Uber Technologies Inc (UBER)

Working capital turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	37,281,000	35,952,000	35,003,000	33,846,000	31,877,000	29,048,000	25,550,000	21,406,000	17,455,000	14,842,000	12,810,000	10,794,000	11,139,000	10,896,000	11,896,000	13,149,000	13,000,000
Total current assets	US$ in thousands	11,297,000	10,679,000	10,664,000	9,196,000	9,249,000	9,368,000	8,751,000	8,665,000	8,819,000	9,684,000	7,783,000	8,295,000	9,882,000	9,412,000	9,662,000	11,114,000	13,925,000	15,153,000	14,300,000	7,930,000
Total current liabilities	US$ in thousands	9,454,000	9,405,000	8,635,000	8,683,000	8,853,000	9,020,000	8,945,000	8,652,000	9,024,000	8,126,000	7,684,000	7,288,000	6,865,000	6,921,000	5,891,000	6,631,000	5,639,000	5,372,000	5,570,000	4,714,000
Working capital turnover		20.23	28.22	17.25	65.98	80.50	83.47	—	1,646.62	—	9.53	129.39	10.72	3.69	4.37	3.15	2.93	1.57

December 31, 2023 calculation

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

The working capital turnover ratio measures how efficiently a company is utilizing its working capital to generate revenue. A higher ratio indicates better efficiency in utilizing working capital.

From the data provided, we observe significant fluctuations in Uber Technologies Inc's working capital turnover ratio over the past quarters.

In Q4 2023, the working capital turnover ratio was 20.23, showing a decrease from the previous quarter's ratio of 28.22 in Q3 2023. This decrease may indicate a decrease in efficiency in utilizing working capital to generate revenue.

However, in Q2 2023, the working capital turnover ratio was 17.25, showing another decrease from Q3 2023. This might indicate a period of lower efficiency in working capital management.

Remarkably, in Q1 2023, the working capital turnover ratio spiked to 65.98, which is significantly higher than the previous quarters. This surge could indicate a period of improved efficiency in utilizing working capital to generate revenue.

Comparing these figures with the ratios from the previous year, we see a substantial decrease in efficiency from Q4 2022 to Q1 2022, with Q1 2022 showing an unusually high working capital turnover ratio of 1,646.62. This aberration suggests potential anomalies or irregularities in the financial data for Q1 2022.

Overall, the working capital turnover ratio for Uber Technologies Inc shows fluctuations, indicating varying levels of efficiency in utilizing working capital to generate revenue over the analyzed quarters, with potential anomalies warranting further investigation.