Uber Technologies Inc (UBER)

Working capital 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 current assets US$ in thousands 11,297,000 9,249,000 8,819,000 9,882,000 13,925,000
Total current liabilities US$ in thousands 9,454,000 8,853,000 9,024,000 6,865,000 5,639,000
Working capital turnover 20.23 80.50 3.69 1.57

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $37,281,000K ÷ ($11,297,000K – $9,454,000K)
= 20.23

The working capital turnover ratio for Uber Technologies Inc has displayed significant fluctuations over the past five years. In 2019, the ratio stood at 1.71, indicating that the company generated $1.71 in revenue for every dollar of working capital. This suggests that Uber's efficiency in utilizing its working capital to generate sales was relatively low in 2019.

Subsequently, there was a considerable improvement in 2020 as the working capital turnover ratio increased to 3.69. This implies that Uber became more efficient in generating revenue from its working capital during the year. However, there is no data available for the year 2021, making it challenging to assess the company's performance in utilizing its working capital efficiently for that period.

In 2022, the working capital turnover ratio surged to 80.50, reflecting a substantial increase in Uber's ability to generate sales relative to its working capital. This significant spike suggests a shift towards much greater efficiency in capital utilization, indicating a strong performance in 2022.

For the most recent year, 2023, the working capital turnover ratio dropped to 20.23 but still remains at a relatively high level compared to the industry average. Despite the decrease from the previous year, Uber's efficiency in converting working capital into revenue remains noteworthy.

Overall, Uber's working capital turnover ratio has exhibited variations, with notable jumps indicating periods of improved efficiency in utilizing working capital to drive revenue generation. Monitoring this ratio over time can provide insights into the company's operational efficiency and financial performance.


Peer comparison

Dec 31, 2023


See also:

Uber Technologies Inc Working Capital Turnover