Uber

Recurring, everyday use cases across rides, meals, and local retail support steady demand through cycles. 2025 delivered 13.6 billion trips, up 20 percent, with gross bookings up 19 percent. Free cash flow of 9.8 billion dollars rose 42 percent year on year, reflecting structural operating leverage.

Membership at 46 million and ads run‑rate growth improve visibility into future margins and cash conversion. The platform is diversified by geography and product, and now operates with investment‑grade balance sheet strength. Offsetting factors include exposure to fuel and insurance cycles, FX headwinds, and policy risk in select regions.