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canonical_url: https://www.stockexpertai.com/zh/earnings/uber
last_updated: 2026-05-03T21:20:15.518Z
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# Uber Technologies, Inc. (UBER) Q4 FY2026 财报预览

> **[stale-preview-note]** 注：本预览发布于2026-05-06财报之前。请以最新公告为准。

> 此内容由 FMP 实时数据 + Q4 FY2025 财报电话会议记录自动生成。生成时间：2026-05-03T21:20:14.642Z。本工具为教育目的，不构成投资建议。

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## 快速摘要

| 字段 | 值 | 来源 |
|---|---|---|
| 价格 | $75.12 (▲ 0.68%) | fmp:quote |
| 市值 | $154.6B | fmp:profile |
| 52周区间 | $68.46 – $101.99 | fmp:quote |
| 财报 | 周三 6 5月 | fmp:earnings-history |
| EPS 预期 | $0.71 (-14% YoY) | fmp:earnings-estimate |
| 营收预期 | $13.3B | fmp:earnings-estimate |
| 超预期连胜 | 0/4 | fmp:earnings-history |
| 评级 | A- (overall 4/5) | fmp:ratings |
| 分析师中位数目标价 | $107 (+41.8% upside) | fmp:price-target-consensus |
| MoonshotScore | 64/100 | derived |
| Council | 5/6 bullish | derived |
| 芒格结论 | 低估 | derived |

## Uber Technologies, Inc. — Q4 FY2026 预期

Q4 季度共识：营收 <strong data-source="fmp:earnings-estimate" data-field="estimates.next.revenueAvgLabel">$13.3B</strong><sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.revenueAvg" title="FMP est">[FMP est]</sup>，EPS <strong data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg">$0.71</strong><sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg" title="FMP est">[FMP est]</sup>。连续 0 个季度超出预期<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.beatStreakCount" title="FMP earnings">[FMP earnings]</sup>。

## 快速概览

**得分：** A- · **立场：** BUY · **Council：** 5/6 · **Moonshot：** 64

= MoonshotScore <strong>64</strong><sup class="cite" data-source="derived" data-field="moonshot.score" title="MoonshotScore">[MoonshotScore]</sup> + Council <strong>5/6</strong><sup class="cite" data-source="derived" data-field="council.bullishCount" title="Council">[Council]</sup>。Form 4: 0 笔交易<sup class="cite" data-source="fmp:insider-trading" data-field="insider.txCount" title="FMP Form 4">[FMP Form 4]</sup>。

## 观察列表 (4个指标)

### 1. Adjusted Ebitda Growth

优步的调整后EBITDA增长了35%，达到87亿美元。

> "我们创造了87亿美元的调整后EBITDA，增长了35%，以及98亿美元的惊人自由现金流，增长了42%。"
> — Dara Khosrowshahi, Investor Focus · Q4 FY2025

### 2. Free Cash Flow Growth

优步的自由现金流增长了42%，达到98亿美元。

> "我们创造了87亿美元的调整后EBITDA，增长了35%，以及98亿美元的惊人自由现金流，增长了42%。"
> — Dara Khosrowshahi, Investor Focus · Q4 FY2025

### 3. Gross Bookings Growth

优步在2025年实现了年度总预订量超过20%的增长。

> "纵观2025年全年，我们实现了连续第五年年度总预订量超过20%的增长。"
> — Dara Khosrowshahi, Investor Focus · Q4 FY2025

### 4. Non Top 20 Markets Profit

优步在美国的利润中，近75%来自前20大市场以外的市场，而且这些市场的增长速度更快。

> "我想补充一点，虽然你问的是顶级市场，但重要的是要记住，美国70%的地区都在股市之外，我们美国利润的近75%来自这些市场。而且，这些数字一直在增长，因为这些市场的增长速度超过了前20大城市。"
> — Balaji Krishnamurthy, Investor Focus · Q4 FY2025


## MoonshotScore 支柱

| 支柱 | 得分 | 水平 | 证据 |
|---|---|---|---|
| 营收增长 | 10.0 | strong | Q4 vs Q1: 快速增长 (+%24.6) |
| 毛利率 | 4.0 | medium | Q4: 平均毛利率 (%39.6) |
| 经营杠杆 | 1.0 | weak | 营业利润率平均 (%12.3) |
| 现金流储备 | 10.0 | strong | FCF 非常强劲 ($2.8B，是资本支出的 37.4 倍以上) |
| 研发投入强度 | 5.0 | medium | 平均研发投入 (%6.5) |
| 价格动能 | 7.0 | strong | RSI 52.3 平衡，50日均线 之上 |
| 新闻情绪 | 8.0 | strong | 强烈买入共识 (84%) |

**公式:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula.

## Council (7视角)

| 名称 | 立场 | 背景 |
|---|---|---|
| Ray Dalio | bull | 宏观 · 目标上涨空间 +41.8% |
| Ken Griffin | bull | 资金流 · 50日均线 之上 |
| Jim Simons | neutral | 量化 · RSI 52 |
| Klarman | bull | 价值 · 目标上涨空间 +41.8% |
| Buffett | bull | 质量 · ROE 评分 5/5 |
| Munger | bull | 估值 · 目标上涨空间 +41.8% |

**公式:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr.

## 芒格视角

- **结论:** 低估
- **财务健康:** Strong
- **安全边际:** Strong
- **利息覆盖率:** Adequate
- **ROIC vs WACC:** Healthy

**公式:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget.

## 技术水平

- **RSI(14):** 52.3 — dengeli — yön sinyali zayıf
- **50日均线:** $74 — hisse %1.5 üstünde — kısa vadeli destek
- **200日均线:** $85 — hisse %11.8 altında — uzun vadeli baskı
- **成交量 (10日):** -20%

## 历史表现 (4个季度)

| 季度 | 实际 EPS | 预期 EPS | 结果 | 反应 |
|---|---|---|---|---|
| Q1 FY25 | $0.83 | $0.51 | BEAT | -1.6% |
| Q2 FY25 | $0.63 | $0.63 | BEAT | +3.9% |
| Q3 FY25 | $3.11 | $0.69 | BEAT | -2.0% |
| Q4 FY25 | $0.14 | $0.79 | +-82.2% EPS | +1.7% |

Q4 (2026年2月4日): EPS $0.14 vs 预期 $0.79<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.history.0" title="FMP">[FMP]</sup>，超出 +%-82.2。D+1 走势：+1.7%<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.timeline.3.reactionLabel" title="FMP D+1">[FMP D+1]</sup>。尽管超出预期，但股价下跌 — 市场对指引而非数据做出反应。

## 3种情景

### 情景 A · 超预期
**Q4 EPS > $0.71 + 资本支出纪律**

阈值：EPS > $0.71<sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg">[FMP est]</sup>。

目标：突破中位数目标价 $107<sup class="cite" data-source="fmp:price-target-consensus" data-field="priceTarget.median">[FMP target]</sup>；高目标价 $125<sup class="cite" data-source="fmp:price-target-consensus" data-field="priceTarget.high">[FMP]</sup> 为上限。

### 情景 B · 符合预期
**EPS ≈ $0.71 + CapEx < $75.0M**

阈值：EPS ≈ $0.71<sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg">[FMP est]</sup>，Q4 资本支出 < $75<sup class="cite" data-source="fmp:quote" data-field="quote.price">[FMP]</sup>.0M<sup class="cite" data-source="fmp:cashflow" data-field="cashflow.qPrev.capexLabel">[FMP]</sup>。

目标：在当前价 $75 与中位数目标价 $107<sup class="cite" data-source="fmp:price-target-consensus" data-field="priceTarget.median">[FMP]</sup> 区间内盘整。

### 情景 C · 未达预期
**EPS < $0.69 或 CapEx ≥ $75.0M**

阈值：EPS < $0.69<sup class="cite" data-source="fmp:earnings-estimate" data-field="estimates.next.epsAvg">[FMP est×0.97]</sup>。

目标：当前价 $75 低于 200日均线 $85<sup class="cite" data-source="fmp:technical" data-field="technical.sma200">[FMP]</sup>，若持续拒绝，则激活 $72<sup class="cite" data-source="derived" data-field="technical.sma200" data-formula="round(sma200*0.85)">[derived]</sup> 支撑位。

## 风险提示

### {{segment}} 低于阈值
Q4 季度：EPS $0.14 vs 预期 $0.79<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.history.0" title="FMP">[FMP]</sup>，超出预期，股价 D+1 +1.7%<sup class="cite" data-source="fmp:earnings-history" data-field="earnings.timeline.3.reactionLabel" title="FMP">[FMP]</sup>。

### 对 OpenAI 的依赖
Q4 财报电话会议中未披露 RPO/积压集中度。

### 内幕交易
Form 4 数据已在表格中标记 — 本页面不为此股票生成假设。

| 高管 | 操作 | 金额 | 日期 |
|---|---|---|---|


**净额:** — (0 笔交易 · 0 笔卖出 · 0 笔买入) · Q4 FY25

### 资本支出冲击
Q4 季度资本支出 $75.0M<sup class="cite" data-source="fmp:cashflow" data-field="cashflow.qPrev.capexLabel" title="FMP cashflow">[FMP cashflow]</sup>。 Q4 营业利润率 %12.3<sup class="cite" data-source="fmp:income" data-field="income.quarters.0.operatingMargin" title="FMP op margin">[FMP op margin]</sup> — Q4 的这一水平对资本支出修订风险敏感。

## 华尔街共识

- **中位数目标价:** $107 (+41.8% upside vs current $75)
- **高 / 低:** $125 / $72
- **买入 / 持有 / 卖出:** 46 / 8 / 1
- **分析师数量:** 12 (上一季度), 137 历史总数

## 额外财报电话会议洞察

### 1. gross_bookings_growth

**主张:** Uber achieved over 20% growth in annual gross bookings in 2025.

**证据 (会议记录):** "Looking at 2025 in full, we had our fifth consecutive year of annual gross bookings over 20%."

**数据:** 20%, 2025

### 2. adjusted_ebitda_growth

**主张:** Uber's adjusted EBITDA increased by 35% to $8.7 billion.

**证据 (会议记录):** "We generated $8.7 billion in adjusted EBITDA, up 35% and a phenomenal $9.8 billion in free cash flow, up 42%."

**数据:** $8.7 billion, 35%, $9.8 billion, 42%

### 3. free_cash_flow_growth

**主张:** Uber's free cash flow increased by 42% to $9.8 billion.

**证据 (会议记录):** "We generated $8.7 billion in adjusted EBITDA, up 35% and a phenomenal $9.8 billion in free cash flow, up 42%."

**数据:** $8.7 billion, 35%, $9.8 billion, 42%

### 4. av_impact_on_growth

**主张:** Uber views the introduction of autonomous vehicles (AVs) as an overall growth driver for the markets in which it operates.

**证据 (会议记录):** "So I think the good news on AV for us is that we view the introduction of AVs as actually an overall growth driver for the markets in which we operate, right?"

**数据:** —

### 5. non_top_20_markets_profit

**主张:** Nearly 75% of Uber's U.S. profits come from markets outside the top 20, and those markets are growing faster.

**证据 (会议记录):** "One additional thing I'd add there is, while you asked about the top market, it's important to remember that 70% of the U.S. is outside of the stock markets and nearly 75% of our U.S. profits come from those markets. And that -- those numbers have been growing because those markets are growing faster than the top 20 cities."

**数据:** 70%, 75%, 20


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*数据来源：FMP (实时查询，2026-05-03)，Q4 FY2025 财报电话会议记录 (由 Gemini 2.0 Flash 翻译成中文)。本工具为教育目的，不构成投资建议。*