# Uber Technologies, Inc. (UBER)

> Source: Nexqual · https://nexqual.com/UBER · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Uber Technologies, Inc. (UBER), nexqual.com/UBER" · informational, not investment advice.

**Price:** USD 69.07 (+2.14% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 67.62 · day 67.33–69.15 · 52w 65.41–100.35 · market cap $141B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $55.2B, net income $9.58B (17.3% margin), free cash flow $10.1B (SEC filings).
- Valuation: P/E 14.7x (avg 32.9x at the last 3 fiscal year-ends), EV/EBITDA 19.9x, net debt $7.33B.
- 11 of 80 tracked superinvestors hold UBER (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 3 new, 3 added, 3 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $2.0M; 1 not under a Rule 10b5-1 plan ($2.0M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $15.3M; 1 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.02 on a 1–5 scale) (50 analysts), mean target USD 100.86 (range 70–150).
- Total return with dividends: 1Y -27.0% vs S&P 500 +14.9%; 5Y +51.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 0.9, revenue estimate $14.7B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $17.5B | $31.9B | $37.3B | $44.0B | $52.0B | $55.2B |
| Operating income | -$3.83B | -$1.83B | $1.11B | $2.80B | $5.57B | $6.70B |
| Net income | -$496M | -$9.14B | $1.89B | $9.86B | $10.1B | $9.58B |
| EPS (diluted) | -$0.29 | -$4.65 | $0.87 | $4.56 | $4.73 | — |
| Free cash flow | -$743M | $390M | $3.36B | $6.89B | $9.76B | $10.1B |
| Operating margin | -22.0% | -5.7% | 3.0% | 6.4% | 10.7% | 12.1% |
| Net margin | -2.8% | -28.7% | 5.1% | 22.4% | 19.3% | 17.3% |
| Revenue growth | +56.7% | +82.6% | +17.0% | +18.0% | +18.3% | — |
| Cash + short-term investments | $4.29B | $4.31B | $5.41B | $6.98B | $7.63B | — |
| Total debt | $9.39B | $9.36B | $9.56B | $9.57B | $10.5B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 14.7x · P/S 2.5x · EV/EBITDA 19.9x · EV/Sales 2.7x · P/FCF 13.9x · P/B 5.2x · FCF yield 7.17% · Earnings yield 6.79% · Buyback yield (TTM) 4.89% · Net debt $7.33B · EV $148B
P/E at fiscal year-ends: Dec 2025 17.2x, Dec 2024 13.2x, Dec 2023 68.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
11 of 80 tracked investors hold UBER (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Bill Ackman | Pershing Square | 12.72% | $2.48B | New position | Q2 2026 |
| Pat Dorsey | Dorsey Asset Management | 8.14% | $127M | Added +61.6% | Q2 2026 |
| David Tepper | Appaloosa Management | 7.43% | $555M | Added +21.5% | Q2 2026 |
| Terry Smith | Fundsmith | 4.73% | $645M | New position | Q2 2026 |
| Thomas Russo | Gardner Russo & Quinn | 4.11% | $367M | Reduced -1.7% | Q2 2026 |
| William Von Mueffling | Cantillon Capital Management | 2.59% | $17.2M | Reduced -95.4% | Q2 2026 |
| David Katz | Matrix Asset Advisors | 0.93% | $11.2M | New position | Q3 2026 |
| First Pacific Advisors |  | 0.88% | $70.5M | Added +0.7% | Q2 2026 |
| Polen Capital | Polen Capital Management | 0.35% | $41.1M | Reduced -80.5% | Q2 2026 |
| Thomas Gayner | Markel Group | 0.08% | $10.3M | Unchanged | Q2 2026 |
| Chase Coleman | Tiger Global Management | 0.05% | $10.9M | Unchanged | Q2 2026 |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-11 | Hazelbaker Jill | See Remarks | 28,170 | $2.0M | 14.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $15.3M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-10 | Khosrowshahi Dara | Chief Executive Officer | 141,000 | $10.0M | 70.96 | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-04 | Macdonald Andrew | See Remarks | 70,000 | $5.3M | 75.83 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 2.02 on a 1–5 scale), 50 analysts; mean target USD 100.86 (low 70, high 150).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Guggenheim | Reiterated | Buy | $125 |
| 2026-10-12 | Cantor Fitzgerald | Reiterated | Overweight | $90 |
| 2026-10-07 | Citizens | Reiterated | Market Outperform | $100 |
| 2026-10-07 | BTIG | Reiterated | Buy | $100 |
| 2026-10-05 | Wells Fargo | Target raised | Overweight | $89 → $92 |
| 2026-09-09 | Scotiabank | Initiated | Sector Outperform | $100 |
| 2026-09-08 | Wedbush | Reiterated | Outperform | $91 |
| 2026-09-08 | StoneX | Reiterated | Hold |  |
| 2026-09-03 | Rosenblatt | Maintained | Buy | $100 |
| 2026-09-03 | BTIG | Reiterated | Buy | $100 |
| 2026-09-01 | Rosenblatt | Initiated | Buy | $100 |
| 2026-08-25 | Citizens | Reiterated | Market Outperform | $100 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -27.0% | +51.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -27.1% | +8.7% |
| Volatility (annualized) | 35.1% | 42.1% |
| Max drawdown | -33.9% (Nov 2025→Jul 2026) | -54.8% (Nov 2021→Jun 2022) |

## Peers (Software - Application)
NOW (ServiceNow, Inc.) USD 157 +2.53% · ADP (Automatic Data Processing, Inc.) USD 307.94 +4.56% · SNOW (Snowflake Inc.) USD 313.96 -2.72% · ADBE (Adobe Inc.) USD 270.55 +6.07% · CRM (Salesforce, Inc.) USD 250.29 +3.52% · INTU (Intuit Inc.) USD 354.9 +5.75%

## More
Full page: https://nexqual.com/UBER · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in UBER's own 10-K filed 2026-02-13 (https://www.sec.gov/Archives/edgar/data/1543151/000154315126000015/uber-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | MLU | "During 2018, we closed a transaction that contributed the net assets of our Uber Russia/CIS operations into a newly formed private limited liability company ("MLU B.V." or "Yandex.Taxi joint venture"), with Yandex N.V ("…" |
| Related party | Neutron Holdings, Inc. (LIME) | "Neutron Holdings, Inc. ("Lime") is considered a related party as a result of our investment in Lime Common Stock." |
| Competitor | Amazon (AMZN) | "There are also a number of companies developing and introducing autonomous vehicles and technologies that either are competing with us or may compete with us in the future, including Alphabet (Waymo), Amazon (Zoox), and …" |
| Competitor | Tesla (TSLA) | "There are also a number of companies developing and introducing autonomous vehicles and technologies that either are competing with us or may compete with us in the future, including Alphabet (Waymo), Amazon (Zoox), and …" |
| Competitor | Alphabet (Google) (GOOGL) | "There are also a number of companies developing and introducing autonomous vehicles and technologies that either are competing with us or may compete with us in the future, including Alphabet (Waymo), Amazon (Zoox), and …" |

Other companies that name UBER in their own reports (relationship from UBER's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | BRINKER INTERNATIONAL, INC (EAT) | 10-K 2026-08-19 | "Our To-Go menu is available through the Chili's mobile app, chilis.com, our delivery partners DoorDash, Uber Eats, and Grubhub, Google Food Ordering or by calling the restaurant directly." |
| supplier | Fly-E Group, Inc. (FLYE) | 10-K 2026-07-23 | "customer base comprises food delivery workers, and if leading food delivery platforms like Uber Eats and DoorDash impose new requirements" |
| partner | Nebius Group N.V. (NBIS) | 20-F 2026-04-30 | "On April 21, 2023, the Company entered into an agreement with Uber NL Holdings 1 B.V. ("Uber"), a subsidiary of Uber Technologies Inc., and on the same day acquired Uber's entire remaining 29% interes…" |
| partner | PagSeguro Digital Ltd. (PAGS) | 20-F 2026-04-29 | "Our digital banking ecosystem features our free PagBank digital account, under the brand PagBank, and offers 51 payment methods and 15 cash-out options including bill payments, top up prepaid mobile p…" |
| partner | Albertsons Companies, Inc. (ACI) | 10-K 2026-04-27 | "We continue to partner with Instacart, DoorDash and Uber." |
| competitor | MEXICAN ECONOMIC DEVELOPMENT INC (FMX) | 20-F 2026-04-24 | "Additionally, OXXO competes with delivery aggregators and express delivery services such as Rappi, Uber Eats, and PedidosYa, among others." |
| partner | WeRide Inc. (WRD) | 20-F 2026-04-23 | "In December 2025, we launched public robotaxi passenger rides in Dubai in partnership with Uber and Dubai's Roads and Transport Authority (RTA), with riders able to book through the "Autonomous" optio…" |
| competitor | Swvl Holdings Corp (SWVL) | 20-F 2026-04-20 | "We also compete against taxi companies and traditional ridesharing platforms, such as Uber." |
| partner | Chanson International Holding (CHSN) | 20-F 2026-04-20 | "through third-party delivery partners, including Grubhub, Uber Eats, and Doordash." |
| partner | TILLY'S, INC. (TLYS) | 10-K 2026-04-09 | "Moreover, partnerships with TikTok, Afterpay, Apple, Google, Amazon, and Uber have provided our customers greater flexibility in payment options and delivery convenience, including same-day delivery o…" |
| partner | VenHub Global, Inc. (VHUB) | 10-K 2026-03-24 | "in strategic partnerships with major logistics and food delivery platforms, including Amazon Logistics, Uber Eats, Eat24, and GrubHub." |
| partner | dLocal Ltd (DLO) | 20-F 2026-03-18 | "To that end, as of December 31, 2025, over 760 global merchants, including brand names such as Shein, Didi, Payoneer, Temu, Google, Facebook, Rappi, Deel, Uber, SpaceX, Worldpay and Spotify, across mu…" |
| partner | Baidu, Inc. (BIDU) | 20-F 2026-03-17 | "In July 2025, Apollo Go entered into a multi-year strategic partnership with Uber Technologies, Inc. to deploy thousands of Apollo Go's fully autonomous vehicles on the Uber platform across multiple i…" |
| partner | DOLLAR TREE, INC. (DLTR) | 10-K 2026-03-16 | "In August 2025, we announced a nationwide partnership with Uber to bring the Uber Eats platform to our stores, offering customers on-demand access to and delivery of value-driven essentials, snacks, p…" |
| partner | El Pollo Loco Holdings, Inc. (LOCO) | 10-K 2026-03-13 | "We currently have partnerships with DoorDash, Postmates, Uber Eats, and Grubhub." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Mobility | $7.36B | 51.9% | +1.0% | $2.21B | 30.1% |
| Delivery | $5.25B | 37.0% | +27.9% | $1.05B | 20.1% |
| Freight | $1.58B | 11.2% | +25.5% | -$24.0M | -1.5% |
| Total revenue | $14.19B | 100% | — | $1.89B | 13.3% |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States and Canada ("US&CAN") | $7.61B | 53.6% | +16.0% |
| Europe, Middle East and Africa ("EMEA") | $3.75B | 26.4% | -3.7% |
| Asia Pacific ("APAC") | $1.81B | 12.7% | +28.8% |
| Latin America ("LatAm") | $1.02B | 7.2% | +29.5% |
| Total revenue | $14.19B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.90 | $0.92 | -1.7% | $14.67B | 31 |
| Next quarter (ends 2026-12-31) | $1.00 | $1.03 | -3.0% | $15.63B | 31 |
| Current fiscal year (ends 2026-12-31) | $3.18 | $3.02 | +5.2% | $57.88B | 38 |
| Next fiscal year (ends 2027-12-31) | $4.54 | $4.52 | +0.3% | $66.79B | 39 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-04): ±8.3%; earnings reaction alone ±6.2%; last 8 reports averaged ±4.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 34.0% | ±4.1% |
| 2026-11-06 | 14 | 51.0% | ±8.3% |
| 2026-11-13 | 21 | 45.7% | ±9.0% |
| 2026-11-20 | 28 | 44.8% | ±10.1% |
| 2026-11-27 | 35 | 39.0% | ±9.8% |
| 2026-12-04 | 42 | 43.1% | ±11.9% |
| 2026-12-18 | 56 | 37.7% | ±12.0% |
| 2027-01-15 | 84 | 36.4% | ±14.2% |