U-Haul (UHAL) Financials

$51.21 +0.82 (+1.63%)

Closing price 03:59 PM Eastern

Extended Trading

$52.48 +1.27 (+2.47%)

As of 07:41 PM Eastern

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	2025
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	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	357	489	398	765	371	442	611	1,124	924	629	367
Consolidated Net Income / (Loss)	357	489	398	791	371	442	611	1,124	924	629	367
Net Income / (Loss) Continuing Operations	357	489	398	765	371	442	611	1,124	924	629	367
Total Pre-Tax Income	561	769	628	638	478	378	797	1,477	1,219	840	478
Total Operating Income	663	867	743	765	621	540	961	1,646	1,446	978	716
Total Gross Profit	2,928	3,130	3,269	3,441	3,607	3,815	4,328	5,480	5,602	5,384	5,595
Total Revenue	3,075	3,275	3,422	3,601	3,769	3,979	4,542	5,740	5,865	5,626	5,829
Operating Revenue	2,914	3,123	3,250	3,417	3,549	3,739	4,250	5,308	5,386	5,160	5,322
Other Revenue	160	152	172	184	219	240	292	431	479	466	506
Total Cost of Revenue	146	145	152	160	162	164	214	260	263	242	234
Operating Cost of Revenue	146	145	152	160	162	164	214	260	263	242	234
Total Operating Expenses	2,265	2,264	2,526	2,675	2,986	3,275	3,367	3,842	4,156	4,406	4,878
Selling, General & Admin Expense	1,729	1,733	1,834	2,084	2,270	2,405	2,517	3,106	3,441	3,511	3,683
Depreciation Expense	278	291	449	543	554	637	610	483	487	664	958
Amortization Expense	20	23	26	25	29	31	28	34	28	24	18
Other Operating Expenses / (Income)	239	217	220	219	133	202	208	220	201	208	219
Total Other Income / (Expense), net	-102	-98	-115	0.00	-143	-162	-164	-170	-226	-138	-239
Interest Expense	102	98	114	0.00	142	161	164	168	225	256	296
Interest & Investment Income	-	-	-	-	-	-	-	0.00	0.00	120	59
Other Income / (Expense), net	-	-	-0.90	0.00	-1.01	-1.05	-0.99	-1.12	-1.22	-1.46	-1.49
Income Tax Expense	205	280	230	0.00	107	-64	186	352	295	211	110
Basic Earnings per Share	-	-	$20.34	$40.36	$18.93	$22.55	$0.00	$12.66	$10.16	$6.26	$3.58
Weighted Average Basic Shares Outstanding	19.59M	19.60M	19.59M	19.59M	19.59M	19.60M	392.16M	392.16M	0.00	0.00	0.00
Diluted Earnings per Share	-	-	$20.34	$40.36	$18.93	$22.55	$0.00	$12.66	$10.16	$6.26	$3.58
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	176.47M
Basic & Diluted Earnings per Share	-	-	$20.34	$40.36	$18.93	$22.55	$0.00	-	$0.00	$3.04	$0.00
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	196.08M

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	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	257	274	99	-0.86	195	187	67	-82	142	106	37
Consolidated Net Income / (Loss)	257	274	99	-0.86	195	187	67	-82	142	106	-66
Net Income / (Loss) Continuing Operations	257	274	99	-0.86	195	187	67	-82	142	106	-66
Total Pre-Tax Income	339	358	130	14	256	246	89	-115	185	137	52
Total Operating Income	400	422	198	-42	306	302	151	-43	257	218	34
Total Gross Profit	1,540	1,650	1,340	1,043	1,548	1,658	1,389	999	1,630	1,720	1,416
Total Revenue	1,540	1,650	1,340	1,096	1,548	1,658	1,389	1,234	1,630	1,720	1,416
Operating Revenue	1,416	1,492	1,237	1,014	1,415	1,493	1,277	1,137	1,476	1,543	1,416
Total Cost of Revenue	0.00	0.00	0.00	53	0.00	0.00	0.00	234	0.00	0.00	0.00
Total Operating Expenses	1,141	1,228	1,142	1,085	1,242	1,356	1,238	1,042	1,373	1,502	1,382
Selling, General & Admin Expense	941	1,014	910	835	968	1,072	930	712	1,016	1,099	996
Depreciation Expense	138	154	174	198	217	227	246	268	304	341	325
Amortization Expense	8.05	6.83	4.16	5.21	4.65	4.44	4.49	4.76	4.92	4.96	4.92
Other Operating Expenses / (Income)	54	53	54	49	50	52	57	60	50	58	56
Total Other Income / (Expense), net	-61	-64	-68	55	-50	-56	-61	-72	-72	-81	-85
Interest Expense	61	64	67	64	68	71	77	80	82	90	96
Interest & Investment Income	0.00	0.00	0.00	-	18	16	16	9.05	11	10	11
Other Income / (Expense), net	-0.37	-0.36	-0.37	-0.36	-0.37	-0.37	-0.37	-0.37	-0.35	-0.35	-0.35
Income Tax Expense	82	85	31	15	61	59	22	-32	43	31	15
Basic Earnings per Share	$2.58	$2.76	$0.97	$2.07	$0.00	$1.87	$0.65	$1.06	$0.00	$1.03	$0.41
Weighted Average Basic Shares Outstanding	392.16M	392.16M	196.08M	392.16M	392.16M	0.00	0.00	0.00	392.16M	0.00	392.16M
Diluted Earnings per Share	$2.58	$2.76	$0.97	$2.07	$0.00	$0.00	$0.00	$3.58	$0.00	$0.00	$0.41
Weighted Average Diluted Shares Outstanding	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	176.47M	196.08M	196.08M	196.08M
Basic & Diluted Earnings per Share	$2.58	$2.76	$0.97	-	$0.00	$0.00	$0.00	-	$0.00	$0.00	$0.41
Weighted Average Basic & Diluted Shares Outstanding	196.08M	196.08M	196.08M	19.61M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M

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	2014	2015	2016	2017	2018	2022	2023	2024	2025
Period end date	3/31/2014	3/31/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Change in Cash & Equivalents	31	-53	159	97	62	1,102	-644	-526	-546
Net Cash From Operating Activities	734	759	1,045	1,058	936	1,946	1,730	1,453	1,454
Net Cash From Continuing Operating Activities	688	723	1,045	1,058	936	1,536	1,650	1,503	1,447
Net Income / (Loss) Continuing Operations	342	357	489	398	791	1,124	924	629	367
Consolidated Net Income / (Loss)	342	357	489	398	791	1,124	924	629	367
Depreciation Expense	293	353	389	482	555	697	734	818	972
Amortization Expense	20	23	27	30	28	25	50	24	31
Non-Cash Adjustments To Reconcile Net Income	-16	-61	-84	-15	-176	-139	-181	-72	88
Changes in Operating Assets and Liabilities, net	95	88	225	163	-261	-171	122	105	-11
Net Cash From Investing Activities	-847	-755	-1,260	-1,183	-897	1,867	-2,421	-2,046	-2,891
Net Cash From Continuing Investing Activities	-847	-755	-1,260	-1,183	-897	-1,867	-2,421	-2,046	-2,891
Purchase of Property, Plant & Equipment	-1,000	-1,042	-1,509	-1,420	-1,364	-2,137	-2,724	-2,993	-3,452
Purchase of Investments	-608	-569	-1,020	-1,179	-542	-887	-842	-520	-677
Sale of Property, Plant & Equipment	319	454	588	603	740	623	701	739	662
Sale and/or Maturity of Investments	443	401	686	850	237	543	434	724	572
Other Investing Activities, net	-	-	-4.36	-38	31	-9.33	9.30	2.98	3.98
Net Cash From Financing Activities	144	-46	389	224	17	1,433	60	67	895
Net Cash From Continuing Financing Activities	144	-46	389	224	17	1,433	60	67	895
Repayment of Debt	-385	-781	-720	-735	-840	-688	-1,266	-1,448	-1,422
Payment of Dividends	-20	-20	-78	-59	-29	-29	-34	-32	-35
Issuance of Debt	431	658	838	743	498	1,969	1,018	1,186	1,855
Other Financing Activities, net	118	97	349	274	388	181	341	360	497
Effect of Exchange Rate Changes	-0.18	-11	-16	-2.14	5.60	-	-12	1.10	-4.34

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	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	317	-232	-339	-262	-381	282	-435	-11	-112	206	-51
Net Cash From Operating Activities	466	472	303	213	454	530	272	199	598	552	241
Net Cash From Continuing Operating Activities	454	492	298	225	481	506	240	214	598	552	241
Net Income / (Loss) Continuing Operations	257	274	99	-0.86	195	187	67	-82	142	106	-37
Consolidated Net Income / (Loss)	257	274	99	-0.86	195	187	67	-82	142	106	-37
Depreciation Expense	193	201	210	214	224	245	250	253	282	302	299
Amortization Expense	5.85	6.02	-6.57	5.36	8.43	-5.55	12	16	8.03	9.14	8.38
Non-Cash Adjustments To Reconcile Net Income	-24	-16	-29	-7.68	35	-15	5.85	57	54	94	75
Changes in Operating Assets and Liabilities, net	22	28	25	14	18	94	-94	-29	112	40	-105
Net Cash From Investing Activities	-289	-798	-624	3,756	-803	-795	-841	-452	-764	-733	-515
Net Cash From Continuing Investing Activities	-288	-798	-624	-340	-803	-785	-850	-452	-764	-733	-515
Purchase of Property, Plant & Equipment	-774	-891	-737	-592	-963	-964	-936	-589	-917	-998	-688
Purchase of Investments	-66	-184	-154	-116	-101	-190	-245	-141	-163	-84	-167
Sale of Property, Plant & Equipment	193	215	190	141	147	218	165	132	166	220	185
Sale and/or Maturity of Investments	358	61	76	228	114	146	167	145	149	129	155
Other Investing Activities, net	0.36	0.21	0.47	-1.94	0.69	4.12	-1.36	0.53	0.55	0.03	0.15
Net Cash From Financing Activities	137	97	-22	-145	-31	542	161	223	47	390	220
Net Cash From Continuing Financing Activities	137	97	-22	-145	-31	542	161	223	47	390	220
Repayment of Debt	-353	-237	-427	-412	-448	-184	-404	-385	-429	-250	-645
Payment of Dividends	-7.06	-7.06	-8.82	-	-8.82	8.82	-	-	-8.82	-8.82	-8.82
Issuance of Debt	445	259	332	149	349	623	433	450	350	602	809
Other Financing Activities, net	51	81	82	118	76	94	133	194	135	47	65
Effect of Exchange Rate Changes	2.83	-2.63	-	-	-0.53	-	-	-	6.58	-2.41	3.83

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	2025
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	3/31/2025
Total Assets	6,872	8,109	9,406	10,747	11,892	13,438	14,652	17,300	18,101	19,059	20,479
Total Current Assets	2,623	3,006	3,342	3,897	3,927	5,560	6,193	7,551	6,107	5,804	3,862
Cash & Equivalents	442	601	698	759	674	494	1,194	2,704	2,061	1,535	989
Short-Term Investments	1,574	1,803	2,032	2,319	2,536	2,853	3,185	3,437	3,285	3,076	2,479
Accounts Receivable	190	175	178	194	225	187	224	229	189	274	231
Inventories, net	69	80	82	90	104	101	106	159	151	151	163
Plant, Property, & Equipment, net	4,108	5,018	5,977	6,817	7,934	7,843	8,331	9,626	11,350	13,135	15,113
Plant, Property & Equipment, gross	2,551	3,175	3,777	4,601	11,022	10,556	11,414	13,358	15,660	18,186	21,005
Accumulated Depreciation	1,940	2,134	2,384	2,721	3,088	2,713	3,083	3,733	4,310	5,051	5,892
Total Noncurrent Assets	142	86	86	33	31	35	128	122	643	120	1,504
Long-Term Investments	-	-	-	-	-	-	-	-	-	-	678
Other Noncurrent Operating Assets	142	86	86	33	31	35	128	122	169	120	826
Total Liabilities & Shareholders' Equity	6,872	8,109	9,406	10,747	11,892	13,438	14,652	17,300	18,101	19,059	20,479
Total Liabilities	4,988	5,858	6,786	7,339	8,199	9,217	9,800	11,414	11,597	11,886	12,981
Total Current Liabilities	514	525	479	545	592	586	688	727	813	834	874
Accounts Payable	496	503	451	511	557	554	646	678	761	783	821
Current Deferred Revenue	18	23	29	34	35	32	43	49	52	51	53
Total Noncurrent Liabilities	4,473	5,333	6,307	6,793	7,607	8,631	9,112	10,687	10,783	11,052	12,107
Long-Term Debt	2,191	2,647	3,263	3,513	4,163	4,621	4,669	6,022	6,108	6,271	7,194
Noncurrent Deferred & Payable Income Tax Liabilities	527	654	835	658	751	1,094	1,178	1,265	1,329	1,447	1,490
Other Noncurrent Operating Liabilities	1,756	2,032	2,209	2,622	2,693	2,916	3,264	3,400	3,346	3,334	3,423
Commitments & Contingencies	0.00	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	7,498
Total Preferred & Common Equity	1,884	2,251	2,620	3,409	3,692	4,221	4,852	5,885	6,504	7,172	7,498
Preferred Stock	-152	-152	-152	0.00	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	7,498
Common Stock	460	462	452	453	464	464	464	464	464	473	473
Retained Earnings	2,143	2,534	2,893	3,636	3,977	4,399	4,958	6,052	7,003	7,600	7,932
Treasury Stock	-526	-526	-526	-1,355	-678	-678	-678	-678	-678	-678	-678
Accumulated Other Comprehensive Income / (Loss)	-34	-61	-51	-4.62	-67	35	107	46	286	223	-229

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	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	12/31/2021	6/30/2022	12/31/2023	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Total Assets	16,588	17,832	19,003	19,305	20,127	20,330	20,848	21,428	21,618
Total Current Assets	7,249	7,693	5,755	5,158	5,687	5,339	5,149	5,293	3,881
Cash & Equivalents	2,327	3,098	1,806	1,153	1,436	1,017	877	1,083	1,032
Short-Term Investments	3,398	3,227	3,135	3,034	3,082	3,243	3,203	3,174	2,501
Accounts Receivable	230	220	245	321	272	239	271	222	173
Inventories, net	167	165	155	158	158	155	173	176	175
Plant, Property, & Equipment, net	9,283	10,021	12,796	13,755	14,325	14,875	15,590	16,031	16,227
Plant, Property & Equipment, gross	12,827	13,912	17,687	18,964	19,792	20,544	21,768	22,408	22,844
Accumulated Depreciation	3,545	3,891	4,890	5,210	5,466	5,669	6,178	6,377	6,617
Total Noncurrent Assets	56	118	451	393	115	116	110	105	1,509
Long-Term Investments	-	-	-	-	-	-	-	-	721
Other Noncurrent Operating Assets	56	118	451	393	115	116	110	105	788
Total Liabilities & Shareholders' Equity	16,588	17,832	19,003	0.00	0.00	20,330	20,848	21,428	21,618
Total Liabilities	10,773	11,758	11,915	11,955	12,607	12,699	13,188	13,661	13,874
Total Current Liabilities	635	786	775	896	951	847	966	926	820
Accounts Payable	635	723	729	833	897	799	901	870	765
Current Deferred Revenue	-	64	46	63	54	47	65	56	54
Total Noncurrent Liabilities	10,522	10,971	11,140	11,059	11,656	11,852	12,221	12,735	13,054
Long-Term Debt	5,398	6,233	6,437	6,280	6,761	6,897	7,250	7,695	8,017
Noncurrent Deferred & Payable Income Tax Liabilities	1,301	1,292	1,428	1,470	1,504	1,508	1,505	1,573	1,606
Other Noncurrent Operating Liabilities	3,395	3,447	3,275	3,309	3,391	3,447	3,467	3,467	3,431
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,815	6,074	7,705	7,814	8,001	8,006	7,661	7,768	7,744
Total Preferred & Common Equity	5,815	6,074	7,088	7,350	7,519	7,631	7,661	7,768	7,744
Preferred Stock	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5,815	6,074	7,705	7,814	8,001	8,006	7,661	7,768	7,744
Common Stock	464	464	464	473	473	473	473	473	473
Retained Earnings	5,965	6,376	7,610	7,787	7,965	8,023	8,065	8,162	8,116
Treasury Stock	-678	-678	-678	-678	-678	-678	-678	-678	-678
Accumulated Other Comprehensive Income / (Loss)	63	-89	309	232	241	187	-200	-190	-168

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	2025
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	3/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	196,077,880.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	196,077,880.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.87
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.44%	6.54%	4.47%	5.24%	4.65%	5.58%	14.15%	26.37%	2.18%	-4.08%	3.61%
EBITDA Growth	10.17%	23.42%	-2.23%	7.55%	-10.83%	0.40%	32.39%	48.11%	-6.84%	-17.58%	-5.53%
EBIT Growth	5.21%	30.71%	-14.35%	3.10%	-18.98%	-13.05%	78.11%	71.32%	-12.19%	-32.40%	-26.80%
NOPAT Growth	4.95%	30.82%	-14.50%	62.40%	-36.98%	30.93%	16.71%	70.08%	-12.56%	-33.24%	-24.76%
Net Income Growth	4.19%	37.07%	-18.52%	92.07%	-53.09%	19.20%	38.19%	84.06%	-17.78%	-31.99%	-41.61%
EPS Growth	0.00%	0.00%	0.00%	98.43%	-53.10%	19.12%	-100.00%	0.00%	-19.75%	-70.08%	-42.81%
Operating Cash Flow Growth	3.42%	37.71%	1.22%	-11.51%	0.00%	0.00%	0.00%	0.00%	-11.13%	-16.01%	0.12%
Free Cash Flow Firm Growth	46.87%	326.50%	-261.72%	140.22%	-526.88%	32.14%	601.85%	-42.37%	-164.41%	-106.08%	-39.33%
Invested Capital Growth	29.75%	21.16%	26.35%	21.89%	20.88%	18.27%	-6.43%	12.16%	26.02%	21.54%	19.39%
Revenue Q/Q Growth	1.35%	1.25%	0.78%	1.36%	-0.84%	2.47%	5.54%	-21.00%	39.30%	-1.62%	2.42%
EBITDA Q/Q Growth	-2.68%	6.58%	-2.95%	-1.85%	-0.72%	102.24%	7.28%	9.19%	10.93%	3.31%	1.67%
EBIT Q/Q Growth	-6.63%	9.02%	-7.80%	-5.16%	3.89%	-4.83%	15.71%	1.55%	-3.04%	-13.36%	-0.14%
NOPAT Q/Q Growth	-6.56%	8.94%	-7.83%	-18.15%	4.58%	149.80%	-10.59%	1.32%	-3.53%	-14.55%	3.67%
Net Income Q/Q Growth	-7.69%	9.66%	-9.75%	-3.05%	-39.03%	374.91%	-7.37%	-59.48%	233.90%	-5.53%	-18.15%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.17%	0.00%	0.00%	0.00%	0.00%	127.84%	395.15%	-100.00%
Operating Cash Flow Q/Q Growth	9.24%	-4.21%	-5.72%	-3.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.97%
Free Cash Flow Firm Q/Q Growth	67.26%	-63.80%	-89.57%	-39.76%	-107.41%	70.54%	3.21%	-14.03%	-106.11%	89.21%	-0.80%
Invested Capital Q/Q Growth	2.96%	14.06%	12.71%	6.52%	10.00%	5.39%	3.21%	5.07%	0.00%	2.90%	2.70%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	95.25%	95.57%	95.54%	95.54%	95.70%	95.88%	95.29%	95.48%	95.52%	95.71%	95.98%
EBITDA Margin	33.80%	39.16%	36.65%	37.45%	31.91%	30.34%	35.19%	41.24%	37.60%	32.31%	29.46%
Operating Margin	21.57%	26.46%	21.72%	21.25%	16.48%	13.57%	21.16%	28.68%	24.65%	17.38%	12.29%
EBIT Margin	21.57%	26.46%	21.69%	21.25%	16.45%	13.55%	21.14%	28.66%	24.63%	17.35%	12.26%
Profit (Net Income) Margin	11.60%	14.93%	11.64%	21.25%	9.84%	11.11%	13.45%	19.59%	15.76%	11.18%	6.30%
Tax Burden Percent	63.54%	63.60%	63.41%	120.02%	77.66%	116.91%	76.68%	76.15%	75.81%	74.83%	76.88%
Interest Burden Percent	84.68%	88.72%	84.65%	83.32%	77.02%	70.14%	82.97%	89.76%	84.42%	86.05%	66.82%
Effective Tax Rate	36.46%	36.40%	36.59%	0.00%	22.34%	-16.91%	23.32%	23.85%	24.19%	25.17%	23.12%
Return on Invested Capital (ROIC)	23.10%	24.20%	16.68%	21.87%	11.36%	12.45%	13.86%	22.98%	16.82%	9.09%	5.68%
ROIC Less NNEP Spread (ROIC-NNEP)	-31.74%	-5.43%	-2.04%	21.87%	-4.69%	-4.55%	-2.28%	-128.25%	-453.62%	-5.56%	-2.93%
Return on Net Nonoperating Assets (RNNOA)	-2.19%	-0.55%	-0.33%	3.51%	-0.92%	-1.28%	-0.39%	-2.04%	-2.55%	-0.53%	-0.83%
Return on Equity (ROE)	20.91%	23.65%	16.36%	25.39%	10.45%	11.17%	13.47%	20.94%	14.27%	8.56%	4.86%
Cash Return on Invested Capital (CROIC)	-2.79%	5.06%	-6.60%	2.14%	-7.54%	-4.28%	20.50%	11.52%	-6.21%	-10.36%	-11.99%
Operating Return on Assets (OROA)	10.30%	11.57%	8.48%	7.59%	5.48%	4.26%	6.84%	10.30%	8.16%	5.25%	3.62%
Return on Assets (ROA)	5.54%	6.53%	4.55%	7.59%	3.28%	3.49%	4.35%	7.04%	5.22%	3.38%	1.86%
Return on Common Equity (ROCE)	22.78%	25.39%	17.34%	25.98%	10.45%	11.17%	13.47%	20.94%	14.27%	8.56%	4.86%
Return on Equity Simple (ROE_SIMPLE)	18.93%	21.72%	15.21%	22.45%	10.04%	10.47%	12.59%	19.10%	14.21%	8.77%	0.00%
Net Operating Profit after Tax (NOPAT)	421	551	471	765	482	631	737	1,253	1,096	732	551
NOPAT Margin	13.70%	16.83%	13.77%	21.25%	12.80%	15.87%	16.23%	21.84%	18.69%	13.01%	9.45%
Net Nonoperating Expense Percent (NNEP)	54.84%	29.63%	18.72%	0.00%	16.05%	17.01%	16.14%	151.24%	470.44%	14.65%	8.61%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	3.75%
Cost of Revenue to Revenue	4.75%	4.43%	4.46%	4.46%	4.30%	4.12%	4.71%	4.52%	4.48%	4.29%	4.02%
SG&A Expenses to Revenue	56.24%	52.90%	53.61%	57.86%	60.22%	60.46%	55.42%	54.12%	58.67%	62.40%	63.18%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	73.68%	69.12%	73.82%	74.29%	79.22%	82.30%	74.13%	66.94%	70.87%	78.33%	83.70%
Earnings before Interest and Taxes (EBIT)	663	867	742	765	620	539	960	1,645	1,444	976	715
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,039	1,283	1,254	1,349	1,203	1,207	1,598	2,367	2,205	1,818	1,717
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	30.43	28.21	26.40	19.47	19.46	13.36	2.47	19.85	1.65	1.74	1.71
Price to Tangible Book Value (P/TBV)	30.43	28.21	26.40	19.47	19.46	13.36	2.47	19.85	1.65	1.74	1.71
Price to Revenue (P/Rev)	20.15	20.70	21.30	18.43	19.07	14.17	2.63	20.35	1.99	2.35	2.20
Price to Earnings (P/E)	173.69	138.63	182.97	86.73	193.77	127.56	19.58	103.91	12.65	21.06	34.91
Dividend Yield	0.32%	1.45%	0.81%	0.59%	0.55%	0.52%	0.41%	0.59%	0.00%	0.00%	0.00%
Earnings Yield	0.58%	0.72%	0.55%	1.15%	0.52%	0.78%	5.11%	0.96%	7.90%	4.75%	2.86%
Enterprise Value to Invested Capital (EV/IC)	30.09	27.20	23.24	17.38	15.67	10.49	2.38	20.24	1.71	1.69	1.50
Enterprise Value to Revenue (EV/Rev)	20.16	20.72	21.42	18.55	19.32	14.49	2.70	20.33	2.12	2.65	2.72
Enterprise Value to EBITDA (EV/EBITDA)	59.64	52.92	58.43	49.53	60.55	47.76	7.66	49.30	5.65	8.20	9.24
Enterprise Value to EBIT (EV/EBIT)	93.49	78.33	98.72	87.30	117.45	106.97	12.76	70.95	8.63	15.26	22.20
Enterprise Value to NOPAT (EV/NOPAT)	147.13	123.17	155.51	87.30	150.98	91.32	16.62	93.11	11.37	20.37	28.81
Enterprise Value to Operating Cash Flow (EV/OCF)	81.66	64.94	69.25	71.35	0.00	0.00	0.00	59.97	7.20	10.26	10.91
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	588.77	0.00	890.80	0.00	0.00	11.24	185.76	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.16	1.18	1.25	1.03	1.13	1.09	0.96	1.02	0.86	0.82	0.96
Long-Term Debt to Equity	1.16	1.18	1.25	1.03	1.13	1.09	0.96	1.02	0.86	0.82	0.96
Financial Leverage	0.07	0.10	0.16	0.16	0.20	0.28	0.17	0.02	0.01	0.10	0.28
Leverage Ratio	3.77	3.62	3.60	3.34	3.19	3.20	3.10	2.98	2.73	2.53	2.62
Compound Leverage Factor	3.19	3.21	3.04	2.79	2.46	2.25	2.57	2.67	2.31	2.18	1.75
Debt to Total Capital	53.76%	54.04%	55.47%	50.75%	53.00%	52.27%	49.04%	50.58%	46.33%	45.15%	48.96%
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%	0.00%
Long-Term Debt to Total Capital	53.76%	54.04%	55.47%	50.75%	53.00%	52.27%	49.04%	50.58%	46.33%	45.15%	48.96%
Preferred Equity to Total Capital	-3.73%	-3.10%	-2.58%	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%	0.00%
Common Equity to Total Capital	49.97%	49.06%	46.94%	49.25%	47.00%	47.73%	50.96%	49.42%	53.67%	54.85%	51.04%
Debt to EBITDA	2.11	2.06	2.60	2.60	3.46	3.83	2.92	2.54	2.77	3.45	4.19
Net Debt to EBITDA	0.17	0.19	0.43	0.32	0.79	1.06	0.18	-0.05	0.35	0.91	1.77
Long-Term Debt to EBITDA	2.11	2.06	2.60	2.60	3.46	3.83	2.92	2.54	2.77	3.45	4.19
Debt to NOPAT	5.20	4.80	6.92	4.59	8.63	7.32	6.34	4.80	5.57	8.57	13.07
Net Debt to NOPAT	0.42	0.44	1.13	0.57	1.98	2.02	0.39	-0.09	0.70	2.27	5.54
Long-Term Debt to NOPAT	5.20	4.80	6.92	4.59	8.63	7.32	6.34	4.80	5.57	8.57	13.07
Altman Z-Score	9.02	8.50	7.87	6.85	6.55	5.00	2.18	7.75	2.09	1.98	1.71
Noncontrolling Interest Sharing Ratio	-8.91%	-7.35%	-6.03%	-2.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.10	5.72	6.97	7.63	6.63	9.49	9.00	10.39	7.51	6.54	4.42
Quick Ratio	4.29	4.91	6.07	6.40	5.80	6.03	6.69	8.76	6.80	5.79	4.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-51	115	-186	75	-320	-217	1,090	628	-405	-834	-1,162
Operating Cash Flow to CapEx	129.12%	113.46%	129.60%	150.16%	0.00%	0.00%	0.00%	128.61%	85.52%	64.46%	52.13%
Free Cash Flow to Firm to Interest Expense	-0.50	1.18	-1.64	0.00	-2.25	-1.35	6.67	3.73	-1.80	-3.26	-3.92
Operating Cash Flow to Interest Expense	7.47	10.70	9.29	0.00	0.00	0.00	0.00	11.56	7.69	5.67	4.91
Operating Cash Flow Less CapEx to Interest Expense	1.68	1.27	2.12	0.00	0.00	0.00	0.00	2.57	-1.30	-3.13	-4.51
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.48	0.44	0.39	0.36	0.33	0.31	0.32	0.36	0.33	0.30	0.29
Accounts Receivable Turnover	15.80	17.95	19.37	19.38	18.02	19.34	22.10	25.30	28.00	27.75	23.10
Inventory Turnover	2.14	1.94	1.88	1.86	1.68	1.60	2.07	1.96	1.70	1.60	1.49
Fixed Asset Turnover	0.82	0.72	0.62	0.56	0.51	0.50	0.56	0.64	0.56	0.46	0.41
Accounts Payable Turnover	0.00	0.29	0.32	0.33	0.30	0.30	0.36	0.39	0.37	0.31	0.29
Days Sales Outstanding (DSO)	23.10	20.34	18.84	18.83	20.26	18.87	16.52	14.43	13.03	13.15	15.80
Days Inventory Outstanding (DIO)	170.53	187.83	194.12	195.95	217.66	227.64	176.19	185.93	215.34	228.47	244.80
Days Payable Outstanding (DPO)	0.00	1,257.33	1,140.68	1,093.55	1,202.08	1,236.44	1,023.02	930.38	998.32	1,166.58	1,250.20
Cash Conversion Cycle (CCC)	193.63	-1,049.16	-927.72	-878.76	-964.16	-989.93	-830.31	-730.02	-769.95	-924.96	-989.60
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,060	2,496	3,153	3,843	4,646	5,495	5,141	5,766	7,267	8,833	10,545
Invested Capital Turnover	1.69	1.44	1.21	1.03	0.89	0.78	0.85	1.05	0.90	0.70	0.60
Increase / (Decrease) in Invested Capital	472	436	658	690	802	849	-353	625	1,501	1,566	1,713
Enterprise Value (EV)	61,985	67,882	73,280	66,805	72,814	57,663	12,250	116,711	12,459	14,903	15,863
Market Capitalization	61,961	67,790	72,898	66,370	71,861	56,389	11,961	116,830	11,696	13,243	12,816
Book Value per Share	$103.85	$122.57	$140.82	$173.84	$188.31	$215.26	$247.45	$300.15	$36.08	$38.86	$38.24
Tangible Book Value per Share	$103.85	$122.57	$140.82	$173.84	$188.31	$215.26	$247.45	$300.15	$36.08	$38.86	$38.24
Total Capital	4,075	4,899	5,883	6,922	7,856	8,842	9,521	11,908	13,183	13,890	14,692
Total Debt	2,191	2,647	3,263	3,513	4,163	4,621	4,669	6,022	6,108	6,271	7,194
Total Long-Term Debt	2,191	2,647	3,263	3,513	4,163	4,621	4,669	6,022	6,108	6,271	7,194
Net Debt	175	244	533	435	953	1,274	289	-119	763	1,660	3,047
Capital Expenditures (CapEx)	588	921	816	624	0.00	0.00	0.00	1,513	2,023	2,254	2,790
Debt-free, Cash-free Net Working Capital (DFCFNWC)	93	77	134	308	125	1,627	1,125	683	-51	12	-480
Debt-free Net Working Capital (DFNWC)	2,108	2,481	2,863	3,386	3,335	4,974	5,505	6,825	5,294	4,623	2,988
Net Working Capital (NWC)	2,108	2,481	2,863	3,386	3,335	4,974	5,505	6,825	5,294	4,623	2,988
Net Nonoperating Expense (NNE)	65	62	73	0.00	111	189	126	129	171	103	183
Net Nonoperating Obligations (NNO)	175	244	533	435	953	1,274	289	-119	192	1,214	3,047
Total Depreciation and Amortization (D&A)	376	416	512	583	583	668	638	722	761	841	1,003
Debt-free, Cash-free Net Working Capital to Revenue	3.02%	2.37%	3.91%	8.55%	3.32%	40.88%	24.78%	11.90%	-0.87%	0.21%	-8.23%
Debt-free Net Working Capital to Revenue	68.57%	75.74%	83.67%	94.03%	88.49%	125.02%	121.20%	118.90%	90.27%	82.17%	51.27%
Net Working Capital to Revenue	68.57%	75.74%	83.67%	94.03%	88.49%	125.02%	121.20%	118.90%	90.27%	82.17%	51.27%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.89	$2.26	$3.12	$5.73	$0.00	$3.04	$3.58
Adjusted Weighted Average Basic Shares Outstanding	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	392.16M	392.16M	0.00
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.89	$2.26	$3.12	$5.73	$0.00	$3.04	$3.58
Adjusted Weighted Average Diluted Shares Outstanding	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	176.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.89	$2.26	$3.12	$5.73	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	195.87M	195.96M	195.87M	195.89M	195.92M	196.04M	196.08M	196.08M	196.08M	19.61M	196.08M
Normalized Net Operating Profit after Tax (NOPAT)	421	551	469	399	482	378	739	1,253	1,096	732	551
Normalized NOPAT Margin	13.70%	16.82%	13.70%	11.08%	12.80%	9.49%	16.28%	21.84%	18.69%	13.01%	9.45%
Pre Tax Income Margin	18.26%	23.47%	18.36%	17.71%	12.67%	9.50%	17.54%	25.73%	20.79%	14.93%	8.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.53	8.87	6.52	0.00	4.35	3.35	5.87	9.77	6.42	3.81	2.41
NOPAT to Interest Expense	4.15	5.64	4.14	0.00	3.39	3.92	4.51	7.44	4.87	2.86	1.86
EBIT Less CapEx to Interest Expense	0.74	-0.56	-0.65	0.00	0.00	0.00	0.00	0.78	-2.57	-4.99	-7.01
NOPAT Less CapEx to Interest Expense	-1.64	-3.79	-3.03	0.00	0.00	0.00	0.00	-1.54	-4.12	-5.94	-7.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	5.49%	16.03%	14.75%	3.84%	0.00%	0.00%	0.00%	2.62%	2.12%	0.00%	9.61%
Augmented Payout Ratio	5.49%	16.03%	14.75%	3.84%	0.00%	0.00%	0.00%	2.62%	2.12%	0.00%	9.61%

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
DEI Shares Outstanding	-	-	-	-	19,607,788.00	196,077,880.00	196,077,880.00	196,077,880.00	196,077,880.00	196,077,880.00	196,077,880.00
DEI Adjusted Shares Outstanding	-	-	-	-	19,607,788.00	196,077,880.00	196,077,880.00	196,077,880.00	196,077,880.00	196,077,880.00	196,077,880.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	9.97	0.95	0.34	-0.42	0.73	0.54	0.19
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.60%	-3.11%	-2.60%	-7.80%	0.53%	0.50%	3.66%	20.94%	5.29%	3.73%	1.95%
EBITDA Growth	-20.70%	-9.47%	-14.87%	-42.16%	-10.02%	-14.00%	-39.99%	-36.10%	1.59%	-2.29%	-18.86%
EBIT Growth	-19.37%	-18.79%	-38.31%	-138.41%	-23.40%	-28.53%	-23.76%	-135.45%	-15.96%	-27.96%	-77.84%
NOPAT Growth	-19.48%	-18.15%	-38.13%	-96.67%	-22.98%	-28.99%	-25.06%	-136.69%	-15.33%	-26.80%	-78.69%
Net Income Growth	-24.09%	-21.82%	-50.10%	-102.31%	-23.91%	-31.70%	-32.31%	-150.01%	-27.17%	-43.50%	-198.55%
EPS Growth	0.00%	0.00%	-51.50%	-74.63%	-100.00%	-100.00%	-100.00%	601.96%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	-0.57%	-2.53%	12.43%	-40.06%	-6.67%	31.83%	4.01%	-11.42%
Free Cash Flow Firm Growth	1,112.38%	-94.07%	-247.12%	-9.98%	-246.56%	-3,054.96%	81.37%	-17.42%	87.08%	86.62%	22.68%
Invested Capital Growth	0.00%	0.00%	0.00%	21.54%	0.00%	0.00%	19.62%	19.39%	14.69%	14.78%	12.06%
Revenue Q/Q Growth	29.58%	7.11%	-18.81%	-18.18%	51.83%	7.08%	-16.26%	-11.17%	32.18%	5.49%	-17.69%
EBITDA Q/Q Growth	112.57%	6.93%	-35.67%	-52.85%	52.30%	0.42%	-22.38%	-46.17%	142.14%	-3.41%	-35.55%
EBIT Q/Q Growth	268.55%	5.68%	-53.26%	-121.38%	151.29%	-1.40%	-50.14%	-128.70%	695.78%	-15.49%	-84.66%
NOPAT Q/Q Growth	291.37%	6.46%	-53.17%	-98.25%	186.00%	-1.85%	-50.58%	-126.45%	760.04%	-15.15%	-85.61%
Net Income Q/Q Growth	614.73%	6.49%	-63.72%	-100.87%	18.76%	-4.41%	-64.04%	-222.52%	272.96%	-25.84%	-162.71%
EPS Q/Q Growth	100.00%	0.00%	0.00%	113.40%	-100.00%	0.00%	0.00%	0.00%	-100.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	113.39%	16.85%	-48.79%	-26.91%	201.40%	-7.81%	-56.38%
Free Cash Flow Firm Q/Q Growth	541.55%	-94.87%	-2,713.88%	81.47%	-520.58%	-3.52%	83.52%	-10.94%	31.73%	-7.20%	4.78%
Invested Capital Q/Q Growth	-100.00%	0.00%	0.00%	2.90%	6.91%	3.38%	5.18%	2.70%	2.70%	3.46%	2.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	95.41%	95.96%	96.15%	95.19%	100.00%	100.00%	100.00%	81.02%	100.00%	100.00%	100.00%
EBITDA Margin	35.39%	35.33%	28.00%	16.13%	34.78%	32.62%	30.23%	18.32%	33.56%	30.73%	24.06%
Operating Margin	25.95%	25.60%	14.75%	-3.82%	19.78%	18.21%	10.86%	-3.47%	15.79%	12.65%	2.38%
EBIT Margin	25.92%	25.58%	14.72%	-3.85%	19.75%	18.19%	10.83%	-3.50%	15.77%	12.63%	2.35%
Profit (Net Income) Margin	16.67%	16.58%	7.41%	-0.08%	12.62%	11.27%	4.84%	-6.67%	8.73%	6.14%	-4.68%
Tax Burden Percent	75.83%	76.39%	76.46%	-6.32%	76.22%	75.87%	75.12%	71.86%	76.78%	77.07%	-128.33%
Interest Burden Percent	84.82%	84.85%	65.80%	-32.39%	83.82%	81.64%	59.47%	265.40%	72.11%	63.04%	154.77%
Effective Tax Rate	24.17%	23.61%	23.54%	106.32%	23.78%	24.13%	24.88%	0.00%	23.22%	22.93%	28.33%
Return on Invested Capital (ROIC)	0.00%	0.00%	15.03%	0.17%	17.99%	15.97%	4.92%	-1.46%	7.07%	5.55%	0.94%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	3.23%	-0.33%	13.32%	11.17%	1.99%	-3.92%	4.76%	3.16%	-2.06%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.37%	-0.03%	2.78%	2.46%	0.40%	-1.10%	1.48%	1.04%	-0.79%
Return on Equity (ROE)	0.00%	0.00%	15.39%	0.14%	20.76%	18.43%	5.32%	-2.56%	8.54%	6.60%	0.15%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-180.05%	-10.36%	-185.98%	-188.36%	-12.23%	-11.99%	-8.60%	-9.41%	-8.03%
Operating Return on Assets (OROA)	0.00%	0.00%	4.43%	-1.17%	5.76%	5.10%	3.13%	-1.03%	4.64%	3.63%	0.67%
Return on Assets (ROA)	0.00%	0.00%	2.23%	-0.02%	3.68%	3.16%	1.40%	-1.97%	2.57%	1.76%	-1.34%
Return on Common Equity (ROCE)	0.00%	0.00%	15.39%	0.14%	20.76%	18.43%	5.32%	-2.56%	8.54%	6.60%	0.15%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	9.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	303	323	151	2.64	233	229	113	-30	198	168	24
NOPAT Margin	19.68%	19.56%	11.28%	0.24%	15.07%	13.82%	8.15%	-2.43%	12.12%	9.75%	1.70%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	11.80%	0.50%	4.66%	4.80%	2.93%	2.46%	2.30%	2.39%	3.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	1.66%	1.55%	0.76%	-0.20%	1.33%	1.08%	0.15%
Cost of Revenue to Revenue	4.59%	4.04%	3.85%	4.81%	0.00%	0.00%	0.00%	18.98%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	56.49%	57.41%	64.08%	76.17%	62.53%	64.67%	66.99%	57.72%	62.29%	63.90%	70.33%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	69.47%	70.36%	81.40%	99.00%	80.22%	81.79%	89.14%	84.49%	84.21%	87.35%	97.62%
Earnings before Interest and Taxes (EBIT)	399	422	197	-42	306	302	150	-43	257	217	33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	545	583	375	177	539	541	420	226	547	529	341
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.83	1.74	1.55	1.90	1.69	1.71	1.55	1.44	1.28
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.83	1.74	1.55	1.90	1.69	1.71	1.55	1.44	1.28
Price to Revenue (P/Rev)	1.87	1.86	2.46	2.35	2.15	2.69	2.38	2.20	2.01	1.87	1.65
Price to Earnings (P/E)	12.89	13.98	21.15	21.06	21.34	31.61	30.20	34.91	37.82	48.08	48.80
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.76%	7.15%	4.73%	4.75%	4.69%	3.16%	3.31%	2.86%	2.64%	2.08%	2.05%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.81	1.69	1.50	1.79	1.58	1.50	1.39	1.31	1.19
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	2.72	2.65	2.52	3.09	2.84	2.72	2.55	2.45	2.27
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	8.85	8.20	8.08	10.44	9.58	9.24	8.72	8.54	8.35
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	13.82	15.26	16.08	22.87	22.61	22.20	22.59	25.15	29.38
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	18.19	20.37	21.45	30.68	30.48	28.81	29.19	32.04	37.51
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	10.26	9.85	11.63	11.02	10.91	9.41	9.03	8.59
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.84	0.82	0.80	0.85	0.86	0.96	0.95	0.99	1.04
Long-Term Debt to Equity	0.00	0.00	0.84	0.82	0.80	0.85	0.86	0.96	0.95	0.99	1.04
Financial Leverage	0.00	0.00	0.11	0.10	0.21	0.22	0.20	0.28	0.31	0.33	0.38
Leverage Ratio	0.00	0.00	2.47	2.53	2.47	2.52	2.50	2.62	2.59	2.64	2.66
Compound Leverage Factor	0.00	0.00	1.62	-0.82	2.07	2.05	1.49	6.94	1.87	1.66	4.12
Debt to Total Capital	0.00%	0.00%	45.52%	45.15%	44.56%	45.80%	46.28%	48.96%	48.62%	49.76%	50.87%
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%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	45.52%	45.15%	44.56%	45.80%	46.28%	48.96%	48.62%	49.76%	50.87%
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%	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%	0.00%
Common Equity to Total Capital	0.00%	0.00%	54.48%	54.85%	55.44%	54.20%	53.72%	51.04%	51.38%	50.24%	49.13%
Debt to EBITDA	0.00	0.00	3.66	3.45	3.57	4.05	4.08	4.19	4.20	4.49	4.91
Net Debt to EBITDA	0.00	0.00	0.85	0.91	1.19	1.34	1.56	1.77	1.84	2.01	2.30
Long-Term Debt to EBITDA	0.00	0.00	3.66	3.45	3.57	4.05	4.08	4.19	4.20	4.49	4.91
Debt to NOPAT	0.00	0.00	7.52	8.57	9.49	11.90	12.99	13.07	14.06	16.86	22.04
Net Debt to NOPAT	0.00	0.00	1.75	2.27	3.16	3.95	4.97	5.54	6.15	7.53	10.34
Long-Term Debt to NOPAT	0.00	0.00	7.52	8.57	9.49	11.90	12.99	13.07	14.06	16.86	22.04
Altman Z-Score	0.00	0.00	1.92	1.81	1.78	1.89	1.76	1.59	1.65	1.58	1.41
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.00	7.43	6.54	5.76	5.98	6.30	4.42	5.33	5.72	4.74
Quick Ratio	0.00	0.00	6.69	5.79	5.03	5.04	5.31	4.23	4.50	4.84	4.52
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6,284	323	-8,433	-1,563	-9,210	-9,534	-1,571	-1,743	-1,190	-1,275	-1,214
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	47.17%	55.59%	71.13%	35.22%	43.47%	79.74%	70.90%	47.86%
Free Cash Flow to Firm to Interest Expense	103.70	5.05	-125.03	-24.35	-136.01	-133.34	-20.51	-21.67	-14.45	-14.12	-12.69
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	3.31	6.70	7.42	3.55	2.47	7.27	6.11	2.51
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	-3.71	-5.35	-3.01	-6.52	-3.21	-1.85	-2.51	-2.74
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.30	0.30	0.29	0.28	0.29	0.29	0.29	0.29	0.29
Accounts Receivable Turnover	0.00	0.00	23.37	27.75	17.56	20.75	23.51	23.10	19.96	24.18	29.12
Inventory Turnover	0.00	0.00	1.58	1.60	1.53	1.53	1.56	1.49	1.42	1.40	1.42
Fixed Asset Turnover	0.00	0.00	0.45	0.46	0.41	0.39	0.41	0.41	0.40	0.39	0.39
Accounts Payable Turnover	0.00	0.00	0.34	0.31	0.29	0.27	0.32	0.29	0.27	0.27	0.30
Days Sales Outstanding (DSO)	0.00	0.00	15.62	13.15	20.79	17.59	15.52	15.80	18.29	15.10	12.53
Days Inventory Outstanding (DIO)	0.00	0.00	231.21	228.47	238.17	238.12	234.43	244.80	257.93	260.12	257.34
Days Payable Outstanding (DPO)	0.00	0.00	1,086.82	1,166.58	1,259.10	1,355.08	1,155.00	1,250.20	1,351.83	1,376.91	1,219.72
Cash Conversion Cycle (CCC)	0.00	0.00	-839.99	-924.96	-1,000.14	-1,099.37	-905.05	-989.60	-1,075.61	-1,101.69	-949.84
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	0.00	8,584	8,833	9,443	9,763	10,268	10,545	10,831	11,206	11,507
Invested Capital Turnover	0.00	0.00	1.33	0.70	1.19	1.16	0.60	0.60	0.58	0.57	0.55
Increase / (Decrease) in Invested Capital	-5,981	0.00	8,584	1,566	9,443	9,763	1,684	1,713	1,387	1,443	1,239
Enterprise Value (EV)	0.00	0.00	15,575	14,903	14,197	17,435	16,184	15,863	15,044	14,628	13,647
Market Capitalization	10,847	10,700	14,078	13,243	12,104	15,192	13,547	12,816	11,874	11,190	9,884
Book Value per Share	$0.00	$0.00	$39.30	$38.86	$39.85	$40.81	$40.83	$38.24	$39.07	$39.62	$39.49
Tangible Book Value per Share	$0.00	$0.00	$39.30	$38.86	$39.85	$40.81	$40.83	$38.24	$39.07	$39.62	$39.49
Total Capital	0.00	0.00	14,142	13,890	14,094	14,762	14,903	14,692	14,911	15,463	15,761
Total Debt	0.00	0.00	6,437	6,271	6,280	6,761	6,897	7,194	7,250	7,695	8,017
Total Long-Term Debt	0.00	0.00	6,437	6,271	6,280	6,761	6,897	7,194	7,250	7,695	8,017
Net Debt	0.00	0.00	1,496	1,660	2,093	2,243	2,637	3,047	3,170	3,438	3,763
Capital Expenditures (CapEx)	0.00	0.00	0.00	451	816	746	771	457	750	778	503
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	39	12	74	218	232	-480	102	110	-472
Debt-free Net Working Capital (DFNWC)	0.00	0.00	4,980	4,623	4,262	4,736	4,492	2,988	4,182	4,367	3,062
Net Working Capital (NWC)	0.00	0.00	4,980	4,623	4,262	4,736	4,492	2,988	4,182	4,367	3,062
Net Nonoperating Expense (NNE)	46	49	52	3.50	38	42	46	52	55	62	90
Net Nonoperating Obligations (NNO)	0.00	0.00	879	1,214	1,629	1,762	2,262	3,047	3,170	3,438	3,763
Total Depreciation and Amortization (D&A)	146	161	178	219	233	239	269	269	290	311	307
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.68%	0.21%	1.32%	3.87%	4.07%	-8.23%	1.73%	1.85%	-7.87%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	87.09%	82.17%	75.65%	83.94%	78.93%	51.27%	70.76%	73.12%	51.03%
Net Working Capital to Revenue	0.00%	0.00%	87.09%	82.17%	75.65%	83.94%	78.93%	51.27%	70.76%	73.12%	51.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.97	$2.07	$1.95	$1.87	$0.30	$1.06	$0.00	$1.03	$0.41
Adjusted Weighted Average Basic Shares Outstanding	392.16M	392.16M	392.16M	392.16M	196.08M	196.08M	196.08M	0.00	392.16M	0.00	392.16M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.97	$2.07	$1.95	$1.87	$0.35	$3.58	$0.00	$0.00	$0.41
Adjusted Weighted Average Diluted Shares Outstanding	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	176.47M	196.08M	196.08M	196.08M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.97	$0.00	$1.95	$1.87	$0.35	$0.00	$0.00	$0.00	$0.41
Adjusted Weighted Average Basic & Diluted Shares Outstanding	196.08M	196.08M	196.08M	19.61M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M	196.08M
Normalized Net Operating Profit after Tax (NOPAT)	304	324	151	-29	236	229	113	-30	196	168	24
Normalized NOPAT Margin	19.73%	19.63%	11.28%	-2.67%	15.23%	13.82%	8.15%	-2.43%	12.05%	9.75%	1.70%
Pre Tax Income Margin	21.99%	21.70%	9.69%	1.25%	16.56%	14.85%	6.44%	-9.28%	11.37%	7.96%	3.64%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.59	6.60	2.92	-0.66	4.52	4.22	1.96	-0.54	3.12	2.41	0.35
NOPAT to Interest Expense	5.00	5.05	2.24	0.04	3.45	3.20	1.48	-0.37	2.40	1.86	0.25
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-7.68	-7.54	-6.21	-8.11	-6.22	-5.99	-6.21	-4.91
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-6.98	-8.61	-7.23	-8.59	-6.05	-6.71	-6.76	-5.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	5.91%	3.67%	7.87%	9.61%	11.24%	22.75%	35.51%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	5.91%	3.67%	7.87%	9.61%	11.24%	22.75%	35.51%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise four-year view of U-Haul Holding Co (NYSE: UHAL) across the last four fiscal years, using the quarterly cash flow, income statement, and balance sheet data you provided. The highlights touch on revenue, cash generation, investing activity, financing activity, and leverage.

Revenue growth: In Q3 2026, operating revenue rose to about $1.416B, up from roughly $1.277B in Q3 2025, indicating stronger topline momentum year over year.
Earnings per share: Latest quarters show positive per-share profitability for common shareholders (Q3 2026 basic EPS of $0.41; prior quarters also show positive EPS in 2025–2024), suggesting ongoing profitability on a per-share basis.
Robust operating cash flow: Q3 2026 generated about $240.6M in net cash from continuing operating activities, underscoring solid cash generation from core operations.
Debt financing activity: Q3 2026 saw issuance of debt of about $808.8M, providing additional liquidity and funding flexibility.
Financing cash flow support: Net cash from continuing financing activities in Q3 2026 was approximately $220.3M, contributing to overall cash flow resilience.
Solid balance sheet scale: Total assets around $21.62B in Q3 2026 with cash & equivalents near $1.03B; indicates a larger, more liquid balance sheet compared with prior years (neutral in terms of immediate stock impact).
Unusual accounting pattern: Cost of revenue is frequently reported as zero in multiple quarters, which is atypical for a rental-and-services model and warrants note for potential readers (neutral to impact).
Investing cash flow heavy outflows: Net cash from continuing investing activities was negative in Q3 2026 (about -$515.3M), driven by ongoing capital expenditures and investments in PPE and other assets.
Cash balance pressure from investing: Repeated large outflows from investing activities across 2024–2026 have at times pressured near-term cash, despite positive operating cash flow (negative overall quarterly cashChange in some periods).
Rising leverage: Long-term debt hovered around the higher end by Q3 2026 (approximately $8.02B), signaling higher interest commitments and elevated leverage going forward.

05/05/26 10:02 PM ETAI 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 2025 ended on March 31, 2025.

How has U-Haul's net income changed over the last 10 years?

U-Haul's net income appears to be on an upward trend, with a most recent value of $367.09 million in 2025, rising from $356.74 million in 2015. The previous period was $628.71 million in 2024. View U-Haul's forecast to see where analysts expect U-Haul to go next.

What is U-Haul's operating income?

U-Haul's total operating income in 2025 was $716.15 million, based on the following breakdown:

Total Gross Profit: $5.59 billion
Total Operating Expenses: $4.88 billion

How has U-Haul's revenue changed over the last 10 years?

Over the last 10 years, U-Haul's total revenue changed from $3.07 billion in 2015 to $5.83 billion in 2025, a change of 89.6%.

How much debt does U-Haul have?

U-Haul's total liabilities were at $12.98 billion at the end of 2025, a 9.2% increase from 2024, and a 160.3% increase since 2015.

How much cash does U-Haul have?

In the past 10 years, U-Haul's cash and equivalents has ranged from $441.85 million in 2015 to $2.70 billion in 2022, and is currently $988.83 million as of their latest financial filing in 2025.

How has U-Haul's book value per share changed over the last 10 years?

Over the last 10 years, U-Haul's book value per share changed from 103.85 in 2015 to 38.24 in 2025, a change of -63.2%.

Related Companies

Financial statements for NYSE:UHAL last updated on 4/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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