Forensic Analysis · Professional & Commercial Services · as of Sep 25, 2026
Uber Technologies, Inc (UBER)
A forensic read on Uber Technologies, Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
4.6
Distress distance
Clean
Earnings quality
3
Forensic signals
15.0
P / E (ttm)
37.2%
ROE
$141.8B
Market cap
18.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Uber Technologies, Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.6, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+18.8%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +18.8% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +15% against revenue +18%. A cash-flow measure on the same base disagrees: reported earnings ran in line with operating cash by 0% of net operating assets, against an accruals ratio of 18.8%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
11.8%
FY2025
Return on invested capital.Return on invested capital is 11.8% in the latest fiscal year and rising across FY2023–FY2025 from 4.1%. After-tax operating profit was $999M in FY2023 and $5.0B in FY2025, with operating income at 3.0% of revenue in FY2023, 6.4% in FY2024 and 10.7% in FY2025. The capital base behind it grew +72% across FY2023–FY2025, from $24.6B to $42.4B, and the return did not fall doing it, so the dollars added over that window earned at least the 4.1% the older base was already earning.
+0.7%/yr
FY2023–FY2025
Share count.Diluted share count changed +1% over the last 2 years to FY2025 (+0.7%/yr). Roughly flat — buybacks ($6.5B) are about offsetting stock comp ($1.8B), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
Key fundamentals
Latest Revenue$52.02B
Revenue Growth YoY+18.3%
Revenue CAGR (2yr)+18.1%
Net Margin19.3%
Free Cash Flow$9.76B
Return on Equity37.2%
Debt / Equity0.39x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Uber Technologies, Inc's actual 10-K/10-Q/8-K filings?