U-Haul Holding Co /NV/
UHAL NYSE Services-Auto Rental & Leasing (No Drivers) Financials FY2017–FY2026
Revenue
Total sales reported in the income statement.
$6.0B
3.6%
vs prior year
Operating margin
Operating income as a share of revenue.
7.2%
5.1 pts
Net income
Profit after all expenses, interest and tax.
$83.1M
77.4%
Free cash flow
Cash from operations minus capital spending.
−$1.4B
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
2.2%
1.8 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
What U-Haul Holding Co /NV/ does
No business description yet.
- Legal name
- U-Haul Holding Co /NV/
- Fiscal year ends
- March 31, 2026
- Latest annual report
- 10-K · May 27, 2026
- Accession · CIK
- 0001193125-26-241850
0000004457
Revenue and margins
U-Haul Holding Co /NV/ had $6.0B of revenue in fiscal 2026, up 3.6% on the year before.
FY17
Revenue $3.4B
FY18
Revenue $3.6B
FY19
Revenue $3.8B
FY20
Revenue $4.0B
FY21
Revenue $4.5B
FY22
Revenue $5.7B
FY23
Revenue $5.9B
FY24
Revenue $5.6B
FY25
Revenue $5.8B
FY26
Revenue $6.0B
Q2 '24
Revenue $1.6B
Q3 '24
Revenue $1.3B
Q4 '24
Revenue $1.1B
Q1 '25
Revenue $1.5B
Q2 '25
Revenue $1.7B
Q3 '25
Revenue $1.4B
Q4 '25
Revenue $1.2B
Q1 '26
Revenue $1.6B
Q2 '26
Revenue $1.7B
Q3 '26
Revenue $1.4B
Q4 '26
Revenue $1.3B
Q1 '27
Revenue $1.7B
FY17
Gross 95.5%
Operating 21.7%
Net 11.6%
FCF −10.5%
FY18
Gross 95.5%
Operating 21.3%
Net 22.0%
FCF −11.8%
FY19
Gross 95.7%
Operating 16.5%
Net 9.8%
FCF −23.7%
FY20
Gross 95.9%
Operating 13.6%
Net 11.1%
FCF −31.0%
FY21
Gross 95.3%
Operating 21.2%
Net 13.4%
FCF 2.1%
FY22
Gross 95.5%
Operating 28.7%
Net 19.6%
FCF −3.3%
FY23
Gross 95.5%
Operating 24.6%
Net 15.8%
FCF −17.0%
FY24
Gross 95.7%
Operating 17.4%
Net 11.2%
FCF −27.4%
FY25
Gross 96.0%
Operating 12.3%
Net 6.3%
FCF −34.3%
FY26
Gross 95.9%
Operating 7.2%
Net 1.4%
FCF −22.5%
Gross
Operating
Net
FCF
Q2 '24
Gross 96.0%
Operating 25.6%
Net 16.6%
FCF −25.4%
Q3 '24
Gross 96.2%
Operating 14.8%
Net 7.4%
FCF −32.4%
Q4 '24
Gross 95.2%
Operating −3.8%
Net −0.1%
FCF −34.6%
Q1 '25
Gross 95.7%
Operating 19.8%
Net 12.6%
FCF −32.9%
Q2 '25
Gross 96.2%
Operating 18.2%
Net 11.3%
FCF −26.1%
Q3 '25
Gross 96.2%
Operating 10.9%
Net 4.8%
FCF −47.9%
Q4 '25
Gross 95.7%
Operating −3.5%
Net −6.7%
FCF −31.7%
Q1 '26
Gross 95.6%
Operating 15.8%
Net 8.7%
FCF −19.5%
Q2 '26
Gross 96.1%
Operating 12.7%
Net 6.1%
FCF −25.9%
Q3 '26
Gross 96.4%
Operating 2.4%
Net 2.6%
FCF −31.6%
Q4 '26
Gross 95.6%
Operating −6.0%
Net −10.0%
FCF −11.6%
Q1 '27
Gross 95.7%
Operating 14.9%
Net 7.3%
FCF −11.4%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY17
Net income $398M
FY18
Net income $791M
FY19
Net income $371M
FY20
Net income $442M
FY21
Net income $611M
FY22
Net income $1.1B
FY23
Net income $924M
FY24
Net income $629M
FY25
Net income $367M
FY26
Net income $83.1M
Q2 '24
Net income $274M
Q3 '24
Net income $99.2M
Q4 '24
Net income −$0.9M
Q1 '25
Net income $195M
Q2 '25
Net income $187M
Q3 '25
Net income $67.2M
Q4 '25
Net income −$82.3M
Q1 '26
Net income $142M
Q2 '26
Net income $106M
Q3 '26
Net income $37.0M
Q4 '26
Net income −$128M
Q1 '27
Net income $123M
FY17
Diluted EPS —
FY18
Diluted EPS —
FY19
Diluted EPS —
FY20
Diluted EPS —
FY21
Diluted EPS —
FY22
Diluted EPS —
FY23
Diluted EPS —
FY24
Diluted EPS —
FY25
Diluted EPS —
FY26
Diluted EPS —
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY17
Return on capital —
Return on equity 15.2%
Return on assets 4.2%
FY18
Return on capital 12.4%
Return on equity 26.2%
Return on assets 7.8%
FY19
Return on capital 6.7%
Return on equity 10.4%
Return on assets 3.3%
FY20
Return on capital 6.0%
Return on equity 10.4%
Return on assets 3.3%
FY21
Return on capital 8.8%
Return on equity 12.5%
Return on assets 4.2%
FY22
Return on capital 13.5%
Return on equity 20.7%
Return on assets 7.0%
FY23
Return on capital 10.4%
Return on equity 14.8%
Return on assets 5.2%
FY24
Return on capital 6.1%
Return on equity 9.2%
Return on assets 3.4%
FY25
Return on capital 4.0%
Return on equity 5.0%
Return on assets 1.9%
FY26
Return on capital 2.2%
Return on equity 1.1%
Return on assets 0.4%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$1.4B in fiscal 2026, −22.5% of revenue. Cash from operations minus capital spending.
FY17
Free cash flow −$360M
FY18
Free cash flow −$426M
FY19
Free cash flow −$894M
FY20
Free cash flow −$1.2B
FY21
Free cash flow $93.9M
FY22
Free cash flow −$190M
FY23
Free cash flow −$994M
FY24
Free cash flow −$1.5B
FY25
Free cash flow −$2.0B
FY26
Free cash flow −$1.4B
Q2 '24
Free cash flow −$419M
Q3 '24
Free cash flow −$434M
Q4 '24
Free cash flow −$379M
Q1 '25
Free cash flow −$509M
Q2 '25
Free cash flow −$433M
Q3 '25
Free cash flow −$665M
Q4 '25
Free cash flow −$390M
Q1 '26
Free cash flow −$318M
Q2 '26
Free cash flow −$446M
Q3 '26
Free cash flow −$448M
Q4 '26
Free cash flow −$148M
Q1 '27
Free cash flow −$192M
FY17
Cash from operations $1.1B
Capital spending $1.4B
FY18
Cash from operations $938M
Capital spending $1.4B
FY19
Cash from operations $976M
Capital spending $1.9B
FY20
Cash from operations $1.1B
Capital spending $2.3B
FY21
Cash from operations $1.5B
Capital spending $1.4B
FY22
Cash from operations $1.9B
Capital spending $2.1B
FY23
Cash from operations $1.7B
Capital spending $2.7B
FY24
Cash from operations $1.5B
Capital spending $3.0B
FY25
Cash from operations $1.5B
Capital spending $3.5B
FY26
Cash from operations $1.8B
Capital spending $3.2B
Cash from operations
Capital spending
Q2 '24
Cash from operations $472M
Capital spending $891M
Q3 '24
Cash from operations $303M
Capital spending $737M
Q4 '24
Cash from operations $213M
Capital spending $592M
Q1 '25
Cash from operations $454M
Capital spending $963M
Q2 '25
Cash from operations $530M
Capital spending $964M
Q3 '25
Cash from operations $272M
Capital spending $936M
Q4 '25
Cash from operations $199M
Capital spending $589M
Q1 '26
Cash from operations $598M
Capital spending $917M
Q2 '26
Cash from operations $552M
Capital spending $998M
Q3 '26
Cash from operations $241M
Capital spending $688M
Q4 '26
Cash from operations $404M
Capital spending $552M
Q1 '27
Cash from operations $630M
Capital spending $822M
Cash from operations
Capital spending
Dividends, buybacks and share count
U-Haul Holding Co /NV/ returned — to shareholders in fiscal 2026. The diluted share count rose 0.0%.
FY17
Dividends $58.8M
Buybacks —
FY18
Dividends $29.4M
Buybacks —
FY19
Dividends $39.2M
Buybacks —
FY20
Dividends $29.4M
Buybacks —
FY21
Dividends $49.0M
Buybacks —
FY22
Dividends $29.4M
Buybacks —
FY23
Dividends $19.6M
Buybacks —
FY24
Dividends $0.0M
Buybacks —
FY25
Dividends —
Buybacks —
FY26
Dividends —
Buybacks —
Dividends
Buybacks
Q2 '24
Dividends $14.1M
Buybacks —
Q3 '24
Dividends —
Buybacks —
Q4 '24
Dividends —
Buybacks —
Q1 '25
Dividends —
Buybacks —
Q2 '25
Dividends —
Buybacks —
Q3 '25
Dividends —
Buybacks —
Q4 '25
Dividends —
Buybacks —
Q1 '26
Dividends —
Buybacks —
Q2 '26
Dividends —
Buybacks —
Q3 '26
Dividends —
Buybacks —
Q4 '26
Dividends —
Buybacks —
Q1 '27
Dividends —
Buybacks $15.6M
Dividends
Buybacks
FY17
Diluted shares 0.02B
FY18
Diluted shares 0.02B
FY19
Diluted shares 0.02B
FY20
Diluted shares 0.02B
FY21
Diluted shares 0.02B
FY22
Diluted shares —
FY23
Diluted shares —
FY24
Diluted shares —
FY25
Diluted shares —
FY26
Diluted shares —
Balance sheet
Cash, debt and the ratios that show how comfortably U-Haul Holding Co /NV/ can carry it.
FY17
Cash $713M
Debt —
FY18
Cash $770M
Debt $3.5B
FY19
Cash $679M
Debt $4.2B
FY20
Cash $501M
Debt $5.4B
FY21
Cash $1.2B
Debt $5.2B
FY22
Cash $2.7B
Debt $6.4B
FY23
Cash $2.1B
Debt $6.4B
FY24
Cash $1.5B
Debt $6.3B
FY25
Cash $989M
Debt $7.3B
FY26
Cash $1.1B
Debt $8.1B
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $2.7B | $2.1B | $1.5B | $989M | $1.1B |
| Debt incl. finance leases | $6.4B | $6.4B | $6.3B | $7.3B | $8.1B |
| Net debt / EBITDA | 1.6x | 2.0x | 2.7x | 3.7x | 4.3x |
| Debt / equity | 1.0x | 0.9x | 0.9x | 1.0x | 1.1x |
| Interest coverage | 9.8x | 6.5x | 3.8x | 2.4x | 1.2x |
| Total assets | $17.3B | $18.1B | $19.1B | $20.5B | $21.5B |
| Total liabilities | $11.3B | $11.6B | $11.9B | $13.0B | $13.9B |
| Shareholders' equity | $6.0B | $6.5B | $7.2B | $7.5B | $7.6B |
| Net debt (− = net cash) | $3.7B | $4.3B | $4.8B | $6.3B | $7.0B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✕ | ✕ | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✕ | ✓ | ✕ | ✕ | ✓ | ✓ | ✕ | ✕ |
| Current ratio rose | — | — | — | — | — | — | — | — | — | — |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | — | — | — | — | — |
| Gross margin rose | — | ✕ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ | ✕ |
| Revenue rose relative to assets | — | ✕ | ✕ | ✕ | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ |
| F-score | — / 3 | 4 / 7 | 4 / 8 | 5 / 8 | 5 / 8 | 6 / 7 | 5 / 7 | 5 / 7 | 4 / 7 | 3 / 7 |
| Accruals ratio | −7.0% | −1.5% | −5.3% | −4.8% | −6.3% | −5.1% | −4.5% | −4.4% | −5.5% | −8.2% |
| Altman Z'' | — | — | — | — | — | — | — | — | — | — |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $3.4B | $3.6B | $3.8B | $4.0B | $4.5B | $5.7B | $5.9B | $5.6B | $5.8B | $6.0B |
| Gross profit | $3.3B | $3.4B | $3.6B | $3.8B | $4.3B | $5.5B | $5.6B | $5.4B | $5.6B | $5.8B |
| Operating income | $743M | $765M | $621M | $540M | $961M | $1.6B | $1.4B | $978M | $716M | $433M |
| Interest expense | $113M | $127M | $142M | $161M | $164M | $167M | $224M | $256M | $296M | $365M |
| Pretax income | $628M | $638M | $478M | $378M | $797M | $1.5B | $1.2B | $840M | $478M | $113M |
| Income tax | $230M | −$153M | $107M | −$63.9M | $186M | $352M | $295M | $211M | $110M | $29.5M |
| Net income | $398M | $791M | $371M | $442M | $611M | $1.1B | $924M | $629M | $367M | $83.1M |
| Diluted shares | 0.02B | 0.02B | 0.02B | 0.02B | 0.02B | — | — | — | — | — |
| Cash flow | ||||||||||
| Cash from operations | $1.1B | $938M | $976M | $1.1B | $1.5B | $1.9B | $1.7B | $1.5B | $1.5B | $1.8B |
| Capital expenditure | $1.4B | $1.4B | $1.9B | $2.3B | $1.4B | $2.1B | $2.7B | $3.0B | $3.5B | $3.2B |
| Free cash flow | −$360M | −$426M | −$894M | −$1.2B | $93.9M | −$190M | −$994M | −$1.5B | −$2.0B | −$1.4B |
| Depreciation and amortization | $482M | $555M | $581M | $664M | $664M | $697M | $734M | $818M | $972M | $1.2B |
| Dividends paid | $58.8M | $29.4M | $39.2M | $29.4M | $49.0M | $29.4M | $19.6M | $0.0M | — | — |
| Dividends and buybacks | $58.8M | $29.4M | $39.2M | $29.4M | $49.0M | $29.4M | $19.6M | $0.0M | — | — |
| Balance sheet | ||||||||||
| Cash and short-term investments | $713M | $770M | $679M | $501M | $1.2B | $2.7B | $2.1B | $1.5B | $989M | $1.1B |
| Total debt | — | $3.5B | $4.2B | $4.7B | $4.7B | $6.1B | $6.1B | $6.3B | $7.2B | $8.1B |
| Finance lease liabilities | — | — | — | $735M | $514M | $347M | $223M | — | $44.3M | — |
| Inventory | $82.4M | $89.9M | $104M | $101M | $106M | $159M | $151M | $151M | $163M | $178M |
| Property and equipment, net | $6.0B | $6.8B | $7.9B | $7.8B | $8.3B | $9.6B | $11.4B | $13.1B | $15.1B | $16.4B |
| Total assets | $9.4B | $10.7B | $11.9B | $14.7B | $14.7B | $17.3B | $18.1B | $19.1B | $20.5B | $21.5B |
| Total liabilities | $6.8B | $7.3B | $8.2B | $9.8B | $9.7B | $11.3B | $11.6B | $11.9B | $13.0B | $13.9B |
| Shareholders' equity | $2.6B | $3.4B | $3.7B | $4.8B | $4.9B | $6.0B | $6.5B | $7.2B | $7.5B | $7.6B |
| Margins | ||||||||||
| Gross margin | 95.5% | 95.5% | 95.7% | 95.9% | 95.3% | 95.5% | 95.5% | 95.7% | 96.0% | 95.9% |
| Operating margin | 21.7% | 21.3% | 16.5% | 13.6% | 21.2% | 28.7% | 24.6% | 17.4% | 12.3% | 7.2% |
| EBITDA margin | 35.8% | 36.7% | 31.9% | 30.3% | 35.8% | 40.8% | 37.2% | 31.9% | 29.0% | 26.8% |
| Net margin | 11.6% | 22.0% | 9.8% | 11.1% | 13.4% | 19.6% | 15.8% | 11.2% | 6.3% | 1.4% |
| FCF margin | −10.5% | −11.8% | −23.7% | −31.0% | 2.1% | −3.3% | −17.0% | −27.4% | −34.3% | −22.5% |
| Returns | ||||||||||
| Return on capital | — | 12.4% | 6.7% | 6.0% | 8.8% | 13.5% | 10.4% | 6.1% | 4.0% | 2.2% |
| Return on equity | 15.2% | 26.2% | 10.4% | 10.4% | 12.5% | 20.7% | 14.8% | 9.2% | 5.0% | 1.1% |
| Return on assets | 4.2% | 7.8% | 3.3% | 3.3% | 4.2% | 7.0% | 5.2% | 3.4% | 1.9% | 0.4% |
| Return on tangible equity | 15.2% | 23.2% | 10.0% | 9.1% | 12.4% | 18.9% | 14.2% | 8.8% | 4.9% | 1.1% |
| Growth | ||||||||||
| Revenue growth | — | 5.2% | 4.7% | 5.6% | 14.2% | 26.4% | 2.2% | −4.1% | 3.6% | 3.6% |
| Net income growth | — | 98.4% | −53.1% | 19.2% | 38.2% | 84.1% | −17.8% | −32.0% | −41.6% | −77.4% |
| FCF growth | — | — | — | — | — | −302.6% | — | — | — | — |
| Share count change | — | 0.0% | 0.0% | 0.1% | 0.0% | — | — | — | — | — |
| Financial health | ||||||||||
| Net debt / EBITDA | — | 2.1x | 2.9x | 4.1x | 2.5x | 1.6x | 2.0x | 2.7x | 3.7x | 4.3x |
| Debt / equity | — | 1.0x | 1.1x | 1.0x | 1.0x | 1.0x | 0.9x | 0.9x | 1.0x | 1.1x |
| Interest coverage | 6.6x | 6.0x | 4.4x | 3.4x | 5.9x | 9.8x | 6.5x | 3.8x | 2.4x | 1.2x |
| Capital allocation | ||||||||||
| Capex / revenue | 41.5% | 37.9% | 49.6% | 58.0% | 31.7% | 37.2% | 46.4% | 53.2% | 59.2% | 52.2% |
| Payouts / FCF | — | — | — | — | 52.2% | — | — | — | — | — |
| Quality scores | ||||||||||
| Piotroski F-score | — | 4.0 | 4.0 | 5.0 | 5.0 | 6.0 | 5.0 | 5.0 | 4.0 | 3.0 |
| Accruals ratio | −7.0% | −1.5% | −5.3% | −4.8% | −6.3% | −5.1% | −4.5% | −4.4% | −5.5% | −8.2% |
Source: SEC EDGAR XBRL filings (CIK 0000004457). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.