UNIVERSAL LOGISTICS HOLDINGS, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data UNIVERSAL LOGISTICS HOLDINGS, INC. 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,073	1,217	1,462	1,512	1,391	1,751	2,015	1,662	1,846	1,558
Selling, general and administrative	38.4
General and administrative	29.4	31.5	31.5	44.5	33.3	42	48.9	50.2	57	54.2
Operating expenses	1,026	1,191	1,378	1,447	1,311	1,648	1,775	1,517	1,643	1,623
Operating income	46.6	25.2	83.8	65.4	80.4	103	240	145	203	-64.3
Interest expense	8.27	9.54	14.7	17.1	14.6	11.6	16.3	24.2	34.5	49
Interest income	0.16	0.09	0.08	0.07	0.05	0.04	0.13	1.45	4.27	11.2
Other non-operating income	0.93	1.37	0.19	1.82	-1.87	7.22	1.14	1.61	0.84	2.14
Pre-tax income	39.4	17.1	69.4	50.2	63.9	98.6	225	124	174	-100
Income tax	15.2	-11	17.2	12.6	15.8	24.8	56.8	31.4	43.8	-0.14
Net income	24.2	28.2	52.2	37.6	48.1	73.7	169	92.9	130	-99.9
EBITDA	83.3	72.2	138	140	155	170	317	222	327	81.9
EPS, basic	0.85	0.99	1.84	1.34	1.78	2.74	6.37	3.53	4.94	-3.79
EPS, diluted	0.85	0.99	1.84	1.34	1.78	2.74	6.37	3.53	4.93	-3.79
Shares, basic (weighted)	28.4	28.4	28.4	28.1	27	26.9	26.5	26.3	26.3	26.3
Shares, diluted (weighted)	28.4	28.4	28.4	28.1	27	26.9	26.5	26.3	26.3	26.3
Dividend per share	0.28	0.28	0.53	0.42	0.21	0.42	0.42	0.42	0.42	0.42

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1.76	1.67	5.73	7.73	8.76	13.9	47.2	12.5	19.4	26.8
Receivables	145	171	216	211	259	341	351	288	294	261
Inventory	8.62	5.34	6.75	7.16	8.28	14.1	11.4	12.4	8.27	9.89
Other current assets	17.4	16.1	19.8	19.7	23.4	30.2	1	0.7	1.3	1
Total current assets	207	229	275	272	322	421	460	365	410	383
Property, plant and equipment	246	267	303	340	365	346	391	561	742	819
Lease right-of-use assets				94.6	97.8	106	99.7	87.2	74	169
Goodwill	74.5	74.5	145	168	171	171	171	171	207	106
Intangible assets	37.2	31.3	114	116	102	88.3	74	61.3	151	109
Other non-current assets	4.89	4.83	3.18	3.1	3.79	4.22	7.05	6.5	4.59	2.39
Total assets	570	611	843	995	1,063	1,137	1,204	1,254	1,787	1,772
Accounts payable	65.9	84.4	92	91.9	97.9	118	87.1	64.1	60	61.1
Accrued liabilities	19.8	24.1	25.1	34.8	39.6	43.6	43.1	43.1	70.7	59.5
Short-term debt	34.5	40.9	51.9	59.5	59.7	61.2	65.3	70.7	88.8	115
Total current liabilities	145	199	221	250	273	313	287	260	305	318
Long-term debt	227	207	349	398	400	366	313	311	670	683
Lease liabilities				70.3	78.1	86	77.6	63.6	50.8	144
Other non-current liabilities	3.58	3.29	4.9	5.7	7.74	9.15	9.47	6.49	5.17	4
Total liabilities	423	442	634	790	823	835	757	721	1,140	1,232
Total debt	261	248	400	458	460	427	379	382	759	798
Paid-in capital	3.45	3.84	4.23	4.3	4.48	4.64	4.85	5.1	5.02	5.46
Retained earnings	166	186	232	251	294	356	514	595	623	512
Treasury stock	-50	-51.5	-52.5	-77.2	-82.4	-82.4	-96.7	-96.8	-0.11	-0.19
Other comprehensive income	2.68	3.82
Shareholders' equity	148	169	209	205	240	302	447	532	647	540
Total equity	148	169	209	205	240	302	447	532	647	540
Total liabilities and equity	570	611	843	995	1,063	1,137	1,204	1,254	1,787	1,772
Shares outstanding	28.4	28.4	28.4	27.3	26.9	26.9	26.3	26.3	26.3	26.3

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	24.2	28.2	52.2	37.6	48.1	73.7	169	92.9	130	-99.9
Depreciation and amortization	36.7	47	54.4	74.8	74.1	67.5	76.7	77	124	146
Stock-based compensation	0.57	0.41	0.41	0.07	0.2	0.16	0.22	0.26	0.78	0.46
Deferred income tax	6.7	-19.3	5.96	7.08	-3.23	-3.15	8.28	10.4	30.4	-27.1
Change in receivables	-7.51	-29.4	-26.5	21.8	-58.1	-93	-16.3	62.5	36	32.5
Change in payables	18	40.6
Cash from operations	68.6	83.8	94.9	128	99.3	83.3	213	210	112	183
Capital expenditures	-97.4	-63.4	-66.6	-79.8	-90.7	-38.8	-117	-241	-252	-224
Acquisitions			-174	-76	-1.3		0	0	-216	0
Purchases of investments	-0.02	-0.4	-1.23	-0.09	-0.36	-0.11	-0.93	0	0
Sales and maturities of investments	0.87	1.26	5.73	1.6	1.62	0.12	0	0.27	0.02	2.98
Cash from investing	-94.1	-61.3	-229	-143	-86.6	-33.2	-104	-237	-463	-203
Debt issued	99.5	39.1	255	56.5	63.9	16	340	56.2	191	281
Debt repaid	-78.5	-48.3	-112	-70	-62	-61.2	-222	-74.6	-104	-148
Share buybacks	-0.03	-1.49	-0.93	-24.8	-5.14	0	-14.3	-0.13	-0.11	-0.09
Dividends paid	-7.95	-7.96	-10.9	-15	-5.73	-11.3	-13.9	-11	-11.1	-11.1
Cash from financing	14.1	-23.2	139	16.7	-8.95	-44.6	-78.2	-8.56	365	26.1
Exchange rate effect	0.16	0.52	-0.47
Net change in cash	-11.2	-0.08	4.06	2	1.04	5.17	33.2	-34.7	6.84	7.5
Free cash flow	-28.7	20.5	28.3	48.3	8.63	44.4	96.3	-30.3	-139	-41.1
Interest paid	7.8	9.1	13.3	16.3	14	11.2	14.3	23.4	33.4	48
Income taxes paid	20.9	2.21	4.79	12.5	3.78	36.2	40.9	25.4	18.6	20.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 4, 2026; growth uses fiscal years. Valuation uses the share price of $16.69 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-3.3%	Operating income / revenue.
EBITDA margin	6.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-5.8%	Pre-tax income / revenue.
Net margin	-6.0%	Net income / revenue.
FCF margin	2.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.6%	Cash from operations / revenue.
Return on equity (ROE)	-16.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-5.4%	Net income / average total assets.
Return on invested capital (ROIC)	-3.2%	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%.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	7.2%	Capital expenditures / revenue.
D&A / revenue	9.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-15.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-8.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-131.7%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-75.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-36.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-11.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-176.9%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-176.9%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	62.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-5.0%	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	13.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	14.9%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-16.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.5%	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	17.7%	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	-0.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	13.8%	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	10.8%	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, 3y	-0.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.5%	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
Current ratio	1.20x	Current assets / current liabilities.
Quick ratio	0.91x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.06x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.23x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	41.2%	Total debt / total assets.
Liabilities / assets	66.7%	Total liabilities / total assets.
Net debt	$672.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	7.20x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.97x	Operating income / interest expense.
Working capital	$61.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	12.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$352.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.91x	Revenue / average total assets.
Fixed asset turnover	1.96x	Revenue / average property, plant and equipment.
Receivables turnover	5.72x	Revenue / average receivables.
Days sales outstanding	64 days	365 x average receivables / revenue.
Capex / operating cash flow	75.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$3.47	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	$57.99	Revenue / diluted weighted shares.
FCF per share	$1.39	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.57	Cash from operations / diluted weighted shares.
Book value per share	$21.28	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$13.37	Tangible book value / shares outstanding.
Cash per share	$0.77	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	30.2%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$440.1M	Share price x shares outstanding.
Enterprise value	$1.11B	Market cap + total debt - cash - short-term investments.
P/S	0.29x	Market cap / revenue.
P/B	0.78x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.25x	Market cap / tangible book value, when positive.
P/FCF	12.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.00x	Market cap / cash from operations, when positive.
EV/Sales	0.73x	Enterprise value / revenue.
EV/EBITDA	11.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	30.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.3%	Free cash flow / market cap.
Earnings yield	-20.8%	Net income / market cap (the inverse of P/E).
Dividend yield	2.5%	Dividends paid over the period / market cap.
Shareholder yield	2.5%	(Dividends paid + share buybacks) / market cap.

What was UNIVERSAL LOGISTICS HOLDINGS, INC.'s revenue in fiscal 2025?

UNIVERSAL LOGISTICS HOLDINGS, INC. reported revenue of $1.56B for fiscal 2025, 15.6% lower than the year before.

Was UNIVERSAL LOGISTICS HOLDINGS, INC. profitable in fiscal 2025?

No. It reported a net loss of $99.9M.

How much free cash flow did UNIVERSAL LOGISTICS HOLDINGS, INC. generate in fiscal 2025?

Cash from operations of $183.0M minus capital expenditures of $224.2M left free cash flow of -$41.1M.

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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