At a glance
Uber Technologies Inc is worth $136.26B, about 14 times its fiscal 2025 earnings. Revenue grew 18.3% to $52.02B in fiscal 2025, with 19.3% kept as profit; over 5 years it has grown 36.1% a year. It pays no dividend; it spent $7.78B buying back its shares over FY2021–FY2025. The stock returned −30.9% over the past year with dividends reinvested and +9.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 63.9% in the 2020 crash (S&P 500: 33.7%) and 53.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 12 months after the lows.
The business in plain English
Uber runs apps that connect people who need a ride or a delivery with independent drivers and couriers. Riders use the Uber app for rideshare trips, taxis, rentals, bikes, scooters and public transit. On Uber Eats, customers order meals, groceries, alcohol and other goods from restaurants and stores. Uber earns money from fares and service fees on these trips and orders, plus advertising sold to brands and merchants. It also runs Uber Direct, a delivery service that stores and restaurants can offer under their own name, and Uber One, a discount-and-perks membership with 46 million members as of December 31, 2025.
Uber reports three segments. Of $52.0 billion in revenue for the year ended December 31, 2025, Mobility (rides) brought in $29.7 billion, or 57%. Delivery added $17.2 billion, or 33%. Freight, which matches businesses shipping goods with carriers that haul them, mainly in North America and Europe, added $5.1 billion, or about 10%.
As of December 31, 2025, Uber operated in more than 70 countries and over 15,000 cities. For the year, the U.S. and Canada produced 50.9% of revenue; Europe, the Middle East and Africa 31.5%; Asia Pacific 11.3%; and Latin America 6.4%. Delivery also widens Uber's reach: in the last three months of 2025, about 58% of first-time Delivery customers were new to Uber.
Price history
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UBER -30.9% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Mobility | $29.67B | 57% |
| Delivery | $17.25B | 33.2% |
| Freight | $5.10B | 9.8% |
By geography
| United States And Canada | $26.47B | 50.9% |
| EMEA | $16.36B | 31.5% |
| Asia Pacific | $5.86B | 11.3% |
| Latin America | $3.33B | 6.4% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $14.19B, up 12.2% from a year earlier, and net income was $2.39B (+76.7%).
- For fiscal 2025, revenue was $52.02B (+18.3% year over year; +36.1% a year from FY2020 to FY2025) with a 19.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +36.1% good |
|---|---|
| Operating margin | 10.7% watch |
| Free cash flow margin | 18.8% good |
| Return on equity (FY2025) | 37.2% good |
| Return on assets (FY2025) | 16.3% good |
| Net cash (cash minus debt) | $-7.33B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $11.14B | $-6.77B | $-3.36B |
| FY2021 | $17.45B | $-496.0M | $-743.0M |
| FY2022 | $31.88B | $-9.14B | $390.0M |
| FY2023 | $37.28B | $1.89B | $3.36B |
| FY2024 | $43.98B | $9.86B | $6.89B |
| FY2025 | $52.02B | $10.05B | $9.76B |
Valuation snapshot
| Market value | $136.26B |
|---|---|
| P/E ratio | 14.1 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Uber Technologies’s market value went from $50.73B at the end of 2019 to $136.26B on Nov 2, 2026, about 2.7 times as much; since the end of 2025 it is down 20%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $136.26B | -19.7% |
| 2025 | $169.78B | +33.7% |
| 2024 | $127.02B | +0.2% |
| 2023 | $126.70B | +156.9% |
| 2022 | $49.32B | -39.4% |
| 2021 | $81.35B | -9.6% |
| 2020 | $89.95B | +77.3% |
| 2019 | $50.73B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| UBER price data to Nov 2, 2026 | -18.4% | -30.9% | +12.8% | +9.2% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -18.4% |
| 2025 | +35.5% |
| 2024 | -2.0% |
| 2023 | +149.0% |
| 2022 | -41.0% |
| 2021 | -17.8% |
| 2020 | +71.5% |
| 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 45.4% over that stretch · deepest drop along the way 63.9%, back to its old high 7.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 40.9% over that stretch · deepest drop along the way 53.9%, back to its old high 11.9 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (23 read): 3 open-market purchases ($15.3M) and 1 sales ($2.0M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 10, 2026 | Dara Khosrowshahi Chief Executive Officer, Director | buy | $10.0M |
| Sep 4, 2026 | Andrew Macdonald See Remarks | buy | $4.1M |
| Sep 11, 2026 | Jill Hazelbaker See Remarks | sell | $2.0M |
| Sep 4, 2026 | Andrew Macdonald See Remarks | buy | $1.2M |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.53% | Mar 31, 2026 |
| Capital Research Global Investors | 5.6% | Dec 31, 2024 |
ETFs with the most weight in UBER
| IYT iShares US Transportation ETF | 20.15% |
| CAMX Cambiar Aggressive Value ETF | 5.98% |
| BUL Pacer US Cash Cows Growth ETF | 5.17% |
| OND ProShares On-Demand ETF | 5.14% |
| FDRV Fidelity Electric Vehicles and Future Transportation ETF | 4.87% |
| AWAY Amplify Travel Tech ETF | 4.66% |
| PNQI Invesco NASDAQ Internet ETF | 4.26% |
| TOGA Tremblant Global ETF | 4.15% |
What could go wrong
- Drivers could be reclassified as employees. Uber treats drivers and couriers as independent contractors. If courts or lawmakers reclassify them as employees, workers or quasi-employees, Uber could face higher labor costs and need to change its business model.
- Self-driving rivals could outpace Uber. Uber may fail to offer autonomous vehicles at competitive scale, or before rivals. Alphabet's Waymo, Amazon's Zoox and Tesla are developing self-driving technology that competes, or may compete, with Uber's ride network.
- Price wars with low-cost, well-funded competitors. Switching costs are low and rivals such as Lyft, Bolt, Didi and DoorDash compete hard. Uber has cut fares and paid heavy driver incentives and customer discounts to keep up, which hurts profits.
- Safety incidents could damage the brand. Crimes, violence or other dangerous incidents involving riders, drivers or couriers can drive users away. Uber gets heavy media coverage, including negative publicity, and says it has worked hard to rebuild its reputation.
- Patchwork rules, bans and government probes. Ridesharing rules differ by city and country, and some places ban certain Uber products or impose heavy restrictions. Uber also faces investigations from the U.S. Justice Department, Federal Trade Commission and other agencies.
- Uber's profit record is short. Uber posted net losses from 2020 through 2022, including $9.1 billion in 2022. It expects operating expenses to rise and warns it may not maintain profitability.
Recent events
- Other company announcement
- Major agreement signed; Major agreement ended; New debt or financial obligation
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Executive or board change
- Shareholder vote results
- Quarterly results released
- Investor presentation or announcement
- Quarterly results released; Executive or board change
- Other company announcement
For income and retirement investors
Uber paid no dividend in any year from 2020 through 2025, so there is no streak of increases or payout to measure. Income-focused investors would receive no payouts from it; returns depend entirely on the share price. Uber uses buybacks (repurchases of its own stock) instead, spending $1.3 billion in 2024 and $6.5 billion in 2025. That year it generated $9.8 billion of free cash flow, the cash left after running and investing in the business. Even so, shares outstanding rose 8.4% from August 2021 to July 2026.
The stock has fallen hard in downturns. In the 2020 COVID crash it dropped 63.9% from February 19 to March 18, 2020, then took about 7.6 months to recover. In the 2022 bear market it fell 53.9% and needed about 11.9 months to regain its peak. As of October 27, 2026, it was down 31.8% over one year. A single stock carries more risk than a diversified fund.
Questions investors ask
Does Uber pay a dividend?
No. Uber paid no dividend in any year from 2020 through 2025, and it had no dividend yield as of October 27, 2026. Instead, it returns cash through share buybacks, which totaled about $7.8 billion from fiscal 2021 through 2025, including $6.5 billion in 2025 alone. Despite those repurchases, shares outstanding rose 8.4% from August 2021 to July 2026. Investors who need regular income would get none directly from Uber stock.
How does Uber make money?
Uber earns money from fares and service fees on rides and deliveries booked through its apps, and it also sells advertising and freight services. For the year ended December 31, 2025, Mobility (rides and other transport) produced 57% of its $52.0 billion revenue, Delivery (Uber Eats, groceries and other goods) 33%, and Freight about 10%. Freight links businesses shipping goods with carriers, mainly in North America and Europe. Just over half of revenue (50.9%) came from the U.S. and Canada.
Is Uber profitable?
Yes, in every year from 2023 on. After net losses from 2020 through 2022, including $9.1 billion in 2022, Uber earned $1.9 billion in 2023, $9.9 billion in 2024 and $10.1 billion in 2025, plus $2.4 billion in the quarter ended June 30, 2026. Operating income in 2025 was a smaller $5.6 billion, a 10.7% margin, so items outside core operations lifted net income. Uber warns that operating expenses will rise and it may not maintain profitability.
Who are Uber's main competitors?
Uber's main ride rivals are Lyft, Bolt, Didi and Ola, and its delivery rivals include DoorDash, Instacart, Gopuff, Rappi, Delivery Hero, Just Eat Takeaway and Amazon. Its Freight unit competes with brokers such as C.H. Robinson, Total Quality Logistics, RXO, XPO and DHL. Uber also competes with personal cars, taxis and public transit. Alphabet's Waymo, Amazon's Zoox and Tesla are developing self-driving technology that competes, or may compete, with Uber. The company says barriers to entry and switching costs are low.
How has Uber stock performed?
Uber shares have gained over five years, but with large swings. As of October 27, 2026, the share price was up about 8% a year over five years (47% in total) and 16.8% a year over three years. It was down 31.8% over one year and 19.5% since the start of 2026. Calendar years ranged from a 41% loss in 2022 to a gain of about 149% in 2023. Its deepest drop from a peak was 68%. These are price returns; Uber pays no dividend.