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UHAL-B

U-Haul Holding Company

UHAL-B

U-Haul Holding Company • NYSE
$48.11 ▲ 0.97% (+0.46)
Market Cap $9.43 B
52w High $68.25
52w Low $44.40
Dividend Yield 0.20%
P/E 48.11
Volume 372.74K
Outstanding Shares 196.08M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $1.72B ▲ $4.962M ▲ $96.727M ▼ 5.624% ▼ $0.49 ▼ $532.224M ▼
Q1-2026 $1.63B ▲ $4.917M ▼ $133.507M ▲ 8.188% ▲ $0.68 ▲ $552.578M ▲
Q4-2025 $1.234B ▼ $1.097B ▲ $-91.114M ▼ -7.387% ▼ $-0.465 ▼ $220.745M ▼
Q3-2025 $1.389B ▼ $1.041B ▼ $58.342M ▼ 4.202% ▼ $0.298 ▼ $417.904M ▼
Q2-2025 $1.658B $1.131B $177.975M 10.734% $0.908 $568.013M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $1.083B ▼ $21.428B ▲ $13.661B ▲ $7.768B ▲
Q1-2026 $1.67B ▼ $20.848B ▲ $13.188B ▲ $7.661B ▲
Q4-2025 $1.7B ▼ $20.479B ▲ $12.981B ▲ $7.498B ▼
Q3-2025 $1.725B ▼ $20.33B ▲ $12.699B ▲ $7.631B ▲
Q2-2025 $2.065B $20.127B $12.607B $7.519B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $96.727M ▼ $551.62M ▼ $-733.285M ▲ $389.709M ▲ $205.632M ▲ $-446.311M ▼
Q1-2026 $133.507M ▲ $598.376M ▲ $-764.041M ▼ $47.444M ▼ $-111.64M ▼ $-318.195M ▲
Q4-2025 $-91.114M ▼ $198.533M ▼ $-452.475M ▲ $223.269M ▲ $-28.57M ▲ $-390.452M ▲
Q3-2025 $58.342M ▼ $271.618M ▼ $-840.579M ▼ $161.258M ▼ $-418.241M ▼ $-664.876M ▼
Q2-2025 $177.975M $530.375M $-794.549M $542.023M $282.478M $-433.464M

Revenue by Products

Product Q1-2026
Life Insurance
Life Insurance
 $50.00M ▲
Moving and Storage Consolidations
Moving and Storage Consolidations
 $1.55Bn ▲
Property and Casualty Insurance
Property and Casualty Insurance
 $30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement U-Haul’s revenue has grown meaningfully from a few years ago and has mostly held at a higher plateau, but profits have been drifting down. The business is bringing in more money than earlier in the decade, yet the company is earning less on each dollar of sales than it did at its peak. This suggests rising operating costs, more competitive pricing, or heavier spending on growth and maintenance. Profitability is still positive, but the trend is one of margin pressure and weaker net income compared with the strong years right after the pandemic. Overall, it looks like a mature, high-revenue business working through a period of lower profitability.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive business that has been steadily growing its asset base. Trucks, equipment, and storage facilities have increased over time, and shareholders’ equity has also moved up, which indicates that the company has been retaining some earnings and reinvesting in the business. Debt has risen as well, so the company is leaning more on borrowing to fund its expansion, while cash levels have come down from earlier highs. The picture is of a larger, more built‑out company with a solid equity base, but with higher leverage and less cash cushion than a few years ago, which modestly raises financial risk but is typical for an asset‑heavy rental and storage model.

Cash Flow

Cash Flow U-Haul consistently generates solid cash from its day‑to‑day operations, which is a clear strength. However, the company has been pouring a lot of money into new trucks, equipment, and storage properties. This heavy investment has often pushed free cash flow toward thin or negative territory in several recent years, meaning much of the operating cash is being plowed back into growth and upkeep rather than left over as surplus. The latest year’s free cash flow data looks inconsistent with the capex figures, so it should be treated with caution. Big picture: dependable operating cash flow, but aggressive reinvestment keeps near‑term cash tight while aiming to support long‑term capacity and growth.

Competitive Edge

Competitive Edge U-Haul holds a very strong competitive position in do‑it‑yourself moving and self‑storage. Its nationwide network is far larger and more convenient than most rivals, which is hard and costly for others to replicate. The brand is widely recognized, and its trucks and trailers are essentially rolling advertisements. By combining moving rentals, storage units, moving supplies, and related services, U-Haul captures customers at multiple points in the moving process and makes itself a one‑stop shop. This scale, visibility, and breadth of services create a meaningful moat, though it still faces ongoing competition from regional rental companies, storage operators, and newer digital platforms.

Innovation and R&D

Innovation and R&D While U-Haul is not a classic “R&D lab” type company, it has been active in practical, customer‑facing innovation. Key efforts include its smartphone‑based 24/7 truck sharing platform, real‑time fleet and inventory management tools, and an integrated digital ecosystem for reservations, storage, and labor help. Programs like U-Box portable containers and the Load Share initiative show it is experimenting with new formats and more efficient logistics. Partnerships, such as with Moved, extend its reach into apartment and multifamily move‑in processes. Overall, the company appears to focus its innovation dollars on software, process improvements, and new service models rather than on traditional research, aiming to make the moving and storage experience more seamless and asset‑efficient.

Summary

U-Haul Holding Company today looks like a mature, scaled leader investing heavily to reinforce its position. Revenue is solid at a higher level than in the past, but profitability has softened, likely reflecting higher costs and expansion efforts. The balance sheet shows a growing asset base funded by a mix of retained earnings and more debt, which is typical for this type of business but does add some leverage risk. Cash generation from operations is reliable, yet significant capital spending soaks up much of that cash as the company builds out trucks and storage facilities. Competitively, U-Haul benefits from an unmatched network, strong brand, and integrated moving‑plus‑storage offering, which together create a substantial moat. Its innovation focus is practical and digital, centered on technology, customer convenience, and logistics efficiency rather than formal R&D. The core story is of a dominant operator trading near‑term margin and cash flow comfort for ongoing investment in long‑term capacity and competitive strength.