Uber Technologies Inc (UBER)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 37,281,000 | 31,877,000 | 17,455,000 | 11,139,000 | 13,000,000 |
| Total assets | US$ in thousands | 38,699,000 | 32,109,000 | 38,774,000 | 33,252,000 | 31,761,000 |
| Total asset turnover | 0.96 | 0.99 | 0.45 | 0.33 | 0.41 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $37,281,000K ÷ $38,699,000K
= 0.96
The total asset turnover ratio for Uber Technologies Inc has displayed fluctuating trends over the past five years. In 2023, the total asset turnover ratio stood at 0.96, a slight decrease from the prior year's 0.99. This indicates that Uber generated $0.96 in revenue for every $1 of total assets in 2023.
Comparing this to the ratios from previous years, we observe a significant improvement since 2020 when the ratio was 0.33. This suggests that Uber has become more efficient in utilizing its assets to generate revenue. The ratio peaked in 2022 at 0.99, signifying that the company was generating almost $1 in revenue for each dollar of assets.
Despite the slight decline in 2023, the overall trend indicates an improvement in asset utilization efficiency over the last three years. It is essential for Uber to maintain or improve this ratio in the future to ensure optimal utilization of its assets and sustainable revenue generation.
Peer comparison
Dec 31, 2023