion, which includes: (i) a $5.0 billion benefit from the release of our Netherlands’ deferred tax assets valuation allowance and (ii) the unfavorable impact of a pre-tax unrealized loss on debt and equity securities, net, of $97 million primarily related to changes in the fair value of our equity securities, including: a $802 million net unrealized loss on our Aurora investment, a $155 million net unrealized loss on our Lucid investment, partially offset by a $409 million net unrealized gain on our Didi investment, a $179 million net unrealized gain on our Waabi investment, and a $145 million net unrealized gain on our Grab investment.” |
| Lucid | partner · Uber Technologies invested in it | “Net income attributable to Uber Technologies, Inc. was $10.1 billion, which includes: (i) a $5.0 billion benefit from the release of our Netherlands’ deferred tax assets valuation allowance and (ii) the unfavorable impact of a pre-tax unrealized loss on debt and equity securities, net, of $97 million primarily related to changes in the fair value of our equity securities, including: a $802 million net unrealized loss on our Aurora investment, a $155 million net unrealized loss on our Lucid investment, partially offset by a $409 million net unrealized gain on our Didi investment, a $179 million net unrealized gain on our Waabi investment, and a $145 million net unrealized gain on our Grab investment.” |
| Didi | partner · Uber Technologies invested in it | “Net income attributable to Uber Technologies, Inc. was $10.1 billion, which includes: (i) a $5.0 billion benefit from the release of our Netherlands’ deferred tax assets valuation allowance and (ii) the unfavorable impact of a pre-tax unrealized loss on debt and equity securities, net, of $97 million primarily related to changes in the fair value of our equity securities, including: a $802 million net unrealized loss on our Aurora investment, a $155 million net unrealized loss on our Lucid investment, partially offset by a $409 million net unrealized gain on our Didi investment, a $179 million net unrealized gain on our Waabi investment, and a $145 million net unrealized gain on our Grab investment.” |
| Waabi | partner · Uber Technologies invested in it | “Net income attributable to Uber Technologies, Inc. was $10.1 billion, which includes: (i) a $5.0 billion benefit from the release of our Netherlands’ deferred tax assets valuation allowance and (ii) the unfavorable impact of a pre-tax unrealized loss on debt and equity securities, net, of $97 million primarily related to changes in the fair value of our equity securities, including: a $802 million net unrealized loss on our Aurora investment, a $155 million net unrealized loss on our Lucid investment, partially offset by a $409 million net unrealized gain on our Didi investment, a $179 million net unrealized gain on our Waabi investment, and a $145 million net unrealized gain on our Grab investment.” |
| Grab | partner · Uber Technologies invested in it | “Net income attributable to Uber Technologies, Inc. was $10.1 billion, which includes: (i) a $5.0 billion benefit from the release of our Netherlands’ deferred tax assets valuation allowance and (ii) the unfavorable impact of a pre-tax unrealized loss on debt and equity securities, net, of $97 million primarily related to changes in the fair value of our equity securities, including: a $802 million net unrealized loss on our Aurora investment, a $155 million net unrealized loss on our Lucid investment, partially offset by a $409 million net unrealized gain on our Didi investment, a $179 million net unrealized gain on our Waabi investment, and a $145 million net unrealized gain on our Grab investment.” |
| Lucid | supplier | “In July 2025, we agreed to purchase, or have our designated fleet operators purchase, a minimum of 20,000 Lucid vehicles equipped with Nuro’s Level 4 autonomous driving systems over a six-year period following the start of production, which is targeted for 2026.” |
| Lime | partner · Uber Technologies invested in it | “(4) Consists of the Lime Convertible Note. Neutron Holdings, Inc. (“Lime”) is considered a related party as a result of our investment in Lime Common Stock.” |
| Delivery Hero | partner · Uber Technologies invested in it | “As of December 31, 2025, our investment in Delivery Hero was classified as a marketable equity security with a readily determinable fair value (Level 1) measured at fair value on a recurring basis.” |
| Careem Technologies | partner · Uber Technologies invested in it | “Upon closing of the transaction in December 2023, e& acquired a majority stake in Careem Technologies and we retained a minority ownership interest....Additionally, we received two seats on Careem Technologies’ board and retained an approximately 42% equity ownership interest consisting of common stock in Careem Technologies.” |
| Moove | partner · Uber Technologies invested in it | “As of December 31, 2024 and December 31, 2025, the term loan to Moove was $288 million and $384 million, respectively, and accounted for as a loan receivable, carried at amortized cost recorded within other assets on the consolidated balance sheets. In 2021, we entered into and completed a series of agreements with Moove, including (i) an equity investment, through preferred shares, (ii) a term loan to Moove, and (iii) a commercial partnership agreement.” |
| Alphabet | supplier | “Google Maps Master Agreement, by and between the Registrant and Google LLC, dated July 13, 2020.” |
| Aurora Innovation (10-K filed Feb 11, 2026) | calls it a customer | “In April 2025, we launched driverless commercial operations with Hirschbach and Uber Freight and have since expanded our driverless customer cohort.” |
| Aurora Innovation (10-K filed Feb 11, 2026) | Uber Technologies invested in it | “In addition to acquiring Uber’s self-driving unit, we announced a strategic partnership with Uber that connects our technology to the world’s leading ride-hailing platform and strengthens our position to deliver the Aurora Driver broadly. In support of our partnership with Uber, and concurrent with the acquisition of Uber’s self-driving unit, Uber invested $400 million in Aurora.” |
| Joby Aviation (10-K filed Feb 27, 2026) | Uber Technologies invested in it | “Our preparations for commercial passenger service also includes forming sector-leading relationships with partners such as Toyota, Uber, and Delta Air Lines, each of whom have invested in Joby.” |
| Nebius Group (20-F filed Apr 30, 2026) | Uber Technologies invested in it | “In October 2025, Uber participated alongside us in an investment of up to $375 million into Avride.” |
| Rivian (8-K filed Mar 19, 2026) | calls it a customer | “Uber has committed to purchase a minimum number of Company Vehicles during specified guarantee periods, with the purchase volume and pricing to be determined in accordance with the procedures set forth in the Master Framework Agreement and related ancillary agreements....Uber will also pay certain licensing fees in connection with its use of the Company’s Level 4 autonomous driving system software.” |
| Rivian (8-K filed Mar 19, 2026) | co-develops with it | “On the Effective Date, in connection with the execution and delivery of the Subscription Agreement, Rivian, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company ("Subsidiary"), entered into a Master Framework Agreement (the "Master Framework Agreement") by and among the Subsidiary, the Company and Uber, governing the collaboration between Subsidiary and Uber to develop, deploy, and operate autonomous vehicles on the Uber platform.” |
Only the companies Uber Technologies names in its 10-K filed Feb 13, 2026 (SEC). Named in other companies' filings: those whose own latest annual report or an 8-K since names Uber Technologies. The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Platforms: an app store, a console maker or a marketplace one company sells through and pays a share or a fee; not supply, so not on the chain. Hover a name for the filing's own words.
Is it expensive?
P/E of 40.7x; earnings are still growing. No peers to compare against.
No peers with a P/E to compare against.
Yahoo Finance's Software - Application list is another business, and this site has too few other companies in its StockFit industry group, Ride-Hailing & Delivery, near it in market value, so Uber Technologies is not compared with peers.
At 40.7× trailing earnings UBER is inside the middle of its range since Oct 2023; the median is 17.5×.
Show the data
| Date | Trailing P/E |
|---|---|
| Nov 6, 2023 | 96.3× |
| Feb 7, 2024 | 82.2× |
| May 8, 2024 | 107× |
| Aug 8, 2024 | 75.8× |
| Nov 6, 2024 | 37.0× |
| Feb 10, 2025 | 17.2× |
| May 12, 2025 | 15.4× |
| Aug 12, 2025 | 15.6× |
| Nov 10, 2025 | 12.1× |
| Feb 11, 2026 | 15.0× |
| May 13, 2026 | 18.6× |
| Aug 13, 2026 | 16.6× |
| Nov 11, 2026 | 41.6× |
| Nov 12, 2026 | 40.7× |
Closing price over diluted earnings per share of the last four reported quarters, as known on each day (a quarter counts 35 days after it ends). From SEC filings; earnings per share adjusted for splits.
What analysts expect
The average analyst price target is $99.17, 43% above the current price; 82% of 51 analysts rate it a buy; earnings beat estimates in 1 of the last 4 quarters.
Buy or Strong Buy: 42 analysts (82%). Sell or Strong Sell: 1.
Over the past year the average of the analysts' latest price targets went from $111.21 to $100.30 (−10%), while UBER went from $91.78 to $69.12 (−25%). In the past three months targets were raised twice and cut 8 times. 2 upgrades and no downgrades over the year; the latest: Citizens moved it to Market Outperform from Market Perform on Feb 5, 2026.
Show every change
| Date | Firm | Change | Rating | Target |
|---|---|---|---|---|
| Nov 6, 2026 | UBS | Target raised | Buy | $107.00, was $106.00 |
| Nov 5, 2026 | Rosenblatt | Target cut | Buy | $95.00, was $100.00 |
| Nov 5, 2026 | Barclays | Target cut | Overweight | $100.00, was $106.00 |
| Nov 5, 2026 | Bernstein | Target cut | Outperform | $90.00, was $95.00 |
| Nov 5, 2026 | Wells Fargo | Target cut | Overweight | $87.00, was $92.00 |
| Nov 5, 2026 | Guggenheim | Target kept | Buy | $125.00 |
| Nov 5, 2026 | Keybanc | Target cut | Overweight | $95.00, was $105.00 |
| Nov 5, 2026 | Wedbush | Target kept | Outperform | $91.00 |
| Nov 5, 2026 | Needham | Target cut | Buy | $100.00, was $109.00 |
| Nov 5, 2026 | Cantor Fitzgerald | Target kept | Overweight | $90.00 |
| Nov 4, 2026 | BTIG | Target cut | Buy | $90.00, was $100.00 |
| Nov 2, 2026 | UBS | Target cut | Buy | $106.00, was $110.00 |
| Oct 16, 2026 | Guggenheim | Target kept | Buy | $125.00 |
| Oct 12, 2026 | Cantor Fitzgerald | Target kept | Overweight | $90.00 |
| Oct 7, 2026 | Citizens | Target kept | Market Outperform | $100.00 |
| Oct 7, 2026 | BTIG | Target kept | Buy | $100.00 |
| Oct 5, 2026 | Wells Fargo | Target raised | Overweight | $92.00, was $89.00 |
| Sep 9, 2026 | Scotiabank | Began coverage | Sector Outperform | $100.00 |
| Sep 8, 2026 | Wedbush | Target kept | Outperform | $91.00 |
| Sep 8, 2026 | StoneX | Rating kept | Hold | — |
| Sep 3, 2026 | Rosenblatt | Target kept | Buy | $100.00 |
| Sep 3, 2026 | BTIG | Target kept | Buy | $100.00 |
| Sep 1, 2026 | Rosenblatt | Began coverage | Buy | $100.00 |
| Aug 25, 2026 | Citizens | Target kept | Market Outperform | $100.00 |
| Aug 10, 2026 | Roth Capital | Target cut | Buy | $100.00, was $105.00 |
| Aug 10, 2026 | Jefferies | Target raised | Buy | $110.00, was $100.00 |
| Aug 6, 2026 | DA Davidson | Target cut | Buy | $100.00, was $107.00 |
| Aug 6, 2026 | Wells Fargo | Target cut | Overweight | $89.00, was $100.00 |
| Aug 6, 2026 | Bernstein | Target cut | Outperform | $95.00, was $110.00 |
| Aug 6, 2026 | Barclays | Target cut | Overweight | $106.00, was $107.00 |
| Aug 6, 2026 | Guggenheim | Target kept | Buy | $125.00 |
| Aug 6, 2026 | Susquehanna | Target cut | Positive | $90.00, was $110.00 |
| Aug 6, 2026 | Cantor Fitzgerald | Target cut | Overweight | $90.00, was $98.00 |
| Aug 6, 2026 | Needham | Target kept | Buy | $109.00 |
| Jul 28, 2026 | B of A Securities | Target cut | Buy | $103.00, was $104.00 |
| Jul 17, 2026 | TD Cowen | Target kept | Buy | $118.00 |
| Jul 16, 2026 | BTIG | Target kept | Buy | $100.00 |
| Jul 14, 2026 | BTIG | Target kept | Buy | $100.00 |
| Jul 14, 2026 | Keybanc | Target cut | Overweight | $105.00, was $110.00 |
| Jul 6, 2026 | Wells Fargo | Target cut | Overweight | $100.00, was $102.00 |
| Jun 26, 2026 | BTIG | Target kept | Buy | $100.00 |
| Jun 12, 2026 | Tigress Financial | Target raised | Buy | $115.00, was $110.00 |
| May 28, 2026 | BTIG | Target kept | Buy | $100.00 |
| May 26, 2026 | DA Davidson | Target kept | Buy | $107.00 |
| May 7, 2026 | JP Morgan | Target raised | Overweight | $110.00, was $105.00 |
| May 7, 2026 | TD Cowen | Target raised | Buy | $118.00, was $114.00 |
| May 7, 2026 | Truist Securities | Target raised | Buy | $112.00, was $108.00 |
| May 7, 2026 | Wells Fargo | Target raised | Overweight | $102.00, was $95.00 |
| May 7, 2026 | Piper Sandler | Target raised | Overweight | $105.00, was $100.00 |
| May 7, 2026 | Needham | Target kept | Buy | $109.00 |
| May 6, 2026 | DA Davidson | Target raised | Buy | $107.00, was $105.00 |
| May 1, 2026 | UBS | Target cut | Buy | $110.00, was $111.00 |
| Apr 28, 2026 | Citizens | Target kept | Market Outperform | $100.00 |
| Apr 27, 2026 | Guggenheim | Target kept | Buy | $125.00 |
| Mar 30, 2026 | Wells Fargo | Target cut | Overweight | $95.00, was $100.00 |
| Mar 17, 2026 | BTIG | Target kept | Buy | $100.00 |
| Mar 4, 2026 | BTIG | Target kept | Buy | $100.00 |
| Feb 23, 2026 | DA Davidson | Target cut | Buy | $105.00, was $108.00 |
| Feb 18, 2026 | Guggenheim | Target cut | Buy | $125.00, was $135.00 |
| Feb 6, 2026 | Citigroup | Target cut | Buy | $110.00, was $120.00 |
| Feb 5, 2026 | JP Morgan | Target cut | Overweight | $105.00, was $110.00 |
| Feb 5, 2026 | RBC Capital | Target kept | Outperform | $105.00 |
| Feb 5, 2026 | Wells Fargo | Target cut | Overweight | $100.00, was $122.00 |
| Feb 5, 2026 | Cantor Fitzgerald | Target cut | Overweight | $92.00, was $99.00 |
| Feb 5, 2026 | Morgan Stanley | Target cut | Overweight | $100.00, was $110.00 |
| Feb 5, 2026 | Citizens | Upgrade | Market Outperform, was Market Perform | $100.00 |
| Feb 5, 2026 | Benchmark | Rating kept | Hold | — |
| Feb 5, 2026 | Wedbush | Target cut | Neutral | $75.00, was $78.00 |
| Feb 5, 2026 | Mizuho | Target cut | Outperform | $110.00, was $130.00 |
| Feb 5, 2026 | Needham | Target kept | Buy | $109.00 |
| Feb 4, 2026 | BTIG | Target kept | Buy | $100.00 |
| Feb 3, 2026 | Needham | Target kept | Buy | $109.00 |
| Jan 27, 2026 | Stifel | Target cut | Buy | $105.00, was $122.00 |
| Jan 22, 2026 | Guggenheim | Target kept | Buy | $135.00 |
| Jan 20, 2026 | Keybanc | Target cut | Overweight | $105.00, was $110.00 |
| Jan 15, 2026 | BTIG | Target kept | Buy | $100.00 |
| Jan 8, 2026 | Cantor Fitzgerald | Target cut | Overweight | $99.00, was $108.00 |
| Jan 8, 2026 | Wells Fargo | Target raised | Overweight | $122.00, was $120.00 |
| Jan 6, 2026 | Wolfe Research | Target cut | Outperform | $110.00, was $125.00 |
| Dec 19, 2025 | Wedbush | Target cut | Neutral | $78.00, was $84.00 |
| Dec 8, 2025 | Morgan Stanley | Target cut | Overweight | $110.00, was $115.00 |
| Dec 3, 2025 | Arete Research | Upgrade | Buy, was Neutral | $125.00, was $82.00 |
Show the data
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| Dec ’25 | $0.78 | $0.14 | −82.1% |
| Mar ’26 | $0.71 | $0.13 | −81.7% |
| Jun ’26 | $0.83 | $1.17 | +41.0% |
| Sep ’26 | $0.90 | $0.25 | −72.2% |
The day after each of these reports the stock moved −3.5% (Dec 2025, missed); +5.2% (Mar 2026, missed); −2.1% (Jun 2026, beat); +3.3% (Sep 2026, missed).
For the quarter ending Dec 2026 (Uber Technologies reports on Feb 3, 2027), analysts expect revenue of $15.7B, up 9% on a year earlier. For the fiscal year ending Dec 2027, they expect adjusted earnings of $4.41 a share, and revenue of $66.9B, up 16% on the year before's estimate.
Dec 2025: $14.4B; range $15.3B to $16.0B; 40 analysts
Adjusted. The year to Dec 2026: $2.62 expected, with a quarter far from its estimate; range $3.20 to $5.62; 39 analysts
The year to Dec 2026: $57.8B expected; range $59.2B to $69.6B; 48 analysts
Show the data
| Period | Figure | Expected | Low to high | Analysts | A year earlier | Change |
|---|---|---|---|---|---|---|
| Quarter ending Dec 2026, results Feb 3, 2027 | Revenue | $15.7B | $15.3B to $16.0B | 40 | $14.4B (Dec 2025) | +9% |
| Quarter ending Mar 2027 | EPS (adjusted) | $0.96 | $0.80 to $1.16 | 22 | $0.13 (Mar 2026) | — |
| Quarter ending Mar 2027 | Revenue | $15.5B | $15.0B to $15.9B | 26 | $13.2B (Mar 2026) | +17% |
| Year ending Dec 2026 | EPS (adjusted) | $2.62 | $2.25 to $3.31 | 35 | — | — |
| Year ending Dec 2026 | Revenue | $57.8B | $57.2B to $58.2B | 47 | $52.0B (year to Dec 2025) | +11% |
| Year ending Dec 2027 | EPS (adjusted) | $4.41 | $3.20 to $5.62 | 39 | $2.62 (expected, year to Dec 2026) | — |
| Year ending Dec 2027 | Revenue | $66.9B | $59.2B to $69.6B | 48 | $57.8B (expected, year to Dec 2026) | +16% |
Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.
Where the cash goes
Generated $10.4B in free cash flow over the year, of which $6.2B went back to shareholders (dividends plus buybacks), leaving $4.2B in the company.
Show the data
| Line | Amount |
|---|---|
| Op. cash flow | $10.7B |
| Capex | −$320M |
| Free cash flow | $10.4B |
| Dividends | — |
| Buybacks | −$6.2B |
| Cash retained | $4.2B |
For every $100 of market cap, the company generates about $7.4 in free cash flow a year.
No dividend today; cash goes to growth and share buybacks.
Dividends plus buybacks over the last four quarters: for every $100 of market cap, about $4.4 went back to shareholders.
Show the data
| Quarter ended | Free cash flow | Dividends | Buybacks |
|---|---|---|---|
| Dec 2023 | $768M | — | $0 |
| Mar 2024 | $1.4B | — | $0 |
| Jun 2024 | $1.7B | — | $325M |
| Sep 2024 | $2.1B | — | $372M |
| Dec 2024 | $1.7B | — | $555M |
| Mar 2025 | $2.2B | — | $1.8B |
| Jun 2025 | $2.5B | — | $1.4B |
| Sep 2025 | $2.2B | — | $1.5B |
| Dec 2025 | $2.8B | — | $1.9B |
| Mar 2026 | $2.3B | — | $3.0B |
| Jun 2026 | $2.8B | — | $518M |
| Sep 2026 | $2.5B | — | $750M |
Uber Technologies had 2.05B diluted shares in the quarter ended Sep 2026, 3.5% fewer than a year earlier, and 2.6% more each year on average since Sep 2020. It spent $6.2B on buybacks over the last four quarters. Over the last four quarters its earnings per share fell 78.1% and its net income fell 79.2%: fewer shares added about 1 point.
Show the data
| Quarter ended | Diluted shares |
|---|---|
| Sep 2020 | 1.76B |
| Mar 2021 | 1.86B |
| Jun 2021 | 1.96B |
| Sep 2021 | 1.90B |
| Mar 2022 | 1.96B |
| Jun 2022 | 1.97B |
| Sep 2022 | 1.98B |
| Mar 2023 | 2.01B |
| Jun 2023 | 2.08B |
| Sep 2023 | 2.11B |
| Mar 2024 | 2.08B |
| Jun 2024 | 2.15B |
| Sep 2024 | 2.15B |
| Dec 2024 | 2.14B |
| Mar 2025 | 2.12B |
| Jun 2025 | 2.13B |
| Sep 2025 | 2.12B |
| Mar 2026 | 2.07B |
| Jun 2026 | 2.05B |
| Sep 2026 | 2.05B |
Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.
Financial health
Current ratio 1.1, short-term debt is manageable; debt-to-equity 0.4, debt is very low and the balance sheet is solid.
Assets that can be turned into cash soon are 1.1x what is owed within a year. 1.5 or higher is comfortable; below 1 needs watching.
For every $1 of shareholder funds, there is $0.4 of debt (leases not counted). The higher the number, the more pressure when the economy weakens.
Cash and short-term investments of $7.6B against debt of $10.5B. Lease obligations of $1.6B are not counted: they are rent owed, not money borrowed. It also holds $9.3B of long-term investments, $9.1B of them securities it could sell.
Latest fiscal year balance sheet. Source: Yahoo Finance.
Who holds it
In the filings of 4 members of Congress and 15 funds whose copy leaves UBER out (not traded on the exchange): Theleme Partners, Pershing Square Capital Management, Appaloosa, Altimeter Capital Management, Fundsmith, Blue Whale Capital and 13 more.
What did the funds Hunch tracks do?
Of the 83 funds whose 13F filings Hunch reads, 25 held UBER at the end of their latest quarter (for most, Q2 2026). Over that quarter 7 added shares, 13 cut, 2 bought new, 1 sold all and 3 held the same. The largest of them is Pershing Square Capital Management, 34.33M shares worth $2.5B at Jun 30, 2026, 14.6% more than a quarter earlier.
2 of them new holders
1 of them sold all
Show every fund
| Fund | Quarter | Shares | Value | Change in shares | Change | Filed |
|---|---|---|---|---|---|---|
| Pershing Square Capital Management | Q2 2026 | 34.33M | $2.5B | +4.37M | +15% | Aug 14, 2026 |
| Norges Bank | Q2 2026 vs Q4 2025 | 26.71M | $1.9B | −4.07M | −13% | Aug 12, 2026 |
| Fundsmith | Q2 2026 | 8.94M | $645M | +8.94M | New | Aug 14, 2026 |
| Appaloosa | Q2 2026 | 7.69M | $555M | +1.36M | +21% | Aug 14, 2026 |
| Altimeter Capital Management | Q2 2026 | 7.37M | $532M | −599,332 | −7.5% | Aug 14, 2026 |
| Gardner Russo & Quinn | Q3 2026 | 4.92M | $337M | −163,880 | −3.2% | Nov 12, 2026 |
| Swiss National Bank | Q3 2026 | 4.87M | $334M | −154,900 | −3.1% | Nov 12, 2026 |
| National Pension Service | Q3 2026 | 4.55M | $312M | −6,201 | −0.1% | Nov 12, 2026 |
| Canada Pension Plan Investment Board | Q2 2026 | 3.22M | $232M | −1.90M | −37% | Aug 14, 2026 |
| Theleme Partners | Q2 2026 | 3.20M | $231M | +13,300 | +0.4% | Aug 13, 2026 |
| Baillie Gifford & | Q3 2026 | 3.31M | $227M | −176,639 | −5.1% | Nov 9, 2026 |
| Renaissance Technologies | Q3 2026 | 2.01M | $138M | +2.01M | New | Nov 12, 2026 |
| Glenview Capital Management | Q2 2026 | 1.79M | $129M | +337,726 | +23% | Aug 14, 2026 |
| Korea Investment | Q2 2026 | 1.27M | $91.9M | −60,324 | −4.5% | Aug 12, 2026 |
| Soma Equity Partners | Q2 2026 | 839,107 | $60.5M | −731,623 | −47% | Aug 14, 2026 |
| Mirae Asset Global Investments | Q3 2026 | 676,063 | $46.3M | +125,105 | +23% | Nov 3, 2026 |
| Blue Whale Capital | Q2 2026 | 594,111 | $42.9M | −188,402 | −24% | Aug 13, 2026 |
| Polen Capital Management | Q2 2026 | 570,063 | $41.1M | −2.35M | −80% | Aug 4, 2026 |
| Nomura Holdings | Q2 2026 | 333,237 | $24.0M | +104,177 | +45% | Aug 14, 2026 |
| Nan Shan Life Insurance | Q2 2026 | 315,325 | $22.8M | −26,000 | −7.6% | Aug 14, 2026 |
| Tudor Investment Corp Et Al | Q2 2026 | 300,041 | $21.7M | 0 | 0.0% | Aug 14, 2026 |
| Tiger Global Management | Q2 2026 | 151,178 | $10.9M | 0 | 0.0% | Aug 14, 2026 |
| Markel Group | Q3 2026 | 142,500 | $9.8M | 0 | 0.0% | Oct 30, 2026 |
| Soros Fund Management | Q2 2026 | 90,337 | $6.5M | −223,872 | −71% | Aug 14, 2026 |
| Fisher Asset Management | Q3 2026 | 53,196 | $3.6M | +5,035 | +10% | Nov 6, 2026 |
| Bridgewater Associates | Q2 2026 | 0 | — | −35,245 | Sold all | Aug 14, 2026 |
From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of UBER at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.