U-Haul Holding Company (UHAL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-361.6%

-$155.75

vs $59.54 price

Levered DCF

-$156.62

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.41

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	199.08×	38.67×	22.36×	13.13×	1.04×	1.97×	1.29×	1.99×
P/B	1.23×	1.71×	1.86×	1.8×	1.97×	2.48×	1.35×	2×
P/S	1.55×	2.2×	2.37×	1.99×	2.04×	2.64×	1.43×	1.96×
EV / EBITDA	9.84×	10.87×	9.36×	7.2×	6.93×	10.29×	9.19×	9.53×
Gross margin	85.8%	85.9%	85.9%	85.6%	25.4%	84.1%	84.2%	85.4%
Operating margin	7.6%	12.3%	17.4%	24.6%	24.9%	21.2%	13.6%	16.5%
Net margin	1.4%	5.7%	10.6%	15.2%	19.6%	13.4%	11.1%	9.8%
Current ratio	1.92×	1.45×	1.65×	2.03×	2.14×	1.24×	0.9×	0.79×
Debt / equity	1.07×	0.97×	0.88×	0.95×	1.21×	1.2×	1.38×	1.27×
Interest coverage	1.25×	2.42×	3.74×	6.43×	8.73×	6.01×	3.35×	4.38×
Dividend yield	0.4%	0.3%	0.2%	0.3%	0.3%	0.4%	0.5%	0.5%
Payout ratio	42.5%	10.6%	5.3%	3.8%	2.6%	8.0%	6.7%	10.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.1%	4.4%	8.3%	13.7%	18.9%	12.6%	10.5%	10.0%
Return on invested capital	1.6%	2.9%	4.2%	6.7%	6.5%	5.3%	4.2%	4.5%
Return on assets	0.4%	1.6%	3.1%	4.9%	6.5%	4.2%	3.3%	3.1%
Free cash flow yield	-14.5%	-15.6%	-11.5%	-8.5%	-1.6%	0.8%	-21.7%	-12.1%
Earnings yield	0.9%	2.6%	4.5%	7.6%	9.6%	5.1%	7.8%	5.0%
Enterprise value	$16.4B	$19.1B	$18.1B	$15.8B	$16.2B	$16.6B	$11B	$11.4B
Net debt / EBITDA	4.21×	3.56×	2.47×	1.87×	1.92×	2.87×	4.44×	3.36×
Cash conversion cycle (days)	-16	-27	-23	-22	-27	-255	-247	-279