Lyft, Inc. (LYFT) Stock

Lyft, Inc. (LYFT) is a Technology stock trading at $17.38 (as of 2026-08-20), with a market capitalization of $6.58B and a trailing P/E of 52.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Lyft, Inc. operates a ridesharing marketplace that connects riders and drivers across the United States and Canada, along with related mobility offerings such as car rental programs and bike and scooter networks for short trips. The company also integrates transportation data into its app and provides additional services and programs for commuters and organizations.

Understand Lyft, Inc.: how it makes money

Lyft operates a peer-to-peer marketplace for on-demand ridesharing, connecting drivers with riders in the United States and Canada, and it also offers mobility programs such as Express Drive rentals, Lyft Rentals, and shared bikes and scooters. It generates revenue through these mobility marketplace and transportation offerings.

Lyft's results depend on how much gross ride and mobility revenue it can produce, after subtracting large incentive-related amounts that are classified as contra revenue, while also managing its cost of revenue.

Business quality (Solid): The business shows meaningful scale (Active Riders 28.3 million) and measured retention signals (PriceLock Retention Rate 75%, Lyft Silver Retention Rate 80%), but the latest quarter still had a slightly negative operating margin (operating margin -0.3%), suggesting profitability is challenging when incentives and costs are considered.

Valuation: Trades at 2× trailing earnings · $5B market cap.

Bull case

Large and ongoing rider network: Active Riders were 28.3 million in the latest period, supported by Drivers Active at Record Level of 1.0 million.
Retention and repeat-ride indicators are in place: PriceLock Retention Rate was 75%, Lyft Silver Retention Rate was 80%, and Wait and Save Riders Ride Frequency Versus Typical was 2.0.
Partnerships and network effects appear meaningful: Partner-Tagged Rides Share was 27%, and Rides Linked to Partnerships North America Share was 27%.

Bear case

Profitability is pressured: Operating margin was -0.3% in the latest quarter, indicating the business operated at a loss at the operating level.
Incentives are a material drag on reported revenue: Incentives Classified as Contra Revenue were 0.38B, which reduces GAAP Revenue relative to Revenue (GAAP Revenue 1.6B versus Revenue 1.7B).
Service quality and driver-side friction can impact rider experience: Driver Cancellation Rate was 4.7%, which can affect ride availability and customer satisfaction.

Valuation — source: SEC EDGAR (first-party)
Price	$17.38
Market Cap	$6.58B
P/E Ratio	52.7
EV / EBITDA	18.7
Price / Book	2.18
Price / Sales	0.96
DCF Value (model)	$56.94
DCF Upside vs Price	227.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$6.32B
Net Margin	45.0%
Revenue Growth (YoY)	9.2%
EPS Growth (YoY)	11433.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	-0.01 (distress)
Piotroski F-Score	4/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	52.7
Sector P/E (Technology)	33.9
Industry P/E (Business Services)	30.0
vs Sector	55.3%
vs Industry	75.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($716.16M)
Institutional Holders Tracked	10
Congressional Trades (recent)	2

Company
Sector	Technology
Industry	Business Services
CEO	John David Risher
Employees	2,934
Country	US
IPO Date	2019-03-29

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.