Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin10.7%
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin19.3%
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Financial Health
C
Years to Pay Off Debt1.2 yrs
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital vs Long-Term Debt-$8.8B
Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.
Working Capital$1.7B
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Valuation
N/A
Cash Flow
A
Free Cash Flow$9.8B
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
CapEx % of Net Income3.3%
Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.
Owner Earnings$11.1B
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
Metric Explanations
What each dimension measures and where the thresholds come from.
Gross Profit Margin
Revenue minus cost of goods sold. Graham's ≥40% threshold identifies businesses with durable pricing power. Note: software and financial companies naturally exceed this; retailers and manufacturers rarely reach it due to their cost structures.
Operating Margin
Profit after operating costs before interest and taxes. A consistent ≥15% operating margin signals a business with real competitive advantages. Capital-intensive industries (airlines, auto, commodities) rarely hit this threshold due to their structural cost base — compare within industry for context.
Net Income Margin
Bottom-line profit as a percentage of revenue. The ≥20% target reflects Buffett's preference for highly profitable businesses. Financial engineering (buybacks, tax optimisation) can inflate this temporarily — look for consistency across multiple years rather than a single strong result.
Years to Pay Off Debt
Total Debt ÷ Net Income. Lower = stronger balance sheet. Important caveat: utilities, telecoms, REITs, and infrastructure companies carry large structural debt by design — their bond-like cash flows service it comfortably at ratios that would alarm Graham. Compare within sector.
Working Capital vs Long-Term Debt
Working Capital minus Long-Term Debt. Negative results are common and expected in capital-return-focused businesses like Apple, Domino's, and McDonald's — where aggressive buybacks and dividends intentionally reduce book equity. This does not indicate financial distress in high-FCF businesses.
Working Capital
Current Assets minus Current Liabilities. Negative working capital can be a deliberate efficiency strategy in businesses that collect cash before paying suppliers (retailers, fast food franchises, subscription businesses). Assess alongside free cash flow generation for full context.
Free Cash Flow
Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.
CapEx % of Net Income
Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.
Owner Earnings
Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.
Market Data
Key Margins
Gross Profit39.8%
Operating Margin10.7%
Net Margin19.3%
Company Info
Showing Key Metrics
Income Highlights
Metric
2025
2024
2023
2022
2021
Gross Profit %
39.8%▲
39.4%▼
39.8%▲
38.3%•
N/A
Operating Margin %
10.7%▲
6.4%▲
3.0%▲
-5.7%•
N/A
Net Income %
19.3%▼
22.4%▲
5.1%▲
-28.7%•
N/A
Diluted EPS
4.73▲
4.56▲
0.87▲
-4.65•
N/A
Balance Sheet Highlights
Metric
2025
2024
2023
2022
2021
Total Assets
$61.8B
$51.2B
$38.7B
$32.1B
N/A
Total Debt
$12.1B▲
$11.1B▼
$11.2B▲
$11.1B•
N/A
Working Capital
$1.7B▲
$769M▼
$1.8B▲
$396M•
N/A
Years to Pay Debt
1.20
1.13
5.95
-1.22
N/A
Cash Flow Highlights
Metric
2025
2024
2023
2022
2021
Free Cash Flow
$9.8B▲
$6.9B▲
$3.4B▲
$390M•
N/A
Owner Earnings
$11.1B
$10.8B
$2.9B
-$7.9B
N/A
CapEx % of Net Income
3.3%
2.5%
11.8%
N/A
N/A
Income Statement
2025
2024
2023
2022
2021
Tax Effect Of Unusual Items
-2,046
308,842
143,336
-136,211
Tax Rate For Calcs
0
0
0
0
Normalized EBITDA
6,995,000
4,180,000
2,219,000
-745,000
Total Unusual Items
-8,000
1,205,000
1,558,000
-7,169,000
Total Unusual Items Excluding Goodwill
-8,000
1,205,000
1,558,000
-7,169,000
Net Income From Continuing Operation Net Minority Interest
10,053,000
9,856,000
1,887,000
-9,141,000
Reconciled Depreciation
747,000
737,000
823,000
947,000
Reconciled Cost Of Revenue
31,310,000
26,625,000
22,457,000
19,659,000
EBITDA
6,987,000
5,385,000
3,777,000
-7,914,000
EBIT
6,240,000
4,648,000
2,954,000
-8,861,000
Net Interest Income
303,000
198,000
-149,000
-426,000
Interest Expense
440,000
523,000
633,000
565,000
Interest Income
743,000
721,000
484,000
139,000
Normalized Income
10,058,954
8,959,842
472,336
-2,108,211
Net Income From Continuing And Discontinued Operation
10,053,000
9,856,000
1,887,000
-9,141,000
Total Expenses
46,452,000
41,179,000
36,171,000
33,709,000
Total Operating Income As Reported
5,565,000
2,799,000
1,110,000
-1,832,000
Diluted Average Shares
2,119,689
2,150,508
2,091,782
1,974,928
Basic Average Shares
2,085,253
2,094,602
2,035,651
1,972,131
Diluted EPS
0
0
0
0
Basic EPS
0
0
0
0
Diluted NI Availto Com Stockholders
10,016,000
9,807,000
1,827,000
-9,182,000
Average Dilution Earnings
-37,000
-49,000
-60,000
-41,000
Net Income Common Stockholders
10,053,000
9,856,000
1,887,000
-9,141,000
Net Income
10,053,000
9,856,000
1,887,000
-9,141,000
Minority Interests
-40,000
11,000
-269,000
-3,000
Net Income Including Noncontrolling Interests
10,093,000
9,845,000
2,156,000
-9,138,000
Net Income Continuous Operations
10,093,000
9,845,000
2,156,000
-9,138,000
Earnings From Equity Interest Net Of Tax
-53,000
-38,000
48,000
107,000
Tax Provision
-4,346,000
-5,758,000
213,000
-181,000
Pretax Income
5,800,000
4,125,000
2,321,000
-9,426,000
Other Income Expense
-68,000
1,128,000
1,360,000
-7,168,000
Other Non Operating Income Expenses
-60,000
-77,000
-198,000
1,000
Special Income Charges
0
-236,000
204,000
-168,000
Gain On Sale Of Business
0
0
204,000
14,000
Write Off
0
0
182,000
0
Restructuring And Mergern Acquisition
0
236,000
0
0
Gain On Sale Of Security
-8,000
1,441,000
1,354,000
-7,001,000
Net Non Operating Interest Income Expense
303,000
198,000
-149,000
-426,000
Interest Expense Non Operating
440,000
523,000
633,000
565,000
Interest Income Non Operating
743,000
721,000
484,000
139,000
Operating Income
5,565,000
2,799,000
1,110,000
-1,832,000
Operating Expense
15,114,000
14,528,000
13,714,000
14,050,000
Other Operating Expenses
2,854,000
2,732,000
2,689,000
2,413,000
Depreciation Amortization Depletion Income Statement
719,000
711,000
823,000
947,000
Depreciation And Amortization In Income Statement
719,000
711,000
823,000
947,000
Research And Development
3,402,000
3,109,000
3,164,000
2,798,000
Selling General And Administration
8,139,000
7,976,000
7,038,000
7,892,000
Selling And Marketing Expense
4,898,000
4,337,000
4,356,000
4,756,000
General And Administrative Expense
3,241,000
3,639,000
2,682,000
3,136,000
Other Gand A
3,241,000
3,639,000
2,682,000
3,136,000
Gross Profit
20,679,000
17,327,000
14,824,000
12,218,000
Cost Of Revenue
31,338,000
26,651,000
22,457,000
19,659,000
Total Revenue
52,017,000
43,978,000
37,281,000
31,877,000
Operating Revenue
52,017,000
43,978,000
37,281,000
31,877,000
Balance Sheet
2025
2024
2023
2022
2021
Ordinary Shares Number
2,067,905
2,107,953
2,071,144
2,005,486
Share Issued
2,067,905
2,107,953
2,071,144
2,005,486
Net Debt
3,416,000
3,604,000
4,804,000
5,057,000
Total Debt
12,080,000
11,126,000
11,224,000
11,139,000
Tangible Book Value
17,062,000
12,367,000
1,673,000
-2,797,000
Invested Capital
37,562,000
31,055,000
20,733,000
16,605,000
Working Capital
1,673,000
769,000
1,843,000
396,000
Net Tangible Assets
17,062,000
12,367,000
1,673,000
-2,797,000
Capital Lease Obligations
1,559,000
1,629,000
1,740,000
1,874,000
Common Stock Equity
27,041,000
21,558,000
11,249,000
7,340,000
Total Capitalization
37,562,000
29,905,000
20,708,000
16,605,000
Total Equity Gross Minority Interest
28,083,000
22,476,000
12,682,000
8,504,000
Minority Interest
1,042,000
918,000
1,433,000
1,164,000
Stockholders Equity
27,041,000
21,558,000
11,249,000
7,340,000
Gains Losses Not Affecting Retained Earnings
-432,000
-517,000
-421,000
-443,000
Other Equity Adjustments
-432,000
-517,000
-421,000
-443,000
Retained Earnings
-10,628,000
-20,726,000
-30,594,000
-32,767,000
Additional Paid In Capital
38,101,000
42,801,000
42,264,000
40,550,000
Total Liabilities Net Minority Interest
33,719,000
28,768,000
26,017,000
23,605,000
Total Non Current Liabilities Net Minority Interest
21,399,000
17,292,000
16,563,000
14,752,000
Other Non Current Liabilities
381,000
440,000
589,000
759,000
Preferred Securities Outside Stock Equity
204,000
Non Current Deferred Liabilities
31,000
9,000
56,000
27,000
Non Current Deferred Taxes Liabilities
31,000
9,000
56,000
27,000
Long Term Debt And Capital Lease Obligation
11,911,000
9,801,000
11,009,000
10,938,000
Long Term Capital Lease Obligation
1,390,000
1,454,000
1,550,000
1,673,000
Long Term Debt
10,521,000
8,347,000
9,459,000
9,265,000
Long Term Provisions
9,076,000
7,042,000
4,909,000
3,028,000
Current Liabilities
12,320,000
11,476,000
9,454,000
8,853,000
Other Current Liabilities
2,263,000
2,185,000
1,938,000
2,003,000
Current Debt And Capital Lease Obligation
169,000
1,325,000
215,000
201,000
Current Capital Lease Obligation
169,000
175,000
190,000
201,000
Current Debt
1,150,000
25,000
Other Current Borrowings
1,150,000
25,000
Pensionand Other Post Retirement Benefit Plans Current
777,000
649,000
710,000
587,000
Current Provisions
3,387,000
2,754,000
2,077,000
1,692,000
Payables And Accrued Expenses
5,724,000
4,563,000
4,514,000
4,370,000
Current Accrued Expenses
1,626,000
1,421,000
1,996,000
1,593,000
Payables
4,098,000
3,142,000
2,518,000
2,777,000
Total Tax Payable
3,085,000
2,284,000
1,728,000
2,049,000
Income Tax Payable
1,033,000
751,000
684,000
476,000
Accounts Payable
1,013,000
858,000
790,000
728,000
Total Assets
61,802,000
51,244,000
38,699,000
32,109,000
Total Non Current Assets
47,809,000
38,999,000
27,402,000
22,860,000
Other Non Current Assets
14,403,000
11,765,000
7,888,000
3,921,000
Non Current Deferred Assets
10,951,000
6,171,000
170,000
Non Current Deferred Taxes Assets
10,951,000
6,171,000
170,000
Non Current Note Receivables
119,000
144,000
126,000
110,000
Investments And Advances
9,346,000
8,618,000
6,328,000
5,161,000
Investmentin Financial Assets
9,059,000
8,316,000
5,975,000
4,291,000
Held To Maturity Securities
1,726,000
3,821,000
Available For Sale Securities
9,059,000
8,316,000
5,975,000
4,291,000
Long Term Equity Investment
287,000
302,000
353,000
870,000
Goodwill And Other Intangible Assets
9,979,000
9,191,000
9,576,000
10,137,000
Other Intangible Assets
1,048,000
1,125,000
1,425,000
1,874,000
Goodwill
8,931,000
8,066,000
8,151,000
8,263,000
Net PPE
3,011,000
3,110,000
3,314,000
3,531,000
Accumulated Depreciation
-1,850,000
-1,598,000
-1,401,000
-1,285,000
Gross PPE
4,861,000
4,708,000
4,715,000
4,816,000
Leases
773,000
670,000
658,000
609,000
Construction In Progress
220,000
218,000
203,000
219,000
Other Properties
1,114,000
1,158,000
1,241,000
1,449,000
Machinery Furniture Equipment
1,949,000
1,858,000
1,809,000
1,735,000
Buildings And Improvements
740,000
739,000
739,000
739,000
Land And Improvements
65,000
65,000
65,000
65,000
Current Assets
13,993,000
12,245,000
11,297,000
9,249,000
Other Current Assets
1,494,000
975,000
564,000
459,000
Restricted Cash
631,000
545,000
805,000
680,000
Prepaid Assets
408,000
415,000
400,000
310,000
Receivables
3,827,000
3,333,000
4,121,000
3,489,000
Other Receivables
482,000
717,000
710,000
553,000
Accounts Receivable
3,827,000
3,333,000
3,404,000
2,779,000
Allowance For Doubtful Accounts Receivable
-91,000
-95,000
-91,000
-80,000
Gross Accounts Receivable
3,918,000
3,428,000
3,495,000
2,859,000
Cash Cash Equivalents And Short Term Investments
7,633,000
6,977,000
5,407,000
4,311,000
Other Short Term Investments
528,000
1,084,000
727,000
103,000
Cash And Cash Equivalents
7,105,000
5,893,000
4,680,000
4,208,000
Cash Flow
2025
2024
2023
2022
2021
Free Cash Flow
9,763,000
6,895,000
3,362,000
390,000
Repurchase Of Capital Stock
-6,523,000
-1,252,000
0
0
Repayment Of Debt
-2,507,000
-4,158,000
-2,846,000
-264,000
Issuance Of Debt
3,359,000
3,972,000
2,824,000
0
Issuance Of Capital Stock
0
0
255,000
675,000
Capital Expenditure
-336,000
-242,000
-223,000
-252,000
Interest Paid Supplemental Data
386,000
475,000
629,000
513,000
Income Tax Paid Supplemental Data
345,000
324,000
234,000
175,000
End Cash Position
9,647,000
8,610,000
7,004,000
6,677,000
Other Cash Adjustment Outside Changein Cash
0
0
349,000
Beginning Cash Position
8,610,000
7,004,000
6,677,000
7,805,000
Effect Of Exchange Rate Changes
215,000
-267,000
63,000
-148,000
Changes In Cash
822,000
1,873,000
264,000
-980,000
Financing Cash Flow
-5,713,000
-2,087,000
-95,000
15,000
Cash Flow From Continuing Financing Activities
-5,713,000
-2,087,000
-95,000
15,000
Net Other Financing Charges
-225,000
-805,000
-203,000
-68,000
Proceeds From Stock Option Exercised
183,000
156,000
130,000
92,000
Net Preferred Stock Issuance
675,000
Preferred Stock Issuance
675,000
Net Common Stock Issuance
-6,523,000
-1,252,000
0
255,000
Common Stock Payments
-6,523,000
-1,252,000
0
0
Common Stock Issuance
0
0
255,000
675,000
Net Issuance Payments Of Debt
852,000
-186,000
-22,000
-264,000
Net Long Term Debt Issuance
852,000
-186,000
-22,000
-264,000
Long Term Debt Payments
-2,507,000
-4,158,000
-2,846,000
-264,000
Long Term Debt Issuance
3,359,000
3,972,000
2,824,000
0
Investing Cash Flow
-3,564,000
-3,177,000
-3,226,000
-1,637,000
Cash Flow From Continuing Investing Activities
-3,564,000
-3,177,000
-3,226,000
-1,637,000
Net Other Investing Changes
-336,000
-102,000
33,000
-6,000
Net Investment Purchase And Sale
-2,077,000
-2,850,000
-3,757,000
-1,346,000
Sale Of Investment
20,046,000
10,204,000
5,069,000
376,000
Purchase Of Investment
-22,123,000
-13,054,000
-8,826,000
-1,722,000
Net Business Purchase And Sale
-815,000
17,000
721,000
-33,000
Sale Of Business
0
17,000
721,000
26,000
Purchase Of Business
-815,000
0
0
-59,000
Net PPE Purchase And Sale
-336,000
-242,000
-223,000
-252,000
Purchase Of PPE
-336,000
-242,000
-223,000
-252,000
Operating Cash Flow
10,099,000
7,137,000
3,585,000
642,000
Cash Flow From Continuing Operating Activities
10,099,000
7,137,000
3,585,000
642,000
Change In Working Capital
2,227,000
2,374,000
165,000
335,000
Change In Other Working Capital
2,015,000
736,000
1,376,000
Change In Other Current Liabilities
-209,000
-221,000
-180,000
-215,000
Change In Other Current Assets
177,000
196,000
191,000
193,000
Change In Payables And Accrued Expense
3,753,000
3,235,000
2,374,000
1,095,000
Change In Accrued Expense
3,627,000
3,149,000
2,310,000
1,228,000
Change In Payable
126,000
86,000
64,000
-133,000
Change In Account Payable
126,000
86,000
64,000
-133,000
Change In Prepaid Assets
-1,028,000
-694,000
-1,462,000
-196,000
Change In Receivables
-466,000
-142,000
-758,000
-542,000
Changes In Account Receivables
-466,000
-142,000
-758,000
-542,000
Other Non Cash Items
8,000
-64,000
-48,000
-7,000
Stock Based Compensation
1,826,000
1,796,000
1,935,000
1,793,000
Unrealized Gain Loss On Investment Securities
97,000
-1,832,000
-1,610,000
7,045,000
Asset Impairment Charge
61,000
178,000
324,000
225,000
Deferred Tax
-4,779,000
-6,027,000
26,000
-441,000
Deferred Income Tax
-4,779,000
-6,027,000
26,000
-441,000
Depreciation Amortization Depletion
747,000
737,000
823,000
947,000
Depreciation And Amortization
747,000
737,000
823,000
947,000
Operating Gains Losses
-120,000
308,000
138,000
-216,000
Earnings Losses From Equity Investments
38,000
-48,000
-107,000
37,000
Gain Loss On Investment Securities
74,000
-191,000
-413,000
Net Foreign Currency Exchange Gain Loss
-120,000
308,000
138,000
96,000
Gain Loss On Sale Of Business
0
-204,000
-14,000
-1,684,000
Net Income From Continuing Operations
10,093,000
9,845,000
2,156,000
-9,138,000
2/5
Graham Score
Speculative Investor
Fails most of Graham's safety criteria. Treat with caution.
Graham's Fair Value
N/A
N/A — requires
positive EPS and positive book value per share. Check the Financials tab for earnings history.
Margin of Safety
—
Market Cap / Net Assets
N/A
Net Assets: $28.1B
Warren's Owner Earnings
$11.1B
Latest fiscal year
Graham's 7 Criteria
Defensive Investor Checklist
2/5 — Speculative Investor
✅
Adequate Size
Graham required companies large enough to withstand economic downturns. This threshold ($1.5B) is inflation-adjusted from Graham's original $100M — virtually all S&P 500 companies pass this today.
$52.0B
vs > $1.5B revenue
❌
Strong Financial Condition
Current assets must be at least twice current liabilities. Note: highly profitable companies (Apple, Domino's) often run negative or low working capital deliberately — they collect cash fast and stretch payables. A failing score here is not always a warning sign.
1.14x
vs Current Ratio > 2.0x
❌
Earnings Stability
Graham required uninterrupted positive earnings. Any loss year is a red flag for defensive investors. Growth companies and cyclicals may show occasional losses during investment cycles or downturns without being fundamentally unsound.
1 loss years (4 yrs data)
vs No negative EPS years
❌
Dividend Record
Graham valued dividends as evidence of financial discipline and shareholder alignment. Many excellent modern businesses (Alphabet, Amazon, Berkshire Hathaway) pay no dividend, preferring to reinvest cash at high rates of return. Failing this criterion does not indicate a poor business — it may indicate a high-growth one.
No dividend
vs Uninterrupted dividends
✅
Earnings Growth
EPS grew from $0.87 to $4.73 over 2 years. Graham's 33% threshold was set over a 10-year period. Measured over fewer years (as here), the bar is proportionally lower. Share buybacks can also inflate EPS growth without reflecting underlying business improvement.
+443.7% EPS growth
vs > 33% EPS growth
Graham's 7 Criteria — Explained
What each criterion measures and why it matters.
✅ Adequate Size — $52.0Bvs > $1.5B revenue
Graham required companies large enough to withstand economic downturns. This threshold ($1.5B) is inflation-adjusted from Graham's original $100M — virtually all S&P 500 companies pass this today.
"The minimum size of an enterprise should be not less than $100 million of annual sales."
❌ Strong Financial Condition — 1.14xvs Current Ratio > 2.0x
Current assets must be at least twice current liabilities. Note: highly profitable companies (Apple, Domino's) often run negative or low working capital deliberately — they collect cash fast and stretch payables. A failing score here is not always a warning sign.
"For industrial companies, current assets should be at least twice current liabilities."
❌ Earnings Stability — 1 loss years (4 yrs data)vs No negative EPS years
Graham required uninterrupted positive earnings. Any loss year is a red flag for defensive investors. Growth companies and cyclicals may show occasional losses during investment cycles or downturns without being fundamentally unsound.
"The company should have shown no deficit in the past ten years."
❌ Dividend Record — No dividendvs Uninterrupted dividends
Graham valued dividends as evidence of financial discipline and shareholder alignment. Many excellent modern businesses (Alphabet, Amazon, Berkshire Hathaway) pay no dividend, preferring to reinvest cash at high rates of return. Failing this criterion does not indicate a poor business — it may indicate a high-growth one.
"Some current dividend payments — for at least the past 20 years."
EPS grew from $0.87 to $4.73 over 2 years. Graham's 33% threshold was set over a 10-year period. Measured over fewer years (as here), the bar is proportionally lower. Share buybacks can also inflate EPS growth without reflecting underlying business improvement.
"A minimum increase of at least one-third in per-share earnings over ten years."
These metrics estimate what UBER is worth based on fundamentals — independent of what the market prices it at.
Graham's Fair Value and NCAV are conservative floors.
EPV assumes zero growth. These are reference points, not price targets.
Net Current Asset Value
N/A
"Buy at two-thirds of net current assets." — Graham
Earnings Power Value
N/A
Per share, no-growth floor. Compare to current price.
ROIC — Return on Invested Capital
8.9%
Return on Invested Capital — Buffett's preferred measure for asset-light businesses. ROIC > 15% consistently signals a durable competitive advantage (moat). More meaningful than P/B for software, pharma, and consumer brand companies where most value is intangible and off-balance-sheet.
Cash Flow Analysis
Metric
2025
2024
2023
2022
2021
Capital Expenditure % of Net Income
3.3%
2.5%
11.8%
N/A
N/A
Repurchase of Capital Stock
-$6.5B
-$1.3B
$0M
$0M
N/A
Free Cash Flow
$9.8B▲
$6.9B▲
$3.4B▲
$390M•
N/A•
Warren's Owner Earnings
$11.1B
$10.8B
$2.9B
-$7.9B
N/A
Peers & Industry
No auto-detected peers for this industry. You can manually compare UBER against any stock using the Compare tool.
"The management of a business is its most important single factor — more important than market position, patents, or financial structure."
— Benjamin Graham
Capital Allocation & Alignment
Insider Ownership
0.21%
Low — management has little skin in the game
Return on Equity (ROE)
37.2%
Excellent — management generates strong returns on equity
Return on Assets (ROA)
16.3%
Strong — management uses assets efficiently
Share Buybacks (Latest Year)
$6.5B
Management is returning capital to shareholders via buybacks
Debt Trend YoY
+8.6% YoY
Debt is roughly stable
Leadership Team
Dara Khosrowshahi
CEO & Director
Age 55
Pay: $4,476,540
0.045% of net income
Jill Hazelbaker
President & Chief Corporate Affairs Officer
Age 43
Pay: $2,369,988
0.024% of net income
Andrew Macdonald
President & COO
Age 40
Pay: $3,260,987
0.032% of net income
Garrett Camp
Co-Founder, Board Observer & Product Advisor
Age 46
Pay: $18,033
0.000% of net income
Balaji Krishnamurthy
Chief Financial Officer
Age 40
Top Institutional Holders
Institution
% Owned
Shares
Blackrock Inc.
7.15%
145,969,768
Vanguard Capital Management LLC
6.51%
132,890,128
Capital Research Global Investors
6.40%
130,662,156
State Street Corporation
4.39%
89,691,411
Morgan Stanley
3.57%
72,847,766
Public Investment Fund
3.57%
72,840,541
Geode Capital Management, LLC
2.24%
45,812,652
Vanguard Portfolio Management LLC
1.69%
34,448,091
⚠️Current ratio below 1 — liquidity risk
Risk Analysis
Beta (Market Risk)
1.16
Moderate volatility — moves slightly more than market
Short Interest
2.3% of float
Low short interest — market is not heavily bearish
Debt-to-Equity
0.52x
Conservative balance sheet — low financial risk
Current Ratio
0.84x
Weak liquidity — current liabilities exceed current assets
52-Week Price Range
Low: $65.41Current: $70.84High: $101.30
Currently at 15% of 52-week range
UBER (UBER) fundamental analysis — Overall grade B based on profitability, financial health, valuation and cash flow. Graham's
Fair Value: N/A. Gross profit margin: 39.8%. Operating margin: 10.7%. Net margin: 19.3%. Analysis powered by 360investing — free fundamental stock analysis based on Benjamin Graham and Warren Buffett
principles.
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