Waymo Could Be Worth $75 Billion Valuation Next Year, Brokerage Says
Waymo’s gross bookings, or the amount customers pay to take the robotaxi service, will almost triple this year to $230 million and rise another 61% next year to $370.4 million as the robotaxis expand to more cities, TD Cowen analysts predicted in a report published Thursday.
This surge in paying customers could make the Alphabet-owned unit worth as much as $75 billion next year, up from a valuation of $45 billion when the unit last year raised money from investors including Andreessen Horowitz and Fidelity.
The analysts also estimated a Waymo robotaxi will have to cost $98,000 before an individual car breaks even, or equals the cost of the car, assuming a $16 ride booked on a ridesharing network. For robotaxis on Waymo’s own network, a car that costs $98,000 would generate a profit of 35 cents per trip. The firm estimates that one Waymo robotaxi currently costs $160,000 to build.
The firm’s autonomous vehicles report also predicts that Waymo will command 5% of the robotaxi market in the U.S. by 2034, with Uber and Lyft’s shares, currently at 71% and 28% respectively, decreasing slightly over time, before factoring in partnerships between the ridesharing companies and Waymo.