It’s been five weeks now since Lyft has gone public. In that time, Lyft has taken a 38.6% haircut from the peak reached on the very first day of trading — Fibonacci fans rejoice. With the Uber IPO on deck, investors are surely wondering if it will turn out like Lyft’s IPO or if it’s different this time. Or maybe the entire ride-sharing business model is in a bear market.

To help get a clearer picture, I looked through Canalyst’s pre-IPO and equity models to compare the two companies. One of my favorite things about their models is uniformity. I can easily compare two similar companies and get custom comp sheets made upon request. Follow @CanalystModels on Twitter and then DM them with promo code RAMP and they’ll email you the Uber and Lyft models for free.

A couple of things that I thought were interesting in the model comparison:

Uber’s take rate, or the percentage of revenue made per gross booking, is much less than Lyft’s and the gap is getting wider.

Overall, Uber expects their take rate to decrease in the near term (P112 of S-1/A). They may reduce driver incentives based on market dynamics, which would increase their take rate (P115). However, increasing their take rate was not currently communicated as part of their growth strategy.

Lyft, on the other hand, “expect [their] revenue as a percentage of bookings to continue to increase over time as [they] improve the utilization of driver hours, increase the efficiency of driver incentives and grow revenue from [their] network” (P83 424B).