Is the business good?
How good a business is UBER?
Uber earns 15% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
15%
Return on invested capital · cost of capital 9.0% · 6.3 points above what the capital costs: growth creates value
- Operating margin
- 12%
Operating margin · Software - Application median 8.2% · 12 months to Q2 2026
- Cash conversion
- 1.06×
Cash conversion · 0.68× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −3.5%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | −44% |
| FY2021 | −22% |
| FY2022 | −5.8% |
| FY2023 | 3.0% |
| FY2024 | 6.4% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q2 2026
- 42%
- Operating margin12 months to Q2 2026
- 12%
- Net margin12 months to Q2 2026
- 17%
- Free cash flow margin
- 18%
- R&D as % of revenue
- 6.8%
- Revenue, trailing twelve months
- $55.2B
- Free cash flow, trailing twelve months
- $10.1B
- Net income, trailing twelve months
- $9.58B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 15%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Application
Ranks #5 of 90 by Smart Score