At a glance
LYFT Inc is worth $6.19B, about 2 times its fiscal 2025 earnings. Revenue grew 9.2% to $6.32B in fiscal 2025, with 45.0% kept as profit; over 5 years it has grown 21.7% a year. It pays no dividend; it spent $550.0M buying back its shares over FY2021–FY2025. The stock returned −18.4% over the past year with dividends reinvested and −19.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 65.3% in the 2020 crash (S&P 500: 33.7%) and 74.9% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Lyft runs a ride-hailing app that connects people who need a ride with drivers who use their own or rented cars. Its annual report (Form 10-K) for fiscal 2025, which ended December 31, 2025, describes a broader mobility platform that also covers taxis, private hire vehicles, executive chauffeur services, car sharing, and shared bikes and scooters. Its main ridesharing rival is Uber.
Substantially all revenue comes from the ridesharing marketplace: Lyft collects service fees and commissions from drivers for using it. Other sources include Express Drive, which rents cars to drivers; bike and scooter rentals; sales of bike-share equipment and software; advertising; licensing and data deals; and Lyft Business, which offers ride programs to organizations. Revenue reached $6.32 billion in fiscal 2025, up 9.2% from the year before.
Lyft expanded beyond North America in 2025. In July it bought Freenow, a European app built around taxis, adding nine countries and more than 180 cities. In October it bought TBR Global Chauffeuring, a luxury chauffeur company. As of its February 2026 annual report, Lyft operated in thousands of cities across six continents. The report does not split revenue by segment or region, so the share earned outside North America is not disclosed.
Price history
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LYFT -18.4% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $1.84B, up 16.1% from a year earlier, and net income was $50.3M (+24.8%).
- For fiscal 2025, revenue was $6.32B (+9.2% year over year; +21.7% a year from FY2020 to FY2025) with a 45% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +21.7% good |
|---|---|
| Operating margin | -3% weak |
| Return on equity (FY2025) | 86.9% good |
| Return on assets (FY2025) | 31.5% good |
| Net cash (cash minus debt) | $750.6M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.36B | $-1.75B | — |
| FY2021 | $3.21B | $-1.06B | — |
| FY2022 | $4.10B | $-1.58B | — |
| FY2023 | $4.40B | $-340.3M | — |
| FY2024 | $5.79B | $22.8M | — |
| FY2025 | $6.32B | $2.84B | — |
Valuation snapshot
| Market value | $6.19B |
|---|---|
| P/E ratio | 2.4 |
| Dividend yield | None |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| LYFT price data to Oct 28, 2026 | -15.6% | -18.4% | +20.8% | -19.0% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -15.6% |
| 2025 | +50.2% |
| 2024 | -13.9% |
| 2023 | +36.0% |
| 2022 | -74.2% |
| 2021 | -13.0% |
| 2020 | +14.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 51.1% over that stretch · deepest drop along the way 65.3%, back to its old high 8.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 73.3% over that stretch · deepest drop along the way 74.9%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 10 sales ($2.1M), 10 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 3, 2026 | Lindsay Catherine Llewellyn SEE REMARKS | sell (plan) | $584K |
| Aug 24, 2026 | Erin Brewer CHIEF FINANCIAL OFFICER | sell (plan) | $264K |
| Aug 7, 2026 | Janey Whiteside Director | sell (plan) | $242K |
| Sep 1, 2026 | Lindsay Catherine Llewellyn SEE REMARKS | sell (plan) | $220K |
| Sep 24, 2026 | Erin Brewer CHIEF FINANCIAL OFFICER | sell (plan) | $220K |
Who owns it
Large shareholders (13G filings)
| Ameriprise Financial, Inc. | 16.2% | Jun 30, 2026 |
| BlackRock, Inc. | 11.7% | Mar 31, 2026 |
| Integrated Core Strategies (US) LLC | 6.1% | Feb 11, 2026 |
| Vanguard Capital Management | 5.09% | Mar 31, 2026 |
| Vanguard Portfolio Management | 4.93% | Jun 30, 2026 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 3.6% | Dec 31, 2024 |
| FMR LLC | 3% | Jun 30, 2026 |
| AQR Capital Management, LLC | 2.98% | Mar 31, 2026 |
| Rakuten Group, Inc. | 2.71% | Dec 31, 2024 |
ETFs with the most weight in LYFT
| RVER Trenchless Fund ETF | 8.33% |
| AWAY Amplify Travel Tech ETF | 3.94% |
| FDRV Fidelity Electric Vehicles and Future Transportation ETF | 3.33% |
| XTN SPDR S&P Transportation ETF | 2.66% |
| OND ProShares On-Demand ETF | 2.53% |
| IBUY Amplify Online Retail ETF | 2.14% |
| SFLO VictoryShares Small Cap Free Cash Flow ETF | 1.58% |
| FLOW Global X U.S. Cash Flow Kings 100 ETF | 0.69% |
What could go wrong
- Drivers could be reclassified as employees. Lyft treats drivers as independent contractors. Court cases or new laws challenging that status could raise labor, tax and legal costs and force changes to how the service works.
- Intense competition from Uber and Bolt. Uber is Lyft's main ridesharing rival, and Uber and Bolt are its main rivals in taxi and private hire apps. Losing market share could mean fewer rides, or heavier spending on incentives and discounts.
- Keeping both drivers and riders on board. The app needs plenty of drivers and riders at once. If Lyft can't attract and keep them cost-effectively, waits lengthen, users drift to rivals, and the network that makes the app useful weakens.
- Insurance claims could exceed reserves. Lyft sets money aside, called reserves, for auto accident claims tied to its platform. If claims cost more than expected, profits suffer. It also relies on a few outside firms to handle claims.
- Uncertain shift to self-driving cars. Lyft aims to offer autonomous, or self-driving, vehicles on its app through partner companies. If those partnerships lag, or the technology isn't widely adopted, its long-term prospects could suffer.
- Growing abroad brings new costs and risks. The 2025 purchases of Freenow and TBR took Lyft into new countries with different laws and rivals. Operating abroad adds costs, and Lyft warns its international plans may not succeed.
Recent events
- Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Bylaws or fiscal year changed; Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Executive or board change
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Lyft does not pay a dividend and paid none from 2021 through 2025, so the shares produce no income. Any return depends on the share price, and a retiree drawing on a Lyft holding would have to sell shares. Lyft does return cash through buybacks, where a company buys its own shares to shrink the share count. It spent $50 million on buybacks in 2024 and about $500 million in 2025, and shares outstanding fell 5.2% between October 31, 2025, and July 31, 2026.
The price has swung hard in downturns. In the 2020 COVID crash it fell 65.3% in under a month, then took about 8.7 months to recover. During the 2022 stock market slump it fell 74.9% and had not regained its January 2022 high as of October 28, 2026. Its worst fall from a high is 89.8%. A single stock carries more risk than a diversified fund that spreads money across many companies.
Questions investors ask
How does Lyft make money?
Lyft makes almost all its money from its ridesharing marketplace, collecting service fees and commissions from drivers who use its app to find riders. Other sources include renting cars to drivers through Express Drive, bike and scooter rentals, selling bike-share equipment and software, advertising, licensing and data deals, and Lyft Business ride programs for organizations. Revenue was $6.32 billion in fiscal 2025, which ended December 31, 2025, up 9.2% from 2024.
Does Lyft pay a dividend?
No. Lyft paid no dividends from 2021 through 2025 and has no dividend yield. Instead it returns cash through share buybacks: $50 million in 2024 and about $500 million in 2025, or about $550 million from 2021 through 2025. Buybacks shrink the share count, which can raise earnings per share, but they don't send cash to shareholders. An income investor holding Lyft would need to sell shares to raise spending money.
Is Lyft profitable?
On paper, yes, but not from its core operations. Lyft reported net income of $2.84 billion for 2025, yet its operating income, the profit from running the business, was a loss of $188 million. The difference came from items outside day-to-day operations. Lyft lost money every year from 2020 through 2023 and earned just $23 million in 2024. In the quarter ended June 30, 2026, it earned $50 million on revenue of $1.84 billion.
Why is Lyft's P/E ratio so low?
Because 2025 earnings were unusually high compared with the business's operating results. The price-to-earnings (P/E) ratio divides the share price by earnings per share. Lyft's was 2.4 as of October 28, 2026, based on 2025 earnings of $6.81 per share. But those earnings came from items outside operations, which lost $188 million that year. A P/E built on one unusual year can overstate how cheap a stock is.
How has Lyft stock performed?
Unevenly. As of October 28, 2026, the shares were down 15.6% year to date and 18.4% over one year. Over three years they gained 76% in total, but over five years they lost 65%. Calendar-year returns have swung from a 74.2% loss in 2022 to a 50.2% gain in 2025. Its one-year beta of 1.26 means the shares tended to move more than the overall market.