How can I tell how many speeds my road bike has? I have a Shimano Ultegra groupset. Thx
Traditionally 'speeds' meant the number of gear configurations available. This is the number of sprockets in the cassette (or on the freewheel for older bikes) multiplied by the number of chainrings - hence the iconic '10 speed racer' for a bike with 5 sprockets in the rear and 2 chainrings.
These days people tend to use 'speeds' to refer to just the number of sprockets in the cassette, and it seems to have come to refer to the technological advancement or quality of the groupset, as newer more expensive grousets have more sprockets and older or cheaper groupsets have fewer.
If you want to talk about the number of gear configurations you bike of groupset has, most people now write [number of chainrings] x [number sprockets in rear], e.g. '2x11' (spoken: 'two by eleven') instead of '22 speed'.