U-Haul Holding Company (UHAL)
NYSE:UHAL
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U-Haul
(NYSE:UHAL)
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Rating:60Neutral
Price Target:
$62.00
▲(18.61% Upside)
Action:Reiterated
Date:05/29/26
The score is driven primarily by mixed financial performance: strong operating cash generation and improved reported leverage are offset by weakened profitability, historically negative free cash flow from heavy capex, and questions raised by FY2026’s zero net income. Technicals are supportive with price above major moving averages, but valuation is a notable drag given the high P/E. Earnings-call commentary is mixed, with capital-spending restraint and a buyback balanced against near-term margin and depreciation headwinds.
Positive Factors
Balance Sheet Strength & Liquidity
Reporting zero debt in FY2026 and ~$1.48B of cash/availability materially improves financial flexibility. This durable strength reduces refinancing risk, supports opportunistic capital allocation (capex, buybacks, development), and helps the company weather cyclical demand swings over the next 2–6 months and beyond.
Negative Factors
Earnings Quality & Profitability Weakness
Zero reported net income while operating profit remains positive flags one‑time items or accounting mismatches that obscure underlying performance. This reduces visibility into sustainable net margins, complicates forecasting of earnings‑linked metrics, and elevates the risk that near‑term profitability metrics revert unfavorably.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength & Liquidity
Reporting zero debt in FY2026 and ~$1.48B of cash/availability materially improves financial flexibility. This durable strength reduces refinancing risk, supports opportunistic capital allocation (capex, buybacks, development), and helps the company weather cyclical demand swings over the next 2–6 months and beyond.
Read all positive factors
U-Haul Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Shows profitability across different business areas, highlighting which segments are driving earnings and where there may be challenges or opportunities for growth.
Shows profitability across different business areas, highlighting which segments are driving earnings and where there may be challenges or opportunities for growth.
Data provided by:
The Fly
The FlyU-Haul (UHAL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$10.90B
Dividend YieldN/A
Average Volume (3M)273.02K
Price to Earnings (P/E)215.4
Beta (1Y)0.79
Revenue Growth3.59%
EPS Growth-85.58%
CountryUS
Employees17,836
SectorIndustrials
Sector Strength72
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)0.24
Shares Outstanding19,607,788
10 Day Avg. Volume322,661
30 Day Avg. Volume273,024
Financial Highlights & Ratios
PEG Ratio-2.32
Price to Book (P/B)1.23
Price to Sales (P/S)1.55
P/FCF Ratio-6.89
Enterprise Value/Market Cap1.71
Enterprise Value/Revenue3.09
Enterprise Value/Gross Profit10.97
Enterprise Value/Ebitda10.53
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.77
Revenue Forecast (FY)$6.19B
U-Haul Business Overview & Revenue Model
Company Description
U-Haul Holding Company specializes in providing self-service moving and storage solutions for both residential and commercial clients across the United States and Canada. Its core business, the Moving and Storage segment, offers a comprehensive ra...
How the Company Makes Money
U-Haul primarily makes money by charging customers for the use of its moving and storage assets and for related products and services. Key revenue streams include: (1) Truck and trailer rentals: Customers pay rental charges to use U-Haul trucks, v...
U-Haul Earnings Call Summary
Earnings Call Date:May 27, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Neutral
The call presented a mix of positive operational progress and strategic moves (adjusted EBITDA growth, storage revenue gains, improved per-foot yields, liquidity and a $350M buyback, consolidation and product expansion) alongside meaningful near-term challenges (widening GAAP losses, sharply higher fleet depreciation, occupancy and delinquency cleanup impacts, and resale/depreciation mismatches on cargo vans). Management outlined concrete actions — pausing truck fleet growth, reducing net equipment purchases, consolidating U-Box warehousing, and allocating capital to buybacks — which position the company to improve margins over time, but near-term earnings and margin headwinds remain significant.Positive Updates
Adjusted EBITDA Growth
Moving and storage adjusted EBITDA increased $6 million in the fourth quarter to $223 million and rose $26 million for the full fiscal year to $1.646 billion, with a reconciliation provided in the supplement.
Negative Updates
Large Quarterly and Annual Earnings Decline
Fourth quarter GAAP loss of $128 million versus a loss of $82 million a year ago; full-year earnings of $83 million down sharply from $367 million the prior year. Fourth quarter loss per nonvoting share was $0.65 versus $0.41 prior-year loss.
Read all updates
Q4-2026 Updates
Positive
Negative
Adjusted EBITDA Growth
Moving and storage adjusted EBITDA increased $6 million in the fourth quarter to $223 million and rose $26 million for the full fiscal year to $1.646 billion, with a reconciliation provided in the supplement.
Read all positive updates
Company Guidance
The company guided to materially lower rental‑fleet growth next year—no planned truck‑fleet growth and only targeted expansion of the U‑Box container fleet and toy‑hauler trailers—with management estimating a roughly $560 million decrease in net new equipment purchases (next fiscal year) after FY26 net equipment purchases of $1.381 billion (FY26 new rental equipment capex $2.08 billion, up $218 million; proceeds from retired equipment $700 million, up $48 million; ~ $780 million of FY26 spend was growth related). They expect fleet depreciation, which rose to $879 million for FY26 (Q4 depreciation $221 million vs. $181 million prior Q), to decelerate (sequential declines the last two quarters and natural decline for box trucks with no growth), and said resale and manufacturer pricing for cargo vans will guide potential extended holding periods. Operationally they reiterated FY26 moving & storage adjusted EBITDA of $1.646 billion (up $26 million; Q4 moving & storage adj. EBITDA $223 million, up $6 million), equipment rental revenue +$12 million in Q4 and +$86 million for the year (~2%), storage revenue +$16 million Q4 (+7%) and +$74 million (≈8%) for 12 months, average revenue per occupied foot +>6%, new‑customer rental rates +≈3% YoY, same‑store occupancy at 86.1% (down 540 bps, ~450 bps from delinquency cleanup), cash/availability of $1.479 billion, $960 million invested in real estate (down $541 million YoY) with 66 storage locations added (~5.3M rentable sq ft), ~5.5M sq ft under development (99 projects) and 6.2M sq ft potential, reserves up ~$93 million, and a Board‑authorized $350 million share repurchase program.U-Haul Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
67
Positive
Cash Flow
55
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.04B | 5.83B | 5.63B | 5.86B | 5.74B |
| Gross Profit | 5.18B | 5.00B | 4.83B | 5.02B | 1.46B |
| EBITDA | 1.76B | 1.75B | 1.94B | 2.19B | 2.34B |
| Net Income | 83.13M | 331.80M | 596.94M | 890.75M | 1.12B |
Balance Sheet | |||||
| Total Assets | 22.01B | 20.48B | 19.06B | 18.10B | 17.30B |
| Cash, Cash Equivalents and Short-Term Investments | 1.12B | 1.70B | 2.06B | 2.75B | 2.74B |
| Total Debt | 8.12B | 7.24B | 6.33B | 6.17B | 7.19B |
| Total Liabilities | 14.40B | 12.98B | 11.89B | 11.60B | 11.35B |
| Stockholders Equity | 7.61B | 7.50B | 7.17B | 6.50B | 5.95B |
Cash Flow | |||||
| Free Cash Flow | -1.36B | -2.00B | -1.54B | -994.29M | -190.30M |
| Operating Cash Flow | 1.79B | 1.45B | 1.45B | 1.73B | 1.95B |
| Investing Cash Flow | -2.26B | -2.89B | -2.05B | -2.42B | -1.87B |
| Financing Cash Flow | 594.63M | 895.11M | 66.53M | 59.80M | 1.43B |
U-Haul Technical Analysis
Positive
52.27
Price Trends
54.31
Positive
51.87
Positive
53.15
Positive
Market Momentum
2.72
Negative
68.60
Neutral
74.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UHAL, the sentiment is Positive. The current price of 52.27 is below the 20-day moving average (MA) of 58.54, below the 50-day MA of 54.31, and below the 200-day MA of 53.15, indicating a bullish trend. The MACD of 2.72 indicates Negative momentum. The RSI at 68.60 is Neutral, neither overbought nor oversold. The STOCH value of 74.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for UHAL.
U-Haul Risk Analysis
U-Haul disclosed 21 risk factors in its most recent earnings report. U-Haul reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
U-Haul Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $10.19B | 21.11 | 16.36% | 1.75% | -0.07% | 4.18% | |
68 Neutral | $2.90B | 18.75 | 12.84% | 1.79% | 3.14% | -34.73% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $10.90B | 215.36 | 0.74% | ― | 3.59% | -85.58% | |
56 Neutral | $5.18B | -1,033.10 | -0.26% | 1.79% | 28.39% | -105.83% | |
52 Neutral | $6.66B | -9.97 | 22.83% | ― | 0.72% | 69.91% | |
45 Neutral | $1.59B | -2.49 | 123.33% | ― | -0.99% | 79.92% |
* Industrials Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.