As of Q4'25, Uber's cash and short-term investments stood at $8.26B, reflecting a decline of approximately 13.5% from the Q3'25 peak of $9.56B, while total debt was reported at $12.08B, down slightly from $12.19B in the prior quarter. This positions the company's net debt at around $3.82B, indicating a modestly improved liquidity position in the latest period. Over the timeframe from Q1'23 to Q4'25, cash and short-term investments exhibited strong overall growth, rising from $4.17B to $8.26B—a compound annual growth rate of about 25%—with notable surges in Q3'24 (to $10B) and Q3'25 (to $9.56B), though tempered by periodic dips such as in Q4'24 and Q4'25. In contrast, debt remained relatively stable, fluctuating between $9.98B and $12.66B, with a slight upward trend in 2025 driven by increases in Q2'25 and Q3'25 before the minor pullback; this dynamic underscores Uber's improving cash reserves amid controlled leverage, enhancing financial flexibility for analysts monitoring balance sheet health.