UBER · Forward model · Freight
What has to happen in Freight
Model as of
This page changes Freight inside the complete UBER model. Every other vertical, corporate programme and valuation assumption stays in the selected portfolio case.
Shares this vertical and portfolio case. Slider and horizon edits stay in your browser.
Freight
Basis quarter$1.58B
Final quarter$1.93B
Implied CAGR+4%
Final revenue mix6%
Brokerage that connects carriers with shippers, reported gross so revenue is almost exactly bookings. It has been roughly flat for three years and has never made money at the segment line.
Last four quarters
2025 Q3
$1.31B
Reported
2025 Q4
$1.27B
Reported
2026 Q1
$1.34B
Reported
2026 Q2
$1.58B
Reported
Freight brokerageTransportation management
Units
1571/qtr
growing +1.0% per quarter
Freight Gross Bookings, $1,571M in the June quarter, in millions of dollars.
Price per unit
$1M
drifting 0.0% per quarter
Just over $1M of revenue per $1M of bookings: Freight is reported on a gross basis.
Freight
Latest: $1.93B (2031Q2E)
| Period | Value |
|---|---|
| 2024Q1 | $1.28B |
| 2024Q2 | $1.27B |
| 2024Q3 | $1.31B |
| 2024Q4 | $1.27B |
| 2025Q1 | $1.26B |
| 2025Q2 | $1.26B |
| 2025Q3 | $1.31B |
| 2025Q4 | $1.27B |
| 2026Q1 | $1.34B |
| 2026Q2 | $1.58B |
| 2026Q3E | $1.60B |
| 2026Q4E | $1.61B |
| 2027Q1E | $1.63B |
| 2027Q2E | $1.65B |
| 2027Q3E | $1.66B |
| 2027Q4E | $1.68B |
| 2028Q1E | $1.70B |
| 2028Q2E | $1.71B |
| 2028Q3E | $1.73B |
| 2028Q4E | $1.75B |
| 2029Q1E | $1.77B |
| 2029Q2E | $1.78B |
| 2029Q3E | $1.80B |
| 2029Q4E | $1.82B |
| 2030Q1E | $1.84B |
| 2030Q2E | $1.86B |
| 2030Q3E | $1.87B |
| 2030Q4E | $1.89B |
| 2031Q1E | $1.91B |
| 2031Q2E | $1.93B |
Assumptions & reasoning
- Freight is about 3% of revenue and has produced a segment operating loss in every reported quarter, so it moves the fair value very little in any direction.
- It is kept as its own vertical rather than folded away because Uber reports it as one of three segments, and removing it would break the reconciliation to consolidated revenue.
- The 25% year-on-year bookings growth in the June quarter comes off a multi-year freight recession rather than from share gains, so it is not extrapolated.