U-Haul (UHAL) AI Stock Analysis

• Market Cap: $7.87B
• Dividend Yield: N/A
• Average Volume (3M): 212.35K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.77
• Revenue Growth: 4.32%
• EPS Growth: -55.65%
• Country: US
• Employees: 17,836
• Sector: Industrials
• Sector Strength: 72
• Industry: Rental & Leasing Services
• EPS (TTM): -0.23
• Shares Outstanding: 19,607,788
• 10 Day Avg. Volume: 275,860
• 30 Day Avg. Volume: 212,351
• PEG Ratio: -0.87
• Price to Book (P/B): 1.71
• Price to Sales (P/S): 2.20
• P/FCF Ratio: -6.41
• Enterprise Value/Market Cap: 1.91
• Enterprise Value/Revenue: 2.51
• Enterprise Value/Gross Profit: 9.01
• Enterprise Value/Ebitda: 9.11
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.41
• Revenue Forecast (FY): $6.05B

• Rating: 59 Neutral
• Price Target: $45.00 ▼(-13.91% Downside)
• Action: Reiterated Date: 02/05/26
• Date: Action: Reiterated 02/05/26

The score is driven down primarily by weakened financial profitability/returns and a demanding valuation (high P/E with no dividend yield provided). Technicals are a relative bright spot with a positive trend and supportive momentum, while the latest earnings call remains mixed: near-term cost/depreciation headwinds are significant, but management’s planned capex pullback and solid liquidity provide partial support.

Positive Factors

Self-storage revenue growth

Consistent storage revenue and rate gains indicate growing recurring, less cyclical cash flows and pricing power in U-Haul's real-estate portfolio. Higher revenue per foot and same-store revenue improvements support durable unit-level economics and predictable monthly revenue streams over coming quarters.

Large U-Box and dealer network

Scale across U-Box, company locations and thousands of dealers creates a broad, entrenched distribution footprint. Network density supports higher utilization, cross-selling of supplies and storage, and competitive barriers that sustain transaction volume and operating leverage over multiple quarters.

Liquidity and planned capex rebalancing

A material capex pullback combined with meaningful available liquidity strengthens financial flexibility and reduces future depreciation pressure. Slowing fleet purchases addresses overcapacity, should limit further disposal losses, and helps align capital spend with normalized demand over the medium term.

Negative Factors

Compressed profit margins

Material margin compression versus recent years signals weaker profitability on the capital base and reduced earnings power from core rentals and storage. If sustained, lower margins limit reinvestment capacity and make returns more sensitive to any revenue softness or cost inflation.

Elevated depreciation and disposal losses

Large losses tied to recent van/pickup cohorts and heavier depreciation are structural headwinds until fleet mix normalizes. Continued disposal losses erode gross margins and cash realizations on assets, creating a persistent drag on earnings and capital returns for multiple quarters.

Volatile free cash flow and moderate leverage

Inconsistent free cash flow across recent years shows capex and working-capital sensitivity, reducing predictability of internal funding. Combined with moderate-to-elevated leverage, this limits capacity for opportunistic investments and increases vulnerability to cyclical demand or further cash outflows from fleet dispositions.

U-Haul Business Overview & Revenue Model

Company Description

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. The company's Moving and Storage segment rents trucks, trailers, 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. It also provides uhaul.com, an online marketplace that connects consumers to independent Moving Help service providers and independent self-storage affiliates; auto transport and tow dolly options to transport vehicles; and specialty boxes for dishes, computers, flat screen television, and sensitive electronic equipment, as well as tapes, security locks, and packing supplies. This segment rents its products and services through a network of approximately 2,100 company operated retail moving stores and 21,100 independent U-Haul dealers. As of March 31, 2022, it had a rental fleet of approximately 186,000 trucks, 128,000 trailers, and 46,000 towing devices; and 1,844 self-storage locations with approximately 876,000 rentable storage units. The company's Property and Casualty Insurance segment offers loss adjusting and claims handling services. It also 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 customers from loss on their goods in storage; Safestor Mobile, which protects customers stored belongings; and Safemove Plus, which provides rental customers with a layer of primary liability protection. The company's Life Insurance segment provides 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. U-Haul Holding Company was founded in 1945 and is based in Reno, Nevada.

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, vans, pickups, and trailers for local/in-town and one-way moves; revenue is generated from time- and/or usage-based rental fees and associated rental-related charges. (2) Self-storage: U-Haul operates self-storage facilities and earns recurring revenue from monthly storage unit rentals; it also generates ancillary revenue tied to storage customers, such as tenant-related fees where applicable. (3) Moving and storage products and services: U-Haul sells moving supplies (e.g., boxes, tape, packing materials, and moving accessories) and offers services that support moving and storage needs, which contribute additional transaction-based revenue. (4) Dealer network economics: U-Haul’s distribution model includes a large network of independent dealers that offer U-Haul rentals; U-Haul earns revenue from the rentals booked through this channel, while dealers are compensated under dealer arrangements (specific compensation terms: null). Overall earnings are influenced by utilization of the rental fleet, demand for one-way versus local moves, occupancy and pricing in self-storage, and the breadth of its retail/dealer footprint (specific partnership counterparts: null).

U-Haul Financial Statement Overview

Summary

Strong TTM revenue acceleration (+45.3%) is outweighed by materially weaker profitability and returns (TTM net margin ~3.3% vs higher historically; ROE ~2.6%), moderate-to-elevated leverage around ~1x equity, and volatile free cash flow despite a recent swing to positive.

Income Statement

TTM (Trailing-Twelve-Months) revenue accelerated sharply (+45.3%), but profitability is materially lower versus prior annual periods: net margin is ~3.3% (vs. ~5.7% in FY2025 and ~10–15% in FY2023–FY2024) and EBIT margin is ~10.5% (vs. ~13–25% historically). Gross margin also compressed to ~46.8% in TTM from ~86% in recent annual reports, indicating either mix/price pressure or cost headwinds. Overall: strong top-line momentum, but recent margin and earnings deterioration is a clear offset.

Balance Sheet

Leverage is moderate-to-elevated with debt running around ~1.0x equity in recent annual periods (debt-to-equity ~0.88–1.21), which reduces financial flexibility in a cyclical leasing business. Returns on equity have stepped down meaningfully—TTM is ~2.6% versus ~4.4% in FY2025 and materially higher levels in FY2022–FY2024—suggesting weaker profitability on the capital base. Equity is sizable (~$7.7B TTM) against a large asset base (~$21.6B), but the lower return profile and leverage keep the balance sheet assessment in the middle range.

Cash Flow

Operating cash flow remains solid (TTM ~$1.59B; FY2025 ~$1.45B), but free cash flow is volatile: deeply negative in FY2023–FY2025 and positive in TTM (~$1.0B). Cash generation quality is mixed because free cash flow has often not covered reported earnings (free cash flow to net income is negative in most periods, including TTM), implying heavy reinvestment/capex or working-capital swings. The recent swing to positive free cash flow is a constructive datapoint, but consistency is not yet proven.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	6.00B	5.83B	5.63B	5.86B	5.74B	4.54B
Gross Profit	1.67B	5.00B	4.83B	5.02B	1.46B	3.82B
EBITDA	1.65B	1.75B	1.94B	2.19B	2.34B	1.62B
Net Income	93.33M	331.80M	596.94M	890.75M	1.12B	610.86M
Balance Sheet
Total Assets	21.62B	20.48B	19.06B	18.10B	17.30B	14.65B
Cash, Cash Equivalents and Short-Term Investments	1.03B	1.70B	2.06B	2.75B	2.74B	1.20B
Total Debt	8.06B	7.24B	6.33B	6.17B	7.19B	5.83B
Total Liabilities	13.87B	12.98B	11.89B	11.60B	11.35B	9.80B
Stockholders Equity	7.74B	7.50B	7.17B	6.50B	5.95B	4.85B
Cash Flow
Free Cash Flow	1.00B	-2.00B	-1.54B	-994.29M	-190.30M	93.92M
Operating Cash Flow	1.59B	1.45B	1.45B	1.73B	1.95B	1.54B
Investing Cash Flow	-2.47B	-2.89B	-2.05B	-2.42B	-1.87B	-1.13B
Financing Cash Flow	880.71M	895.11M	66.53M	59.80M	1.43B	287.35M

U-Haul Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 52.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For UHAL, the sentiment is Negative. The current price of 52.27 is above the 20-day moving average (MA) of 48.16, above the 50-day MA of 51.93, and below the 200-day MA of 55.52, indicating a bearish trend. The MACD of -2.35 indicates Positive momentum. The RSI at 22.28 is Positive, neither overbought nor oversold. The STOCH value of 3.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for UHAL.

U-Haul Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MGRC	70 Outperform	$2.59B	12.96	13.21%	1.79%	4.77%	-35.44%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
R	61 Neutral	$7.56B	16.03	16.36%	1.75%	1.68%	9.91%
UHAL	59 Neutral	$7.87B	-53.96	1.22%	―	4.32%	-55.65%
HRI	47 Neutral	$3.35B	4,644.29	0.06%	1.79%	19.40%	-120.47%
HTZ	47 Neutral	$1.23B	-2.13	193.77%	―	-7.36%	62.27%
CAR	43 Neutral	$3.52B	-5.08	32.05%	―	-1.22%	-639.34%