| Segment | Value | % of Price | Type |
|---|---|---|---|
| Net Cash | $10 | 12% | auditable |
| Mobility (Rides) | $43 | 51% | anchored |
| Delivery (Uber Eats + Grocery) | $18 | 22% | anchored |
| Freight + Platform | $8 | 10% | anchored |
Anchored: $70/sh (82%) · Speculative: $0/sh (0%)
Uber Mobility is a global network-effects business operating in 70+ countries. The AV question is the dominant uncertainty: platform or disintermediation?
Uber Delivery has transformed from money-losing to profitable, driven by advertising revenue and operating leverage. The DoorDash competition and grocery unit economics are the key risks.
Freight/Platform combines the weakest near-term business (Freight) with the highest-optionality bet (AV platform). Advertising is the bridge providing real near-term margin contribution.