U-Haul Holding Company UHAL

IndustrialsFreight & Logistics ServicesUnited States of America

Last close 57.50 USD on Nov 1, 2026, +14.1% year to date

Quant rating

Quant rating C Rank 258 of 486 in Industrials

Growth B 76 of 486
Valuation C 217 of 486
Quality D 410 of 486
Revisions A 46 of 486
Momentum C 295 of 486

Wall Street consensus Hold (2.67)Average target 83.86 USD +45.8%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 10.0B
Enterprise value: 16.8B
52-week range: 41.95 – 76.45
3-year range: 41.95 – 78.40
Dividend yield: –
Beta (5 years): 1.14
Shares outstanding: 194M
Next earnings: Nov 4, 2026

About the company

U-Haul Holding Company is a do-it-yourself moving and storage operator through its subsidiary U-Haul International, Inc. (U-Haul). Its primary focus is to provide its customers with a selection of moving rental equipment, convenient self-storage rental facilities and portable moving and storage units and related moving and self-storage products and services. Its segments include Moving and Storage, Property and Casualty Insurance, and Life Insurance. The Moving and Storage segment consists of the rental of trucks and trailers, portable moving and storage units, specialty rental items and self-storage spaces primarily to the household mover, as well as sales of moving supplies, towing accessories and propane. Its Property and Casualty Insurance segment provides loss adjusting and claims handling for U-Haul through regional offices in the United States and Canada. The Life Insurance segment provides life and health insurance products primarily for the senior market.

Growth and profitability fiscal year ends March 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	6,038	5,829	5,626	5,865	5,740	–
Revenue growth	3.6%	3.6%	−4.1%	2.2%	26.4%	5.9%
EPS (basic, normalized)	0.24	1.69	3.22	47.07	57.29	–
EPS growth	−85.8%	−47.5%	−93.2%	−17.8%	–	–
Gross margin	36.2%	36.7%	37.2%	41.1%	45.6%	39.3%
Net margin	1.4%	6.3%	11.2%	15.8%	19.6%	10.8%
ROE	1.1%	5.0%	9.2%	14.9%	20.9%	10.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,097
Current ratio	–
Long-term debt (mil)	8,105
Net debt (mil)	6,856
Total equity (mil)	7,660
Net debt / equity	0.90x
Net debt / EBITDA	3.92x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	6,038	+3.6%	2.8x	1,748	−1.2%	9.6x	0.24	−85.8%	239.6x
2027	6,298	+4.3%	2.7x	1,784	+2.1%	9.4x	1.13	+370.8%	50.9x
2028	6,633	+5.3%	2.5x	2,016	+13.0%	8.4x	2.85	+151.9%	20.2x
2029	7,010	+5.7%	2.4x	2,286	+13.4%	7.4x	4.56	+60.2%	12.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	6,298	+0.1%	+0.4%	−0.2%	1.13	+5.9%	−2.2%	+30.4%
2028	6,633	0.0%	+2.7%	–	2.85	+33.0%	+34.3%	−18.7%
2029	7,010	–	–	–	4.56	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,179	1,548	1,658	1,389	1,234	1,630	1,720	1,416	1,272	1,682
Sales mean (mil)	1,167	1,543	1,686	1,354	1,106	1,615	1,728	1,437	1,249	1,677
Surprise	+1.0%	+0.3%	−1.7%	+2.6%	+11.5%	+1.0%	−0.5%	−1.5%	+1.9%	+0.3%
EPS reported	−0.05	0.95	0.91	0.30	−0.46	0.68	0.49	−0.23	−0.70	0.58
EPS mean	0.11	1.25	1.32	0.48	−0.17	0.92	0.68	−0.03	−0.68	0.75
Surprise	−145.5%	−24.0%	−31.1%	−37.5%	−170.6%	−25.8%	−27.6%	−666.7%	−2.9%	−22.7%

Peer comparison Freight & Logistics Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
UHAL U-Haul Holding Company	10.0B	3.92x	1.4%	1.47x	50.9x	20.2x	9.4x	8.4x
UNP Union Pacific Corporation	180.7B	2.19x	29.1%	8.20x	23.1x	21.1x	15.2x	14.1x
CNR Canadian National Railway Co	74.8B	2.56x	27.3%	4.77x	21.2x	19.3x	13.9x	13.1x
CSX CSX Corporation	95.8B	2.70x	20.5%	6.67x	25.3x	22.2x	15.3x	14.0x
UPS United Parcel Service Inc	92.1B	1.60x	6.3%	6.11x	14.9x	13.4x	8.9x	8.2x
FDX FedEx Corp	73.4B	–	4.7%	2.12x	17.2x	15.0x	8.3x	7.6x
Mean		2.60x	14.9%	4.89x	25.4x	18.5x	11.8x	10.9x
Median		2.56x	13.4%	5.44x	22.1x	19.8x	11.7x	10.7x

Technical analysis

1M−5.3%
3M−21.5%
1Y+5.0%
3Y+16.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, U-Haul Holding Company, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	6,038	5,829	5,626	5,865	5,740	4,542
Cost of revenue	3,854	3,692	3,535	3,452	3,122	2,581
Gross profit	2,183	2,136	2,091	2,413	2,618	1,961
Selling, general & administrative expenses	435	428	417	447	459	358
Research & development	–	–	–	–	–	–
Depreciation/amortization	1,183	972	664	487	483	610
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	114	2.5	7.9	6.6	−3.2	3.3
Other operating expenses	19.7	18.3	24.2	27.9	33.9	28.3
Operating income	432	716	978	1,445	1,645	961
Net interest income (expense)	−317	−237	−136	−224	−167	−164
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−1.4	−1.5	−1.5	−1.2	−1.1	−1.0
Net income before taxes	113	478	840	1,219	1,477	797
Provision for taxes	29.5	110	211	295	352	186
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	83.1	367	629	924	1,124	611
Extraordinary items	–	–	–	–	–	–
Net income	83.1	367	629	924	1,124	611
EBIT, normalized	545	718	986	1,451	1,642	964
EBITDA, normalized	1,728	1,690	1,804	2,185	2,339	1,628
Basic EPS, normalized	0.24	1.69	3.22	47.07	57.29	–

Balance sheet in millions of USD, fiscal years

Balance sheet, U-Haul Holding Company, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	1,120	989	1,535	2,061	2,704	1,194
Receivables	160	231	216	189	229	224
Total inventory	178	163	151	151	159	106
Prepaid expenses	–	–	–	–	–	–
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	16,421	15,297	13,478	11,884	10,321	9,300
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	3,139	3,223	3,143	3,346	3,437	3,185
Note receivable	–	–	–	–	–	–
Other long-term assets	1,943	1,959	2,438	2,871	3,541	2,166
Total assets	21,503	20,479	19,059	18,101	17,300	14,652
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	239	263	240	761	678	646
Accrued expenses	652	605	598	58.4	74.2	92.5
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	8,083	7,194	6,271	6,108	6,022	4,669
Minority interest	–	–	–	–	–	–
Other liabilities	5,808	5,787	5,615	5,489	5,392	5,131
Total liabilities	13,891	12,981	11,886	11,597	11,414	9,800
Shareholders' equity
Preferred stock	−152	−152	−152	−152	−152	−152
Common stock	10.7	10.7	10.7	10.7	10.5	10.5
Additional paid-in capital	463	463	463	454	454	454
Retained earnings (accumulated deficit)	7,980	7,932	7,600	7,003	6,052	4,958
Treasury stock	−526	−526	−526	−526	−526	−526
Other equity	−164	−229	−223	−286	46.4	107
Total equity	7,612	7,498	7,172	6,504	5,885	4,852
Total liabilities & shareholders' equity	21,503	20,479	19,059	18,101	17,300	14,652

Cash flow statement in millions of USD, fiscal years

Cash flow statement, U-Haul Holding Company, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	83.1	367	629	923	1,123	611
Depreciation, depletion & amortization	1,183	972	818	734	697	664
Deferred taxes	52.0	41.9	98.4	132	101	68.4
Non-cash items	237	113	−30.6	−109	−94.6	45.1
Changes in working capital	239	−39.4	−61.6	49.5	120	147
Cash from operations	1,795	1,454	1,453	1,730	1,946	1,535
Investing activities
Capital expenditures	−3,154	−3,452	−2,993	−2,724	−2,137	−1,441
Other investing cash flows	891	562	947	303	269	312
Cash from investing	−2,263	−2,891	−2,046	−2,421	−1,867	−1,130
Financing activities
Financing cash flow items	−263	0.7	−62.7	1.8	96.9	298
Cash dividends paid	−35.3	−35.3	−31.8	−33.7	−29.4	−49.0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	893	930	161	91.7	1,366	38.2
Cash from financing	595	895	66.5	59.8	1,433	287
Foreign exchange effects	5.0	−4.3	1.1	−11.6	−2.1	6.4
Net change in cash	131	−546	−526	−644	1,510	700
Free cash flow	−1,360	−1,998	−1,540	−994	−190	93.9

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.