Uber Technologies Inc (UBER)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	9,459,000	9,252,000	9,255,000	9,257,000	9,265,000	9,268,000	9,271,000	9,273,000	9,276,000	9,279,000	7,798,000	7,801,000	7,560,000	6,667,000	6,691,000	5,703,000	5,707,000
Total stockholders’ equity	US$ in thousands	11,249,000	9,358,000	8,664,000	7,508,000	7,340,000	6,247,000	6,661,000	8,916,000	14,458,000	13,931,000	14,175,000	13,598,000	12,266,000	8,942,000	9,550,000	11,342,000	14,190,000
Debt-to-capital ratio		0.46	0.50	0.52	0.55	0.56	0.60	0.58	0.51	0.39	0.40	0.35	0.36	0.38	0.43	0.41	0.33	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 been fluctuating over the past eight quarters, ranging from 0.46 to 0.60. This ratio indicates the proportion of the company's total debt to its total capital, which includes both debt and equity.

The trend shows that the debt-to-capital ratio has generally been increasing over the analyzed period, suggesting a higher reliance on debt financing compared to equity. This could be a strategic decision by the company to leverage debt to fund its operations, investments, or growth initiatives.

The ratio peaked at 0.60 in Q3 2022, indicating a higher level of debt relative to capital at that time. Subsequently, there was a slight decrease in the ratio in the following quarters, indicating potential efforts to reduce debt or increase equity in the capital structure.

It is important for investors and stakeholders to monitor changes in the debt-to-capital ratio as it can indicate the company's financial health, risk profile, and ability to meet debt obligations. A higher ratio may signal higher financial risk and leverage, while a lower ratio may reflect a more conservative capital structure.