LTM, Uber generated $22.539 billion from the US and Canada. The remaining came from other regions:
- Europe, Middle East, and Africa (EMEA): $11.777 billion
- Latin America (LATAM): $2.746 billion
- Asia-Pacific (APAC): $4.893 billion
This means approximately 54% of Uber's revenue came from the US and Canada, while 46% came from international markets.
As of 2022, Uber had a 25% global market share for ride-hailing, making it the largest player worldwide but we cannot find any more up to data than that.
Clear thesis! It is reasonably valued with 25% projected FCF growth in the next 5 years.
Love this asymmetric format, great points!
Thanks Arny!
When you say “intrinsic value estimates based on a 10% discount rate and a 5-year timeframe” is that:
5 years of compounding 25% FCF growth then flat lines? For how long?
Or 5 years of full DCF model and terminal value 0 at year 6?
Perhaps just layout the middle case calc for clarity?
What is the US / Non US revenue bifurcation? And what is Uber’s market share in the ride hailing biz?
Great article, keep it up bud 💪
LTM, Uber generated $22.539 billion from the US and Canada. The remaining came from other regions:
- Europe, Middle East, and Africa (EMEA): $11.777 billion
- Latin America (LATAM): $2.746 billion
- Asia-Pacific (APAC): $4.893 billion
This means approximately 54% of Uber's revenue came from the US and Canada, while 46% came from international markets.
As of 2022, Uber had a 25% global market share for ride-hailing, making it the largest player worldwide but we cannot find any more up to data than that.