U-Haul Holding Co /NV/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data U-Haul Holding Co /NV/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2019	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	3,422	3,601	3,769	3,979	4,542	5,740	5,865	5,626	5,829	6,038
Cost of revenue	152	160	162	164	214	260	263	242	234	247
Gross profit	3,269	3,441	3,607	3,815	4,328	5,480	5,602	5,384	5,595	5,791
Operating expenses	1,567	1,807	1,981	2,117	2,188	2,677	3,025	3,126	3,275	3,415
Operating income	743	765	621	540	961	1,646	1,446	978	716	433
Interest expense	113	127	142	161	164	167	224	256	296	365
Interest income	102	110	111	138	123	148	177	146	152	163
Pre-tax income	628	638	478	378	797	1,477	1,219	840	478	113
Income tax	230	-153	107	-63.9	186	352	295	211	110	29.5
Net income	398	791	371	442	611	1,124	924	629	367	83.1
EBITDA	1,225	1,320	1,202	1,204	1,625	2,343	2,179	1,796	1,688	1,616
Shares, basic (weighted)	19.6	19.6	19.6	19.6	19.6	19.6		196	196	196
Shares, diluted (weighted)	19.6	19.6	19.6	19.6	19.6	19.6		196	196	196
Dividend per share	1.00	0.50	2.00	1.00	2.50	1.50	1.00

Balance sheet

	FY2017	FY2017	FY2019	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	698	759	674	494	1,194	2,704	2,061	1,535	989	1,120
Short-term investments	15.1	10.4	5.55	7	7.23	30.9	15.9
Inventory	82.4	89.9	104	101	106	159	151	151	163	178
Other current assets										10
Property, plant and equipment	5,977	6,817	7,934	7,843	8,331	9,626	11,350	13,135	15,113	16,380
Lease right-of-use assets			0	1,080	877	621	58.9	53.7	46	40.2
Total assets	9,406	10,747	11,892	14,693	14,652	17,327	18,101	19,059	20,479	21,503
Total liabilities	6,786	7,339	8,199	9,847	9,733	11,347	11,597	11,886	12,981	13,891
Total debt	3,263	3,539	4,192	4,651	4,699	6,060	6,143	6,304	7,229	8,125
Paid-in capital	452	453	453	454	454	454	454	463	463	463
Retained earnings	2,893	3,636	3,977	5,017	5,026	6,119	7,003	7,600	7,932	7,980
Other comprehensive income	-51.2	-4.62	-66.7	42.3	107	46.4	286	223	-229	-164
Shareholders' equity	2,620	3,409	3,692	4,846	4,919	5,952	6,504	7,172	7,498	7,612
Total equity	2,620	3,409	3,692	4,288	4,919	5,897	6,504	7,172	7,498	7,612
Total liabilities and equity	9,406	10,747	11,892	14,693	14,652	17,300	18,101	19,059	20,479	21,503

Cash flow statement

	FY2017	FY2017	FY2019	FY2019	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	398	791	371	442	611	1,124	924	629	367	83.1
Depreciation and amortization	482	555	581	664	664	697	734	818	972	1,183
Deferred income tax	173	-193	107	318	68.4	100	162	100	45.4	50.1
Change in inventory	-4.07	-12.4	-13.5	1.78	-5.78	-53.3	-7.27	0.52	-12.3	-15
Change in payables						10.5	34.3	-10.7	14.4	19.2
Cash from operations	1,059	938	976	1,076	1,535	1,946	1,730	1,453	1,454	1,795
Capital expenditures	-1,420	-1,364	-1,870	-2,309	-1,441	-2,137	-2,724	-2,993	-3,452	-3,154
Purchases of investments	-636	-1	0	0	-16.1	-8	0
Sales and maturities of investments	4.18	4.21	1.63	2.38	2.7	2	0	107	13.3
Cash from investing	-1,184	-898	-1,571	-1,767	-1,130	1,867	-2,421	-2,046	-2,891	-2,263
Dividends paid	-58.8	-29.4	-39.2	-29.4	-49	-29.4	-19.6	0
Cash from financing	224	16.6	515	512	287	1,433	59.8	66.5	895	595
Exchange rate effect	-2.14	5.6	-4.72	-0.53	6.44
Net change in cash	97.2	61.6	-85.7	-179	700	1,510	-644	-526	-546	131
Free cash flow	-360	-426	-894	-1,234	93.9	-190	-994	-1,540	-1,998	-1,360
Interest paid	114	129	150	168	166	166	226	269	302	361
Income taxes paid	36.9	68.7	4.26	6.86	29	4.55	146	68.6	95.4	117

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $60.97 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	96.0%	Gross profit / revenue.
Operating margin	7.0%	Operating income / revenue.
EBITDA margin	26.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.2%	Pre-tax income / revenue.
Net margin	1.0%	Net income / revenue.
FCF margin	-20.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	30.0%	Cash from operations / revenue.
Effective tax rate	28.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	0.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.3%	Net income / average total assets.
Return on invested capital (ROIC)	2.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	50.3%	Capital expenditures / revenue.
D&A / revenue	19.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-39.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-33.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-14.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-4.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-9.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-0.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-77.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-55.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-32.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	23.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	1.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	8.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	58.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	1.06x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	37.6%	Total debt / total assets.
Liabilities / assets	64.6%	Total liabilities / total assets.
Net debt	$7.05B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.33x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.12x	Operating income / interest expense.
Tangible book value	$7.66B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.28x	Revenue / average total assets.
Fixed asset turnover	0.36x	Revenue / average property, plant and equipment.
Inventory turnover	1.37x	Cost of revenue / average inventory.
Days inventory	267 days	365 x average inventory / cost of revenue.
FCF conversion	-1,936.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	167.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.33	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$31.09	Revenue / diluted weighted shares.
FCF per share	-$6.30	Free cash flow / diluted weighted shares.
Operating cash flow per share	$9.33	Cash from operations / diluted weighted shares.
Book value per share	$39.11	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$39.11	Tangible book value / shares outstanding.
Cash per share	$5.60	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$11.85B	Share price x shares outstanding.
Enterprise value	$18.90B	Market cap + total debt - cash - short-term investments.
P/E	186x	Market cap / net income. Only when net income is positive.
P/S	1.95x	Market cap / revenue.
P/B	1.55x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.55x	Market cap / tangible book value, when positive.
P/OCF	6.49x	Market cap / cash from operations, when positive.
EV/Sales	3.10x	Enterprise value / revenue.
EV/EBIT	44.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.6x	Enterprise value / EBITDA, when both are positive.
FCF yield	-10.4%	Free cash flow / market cap.
Earnings yield	0.5%	Net income / market cap (the inverse of P/E).

What was U-Haul Holding Co /NV/'s revenue in fiscal 2026?

U-Haul Holding Co /NV/ reported revenue of $6.04B for fiscal 2026, 3.6% higher than the year before.

Was U-Haul Holding Co /NV/ profitable in fiscal 2026?

Yes. Net income was $83.1M, a net margin of 1.4%.

How much free cash flow did U-Haul Holding Co /NV/ generate in fiscal 2026?

Cash from operations of $1.79B minus capital expenditures of $3.15B left free cash flow of -$1.36B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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