Uber Technologies Inc (UBER)

Operating return on assets (Operating ROA)

		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
Operating income (ttm)	US$ in thousands	1,110,000	316,000	-573,000	-1,612,000	-1,832,000	-2,240,000	-2,317,000	-2,792,000	-3,834,000	-4,161,000	-4,705,000	-5,124,000	-4,863,000	-4,957,000	-4,947,000	-8,825,000	-8,596,000
Total assets	US$ in thousands	38,699,000	35,949,000	34,068,000	32,451,000	32,109,000	31,112,000	31,014,000	32,812,000	38,774,000	36,884,000	36,251,000	34,655,000	33,252,000	28,894,000	28,240,000	30,090,000	31,761,000	32,292,000	30,980,000	24,390,000
Operating ROA		2.87%	0.88%	-1.68%	-4.97%	-5.71%	-7.20%	-7.47%	-8.51%	-9.89%	-11.28%	-12.98%	-14.79%	-14.62%	-17.16%	-17.52%	-29.33%	-27.06%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $1,110,000K ÷ $38,699,000K
= 2.87%

Uber Technologies Inc's operating return on assets (ROA) has shown fluctuating trends over the past eight quarters. In Q4 2023, the operating ROA stood at 2.87%, representing an improvement from the previous quarter and signaling increased efficiency in generating operating income relative to its assets. However, the positive trend was not consistent, as seen in the prior quarters.

In Q3 2023, the operating ROA was 0.88%, indicating a relatively weaker performance compared to Q4 2023. The company experienced a significant decline in Q2 2023, with an operating ROA of -1.68%, reflecting operational challenges in utilizing its assets efficiently. This negative trend continued into Q1 2023, where the operating ROA further decreased to -4.97%.

Looking back to Q4 2022, Uber's operating ROA was -5.71%, and it continued to deteriorate in the following quarters. The company struggled to improve its operating efficiency, with Q3 2022, Q2 2022, and Q1 2022 reporting operating ROAs of -7.20%, -7.47%, and -8.51%, respectively.

Overall, Uber Technologies Inc's operating ROA has exhibited volatility, with occasional improvements but a general trend of underperformance in effectively utilizing its assets to generate operating income. It is essential for the company to focus on enhancing operational efficiency and optimizing asset utilization to drive sustainable profitability in the long run.