U-Haul Holding CompanyUHAL
NYSE•Industrials•Rental & Leasing Services
U-Haul Holding Company operates as a do-it-yourself moving and storage operator for household and commercial goods in the United States and Canada. It operates through three segments: Moving and Storage, Property and Casualty Insurance, and Life Insurance. It rents trucks, trailers, fixed and portable moving and storage units, specialty rental items, and self-storage spaces primarily to the household movers; and sells moving supplies, towing accessories, and propane. The company also provides uhaul.com, an online marketplace that connects consumers to independent moving help service providers and independent self-storage affiliates; auto transport and toy hauler, and tow dolly options to transport the vehicles; and specialty boxes for dishes, computers, flat screen television, sensitive electronic equipment, tapes, security locks, and packing supplies. In addition, it rents self-moving products and services through a network of managed retail stores and independent U-Haul dealers, as well as rents equipment. Further, the company provides moving and storage protection packages, such as Safemove and Safetow packages, which offer moving and towing customers with a damage waiver, cargo protection, and medical and life insurance coverage; Safestor that protects storage and U-Box customers from loss on their goods in storage; Safehaul, which protect customers' belongings in transit through its U-Box portable moving and storage units; Safemove Plus, which provides rental customers with a layer of primary liability protection; Safetrip, a supplemental roadside protection for the customers equipment; and loss adjusting and claims handling services. Additionally, it offers life and health insurance products primarily to the senior market through the direct writing and reinsuring of life insurance, Medicare supplement, and annuity policies. The company was formerly known as AMERCO and changed its name to U-Haul Holding Company in December 2022. U-Haul Holding Company was founded in 1945 and is based in Reno, Nevada.
U-Haul Holding Company (UHAL) reported trailing twelve months revenue of $12.96B as of March 2026, a 126.7% increase year-over-year. Quarterly revenue reached $6.04B, reflecting continued top-line momentum.
U-Haul Holding Company generated $449.36M in TTM net income, with quarterly EBITDA of $1.62B. The operating margin contracted from 14.8% to 7.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (7.2%) and net margin (1.4%) indicates moderate non-operating costs. Net margin has narrowed from 7.4% a year ago, reflecting increased costs or interest expense.
UHAL trades at a P/E of 20.2x (in line with broad market averages) and a P/S of 0.7x. The price-to-book ratio of 1.2x reflects a moderate premium to book value.
The company reported negative free cash flow of $-1.36B, indicating cash consumption over the period. The balance sheet shows $21.50B in total assets with $8.12B in long-term debt against $7.61B in stockholders equity for a debt-to-equity ratio of 1.1. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 13.0%. The business may lack pricing power or face rising costs.'
ROE is positive at ~9.5% on average, adequate but below the threshold typically associated with wide moats.
Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has grown modestly overall (~121.0%) but trajectory is uneven, suggesting a competitive or cyclical business.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 62.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 11.1% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation