Uber Technologies Inc (UBER)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	9,459,000	9,265,000	9,276,000	7,560,000	5,707,000
Total stockholders’ equity	US$ in thousands	11,249,000	7,340,000	14,458,000	12,266,000	14,190,000
Debt-to-capital ratio		0.46	0.56	0.39	0.38	0.29

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $9,459,000K ÷ ($9,459,000K + $11,249,000K)
= 0.46

The debt-to-capital ratio for Uber Technologies Inc has shown fluctuations over the past five years. As of December 31, 2023, the ratio stood at 0.46, indicating that 46% of the company's capital structure was funded by debt. This represents a decrease from the previous year's ratio of 0.56.

The downward trend in the debt-to-capital ratio suggests that Uber has been reducing its reliance on debt financing relative to its total capital. This can be seen as a positive development as lower debt levels can decrease financial risk and improve the company's financial stability.

Despite the improvement in 2023, the debt-to-capital ratio remains higher compared to the ratios in 2020 and 2019. This indicates that Uber still has a significant portion of its capital structure financed by debt, which may imply higher interest expenses and financial obligations.

Overall, while the decreasing trend in the debt-to-capital ratio is encouraging, investors and stakeholders should continue to monitor Uber's capital structure and debt levels to assess the company's financial health and risk profile.