As of Q4'25, UBER's latest Price-to-Book (P/B) ratio stands at 6.23, marking the lowest point in the observed period. This represents a continued decline from the previous quarter (Q3'25), where the P/B ratio was 6.99. From Q1'23 to Q4'25, UBER's P/B ratio exhibited significant volatility, peaking at 15.02 in Q4'23 before entering a sustained downward trend. After reaching this high, the ratio steadily decreased over the following quarters, indicating a notable contraction in valuation relative to book value. This trend suggests a shift in market sentiment or underlying fundamentals, with the P/B ratio falling by more than half from its peak within two years.