Grab vs Uber
Uber reported revenue of $52.0 billion in fiscal 2025, 15.4 times Grab's $3.4 billion in fiscal 2025. Grab's revenue grew 20.5% in its latest year, and Uber's grew 18.3%. Grab had an operating margin of 1.9%, against 10.7% at Uber. Free cash flow was −$18 million at Grab and $9.8 billion at Uber.
Side by side
| Grab | Uber | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $3.4B | $52.0B |
| Revenue growth | 20.5% | 18.3% |
| Revenue growth a year, last 5 years | 48.4% | 36.1% |
| Gross margin | 43.2% | — |
| Operating margin | 1.9% | 10.7% |
| Net margin | 8.0% | 19.3% |
| Free cash flow | −$18M | $9.8B |
| Free cash flow margin | −0.5% | 18.8% |
| Return on capital | 0.9% | 19.7% |
| Net debt to EBITDA | 1.2x | 0.5x |
| Dividends and buybacks | $274M | $6.5B |
| Change in diluted share count | 5.3% | −1.4% |
| Last close | $2.71 | $66.13 |
| P/E at the last close | — | 14.5× |
| Insider trades, last 12 months | bought $30.8 million, sold $11.3 million | bought $16.9 million, sold $5.6 million |
| Piotroski F-score | 5 of 9 | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
GrabUber
Operating margin
Percent of revenue
GrabUber
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
GrabUber