Uber Technologies UBER
The three reasons
- 1
29x P/E understates a 30%+ EPS grower; share price likely to more than double in 3-4 years
- 2
AV threat is overstated: delivery plus international mobility already >50% of bookings
- 3
Fixed-cost operating leverage (3% headcount growth vs. 20% bookings CAGR) drives margin expansion
KPIs cited
Pattern membership
Where this document fits across the library's 12 rhetorical / structural patterns.
Notable slides (5)
Notes
Excerpt from a larger Pershing Square presentation (internal page numbers 67-71), likely the Feb 2025 annual investor update where Ackman disclosed the new Uber position. This is a LONG thesis, not a traditional activist campaign: no board demands, no CEO criticism (Dara Khosrowshahi is praised for 'vastly improved operational discipline'). Core SCQA: market fears AV disruption (Situation/Complication) so trades Uber at 29x despite 30% EPS growth (Question); Pershing argues AV risk is limited and margin expansion intact (Answer). Watermarked 'www.10xEBITDA.com' indicates the PDF was sourced from that third-party site, not Pershing directly. No peer-gap chart, no sum-of-parts - thesis rests on multiple re-rating plus management's own EPS guidance.