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U-Haul (UHAL) Financials

U-Haul logo
$62.12 +0.89 (+1.45%)
Closing price 06/18/2025 03:59 PM Eastern
Extended Trading
$62.16 +0.04 (+0.07%)
As of 06/18/2025 06:15 PM Eastern
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Annual Income Statements for U-Haul

Annual Income Statements for U-Haul

This table shows U-Haul's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 3/31/2015 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 357 489 398 765 371 442 611 1,124 924 629
Consolidated Net Income / (Loss)		 357 489 398 791 371 442 611 1,124 924 629
Net Income / (Loss) Continuing Operations		 357 489 398 765 371 442 611 1,124 924 629
Total Pre-Tax Income 		561 769 628 638 478 378 797 1,477 1,219 840
Total Operating Income		 663 867 743 765 621 540 961 1,646 1,446 978
Total Gross Profit		 2,928 3,130 3,269 3,441 3,607 3,815 4,328 5,480 5,602 5,384
Total Revenue		 3,075 3,275 3,422 3,601 3,769 3,979 4,542 5,740 5,865 5,626
Operating Revenue		 2,914 3,123 3,250 3,417 3,549 3,739 4,250 5,308 5,386 5,160
Other Revenue		 160 152 172 184 219 240 292 431 479 466
Total Cost of Revenue		 146 145 152 160 162 164 214 260 263 242
Operating Cost of Revenue		 146 145 152 160 162 164 214 260 263 242
Total Operating Expenses		 2,265 2,264 2,526 2,675 2,986 3,275 3,367 3,842 4,156 4,406
Selling, General & Admin Expense		 1,729 1,733 1,834 2,084 2,270 2,405 2,517 3,106 3,441 3,511
Depreciation Expense		 278 291 449 543 554 637 610 483 487 664
Amortization Expense		 20 23 26 25 29 31 28 34 28 24
Other Operating Expenses / (Income)		 239 217 220 219 133 202 208 220 201 208
Total Other Income / (Expense), net		 -102 -98 -115 0.00 -143 -162 -164 -170 -226 -138
Interest Expense		 102 98 114 0.00 142 161 164 168 225 256
Interest & Investment Income		 - - - - - - - 0.00 0.00 120
Other Income / (Expense), net		 - - -0.90 0.00 -1.01 -1.05 -0.99 -1.12 -1.22 -1.46
Income Tax Expense		 205 280 230 0.00 107 -64 186 352 295 211
Basic Earnings per Share		 - - $20.34 $40.36 $18.93 $22.55 $0.00 $12.66 $10.16 $3.04
Weighted Average Basic Shares Outstanding		 19.59M 19.60M 19.59M 19.59M 19.59M 19.60M 392.16M 392.16M 392.16M 392.16M
Diluted Earnings per Share		 - - $20.34 $40.36 $18.93 $22.55 $0.00 $12.66 $10.16 $3.04
Weighted Average Diluted Shares Outstanding		 19.59M 19.60M 19.59M 19.59M 19.59M 19.60M 19.61M 196.08M 196.08M 196.08M
Weighted Average Basic & Diluted Shares Outstanding		 19.59M 19.60M 19.59M 19.59M 19.59M 19.60M 19.61M 19.61M 196.08M 19.61M

Quarterly Income Statements for U-Haul

This table shows U-Haul's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2023 3/31/2023 6/30/2023 9/30/2023 12/31/2024 3/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 281 88 338 350 99 37 257 274 67 -0.86
Consolidated Net Income / (Loss)		 281 -1,576 338 350 99 37 257 274 67 -0.86
Net Income / (Loss) Continuing Operations		 281 -1,576 338 350 99 37 257 274 67 -0.86
Total Pre-Tax Income 		371 112 445 461 130 52 339 358 89 14
Total Operating Income		 417 156 496 520 198 110 400 422 151 -42
Total Gross Profit		 1,347 -532 1,518 1,630 1,340 1,133 1,540 1,583 1,389 1,043
Total Revenue		 1,404 -466 1,598 1,703 1,340 1,189 1,540 1,650 1,389 1,096
Operating Revenue		 1,304 -548 1,462 1,535 1,237 1,111 1,416 1,492 1,277 1,014
Other Revenue		 100 82 136 167 102 78 124 158 112 82
Total Cost of Revenue		 57 66 80 73 0.00 56 0.00 67 0.00 53
Operating Cost of Revenue		 57 66 80 73 - 56 - 67 - 53
Total Operating Expenses		 931 984 1,023 1,110 1,142 1,022 1,141 1,161 1,238 1,085
Selling, General & Admin Expense		 763 791 852 937 910 823 941 947 930 835
Depreciation Expense		 104 122 114 117 174 142 138 154 246 198
Amortization Expense		 7.95 10 7.67 6.97 4.16 6.30 8.05 6.83 4.49 5.21
Other Operating Expenses / (Income)		 55 57 47 47 54 56 54 51 57 49
Total Other Income / (Expense), net		 -45 -45 -50 -58 -68 -58 -61 -64 -61 55
Interest Expense		 45 45 50 58 67 58 61 64 77 64
Other Income / (Expense), net		 -0.28 -0.28 -0.30 -0.30 -0.37 -0.30 -0.37 -0.36 -0.37 -0.36
Income Tax Expense		 90 24 107 112 31 14 82 85 22 15
Basic Earnings per Share		 $0.00 ($25.84) $0.00 $0.00 $0.97 $8.16 $2.58 $0.00 $0.65 $2.07
Weighted Average Basic Shares Outstanding		 392.16M 392.16M 392.16M 392.16M 392.16M 392.16M 392.16M 392.16M 392.16M 392.16M
Diluted Earnings per Share		 $0.00 ($25.84) $0.00 $0.00 $0.97 $8.16 $2.58 $0.00 $0.65 $2.07
Weighted Average Diluted Shares Outstanding		 19.61M 196.08M 19.61M - 196.08M 196.08M 196.08M 196.08M 196.08M 196.08M
Weighted Average Basic & Diluted Shares Outstanding		 19.61M 19.61M 19.61M - 196.08M 196.08M 196.08M 196.08M 196.08M 19.61M

Annual Cash Flow Statements for U-Haul

This table details how cash moves in and out of U-Haul's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2022 2023 2024
Period end date 3/31/2015 3/31/2016 3/31/2017 3/31/2018 3/31/2022 3/31/2023 3/31/2024
Net Change in Cash & Equivalents		 -53 159 97 62 1,102 -748 -464
Net Cash From Operating Activities		 759 1,045 1,058 936 1,946 1,730 1,453
Net Cash From Continuing Operating Activities		 723 1,045 1,058 936 1,536 1,632 1,521
Net Income / (Loss) Continuing Operations		 357 489 398 791 1,124 924 629
Consolidated Net Income / (Loss)		 357 489 398 791 1,124 924 629
Depreciation Expense		 353 389 482 555 697 734 818
Amortization Expense		 23 27 30 28 25 27 24
Non-Cash Adjustments To Reconcile Net Income		 -61 -84 -15 -176 -139 -176 -83
Changes in Operating Assets and Liabilities, net		 88 225 163 -261 -171 122 134
Net Cash From Investing Activities		 -755 -1,260 -1,183 -897 1,867 2,421 2,046
Net Cash From Continuing Investing Activities		 -755 -1,260 -1,183 -897 -1,867 -2,440 -2,052
Purchase of Property, Plant & Equipment		 -1,042 -1,509 -1,420 -1,364 -2,137 -2,724 -2,993
Purchase of Investments		 -569 -1,020 -1,179 -542 -887 -842 -520
Sale of Property, Plant & Equipment		 454 588 603 740 623 701 739
Sale and/or Maturity of Investments		 401 686 850 237 543 434 724
Other Investing Activities, net		 - -4.36 -38 31 -9.33 -9.30 -2.98
Net Cash From Financing Activities		 -46 389 224 17 1,433 60 67
Net Cash From Continuing Financing Activities		 -46 389 224 17 1,433 60 67
Repayment of Debt		 -781 -720 -735 -840 -688 -1,142 -1,343
Payment of Dividends		 -20 -78 -59 -29 -29 -20 0.00
Issuance of Debt		 658 838 743 498 1,969 1,018 1,186
Other Financing Activities, net		 97 349 274 388 181 203 223

Quarterly Cash Flow Statements for U-Haul

This table details how cash moves in and out of U-Haul's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q4 2023 Q1 2024 Q4 2024
Period end date 12/31/2021 3/31/2022 6/30/2022 3/31/2023 6/30/2023 3/31/2024
Net Change in Cash & Equivalents		 -103 -31 394 -479 317 -262
Net Cash From Operating Activities		 270 157 651 214 466 213
Net Cash From Continuing Operating Activities		 258 -231 651 205 454 225
Net Income / (Loss) Continuing Operations		 281 88 334 37 257 -0.86
Consolidated Net Income / (Loss)		 281 88 334 37 257 -0.86
Depreciation Expense		 175 178 178 190 193 214
Amortization Expense		 -14 12 14 6.23 5.85 5.36
Non-Cash Adjustments To Reconcile Net Income		 -41 -37 -47 -18 -24 -7.68
Changes in Operating Assets and Liabilities, net		 -153 -472 172 -10 22 14
Net Cash From Investing Activities		 -435 3,314 -478 4,293 -289 3,756
Net Cash From Continuing Investing Activities		 -435 -420 -478 -568 -288 -340
Purchase of Property, Plant & Equipment		 -613 -484 -646 -647 -774 -592
Purchase of Investments		 -68 -267 -102 -140 -66 -116
Sale of Property, Plant & Equipment		 178 111 192 168 193 141
Sale and/or Maturity of Investments		 60 234 74 61 358 228
Other Investing Activities, net		 8.04 -15 4.79 -9.14 0.36 -1.94
Net Cash From Financing Activities		 62 637 225 -115 137 -145
Net Cash From Continuing Financing Activities		 62 637 221 -115 137 -145
Repayment of Debt		 -216 -40 -244 -205 -353 -412
Issuance of Debt		 215 767 393 42 445 149
Other Financing Activities, net		 72 -90 82 47 51 118

Annual Balance Sheets for U-Haul

This table presents U-Haul's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 3/31/2015 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024
Total Assets		 6,872 8,109 9,406 10,747 11,892 13,438 14,652 17,300 18,101 19,059
Total Current Assets		 2,623 3,006 3,342 3,897 3,927 5,560 6,193 7,551 6,107 5,515
Cash & Equivalents		 442 601 698 759 674 494 1,194 2,704 2,061 1,535
Short-Term Investments		 1,574 1,803 2,032 2,319 2,536 2,853 3,185 3,437 3,285 3,076
Accounts Receivable		 190 175 178 194 225 187 224 229 189 274
Inventories, net		 69 80 82 90 104 101 106 159 151 151
Prepaid Expenses		 126 134 125 166 174 563 469 237 242 246
Other Current Assets		 222 214 228 370 215 1,362 1,015 785 180 233
Plant, Property, & Equipment, net		 4,108 5,018 5,977 6,817 7,934 7,843 8,331 9,626 11,350 13,135
Plant, Property & Equipment, gross		 2,551 3,175 3,777 4,601 11,022 10,556 11,414 13,358 15,660 18,186
Accumulated Depreciation		 1,940 2,134 2,384 2,721 3,088 2,713 3,083 3,733 4,310 5,051
Total Noncurrent Assets		 142 86 86 33 31 35 128 122 643 409
Other Noncurrent Operating Assets		 142 86 86 33 31 35 128 122 169 409
Total Liabilities & Shareholders' Equity		 6,872 8,109 9,406 10,747 11,892 13,438 14,652 17,300 18,101 19,059
Total Liabilities		 4,988 5,858 6,786 7,339 8,199 9,217 9,800 11,414 11,597 11,886
Total Current Liabilities		 514 525 479 545 592 586 688 727 813 834
Accounts Payable		 496 503 451 511 557 554 646 678 761 783
Current Deferred Revenue		 18 23 29 34 35 32 43 49 52 51
Total Noncurrent Liabilities		 4,473 5,333 6,307 6,793 7,607 8,631 9,112 10,687 10,783 11,052
Long-Term Debt		 2,191 2,647 3,263 3,513 4,163 4,621 4,669 6,022 6,108 6,271
Noncurrent Deferred & Payable Income Tax Liabilities		 527 654 835 658 751 1,094 1,178 1,265 1,329 1,447
Other Noncurrent Operating Liabilities		 1,756 2,032 2,209 2,622 2,693 2,916 3,264 3,400 3,346 3,334
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,884 2,251 2,620 2,721 3,692 4,221 4,852 5,885 7,075 7,619
Total Preferred & Common Equity		 1,884 2,251 2,620 3,409 3,692 4,221 4,852 5,885 6,504 7,172
Preferred Stock		 -152 -152 -152 0.00 0.00 0.00 - - 0.00 0.00
Total Common Equity		 2,036 2,403 2,761 2,721 3,692 4,221 4,852 5,885 7,075 7,619
Common Stock		 460 462 452 453 464 464 464 464 464 473
Retained Earnings		 2,143 2,534 2,893 3,636 3,977 4,399 4,958 6,052 7,003 7,600
Treasury Stock		 -526 -526 -526 -1,355 -678 -678 -678 -678 -678 -678
Accumulated Other Comprehensive Income / (Loss)		 -34 -61 -51 -4.62 -67 35 107 46 286 223

Quarterly Balance Sheets for U-Haul

This table presents U-Haul's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q3 2024
Period end date 12/31/2021 6/30/2022 12/31/2024
Total Assets		 16,588 17,832 20,330
Total Current Assets		 7,249 7,693 5,170
Cash & Equivalents		 2,327 3,098 1,017
Short-Term Investments		 3,398 3,227 3,243
Accounts Receivable		 230 220 239
Inventories, net		 167 165 155
Prepaid Expenses		 211 232 266
Other Current Assets		 915 751 249
Plant, Property, & Equipment, net		 9,283 10,021 14,875
Plant, Property & Equipment, gross		 12,827 13,912 20,544
Accumulated Depreciation		 3,545 3,891 5,669
Total Noncurrent Assets		 56 118 285
Other Noncurrent Operating Assets		 56 118 285
Total Liabilities & Shareholders' Equity		 16,588 17,832 20,330
Total Liabilities		 10,773 11,758 12,699
Total Current Liabilities		 635 786 847
Accounts Payable		 635 723 799
Current Deferred Revenue		 - 64 47
Total Noncurrent Liabilities		 10,522 10,971 11,852
Long-Term Debt		 5,398 6,233 6,897
Noncurrent Deferred & Payable Income Tax Liabilities		 1,301 1,292 1,508
Other Noncurrent Operating Liabilities		 3,395 3,447 3,447
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 5,815 6,074 8,006
Total Preferred & Common Equity		 5,815 6,074 7,631
Preferred Stock		 0.00 - 0.00
Total Common Equity		 5,815 6,074 8,006
Common Stock		 464 464 473
Retained Earnings		 5,965 6,376 8,023
Treasury Stock		 -678 -678 -678
Accumulated Other Comprehensive Income / (Loss)		 63 -89 187

Annual Metrics And Ratios for U-Haul

This table displays calculated financial ratios and metrics derived from U-Haul's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 3/31/2015 3/31/2016 3/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024
Total Assets		 - - - - - - - - - 19,059
Total Liabilities & Shareholders' Equity		 - - - - - - - - - 19,059
Growth Metrics		 - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - -
Debt Service Ratios		 - - - - - - - - - -
Payout Ratios		 - - - - - - - - - -

Quarterly Metrics And Ratios for U-Haul

This table displays calculated financial ratios and metrics derived from U-Haul's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 20.03% -143.96% 8.49% -48.84% -2.07% 355.10% -3.60% -3.11% -2.60% -7.80%
EBITDA Growth		 31.67% 17.49% 1.67% -16.11% -23.71% -11.66% -20.70% -9.47% -14.87% -42.16%
EBIT Growth		 46.79% 19.14% 0.26% -10.16% -23.23% -29.68% -19.37% -18.79% -38.31% -138.41%
NOPAT Growth		 46.82% 14.14% 0.34% -10.45% -22.68% -35.57% -19.48% -18.15% -38.13% -96.67%
Net Income Growth		 53.82% -2,236.66% -1.98% -83.13% -29.35% 102.37% -24.09% -21.82% -50.10% -102.31%
EPS Growth		 -100.00% 0.00% -100.00% -100.00% 0.00% 131.58% 0.00% 0.00% -51.50% -74.63%
Operating Cash Flow Growth		 -27.84% 0.00% -17.99% 0.00% 0.00% 36.19% 0.00% 0.00% 0.00% -0.57%
Free Cash Flow Firm Growth		 -142.62% -208.84% -176.38% 857.26% 3,108.47% -183.17% 1,112.38% -94.07% -247.12% -9.98%
Invested Capital Growth		 10.16% 12.16% 20.01% 0.00% 0.00% 26.02% 0.00% 0.00% 0.00% 21.54%
Revenue Q/Q Growth		 -57.81% -133.18% 442.92% 6.57% -19.23% -13.57% 29.58% 7.11% -18.81% -18.18%
EBITDA Q/Q Growth		 -24.77% -40.07% 139.54% -6.33% -31.58% -30.60% 112.57% 6.93% -35.67% -52.85%
EBIT Q/Q Growth		 -28.00% -62.50% 219.31% 4.94% -38.48% -65.65% 268.55% 5.68% -53.26% -121.38%
NOPAT Q/Q Growth		 -28.26% -60.98% 208.40% 4.72% -38.06% -67.49% 291.37% 6.46% -53.17% -98.25%
Net Income Q/Q Growth		 -86.43% -660.08% 121.45% 3.41% -43.16% -81.19% 614.73% 6.49% -63.72% -100.87%
EPS Q/Q Growth		 -100.00% 0.00% 100.00% 0.00% 0.00% 308.00% 100.00% 0.00% 0.00% 113.40%
Operating Cash Flow Q/Q Growth		 -62.75% -41.83% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 -133.55% -163.42% -23.39% 975.89% 5.43% -124.79% 541.55% -94.87% -2,713.88% 81.47%
Invested Capital Q/Q Growth		 8.83% 5.07% 3.72% -100.00% 0.00% 0.00% -100.00% 0.00% 0.00% 2.90%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 95.94% 0.00% 95.01% 95.74% 96.03% 95.28% 95.41% 95.96% 96.15% 95.19%
EBITDA Margin		 41.12% 0.00% 43.02% 37.81% 32.03% 25.72% 35.39% 35.33% 28.00% 16.13%
Operating Margin		 29.67% 0.00% 31.01% 30.53% 23.27% 9.26% 25.95% 25.60% 14.75% -3.82%
EBIT Margin		 29.65% 0.00% 30.99% 30.52% 23.25% 9.24% 25.92% 25.58% 14.72% -3.85%
Profit (Net Income) Margin		 20.04% 0.00% 21.18% 20.55% 14.46% 3.15% 16.67% 16.58% 7.41% -0.08%
Tax Burden Percent		 75.78% -1,413.83% 75.96% 75.81% 76.30% 72.09% 75.83% 76.39% 76.46% -6.32%
Interest Burden Percent		 89.19% 71.40% 89.94% 88.81% 81.52% 47.25% 84.82% 84.85% 65.80% -32.39%
Effective Tax Rate		 24.22% 21.24% 24.04% 24.19% 23.70% 27.91% 24.17% 23.61% 23.54% 106.32%
Return on Invested Capital (ROIC)		 31.21% 0.00% 25.20% 0.00% 0.00% 6.01% 0.00% 0.00% 15.03% 0.17%
ROIC Less NNEP Spread (ROIC-NNEP)		 97.90% 0.00% 59.73% 0.00% 0.00% -109.15% 0.00% 0.00% 3.23% -0.33%
Return on Net Nonoperating Assets (RNNOA)		 -0.95% 0.00% -1.18% 0.00% 0.00% -0.61% 0.00% 0.00% 0.37% -0.03%
Return on Equity (ROE)		 30.26% 0.00% 24.02% 0.00% 0.00% 5.40% 0.00% 0.00% 15.39% 0.14%
Cash Return on Invested Capital (CROIC)		 13.96% 11.52% 4.68% 0.00% 0.00% -6.21% 0.00% 0.00% -180.05% -10.36%
Operating Return on Assets (OROA)		 13.88% 0.00% 11.03% 0.00% 0.00% 3.06% 0.00% 0.00% 4.43% -1.17%
Return on Assets (ROA)		 9.38% 0.00% 7.54% 0.00% 0.00% 1.04% 0.00% 0.00% 2.23% -0.02%
Return on Common Equity (ROCE)		 30.26% 0.00% 24.02% 0.00% 0.00% 5.40% 0.00% 0.00% 15.39% 0.14%
Return on Equity Simple (ROE_SIMPLE)		 47.71% 0.00% 18.38% 0.00% 0.00% 0.00% 0.00% 0.00% 9.39% 0.00%
Net Operating Profit after Tax (NOPAT)		 316 123 376 394 244 79 303 323 151 2.64
NOPAT Margin		 22.49% 0.00% 23.56% 23.15% 17.75% 6.68% 19.68% 19.56% 11.28% 0.24%
Net Nonoperating Expense Percent (NNEP)		 -66.69% 1,991.55% -34.53% 0.00% 0.00% 115.16% 0.00% 0.00% 11.80% 0.50%
Cost of Revenue to Revenue		 4.06% 0.00% 4.99% 4.26% 3.97% 4.72% 4.59% 4.04% 3.85% 4.81%
SG&A Expenses to Revenue		 54.35% 0.00% 53.30% 55.02% 60.31% 69.22% 56.49% 57.41% 64.08% 76.17%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 66.26% 0.00% 64.00% 65.20% 72.76% 86.01% 69.47% 70.36% 81.40% 99.00%
Earnings before Interest and Taxes (EBIT)		 416 156 495 520 320 110 399 422 197 -42
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 577 346 687 644 441 306 545 583 375 177
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.44 19.85 1.54 0.00 0.00 1.65 0.00 0.00 1.83 1.74
Price to Tangible Book Value (P/TBV)		 2.44 19.85 1.54 0.00 0.00 1.65 0.00 0.00 1.83 1.74
Price to Revenue (P/Rev)		 1.96 20.35 1.60 2.36 2.80 1.99 1.87 1.86 2.46 2.35
Price to Earnings (P/E)		 12.80 103.91 8.39 9.45 12.12 12.65 12.89 13.98 21.15 21.06
Dividend Yield		 0.48% 0.59% 0.42% 0.29% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 7.81% 0.96% 11.92% 10.58% 8.25% 7.90% 7.76% 7.15% 4.73% 4.75%
Enterprise Value to Invested Capital (EV/IC)		 2.60 20.24 1.55 0.00 0.00 1.71 0.00 0.00 1.81 1.69
Enterprise Value to Revenue (EV/Rev)		 1.96 20.33 1.58 0.00 0.00 2.12 0.00 0.00 2.72 2.65
Enterprise Value to EBITDA (EV/EBITDA)		 6.58 49.30 4.31 0.00 0.00 5.65 0.00 0.00 8.85 8.20
Enterprise Value to EBIT (EV/EBIT)		 8.81 70.95 5.64 0.00 0.00 8.63 0.00 0.00 13.82 15.26
Enterprise Value to NOPAT (EV/NOPAT)		 11.54 93.11 7.40 0.00 0.00 11.37 0.00 0.00 18.19 20.37
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 59.97 0.00 0.00 0.00 7.20 0.00 0.00 0.00 10.26
Enterprise Value to Free Cash Flow (EV/FCFF)		 19.53 185.76 36.16 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.99 1.02 1.03 0.00 0.00 0.86 0.00 0.00 0.84 0.82
Long-Term Debt to Equity		 0.99 1.02 1.03 0.00 0.00 0.86 0.00 0.00 0.84 0.82
Financial Leverage		 -0.01 0.02 -0.02 0.00 0.00 0.01 0.00 0.00 0.11 0.10
Leverage Ratio		 2.94 2.98 2.95 0.00 0.00 2.73 0.00 0.00 2.47 2.53
Compound Leverage Factor		 2.62 2.12 2.65 0.00 0.00 1.29 0.00 0.00 1.62 -0.82
Debt to Total Capital		 49.86% 50.58% 50.64% 0.00% 0.00% 46.33% 0.00% 0.00% 45.52% 45.15%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 49.86% 50.58% 50.64% 0.00% 0.00% 46.33% 0.00% 0.00% 45.52% 45.15%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 50.14% 49.42% 49.36% 0.00% 0.00% 53.67% 0.00% 0.00% 54.48% 54.85%
Debt to EBITDA		 2.67 2.54 2.90 0.00 0.00 2.77 0.00 0.00 3.66 3.45
Net Debt to EBITDA		 0.03 -0.05 -0.04 0.00 0.00 0.35 0.00 0.00 0.85 0.91
Long-Term Debt to EBITDA		 2.67 2.54 2.90 0.00 0.00 2.77 0.00 0.00 3.66 3.45
Debt to NOPAT		 4.67 4.80 4.97 0.00 0.00 5.57 0.00 0.00 7.52 8.57
Net Debt to NOPAT		 0.05 -0.09 -0.07 0.00 0.00 0.70 0.00 0.00 1.75 2.27
Long-Term Debt to NOPAT		 4.67 4.80 4.97 0.00 0.00 5.57 0.00 0.00 7.52 8.57
Altman Z-Score		 2.29 7.47 1.86 0.00 0.00 1.84 0.00 0.00 1.92 1.81
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 11.42 10.39 9.78 0.00 0.00 7.51 0.00 0.00 7.43 6.54
Quick Ratio		 9.38 8.76 8.32 0.00 0.00 6.80 0.00 0.00 6.69 5.79
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -191 -502 -621 5,437 5,732 -1,421 6,284 323 -8,433 -1,563
Operating Cash Flow to CapEx		 62.08% 42.21% 143.28% 0.00% 0.00% 44.59% 0.00% 0.00% 0.00% 47.17%
Free Cash Flow to Firm to Interest Expense		 -4.23 -11.24 -12.46 93.49 97.01 -24.54 103.70 5.05 -125.03 -24.35
Operating Cash Flow to Interest Expense		 6.00 3.52 13.08 0.00 0.00 3.69 0.00 0.00 0.00 3.31
Operating Cash Flow Less CapEx to Interest Expense		 -3.67 -4.82 3.95 0.00 0.00 -4.59 0.00 0.00 0.00 -3.71
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.47 0.36 0.36 0.00 0.00 0.33 0.00 0.00 0.30 0.30
Accounts Receivable Turnover		 31.94 25.30 25.91 0.00 0.00 28.00 0.00 0.00 23.37 27.75
Inventory Turnover		 1.83 1.96 1.91 0.00 0.00 1.70 0.00 0.00 1.58 1.60
Fixed Asset Turnover		 0.84 0.64 0.63 0.00 0.00 0.56 0.00 0.00 0.45 0.46
Accounts Payable Turnover		 0.40 0.39 0.38 0.00 0.00 0.37 0.00 0.00 0.34 0.31
Days Sales Outstanding (DSO)		 11.43 14.43 14.09 0.00 0.00 13.03 0.00 0.00 15.62 13.15
Days Inventory Outstanding (DIO)		 199.26 185.93 191.45 0.00 0.00 215.34 0.00 0.00 231.21 228.47
Days Payable Outstanding (DPO)		 915.15 930.38 961.77 0.00 0.00 998.32 0.00 0.00 1,086.82 1,166.58
Cash Conversion Cycle (CCC)		 -704.47 -730.02 -756.23 0.00 0.00 -769.95 0.00 0.00 -839.99 -924.96
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 5,488 5,766 5,981 0.00 0.00 7,267 0.00 0.00 8,584 8,833
Invested Capital Turnover		 1.39 1.05 1.07 0.00 0.00 0.90 0.00 0.00 1.33 0.70
Increase / (Decrease) in Invested Capital		 506 625 997 -5,043 -5,488 1,501 -5,981 0.00 8,584 1,566
Enterprise Value (EV)		 14,270 116,711 9,275 0.00 0.00 12,459 0.00 0.00 15,575 14,903
Market Capitalization		 14,213 116,830 9,368 9,985 11,802 11,696 10,847 10,700 14,078 13,243
Book Value per Share		 $296.59 $300.15 $309.77 $0.00 $0.00 $36.08 $0.00 $0.00 $39.30 $38.86
Tangible Book Value per Share		 $296.59 $300.15 $309.77 $0.00 $0.00 $36.08 $0.00 $0.00 $39.30 $38.86
Total Capital		 11,598 11,908 12,306 0.00 0.00 13,183 0.00 0.00 14,142 13,890
Total Debt		 5,782 6,022 6,233 0.00 0.00 6,108 0.00 0.00 6,437 6,271
Total Long-Term Debt		 5,782 6,022 6,233 0.00 0.00 6,108 0.00 0.00 6,437 6,271
Net Debt		 57 -119 -93 0.00 0.00 763 0.00 0.00 1,496 1,660
Capital Expenditures (CapEx)		 435 372 455 0.00 0.00 480 0.00 0.00 0.00 451
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 889 683 581 0.00 0.00 -51 0.00 0.00 39 12
Debt-free Net Working Capital (DFNWC)		 6,614 6,825 6,906 0.00 0.00 5,294 0.00 0.00 4,980 4,623
Net Working Capital (NWC)		 6,614 6,825 6,906 0.00 0.00 5,294 0.00 0.00 4,980 4,623
Net Nonoperating Expense (NNE)		 34 1,700 38 44 45 42 46 49 52 3.50
Net Nonoperating Obligations (NNO)		 -327 -119 -93 0.00 0.00 192 0.00 0.00 879 1,214
Total Depreciation and Amortization (D&A)		 161 190 192 124 121 196 146 161 178 219
Debt-free, Cash-free Net Working Capital to Revenue		 12.23% 11.90% 9.90% 0.00% 0.00% -0.87% 0.00% 0.00% 0.68% 0.21%
Debt-free Net Working Capital to Revenue		 91.03% 118.90% 117.76% 0.00% 0.00% 90.27% 0.00% 0.00% 87.09% 82.17%
Net Working Capital to Revenue		 91.03% 118.90% 117.76% 0.00% 0.00% 90.27% 0.00% 0.00% 87.09% 82.17%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.44 ($2.58) $1.70 $1.80 $0.00 $8.16 $0.00 $0.00 $0.97 $2.07
Adjusted Weighted Average Basic Shares Outstanding		 196.08M 3.92B 196.08M 196.08M 392.16M 392.16M 392.16M 392.16M 392.16M 392.16M
Adjusted Diluted Earnings per Share		 $1.44 ($2.58) $1.70 $1.80 $0.00 $8.16 $0.00 $0.00 $0.97 $2.07
Adjusted Weighted Average Diluted Shares Outstanding		 196.08M 1.96B 196.08M 196.08M 196.08M 196.08M 196.08M 196.08M 196.08M 196.08M
Adjusted Basic & Diluted Earnings per Share		 $1.44 $0.00 $1.70 $1.80 $0.00 $0.00 $0.00 $0.00 $0.97 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 196.08M 196.08M 196.08M 196.08M 196.08M 196.08M 196.08M 196.08M 196.08M 19.61M
Normalized Net Operating Profit after Tax (NOPAT)		 317 123 378 396 244 79 304 324 151 -29
Normalized NOPAT Margin		 22.54% 0.00% 23.67% 23.23% 17.75% 6.68% 19.73% 19.63% 11.28% -2.67%
Pre Tax Income Margin		 26.45% 0.00% 27.88% 27.10% 18.95% 4.37% 21.99% 21.70% 9.69% 1.25%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 9.25 3.50 9.94 8.94 5.41 1.90 6.59 6.60 2.92 -0.66
NOPAT to Interest Expense		 7.02 2.76 7.56 6.78 4.13 1.37 5.00 5.05 2.24 0.04
EBIT Less CapEx to Interest Expense		 -0.41 -4.84 0.82 0.00 0.00 -6.39 0.00 0.00 0.00 -7.68
NOPAT Less CapEx to Interest Expense		 -2.65 -5.57 -1.57 0.00 0.00 -6.91 0.00 0.00 0.00 -6.98
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 2.62% 0.00% 0.00% 0.00% 2.12% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 2.62% 0.00% 0.00% 0.00% 2.12% 0.00% 0.00% 0.00% 0.00%

Key Financial Trends

U-Haul’s Q4 2024 results show resilient cash generation and strong liquidity, but the business faces ongoing revenue headwinds and margin pressure.

  • Strong operating cash flow: Q4 2024 net cash from operations of $224.8 million, up from $204.9 million a year ago.
  • Robust liquidity with a current ratio of 6.54x and quick ratio of 5.79x in Q4 2024.
  • Healthy EBITDA margin of 16.1% in Q4 2024, underscoring solid underlying cash profitability.
  • Trading at an EV/EBITDA multiple of 8.20x, near historical averages.
  • Book value per share of $38.86 and price-to-book ratio of 1.74x, roughly in line with peers.
  • Revenue declined 7.8% year-over-year in Q4 2024, marking four consecutive quarters of y/y declines.
  • Operating margin turned negative at –3.8% in Q4 2024, compared with +9.3% in Q4 2023.
  • Net loss of $0.9 million in Q4 2024 versus net income of $37.4 million in Q4 2023.
  • SG&A expenses increased to 76.2% of revenues in Q4 2024, up from 69.3% a year earlier.
  • Leverage remains elevated with debt/EBITDA at 3.45x and Free Cash Flow to Firm of –$1.56 billion in Q4 2024.
06/19/25 09:55 AMAI Generated. May Contain Errors.

Frequently Asked Questions About U-Haul's Financials

When does U-Haul's fiscal year end?

According to the most recent income statement we have on file, U-Haul's financial year ends in March. Their financial year 2024 ended on March 31, 2024.

How has U-Haul's net income changed over the last 9 years?

U-Haul's net income appears to be on an upward trend, with a most recent value of $628.71 million in 2024, rising from $356.74 million in 2015. The previous period was $924.47 million in 2023. Find out what analysts predict for U-Haul in the coming months.

What is U-Haul's operating income?
U-Haul's total operating income in 2024 was $977.79 million, based on the following breakdown:
  • Total Gross Profit: $5.38 billion
  • Total Operating Expenses: $4.41 billion
How has U-Haul's revenue changed over the last 9 years?

Over the last 9 years, U-Haul's total revenue changed from $3.07 billion in 2015 to $5.63 billion in 2024, a change of 83.0%.

How much debt does U-Haul have?

U-Haul's total liabilities were at $11.89 billion at the end of 2024, a 2.5% increase from 2023, and a 138.3% increase since 2015.

How much cash does U-Haul have?

In the past 9 years, U-Haul's cash and equivalents has ranged from $441.85 million in 2015 to $2.70 billion in 2022, and is currently $1.53 billion as of their latest financial filing in 2024.


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This page (NASDAQ:UHAL) was last updated on 6/19/2025 by MarketBeat.com Staff
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